2CRSI: Stock more than doubled in one year, surges 18.5% following announcement of Aether project
The Strasbourg-based server designer delivers a spectacular session, following a press release on an industrial site in Strasbourg. The rebound occurs after a declining quarter and repositions the stock above its main moving averages.
A Strasbourg industrial site and partial relocation of the GODì product line
The press release published on Monday, October 12 indicates that Aether Infrastructures signed on October 9 a promise of sale concerning the former Dumarey Powerglide site (formerly Punch Powerglide and General Motors), at the Port of the Rhine. 2CRSi, a member of the Aether consortium and prospective supplier of servers for the site, is backing a project to relocate part of the added value of its GODì product line there. The stock price gains 18.55% to €29.40, compared to the previous close at €24.80. The stock had already rebounded nearly 8% on Friday, after losing 22% over the quarter. The relocation project at the Port of the Rhine thus revives the Aether file, whose holding structure had been clarified in September following discussions with the Financial Markets Authority.
A rebound that repositions the price above its averages, below the resistance of €30.88
During the session, the stock price moves above the 20-day MA (€27.66, spread of 6.3%), the 50-day MA and the 200-day MA (€28.46, spread of 3.3%). The resistance at €30.88 is now approximately 5% from the current price. The movement extends an exceptional year, with a gain of nearly 118% over twelve months, and it occurs while the CAC 40 advances by 0.42% at mid-session.
The stock maintains a decline of 4.2% over three months, which today's session mitigates without offsetting it. The first level to monitor remains the resistance at €30.88.
