Redcentric ( (GB:RCN) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Redcentric’s stock price has been impacted by the company’s announcement to sell its data centre business to Stellanor Datacenters Group for up to £127 million. This move is part of Redcentric’s strategy to reduce debt and focus on managed services, which is expected to enhance shareholder value. However, analysts remain cautious due to ongoing revenue challenges and high valuation metrics, leading to mixed market sentiment.
More about Redcentric
YTD Price Performance: 9.87%
Average Trading Volume: 73,587
Technical Sentiment Signal: Strong Buy
Current Market Cap: £215M
For further insights into RCN stock on TipRanks’ Stock Analysis page.
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