Audioboom Group – 1650p

Audioboom Group – 1650p

When we last commented on shares in Audioboom at the end of last month, we reduced our recommendation to hold following the strong run in the share price.  However, the fall in the share price from 2260p in mid-April now looks to have presented investors with another opportunity to buy.  Certainly, Michael Tobin, the non-executive chairman, believes this to be the case as he has made two purchases on 12 May, buying 3,067 shares at 1570p and another 2,028 shares at 1516p.  Although the share price has jumped on the announcement, the fall in the share price looks overdone and we upgrade our recommendation to BUY.

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