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Quindell Share Price Rises Upon Founder Purchases

Quindell Share Price Rises Upon Founder Purchases

Having fallen throughout the latter half of Tuesday from just above 130p to just above 123p, Quindell (QPP) shares continued on a downwards direction upon opening on Wednesday morning and hit a low of 122.50p. However, the second half of the day brought better news and the price rose to 133p before closing the day at 132p up 6.75% for the day but still down 9.35% for the week.

The share price rose as Quindell founder and chairman Robert Terry showed confidence in the company when he, and two other directors, bought almost £2 million worth of shares. Terry bought 1 million shares and increased his stake in the company to 10.69%.

While the founders of the company may be confident, the overall trend appears to be more divided. On Wednesday 47.97% of Quindell shares traded were sold and 52.03% were bought.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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