Shares of Legend Web Plc surged by 32.77% within the week ended thirteenth June 2025, topping NGX’s record of advancers.
After 5 consecutive weeks of losses that noticed the inventory fall from N9.05 to beneath N6.00, Legend Web shares have gained, seemingly supported by renewed investor curiosity following the corporate’s newest {financial} outcomes.
Within the outcomes, the corporate reported a 2.20% enhance in turnover to N319.9 million for the quarter ended April 30, 2025, bringing its nine-month complete to N962.2 million, pushed by larger subscriptions in fibre, WiFi, and airtime companies.
Following the discharge of the leads to early June, the inventory rebounded to shut at N7.09, with a weekly market quantity of 9.31 million shares, outperforming different high gainers resembling Berger Paints and Ellah Lakes.
With a achieve of over 32% in only one week, you will need to take a more in-depth have a look at the components seemingly driving investor sentiment in the course of the interval.
Current financials from Legend Web point out regular progress and operational enhancements.
Earlier than the current upward motion, LEGENDINT had declined beneath N6, a degree that will have attracted curiosity from traders searching for decrease entry factors.
The inventory could now be approaching a doable resistance zone close to N9, the place it beforehand peaked after itemizing.
Legend Web, buying and selling underneath the ticker “LEGENDINT”, debuted on the NGX at an inventory worth of N6.20 on April 24, closing that week barely larger at N6.80.
Within the following week—the final week of April—the inventory gained sturdy traction, surging to a excessive of N9.05 and posting a weekly return of 32.40%.
Nevertheless, a interval of pullback adopted. Over the subsequent 5 weeks, the inventory noticed a bearish stretch, seemingly as traders awaited clearer entry factors and the discharge of the corporate’s financials for the interval ended April 30, 2025.
After the {financial} outcomes had been revealed on June 5, investor sentiment appeared to shift.
The renewed curiosity could have been pushed by a mixture of things, together with the discharge of a wholesome {financial} report, a good technical setup, and earlier headlines surrounding a product launch in Might.
In early Might, following its itemizing on the NGX in April, Legend Web Plc launched FTTR by Legend, Nigeria’s first Fibre-to-the-Room (FTTR) broadband service, geared toward bettering web protection and pace inside houses and companies.
“This partnership with Huawei displays our deal with constructing infrastructure that meets trendy digital wants,” stated Aisha Abdulaziz, CEO of Legend Web Plc. “FTTR by Legend delivers constant, high-speed protection throughout total areas.”
The launch marks a big step in Legend’s enlargement technique following its current entry into the general public market.
