Custodian climbs to 52-week high of N14 in September – Here’s what you need to know 

On August 2, 2024, Custodian and Allied announced its decision to pay an interim dividend of 15 kobo per share, applicable to shareholders holding up to N50,000 in shares.

This dividend announcement served as a catalyst for the stock’s bullish trend, intensifying the buying interest and pushing the stock up by over 25% as of September 9, 2024.

As of September 11, 2024, Custodian’s stock has risen over 55% year-to-date, starting from N9 at the beginning of the year. The stock experienced a brief pullback in February, which was quickly corrected by May, as the company’s strong fundamentals lingered.

Overall, the stock is riding a strong buyside trend with the highest volumes of 43 million shares and 67 million shares recorded in June and July after the company’s MD and CEO purchased additional 19,531,250 shares of the company, and the second-quarter release in July.

In the month of September alone, Custodian Investment Plc has seen its stock climb by an impressive 25%, reaching a new peak of over N14, driven by a trading volume of 9.8 million shares as of September 11, 2024.

Nevertheless, market sentiment remains firmly positive, with many analysts and investors expecting the stock to maintain its upward trajectory in the near term. However, a retracement will provide investors the opportunity to execute at a profitable price.

As the stock continues to surge, investors are closely monitoring its performance, with the company’s strong fundamentals and market momentum suggesting continued growth ahead.