MAAS Group Stock Dips After $1.7 Billion Deal
MAAS Group Holdings shares eased Tuesday on strong volume, with traders watching its plan to sell its construction materials arm and shift focus to electrical and digital infrastructure. The shares closed at A$5.30, off 0.4%. They moved in a range from A$5.19 to A$5.39 through the day, with 9.22 million shares changing hands. MAAS saw volume almost 10 times its 12-month daily average, according to Intelligent Investor. The stock remained up 3.92% for the past week but still traded 8.78% under its Jan. 9 52-week high. The company’s latest notices in public feeds up to June 5 were about its buy-back, with the most recent price-sensitive update posted on May 18 as a corporate update.