Eddie Stobart Logistics is now a thing. Really. While not trending just yet (or even having anything as crazy as its own website for now), the partial divestment of the transport part of Stobart Group’s business is now complete.
And so an interesting chapter for both Stobart businesses has begun. The Hub wishes them well.
But it looks like that share bounce hasn’t happened just yet for Stobart Group. As of 14 April Stobart Group shares had climbed to 136p, having stood at 131p at the start of this month (a climb of 4%, but a rise nevertheless).
So more of a tentative hop thus far, than the leap the board will be looking for.
The current price remains someway shy of the 149.5p the shares were trading at ahead of the news that transport and distribution was now surplus to the group’s core needs (albeit with a retained shareholding of 49% and a transport resourcing agreement for Stobart Biomass).
Nevertheless, go back to the 6 March and Stobart Group’s shares sat at a year-high of 155p, meaning its got a fair way yet to travel, trucks or not.