PartyGaming stock sees sharp rise

An incredible rise in the price of PartyGaming shares has seen the company’s stock hit the top of the FTSE 250’s perfomrance index, with the cost of shares rising 66pc for unrivalled gains in the FTSE’s alternative stock market index.

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Shares in PartyGaming began this year around the .29 mark. The anti-gambling bill that passed through the US Congress in October 2006 forced PartyGaming to pull out of the US market, wiping billions off the company’s value as stock plummetted to just 20pc of its former value.

But with a cleaver series of aquisitions and steadily increasing player numbers on PartyGaming’s online gambling sites led to renewed confidence in the stock and by February 2007 the share price was beginning to rise. Towards the end of February 2007 the share price had surged to an incredible .45, but with the release of PartyGaming’s annual report on the 1st of March 2007 the share price fell back to around the 34p.

By the start of April 2007 PartyGaming shares had the strongest gains out of any stock in the FTSE 250.
Looks like PartyGaming are back off the rock and are sailing in good waters!

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