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InterX share price goes through roof

From £2.50 in November to £13 today, blimey

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There's no stopping those Internet investors once they get an idea into their heads. But InterX doesn't seem to be doing too badly out of it. Since we all got into work this morning, the company's share price has jumped over £1.20 to £13.87. This is more than a £3 hike in a week. The share price increase stems back to 29 November, when the company announced plans to spin off Ideal Hardware -- the distribution part of the business -- and stick to cybertrade. The dot.com stock marketeers wasted no time, and the company waved goodbye to its £2.50 share price. Today InterX was forced to issue a statement to the stock exchange over the price rise – but merely re-iterated its strategy from November. "The Board continues to progress the implementation of this strategy and will make further announcements when appropriate," it said. According to James Wickes, InterX CEO, it takes "time for the word to get round. We are still on course for the split, but we are no nearer towards it." Wickes said the share price now valued the company at £280 million, compared to £60 million in November. In his words: "We are very, very pleased". ®

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