Why Forterra Inc.'s Shares Popped 32% Today
Shares of Forterra Inc. (NASDAQ: FRTA) jumped as much as 32.5% in trading Thursday after the pipe manufacturer announced a new chief financial officer. There could also be some speculation that this will be a good infrastructure play as more hurricanes move toward the U.S. By 3:30 p.m. EDT, the stock had settled to a 21% gain for the day.
The only real announcement was that Charlie Brown, formerly CFO of Oldcastle Materials Company, will join the company as CFO. Former CFO Matt Brown has resigned "to pursue other opportunities."
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Source: Fool.com