The BT share price soars 20% in two weeks. Here’s why!

The shares of BT Group (LSE: BT.A) have been a graveyard for many a retail investor. The former state-owned telecoms company floated in December 1984, when millions of Brits bought its shares. Way back then, the BT share price was 130p, valuing the business at £7.8bn. As I write, the shares stand at 163.1p, valuing the group at £16.2bn. So BT’s value has roughly doubled over 37 years (excluding dividends). That’s hardly a knockout performance.

The BT share price roller-coaster

Over the past five years, the BT share price has been one big disappointment. It’s crashed by more than half (-54.8%) since November 2016. It’s also down 35.9% over three years. However, the stock is ahead 36.8% over one year and down just 4.5% over six months.

But BT shares have been on a real downer since 17 June, when they hit their 2021 closing high of 205.6p. On 25 October, they closed at just 135.2p. Then, on Halloween (31 October), I argued that the BT share price had fallen too far. With the shares at 138.93p, I said I would buy BT at this price. The stock has since leapt by as much as 17.4% in 10 days.

So what caused BT shares to leap by more than a fifth (+20.6%) since 25 October? I believe that this rise was driven by two factors. First, buying pressure drove up BT shares — perhaps driven by bargain-hunting value investors like me. Second, BT’s half-year results, released on 4 November, injected new life into the stock last Thursday. Good news for long-suffering BT shareholders!

The post The BT share price soars 20% in two weeks. Here’s why! appeared first on The Motley Fool UK.

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Cliffdarcy has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services, such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool, we believe that considering a diverse range of insights makes us better investors.

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