• NAGA Group shares close at €1.06, up 38%, following a favorable report by NuWays AG.
  • The ongoing reverse merger with, approved by shareholders, is pending regulatory approval.

Shares of online broker NAGA Group (ETR:N4G) experienced a significant surge on Tuesday, closing at €1.06, a 38% increase from the previous day. This boost appears to be fueled by a new research report from NuWays AG, a German equity research firm.

While the report revised the price target slightly downward to €1.20 from €1.30, it offered a positive outlook for NAGA Group’s revenue and profit, emphasizing the company’s “huge” growth potential. This optimistic analysis seems to have resonated with investors, leading to a sharp increase in share prices.

This price jump is characteristic of “small-cap” stocks like NAGA, which tend to exhibit greater volatility than larger companies. NAGA is currently undergoing a merger with rival broker, a move that is still pending regulatory approval.

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