BGI Stock Price Increased 38.93%: Why It Happened

By Amit Chowdhry ● February 19, 2021
  • The stock price of Birks Group Inc (NYSEAMERICAN: BGI) increased by 38.93% as it went from a previous close of $2.44 to $3.39. This is why it happened.

The stock price of Birks Group Inc (NYSEAMERICAN: BGI) — a company that designs, develops, manufactures, and retails fine jewelry, timepieces, sterling and plated silverware, and gifts in the US and Canada — increased by 38.93% as it went from a previous close of $2.44 to $3.39. Birks Group did not have any recent announcements or SEC reports so it appears that there are external factors at play.

On social media platforms, there has been an uptick in discussion about BGI. One of the reasons why BGI got noticed is because it is one of the few retailers that accepts bitcoin according to a press release published in November 2018.

The price of bitcoin hit a new high this week as it passed $56,000 today. And now the market value of bitcoin has surpassed $1 trillion. So the hype around cryptocurrency may have been a factor in the increase in BGI today.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.