HIGH POINT\u00c2\u00a0— Fabric supplier Culp Inc.\u00e2\u20ac\u2122s stock price rose sharply this week, but the company said it was unaware of any reason for the rise.
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\nThe stock hit a 52-week high on Thursday, July 6. Late in the day, it was trading at $6.35 per share, up nearly 40% from its closing price of $4.55 on June 28.<\/p>\n
Culp reported its fourth-quarter earnings June 26, saying it had a smaller net loss in the latest period than it did a year earlier, and that its upholstery fabric segment showed its first operating profit in two years.<\/p>\n
After it was contacted by the New York Stock Exchange inquiring about the sudden spike in the stock price, Culp issued a statement saying it was \u00e2\u20ac\u0153unaware of any company developments since (its fourth quarter earnings release on June 26) that would account for the recent activity in its stock.\u00e2\u20ac\u009d<\/p>\n
The statement also said Culp was not currently contemplating any new business announcements.<\/p>\n","protected":false},"excerpt":{"rendered":"
HIGH POINT\u00c2\u00a0— Fabric supplier Culp Inc.\u00e2\u20ac\u2122s stock price rose sharply this week, but the company said it was unaware of any reason for the rise.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-1178","post","type-post","status-publish","format-standard","hentry","category-furniture-world-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/1178","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/comments?post=1178"}],"version-history":[{"count":0,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/1178\/revisions"}],"wp:attachment":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/media?parent=1178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/categories?post=1178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/tags?post=1178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}