Microsoft mogul Bill Gates has bought a 3.14% stake in JJB Sports prompting a massive jump in the retailer’s share price.
Shares in JJB Sports have soared by 15% to 28.75p after the sports retailer confirmed that the Microsoft founder had bought a stake in the company via his charitable trust, the Bill & Melinda Gates Foundation Trust.
“It obviously doesn’t look bad to have him on the shareholder register”, one trader told Reuters.
“There’s rumours going around that he wants to increase his stake and he must see something in the company. I think it’ll be over 30p by the end of the day.”