Richard Teatum, a businessman from Doncaster, has acquired further shares of the floundering Joules.
Following the announcement, shares in Joules climbed 12.6%, or 1.2p, to 10.7p.
Teatum stated, “I believe it is an excellent investment, as it has promise and the ability to advance.” I may still purchase a bit more.
A few weeks ago, he invested £900,000 in the business by purchasing a stake.
At the time, he stated that Joules was “massively undervalued” and a “great investment.”
He stated last night, “I’ve been to the headquarters and met them; I think it’s a wonderful setup.”
He stated that Joules has been harmed by rising inflation and is struggling amid a broader retail slowdown, but that management may “bring it around.”