Cavalier shares rise on optimism new board will boost performance

Thu, 16 Jul 2015

By Tina Morrison July 16 (BusinessDesk) - Shares in Cavalier Corp are the biggest gainer on the S&P NZX Capital Index today on investor optimism changes in the governance of the carpet maker may be able to turn around its poor performance. Cavalier, whose shares have lost half their value over the past year, jumped 20 percent to 54 cents, outpacing a 0.4 percent gain in the overall index. Still, the shares remain significantly below a peak of $4 in 2011 and an all-time high of $5.70 in 2003. The company's stock has gained 54 percent si...

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