Australia’s Star Entertainment pares losses after slipping to record low

Shares of Australian casino operator Star Entertainment jumped 13.6% higher on Monday, with analysts citing the rise to investors buying the stock at a cheaper price after it fell to a record low last week. “The rise in Star’s share price today is likely buying the dip and traders working the market as opposed to fundamental news flow driving the share price rise,” said Grady Wulff, a market analyst at trading platform Bell Direct. “The combination of speculating a turnaround and shorting are likely the drivers behind Star’s most recent share price volatility and today’s rise.”