LEG SHOT UP 50% IN EARLY TRADE YESTERDAY. HERE'S WHY

LEG shot up 50% in early trade yesterday before settling at 0.107 pence, an increase of 33.13% over its opening price.

LEG reported that its investee company, Virtual Stock (VS) valuation has gone up to 58M Pounds from 25M Pounds a year earlier. With a 7% stake in VS, this puts the value of LEG's stake in VS alone at more than 4M Pounds, higher than its current marketcap of approximately 2M Pounds, and that excluding its other investments.

On top of that, VS reported that Nick Jenkins, the founder of moonpig.com has bought a small stake in VS. Nick has been actively investing in start up businesses after he sold moonpig,com for 120M Pounds. His purchase of a stake in VS is a timely endorsement.

My disclosure: I own shares of LEG.