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Google Alphabet news causes CentralNic shares to jump 50%

Shares in .xyz services company are up big this week.

CentralNicShares in domain name registry company CentralNic have jumped about 50% since Monday afternoon. The company thinks this is due to Google’s selection of the domain name abc.xyz for its new company Alphabet.

CentralNic is the backend registry provider for .xyz domain names.

Shares on the London AIM (CNIC) traded for about 40 pence on Monday afternoon, and have shot up to 61 pence at the time of writing.

CentralNic issued a statement this morning:

The Board of CentralNic plc, (AIM:CNIC), the internet platform business which derives revenues from the global sale of domain names, believes that the recent movement in the Company’s share price is related to media comment surrounding the recent announcement by Google to adopt the suffix .xyz for use by its new identity “Alphabet”, the principal website of which will be abc.xyz. CentralNic is the exclusive global wholesaler for .xyz, receiving a share of revenues for all .xyz domains registered.

The Board wishes to make it clear that although the recent announcement by Google was very positive, the growing interest in .xyz was expected as awareness and usage of .xyz and CentralNic’s other new Top-Level Domains continues to expand.

The Company continues to trade in line with market expectations for the current year to 31st December 2015.

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