Is anyone aware of why Universal Stores (UNI) had a 9% swing in the share price today (15/01/24). Shares opened flat before falling 3% around midday, then they climbed to end the day 5.5% higher.

I thought the bearish sentiment this morning was strange given there were no announcements and Super Retail Group (SUL) had just released a good trading update, expecting record 1H sales of $2 billion and NPBT of $200- $203 Million. This is up on analyst consensus forecasts (Simply Wall Street data) of $3.9 Billion in sales and $225 million NPAT for the full year (FY24). It was a good day for most retailers following Super Retail Group’s trading update.

I’m wondering if one of the brokers might have upgraded Universal Stores during the day?

Held IRL, UNI (1.2%) and SUL (1%)