News causes CentralNic shares to jump 50% — Google Alphabet

Shares in .xyz services firm are up big this stretch.

Shares in domain name registry firm CentralNic have jumped regarding 50% since Monday afternoon. The firm thinks this is due to Google’s selection of the domain name abc.xyz for its fresh firm Alphabet.

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

Shares on the London AIM (CNIC) traded for regarding 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 Firm’s share price is related to media comment surrounding the recent notice by Google to adopt the suffix .xyz for use by its fresh 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 notice by Google was very positive, the growing interest in .xyz was expected as awareness and usage of .xyz and CentralNic’s other fresh Top-Level Domains continues to expand.

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