Recent upward movement in Joyce Boutique Holdings shares has sparked speculation an investor is moving in after the withdrawal of Strategic Capital Group. The luxury retail group's stock yesterday jumped 14.83 per cent to 24 cents. This is a rise of 87.5 per cent from its low of 12.8 cents for the past month. 'There are rumours in the last few days that there will be new shareholders,' South China Se curities director Alan Pau said. 'There may be something cooking,' he said. Internet investor Strategic Capital dropped plans to take a stake in Joyce through a share subscription last month after the loss of Joyce's franchise to operate Giorgio Armani and Emporio Armani boutiques. 'I haven't heard anything, but it wouldn't be a total surprise if someone else came in,' Indosuez WI Carr retail analyst Alan Wong Tin-lun said.