Why did PEXA Group shares shoot 18% higher today?

PEXA Group Ltd (ASX: PXA) shares flew 18.1% higher to a three-year peak of $15.30 in intraday trading on Thursday.

PEXA Group shares were the fastest risers of the S&P/ASX 200 Index (ASX: XJO) today.

The share price surge followed an announcement by the online…