On 8 July 2019, the headline index S&P/ASX 200 is under pressure and down by 65.6 points or 0.98% and trading at 6,685.7, while the IT index S&P/ASX 200 Information Technology (Sector) is outperforming the benchmark index by trading flat at 1,386.3. In this piece of article, we will discuss three IT stocks, covering their latest updates as well as stock performance as on 8 July 2019.
About the Company: ShareRoot Limited (ASX: SRO) was established in the year 2013 and got listed on ASX in 2015. SRO is amongst the major players in the global digital healthcare sector and intends to utilize the potential of real-world data along with evidence collected from social media to provide guidance in the development of new therapeutics as well as lead enhancements to clinical practice. The company relocated its headquarters from the United States to Australia in 2019 with the leadership change followed by re-alignment of the approach to pay attention to health and life sciences.
Recent Update/s: On 5 July 2019, the company announced its plans to divest its Ludomade business, which it acquired in November 2018. Ludomade specializes in the development of games for entertainment and consumer goods sectors. It has a wide client outreach along with in-depth industry networks.
Based on the recommendations from the recent review and restructure of the operations of SRO, it was concluded that Ludomade brand, as well as the core team, which are extremely experienced recognized leaders in developing gaming and promotional applications for consumer goods and entertainment sectors, are non-core to the future strategic direction of the company. Thus, the company believes that it would be a wise decision to divest Ludomade in order to remove distraction as well as consumption of resources.
The company is engaged in talks with a number of potential parties interested in acquiring Ludomade.
Meanwhile, ShareRoot Limited announced that on 11 July 2019 at 12:30 pm, it will conduct the first of a series of regular shareholder and investor webinars, during which the path forward for the company would be presented by the CEO, Michelle Gallaher. In the webinar, the shareholders would be able to know about the company’s story, its forward strategy as well as the goals to have a noteworthy presence in the rapidly growing global digital health sector.
At present, the company is undertaking a Rights Issue.
Stock Performance: The SRO stock has given a negative return of 33.33% in the previous 6 months. The shares of SRO are trading flat on ASX on 8 July 2019 at A$ 0.001. Trading at its 52 weeks lowest price. SRO holds a market capitalization of A$ 1.57 million with approximately 1.57 billion outstanding shares. (as at AEST: 12:15 PM , 08 July 2019)
CV Check Ltd
About the Company: CV Check Ltd (ASX: CV1) operates as an online global screening and verification service. Every year, the company performs over 300,000 verification checks for private as well as government organizations, employers and individuals. The company tries to make the verification process of information easy, so that people are able to share their personal or professional data in a safe manner. It unveiled its information-screening platform in 2006.
Recent Update/s: On 5 July 2019, the company reported quarter ended 30 June 2019 as its third consecutive positive cash flow quarter. For the quarter ended 30 June 2019, the company was able to generate cash worth $26,000 from its normal operating as well as investing activities, up by 105% as compared to the previous corresponding period. At the end of the June 2019 quarter, the company had net cash and cash equivalent worth $3.1 million. The result was the outcome of robust progress in new B2B customer orders.
During the June 2019 quarter, the company released phase one of its ‘white label’ screening and authentication solution, which helped the company to secure Visy Industries as the white label’s foundation large enterprise customer.
Stock Performance: The shares of CV1 have been on an upsurge, providing returns of 340% in the previous 6 months. The shares are trading at A$ 0.235 up by 6.8% as compared to its previous closing price. CV1 is trading close to its 52 weeks high price A$ 0.240. CV Check Ltd has a market cap of A$ 60.06 million with ~ 272.98 million outstanding shares (as at AEST: 12:15 PM, 8 July 2019).
Security Matters Limited
About the Company: Security Matters Limited (ASX: SMX) is an ASX listed company, which owns and has started the commercialization process of its technology to mark any object belonging to any form of matter (solid, liquid or gas) permanently and irrevocably. The patented technology of the company uses a unique reader to target the matching saved data, logged and protected using blockchain technology.
Recent Update/s: On 4 July 2019, Security Matters Limited announced that it has delivered 500k library codes from SMX markers. These 500k library codes were delivered in the first half of 2019 and the volume was ten times more than the original target, as highlighted in the IPO prospectus, which was released in the month of October 2018.
The library codes have been engineered from SMX markers and are used for logging data on the blockchain. Apart from this, these codes can also be used and adapted to offer customers a variety of bespoke verification solutions for their goods.
This is a significant achievement for the company and its research & development team. Moreover, it showcases the potential of the company to deliver as per the set target during the IPO.
Stock Performance: SMX has given a decent return of 31.15% in the previous 6 months. The shares of SMX are trading at A$ 0.405, up by 1.25% as compared to its previous closing price. Security Matters Limited has a market cap of A$ 43.96 million with ~ 109.91 million outstanding shares (as at AEST: 12: 28PM, 08 July 2019).
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