Shares in 88 Energy Ltd (ASX: 88E) are soaring for the second day in a row despite the company not releasing any price-sensitive news to the market. At the time of writing, the 88 Energy share price is trading at 3.8 cents – 22.58% higher than its previous close. It also gained 11.5% yesterday.

The latest gains seem to be a reaction to 88 Energy completely repaying all its outstanding debt yesterday. However, yesterday’s news was simply following up on an announcement 88 Energy made on 21 June.

To get a feel for today’s mystery movement, let’s take a look at what 88 Energy has been up to lately.

The month that’s been for 88 Energy

Over the past 30 days, the 88 Energy share price has gained a whopping 76%. Here’s all we’ve heard from the company last month.

More working interest

The first news we heard from 88 Energy last month came on 7 June, when the company announced it had decided to purchase the 50% of Project Peregrine’s working interest it didn’t already hold from its joint venture partner.

Project Peregrine is an oil field in Alaska.

The purchase cost 88 Energy $18 million, which it can pay in shares.

While the news seemed positive, it drove the 88 Energy share price to close 9% lower.

Debt free

Then, on 21 June, 88 Energy announced it was about to pay off its US$16.1 million of outstanding debt.

A subsidiary of the company held Alaskan oil and gas tax credits, valued at US$18.7 million.

The sale also boosted 88 Energy’s coffers by US$2.6 million.

Additionally, the financier holding the company’s debt waived all early repayment penalties.

Yesterday, 88 Energy confirmed the debt repayment was complete.

Positive test results

On 24 June, 88 Energy announced it had received encouraging results from preliminary tests at the Merlin-1 Well, located in Project Peregrine.

The tests showed oil within the well had no signs of biodegradation. They help to build on the company’s knowledge of the quantity and mobility of the well’s hydrocarbons, as well as the project’s commercial potential.

New ESG measures

Finally, on 30 June, 88 Energy adopted the environmental, social, and governance (ESG) framework designed by the World Economic Forum to be the global standard.

88 Energy share price snapshot

The 88 Energy share price has been performing exceptionally well lately, gaining around 362% year to date.

It is also 640% higher than it was this time last year, when its shares were worth 0.5 cents.

The company has a market capitalisation of around $493 million, with approximately 13 billion shares outstanding.

The post The 88 Energy (ASX:88E) share price is up 23% today appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The IDP Education Ltd (ASX: IEL) share price is rocketing higher on Friday.

At one stage, the language testing and student placement company’s shares were up 20% to a record high of $29.49.

When the IDP Education share price hit that level, it was up 43% since the start of the year.

Why is the IDP Education share price rocketing higher?

Investors have been buying the company’s shares after both the market and brokers responded positively to the announcement of a new acquisition.

After the market close on Thursday, IDP Education revealed that it has entered into a binding agreement to acquire 100% of the British Council’s Indian International English Language Testing System (BC IELTS India) operations for 130 million pounds (~A$240 million).

IDP Education and the British Council currently both administer IELTS tests in India, operating parallel pan-Indian distribution networks. However, post transaction, IDP Education will be the sole distributor of IELTS in the key Indian market.

The release explains that the transaction is estimated to be approximately 13% earnings per share accretive (pre-synergies) on a pro forma calendar year 2019 basis. It also sees scope for material combination benefits, with estimated run-rate synergies of A$6 million to A$8 million expected to be delivered within 24 months of completion.

In addition to the acquisition, the company provided a brief update which revealed that trading conditions have improved in recent weeks.

Broker response

A number of brokers have responded positively to the news. Morgans, Morgan Stanley, UBS, and Goldman Sachs have all retained their equivalent of buy ratings this morning.

In respect to the latter, this morning Goldman Sachs reiterated its buy rating and $29.90 price target on the company’s shares.

It commented: “In our view this transaction makes good strategic sense for IDP, with India the largest IELTS market globally (by volume). The company has guided to A$6-8mn synergies, which in our view should be achievable given IEL’s knowledge of BC’s Indian operations and its position in the market. We think India presents a strong long-term growth opportunity for IDP. Economic growth, increasing wealth and a relatively young population in India provide a positive demographic backdrop for an increasing propensity to study abroad.”

Goldman also sees further opportunities for consolidation.

“Although India is the key market for IDP, we note this transaction could also open up the opportunity for further IELTS consolidation between IDP and BC in other markets. IDP and BC compete for delivery of the test in markets such as: Canada, USA, South Korea, Hong Kong, Singapore and other major South East Asian countries. IDP exclusively delivers the test in Australia and Iran, while BC controls distribution in the UK and China,” the broker added.

Finally, Goldman remains positive on its outlook. It explained: “We believe IELTS testing volumes should grow at mid to high single digits over the medium term as global economies reopen. The test is approved/required not only for international students wanting to study in Australia, the UK and Canada but also for work visas and other migration. Any further consolidation of the delivery of the test could be earnings accretive for IDP.”

The post Why the IDP Education (ASX:IEL) share price is up 20% to a record high appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Idp Education Pty Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Superloop Ltd (ASX: SLC) shares are edging lower in midday trading today after the company announced it had successfully completed its planned retail entitlement offer.

At the time of writing, the Superloop share price is trading at 93.75 cents, 0.27% in the red from yesterday’s close.

Let’s dive into what happened this morning.

Successful retail entitlement offer

Back on 8 June, Superloop announced its intention to complete a fully underwritten $100 million equity capital raise.

The raise was to be completed via an entitlement offer of new Superloop shares totalling $51 million, plus an institutional placement to institutional investors, to raise $49 million.

The entitlement offer is comprised of an institutional component and a retail component, known as the ‘retail entitlement offer’.

Both the institutional placement and institutional component of the entitlement offer settled successfully on 17 June 2021, with a total of $78.8 million raised, according to the company.

Today’s announcement outlines that the retail entitlement offer settled on 29 June, raising $21.2 million. Approximately 22.8 million new Superloop shares will be issued under this offer on 6 July, the company stated.

The new shares issued under the offer are expected to commence trading on the ASX from 7 July.

Superloop share price snapshot

The Superloop share price has largely walked southwards since 1 January and is currently around 10% in the red since then.

Superloop shares are also down by around 7% over the previous month but have traded up by around 1% over the previous 5 sessions.

Over the last 12 months, Superloop shares have posted a loss of almost 13%, which is well below the S&P/ASX 200 Index (ASX: XJO)’s return of around 20% over this time.

With the current Superloop share price of 93.75 cents, the company has a market capitalisation of around $423.5 million. It is currently trading off its 52-week high of $1.25.

The post Superloop (ASX:SLC) share price slips following successful retail offer appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended SUPERLOOP FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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After a calamitous 16-year reign, the chair of iconic Australian brand Hills Ltd (ASX: HIL) has announced her retirement.

Jennifer Hill-Ling, whose family founded the company in 1948, stepped down as chair immediately on Thursday and will leave the board altogether “later in the year”.

Former chief of Pro Medicus Limited (ASX: PME), David Chambers, will take over in leading the board. He’s also the current chair of Mach7 Technologies Ltd (ASX: M7T).

Hill-Ling’s great uncle Lance Hill invented the famous Hills Hoist rotary clothesline in 1945. Her grandfather Harold Ling joined his brother-in-law to start mass manufacturing the product that would become a staple of Australian backyards.

Both co-founders had stints as chair, before Hill-Ling’s father Robert Hill-Ling took over. Jennifer took the reins in late 2005.

Unfortunately, her tenure has not been successful for shareholders, as a series of business decisions took the Hills share price from a high of $6.72 in August 2007 to just 14 cents after market close on Thursday.

That’s a painful 98% loss.

Hills doesn’t make clothes lines anymore

The Adelaide company sold off the rights to the clothes hoists a few years ago and is now involved in sectors that are far removed from its original product.

“It has been a great privilege and honour to serve as a director of Hills and, for the past 16 years, as its chairman,” said Hill-Ling.

“During this time, Hills has established a leading healthcare business providing nurse call and patient engagement solutions that is well positioned to expand further within the health technology sector.”

On behalf of her family, she endorsed the new chair Chambers, his board and their plans for the business.

“I am confident that Hills is well-placed to continue to grow its businesses,” she said.

“They have and will continue to have the support of the Hill-Ling family as they implement the company’s growth initiatives.”

The Hills share price has lifted 3.57% this morning and is trading at 14.5 cents at the time of writing.

The post ASX company boss finally exits after 98% wiped off share price appeared first on The Motley Fool Australia.

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Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended MACH7 FPO and Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus Ltd. The Motley Fool Australia has recommended MACH7 FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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At lunch on Friday, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. The benchmark index is up 0.25% to 7,284.6 points.

Here’s what is happening on the market today:

IDP Education rockets on acquisition news

The IDP Education Ltd (ASX: IEL) share price is rocketing higher after announcing a new acquisition. The language testing company has entered into a binding agreement to acquire 100% of the British Council’s Indian International English Language Testing System (BC IELTS India) operations. The two parties have agreed a fee of 130 million pounds on a debt free, cash free basis. This deal will mean that IDP Education is the sole distributor of IELTS in the key Indian market. Management also revealed that trading conditions are improving.

Westpac’s $87 million bill

The Westpac Banking Corp (ASX: WBC) share price is trading higher today despite being hit with a $87 million bill. This morning ASIC revealed that Westpac has agreed to pay an estimated $87 million to customers who were not provided with critical information from its financial advice business. Westpac will compensate 32,000 affected customers that were impacted by failures between 2005 and 2019.

Tech shares fall

A number of tech shares have come under pressure on Friday after a subdued night of trade on the Nasdaq index. Shares such as Afterpay Ltd (ASX: APT) and WiseTech Global Ltd (ASX: WTC) are underperforming and acting as a drag on the ASX 200. The S&P/ASX All Technology Index (ASX: XTX) is down by 0.5% at the time of writing.

Best and worst ASX 200 performers

The best performer on the ASX 200 today has been the IDP Education share price with a 17% gain following its acquisition announcement. The worst performer has been the Megaport Ltd (ASX: MP1) share price with a 4.5% decline. This appears to have been driven by weakness in the tech sector on Friday.

The post ASX 200 up 0.25%: IDP Education rockets, Westpac hit with $87m bill appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro owns shares of Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Idp Education Pty Ltd, MEGAPORT FPO, and WiseTech Global. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO and WiseTech Global. The Motley Fool Australia has recommended MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Cashrewards Ltd (ASX: CRW) share price is soaring 17.2% to 1.09 cents this morning after the company announced a strategic partnership with one of Australia’s leading banks.

This comes after shares in the cashback ecosystem surged an astonishing 29.17% to 93 cents yesterday, despite no news being out of the company.

Cashrewards is Australia’s number 1 cashback site, paying customers back a percentage of what they spend, with over 1,700 retailers on board.

Let’s take a look at what’s driving the Cashrewards share price today.

What did Cashrewards announce?

Cashrewards has entered into a strategic partnership with Australia and New Zealand Banking Group Ltd (ASX: ANZ) to create a new product, Cashrewards Max.

The announcement states that the product will include core Cashrewards features as well as enhanced cashback offers, faster cashback from certain merchants and “exclusive experiences”.

Cashrewards Max is expected to launch in August 2021 with an initial agreement term of three years. However, Cashrewards views this as an opportunity which “creates a framework for further exciting product innovation in the coming years”.

The launch will offer ANZ consumer debt and low-fee credit card customers who are new to Cashrewards, a chance to earn card-linked rewards for the first time. ANZ’s premium credit card members will be entitled to Cashrewards Max alongside core features.

According to the announcement, Cashrewards and ANZ will jointly invest in a multi-million dollar marketing campaign to promote the new product.

What did management say?

Cashrewards CEO Bernard Wilson welcomed the news, saying:

This is a key milestone in our strategy. We expect Cashrewards Max to help cement Cashrewards as Australia’s default cashback ecosystem and to accelerate our mission to grow the cashback category to match the size of similar international markets

ANZ Group Executive for Data and Automation Emma Gray also added:

In the current low interest-rate environment, our customers are looking for new ways to boost their savings. This partnership responds to that demand by rewarding customers for their current spending behaviour, meaning they can buy now, save now.

This partnership also opens the door for us to engage in more personalised conversations with our customers about how they can use their savings in a smart way, which could be saving for a home or business, or paying down debt.

The Cashrewards share price just surged 55% in two days

In an extraordinary display of strength, the Cashrewards share price rallied 55% from 72 cents closed on Wednesday to $1.115 at the time of writing.

Looking back, Cashrewards listed on the ASX on 2 December 2020, closing at $1.750. The Cashrewards share price briefly hit an all-time record low of 66 cents on 16 June, down 62% since its ASX debut.

The post Why the Cashrewards (ASX:CRW) share price jumped 17% today appeared first on The Motley Fool Australia.

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Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Costa Group Holdings Ltd (ASX: CGC) share price is edging lower during mid-morning trade. This comes after the horticulture company provided investors with its retail entitlement offer information booklet today.

At the time of writing, Costa shares are fetching for $3.26 apiece, down 0.61%.

Costa begins retail entitlement offer

Investors appear mixed on the company’s latest update to the ASX, sending Costa shares slightly lower.

According to its release, Costa announced its pro rata accelerated renounceable entitlement offer has proceeded as planned.

The retail component will see up to 1 share issued for every 6.33 Costa shares owned to eligible shareholders. Listed at an offer price of $3 apiece, the company is hoping to raise gross proceeds of $76 million. This follows the successfully completed Institutional Entitlement Offer which received $114 million in late June. Together, Costa is aiming to raise $190 million from both offers.

Approximately 63 million shares will be created in the retail entitlement offer, representing 15.8% of the existing shares on issue.

The closing date for the retail offer IS on 19 July 2021. The record date has already surpassed (28 June 2021) if you were hoping to be getting in on the action.

Costa is seeking to build up its balance sheet to partly fund the acquisition of the business and assets of 2PH Farms. In addition, the company will pay an upfront cash consideration of roughly $200 million for a Central Queensland based citrus grower.

Costa believes that the purchase will further strengthen its citrus offering, opening greater export supply channels to Asian export markets. Production scale and geographical spread are expected to increase, with the company’s citrus growing regions increasing from two to three.

About the Costa share price

For the past year until late May, the Costa share price was rebound from its COVID-19 lows, moving on an upwards trajectory. However, since the release of its Annual General Meeting (AGM) on 27 May, Costa shares tumbled severely.

When looking at year-to-date alone, the company’s shares are down almost 20%.

Costa presides a market capitalisation of about $1.3 billion, with approximately 401 million shares on its books.

The post Costa (ASX:CGC) share price dips on opening of retail entitlement offer appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Tinybeans Group Ltd (ASX: TNY) share price has soared this morning after the company posted record-breaking results.

At the time of writing, the family-orientated social media platform’s shares are swapping hands for $1.30, up 19.27%.

Record results pushing Tinybeans share price higher

Tinybeans, which is an ASX-listed small-cap share, reported a surge in revenue for FY21 which sent its share price upwards.

According to the release, in Tinybeans’ fourth quarter, the company recorded a record revenue of US$2.58 million, up 70% from US$1.52 million in Q4FY20.

Meanwhile, revenue for the full year was also a record at US$8.23 million. This represents an increase of 109% on the prior year. It seems that the biggest quarter and year for the company has investors scrambling to buy in early trade.

Speaking on the milestone result, CEO Eddie Geller said:

During the pandemic, we purposefully set out to strengthen our sales and marketing capabilities, enhance our appeal to brand partners and subscribers, upgrade product development and ensure our technology platform is robust and highly scalable. These strategic initiatives are delivering accelerated growth, while laying the foundations for ongoing progress in the coming fiscal year and beyond.

Monthly active users of the platform climbed to 4.33 million by the end of the quarter, an increase of 16% on the prior corresponding period (pcp).

Breaking it down and looking ahead

The company delivered record numbers across all revenue streams, all of which were organic.

Breaking it all down, subscription revenue provided the smallest amount of growth in the quarter with an increase of 19% pcp. While the fastest growth was delivered by the company’s e-commerce segment, albeit from a very small base of US$20,000.

In dollar terms, advertising revenue brought in the most substantial increase. Thanks to a rebound in US advertising, Tinybeans ad revenue jumped 82% to US$2.27 million.

Lastly, the company stated it is entering the new financial year with momentum. New products are in the pipeline which it expects should accelerate customer revenues. Back in April, Tinybeans unveiled its integration of pets into the family platform.

Following the Tinybeans share price gain, the company’s market capitalisation is now $59 million.

The post Tinybeans (ASX:TNY) share price skyrockets 19% on record result appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Tinybeans Group Ltd. The Motley Fool Australia has recommended Tinybeans Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The BlueBet Holdings Ltd (ASX: BBT) share price has landed on the ASX boards today after completing its Initial Public Offering (IPO).

In early trade, the mobile-first online wagering provider’s shares jumped 84% to a high of $2.10.

The BlueBet IPO

BlueBet commenced trading on the ASX this morning after successfully completing an $80 million IPO comprising 70.2 million shares at $1.14 per share. This gave the company a market capitalisation of $228.1 million upon listing.

The company raised $44.7 million in primary IPO proceeds, after payment of the costs of the offer.

The bulk of the funds raised through the IPO will be used to expand in Australia and for a push into the US, where it plans to explore deals with casinos, sporting organisations, and media groups to run their sports books in joint ventures. It notes that agreements in three states – Iowa, Virginia and Colorado – are well advanced.

Finally, some of the funds will be used for technology and platform development, to augment its existing market tested, custom-built technology suite.

The BlueBet business

BlueBet is led by Chief Executive Officer, Bill Richmond, and Executive Chairman (and former Sportingbet CEO), Michael Sullivan.

Like market darling Pointsbet Holdings Ltd (ASX:PBH), BlueBet allows users to bet on all Australian and international racing and sports through its website or app. Over the last year, it has doubled its customer numbers to ~90,000 and believes it is well positioned to substantially grow its current ~1.2% share of the market in Australia.

In 2020 the company’s wagering turnover increased 63% to $266.3 million. This is forecast to grow a further 47% to $390.3 million in 2021. And unlike many of its rivals, BlueBet is profitable.

BlueBet’s Chief Executive Officer, Bill Richmond, commented: “BlueBet has experienced strong growth since the business was established in 2015 and with the benefit of the primary IPO proceeds, BlueBet is well-positioned to capitalise on the significant opportunities available to it. BlueBet has experienced strong recent trading performance, leading to FY21 Turnover ($344.7 million) and Active Customers (32,472), both greater than the level forecast in the Prospectus.”

“Once in a lifetime opportunity”

Mr Richmond spoke to The Motley Fool about the company’s future and particularly its opportunity in the massive US market.

He said: “Breaking into the US is a once in a lifetime opportunity. It’s not often you come across an industry where the US is not first in both people and technology but it’s the case with sports betting because it’s been underground until recently.”

“We have the technology and the expertise to take advantage of this greenfield prospect. With tremendous investor support we have raised a very substantial amount of growth capital to attack the emerging US market, which according to some estimates could be orders or magnitude larger than the Aussie market. We feel we are on the cusp of something very big here,” he added.

The post BlueBet (ASX:BBT) share price rockets 84% higher following IPO appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Reckon Limited (ASX: RKN) share price opened higher this morning after Novatti Group Ltd (ASX:NOV) broke its silence on its secret intent to purchase a strategic stake in Reckon. However, the Novatti share price flopped as it broke its trading halt.

Despite starting the day in the green, Reckon shares are now swapping hands for 99 cents – 1.49% less than their previous close.

Reckon’s small dip is nothing compared to that of Novatti shares. At the time of writing, the Novatti share price has fallen 9.84% to trade for 58 cents.

Its drop came after Novatti announced its placement and share purchase plan to raise capital to acquire a stake in Reckon was successful.

Quick refresher

Novatti entered a trading halt on Wednesday as it raised capital to fund its growth strategy, part of which was to acquire at least 15% of Reckon’s outstanding shares.

The trouble was, Reckon had no idea of Novatti’s plans, despite Novatti claiming it had already entered an agreement for the purchase.

Novatti’s alleged agreement involved it buying at least 17 million of Reckon’s shares for $1 each.

Up until that point, the Reckon share price’s 52-week high was 90.5 cents and it had closed the session prior at 79 cents. The news caused the Reckon share price to gain 21% on Wednesday.

Novatti to buy stake in Reckon

Novatti announced today it will be acquiring a 19.9% stake of Reckon, spending around $22.5 million to do so.

Reckon is yet to respond to Novatti’s assertion it’s acquiring a significant stake in the company.

Novatti said its acquisition of 19.9% of Reckon will benefit it as there’s a “tight synergy” between business automation software – Reckon’s area of business – and payment processing – Novatti’s focus.

Novatti raked in $45 million in its capital raise by offering 72.7 million new shares for 55 cents apiece.

The company will use the remaining $22.5 million to fund its growth strategy, other strategic acquisitions, and to progress its bank licensing application.

Reckon share price snapshot

While Reckon was confused by this week’s events, the market took advantage.

The Reckon share price has gained 24% this week – boosting its year-to-date gain to 28%.

It is also 45% higher than it was this time last year.

Reckon has a market capitalisation of around $113 million, with approximately 113 million shares outstanding.

Novatti share price snapshot

Luckily for the the Novatti share price, it has heaps of room to fall before it hits red.

Currently, the Novatti share price is 122% higher than it was at the start of 2021. It has also gained 65% since this time last year.

The company has a market capitalisation of around $156 million, with approximately 244 million shares outstanding.

The post Here’s why the Reckon (ASX:RKN) share price has gained 25% this week appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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