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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

Original meme stock GameStop (NYSE: GME) continues to be popular on social media, with many retail traders holding firm to their belief in the company. GameStop shares jumped Tuesday morning after the company announced it has raised additional capital. As of 10:35 a.m. EDT, GameStop shares are up about 10%.

So what

GameStop announced it has completed a previously announced sale of shares that it said has raised over $1.1 billion. The company sold all the 5 million shares for which it was authorized at an average share price of $225.20. GameStop shares closed Monday’s session at just over $200 per share.

Now what

GameStop is in the midst of attempting to transition its business to focus on digital sales and customer growth. The efforts are being guided by Ryan Cohen, co-founder and former CEO of e-commerce company Chewy (NYSE: CHWY). GameStop said the new capital will partially be used for “investing in growth initiatives and maintaining a strong balance sheet.”

For its fiscal first quarter (ended May 1, 2021), though sales grew 25% year over year, GameStop still reported a net loss of almost $67 million. As it remakes itself, the company has brought in executives from Amazon (NASDAQ: AMZN) to become its new CEO and CFO.

The company wants to add to its existing digital expertise, and said in a statement that it “is continuing to actively pursue senior talent with gaming, retail and technology experience.” The additional capital on its balance sheet should help aid its business strategy. That is what the group of retail investors were hoping for when the stock became a Reddit favorite, and GameStop took advantage of it today with the announcement of the recently raised capital.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Here’s why GameStop jumped Tuesday appeared first on The Motley Fool Australia.

More reading

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• ASX investors couldn’t get enough of meme stocks last week
• ‘Big Shorter’ Michael Burry calls biggest share market bubble of all time
• What is a meme stock, and why is everyone talking about them?
• GameStop earnings: No sign of a turnaround

Howard Smith owns shares of Amazon. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Amazon. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Chewy, Inc. and has recommended the following options: long January 2022 $1,920 calls on Amazon and short January 2022 $1,940 calls on Amazon. The Motley Fool Australia has recommended Amazon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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In early afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is out of form and tumbling lower. At the time of writing, the benchmark index is down 0.4% to 7,310.8 points.

Four ASX shares that have not let that hold them back today are listed below. Here’s why they are pushing higher:

Actinogen Medical Ltd (ASX: ACW)

The Actinogen share price has jumped 14% to 16.5 cents. This morning the biotechnology company provided an update on its dealings with the US Food and Drug Administration (FDA). The release explains that Actinogen has received written supportive US FDA advice in response to its Pre-Investigational New Drug Application (Pre-IND) submission for its fragile X syndrome (FXS) program.

Novonix Ltd (ASX: NVX)

The Novonix share price is up over 3% to $2.21. This morning the battery materials company announced plans to purchase a new plant. Once renovations are complete, the plant will produce up to 8,000 tonnes per annum of anode materials. Combined with its existing operations, Novonix will have total capacity of 10,000 tonnes per year. The new facility will come online by the 2023 calendar year.

ResMed Inc. (ASX: RMD)

The ResMed share price is up 1.5% to $32.50. This appears to have been driven by a broker note out of Macquarie this morning. That note reveals that the broker has upgraded the sleep treatment focused medical device company’s shares to an outperform rating with a $34.85 price target. It believes ResMed can win market share following the recent recall of the Philips DreamStation devices.

Zip Co Ltd (ASX: Z1P)

The Zip share price is up 5.5% to $8.53. A number of tech shares are pushing higher today after a strong night for the Nasdaq index. This has led to the S&P/ASX All Technology Index (ASX: XTX) climbing 0.9% this afternoon. In addition to this, news that Paypal is increasing its BNPL pricing may have given Zip’s shares a boost.

The post Why Actinogen, Novonix, ResMed, & Zip shares are pushing higher appeared first on The Motley Fool Australia.

More reading

• ASX 200 down 0.5%: Costa’s acquisition, Afterpay & Zip charge higher
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• Why the Actinogen (ASX:ACW) share price is rocketing 17% higher
• Why the Novonix (ASX:NVX) share price is surging 5% today
• Liar loans could return to haunt ASX bank shares as 1-in-5 borrowers lie to lenders

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 ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has recommended ResMed Inc. 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 Adacel Technologies Limited (ASX: ADA) share price is edging higher today on a contract win.

At the time of writing, the flight simulator company’s shares are up 3.40% to an intraday high of 91 cents.

What did Adacel Technologies announce?

Investors are snapping up Adacel shares after the company provided a positive update.

In today’s statement, Adacel announced that it has been awarded a contract from the Seychelles Civil Aviation Authority (SCAA).

The deal, valued more than US$3.6 million, will see Adacel replace the current air traffic management system in Seychelles. The modernisation program will involve installing the company’s Aurora Air Traffic Management system over a 24-month period.

Adacel stated that the Aurora system “integrates oceanic, approach, and tower control capabilities and allows for optimal, fuel efficient routing”. It is expected that once the system is online, service delivery will improve through advanced air traffic control management solutions.

Adacel CEO, Daniel Verret commented:

We are thrilled to welcome SCAA as our newest customer. Our team looks forward to delivering on our commitments to modernize SCAA’s Air Traffic Management system and implementing higher airspace efficiency.

In line with our plan to modernize our various infrastructures, SCAA is excited to see its air traffic management system advancing to the next level despite the delay incurred from the Covid-19 pandemic. Our team is looking forward to embark on this crucial journey with a prestigious company like Adacel. SCAA is confident that Adacel will deliver on its promise for safe, reliable and efficient products and services.

Adacel share price snapshot

In the past 12 months, Adacel shares have risen by more than 120%, but have fallen 7% year-to-date. The company’s share price reached a 52-week high of $1.10 following the release of its half-year results.

On today’s price, Adacel has a market capitalisation of around $69 million, with almost 76 million shares on issue.

The post Why the Adacel Technologies (ASX:ADA) share price is climbing today appeared first on The Motley Fool Australia.

More reading

• Sydney Airport (ASX:SYD) share price is slipping amid COVID border chaos
• Here’s why Respiri (ASX:RSH) share price is up 10% today
• Elixir Energy (ASX:EXR) share price storms higher on operations update
• ASX 200 down 0.5%: Costa’s acquisition, Afterpay & Zip charge higher
• Why BioNTech trounced the Market on Tuesday

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 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 Sydney Airport Holdings Pty Ltd (ASX: SYD) share price is falling amid border chaos as the COVID cluster escalates out of Sydney’s eastern suburbs.

At the time of writing, shares in Australia’s largest airport are down almost 2%, trading for $5.81. In comparison, the S&P/ASX 200 Index (ASX: XJO) is currently down 0.51%.

Just last night, NSW Health announced a positive case had flown to Wellington, New Zealand on a Qantas Airways Limited (ASX: QAN) flight before returning 3 days later aboard an Air New Zealand Limited (ASX: AIZ) flight.

Throwing many travellers plans into chaos, Victoria, Queensland, and South Australia have responded by locking out anyone who has been to one of 7 Sydney council areas around the cluster.

Western Australia now requires anyone from NSW to isolate until they receive a negative test while the New Zealand government has suspended its travel bubble with Australia’s most populous state for at least 72 hours.

There is even speculation New Zealand may lock down Wellington because of the case that flew in. As we have seen before, Australian state governments are not hesitant when it comes to closing their borders. New Zealand could be the next place to be shut out by Australia’s states if it were to lockdown its capital.

States shutting their borders to the harbour city may be a factor contributing to today’s downturn in the Sydney Airport share price.

Domestic borders and travel companies

Qantas CEO, Alan Joyce has previously talked about the need for Australia’s domestic borders to remain open as much as possible.

In March, he told an Australian Senate inquiry it would be of benefit to his company to keep borders open.

“What we are looking for is an assurance that at a point in time, or at a point in the vaccine rollout, further border closures will be ruled out,” he said.

“Any chance of sustainable domestic recovery is contingent on state and territory borders remaining open.

“We know that people are keen to travel when they have confidence in borders.”

Flight Centre Travel Group Ltd (ASX: FLT) CEO Graham Turner has also said he sees “no reason” for state’s to continue shutting their border and has been vocal in the past about keeping Australia open as much as possible.

And Sydney Airport CEO Geoff Culbert has talked about how the state’s opening borders has led to increased revenue due to “pent-up demand” to travel.

Sydney Airport share price snapshot

After a tough 2020 disrupted by COVID-19, the Sydney Airport share price has clawed its way back into the green, up 1.18% over the past 12 months. However, the current share price of around $5.80 is well below the levels Sydney Airport shares were trading for at the start of 2020, when they were closing in on $9 apiece.

Sydney Airport has a market capitalisation of around $16 billion.

The post Sydney Airport (ASX:SYD) share price is slipping amid COVID border chaos appeared first on The Motley Fool Australia.

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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 recommended Flight Centre Travel Group Limited. 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 Respiri Ltd (ASX: RSH) share price is racing higher today after the company announced the addition of another pharmacy network for the sale of its wheezo product.

Upon the commencement of trade this morning, shares in Respiri increased by as much as 24% to 8.7 cents a share. However, the share price has since pulled back from its intraday high.

At the time of writing, the Respiri share price is fetching 7.7 cents, up 10% for yesterday’s close.

Sigma Healthcare to stock wheezo

Investors are buying up shares in the respiratory health management company Respiri.

According to the release, the company’s asthma management device wheezo will commence sales across pharmacies within the Sigma Healthcare Ltd (ASX: SIG) network Australia-wide.

Sigma’s network includes over 570 pharmacies, across Amcal+, Chemist King, Discount Drug Stores, Guardian, Pharmasave, and Wholelife.

Shareholders would be pleased with today’s resultant Respiri share price movement. CEO and Managing Director of Respiri, Mr Marjan Mikel stated:

Sigma is a well-known and trusted pharmacy business whose brands have a long history in the Australian market, that patients frequent when seeking healthcare management advice. We look forward to a long and mutually beneficial partnership with Sigma’s retail brands that will deliver better health outcomes for patients with asthma.

The company also noted that it is in active discussions with other pharmacy groups. This ‘pharmacy pipeline’ represents a footprint of over 2,500 stores across Australia.

Respiri gave fair warning that it will provide further announcements once discussions are finalised.

The Respiri share price still struggling

Despite being busy adding several pharmacy brands for wheezo distribution, the Respiri share price is in the deep red year-to-date.

Since the start of the year, the company’s shares have fallen 38%. This might be due to investors being turned off the growth in losses.

At the end of 2019, the company made a $6.79 million loss. Unfortunately for shareholders, this loss increased to $12.23 million for the year ending December 2020.  

The post Here’s why Respiri (ASX:RSH) share price is up 10% today 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. 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 Elixir Energy Ltd (ASX: EXR) share price is racing higher today following the release of an operations update.

At the time of writing, the energy producer’s shares are up 7.14% to 30 cents.

Let’s take a closer look at what the company announced.

How is Elixir tracking along?

According to its release, Elixir provided a mixed update to its operating performance over the last month. This relates to its current exploration campaign at its wholly-owned Nomgon IX Coal Bed Methane (CBM) Production Sharing Contract (PSC).

Located within the Nomgon project in Mongolia, the company advised that it’s West Yangir-1 core-hole has intersected 48 meters of coal. This was achieved upon drilling to a depth of 350 meters. However, the drilling hole has been met with some difficulty. The company stated that it has encountered various mechanical issues along with unfavourable drill-hole conditions.

Moving across to the far North-West of the PSC, the Manlai-1S exploration well has also faced mechanical issues during drilling. As a result, the planned target depth was not reached.

While the first two wells stumbled across drilling problems, investors appear to have focused on the new coal find. Elixir highlighted that it moved the Top Diamond LLC rig to a new sub-basin in the PSC, named Kingston-1S. Upon spudding the well, the company discovered new coal.

Elixir managing director, Neil Young said:

The very thick total coals measured in the West Yangir-1 well have been highly encouraging, as has the discovery of coals in the drilling to date in the new Kingston location. Our ongoing program for 2021 (and the years thereafter) has many more wells to come and is still being vigorously prosecuted, notwithstanding the global pandemic. Mongolia’s resilience in dealing with the varying challenges that COVID has thrown up is to be commended.

In addition, Elixir’s 2021 2D seismic program has finished its originally planned 220 kilometres phase. Processing and interpretation are currently being conducted to find new exploration targets for future drilling programs. An expansion of the seismic program is also being planned.

About the Elixir share price

Since mid-April, Elixir shares have had a disappointing run, falling close to 40% from its multi-year high of 51 cents. Although, when comparing against this time last year, the company’s share price took off, gaining more than 650%.

Elixir has a market capitalisation of around $249 million, and approximately 891 million shares registered on its books.

The post Elixir Energy (ASX:EXR) share price storms higher on operations update appeared first on The Motley Fool Australia.

More reading

• ASX 200 down 0.5%: Costa’s acquisition, Afterpay & Zip charge higher
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• Top brokers name 3 ASX shares to buy today

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 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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At lunch on Wednesday, the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. The benchmark index is currently down 0.5% to 7,305.3 points.

Here’s what is happening on the market today:

Costa capital raising and acquisition

The Costa Group Holdings Ltd (ASX: CGC) share price is in a trading halt on Wednesday as it raises $190 million to fund the acquisition of 2PH Farms. Queensland-based 2PH Farms is the largest citrus grower in northern Australia. It has farming operations in Central Queensland, with a main growing location at Emerald and a smaller location at Dimbulah. 2PH is expected to generate ~$29 million in EBITDA-S in calendar year 2021 on a pro forma basis.

Tech shares rise

One area of the share market that is pushing higher today is the tech sector. The likes of Afterpay Ltd (ASX: APT) and Zip Co Ltd (ASX: Z1P) are recording solid gains and helping to drive the S&P/ASX All Technology Index (ASX: XTX) 1.2% higher. This appears to have been driven largely by the Nasdaq index storming to a new record high overnight. Though, these two BNPL providers were also given a boost by Paypal announcing price increases to its BNPL offering.

ResMed upgraded

The ResMed Inc. (ASX: RMD) share price is rising today after Macquarie upgraded the sleep treatment focused medical device company’s shares. Macquarie has put an outperform rating and $34.85 price target on its shares. It believes ResMed can win market share following the recent recall of the Philips DreamStation devices.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Wednesday has been the Zip share price with a 6% gain. This follows improving investor sentiment in the tech sector. The Zimplats Holdings Ltd (ASX: ZIM) share price is the worst performer on the index today with an 8% decline. This is despite there being no news out of the platinum producer.

The post ASX 200 down 0.5%: Costa’s acquisition, Afterpay & Zip charge higher appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to buy today
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• 5 things to watch on the ASX 200 on Wednesday
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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 AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO and COSTA GRP FPO. The Motley Fool Australia has recommended ResMed Inc. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

BioNTech‘s (NASDAQ: BNTX) shares rose higher than that of the Nasdaq Composite index on Tuesday, which is impressive given that the latter vaulted a new all-time record. The company’s stock advanced by 4.6% on the back of some happily surprising news for its investors.

So what

In its annual shareholder meeting on Tuesday, BioNTech’s COO and CFO Sierk Poetting revealed the company is considering a shareholder dividend. 

“In the next financial year, the Management Board and the Supervisory Board will examine, in accordance with the legal and statutory provisions, whether and in what amount a resolution on the distribution of dividends should be proposed to the Annual General Meeting,” he said.

Poetting did not speculate about said amount, nor did he provide a more specific time frame. He did point out that, thanks in no small part to the flotation of new stock last year, the biotech’s cash and cash equivalents more than doubled year over year at the end of 2020. As of Dec. 31 of that year, they stood at slightly over 1.21 billion euros ($1.44 billion), from the end-of-2019 tally of 519 million euros ($617 million).

Now what

BioNTech is busy developing messenger RNA (mRNA) treatments such as the wildly successful BNT162b2 coronavirus vaccine it collaborated on with Pfizer. While a dividend will make the stock that much more attractive, it likely won’t be large, given the ambitious biotech’s still-considerable need to spend capital in other areas (notably research and development).

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Why BioNTech trounced the Market on Tuesday appeared first on The Motley Fool Australia.

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Eric Volkman 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.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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BetMakers Technology Group Ltd (ASX: BET) has certainly been busy. The provider of wagering data and analytic products has announced another two acquisitions this morning.

Today’s newly announced acquisitions come only 5 days after the completion of the company’s Sportech purchase.

What did BetMakers announce?

BetMakers has announced the acquisition of two companies – Form Cruncher and Swopstakes. As part of the acquisition, BetMakers will take ownership of the technology platform assets, databases, and intellectual property of both entities.

In the release, ASX-listed BetMakers describes Form Cruncher as a company that, “processes racing event data such as odds, price fluctuations, sectional times, and results to create advanced form information and dynamic content that can be adapted and customised globally.”

The output from this technology is a range of features including runner ratings, speed ratings, and maps.

Similarly, Swopstakes is the second company part of today’s announced acquisitions. Swopstakes holds a proprietary betting product that runs sweepstakes on racing and sports events including AFL, NRL, NBA, and NFL.

Commenting on the announcement, BetMakers CEO Mr Todd Buckingham said:

BetMakers currently supplies multiple sources of informatics globally and the acquisition of Form Cruncher will allow us to bring this in-house and create a normalised offering across all of our global jurisdictions in which we operate.

Mr Buckingham also noted the meaningfulness of Swopstakes;

We believe there is an opportunity to adapt the product for our clients and achieve scale through integration, promotion and distribution through BetMakers’ extensive global network

Let’s talk money

Both acquisitions are to be funded through a mixture of the company’s current cash reserves and the issue of shares.

Firstly, Form Cruncher (FC) will receive an initial upfront cash payment of $1 million. In addition to that, nominees of FC will be issued 443,262 ordinary shares in BetMakers at $1.128 apiece.

A performance payment worth a maximum of $1 million will also be available dependent on performance milestones over the 2023 financial year.

Meanwhile, the Swopstakes acquisition will be funded via an upfront cash payment of $634,750. An additional performance payment up to $15 million will also be paid depending on the profit generated by Swopstakes post-acquisition.

BetMakers share price making an ASX comeback

In late May BetMakers threw its hand up in a bold acquisition bid for Tabcorp Holdings Limited (ASX: TAH) Wagering and Media business. The BetMakers share price swiftly tumbled around 35% following that announcement.

However, with no further developments on the Tabcorp front, the company is pushing forward elsewhere. As a result, the company’s share price has rallied 18% in the past two weeks.

The post BetMakers (ASX:BET) builds out tech with more acquisitions appeared first on The Motley Fool Australia.

More reading

• BetMakers (ASX:BET) share price lifts on wagering milestone
• Why Afterpay, Betmakers, Bubs, & Starpharma shares are racing higher
• BetMakers (ASX:BET) share price is racing 11% higher after this acquisition
• Why the BetMakers (ASX:BET) share price isn’t going anywhere today
• BetMakers and Zip were among the most traded ASX shares last week

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 Betmakers Technology Group Ltd. The Motley Fool Australia has recommended Betmakers Technology 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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Catapult Group International Ltd (ASX: CAT) shares are locked in a trading halt this morning following the company’s announcement regarding a new acquisition and capital raising.

The Catapult share price closed yesterday’s session 6.3% higher at $2.18. Let’s take a look at what the company announced this morning.

Catapult shares frozen

Catapult shares won’t be going anywhere on Wednesday after the company advised it’s undergoing a $57 million capital raising at $1.90 per share. The funds are being raised for the acquisition of SBG Sports Software Limited, a global leader of video and data analysis solutions for elite sports teams and motorsports.

Under the acquisition terms, Catapult will be forking out $20 million in cash and $20 million to $25 million in new Catapult shares to buy company.

Catapult believes bringing on board video data solutions will accelerate its growth in an unpenetrated section of its core market.

What does SBG do?

SBG began as a software developer to support data analysis, visualisation and video capture for the motorsports industry.

The company has a number of high profile partners including Mercedes, BMW, Porsche, and Audi. SBG provides solutions that help its clients make faster, more accurate and consistent decisions on the race track.

SBG has since expanded into traditional sports, with a suite of products to help coaches break down factors driving team performance and reduce weekly workflow times.

The company has seen a “remarkably fast adoption” of its technology in the European football leagues, with 70% of the English Premier League using at least one product within the last four years, and 38% of the German football league using at least one product within two years of market entry.

From a financial perspective, SBG’s revenue grew by 28% in FY21, with 100% of revenue derived from subscription.

Growth outlook

Catapult is confident that the SBG acquisition will drive its continued short to medium-term annual contract value (ACV) growth.

Through the capital raising, Catapult has also announced its plans to allocate $17 million for an expansion in its technology, product and data science capabilities.

According to the capital raising presentation, the company is confident in its long-term strategy to expand its ACV to 10 times its current size.

Catapult share price snapshot

Excluding the March 2020 selloff, the Catapult share price has largely been range bound between highs of $2.20 and lows of $1.60 since November 2019.

The company was heavily impacted by COVID-19 lockdowns as the competitive sporting industry came to a grinding halt. However, Catapult has seen a slow pickup in revenue growth, evidenced by its FY21 results.

Catapult shares are expected to resume trading by Thursday 24 June.

The post Catapult (ASX:CAT) share price halted ahead of $57m capital raising 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. owns shares of and has recommended Catapult Group International Ltd. The Motley Fool Australia owns shares of and has recommended Catapult Group International 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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