Top Six Explosive Technology Shares on the ASX
The most explosive software companies on the ASX are up almost 40% in the first two weeks of November so far where FinTech is the common thread for most of these leaders. Class Limited (CLS) are up +37%, coming form a low base after a tough few years after the strong IPO. Investor days and AGM have been the catalyst for CL1. The key points discussed were: CL1 have passed the 180,000 accounts milestone last quarter, doubled since the December 2015 IPO. Now with 28% of the SMSF market, up from 16% and their core product, Class Super has a 99% retention rate. Recently announcing the focus to add a similar product for trust accounting. Catapult Group (CAT) - up +35% for the last two weeks. This one we've been updating investors on since 2014, announced a key Rugby Australia contract - interestingly the share price shot up a few days before the news was sent the ASX. Making investors wonder who knew and traded on the knowledge before other investors got a chance to digest the deal. Change Financial (CCA) - up +28% over the fortnight. We've looked at Change before when they recevied the first US Mastercard certified processor in the last 5 years, and second in 20 years. That took the share price from $0.15 to $0.54. Now the company is issuing a convertible note to help the company along the development and integration schedule. Other top performers are Big Tin Can (BTN) + 16%, Volpara Health +14% and RPM Global (RUL) + 12%. That rounds out the top performers for the last two weeks from the Software space and we’ll come to you next week with the latest leading companies leading the market higher.