What is Driving the Senetas Corporation Share Price Higher?

Internet security
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What’s Happening to the Senetas Share Price?

Shares in Senetas [ASX:SEN] have risen 100% since last October. Senetas’ primary business is encryption technology.

As I write, the stock is trading just under 10 cents. The stock is also moving up alongside the bullish trend of the general market at the moment.

Why Did This Happen to Senetas Shares?

The stock market is pricing in strong earnings for the company. On the 21st of January, the company gave the market an update reporting higher profits than previously expected.

What Now for Senetas?

Sam Volkering, the technology analyst for Revolutionary Tech Investor, has this to say: ‘In a world where there’s an ongoing digital war these services are essential for protecting sensitive information and keeping it out of the hands of malicious attackers. I believe this is just the beginning for the company.

‘The cyber security market is forecast to be a $166 billion industry over the next three years. Senetas are well positioned to capture a sizeable chunk of that market.’

If you’re interested in the potential of tech stocks to deliver impressive gains to your portfolio, click here.

Callum Newman
Editor, The Daily Reckoning

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Callum Newman

Callum Newman

Callum Newman is the editor of The Daily Reckoning and Associate Editor of Cycles, Trends and Forecasts. He also hosts The Daily Reckoning Podcast. Originally graduating with a degree in Communications, Callum decided financial markets were far more fascinating than anything Marshall McLuhan (the ‘medium is the message’) ever came up with. Today Callum spends his day reading and researching why currencies, commodities and stocks move like they do. So far he’s discovered it’s often in a way you least expect. To have Callum’s thoughts and insights on the current state of the currency, commodities and stock markets delivered straight to your inbox, take out a free subscription to The Daily Reckoning here.
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