What’s Happening to Manalto’s Share Price?
Shares in Manalto Limited [ASX: MTL] listed on the Australian Stock Exchange this week. The offer price of the shares was 20 cents. Since then, the stock price has risen over 35% to currently trade at 29 cents.
Why Did This Happen to Manalto Shares?
It’s always tricky to gauge how a share will perform after it begins to trade publicly. Investors obviously see a lot of potential for growth. Manalto sells a cloud-based software, that, according to the Australian Financial Review, ‘helps organise and manage social media accounts for businesses that have several accounts in different locations’. However, it’s possible that traders have jumped on the rising share price early while the trend is up. It’s possible sSome of the heat might come out of the price. Have to wait and see on this one.
What Now for Manalto?
The company will need to deliver on the projections and growth as forecast in its prospectus to maintain this early momentum. One to watch for now.
Editor, The Daily Reckoning