Why the Manalto Share Price Rose Today

Touching Stock Market Chart

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.

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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