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Wednesday, 20th March 2019 11:47 - by Rajan Dhall
Below is the weekly chart of LSE listed Audioboom (BOOM). The company are a podcast hosting company with more than 4000 broadcasters. It was said in the latest RNS from the company that Candy Ventures, a company controlled by Nicholas Candy, has increased its holding in the Co. to 293,510,278 ordinary shares. This amounts to 22.78 per cent. of the Company's total issued ordinary shares.
It's clear to see that the digital media industry is growing at a rapid pace and this company looks set to take advantage of the trend. On 26th Fed the company also raised funding by issuing 115m shares at a price of 1.3p as you can see today the price has topped 2.38p so some of those investors must be happy with the return on that investment but what is concerning is the fact that Nick Candy was said to have invested then too. Is he pumping more money in to keep the company afloat or does he think business will go from strength to strength?
In the latest report published on 28th Jan 2019 the Co. here were the highlights:
Looking at the weekly chart it's clear to see the downtrend is now reversing the 2.50p psychological area could cause some resistance but it will be very interesting if the revenue can continue on the upward trajectory at the next update.
The Writer's views are their own, not a representation of London South East's. No advice is inferred or given. If you require financial advice, please seek an Independent Financial Adviser.