Although we don’t believe in timing the market or panicking over market movements, we do like to keep an eye on big changes — just in case they’re material to our investing thesis.
What: Shares in Monitise (LSE: MONI) (NASDAQOTH: MONIF.US) spiked higher in early trade this morning, rising by over 10% to post more than a 100% gain over the last 12 months and finish off 2013 as one of the year’s best performers.
So what: Monitise makes money transactions available over the internet, so with the proliferation of gift cards bought and given over the festive period from all number of shops, it has seen a mini boom in the last month, the share price shooting up in response and currently sitting on an all-time high after opening up at 70p this morning.
Now what: The company is seeing global success, too. Over in the States, the National Retail Federation predicted that eight in 10 shoppers would buy a gift card this holiday season, while at the beginning of December Monitise announced the launch of its Mobile Money platform in Hong Kong, with “plans to extend its services into mainland China”.
Indeed, management were part of David Cameron’s trade delegation to China, with the Prime Minister stating: “This Government’s priority is to secure the economic recovery and we are determined to all we can to help British companies to succeed in the global race. I am firmly committed to playing my part which is why I have taken more than 130 business delegates to China, including Monitise. My aim is to open the door for them in this fast-growing market, creating opportunities for them to expand their business.”
