Here is the link for the website. Might be the massive amount of stimulis money flowing into education via the $900 and $950 cash bonus that is having a major effect on its share price. Payments to students started today.
I suspect that many extra students have gone back to study just to collect the cash bonus, and others have had their hours cut at work and have decided to study full-time. Many unemployed have gone back to study too as to collect the bonus. This extra pressure on the education system has upsides to those who cater for them, such as ESN
Recessions tend to have a major effect on people and many go back to study to up-skill etc.
Sold into the gap-up, waiting for the pullback.
The initial exuberance looked too much like a knee-jerk reaction to the 10,000 seats fanfare. If 4.1 does end up holding support, I'll buy back in, but at this stage I treat it as a false break in the "Amateurs' Opening Hour"
There's more to it:
Western Power are messing with powerlines in our street and we have been warned to expect lengthy power outages. Sparkies even came to our door, advising of a major fault in the feeder line to our Strata substation.
That didn't leave me much choice but to stay out of swingers requiring close attention.
As it happened, this once they finished ahead of plan
Kneomedia has been on a tear for the last two and a half months, tripling in price from 2c to 6c.
The share price started to move following the announcement on 3 April in which the company reported that the Florida Department of Education has approved KneoWorld as a partner product federal funding for Florida's 67 Districts which house over 2,470 elementary and middle public schools.
The following week on 11 April the company announced that it raised $715,000 through the placement of 32.5 million shares at 2.2c per share. The company said that it intended to use the funds to advance sales and business development activities in the United States following the successful product distribution partnership in Florida.
Today KNM has pushed through 6c to be currently trading at 6.2c, giving it a market cap of around $42 million. With around $740,000 in expected capital outflows in the current quarter, unless sales increase substantially KNM could find itself in the position of having to raise capital again.
There will be a lot riding on the next set of financial results. Lots of risk here IMO.