Recent NZAX listing Snakk Media claims jump in revenue

Handley on the day of the March 6 listing
Snakk Media NZAX performance since March 6 IPO (S&P Capital IQ; click to zoom)

Mobile advertising company Snakk Media [NZAX: SNK], says it had record  revenues from October to December 2012, with a 210% year-on-year from $686,000 to $1.439 million. The figure is not audited, the company says. 

No profit or loss figure was given for the quarter (for the year to March 2012, company made a net loss of $610,000 on revenue of $1.99 million).

Snakk also confirmed it will announce the opening date, terms and issue price of its Share Purchase Plan (SPP) in April, subject to NZX approval. The offer will be available exclusively and for a limited time to investors holding Snakk shares prior to the morning the offer opens.

Snakk, cofounded by chairman Derek Handley, listed on the NZX Alternative exchange (NZAX) on March 6.

Its shares were issued at 6.5 cents (valuing the company at just under $25 million) and rocketed as high as 29 cents (for a market cap just under $60 million).

Trading was thin and volatile, however, and the shares quickly sank back to around the 16 cents mark (where they closed yesterday, see chart right.

The company operates by aggregating publishers' ad space on mobile devices and matching it to advertisers' demand.


4 · Got a question about this story? Leave it in Comments & Questions below.


This article is tagged with the following keywords. Find out more about MyNBR Tags

Post Comment

4 Comments & Questions

Commenter icon key: Subscriber Verified

Doesn't this all just show that NZ investors are searching for more "interesting, fun, take a punt" stocks to invest in, as opposed to ones that have real revenues, profits and proven longevity? If we had more of them in the market, maybe this insane valuation and volatility would subside...?

Reply
Share
  • 0
  • 0

Ticker SNK:NZX now!!!

Reply
Share
  • 0
  • 0

I guess some folk see this company as a great capital growth opportunity (with some risk, I would think) whereas a lot of the tried and true companies are just plodding along with share prices reflecting the lack of investor interest. Examples are Pan Pacific Petrol, Cue Energy, Kalcardie/Stains, Rubicon, etc.

Reply
Share
  • 0
  • 0

Possibly this is also reflecting a new generation of young investors who are looking for riskier investments due to their age, and not so set in their ways as the prior generation, who were all into risky property.

Reply
Share
  • 0
  • 0

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7113 0.0000 0.00%
AUD 0.9508 0.0000 0.00%
EUR 0.6400 0.0000 0.00%
GBP 0.5202 0.0000 0.00%
HKD 5.5327 0.0000 0.00%
JPY 72.5690 0.0000 0.00%

Commods

Commodity Price Change Time
Gold Index 1322.4 60.100 2016-06-24T00:
Oil Brent 49.0 0.120 2016-06-24T00:
Oil Nymex 47.6 -2.520 2016-06-24T00:
Silver Index 17.8 0.440 2016-06-24T00:

Indices

Symbol Open High Last %
NZX 50 6821.4 6853.1 6821.4 -2.25%
NASDAQ 4715.8 4798.2 4910.0 -4.12%
DAX 9237.6 9720.1 10257.0 -6.82%
DJI 17946.6 17946.6 18011.1 -3.39%
FTSE 6338.1 6338.6 6338.1 -3.15%
HKSE 20483.5 21034.2 20868.3 -2.92%
NI225 16333.9 16389.2 16238.4 -7.92%
ASX 5280.7 5325.4 5280.7 -3.17%