Insights

This could be boosting the Kogan (ASX:KGN) share price today

The Kogan.com Ltd (ASX: KGN) share price is rocketing today, up 4%. Here’s the reason Kogan shares could be pushing higher
The post This could be boosting the Kogan (ASX:KGN) share price today appeared first on The Motley Fool Australia. –

asx share price rising represented by surprised investor with open mouth

The Kogan.com Ltd (ASX: KGN) is having a top day today. Although the S&P/ASX 200 Index (ASX: XJO) is up 0.5% today, Kogan shares are doing one better with a 3.83% gain. That puts the Kogan share price at $13.55, its highest level in over a month. 

Kogan shares have been enduring something of a fall from grace over the past 6 months or so. This company last peaked back in October at an all-time high of $25.57. But it has been downhill ever since then. Between 20 October and 31 March, Kogan lost more than 52% of its value. Even on today’s pricing, the shares are still down more than 46% from those highs.

So what’s going so right for Kogan today?

A new partnership for Kogan shares

Well, one potential catalyst is a new partnership Kogan has entered into. According to a report from PRWeb, Codisto, a private sales channel integration company, has just inked an agreement with Kogan for use of its Channel Cloud Plus enterprise solution. Codisto is a software company that specialises in sales channel integration software for e-commerce platforms in particular. It is already used by other e-commerce platforms like Shopify Inc (NYSE: SHOP), Amazon.com Inc (NASDAQ: AMZN) and Walmart Inc (NYSE: WMT). Channel Cloud Plus aims to simplify the process for sellers to list and manage products on online channels. 

Reportedly, Kogan.com’s online marketplaces will be integrating with Costido’s product. This, the two companies hope, will result in new channel of sellers being opened up for Kogan. Here’s some of what Kogan’s Lazar Monin, director of marketplace, had to say on the deal:

At Kogan, we’re dedicated to providing our sellers with the tools they need to deliver exceptional service from sale to delivery… Partnering with Codisto and their Channel Cloud Plus solution makes it easier for sellers to launch and grow their sales with Kogan by taking the time and complexity out of multichannel management. It’s a win for sellers and a win for our customers which means it’s a win for Kogan.

It’s not immediately clear that this announcement is what is driving up the Kogan share price today. It was made back on Monday after all. But Kogan shares have indeed been on the rise since Monday. In fact, Kogan shares are now up more than 7% over the past week or so. So clearly investors think Kogan is doing something right. Or perhaps the market has woken up and decided that the $12 a share that Kogan hit back on 3 March was just too low. Either way, today has been a great day for Kogan shareholders.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon and Shopify and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd. The Motley Fool Australia has recommended Amazon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post This could be boosting the Kogan (ASX:KGN) share price today appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!