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Why the Atomos (ASX:AMS) share price is up 23% in a month

It’s been a big month for Atomos — let’s see what it’s been up to
The post Why the Atomos (ASX:AMS) share price is up 23% in a month appeared first on The Motley Fool Australia. –

The Atomos Ltd (ASX: AMS) share price has been flying lately, gaining 23% in the last month.

At close of trade today, shares in the content creation technology company were swapping hands for $1.23. This time last month, they were going for just $1.00.

The gains to the Atomos share price come despite the company releasing just a single piece of news to the market in the last month. However, its CEO has been in the news today for all the wrong reasons.

Let’s take a look at what Atomos has been up to lately.

The latest news on Atomos

Sydney escapee

Atomos is in the news today after its CEO Jeromy Young was allegedly caught trying to break COVID-19 border restrictions aboard a super yacht.

Maritime Safety Queensland noted a 32-metre super yacht had landed on the Gold Coast after travelling from Sydney. 7 News reported today that Young was among the 4 people on board the super yacht.

After arriving on the Gold Coast, the group attended a rugby game in Brisbane on Wednesday before being fined for providing false and misleading information to get across the Queensland border.

They have all since tested negative to COVID-19.

The last we heard from Atomos

Aside from its CEO’s escapades, the only time we’ve heard from Atomos this month was on 30 June when the company released a trading update.

The update pushed the Atomos share price up to close 11.46% higher than its previous session.

The trading update announced record sales for the 2021 financial year. The company has brought in more than $77 million – 73% more than the previous financial year.

It also recorded more than $44.2 million worth of sales in the second half of the 2021 financial year. That’s 275% more than the prior corresponding period.

Atomos share price snapshot

The Atomos share price has been performing well lately. It’s gained 26% year to date. It is also 186% higher than it was this time last year.

The company has a market capitalisation of around $269 million, with approximately 218 million shares outstanding.

The post Why the Atomos (ASX:AMS) share price is up 23% in a month appeared first on The Motley Fool Australia.

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More reading

Here’s why the Atomos (ASX:AMS) share price is surging 9%
Carsales (ASX:CAR) and 4 other ASX tech shares still worth holding: analyst

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Atomos Ltd. The Motley Fool Australia has recommended Atomos Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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