Why the SportsHero (ASX:SHO) share price is on a winning streak today

The SportsHero Ltd (ASX: SHO) share price is on the up today after the company posted its results for the FY21 half-year.
The post Why the SportsHero (ASX:SHO) share price is on a winning streak today appeared first on The Motley Fool Australia. –

cheering sports fans looking at smart phone representing surging pointsbet share price

The SportsHero Ltd (ASX: SHO) share price is on the up today after the company posted its results for the FY21 half-year. Shares are trading 5.41% higher compared to yesterday’s close. At the time of writing, the SportsHero share price is sitting at 3.9 cents per share.

Let’s take a closer look at why its shares are rising today and what was released.

What’s impacting the SportsHero share price?

Despite posting losses for the six-month period ending 31 December 2020, the social competition platform’s shares are rising. Notably, the loss of US$775,000 is lower than the US$916,000 of the prior corresponding period (pcp).

While sales income was still minimal (only US$7,757 compared to nothing in the pcp), expenses were down on the pcp.

A stronger Australian dollar saved the company around US$50,000 and employee expenses were reduced by US$116,000 on the pcp. A US$104,000 saving in net loss of joint venture (accounted for using the equity method) from the pcp was counteracted by a US$160,000 increase in share-based payments compared to the pcp.

In further good news for investors, the earnings per share (EPS) loss dropped from 0.31 cents per share in the pcp to 0.21 cents per share.

No dividend was paid for the FY21 half-year.

Main takeaways from the report

  • OlahBola, an app covering international football for the Indonesian market was launched in July 2020.
  • Mint Capital Advisors injected $5 million into SportsHero in the form of a financing facility. SportsHero issued 5 million shares to Mint Capital in return.
  • OlahBola achieved 1.1 million new unique users by October 2020.
  • In November 2020, SportsHero signed a deal with MolaTV, (exclusive rights holders in Indonesia to English Premier League and German Bundesliga football) to stream its content on the OlahBola app. MolaTV pays SportsHero 10% of all MolaTV subscription revenue generated through the app.
  • Veritas Securities raised $1.3 million in working capital for the company in November 2020. In February 2021, the company raised a further $1.5 million from First Growth Funds Limited.

SportsHero share price snapshot

SportsHero’s shares are trading higher off the back of today’s announcement. It is also true the SportsHero share price has nearly doubled since this time last year. Back then, shares were selling at 2 cents each.

However, in August 2018 SportsHero shares were selling for as high as 22 cents each. In fact, the current SportsHero share price is 99.5% lower than its all-time high of $7.68. This level was last observed in April 2011.

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

Motley Fool contributor Marc Sidarous has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the SportsHero (ASX:SHO) share price is on a winning streak 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!