Why the Manalto Share Price Rose Today

share market going up and down

What’s Happening to Manalto’s Share Price?

Shares in Manalto Limited [ASX: MTL] listed on the Australian Stock Exchange this week. The offer price of the shares was 20 cents. Since then, the stock price has risen over 35% to currently trade at 29 cents.

Why Did This Happen to Manalto Shares?

It’s always tricky to gauge how a share will perform after it begins to trade publicly. Investors obviously see a lot of potential for growth. Manalto sells a cloud-based software, that, according to the Australian Financial Review, ‘helps organise and manage social media accounts for businesses that have several accounts in different locations’. However, it’s possible that traders have jumped on the rising share price early while the trend is up. It’s possible sSome of the heat might come out of the price. Have to wait and see on this one.

What Now for Manalto?

The company will need to deliver on the projections and growth as forecast in its prospectus to maintain this early momentum. One to watch for now.

Callum Newman
Editor, Markets and Money

Join Markets and Money on Google+

Callum Newman

Callum Newman

Originally graduating with a degree in Communications, Callum decided financial markets were far more fascinating than anything Marshall McLuhan (the ‘medium is the message’) ever came up with.

Today Callum spends his day reading and researching why currencies, commodities and stocks move like they do. So far he’s discovered it’s often in a way you least expect.

Leave a Reply

Be the First to Comment!

Notify of
Letters will be edited for clarity, punctuation, spelling and length. Abusive or off-topic comments will not be posted. We will not post all comments.
If you would prefer to email the editor, you can do so by sending an email to letters@marketsandmoney.com.au