AtmanCo (ATW: TSXV) is the latest TSX Venture tech stock to break out. The company comes from a minority sector: technology; rather, the social networking domain. AtmanCo topped all other issuers in May’s Stock Challenge Thursday. The company’s shares exploded 41.18% on huge volume of 2,897,925 shares traded. The market action was a result of better than expected quarterly revenue.
AtmanCo owns several web platforms including Atman, Québec Rencontres, VoxTel and Bloomed. Unlike the vast majority of TSX Venture issuers, AtmanCo now boasts significant revenue. According to Atman, its platforms enable companies to optimize their human capital. For example, Quebec Rencontres is a web and mobile social network application catered to building serious and sustainable relationships.
Revenue Growth of $2.5 Million Drives AtmanCo Share Price
On May 25th, AtmanCo announced revenue growth of $2.5 million for Q1 2017.
“Highlights:
- For its first quarter of 2017, the Company announced revenues of $2,727k compared to revenues of $246k for its first quarter of 2016, a year-over-year increase of $2,481k.
- For its first quarter of 2017, Company’s revenues increased by $133k or 5% while compared to previous quarter ending December 31, 2016.
- As of March 31, 2017, the Company’s order book totalled $8.9m compared to $0.8m on March 31, 2016, a year-over-year increase of $8.1m.”
Click here to read the entire press release.
President and CEO of AtmanCo, Michel Guay, commented,
“In order to achieve our objectives, we have taken the steps to improve our presence in the international market and hired experts in the telecom industry. Moreover, we are continuing our pursuit of closing strategic acquisitions in our different business markets.”
Click here to read the entire press release.
4 Days Left in May Stock Challenge
Long-time Pinnacle member ‘uniword’ selected AtmanCo for May’s Stock Challenge. uniword’s return soared by 20.59% Thursday; the move pushed him into 1st place with a 59.39% return on the month. The TSX Venture fell below 800 Thursday on normal volume of just over 75 million.
Two past Stock Challenge Champs, ‘shypitka’ and ‘coachbob’ have moved into the Top 10. With only four trading days left in May, the silver bullion is still up for grabs.
