The Motley Fool

The Collaborate Corporation Ltd share price continues to rocket higher

The Collaborate Corporation Ltd (ASX: CL8) share price has been amongst the biggest movers on the market today.

In morning trade the shares of the operator of peer-to-peer and online marketplaces have jumped 20% to 4.1 cents. Its shares have now doubled in value this year.

What happened?

This morning the company provided the market with key performance metrics for its peer-to-peer car rental business DriveMyCar.

Following on from record results in March and April, DriveMyCar has continued to break records for the company in the month of May.

Rental transaction value increased 98% year-on-year to $273,890. Furthermore, net rental days realised increased 106% year-on-year to 7,698 days. Incidentally, both were a 6% month-on-month increase.

Management has put this continued momentum in demand across private, rideshare, and corporate rentals down to the improving quality of the fleet and higher utilisation.

The Subaru Impreza fleet in particular was a highlight, reporting almost 100% utilisation during May.

Top 3 ASX Blue Chips To Buy In 2017

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2017."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!