In morning trade the GetSwift Ltd (ASX: GSW) share price has been amongst the biggest movers with a remarkable jump higher.
At one stage the logistics company's shares were as much as 122% higher at $4.36. They have since given back some of these early gains and are higher by 84% at $3.60.
What happened?
GetSwift's shares emerged from their trading halt with two major announcements.
The first is a multi-year deal with quick service restaurant giant Yum! Brands which is expected to result in more than 250,000,000 deliveries annually through the GetSwift platform.
Initial deployments will commence in the Middle East and Asia Pacific, with more than 20 countries slated to be rolled out in the first and second phase, followed by a broader deployment thereafter.
Yum! is a Fortune 500 corporation and operates the brands of Taco Bell, KFC, Pizza Hut, and WingStreet.
The second deal is with retail behemoth Amazon. Although very little information has been provided due to it being highly sensitive in nature, it is known to be a global agreement.
Should you invest?
The last couple of months have not been easy for shareholders, but pleasingly these deals have rewarded investors for being patient.
While I continue to believe that GetSwift is a great buy and hold investment, due to the enormous amount of growth already built into its share price, investors may want to consider holding out until revenue from these deals starts to be generated.
Investors should also remember this is a speculative business with lots of seeming potential, but very little in the way of actual revenues.
In the meantime, tech shares such as Altium Limited (ASX: ALU) and Aconex Ltd (ASX: ACX) could be worth a look.
