MENU

Yojee Ltd shares jump 11% on market update

The Yojee Ltd (ASX: YOJ) share price is on course to finish the week with a strong gain.

In late morning trade the technology company’s shares are up 11% to 29.5 cents.

What happened?

This morning Yojee announced significant growth and strong performance results from its Singapore last mile logistics network.

According to the release, last mile deliveries on Yojee’s Singapore network have grown 150% over the last month, to achieve an almost 700% increase over the last six months.

Pleasingly, despite the rapid increase in deliveries the company’s performance standards have been maintained to a market-leading standard.

The strong growth in deliveries was driven from both local and international sources, and was a mix of business-to-consumer e-commerce, business-to-business, and consumer-to-consumer deliveries.

Management believes this demonstrates the broad appeal of the Yojee platform.

Should you invest?

While my preference in the last mile logistics industry remains GetSwift Ltd (ASX: GSW), I do think that Yojee is worth keeping a close eye on in the future.

Both companies have made huge strides this year and look well-positioned to start generating meaningful revenues in 2018. Time will tell whether these revenues go on to justify their current market valuations.

If you like exciting tech shares like Yojee and GetSwift then don't miss out on these shares in 2018.

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We're living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That's why at The Motley Fool we've been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

We've found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor James Mickleboro owns shares of GetSwift Ltd. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.