The Motley Fool

Getswift Ltd shares are now suspended until tomorrow

Speculative technology company GetSwift Ltd (ASX: GSW), which has already been in a trading halt for two days, today requested a voluntary suspension of its shares to give management additional time to respond to the ASX’s queries. GetSwift went into trading halt following a Fairfax Media article over the weekend, which alleged that the company had failed to notify the market of the loss of material contracts.

GetSwift management stated that the contracts were not material. However, if they are, it could place GetSwift in an uncomfortable position as the company raised capital even though the market had not been notified of these contract losses. This could be what the ASX is querying GetSwift about, and may explain why the company entered a trading halt.

On Monday, GetSwift’s official Twitter account tweeted that it had submitted a response to the ASX at 7.45am:

source: Getswift Twitter account @getswift_

However, the subsequent two day trading halt and now suspension suggests that the ASX was not satisfied with the answers that GetSwift supplied, and requested additional information. Another possibility is that GetSwift is looking to delay its return to market until it can publish its latest quarterly, which is due out by the end of January. A strong quarterly report combined with a response to the ASX might allay some investor concerns and would allow the market to trade on the most informed basis possible.

GetSwift expects to release its announcement prior to the start of trade tomorrow, and we will have full coverage for you then.

Top 3 ASX Blue Chips To Buy In 2018

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 2018."

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 Sean O'Neill has no position in any of the 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!