The Yojee Ltd (ASX: YOJ) share price hit a 52-week low of 5.8 cents this morning as the software-as-a-service logistics business does not appear to be impressing investors with its lack of revenues anymore.
For the quarter ending September 30 2018 Yojee reported just $118,000 in revenue and an operating cash loss of $2 million, with just $7.6 million cash on hand after it completed an $8 million capital raising at 10 cents per share in July 2018.
Yojee claims to use blockchain technology and artificial intelligence to boost its software-as-a-service last mile delivery logistics product, but investors clearly aren’t expecting much for the last quarter of 2018 given the share price just hit a 52-week low.
This time last year the stock sold for 35 cents, but the stock has shed 83% of its value since then.
Another “software-as-service delivery logistics” business struggling to deliver on its boasts that previously included partnerships with Amazon and the Commonwealth Bank of Australia (ASX: CBA) is GetSwift Ltd (ASX: GSW).
Its share price has fallen from $3.32 this time last year to 38 cents today and neither Yojee or GetSwift are likely to impress value investors.
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Motley Fool contributor Tom Richardson owns shares in Amazon. 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 Scott Phillips.
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