The Marley Spoon AG (ASX: MMM) share price has climbed 26% or 10 cents to 47.5 cents today despite the food delivery start-up releasing no specific news to the market.
This is an unusually large share price move on not very large relative volume that suggests it could be the result of retail investors taking a favourable view on the stock for any number of different reasons.
The last time the Germany-based company released any material news to the market was on October 30 2018 when it revealed revenue grew 15% quarter on quarter to EUR 23 million, with a forecast for operating profitability in the next 12-24 months.
It is forecasting total revenue of EUR93 million for the financial year ending 2018 thanks in part to strong growth in the US, while Australians may also now be familiar with the business given its push into the market.
The company’s cash balance as at 30 September 2018 was EUR17.7 million.
Marley Spoon is unusual as a German start-up that choose to list in Australia and as such would warrant plenty of research before small-cap investors came to a conclusion on its prospects.
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Motley Fool contributor Tom Richardson 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 Scott Phillips.