The Motley Fool

Attention: Here’s why the Jumbo Interactive share price is up 20x since 2016

The Jumbo Interactive Ltd (ASX: JIN) share price hit a record high of $20.87 this week and is now up more than 20x since trading for less than $1 per share just back in 2016. 

Jumbo has been a pioneer in the selling of online lottery tickets rather than over-the-counter at your local shop and the growing popularity of internet tickets is what has fuelled its rise. For example it’s easier to buy a ticket online and perhaps more importantly once purchased they cannot be lost in case you do hit the jackpot. 

Recently, the company has also innovated in letting players bUy tickets via iPhone Apps or Google Play for example, which has also contributed to rising ticket sales. It also operates the ozlotteries.com website in conjunction with Tabcorp Holdings Ltd (ASX: TAH).

For the financial year ending June 30 2019 it’s forecasting a net profit around $24.2 million on revenue of $60.8 million and total transaction value of $296.4 million. It also paid a fully franked 8 cents per share special dividend on May 8 in part due to fears at the time that a potential Labor government would eliminate some benefits available to eligible shareholders.

At $20.87 it trades at 49x annualised earnings per share of 42.8 cents.

One ASX Stock For An Estimated $US22 Billion Marijuana Market

A little-known ASX company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.

And make no mistake – it is coming. To the tune of an estimated $US22 billion.

Cannabis legalisation is sweeping over North America, and full legalisation arrived in Canada in October 2018.

Here's the best part: we think there's one ASX stock that's uniquely positioned to profit immensely from this explosive new industry... taking savvy investors along for what could be one heck of a ride.

AND, this is the first time The Motley Fool Australia has EVER put a BUY recommendation on a marijuana stock.

Simply click below to learn more on how you can profit from the coming cannabis boom.

Click here to find out more

 

Tom Richardson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Jumbo Interactive Limited. 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.

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!