Why the LiveHire share price is dropping today

The Livehire Ltd (ASX: LVH) share price is trading lower today after an ASX announcement.

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The LiveHire Ltd (ASX: LVH) share price is on a downward slide today after the company released an announcement to the ASX before market-open today. LVH shares opened at $0.375 this morning, but have since slumped 2.67% and are now swapping hands for $0.36.

LiveHire is an ASX company that (in its own words) is a "talent acquisition & engagement platform that revolutionises the candidate experience and enables businesses to thrive with talent on demand." Livehire was founded in 2011 in Melbourne and now has offices in Sydney and Perth.

What did LiveHire announce?

In its ASX market release, LiveHire announced it has signed a 'Referral partner Agreement' with US recruitment advisory firm Bayard – meaning Bayard will "introduce LiveHire's innovative talent management program to Bayard's clients."

Bayard is a New York-based recruitment firm founded back in 1923. It has a presence today across 17 countries and provides a range of services, including branding, media and digital solutions and metrics and analysis.

LiveHire hopes that this agreement will strengthen LiveHire's presence in the US market by "boosting the Company's brand recognition and accelerate sales growth… with the Company focused on supporting continued growth and geographical expansion."

As part of the agreement, Bayard is "eligible to receive a commission of the client's first year of hosting fees where it submits a lead that is approved by LiveHire that converts into a signed and paid client contract."

Although LiveHire "considers that this agreement is strategically material due to Bayard's brand, market share, and extensive reach and trusted advisory into LiveHire's ideal prospect customers globally… LiveHire is not able to determine the total revenues expected from this agreement at this point in time due to the indefinite term, contingent nature of client opportunities and commissions being decided on a case-by-case  basis. Accordingly, LiveHire does not have a reasonable basis to determine a material economic impact on the Company."

LiveHire shares are now trading at the low end of its $0.30–$0.71 52-week range.

Motley Fool contributor Sebastian Bowen 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.

More on Share Market News

A man with grahpics of robot arms, indicating a share price movement in ASX robotics and tech companies
Share Market News

Here's how the ASX 200 market sectors stacked up this week

Tech shares led the pack for a second week, clocking a near 10% gain over the fortnight.

Read more »

A beautiful ocean vista is shown with a woman whose back is to the camera holding her arms up in triumph as she stands at the top of a rock feeling thrilled that ASX 200 shares are reaching multi-year high prices today
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX had a very pleasant end to the trading week this Friday.

Read more »

A woman holds her hand out under a graphic hologram image of a human brain with brightly lit segments and section points.
Share Gainers

The Brainchip share price is up 213% this month. Is Nvidia to blame?

The small cap Aussie tech stock is going bananas in 2024.

Read more »

Three exuberant runners dash towards the camera. One raises her arms in triumph; another jumps in the air with arms raised. The third runner gives a satisfied smile.
Share Market News

Here's how these 3 ASX 200 shares just earned substantial broker upgrades

Top brokers have a bullish 2024 outlook for these three ASX 200 shares.

Read more »

Digital rocket on a laptop.
Broker Notes

Is the Nvidia share price on course to reach US$1,400?

You betcha, says one analyst.

Read more »

ASX shares Business man marking buy on board and underlining it
Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A worried man holds his head and look at his computer.
Share Fallers

Why Accent, Austal, Newmont, and Sandfire shares are plunging today

These ASX shares are ending the week in the red. But why?

Read more »

Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.
Share Gainers

Why Aussie Broadband, Australian Ethical, Jumbo, and Vulcan are racing higher

These ASX shares are ending the week on a high. But why?

Read more »