Why the Prophecy share price is rocketing

Prophecy (ASX: PRO) announces a partnership with Amazon Connect Technology

a woman

The Prophecy International Holdings Limited (ASX: PRO) share price has rocketed 19% to 52.5 cents today after the cyber security and software business had some exciting news for investors. 

It revealed that one of its software products named eMite has been certified as an 'Amazon Connect Technology Partner'. This means Amazon Connect's partners could use the eMite platform and these kind of partnerships add credibility and widen its potential network. 

eMite's software-as-a-service online platform currently runs off Amazon Web Services so the partnership is a natural extension for the businesses. 

Prophecy estimates it has a sales pipeline in excess of an annualised $4 million since launching the offering in June 2019.

While the stock is higher today it's actually down around 50% over the past three years as the company developed a habit of missing ambitious sales forecasts. As such investors might want to do some further research into this business. 

Other junior software players worth a look include Serko Ltd (ASX: SKO) or micro-cap Alcidion Ltd (ASX: ALC).

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Tom Richardson owns shares of Amazon.

You can find Tom on Twitter @tommyr345

The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon. The Motley Fool Australia has recommended Amazon. 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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