The Advanced Human Imaging Ltd (ASX: AHI) share price is one of the highest-flying on the ASX on Thursday.
At the time of writing, shares in the company are in incredible shape with a gain of 46.4% to 93 cents apiece. Investors would be hard-pressed to find a better-performing investment on the ASX today.
Oddly, the fitness tracking technology company is making this move without any announcements being released. However, the Advanced Human Imaging share price experienced a similar 44% pop in its US-listed shares overnight.
Let’s take a closer look at what’s been happening.
US market sets pace for Advanced Human Imaging share price
Often Australian shares that have a sibling in the United States via another listing move in sync with each other. A good example of this has been Afterpay Ltd (ASX: APT) and Square Inc (NYSE: SQ) since the two are now connected through a proposed acquisition. In this situation, it has worked in favour of the Advanced Human Imaging share price.
The company’s US-listed counterpart enjoyed a 44% surge in value overnight. Although, it’s hard to say what caused the considerable rise. The only information released prior to the surge was shared with Aussie investors yesterday morning. This involved the ASX-listed AHI concluding definitive agreements with digital health provider Cubert Inc.
In short, the agreement will see AHI’s technology integrated into Cubert’s FitTrack MyHealth app. This preventative health screening app has a global audience of more than 800,000 active users. Notably, the app is supported and used by a number of celebrities including Khloe Kardashian.
Commenting on the news, Advanced Human Imaging CEO and co-founder Vlado Bosanac said:
Marius and his team at FitTrack will target a February 2022 launch of the combined application, whilst in most cases this would be an aggressive target when looking at the available time, Cubert has an 80-strong development team that will focus on this specific deliverable.
The US-listed American Depositary Shares (ADS) in Advanced Human Imaging are still down from their initial public offering (IPO). Initially, the ADS were issued at US$5.52, while the current price for AHI’s US-listed shares is US$4.48.
Meanwhile, the Advanced Human Imaging share price on the ASX is down around 23% this year to date.