The Serko Ltd (ASX: SKO) share price was trading 37.84% higher today.
Over the past month, shares of Serko are up ~11% and the S&P/ASX 200 (INDEXASX: XJO) has risen 1% in the same time.
What Does Serko Do?
Serko is a New Zealand software company founded in 2004. Serko listed on the New Zealand stock exchange in 2014 and on the ASX in 2018.
Serko’s travel management software is provided to blue-chip Travel Management Companies (TMC) which provide Serko’s software to their corporate clients. The clients will book their own corporate/business travel via Serko-developed software applications.
Serko also offers a growing expense management technology platform which is also sold through TMCs to help company employees keep on top of their financial reporting and record-keeping.
What’s Happened?
This week investors witnesed Serko shares aggressively sold down for no apparent reason before the ASX stopped/paused trading and asked the company ‘what’s going on?’.
Serko responded by announcing a capital raising, half-year financial results and a strategic deal with global travel booking giant Bookings Holdings Inc (NASDAQ: BKNG). Two directors and some employees also sold some shares.
You can read more of our analysis on Serko’s latest deal, results and updates by reading this article: Serko Going Global With Booking Holdings
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Disclosure: At the time of publishing, the author does not have a financial interest in any of the companies mentioned.
