Business
Here’s why the MyDeal (ASX:MYD) share price surged 7% higher today
The Mydeal.ComAu Pty Ltd (ASX: MYD) share price has been a positive performer on Wednesday.
In morning trade the ecommerce company’s shares were up almost 7% to $1.45.
Why is the MyDeal share price charging higher?
Investors have been buying MyDeal shares today following the release of an update on its performance during the second quarter of FY 2021.
According to the release, the company had a strong finish to the year, with second quarter gross sales increasing 165% on the prior corresponding period to $70.1 million.
This led to MyDeal’s first half gross sales increasing 217% over the same period last year to $126.7 million.
At the end of the period, the company had a strong balance sheet with cash on hand of $48.1…
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