Why the Urbanise (ASX:UBN) share price reached as high as 17% today

The Urbanise.Com Ltd (ASX: UBN) share price soared in the first 30 minutes of opening trade, reaching 17% higher. Its meteoric rise came after the company announced a major new customer win.

During the day, however, the company’s shares have backtracked after some profit-taking by investors. At the close of trade, the cloud-based software solutions company’s shares swapped hands for 8.6 cents, up 6.17%.

A quick take on Urbanise

Established in 2001, Urbanise leverages cloud technology and the Internet of Things (IoT) to manage infrastructure, buildings, housing estates and local government structures.

It enables building operators to…