Business
Dubber (ASX:DUB) share price shoots up 14%, nears 52-week high
The Dubber Corp Ltd (ASX: DUB) share price is rocketing up 14.14% today to $1.66 as it closes in on its 52-week high of $1.675. The communication company’s share price has been on an upward trajectory in November, gaining more than 35% this month.
Why is the Dubber share price on the rise?
Dubber’s cloud-based software helps companies to transition away from traditional communications infrastructure to remote working arrangements. The business has benefited from the COVID-19 pandemic, with the company posting record growth customer acquisition numbers during FY20. This has resulted in its annualised recurring revenues jumping by 95% year-on-year in FY20 to $16.1 million.
The company has been able to expand rapidly through a…
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