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…