Business
Here’s why the K2Fly (ASX:K2F) share price is pushing higher
The K2Fly Ltd (ASX: K2F) share price pushed higher today after the company announced its newly-acquired Sateva business is exceeding expectations.
The K2Fly share price reached an intraday high of 34 cents in mid-afternoon trade, before retreating slightly to close at 30 cents, up 3.39.
What’s moving the K2Fly share price?
In today’s release, K2Fly advised that it has received more than $850,000 in new purchase orders from its Sateva business. In comparison, when Sateva was a standalone company, it achieved revenue of $1.4 million for the entire 2020 financial year.
K2fly, an asset management consulting service, formally acquired Sateva in November last year through a share sale agreement.
The company attributed its sound sales…
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