Business
Why the BikeExchange (ASX:BEX) share price is up 7%
The Bikeexchange Ltd Fully Paid Ord. Shrs (ASX: BEX) share price stormed higher in late trade today as the company released its half-yearly report.
The BikeExchange share price closed 6.67% higher today at 24 cents.
What did BikeExchange report?
BikeExchange, which only listed on the ASX earlier this month, reported revenue of $2.005 million for H1 Fy21.
The company reported a loss of $79,100 for the half-year ending 31 December 2020, a drop from the $165,522 profit achieved for the same period in 2019. The company attributed the loss largely to initial public offering (IPO) costs.
BikeExchange advised that operations progressed well during the period as the company raised $20 million in new capital.
Furthermore, trading in the…
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