Business
Why the Nearmap (ASX:NEA) share price is surging 12% higher
The Nearmap Ltd (ASX: NEA) share price has returned from its trading halt and is surging higher this morning. This follows the release of its response to a short seller attack and its half year results.
At the time of writing, the aerial imagery technology and location data company’s shares are up 12% to $2.43.
How did Nearmap perform in the first half?
According to the release, contrary to what short sellers were saying, Nearmap revealed that a record performance in North America underpinned strong annual contract value (ACV) during the first half.
At the end of December, Nearmap’s total ACV stood at $112.2 million on a reported basis and $116.7 million on a constant currency basis. This represents a 16.1% and 21% increase,…
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