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Inecom renames itself as Cloud Factory Solutions, highlights double-digit growth Thursday, 01 July 2021 09:53 Inecom renames itself as Cloud Factory Solutions, highlights double-digit growth
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Inecom says the double-digit growth reflects the demand for its cloud ERP services over the COVID-19 period.
Cloud Factory provides hosted cloud solutions across major ERP platforms including SAP Business One, MYOB Advanced and Microsoft Dynamics 365 with a focus on Azure and Power Apps. Its clients include ASX-listed e-commerce brands such as Kogan (KGN) and Temple & Webster (TPW) sporting bodies, charities, manufacturing, and distribution sector.
Cloud Factory director Simon Bishop says that the name change represents the company’s maturity and a 10-year growth path in cloud deployment. According to Bishop, Cloud Factory supports more than three thousand users with a backdrop of ever-increasing client demand to deliver Digital Acceleration for Cloud First policies.
Summary:
Week Ending June 24, 2021.
It was a wild old week last week for the ASX200, initially plummeting from record highs on confusing Fed signals, immediately bouncing back, and then running into the highly contagious Bondi strain.
Not so wild were movements in short positions last week.
Interestingly, we did see a sizable drop in Kogan ((KGN)) shorts, to 10.6% from 11.8%, and smaller drops for the likes of Temple & Webster ((TPW)) and JB Hi-Fi ((JBH)). All three we can class as “covid winners”, and all three have shot up this week on the Sydney and other lockdowns.
Which would suggests short-covering, except that our week in question ended June 24, and take-off did not occur until June 25. Some relieved shorters there perhaps.
We Shall Overcome
Unsurprisingly the ASX200 opened down -35 points yesterday on the Sydney lockdown, snap lockdowns elsewhere, border closures, popped bubbles etc. It then chopped around for a while waiting for the daily case-count update.
Given the trend to date, no doubt the market was anticipating another exponential increase on the weekend numbers but at 18 – a lower figure – there appeared a glimmer of hope. Thus the index ultimately closed flat.
It was not simply a case of as-you-were. Sector and stock moves suggested we’re set to party like it’s 2020 all over again.
Winning individually were your previous stay-at-home stocks such as Temple & Webster ((TPW)), Kogan ((KGN)) and Redbubble ((RBL)), which rose 10.2%, 6.6% and 8.2% respectively. As to why you would want to replace all your furniture and homewares yet again is unclear.
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