Tech: After that crypto disaster, CCP is suddenly back in investors’ good books
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All is forgiven and forgotten at CCP Technologies (ASX:CT1), which has won back favour from investors by saying a low-temperature device has passed testing.
The stock surged 54 per cent to 2c afterwards.
The news came a day after it sold the tech to a casino in Boston, possibly owned by gambling giant Wynn although as yet unconfirmed by CCP. That news sent the shares up 60 per cent.
The company said a new device has been tested by Monash University to withstand temperatures down to -80 degrees Celsius. The end use is as part of software that can continuously monitor temperatures at extreme low temperatures, such as for biological samples.
Also in this field is BlueChiip (ASX:BCT), which has a three-year, $16m supply deal for semiconductor-based readers and chips with Labcon in the US.
CCP says it won’t reveal the value of the casino contract until it’s installed in July.
The company is looking to chalk up some wins after a steady run of losses, which included a pretty disastrous foray into crypto, key management changes and an effort to raise some more capital.
Family Zone (ASX:FZO), the company that turns the Internet into a beautiful walled garden for children, says it has convinced 100,000 people to pay for its service.
It hit 90,000 paying subscribers at the start of November and speculated at the time it would have 100,000 in the bag by the end of December. Instead, that figure came in by the end of April this year.
Based on the chart provided by Family Zone, most of the sales growth came from the wholesale sector to telecommunications companies and manufacturers, followed by sales to schools.
Investors were initially happy with the news, pushing the stock up 8 per cent to a high of 14c, before going back to ignoring it (it fell back to 13c). By 11.30am there had only been 16 trades in the stock worth $39,265.