Shoply Limited's (ASX: SHP) shares hit an intra-day high of $0.027 on Friday, which is a 58.8% jump since the closing price on Monday 6th January 2014.
The company received an ASX 'speeding ticket' in the form of a Price Query, with the company responding that it was not aware of any information that has not been released which could explain the recent trading in it securities.
Shoply is an online shopping and advertising company, with the company also acknowledging back to the ASX improved Australian retail spending over the Christmas period providing evidence of improving consumer sectors.
Therefore it is looking to tap the rapidly expanding global online advertising market, with digital ad spend projected to reach $163 billion in 2016.
ASX listed and globally listed companies looking to tap into this rapidly expanding and potentially profitable sector have been market outperformers recently.
Shoply generated its maiden profit in FY13 2013 of $0.05 million.
The company has two operating divisions, with AdEffective working with a network of advertisers and publishers. Shoply currently owns three online shopping destinations.
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