Applabs Technologies (ASX:ALA) has surged to $0.30 from $0.17 on high volume in the past few days, following a flat ASX debut on 16 December 2013.
The mobile app developer and financier was acquired by the former AACL Holdings (ASX:AAY) and re-listed as Applabs following a share consolidation and heavily oversubscribed $3 million capital raising at $0.20.
In response to yesterday’s, ASX price and volume query, Applabs noted that its soon to be released digital real estate portal “Home Open” may be increasing interest in the stock.
Positive recent announcements by competing digital real estate service providers may also be contributing to the increased demand, along with bullish market sentiment towards the technology sector at present.
Applabs last traded at $0.28 and is capitalised at around $5 million.
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