Record quarterly revenue and net income propelled a Canadian tech stock Tuesday. Here’s some small stocks making big moves on Tuesday, July 23, 2019 (as of 4 pm EST):
Gatekeeper Systems Inc. (TSXV:GSI), a Canadian tech stock and provider of video surveillance systems, jumped 39% to $0.125 on Tuesday after announcing a 70% increase in its third-quarter revenue to $4.3 million, while swinging to a profit of $616,572 for the quarter from a net loss of $126,209 during the same period last year.
As well, shares of Golden Arrow Resources Corporation (TSXV:GRG) slid 24% to $0.21 as the junior explorer said it has agreed to sell its 25% interest in Puna Operations Inc. to its joint venture partner SSR Mining Inc. for $44.4 million in cash and common shares of SSR Mining.
Martello Technologies Group Inc. (TSXV:MTLO), meanwhile, reported that it has teamed with Paessler AG, a network monitoring specialist with more than 200,000 installations of PRTG, to offer a solution that addresses the growing demand from large enterprises and managed service providers to simplify IT service assurance. Martello Technologies stock popped 16% to $0.50 following the announcement.
Finally, Network Media Group Inc. (TSXV:NTE) shares rose 13% to $0.175 after the boutique film and television production company announced record second-quarter financial results, which included revenue of $4.64 million and net income of $1.70 million, up 830% from the same period last year.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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Gatekeeper Systems Inc. (TSXV:GSI), a Canadian tech stock and provider of video surveillance systems, jumped 39% to $0.125 on Tuesday after announcing a 70% increase in its third-quarter revenue to $4.3 million, while swinging to a profit of $616,572 for the quarter from a net loss of $126,209 during the same period last year.
