Why the Nearmap (ASX:NEA) share price is up 20% in a month
Investors appear buoyant on the company’s prospects, boosting the Nearmap share price by 20% this month.
Aaron Teboneras has been a Motley Fool contributor since early August 2020. After graduating from RMIT University with a Business degree, Aaron spent most of his years either travelling or working in various industries. Aaron’s most notable appointments include National Australia Bank, and Computershare where he discovered his passion for the Australian sharemarket. Outside of researching and writing for Motley Fool, Aaron enjoys trekking on adventures across the world and learning new life skills.
Why the Nearmap (ASX:NEA) share price has risen 10% this morning
Why the Nearmap (ASX:NEA) share price has risen 10% this morning
The Nearmap share price has put itself on the map with the release of the company’s preliminary results.
Mitchell Lawler is a site writer at The Motley Fool Australia. He holds a Bachelor of Engineering and previously worked in the consulting space while his interest in equities grew. Mitchell is now completing his studies in finance and wealth management and hopes to help others in their investing journey.
Latest posts by Mitchell Lawler (see all)
|
The
Nearmap Ltd(ASX: NEA) share price is up 10% in early morning trade. It coincides with the aerial mapping technology company releasing its FY21 preliminary full-year results.
The Nearmap share price fell by 23% after investors responded to the legal case relating to patent infringement.
Nearmap said that it was made aware on the morning of 5 May 2021 of a complaint filed against its subsidiary, Nearmap US Inc, in the United States District Court (District of Utah, Northern Division).
The complaint alleges patent infringement relating to the plaintiffs’ roof-estimation technology. The allegations do not affect Nearmap’s core proprietary technology and do not affect the surveying of imagery or the delivery of premium content. The business remains unaffected, according to management.
This complaint has been filed on behalf of Eagle View Technologies Inc and Pictometry International Corp. The plaintiffs are seeking unspecified monetary damages and the prevention of alleged further infringement in relation to the plaintiffs’ roof-estimation technology.