DataDot Technology shares are going nuts

Jack Miller of Australia during qualifying practice at the MotoGP Of Malaysia in Kuala Lumpur. Mirco Lazzari gp/Getty Images

Shares in DataDot, the Australian theft deterrent and asset identification technology company, jumped by more than half on better sales results.

The company released a business update showing revenue up 11.2% to $2.38 million for the four months to the end of October.

The shares were up more than 50% before falling back to $0.029, up 38%.

“Conversion of pipelines into revenue, particularly in the USA, is the key to additional growth. Opportunities for growth in the auto sector also exist, including the potential for expansion in Europe,” said CEO Temogen Hield.

DataDot uses thousands of tiny microdots to mark products, such as automotive parts, to deter theft and counterfeiting.

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