https://unauthorised investment advice/news/the-pentanet-juggernaut-continues-to-roll-in-the-over-performing-asx-telco-sector/
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The Pentanet juggernaut continues to roll in the over-performing ASX telco sectorThe ASX telco segment has been running hot over the last 12 months. Since June 2020, the telecom services index (AXTJ) has risen by more than 20 per cent.
Bellwether stocks likeTelstra (ASX:TLS)for example. It’s risen by 15 per cent this year.
In the small caps, Pentanet (ASX:5GG)has continued its good form, rising by 1.75 per cent today after providing a business update.
The company has been the best IPO listing in 2021 so far, with the share price more than tripling from the 25c IPO price in January, to 87c today.
Pentanet reported today that its active customers have exceeded 12,000 in May, a 9.2 per cent growth from its latest Q3 result in March.
In the cloud gaming segment, Pentanet has now increased its registrations for the GeForce NOW service to 45,000 players.
With this significant number reached, the company will now shift its focus from pre-marketing to beta play and then national release.
Meanwhile, the company’s esports arm, Pentanet.GG (PGG), has continued to successfully build awareness of gaming and e-sports in the Australian ecosphere.
PGG made history as the first Australian e-sports team to progress past the group stages in an international League of Legends tournament, placing sixth in the world at the recent invitational tournament in Iceland.
League of Legends is one of the world’s most popular e-sports titles, with 61 million tournament hours watched globally for the 2021 invitational – 5.3 million hours of which featured PGG.
Pentanet’s market cap has now grown to more than $152m.
Despite its ticker code, the company is not involved in rolling out a 5G network in Australia. The business revolves around fixed work connections, with gaming being used to create awareness and attract customers to its network.
