Tio Networks (TNC.V) on the Canadian Ventures Exchange TSX-V is the top performer in the last couple of months.
In July of this year, the stock price broke out after a consolidation period of a year around the $1 level. Since then, the stock is on the rise, in a clear trend channel. More importantly, the stock keeps on climbing on increasing volume, as seen on the chart. Very strong performance!
Two weeks ago, TIO Networks came with its Q1 FY16 results. The key take-away of the results is the explosion in profits, as highlighed in green on the table below. These results are undoubtedly attracting larger players in the investment community, which would explain the buying pressure.
Our point of view is that TIO Networks has a great outlook. One of the reasons is that the industry in which they are operating is one of the super growth sectors. Research underpins our view. A recent survey by Efma-Infosys shows that starting companies in the payments sector will mostly impact the banking industry. Talking about great growth prospects!
TIO Networks is a BUY on any pullback.