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ZoomAway shares jump after loss cuts in Q3 results

Wednesday, November 30, 2016 12:49
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ZoomAway Travel Inc. (CVE:ZMA) shares jumped by 25% on Wednesday after the company announced a sharp compression in losses with its third quarter earnings.

In the three months ended Sept 30 the company’s comprehensive loss was C$88,316, compared with C$143,309 in the same period in 2015.

The company, which recently changed its name from Multivision Communications, also reported a nine-month comprehensive loss too Sept 30 which shrank to 310,437 from C$451,309 in the same period of 2015.

On October 3, 2016, the company completed a transaction with ZoomAway. Multivision Communications Corp. subsequently underwent a name change to ZoomAway Travel Inc. and is now listed under the symbol ZMA on the Toronto Venture Stock Exchange.

ZoomAway shares were up 25.6% to C$0.245 on Wednesday.

Story by ProactiveInvestors


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