MIDAS SHARE TIPS UPDATE: Our recommendation Boku soars in price, as consumers buy music and games during lockdowns
It is almost exactly a year since the UK first went into lockdown – an extraordinary period that has seen digital businesses come into their own.
Boku exemplifies the breed. Its technology allows consumers to buy music, games, films and other goodies by adding the cost to their mobile phone bill or to special smartphone wallets that store cash digitally.
Customers include Spotify, Netflix, Sony and Apple as well as mobile phone firms, such as EE and Vodafone.
Lockdown boost: Midas recommended the shares as lockdown was starting, when the price was 59p
Midas recommended the shares as lockdown was starting, when the price was 59p. The stock has soared since then to £1.74.
Boku has won new contracts, acquired a big rival in America and gamers, music-lovers, film buffs and consumers more broadly have bought more and more online.
Overall, payments worth $6.9billion ($5billion) went through Boku's system in 2020 and monthly users rose 48 per cent to nearly 30 million people. The company's identity division fared less well.
The business helps organisations to identify customers through their phone numbers. It continued to lose money last year. However, the subsidiary is now winning new business and prospects seem bright for 2021.
Brokers are upbeat about Boku, forecasting strong growth this year and beyond.
Midas verdict: Boku shares have risen almost threefold over the past year so shareholders may choose to bank some profit before the end of this tax year. But they should not sell out completely. Boss Jon Prideaux is ambitious, sure-footed and, as a 1 per cent shareholder, he is motivated to succeed.
Traded on: AIM Ticker: BOKU Contact: boku.com or IFC on 020 3934 6630
Most watched Money videos
- BMW's Vision Neue Klasse X unveils its sports activity vehicle future
- Inside the new Ferrari V12 Cilindri
- How to invest for income and growth: SAINTS' James Dow
- MailOnline asks Lexie Limitless 5 quick fire EV road trip questions
- 'Now even better': Nissan Qashqai gets a facelift for 2024 version
- Tesla unveils new Model 3 Performance - it's the fastest ever!
- Skoda reveals Skoda Epiq as part of an all-electric car portfolio
- 2025 Aston Martin DBX707: More luxury but comes with a higher price
- Land Rover unveil newest all-electric Range Rover SUV
- Blue Whale fund manager on the best of the Magnificent 7
- Mini Cooper SE: The British icon gets an all-electric makeover
- Mini celebrates the release of brand new all-electric car Mini Aceman
- MIDAS SHARE TIPS UPDATE: Wind is turning in Octopus...
- A good week - not before time, but let's not get carried...
- CITY WHISPERS: Bill Ackman's cerulean eyes charm...
- Cost-of-living crunch wipes shine off Thomas Sabo jewellery
- 86-year-old Peter's woes with a faulty smart meter that...
- Virgin Money's biggest independent investor...
- TONY HETHERINGTON: Boss behind firms fined £340k for over...
- JOHCM UK EQUITY INCOME FUND: Rate cuts... and a spending...
- North Sea projects worth £21bn put at risk by Labour: Tax...
- British businesses awash with 'accidental' bosses who...
- Hollywood silly money? I'd only have stuffed it under the...
- MIDAS SHARE TIPS: Why it soon won't be hip to give the...
- Where is Labour's 'white heat' revolution to revive...
- Helium and hydrogen company set to join stock market in...
- Britain's nascent battery industry receives shot in the...
- Shipping broker Clarksons on list of shame after...
- Ikea pushes back opening of its Oxford Street store to...
- MARKET REPORT: S4 Capital shares soar as Sir Martin...