MARKET REPORT: blinkx and you won't miss out
Dealers blinked in amazement at their trading screens as shares of blinkx, the world’s largest and most advanced video search engine, soared a further 12.25p, or 23 per cent, to 64.5p.
Persistent buying amid confident industry talk of a possible year-end level north of £1 swelled turnover to 14million-plus, or almost 5 per cent of the equity.
Buyers filled their boots yet again following news that Korea’s Samsung Electronics has selected blinkx for participation in applications for Samsung phones.
Under the terms of the agreement, blinkx has developed a video ‘app’ for the Android platform, which will be promoted on the handset giant’s new Galaxy S phone. The blinkx Beat app is a never-ending play list of the most popular videos.
It also allows users to search across the company’s entire index for mobile-compatible videos. The agreement was described as ‘transformational’ and word is it will be followed soon by a similar deal with Apple’s i-Phone.
The stock has now risen almost 340 per cent since May’s full-year results when the market heard blinkx had made a profit in the second-half of the year and that annual revenues had jumped by more than 140 per cent to £33.7million.
blinkx is on the way to becoming one of the London stock market’s champion 2010 performers. Google could yet decide to buy the thriving company. It would be a natural fit.