Next Investors logo grey

What’s Going on with the MYQ share price?


Published 09-FEB-2021 09:59 A.M.


3 minute read

In the last three trading sessions the MyFiziq (ASX: MYQ) share price has surged from around $1 to finish at $1.34 yesterday.

That was on big volumes... and with no news.

Since MYQ’s last big leg up in September last year, its share price has bounced around in a defined range. This is healthy for cap table consolidation and has been the right preparation for what we hope will be its next sustained share price re-rating.

We will watch with interest over the next couple of days to see if MYQ’s current momentum can carry it back above its September high.

We are long term holders in MYQ and have invested multiple times over the last 12 months with the most recent investment being made at the 86c mark.

MYQ has developed patented health tech that allows an individual to accurately track the dimensions of their body directly from a smartphone.

MYQ has been building its tech and signing deals along the way, and have recently started the process to list on the NASDAQ, where much of the health tech action is playing out...

Why we are invested in MYQ

  1. Health Tech is hot global thematic. ✅
  2. ESG credentials. ✅
  3. NASDAQ listing coming. ✅

We are invested in MyFiziq (ASX: MYQ) for its technology that monitors changes in your body shape, tracking muscle and fat changes over time via a live 3D body image...

...all by using your mobile phone, inside your favourite health and fitness app.

Recently MYQ has delivered the following:

  • Completed a $5M capital raise at $1.20 per share
  • Cash received from customers up 986% from last year
  • Signed a binding term sheet for US$3.58M annual revenue
  • Signed a US investment bank to assist a NASDAQ listing in 2021
  • Integrating skin scanning AI technology into MYQ’s technology platform is a major step forward for MYQ
  • Launched new website.

MYQ also has very strong ESG credentials, and we have seen in recent times that big funds are chasing ESG investments.

Health Tech: Hot Global Thematic

Adoption of telehealth and the development of health tech in the US continues to quickly ramp up.

As such, huge swathes of capital are rushing into the space, emboldened by the isolation caused by COVID-19 and the need for at home health and wellness solutions.

An array of healthcare stakeholders — from consumers to providers to drug developers — are joining forces with telehealth companies to increase access to ‘socially distant’ care.

Records were broken in 2020, with telehealth startups raising over US$6.6BN across 500+ deals.

Teladoc and Livongo merged on 5 August in an $18.5BN deal that was accelerated by the pandemic. The combined company has a market cap larger than Johnson & Johnson.

We believe that MYQ is in prime position to surf the health tech cash tsunami.

In the meantime, global funds are flying into Environmental, Social, Governance (ESG) companies.

Last week we saw over $120 million ESG dollars poured into Vulcan Energy (ASX: VUL) from ESG investors - it's now officially ‘fashionable’ for ultra high net worth investors to be investing in ESG companies... making returns while having a positive impact on the world.

What’s not to like about making money while having a positive impact?

Impact investing index funds have topped $250 billion, and the US market is now 20% of the total.

MYQ is one of the early ASX listed adopters of a newly released ESG reporting standard launched by the world economic forum - see MYQ’s ESG report here.

So What’s Next?

MYQ is an ESG company, in the hot health tech sector, with a timeline to list on the US NASDAQ - three factors that set them up for success.

As MYQ investors, the next few days are about watching the share price momentum and hoping we can achieve another sustained share price re-rate to a higher level.

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.