Australia's Stakk rises to near 4-month high on $9 million Candescent contract
02/10/2026 01:49
BUZZ-Australia's Stakk rises to near 4-month high on $9 million Candescent contract ** Shares of Stakk Ltd SKK.AX gain as much as 18% to A$0.033, their highest levels since June 5
** The digital trust technology firm secures contract worth A$12.95 million ($8.97 million) to offer AI-driven cheque and document intelligence software to Candescent, a US-based finance infra provider
** Contract spans 5 years, with an annual revenue commitment of A$2.59 million
** About 98 million shares change hands, 2.6x the 30-day average volume
** Stock set to gain over 47% for the week and its best since the week ended June 5, if current trends hold
** Stock down 12.1% YTD, including the session's moves
($1 = 1.4440 Australian dollars)
(Reporting by Rudrannsh Mehra)
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