The Updater Inc (ASX: UPD) share price stormed to an all-time high of 96 cents this morning following a positive announcement.
At the time of writing it has given back some of its early gains, but sits comfortably higher by 7% to 91 cents in afternoon trade.
What happened?
Updater is a technology company that aims to build powerful tools to help people move in the United States.
It recently embarked on a pilot program to prove the value of Updater's platform for full-service moving companies and improve the experience of its users.
According to data released today, the pilot program has proven to be a big success.
As a result, management is confident that Updater is uniquely positioned to reinvent the process of booking and scheduling a full-service moving company.
Which is potentially great news for the company as recent research indicates that US$9 billion is spent each year on local and interstate moving services in the United States.
