One of the biggest movers on the market today has been the Syntonic Ltd (ASX: SYT) share price.
In morning trade the mobile platform and services company's shares have rocketed higher by 27% to 3.3 cents.
Why are its shares higher?
This morning the company announced that its Freeway Overpass app has been made available on the Apple App Store.
This complements the Android launch onto the Google Play store in late June and initiates marketing campaigns to drive U.S. consumer awareness and adoption.
What is Freeway Overpass?
Freeway Overpass is the first cross-carrier, over-the-top, paid and sponsored, subscription service that offers unlimited mobile access for the most popular mobile content and applications.
The company believes that its service provides relief to mobile subscribers who regularly face bill shock due to exceeding data plan limits or those that pay more for a higher-tiered plan.
The Overpass service saves consumers' money by giving them the flexibility to choose unlimited access for the specific apps and content they want to use.
Subscription plans are offered as both sponsored and paid, with paid plans starting at US$0.99 per day.
According to today's release, the expansion onto the Apple App Store now means the company has an addressable audience of over 140 million Verizon and AT&T customers.
Should you invest?
Whilst I can't say I'm at all surprised to see its shares race higher today, I would suggest investors hold off an investment for the time being.
Freeway Overpass certainly has significant potential, but I think the prudent thing to do at this point is to wait and see if consumers use the service.
The research the company has done does point to there being strong demand for the service, but I'd prefer to wait and see the numbers at its next update.
Until then I would focus on other small-cap tech shares like Big Un Ltd (ASX: BIG) and Updater Inc (ASX: UPD).
