Guess which ASX tech share just rocketed 40%

This nano cap is having a brilliant day.

| More on:
A male ASX investor sits cross-legged with a laptop computer in his lap with a slightly crazed, happy, excited look on his face while next to him a graphic of a rocket shoots upwards with graphics of stars scattered around it

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • Tiny nano cap ASX tech share Revasum is up 39.39% on Thursday 
  • The semiconductor equipment manufacturer has not released any news today 
  • It's a good day for ASX tech shares in general, with the index the second-best-performing market sector 

ASX tech share Revasum Inc (ASX: RVS) is soaring with its share price up 39.39% despite no news from the company today.

Revasum is an ASX nano-cap share with a market capitalisation of just $17.5 million.

The company designs, manufactures, and markets semiconductor processing equipment used in the creation of wafers, which are inserted into microchips, sensors, LEDs, mobile phones, and cars.

So, why is this ASX tech share shooting the lights out today?

Great day for ASX tech shares

Revasum may be riding a broader momentum wave for ASX tech shares today, although that doesn't explain the scale of its share price increase.

The S&P/ASX 200 Information Technology Index (ASX: XIJ) is the second-best performer of the 11 market sectors today.

It's up 2.44% at the time of writing, with many ASX tech shares enjoying surges today.

Revasum is the top-performing ASX tech share, followed by fellow nano cap Digitalx Ltd (ASX: DCC) shares, up by 20%.

Some other big ASX tech share movers today include Brainchip Holdings Ltd (ASX: BRN) shares, up 11.5%, and Sezzle Inc (ASX: SZL) shares, up 9%.

What's the latest news from Revasum?

The last time we heard price-sensitive news from Revasum was last Wednesday when the company announced a financing facility deal.

Revesum told the market it has entered into a non-binding term sheet with SQN Venture Partners LLC and Firsthand Capital Management.

Firsthand has backed the company since its incorporation. It will invest up to an additional US$2 million to help Revesum cure a recent default in its financing agreement with SQN.

Revesum has a growth capital facility with SQN. On 2 September, the company announced it had defaulted by failing to meet certain covenants, such as a requirement to maintain at least six months of liquidity.

The money invested by Firsthand will help cure the breach, with discussions ongoing to finalise the terms. The parties have not yet decided whether the $2 million will be taken as debt, equity, or a mix of both.

Revesum share price snapshot

This ASX tech share is down 73% over the past 12 months.

But it's enjoying a better time in 2023, up 77% in the year to date.

Revesum has only been trading on the ASX for four years. It began trading in December 2018 at $2 per share with a market capitalisation of $153 million.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the 'five best ASX stocks' for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Technology Shares

Man on his laptop standing next to data centres.
AI Stocks

3 reasons to buy this $9 billion ASX 200 AI stock today

A leading expert forecasts this $9 billion ASX 200 AI stock will deliver “meaningful earnings upside”.

Read more »

Business people discussing project on digital tablet.
Technology Shares

After its result, what does Macquarie think Xero shares are worth?

Here's what the leading broker is saying about this tech stock.

Read more »

A woman sits at her computer with her chin resting on her hand as she contemplates her next potential investment.
Technology Shares

Gentrack share price down 5% on half-year results

Let's unpack what was reported.

Read more »

Man with rocket wings which have flames coming out of them.
Technology Shares

Which ASX All Ords stock is jumping 14% on big counter-drone news

Investors are responding positively to news of a big contract win.

Read more »

Two plants grow in jars filled with coins.
Technology Shares

2 ASX growth shares I'd buy with $5,000 right now

I’m bullish about these two stocks with compelling growth potential.

Read more »

A woman on a green background points a finger at graphic images of molecules, a rocket, light bulbs and scientific symbols as she smiles.
Technology Shares

Growth investors should put these 2 top ASX tech shares on the watchlist

I think growth stocks from the tech sector could be exciting options.

Read more »

One girl leapfrogs over her friend's back.
Technology Shares

This ASX 200 tech stock would have doubled your money in a year. Is it too late to buy now?

After more than doubling in a year, here’s what Macquarie expects next for this soaring ASX 200 tech stock.

Read more »

Two brokers analysing stocks.
Technology Shares

What are top brokers saying about Xero shares?

Is now the time to buy this popular share? Let's see what brokers are saying.

Read more »