Tyro Payments Ltd Share Price Up 7% Today, Why? (ASX:TYR)

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Tyro Payments - TYR Share Price

Dear Reader,

Last year I wrote to you about Tyro Payments Ltd [ASX:TYR] on December 5. It was tipped to be one of the best listings of the year.

Today, the Tyro Payments share price is up 27.5%. And that’s in just a little over two months.

Last year the company raised $287.1 million at $2.75 a share. After opening at $3.30, today the share price is $4.29.

Is now a good time to buy Tyro Payments?

Great question…but first.

Who is Tyro Payments Ltd [ASX:TYR]?

Tyro Payments is Australia’s largest EFTPOS provider.

You’ve probably scanned your card on one of their terminals before.

But not only are they the biggest EFTPOS provider. They also offer business loans and banking solutions.

Currently, the company supports over 29,000 businesses.

The company’s a fairly big operation, too. They have over 450 staff members across Australia.

In 2019, they’ve helped process over $17.5 billion in transactions, which generated Tyro $189.8 million in revenue.

In December the company was valued at $1.36 billion. Today, we know the company’s valued around $1.99 billion.

Now that you know more about Tyro…

Let’s have a look at the chart.

I’ve attached it for you below…

TYR share price makes a new all-time high

ASX TYR - Tyro Payments Share Price Chart

Source: Trading View

[Click to open in a new window]

What you’re looking at above is the daily chart of Tyro Payments Ltd.

It shows the price action of Tryo since it first went public until today.

Right now Tyro is at an all-time high. That means the company’s shares have never been as high as they are today.

This is typically good news for a company.

My only observation here is that it may be due for Tyro to take a breather. At least for a few days.

I think Tyro is a stock to have on your long-term watchlist. It seems to have a bright outlook. It’s on mine.

As always, this is not a recommendation to buy or sell TYR. It is an update only. I hope you found it useful.

Until next time,

Jonathan Evans Signature

Jonathan Evans,
Analyst, Profit Watch

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