Pentanet Limited (ASX: 5GG) debuted on the ASX just last week on the 29th of January 2021. Paentanet is a Perth based internet service provider and within a week of their IPO, the firm announced that their active subscribers grew by 218% compared to the previous quarter as it crossed the 10,000 mark. The growth in the active subscribers was because of leading network technology coupled with a customer-centric service.
Pentanet is poised to commence the expansion of its fixed-wireless network, increasing network coverage across the Perth metropolitan area and reaching more prospective customers. Expansion of Pentanet’s owned fixed-wireless network is a key strategic focus for the business given the substantially better margins than reselling the NBN to end users. Pentanet also has plans to be a part of the cloud gaming rollout, the next wave of subscription-based entertainment services. The Company will partner with NASDAQ-listed NVIDIA. Through the deal, Pentanet would be the first to get NVIDIA’s GeForce NOW technology to Australia in 2021 – wherein gamers would be able to stream and play major titles straight to their mobiles and PCs.
Looking for Growth Stocks?
Growth stocks are potentially one of the hardest to pick as there are a lot of factors that need to be considered – from industry tailwinds to financial health of the individual stocks, and a lot of little things in between them. Shares in Value research team have picked their top 3 ASX stocks to buy in 2021. Click here to download the report for free.
