LoopUp: have the good times come…...and gone?
The perils of a valuation inflated by a short term surge in business over the pandemic, were underlined by the latest update from LoopUp, which saw the shares crash. We consider what might be next for this cloud communications platform?
Shareholders in LoopUp Group (LON: LOOP), the cloud platform for external communications, which has been a big beneficiary of the pandemic, have had a rude awakening following the latest trading update, which saw the shares crash. Could there be worse to come? In a very competitive market, dominated by the large US technology groups, we have been wary that it might be getting harder for LoopUp. Outside of their core professional services market, where they claim to have a differentiated offering, they have started to see an acceleration of businesses no longer using their services. While these ‘non-professional‘ users apparently…