Stakk Ltd jumps +25% and sees liquidity surge after announcing deal with IBM

Only days after announcing a deal with the FBI, Stakk Ltd (ASX: SKK) – now focused on digital anti-fraud technology – has announced yet another big name partner, entering into a deal with global US tech giant IBM.

While the jump of +25% brings the share price to just under 3cps, it’s worth looking at the volume of shares trading hands in morning trades on Tuesday.

On the back of the IBM announcement, Stakk has seen $4.2M of shares traded, which in terms of shares in issue sees 152.4M trading hands at 11.45am AEDT compared to a 4wavg of 67.1M. The company has over 6B shares on issue.

Still, investor interest in the company has been growing pointedly in recent weeks; Stakk first landed on radars last year when it entered into a deal with US trading app Robinhood that was the first app to kick off the ‘meme stock’ era of the COVID lockdown years.

But, today, Stakk has a new product and primary focus – AI document intelligence detection software, aimed to spot fraudulent signatures and the like, which it recently acquired off a US company called ParaScript for US$63M.

It is that product offering which Stakk’s taken to IBM with the international giant interested enough to assess the product for the latter’s own purposes.

While dollar signs were absent from the announcement on Tuesday Stakk pointed to an immediate revenue contribution with the initial term of engagement lasting into late September of 2027.

“Securing this new business with IBM is a proud moment for Stakk and further evidence that our pipeline is translating into enterprise wins,” Stakk IQ CEO Emiliano Giacchetti said.

“We are expanding in the U.S. and internationally, building on our established capabilities and relationships to enter new geographies without a significant expansion of our cost base.

“Our momentum continues to build, and we expect further wins to follow.”

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