“Nearmap Ltd(ASX: NEA) gained 10.0% to 55 cents, after The Australian today reported that the company had dropped its action against Spookfish Limited(ASX: SFI). Nearmap had reported that it had dropped the case in an ASX announcement yesterday. Now the company is clear to focus on its US expansion, and building up its profitable Australian operation. Clearly the aerial photomapping company doesn’t think it’s worthwhile pursuing Spookfish.“
NEA Price at posting:
$1.59 Sentiment: Buy Disclosure: Held