Stocks of the Hour: Humm Group, Mesoblast, Sezzle, Karoon Energy

Company News

by Melissa Darmawan

Digital financier Humm Group (ASX:HUM) has upped its contactless payment game, following the introduction of the company’s digital card, Humm TAPP, a gateway to buy-now-pay-later services. The online payment tool can be integrated into digital wallets for use across all retail stores under the BNPL network operated by the company. Humm’s partnership with Mastercard enables the product to be compatible with most in-store point of sale systems, for shoppers to purchase goods or services using a payment plan of up to five fortnightly interest-free instalments. Shares in Humm Group are trading 1.98 per cent higher at $1.03.

Regenerative medicine developer Mesoblast (ASX:MSB) has reported a downturn in earnings, as revenue plunged during the first quarter of this year. The biotech’s revenue tumbled 84.4 per cent to 1.9 US million dollars compared to 12.2 US million dollars for the same quarter last year. The cellular medicine maker told investors it may need to resubmit its application to the US FDA for its flagship product after continued discussions with the US watchdog. Shares in Mesoblast are trading 2.6 per cent lower at $1.87.

Payment solutions provider Sezzle (ASX:SZL) has inked a three-year deal to host a deferred payments system for Target stores in the US. Under the agreement, Target customers will have the option of paying in instalments on interest-free plans. The contract is considered an important step for Sezzle, as BNPL businesses are flocking to the US retail sector, to secure marketshare through partnerships with hallmark retail corporations. Shares in Sezzle are trading 22.8 per cent higher at $9.21.

Global oil and gas explorer Karoon Energy (ASX:KAR) has given the go-ahead to the company’s Patola subsea tie-in project development. The project is estimated at $175 to $195 million which involves the construction of a subsea tie-in structure off the coast in Brazil. The planned infrastructure is tipped to be operational by early 2023. Shares in Karoon Energy are trading 6.7 per cent higher at $1.36.

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