Dev Clever Holdings PLC (LON: DEV) were up 1.85% as investors digested the recent $130 million capital raise by fellow UK ed-tech startup Multiverse valuing the private startup at $875 million (£639 million).
Many argue that Dev Clever should be worth more given its broader addressable market and the fast-growing nature of its EdTech services that equip learners with appropriate skills to join the labour market once they complete their schooling.
Dev Clever has a partnership with Lenovo, which gives it a global audience and market for its products offered via Lenovo laptops sold to students.
Multiverse’s recent capital raise has raised awareness of the potential growth in the EdTech, which is expected to grow from $85.8 billion in 2020 to $181.3 billion by 2025.
The industry is snowballing as employers focus on hiring employees with relevant skills that can boost business operations instead of the legacy college degrees that leave graduates ill-equipped to cope with current jobs.
Lastly, as shown on the chart below, we must mention how Dev Clever shares respect for former support and resistance levels. As shown in my July article here, I drew all the support and resistance levels months ago, yet they have been respected to date.
Dev Clever shares just bounced off the 38p resistance and would have to break above the level to print new highs. As a short-term trader, I would be looking for potential buys on a break above the resistance level or a drop to the 29p support level if it holds.
*This is not investment advice. Always do your due diligence before making investment decisions.
Dev Clever share price.
Dev Clever shares are up 133.66% this year but have pulled back from their June all-time highs.
Dev Clever shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Dev Clever shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 68 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .
Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading