Former Penny Stock's 54,000% Rise Makes Two Australians Billionaires
In 2009, as the global financial crisis rumbled, a little-known Australian health-tech firm snapped up a struggling imaging company for $3.5 million. Today, that bet has turned Pro Medicus Ltd. into a A$29 billion ($19 billion) firm — its shares soaring 54,000% over the past 15 years to outpace even artificial intelligence giant Nvidia Corp.
The rally in the Melbourne-headquartered provider of cloud-based cancer diagnostic software has also vaulted its founders — Sam Hupert and Anthony Hall — into the ranks of the world's richest. Each is now worth about $4.7 billion, according to the Bloomberg Billionaires Index, which is valuing them for the first time.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Stock Market News for Jun 13, 2025
U.S. stock markets closed higher on Thursday as market participants weighed the outcome of the U.S.-China trade talks. A softer-then-expected key inflation data and a weak labor market data bolstered investors' sentiment. All three major stock indexes ended in positive territory. The Dow Jones Industrial Average (DJI) rose 0.2% or 101.85 points to close at 42,967.62. Notably, 19 components of the 30-stock index ended in positive territory and 11 finished in negative zone. The tech-heavy Nasdaq Composite finished at 19,662.48, advancing 0.2% due to strong performance of technology bigwigs. AI-based semiconductor giants like NVIDIA Corp. NVDA and Broadcom Inc. AVGO rose 1.5% and 1.3%, respectively. Both stocks currently carry a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. The S&P 500 gained 0.3% to finish at 6,045.26. Wall Street's most observed benchmark is currently less than 2% away from its all-time high. Seven out of 11 broad sectors of the broad-market index ended in positive territory while three in negative zone and one remained unchanged. The Utilities Select Sector SPDR (XLU) and the Technology Select Sector SPDR (XLK) rose 1.2% and 0.9%, respectively. On the other hand, the Communication Services Select Sector SPDR (XLE) fell 0.8%. The fear-gauge CBOE Volatility Index (VIX) was up 4.4% to 18.02. A total of 23.5 billion shares were traded on Thursday, higher than the last 20-session average of 18 billion. The S&P 500 recorded 12 new 52-week highs and 3 new 52-week lows. The Nasdaq registered 54 new 52-week highs and 63 new 52-week lows. The United States and China reached an agreement for trade and tariffs in London. U.S. Commerce Secretary Howard Lutnick said 'We have reached a framework to implement the Geneva consensus and the call between the two presidents.' This was echoed by Li Chenggang, China's international trade representative and a vice minister at China's Commerce Ministry. President Donald Trump said that the deal with China is 'done, subject to final approval with President Xi and me.' U.S. was seeking confirmation that China would restore critical mineral (rare earth) exports. Beijing protested against the U.S. Commerce Department's warnings to U.S. chipset manufacturers against using Chinese semiconductors. On May 12, the United States and China have decided to for a 90-day pause of tariff implementations. The Department of Labor reported that initial claims remained flat at 248,000 for the week ended Jun 7, higher-than the consensus estimate of 246,000. Previous week's data was revised marginally upward by 1,000 from 247,000 reported earlier. Continuing claims (those who have already received government aids and reported a week behind) increased 54,000 to 1.956 million. This is the highest level for insured unemployment since Nov 13, 2021. Previous week's data was revised downward by 2,000 to 1.904 million. The Department of Labor reported that the producer price index (PPI) increased 0.1% in May, less-than-the consensus estimate of 0.2%. The metric for April was revised upward to a decline of 0.2% from a drop of 0.5% reported earlier. Year over year, PPI increased 2.6% in May. Core PPI (excluding volatile food and energy items) increased 0.2% in May, less-than-the consensus estimate of 0.3%. The metric for April was revised downward to 0.3% from 0.4% reported earlier. Year over year, core PPI increased 2.7% in May. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Broadcom Inc. (AVGO) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Hamilton Spectator
3 hours ago
- Hamilton Spectator
Roots not seeing ‘pullback' in consumer spending as retailer reports $7.9M Q1 loss
TORONTO - Consumers grappling with a global tariff war have yet to drop Roots Corp. from their shopping trips, the apparel retailer's CEO said Friday, as the company reported a $7.9 million loss. 'We haven't seen any weakening and no pullback,' Meghan Roach told analysts who asked her whether consumer confidence has been lagging or if customers were trading down for more affordable products. Her observation was reflected in the retailer's first-quarter results, which showed sales at the Toronto-headquartered company rose 6.7 per cent to $40 million. Much of the boost came from the company's direct-to-consumer business, which includes its retail stores and e-commerce operations. Sales from that division totalled $34.6 million for the period ended May 3, up from $31.4 million a year earlier. The segment also saw comparable sales growth of 14.1 per cent. Roach attributed the increase to existing products resonating with customers who she said responded well to the company's latest releases, too. 'We were also seeing strong adoption of updated cuts, which offer a modern take on comfort while staying true to the brand's DNA,' she said. 'This momentum in our core collection and the success of our new programs gives us confidence as we continue to balance innovation with the consistency your customers expect from us.' Meanwhile, partner and other sales, which include wholesale Roots branded products, licensing to select partners and certain custom products, fell to $5.4 million, compared with $6.1 million in the same quarter last year. Overall, Roots reported a first-quarter loss of $7.9 million compared with a loss of $8.9 million a year earlier as its sales rose 6.7 per cent. The loss amounted to 20 cents per share for the quarter compared with a loss of 22 cents per share in the same quarter last year. The results fit Roots' usual cadence, Roach said. Typically, the company generates 30 per cent of its sales in the first half of the year, when it tends to generate a loss. The back half usually brings profit. This year Roots has been working to close 'underperforming' stores and reallocate resources to 'high potential' locations where the brand is resonating and there are opportunities for traffic growth. Customer feedback and in-store analytics have also pushed the company to give some stores a makeover that has introduced new layouts, digital tools and modern materials and finishes into flexible fixtures meant to help the brand transition between seasons. 'The goal is to create a more immersive, intuitive, and inspiring retail environment, one that aligns with our brand direction and deepens emotional connection with customers,' Roach said. This report by The Canadian Press was first published June 13, 2025. Companies in this story: (TSX:ROOT)
Yahoo
3 hours ago
- Yahoo
D-Wave Quantum (QBTS) Drops on Profit-Taking
We recently published a list of . D-Wave Quantum Inc. (NYSE:QBTS) is one of the worst-performing stocks on Thursday. D-Wave Quantum dropped its share prices by 3.33 percent at intraday trading on Thursday, as investors continued to book profits following Nvidia Corp. CEO Jensen Huang's optimistic comments about the quantum computing industry. At a conference in Paris on Wednesday, Huang said that quantum computing was reaching an inflection point, sparking an intraday rally among quantum computing stocks before slight profit-taking pulled their share prices back. A modern computer datacenter, running an advanced quantum computer system. According to Huang, the world is within reach of being able to use quantum computers to be applied in areas and solve interesting problems in the coming years. In recent news, D-Wave Quantum Inc. (NYSE:QBTS) announced plans to raise as much as $400 million to fund general corporate purposes, including working capital, capital expenditures, and possible acquisitions and expansion plans. This followed another $95.8 million previously through the issuance of 8.33 million warrants at a price of $11.50 apiece. The warrants were assumed by D-Wave Quantum Inc. (NYSE:QBTS) in connection with its merger with DPCM Capital Inc., which was completed on August 5, 2022. While we acknowledge the potential of QBTS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None.
