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LiveHire tanked 15% today after releasing a Q1 update.

ASX closed green; LiveHire tanked 15% on Q1 update; Tyro Payments shares dip on class action news

The ASX200 closed the midweek session 0.53% higher at 7413.70.

LiveHire tanked 15% on Q1 update including revenue decline.

Tyro Payments shares hit by Federal Court proceedings filed.

The Australian market rebounded from Tuesday’s losses to close 0.53% higher at 7413.70 on Wednesday, boosted by a surge in tech and financial stocks.

The tech rally extended into afternoon trade with the sector finishing the day 1.59% higher led by Appen surging 4.59%, Megaport adding 3.02% and Nearmap closing the session 2.94% higher.

Bitcoin is trading 2.45% higher over the last 24-hours at US$63,907.50 at 4:30pm AEDT.

Cloud-based human resources platform LiveHire tanked 15.38% today after releasing a first quarter trading update. LiveHire operates in 2 segments, the Direct Sourcing business and Talent Community SaaS business. Despite LiveHire reporting a 700% growth in revenue for its North American Direct Sourcing business, LiveHire’s overall revenue came in at $576,000, significantly lower than the $686,000 in the prior quarter. The company also brought in 8 new clients to its SaaS business over the quarter, but lost 5 in the process.

Making headlines, Tyro payments took a hit today after announcing a class action has been filed with the Federal Court of Australia. The payments solution provider released a statement saying proceedings have been filed with the Federal court but not yet served on Tyro in ‘alleging, among other things, misleading and deceptive conduct’ which Tyro believes is related to the terminal connectivity incident in January 2021.

And an email to popular dating app Bumble has gone viral after a man emailed the company asking if there was a ‘glitch’ in the system as he was not getting any matches.

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