Life360 (ASX:360) released its March quarter trading update this morning including 63% growth in subscription revenue and annualised monthly revenue increased to US$166.1m. Investors are selling out of Life360 shares though after the company announced the cessation of plans to dual list in the US amid changing market conditions. Shares in Life360 are down almost 19% today.
Northern Star Resources (ASX:NST) also released a March quarter trading update today that has disappointed investors. Despite the company?s Australian productions and cost remaining inline with the 2022 financial year guidance, Northern Star Resources? operations at Pogo are expected to have lower production and higher costs. Following the release, Northern Star Resources shares are trading 4.31% lower.
29Metals (ASX:29M) also joined the list of companies releasing a March quarter trading update today. 29Metals announced labour shortages led to lower overall development activities.
Following the announcement, shares are down 3.5%.