The Nearmap Ltd (ASX: NEA) share price was in sensational form on Wednesday before being placed in a trading halt.
The aerial imagery technology and location data company’s shares were up 14.5% to $2.36 before the halt.
Why is the Nearmap share price rocketing higher?
The catalyst for the rise in the Nearmap share price on Wednesday was the release of a trading update after the market close yesterday.
That update revealed that the company’s strong performance has continued since the end of the first half.
As a result, management now expects to deliver annual contract value (ACV) of $128 million to $132 million in FY 2021.
This is up…