3 Software Stocks That Doubled in September

: ARQQ | Arqit Quantum Inc. News, Ratings, and Charts

ARQQ – Even with volatility in the tech sector, the continued remote working and digital transformation are expected to drive the software industry’s growth. So, it could be wise to add software stocks such as Arqit Quantum (ARQQ), Onion Global (OG), and Paltalk (PALT) to your watch list as their share prices more than doubled last month.

The major stock market indexes plunged last month partly due to the ‘September effect’ and high inflation concerns. The tech-heavy Nasdaq composite fell 2.8% to 14,546.68 on September 28, representing its worst day since March.

However, thanks to the ongoing digital transformation across sectors and continued remote working, the software industry grew. Increasing adoption of cloud platforms and rising demand for Software-as-a-service (SaaS) and enterprise software are expected to drive the industry’s growth in the near term. According to Statista, the software market is expected to grow at a CAGR of 7.4% over the next five years.

Arqit Quantum Inc. (ARQQ), Onion Global Limited (OG), and Paltalk, Inc. (PALT) are three software stocks that more than doubled last month. So, it could be wise to add these stocks to your watch list now.

Arqit Quantum Inc. (ARQQ)

London-based quantum encryption technology company ARQQ provides quantum encryption Platform-as-a-Service. This service helps make the communications links of various networked devices secure against current and future forms of attack. The company made its stock market debut on September 7, 2021.

On August 2, 2021, ARQQ announced the launch of the first version of its one-of-a-kind service, QuantumCloud 1.0, having built-in protection against future threats from quantum attacks. David Williams, the Founder, Chairman, and CEO of ARQQ said, “A growing number of customers in many sectors are now getting exposure to the transformational levels of security that can be provided by QuantumCloud.”

The stock has soared 195.2% to hit its 52-week high of $41.52 on September 23, 2021, since making its stock market debut.

Click here to check out our Software Industry Report for 2021

Onion Global Limited (OG)

Based in Guangzhou, the People’s Republic of China, OG operates a platform that markets and distributes fashionable and future brands domestically and internationally. The company sells its product offerings through its self-operated social e-commerce platforms, O’Mall, and CosyFans.

On August 27, 2021, OG announced the launch of “ZIPLAB,” the Group’s first new retail showroom in Guangzhou. OG’s Founder and CEO, Mr. Cong Li, said, “The launch of ZIPLAB enables us to create a new marketing setting from online to offline while simultaneously elevating the synergies between consumers, products, and channels.”

OG’s non-GAAP net income increased 17.8% year-over-year to $7.49 million for the fiscal second quarter that ended June 30, 2021. The company’s other operating income came in at $242,000, up 331.1% year-over-year. In addition, its total assets came in at $245.99 million, for the period ended June 30, 2021, compared to $164.32 million for the period ended December 31, 2020.

Analysts expect OG’s revenue to be $1.12 billion in fiscal 2022, representing a 36% year-over-year rise. In addition, the company’s EPS is expected to increase 39.1% year-over-year to $0.71 in fiscal 2022. Over the past month, the stock has gained 169.1% to close Friday’s trading session at $8.33.

Paltalk, Inc. (PALT)

PALT, together with its subsidiaries, operates as a communications software provider that develops multimedia social applications and secure communication solutions worldwide. It also provides technology development and related services; and professional services.

PALT shifted its listing to the Nasdaq Capital Market on August 3, 2021. Jason Katz, the company’s Chairman and CEO, said, “The uplisting of our common stock to Nasdaq has been an important goal for us, and we’re excited to have achieved this significant milestone in Paltalk’s evolution. Along with increasing our visibility in the marketplace, the uplisting has the potential to improve the liquidity of our stock, further broaden our institutional stockholder base and ultimately enhance long-term stockholder value.”

PALT’s total revenues came in at $3.42 million for the fiscal second quarter that ended June 30, 2021, compared to $3.38 million in the year-ago period. The company’s technology service revenue came in at $218,000, representing a 94.6% year-over-year rise. Its net income came in at $822,000, up 54.5% year-over-year. Also, its adjusted EBITDA increased 12.6% year-over-year to $669,000.

Over the past month, the stock has gained 178.4% to close Friday’s trading session at $10.07.


About the Author: Riddhima Chakraborty


Riddhima is a financial journalist with a passion for analyzing financial instruments. With a master's degree in economics, she helps investors make informed investment decisions through her insightful commentaries. More...


More Resources for the Stocks in this Article

TickerPOWR RatingIndustry RankRank in Industry
ARQQGet RatingGet RatingGet Rating
OGGet RatingGet RatingGet Rating
PALTGet RatingGet RatingGet Rating

Most Popular Stories on StockNews.com


:  |  News, Ratings, and Charts

10 Best POWR Ratings Stocks

Investors love using our POWR Ratings to track down stocks likely to outperform the S&P 500 (SPY). However, on any given day there are over 1,300 that are Buy rated. This leads customers to reach out to us to discover which are the BEST of these stocks. Today I share the answer including details on the current 10 best POWR Ratings stocks. Get the rest below...

:  |  News, Ratings, and Charts

Are Stocks Ready to Break to New Highs?

The stock market (SPY) is on a 5 day winning streak and now less than 1% away from the all time highs. This quickly shakes off weeks of painful pullbacks and volatility. Is the market truly ready to ascend to new heights or is this another fake out before the next leg lower? Find out the rest below...

:  |  News, Ratings, and Charts

TTSH is this Week’s Featured Stock 

The Tile Shop Holdings (TTSH) is a leading specialty retailer of manufactured and natural stone tiles. The company has staged an impressive earnings turnaround. Read more to find out why the stock is a good buy into year-end.

:  |  News, Ratings, and Charts

Buy These 3 Tech Stocks Before They Soar Further

Tech stocks, which were underperformers at the start of the year, have made their way back as investors have been buying on the dip. Many of these stocks, which include Applied Materials Inc. (AMAT), KLA Corporation (KLAC), and Amdocs Limited (DOX) are currently in an uptrend and are expected to continue this momentum.

:  |  News, Ratings, and Charts

TTSH is this Week’s Featured Stock 

The Tile Shop Holdings (TTSH) is a leading specialty retailer of manufactured and natural stone tiles. The company has staged an impressive earnings turnaround. Read more to find out why the stock is a good buy into year-end.

Read More Stories

More Arqit Quantum Inc. (ARQQ) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All ARQQ News