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Yahoo Finance: Why the Catapult share price is charging 6% higher today

The Catapult Group International Ltd (ASX: CAT) share price is on form again on Thursday.

In morning trade the sports analytics and wearables company’s shares are up 6% to $1.94.

This means that Catapult’s shares have now risen a sizeable 24% since the start of the year.

Why is the Catapult share price charging higher?

The Catapult share price has been charging higher on Thursday following the release of an update on its U.S. business.

According to the release, Major League Rugby (MLR) has implemented Catapult’s technology for all 12 of its teams starting with the 2020 season.

MLR is the premier rugby union competition in North America. It has a 17-week regular season that kicks off in February and follows a league-plus-knockout format where teams play 16 regular season matches for a chance to advance to the playoffs. Matches are broadcast on CBS Sports Network and internationally on Facebook Live.

The league’s commissioner, George Killebrew, used Catapult previously when working for the Dallas Mavericks.

He revealed that he is excited to deploy a league-wide solution to enhance the development of North America’s best rugby players.

“I’m pleased to be partnering with Catapult once again to utilise their top of the line sports technology capabilities. I know the difference that their products can make for professional athletes and I feel this partnership is crucial for continued development of our athlete’s training, and our league analytics,” Mr Killebrew said.

Read the full Yahoo Finance article here.