The whole town was waiting on Afterpay’s (ASX:APT) announcement this morning, and it was probably worth it.

The BNPL juggernaut announced a deal with Westpac (ASX:WBC) which will allow Afterpay users to access Westpac transaction and savings accounts and other cashflow management tools. BNPL bedfellow Zip (ASX:Z1P) also announced a Tap and Zip feature which allows its customers to Zip Pay with a Visa card.

APT broke through the $100 barrier on the news, but how’s this for bullish – Afterpay’s CEO Anthony Eisen left the door open for tech stocks to one day displace mining as the ASX’s second-biggest sector.

That’s tantamount to treason around here. Lock him up.

But on that note… it was a good day for tech stocks on the ASX.

Announcements

– Entertainment and comms tech specialists Swift Media (ASX:SW1) released its quarterly, and it was … good enough. Revenue was up 23% on last quarter, Swift Plus entertainment systems have been snapped up by aged care facilities and rail/road camps, and staff and admin costs are down. That’s the news investors like to hear. Result? Up 23.5 Per cent.

– SaaS solutions provider AppsVillage Australia (ASX:APV) saw paying subscribers increase by 23% and Annualised Recurring Revenues (ARR) increase by 18% in Q3 2020 versus Q3 2019. Cost-saving initiatives also led to a 50% decrease in expenditure. All that more than offset a decline of 6 per cent in invoiced income compared to the coparative period in 2019 – in itself not a bad result given the global pandemic situation.

– And home security provider Scout Security (ASX:SCT) clarified an announcement from last Friday regarding the initial purchase order for hardware received from Spanish security company Prosegur Compañia de Seguridad. The order for Prosegur-branded versions of Scout’s home security hardware solutions (home security hubs, monitoring devices and hardware) will deliver “approximately US$200,000 in revenue to the Company”. SCT shares were up 43 per cent early then settled 23.5 per cent up by midafternoon.

– The sea grapes are back! According to Stemcell United (ASX:SCU), sea grapes are “consumed as food and is also used as herbal medicine in China for treatment of high blood pressure, rheumatism, and diabetes, as well as to treat bacterial and fungal infections”.

Worth a punt, then, so SCU has signed an agreement to acquire Shenzhen Lantene Dingzhi Biotechnology Co Ltd, an aquaculture company located in Shenzhen specialising in commercial scale cultivation and sale of Caulerpa Lentillifera in the Chinese market. Despite SCU admitting “there is no certainty to the acquisition producing commercial success”, SCU shares still moved up 5.56 per cent.

Trading halts

Roto-Gro International Limited (ASX:RGI) – pending it releasing an announcement
8Common Limited (ASX:8CO) – pending it releasing an announcement
MinRex Resources Limited (ASX:MRR) – pending it releasing an announcement
Lefroy Exploration Limited (ASX:LEX) – announcement regarding a capital raising
Piedmont Lithium Limited (ASX:PLL) – announcement regarding a capital raising
Dreadnought Resources Ltd (ASX:DRE) – pending it releasing an announcement
IMEXHS Limited (ASX:IME) – pending it releasing an announcement
Vortiv Limited (ASX:VOR) – pending it releasing an announcement
dorsaVi Limited (ASX:DVL) – pending it releasing an announcement

At Stockhead, we tell it like it is. While AppsVillage are Stockhead advertisers, they did not sponsor this article.

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