Reboot: Big American techs just dropped $US150k to back one of their own for president
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Here it is — your fortnightly tech stocks wrap.
A year out from the 2020 US presidential election, the tech sector is getting behind one of its own – Andrew Yang.
According to OpenSecrets, the big four tech companies (Google, Amazon, Facebook and Apple) have collectively dropped $US153,700 ($226,146) on his campaign.
Earlier this week a major fundraiser was held, hosted by fellow tech entrepreneur Sam Altman. Of course they talked against breaking up big tech.
One of his campaign appearances this week was on a basketball court…
— Andrew Yang🧢⬆️🇺🇸 (@AndrewYang) November 12, 2019
Traditionally, the real estate sector has created the most wealth for Chinese entrepreneurs. But a joint UBS & PwC report found that for every one new Chinese billionaire who got rich from real estate – there were three that earned their wealth from tech.
Looking at the Australian market, in the past fortnight the tech sector has been flat but is up 20 per cent in the past 12 months.
Only one company doubled in the last fortnight — software company Corum Group (ASX:COO), which is up 105 per cent this month.
Corum had no news this month but last month it became an approved vendor for software solutions among the Pharmacy Alliance’s member network.
It probably also helped that its recent quarterly showed a new cash inflow from operations.
Nanoveu (ASX:NVU) told shareholders last Thursday it was on the cusp of commercialising its technology and it gained 16 per cent.
Beam Communications (ASX:BCC) had a bit of a rough fortnight, but it jumped 25 per cent yesterday with news Telstra approved its IT.
DigitalX (ASX:DCC), meanwhile, decided to launch its own bitcoin fund.
Executive director Leigh Travers told Stockhead it would work just like a traditional fund but with exposure to this asset that was otherwise difficult to access.
On a yearly basis, accounts receivable technology stock IODM (ASX:IOD) is head and shoulders above the rest with a whopping 1,329 per cent gain.
Three other tech stocks have quadrupled in 12 months: Netlinkz (ASX:NET), Splitit Payments (ASX:SPT) and Connexion Telematics (ASX:CXZ).
A further 20 stocks have risen between 100 and 299 per cent in 2019 including medical sample tracker BlueChiip (ASX:BCT) and consumer finance platform Wisr (ASX:WZR).
Here are all the ASX small cap technology stocks and their performance in the past fortnight:
Swipe or scroll to reveal the full table. Click headings to sort