Reboot: Buy now, pay later stocks have some competition in the tech space
Link copied to
Here is Stockhead’s fortnightly wrap of all the news driving ASX small cap tech stocks.
As reporting season draws to a close, the buy now, pay later sector no longer stands as 2019’s only tech success story.
Smart Parking (ASX:SPZ) gained 105 per cent in the last fortnight. While its financials deteriorated, it was not enough for potential suitors to lose interest in the company. Thus far, the board has rejected them all making it clear interested parties will have to pay a premium for it.
Medical sample tracker BlueChiip (ASX:BCT) has had no news this financial year except its quarterly and annual report. But the latter led it to surge another 43 per cent and it has gained 136 per cent this year.
Digital banking platform Change Financial (ASX:CCA) has not had the best 12 months but it gained 45 per cent in two weeks. It told shareholders it was making progress on reducing cash burn but would likely need another capital raise.
Canadian patent protection and a partnership with WellKom has sent MyFiziq (ASX:MYQ) up 64 per cent in the last fortnight.
archTIS (ASX:AR9) is now 54 per cent higher than two weeks ago, much of which happened yesterday when it revealed it had landed a government contract.
The buy now, pay later stocks were hardly fizzers though. The four of them gained an average of 23 per cent between them — led by Afterpay (ASX:APT) which is up 32 per cent.
Even the most unloved stock in the sector, Splitit (ASX:SPT), which surged from 20c to $2 then as low as 40c last month, has rebounded post results.
Zip (ASX:Z1P) has had the biggest yearly gain (of BNPL stocks), with it now being nearly four times higher than a year ago.
But two stocks have gained over 500 per cent in 12 months. First, virtual networking technology stock Netlinkz (ASX:NET) and second, debt collector IODM (ASX:IOD).
Among other big yearly winners were Dubber Corp (ASX:DUB), Dreamscape Networks (ASX:DN8) and 8Common (ASX:8CO).
Here’s how ASX small cap tech stocks have performed in the past fortnight and year:
Swipe or scroll to reveal the full table. Click headings to sort