SoftBank's CEO Masayoshi Son in happier times - unveiling SoftBank's robotics unit's humanoid (Pic: Getty)
Tech
Here it is — your fortnightly tech stocks wrap.
2 years ago, when SoftBank CEO Masayoshi Son last spoke at the Saudi Arabia Future Investment Initiative, Softbank’s newest fund raised nearly $100 billion.
After skipping 2018’s summit (following the murder of Jamal Khashoggi) Masayoshi returned and spoke in front of…no one.
WeWork was going to IPO before investors realised just how overvalued it was. Now, the IPO is off the table, several executives have left, and the business is struggling to stay afloat. Uber did list but has lost 25 per cent of its value — and we have no idea when, or if, it will be profitable.
US tech commentator Scott Galloway said this earlier in October:
” …We are seeing the mother of all shifts from a focus on growth to margin.”
“Inspired by [Amazon]…firms saw a shortcut: paint a compelling vision and offer $10 worth of service for $5,” he said.
But Amazon had eventually had positive margins and reached profitability. WeWork raised more money from one fund ($11 billion) than the total sum of venture capital in 1996.
Galloway said SoftBank would “sober up, acknowledge the laws of physics and confirm some sort of pre-pack restructuring/bankruptcy [for WeWork] before Thanksgiving”.
As for Uber, he said it had some time to avoid a similar fate but would have to move to margins by raising prices and exiting unprofitable markets.
Read More:
The Secret Broker: When WeWork becomes Don’t Work
For months, analysts have been warning us the rise of tech was a bubble that will bust. Should they be boasting “we told you so” yet?
Industry wide it’s still too early but investors have begun to worry about a handful of stocks, while continuing to invest in others.
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
| Code | Name | Price | 2 Week Return | 1 Year Return | Market Cap |
|---|---|---|---|---|---|
| RD1 | REGISTRY DIRECT LTD | 0.016 | 60 | -44 | $ 2,757,973.25 |
| CT1 | CCP TECHNOLOGIES LTD | 0.014 | 32 | 8 | $ 9,565,283.00 |
| NVX | NOVONIX LTD | 0.615 | 31 | 14 | $ 78,804,672.00 |
| CL1 | CLASS LTD | 1.925 | 31 | 11 | $ 230,617,632.00 |
| CSV | CSG LTD | 0.305 | 30 | 61 | $ 137,023,392.00 |
| UBN | URBANISE.COM LTD | 0.051 | 29 | 54 | $ 37,286,876.00 |
| JAN | JANISON EDUCATION GROUP LTD | 0.39 | 29 | 4 | $ 73,509,984.00 |
| CAG | CAPE RANGE LTD | 0.94 | 25 | -53 | $ 78,638,800.00 |
| QFY | QUANTIFY TECHNOLOGY HOLDINGS | 0.005 | 25 | -62 | $ 7,460,192.00 |
| CV1 | CV CHECK LTD | 0.165 | 23 | 158 | $ 46,751,628.00 |
| PPS | PRAEMIUM LTD | 0.645 | 23 | -17 | $ 261,116,176.00 |
| EOL | ENERGY ONE LTD | 2.52 | 22 | 166 | $ 56,732,992.00 |
| PIL | PEPPERMINT INNOVATION LTD | 0.011 | 22 | -42 | $ 10,863,407.00 |
| DSE | DROPSUITE LTD | 0.044 | 22 | -55 | $ 21,721,944.00 |
| WSP | WHISPIR LTD | 1.86 | 22 | 17 | $ 194,451,552.00 |
| SVT | SERVTECH GLOBAL HOLDINGS LTD | 0.018 | 20 | 80 | $ 11,829,090.00 |
| DCC | DIGITALX LTD | 0.032 | 20 | -52 | $ 17,886,504.00 |
| SM8 | SMART MARINE SYSTEMS LTD | 0.03 | 20 | 21 | $ 9,235,690.00 |
| VLT | VAULT INTELLIGENCE LTD | 0.34 | 20 | 52 | $ 42,879,004.00 |
| CXZ | CONNEXION TELEMATICS LTD | 0.026 | 18 | 225 | $ 22,104,292.00 |
| PRO | PROPHECY INTERNATIONAL HLDGS | 0.52 | 18 | 58 | $ 33,285,088.00 |
| RZI | RAIZ INVEST LTD | 0.99 | 14 | 56 | $ 66,229,988.00 |
| SKF | SKYFII LTD | 0.16 | 14 | -11 | $ 50,970,084.00 |
| COO | CORUM GROUP LTD | 0.04 | 14 | 3 | $ 10,246,704.00 |
| TV2 | TV2U INTERNATIONAL LTD | 0.008 | 13 | 80 | $ 23,663,142.00 |
| SCL | SCHROLE GROUP LTD | 0.018 | 13 | 13 | $ 15,977,164.00 |
| SPT | SPLITIT PAYMENTS LTD | 0.95 | 12 | 390 | $ 301,382,496.00 |
| SF1 | STEMIFY LTD | 0.029 | 12 | -96 | $ 4,407,200.50 |
| CCA | CHANGE FINANCIAL LTD | 0.25 | 11 | 240 | $ 25,117,064.00 |
| SMX | SECURITY MATTERS LTD | 0.3 | 11 | -40 | $ 33,522,550.00 |
| AMO | AMBERTECH LTD | 0.11 | 10 | -41 | $ 3,363,050.00 |
| FTC | FINTECH CHAIN LTD | 0.17 | 10 | 221 | $ 110,630,832.00 |
| ID8 | IDENTITII LTD | 0.355 | 9 | -54 | $ 19,354,174.00 |
| PYG | PAYGROUP LTD | 0.83 | 9 | 30 | $ 42,887,316.00 |
| CWL | CHANT WEST HOLDINGS LTD | 0.074 | 9 | 19 | $ 9,170,361.00 |
| SPZ | SMART PARKING LTD | 0.215 | 7 | 26 | $ 79,027,376.00 |
| CCG | COMMSCHOICE GROUP LTD | 0.074 | 7 | -8 | $ 14,087,773.00 |
| TBL | TAMBLA LTD | 0.45 | 7 | -25 | $ 8,919,288.00 |
| KNO | KNOSYS LTD | 0.11 | 6 | 16 | $ 14,323,558.00 |
| CAT | CATAPULT GROUP INTERNATIONAL | 1.43 | 5 | 31 | $ 262,480,784.00 |
| SRH | SAFEROADS HOLDINGS LTD | 0.2 | 5 | -35 | $ 7,280,000.00 |
| PVS | PIVOTAL SYSTEMS CORP INC-CDI | 1.45 | 5 | -42 | $ 161,659,840.00 |
| SZL | SEZZLE INC-CDI | 2.63 | 5 | 121 | $ 538,528,640.00 |
| SP3 | SPECTUR LTD | 0.105 | 5 | -49 | $ 7,206,472.00 |
| MOB | MOBILICOM LTD/AUSTRALIA | 0.105 | 5 | 22 | $ 27,083,356.00 |
| SMN | STRUCTURAL MONITORING-CDI | 0.9825 | 5 | -6 | $ 119,174,560.00 |
| MOQ | MOQ LTD | 0.23 | 5 | 0 | $ 40,816,636.00 |
| BTH | BIGTINCAN HOLDINGS LTD | 0.59 | 4 | 81 | $ 182,015,536.00 |
| TZL | TZ LTD | 0.12 | 4 | -34 | $ 8,819,770.00 |
| ISD | ISENTIA GROUP LTD | 0.38 | 4 | 55 | $ 76,000,000.00 |
| DWS | DWS LTD | 1.07 | 4 | 0 | $ 143,696,144.00 |
| RUL | RPMGLOBAL HOLDINGS LTD | 0.83 | 4 | 30 | $ 177,899,984.00 |
| EPD | EMPIRED LTD | 0.29 | 4 | -40 | $ 46,377,984.00 |
| RDF | REDFLEX HOLDINGS LTD | 0.48 | 3 | 12 | $ 72,500,456.00 |
| CGO | CPT GLOBAL LIMITED | 0.175 | 3 | 18 | $ 6,619,316.50 |
| RKN | RECKON LTD | 0.76 | 3 | 9 | $ 86,104,072.00 |
| OMN | ONEMARKET LTD | 0.965 | 3 | 17 | $ 99,771,968.00 |
| IOD | IODM LTD | 0.2 | 3 | 1233 | $ 105,984,144.00 |
| CNW | CIRRUS NETWORKS HOLDINGS LTD | 0.04 | 3 | 150 | $ 35,335,364.00 |
| DTL | DATA#3 LTD | 3.485 | 2 | 143 | $ 537,372,544.00 |
| BCC | BEAM COMMUNICATIONS HOLDINGS | 0.19 | 2 | 36 | $ 11,896,527.00 |
| OCL | OBJECTIVE CORPORATION LTD | 4.52 | 2 | 73 | $ 420,259,968.00 |
| ELO | ELMO SOFTWARE LTD | 6.62 | 2 | 4 | $ 496,790,720.00 |
| WBT | WEEBIT NANO LTD | 0.395 | 1 | -47 | $ 28,414,220.00 |
| RHP | RHIPE LTD | 2.76 | 1 | 136 | $ 389,520,640.00 |
| DN8 | DREAMSCAPE NETWORKS LTD | 0.2675 | 1 | 106 | $ 104,232,264.00 |
| GBT | GBST HOLDINGS LTD | 3.85 | 0 | 117 | $ 268,106,528.00 |
| WZR | WISR LTD | 0.13 | 0 | 155 | $ 107,449,664.00 |
| JCS | JCURVE SOLUTIONS LTD | 0.03 | 0 | -30 | $ 9,835,707.00 |
| BID | BIDENERGY LTD | 0.565 | 0 | -14 | $ 71,266,152.00 |
| AO1 | ASSETOWL LTD | 0.008 | 0 | -45 | $ 2,409,766.50 |
| KTE | K2 ENERGY LTD | 0.005 | 0 | -44 | $ 1,503,285.75 |
| HYD | HYDRIX LTD | 0.032 | 0 | -20 | $ 21,418,510.00 |
| NOR | NORWOOD SYSTEMS LTD | 0.003 | 0 | -25 | $ 6,490,581.00 |
| SRO | SHAREROOT LTD | 0.002 | 0 | -50 | $ 5,918,131.00 |
| FGO | FLAMINGO AI LTD | 0.002 | 0 | -91 | $ 2,240,255.50 |
| QTG | Q TECHNOLOGY GROUP LTD | 0.004 | 0 | -80 | $ 600,824.63 |
| CWZ | CASHWERKZ LTD | 0.2 | 0 | -9 | $ 31,976,344.00 |
| IAM | INTIGER GROUP LTD | 0.001 | 0 | -90 | $ 1,677,895.88 |
| AR9 | ARCHTIS LTD | 0.12 | 0 | -13 | $ 16,002,608.00 |
| NVU | NANOVEU LTD | 0.044 | 0 | -78 | $ 5,963,859.00 |
| RCL | READCLOUD LTD | 0.35 | 0 | 16 | $ 32,798,362.00 |
| RFN | REFFIND LTD | 0.005 | 0 | -50 | $ 2,562,000.00 |
| NOV | NOVATTI GROUP LTD | 0.185 | 0 | -14 | $ 30,038,258.00 |
| BIQ | BUILDINGIQ INC-CDI | 0.025 | -39 | -47 | $ 12,447,745.00 |
| LVH | LIVEHIRE LTD | 0.26 | 0 | -35 | $ 77,197,592.00 |
| 9SP | 9 SPOKES INTERNATIONAL LTD | 0.018 | 0 | 14 | $ 18,028,962.00 |
| ODA | ORCODA LTD | 0.225 | 0 | 20 | $ 26,049,248.00 |
| AVA | AVA RISK GROUP LTD | 0.125 | 0 | -46 | $ 25,752,712.00 |
| OTW | OVER THE WIRE HOLDINGS LTD | 4.68 | -1 | -2 | $ 244,618,528.00 |
| ADA | ADACEL TECHNOLOGIES LTD | 0.45 | -1 | -71 | $ 34,312,204.00 |
| ARQ | ARQ GROUP LTD | 0.425 | -1 | -79 | $ 53,737,696.00 |
| 3DP | POINTERRA LTD | 0.056 | -2 | -37 | $ 27,624,824.00 |
| ESK | ETHERSTACK PLC-CDI | 0.255 | -2 | 9 | $ 28,479,754.00 |
| IRI | INTEGRATED RESEARCH LTD | 2.9 | -2 | 39 | $ 493,240,352.00 |
| FZO | FAMILY ZONE CYBER SAFETY LTD | 0.18 | -3 | -46 | $ 38,855,784.00 |
| YOJ | YOJEE LTD | 0.072 | -3 | -20 | $ 61,015,680.00 |
| OPN | OPENDNA LTD | 0.034 | -3 | -3 | $ 9,537,396.00 |
| BCT | BLUECHIIP LTD | 0.16 | -3 | 142 | $ 83,750,088.00 |
| RDY | READYTECH HOLDINGS LTD | 1.865 | -3 | 26 | $ 149,210,016.00 |
| DXN | DXN LTD | 0.057 | -3 | -56 | $ 20,830,124.00 |
| XF1 | XREF LTD | 0.395 | -4 | -25 | $ 66,984,724.00 |
| ADJ | ADSLOT LTD | 0.026 | -4 | -41 | $ 41,288,164.00 |
| AD8 | AUDINATE GROUP LTD | 7.24 | -4 | 106 | $ 485,972,352.00 |
| RCW | RIGHTCROWD LTD | 0.24 | -4 | -27 | $ 47,495,576.00 |
| NUH | NUHEARA LTD | 0.041 | -5 | -32 | $ 44,612,832.00 |
| RXP | RXP SERVICES LTD | 0.505 | -5 | 20 | $ 81,354,080.00 |
| TGO | TRIMANTIUM GROWTHOPS LTD | 0.17 | -6 | -84 | $ 23,622,710.00 |
| 360 | LIFE360 INC-CDI | 3.42 | -6 | -27 | $ 506,233,344.00 |
| K2F | K2FLY LTD | 0.16 | -6 | -40 | $ 12,661,278.00 |
| 8CO | 8COMMON LTD | 0.087 | -6 | 172 | $ 13,605,514.00 |
| BLG | BLUGLASS LTD | 0.13 | -7 | -47 | $ 56,552,456.00 |
| LVE | LOVE GROUP GLOBAL LTD | 0.065 | -7 | -55 | $ 2,634,721.00 |
| IP1 | INTEGRATED PAYMENT TECHNOLOG | 0.013 | -8 | -44 | $ 3,706,083.50 |
| TCN | TECHNICHE LTD | 0.024 | -8 | -37 | $ 5,057,264.00 |
| SLX | SILEX SYSTEMS LTD | 0.41 | -8 | 100 | $ 69,891,608.00 |
| DTZ | DOTZ NANO LTD | 0.04 | -9 | -53 | $ 10,160,434.00 |
| WJA | WAMEJA LTD | 0.11 | -9 | 5 | $ 127,139,320.00 |
| HIL | HILLS LTD | 0.205 | -9 | 11 | $ 47,557,032.00 |
| TNT | TESSERENT LTD | 0.049 | -9 | -34 | $ 12,464,610.00 |
| MNW | MINT PAYMENTS LTD | 0.019 | -10 | -21 | $ 16,392,758.00 |
| SEN | SENETAS CORP LTD | 0.073 | -10 | -22 | $ 78,937,048.00 |
| SNS | SENSEN NETWORKS LTD | 0.095 | -10 | -36 | $ 37,953,688.00 |
| EVS | ENVIROSUITE LTD | 0.295 | -10 | 303 | $ 130,417,864.00 |
| SIS | SIMBLE SOLUTIONS LTD | 0.043 | -10 | -59 | $ 6,065,598.00 |
| CLT | CELLNET GROUP LTD | 0.17 | -11 | -60 | $ 10,641,166.00 |
| BRN | BRAINCHIP HOLDINGS LTD | 0.049 | -11 | -57 | $ 66,162,356.00 |
| CRO | CIRRALTO LTD | 0.007 | -11 | -58 | $ 5,282,061.50 |
| DTS | DRAGONTAIL SYSTEMS LTD | 0.14 | -13 | -53 | $ 34,843,680.00 |
| IHR | INTELLIHR LTD | 0.062 | -13 | -62 | $ 11,059,949.00 |
| IXU | IXUP LTD | 0.082 | 9 | -51 | $ 10,615,731.00 |
| EML | EML PAYMENTS LTD | 4.04 | -13 | 154 | $ 1,016,723,136.00 |
| LNU | LINIUS TECHNOLOGIES LTD | 0.036 | -14 | -42 | $ 44,417,072.00 |
| LVT | LIVETILES LTD | 0.285 | -14 | -24 | $ 233,075,856.00 |
| MYQ | MYFIZIQ LTD | 0.26 | -14 | -41 | $ 22,235,252.00 |
| SE1 | SENSERA LTD | 0.068 | -14 | -28 | $ 21,097,068.00 |
| JXT | JAXSTA LTD | 0.305 | -14 | 50 | $ 69,531,568.00 |
| PRZ | PARAZERO LTD | 0.06 | -14 | -50 | $ 7,023,325.50 |
| BUD | BUDDY TECHNOLOGIES LTD | 0.017 | -14 | -84 | $ 42,600,864.00 |
| CGL | CITADEL GROUP LTD/THE | 2.98 | -15 | -63 | $ 150,383,840.00 |
| 4DS | 4DS MEMORY LTD | 0.059 | -16 | 9 | $ 65,991,988.00 |
| ELS | ELSIGHT LTD | 0.39 | -16 | -33 | $ 37,534,612.00 |
| TYM | TYMLEZ GROUP LTD | 0.046 | -16 | -79 | $ 6,017,028.50 |
| NET | NETLINKZ LTD | 0.165 | -17 | 384 | $ 257,231,824.00 |
| FCT | FIRSTWAVE CLOUD TECHNOLOGY L | 0.15 | -17 | -27 | $ 47,323,392.00 |
| HSC | HOMESTAY CARE LTD | 0.005 | -17 | -84 | $ 3,996,246.00 |
| APT | AFTERPAY TOUCH GROUP LTD | 28.69 | -17 | 126 | $ 7,137,020,416.00 |
| MPW | MSL SOLUTIONS LTD | 0.078 | -18 | -59 | $ 19,487,548.00 |
| GSW | GETSWIFT LTD | 0.58 | -18 | 9 | $ 107,473,104.00 |
| DUB | DUBBER CORP LTD | 1.28 | -20 | 191 | $ 236,994,320.00 |
| KYK | KYCKR LTD | 0.17 | -20 | 79 | $ 40,130,132.00 |
| DTI | DTI GROUP LTD | 0.023 | -21 | -63 | $ 7,704,461.00 |
| FAM | FAMILY INSIGHTS GROUP LTD | 0.072 | -21 | -42 | $ 3,600,000.00 |
| VOR | VORTIV LTD | 0.012 | -21 | 83 | $ 29,591,702.00 |
| CIO | CONNECTED IO LTD | 0.003 | -25 | 0 | $ 5,473,440.00 |
| TTL | TRANSCENDENCE TECHNOLOGIES L | 0.008 | -27 | -53 | $ 1,389,765.38 |
| IS3 | I SYNERGY GROUP LIMITED | 0.17 | -29 | 28 | $ 31,155,574.00 |
| XPE | XPED LTD | 0.001 | -33 | -67 | $ 1,506,830.75 |
| OLV | OTHERLEVELS HOLDINGS LIMITED | 0.005 | -38 | -83 | $ 1,434,207.00 |
Some tech stocks’ investors have been ringing alarm bells. The most notable was one of Australia’s tech darlings logistics software stock WiseTech (ASX:WTC) which was attacked a short sellers.
It has not collapsed like WeWork but shed $2 billion of its market cap in a week.
Another stock was energy intelligence company BuildingIQ (ASX:BIQ) which fell after a quarterly left investors frightened it was short on cash.
But other stocks had positive news this quarterly season. Registry Direct (ASX:RD1) led the gainers up 60 per cent in the last fortnight. It gained 44 new fee-paying clients.
After an average start to listed life, communications software stock Whispir (ASX:WSP) has had a good fortnight since its own quarterly. It made $34.5 million in Annualised Recurring Revenue (ARR), up 10 per cent from last quarter and ahead of its prospectus.
Online screening company CV Check (ASX:CV1) is up 23 per cent in the last 2 weeks. It made record revenue and ARR of $9.6 million.
And then there’s IT services business CSG (ASX:CSV), which received a takeover offer from Fuji Xerox. The share price jumped 30 per cent last week and it has held its ground since.
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