Reboot: It’s 2020, so is this the year we get robots and flying cars?
Link copied to
Here it is – your fortnightly tech stocks wrap.
These days predictions about future technologies are generally more short-term focused. Often they already exist and are being developed, like quantum computing and AI.
But during the 20th century, countless movies and TV shows such as Sealab2020 in 1972, offered up the idea that things like flying cars and robots would emerge this year and decade. And they might just have been spot on.
This week, the industry has converged on Las Vegas for the Consumer Electronics Show. Some of the highlights are existing technologies with new or more precise functionalities, such as smart speakers which can now mimic specific people, and foldable smart phones.
But of course flying cars and robots were showcased too…and not just on the convention floor.
— Ed Ludlow (@EdLudlow) January 6, 2020
One ASX small cap present in Vegas was Buddy Technologies (ASX:BUD), which unveiled a new range of smart lights.
Last year was a great year for tech small caps – the average performance was a gain of 19 per cent. The best performer was easily accounts receivable software IODM (ASX:IOD), which ran up 567 per cent.
The last fortnight saw a fresh set of winners. Leading the pack was HR-tech software Intellihr (ASX:IHR) basking in the success of a capital raise just in time for Christmas. Unlike many other capital raises, this one was done at a premium.
The ASX’s only restaurant-tech play Dragontail Systems (ASX:DTS) surged after telling shareholders it had processed over 10 times more orders in December 2019 than December 2018.
And one stock that saw a hot run in 2018 but retreated in 2019, BidEnergy (ASX:BID), went on a run despite having no news this week. The company helps households and companies manage their energy bills.
Elsewhere in the market, Sezzle (ASX:SZL) was hit after fears it would not be granted a lending licence in California. In its most recent update to shareholders, it said it was meeting with authorities and was confident it would win one.
Among the companies that made their ASX debut last month, Nitro Software (ASX:NTO) is currently trading 7 per cent lower but MoneyMe (ASX:MME) is up 14 per cent.
This expert reckons Australia’s tech story has further to run in 2020
5 tech trends we’ll see more of in 2020 & the small caps that are front and centre
Data centres: Who’s building them locally and are they responding to environmental concerns?
Bitcoin is set for another good year, but will there be any crypto players left on the ASX?