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Reboot: Tech stocks can’t escape market hammering despite some being more in demand now than ever
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Shareholders are selling everything but COVID-19 connected stocks. And tech companies are starting to become the latest beneficiaries, with many saying they haven’t seen a drop-off in demand and others saying they are witnessing greater demand for their services.
Joel Camissar, a regional director at cyber security firm McAfee, told Stockhead cyber security was more important than ever now that many employees are working remotely.
He believes the broader infrastructure-as-a-service (IaaS) market will be $74.1bn by 2022.
Small cap spotlight
But despite the increased demand for tech services, over the last fortnight the sector has lost 27 per cent. On a yearly basis it has retreated by 33 per cent.
Here are all the ASX small cap tech stocks and their performance in the past fortnight:
Swipe or scroll to reveal the full table. Click headings to sort
| Code | Name | Price (I) | 2 Week Return | 1 Year Return | Market Cap |
|---|---|---|---|---|---|
| FGO | FLAMINGO AI LTD | 0.0015 | 50 | -81 | $ 1,680,191.50 |
| ESK | ETHERSTACK PLC-CDI | 0.2 | 8 | -26 | $ 22,698,352.00 |
| RCL | READCLOUD LTD | 0.32 | 3 | 23 | $ 31,329,778.00 |
| TCN | TECHNICHE LTD | 0.036 | 3 | 6 | $ 7,585,896.00 |
| HWH | HOUSTON WE HAVE LTD | 0.02 | 0 | -87 | $ 5,155,154.50 |
| QFY | QUANTIFY TECHNOLOGY HOLDINGS | 0.002 | 0 | -75 | $ 3,885,099.50 |
| SYT | SYNTONIC LTD | 0.001 | 0 | -88 | $ 6,944,565.50 |
| DTI | DTI GROUP LTD | 0.02 | 0 | -52 | $ 6,699,531.00 |
| CSV | CSG LTD | 0.3075 | 0 | 98 | |
| CWL | CHANT WEST HOLDINGS LTD | 0.1 | 0 | 72 | $ 12,682,780.00 |
| XPE | XPED LTD | 0.001 | 0 | -50 | $ 1,756,830.75 |
| HSC | HOMESTAY CARE LTD | 0.004 | 0 | -81 | $ 6,701,545.50 |
| AO1 | ASSETOWL LTD | 0.005 | 0 | -23 | $ 1,506,104.00 |
| NVU | NANOVEU LTD | 0.037 | 0 | -61 | $ 4,903,617.50 |
| IAM | INTIGER GROUP LTD | 0.001 | 0 | -80 | $ 1,677,895.88 |
| RFN | REFFIND LTD | 0.0025 | 0 | -58 | $ 2,558,146.50 |
| CIO | CONNECTED IO LTD | 0.002 | 0 | -20 | $ 4,815,164.00 |
| ID8 | IDENTITII LTD | -2 | -54 | $ 16,083,046.00 | |
| LVE | LOVE GROUP GLOBAL LTD | 0.041 | -2 | -66 | $ 1,661,900.88 |
| FTC | FINTECH CHAIN LTD | 0.075 | -5 | 92 | $ 48,807,720.00 |
| SP3 | SPECTUR LTD | 0.07 | -7 | -46 | $ 5,294,314.50 |
| VR1 | VECTION TECHNOLOGIES LTD | 0.018 | -10 | -5 | $ 11,829,090.00 |
| DSE | DROPSUITE LTD | 0.036 | -10 | 6 | $ 20,232,294.00 |
| SEN | SENETAS CORP LTD | 0.044 | -10 | -33 | $ 47,610,164.00 |
| TZL | TZ LTD | 0.06 | -12 | -76 | $ 5,503,536.50 |
| DTS | DRAGONTAIL SYSTEMS LTD | 0.086 | -12 | -57 | $ 21,403,974.00 |
| CLT | CELLNET GROUP LTD | 0.14 | -13 | -42 | $ 8,763,313.00 |
| ELS | ELSIGHT LTD | 0.27 | -13 | -43 | $ 28,415,502.00 |
| AVA | AVA RISK GROUP LTD | 0.1 | -13 | -29 | $ 23,411,556.00 |
| XF1 | XREF LTD | 0.18 | -14 | -67 | $ 32,050,036.00 |
| SRH | SAFEROADS HOLDINGS LTD | 0.15 | -14 | -56 | $ 5,460,000.00 |
| RCW | RIGHTCROWD LTD | 0.22 | -15 | -33 | $ 43,843,164.00 |
| JAN | JANISON EDUCATION GROUP LTD | 0.34 | -15 | -8 | $ 61,761,952.00 |
| K2F | K2FLY LTD | 0.165 | -15 | 38 | $ 13,689,938.00 |
| JCS | JCURVE SOLUTIONS LTD | 0.027 | -16 | 0 | $ 8,852,136.00 |
| CXZ | CONNEXION TELEMATICS LTD | 0.016 | -16 | 45 | $ 13,810,642.00 |
| RHP | RHIPE LTD | 1.47 | -16 | -17 | $ 205,969,552.00 |
| KYK | KYCKR LTD | 0.05 | -17 | 0 | $ 11,735,306.00 |
| EPD | EMPIRED LTD | 0.3 | -17 | -29 | $ 47,977,224.00 |
| UBN | URBANISE.COM LTD | 0.04 | -17 | 8 | $ 29,509,908.00 |
| CV1 | CV CHECK LTD | 0.075 | -18 | 1 | $ 21,914,826.00 |
| PYG | PAYGROUP LTD | 0.57 | -18 | -21 | $ 39,269,584.00 |
| WSP | WHISPIR LTD | 0.98 | -18 | $ 101,659,656.00 | |
| HYD | HYDRIX LTD | 0.13 | -19 | -32 | $ 10,350,894.00 |
| DTZ | DOTZ NANO LTD | 0.045 | -20 | -48 | $ 13,313,351.00 |
| WBT | WEEBIT NANO LTD | 0.28 | -20 | -25 | $ 20,303,566.00 |
| BCC | BEAM COMMUNICATIONS HOLDINGS | 0.2 | -20 | 18 | $ 10,574,690.00 |
| ODA | ORCODA LTD | 0.16 | -20 | 45 | $ 18,566,166.00 |
| RLG | ROOLIFE GROUP LTD | 0.019 | -21 | -66 | $ 6,471,804.50 |
| SM8 | SMART MARINE SYSTEMS LTD | 0.072 | -21 | 190 | $ 24,152,090.00 |
| TGO | TRIMANTIUM GROWTHOPS LTD | 0.079 | -21 | -84 | $ 10,977,613.00 |
| 3DP | POINTERRA LTD | 0.026 | -21 | -32 | $ 14,851,801.00 |
| RKN | RECKON LTD | 0.55 | -21 | -9 | $ 62,312,156.00 |
| OPL | OPYL LTD | 0.068 | -22 | -55 | $ 2,012,256.13 |
| QFE | QUICKFEE LTD | 0.19 | -22 | $ 28,975,086.00 | |
| RUL | RPMGLOBAL HOLDINGS LTD | 0.75 | -23 | 36 | $ 168,016,512.00 |
| FZO | FAMILY ZONE CYBER SAFETY LTD | 0.085 | -23 | -56 | $ 20,483,570.00 |
| SLX | SILEX SYSTEMS LTD | 0.235 | -23 | -13 | $ 40,600,324.00 |
| IS3 | I SYNERGY GROUP LIMITED | 0.1 | -23 | -53 | $ 18,326,808.00 |
| MPW | MSL SOLUTIONS LTD | 0.05 | -23 | -55 | $ 16,112,908.00 |
| CGO | CPT GLOBAL LIMITED | 0.215 | -23 | 25 | $ 8,232,146.00 |
| VLT | VAULT INTELLIGENCE LTD | 0.13 | -24 | -19 | $ 16,639,613.00 |
| NVX | NOVONIX LTD | 0.265 | -24 | -58 | $ 34,641,180.00 |
| DWS | DWS LTD | 0.69 | -25 | -34 | $ 90,963,616.00 |
| SF1 | STEMIFY LTD | 0.015 | -25 | -92 | $ 2,354,586.50 |
| SMX | SECURITY MATTERS LTD | 0.28 | -25 | -48 | $ 34,915,224.00 |
| ISD | ISENTIA GROUP LTD | 0.16 | -26 | -26 | $ 32,000,000.00 |
| DTC | DAMSTRA HOLDINGS LTD | 0.77 | -26 | -45 | $ 107,401,576.00 |
| AR9 | ARCHTIS LTD | 0.06 | -26 | -40 | $ 7,385,819.00 |
| EOL | ENERGY ONE LTD | 2.25 | -26 | 81 | $ 49,966,448.00 |
| RDF | REDFLEX HOLDINGS LTD | 0.42 | -26 | -24 | $ 63,437,900.00 |
| COO | CORUM GROUP LTD | 0.05 | -26 | 85 | $ 20,128,380.00 |
| PVS | PIVOTAL SYSTEMS CORP INC-CDI | 1.11 | -26 | -26 | $ 126,089,688.00 |
| 360 | LIFE360 INC-CDI | 1.96 | -27 | $ 287,090,976.00 | |
| CAG | CAPE RANGE LTD | 0.325 | -28 | -73 | $ 27,188,948.00 |
| SIS | SIMBLE SOLUTIONS LTD | 0.01 | -29 | -88 | $ 1,693,444.13 |
| SCL | SCHROLE GROUP LTD | 0.01 | -29 | -9 | $ 8,924,797.00 |
| RDY | READYTECH HOLDINGS LTD | 1.2 | -29 | $ 96,006,440.00 | |
| SPZ | SMART PARKING LTD | 0.12 | -29 | 0 | $ 43,105,844.00 |
| APV | APPSVILLAGE AUSTRALIA LTD | 0.13 | -30 | $ 9,965,639.00 | |
| LVH | LIVEHIRE LTD | 0.14 | -30 | -79 | $ 42,332,988.00 |
| PPS | PRAEMIUM LTD | 0.24 | -30 | -58 | $ 98,032,168.00 |
| DXN | DXN LTD | 0.027 | -31 | -53 | $ 12,299,115.00 |
| OTW | OVER THE WIRE HOLDINGS LTD | 2.25 | -31 | -55 | $ 116,189,848.00 |
| BCT | BLUECHIIP LTD | 0.063 | -32 | -32 | $ 37,362,000.00 |
| 9SP | 9 SPOKES INTERNATIONAL LTD | 0.013 | -32 | -64 | $ 15,802,273.00 |
| CCG | COMMSCHOICE GROUP LTD | 0.041 | -32 | -59 | $ 7,847,082.50 |
| CNW | CIRRUS NETWORKS HOLDINGS LTD | 0.017 | -32 | -60 | $ 15,017,530.00 |
| NET | NETLINKZ LTD | 0.046 | -32 | 59 | $ 92,496,760.00 |
| SE1 | SENSERA LTD | 0.006 | -33 | -95 | $ 1,932,750.38 |
| VOR | VORTIV LTD | 0.004 | -33 | -50 | $ 11,156,721.00 |
| IP1 | INTEGRATED PAYMENT TECHNOLOG | 0.004 | -33 | -81 | $ 1,235,361.25 |
| HIL | HILLS LTD | 0.2 | -33 | 18 | $ 46,397,104.00 |
| JXT | JAXSTA LTD | 0.05 | -33 | -77 | $ 12,359,516.00 |
| MYQ | MYFIZIQ LTD | 0.12 | -33 | -60 | $ 13,012,319.00 |
| TNT | TESSERENT LTD | 0.043 | -34 | -31 | $ 20,020,242.00 |
| ADA | ADACEL TECHNOLOGIES LTD | 0.4 | -34 | -50 | $ 30,499,736.00 |
| TYM | TYMLEZ GROUP LTD | 0.021 | -34 | -92 | $ 3,103,456.75 |
| MOQ | MOQ LTD | 0.15 | -35 | -12 | $ 26,619,546.00 |
| TBL | TAMBLA LTD | 0.24 | -35 | -40 | $ 4,753,515.00 |
| LNU | LINIUS TECHNOLOGIES LTD | 0.011 | -35 | -76 | $ 12,963,623.00 |
| ELO | ELMO SOFTWARE LTD | 4.8 | -35 | -16 | $ 361,097,824.00 |
| RXP | RXP SERVICES LTD | 0.24 | -36 | -46 | $ 38,663,324.00 |
| 8CO | 8COMMON LTD | 0.048 | -36 | 12 | $ 8,780,022.00 |
| BIQ | BUILDINGIQ INC-CDI | 0.007 | -36 | -84 | $ 2,615,710.75 |
| KNO | KNOSYS LTD | 0.04 | -37 | -25 | $ 5,953,423.00 |
| BRN | BRAINCHIP HOLDINGS LTD | 0.031 | -37 | -45 | $ 41,458,644.00 |
| FCT | FIRSTWAVE CLOUD TECHNOLOGY L | 0.098 | -37 | -70 | $ 30,971,590.00 |
| AMO | AMBERTECH LTD | 0.055 | -37 | -54 | $ 4,205,024.50 |
| MOB | MOBILICOM LTD/AUSTRALIA | 0.055 | -37 | -32 | $ 14,186,519.00 |
| BID | BIDENERGY LTD | 0.48 | -38 | -51 | $ 62,744,380.00 |
| SNS | SENSEN NETWORKS LTD | 0.068 | -38 | -35 | $ 30,412,054.00 |
| CL1 | CLASS LTD | 0.97 | -38 | -39 | $ 119,075,656.00 |
| IOD | IODM LTD | 0.08 | -38 | 150 | $ 44,211,112.00 |
| NOR | NORWOOD SYSTEMS LTD | 0.026 | -40 | -13 | $ 5,938,619.50 |
| 4DS | 4DS MEMORY LTD | 0.032 | -40 | -56 | $ 36,449,424.00 |
| CRO | CIRRALTO LTD | 0.003 | -40 | -67 | $ 2,470,080.25 |
| PRZ | PARAZERO LTD | -40 | -66 | $ 4,581,915.50 | |
| GSW | GETSWIFT LTD | 0.295 | -40 | 55 | $ 55,622,048.00 |
| IXU | IXUP LTD | 0.03 | -41 | -70 | $ 6,678,921.00 |
| WZR | WISR LTD | 0.088 | -41 | 17 | $ 84,950,184.00 |
| WJA | WAMEJA LTD | 0.07 | -42 | -42 | $ 84,759,544.00 |
| CCA | CHANGE FINANCIAL LTD | 0.07 | -42 | 27 | $ 7,199,054.00 |
| MME | MONEYME LTD | 0.88 | -42 | $ 149,107,200.00 | |
| SMN | STRUCTURAL MONITORING-CDI | 0.37 | -42 | -58 | $ 43,095,020.00 |
| NOV | NOVATTI GROUP LTD | 0.1 | -43 | -58 | $ 16,731,731.00 |
| KTE | K2 ENERGY LTD | 0.004 | -43 | -43 | $ 1,202,628.63 |
| MNW | MINT PAYMENTS LTD | 0.008 | -43 | -65 | $ 7,283,840.50 |
| IHR | INTELLIHR LTD | 0.04 | -43 | -64 | $ 7,736,313.00 |
| SBW | SHEKEL BRAINWEIGH LTD | 0.09 | -44 | -61 | $ 12,510,000.00 |
| SPT | SPLITIT PAYMENTS LTD | 0.275 | -44 | -81 | $ 85,671,616.00 |
| NUH | NUHEARA LTD | 0.014 | -44 | -79 | $ 15,150,944.00 |
| BLG | BLUGLASS LTD | 0.033 | -44 | -83 | $ 13,823,933.00 |
| OLV | OTHERLEVELS HOLDINGS LIMITED | 0.005 | -44 | -72 | $ 1,417,672.75 |
| EVS | ENVIROSUITE LTD | 0.083 | -45 | -51 | $ 84,513,344.00 |
| DUB | DUBBER CORP LTD | 0.525 | -45 | -43 | $ 100,401,240.00 |
| NTO | NITRO SOFTWARE LTD | 0.88 | -46 | $ 166,257,520.00 | |
| CT1 | CCP TECHNOLOGIES LTD | 0.015 | -46 | 93 | $ 17,062,756.00 |
| ARQ | ARQ GROUP LTD | 0.08 | -48 | -96 | $ 9,770,490.00 |
| CAT | CATAPULT GROUP INTERNATIONAL | 0.66 | -49 | -20 | $ 125,990,776.00 |
| PRO | PROPHECY INTERNATIONAL HLDGS | 0.39 | -49 | 60 | $ 24,963,816.00 |
| DCC | DIGITALX LTD | 0.012 | -50 | -76 | $ 7,267,542.50 |
| ADJ | ADSLOT LTD | 0.01 | -50 | -74 | $ 18,440,062.00 |
| SKF | SKYFII LTD | 0.079 | -51 | -56 | $ 27,142,536.00 |
| MNY | MONEY3 CORP LTD | 1.21 | -51 | -35 | $ 223,948,608.00 |
| CPT | CIPHERPOINT LTD | 0.028 | -52 | -91 | $ 1,099,857.63 |
| LVT | LIVETILES LTD | 0.12 | -52 | -72 | $ 108,266,872.00 |
| BTH | BIGTINCAN HOLDINGS LTD | 0.365 | -53 | -15 | $ 112,822,784.00 |
| YOJ | YOJEE LTD | 0.017 | -53 | -79 | $ 16,716,835.00 |
| SZL | SEZZLE INC-CDI | 0.7 | -53 | $ 139,234,592.00 | |
| PGL | PROSPA GROUP LTD | 0.75 | -59 | $ 121,012,824.00 | |
| CGL | CITADEL GROUP LTD/THE | 1.55 | -60 | -79 | $ 87,890,792.00 |
| BUD | BUDDY TECHNOLOGIES LTD | 0.008 | -67 | -90 | $ 19,060,064.00 |
One substantial gainer was AI play Flamingo AI (ASX:FGO), which is up 50 per cent in the past two weeks.
Another winner is edtech Readcloud (ASX:RCL). The company has a platform for e-textbooks and while it has not commented specifically on the coronavirus situation, it previously said it expected growth this year.
Some stocks had major news in the last fortnight but were unable to escape the downward drag of the market.
Despite Italy going into lockdown, virtual reality player Vection Technologies (ASX:VR1), which counts the European country as a major market, said it was pretty much business as usual.
Managing director Gianmarco Biagi said virtual reality could help in these challenging times where firms had no other choice but to operate remotely.
“We believe that the use of real-time technologies such as virtual and augmented reality have the potential to ensure collaboration between people staying at home,” he said.
De.Mem (ASX:DEM) witnessed solid growth last year in demand for its water filtration tech and now it’s getting into hand sanitisers using the very same technology.
One particularly hit sub-sector are credit providers, from SME lenders to buy now, pay later stocks. It has been speculated that the crisis will lead to slower growth in new customers and an increase in bad debt from existing customers.
Personal lender Wisr (ASX:WZR) has dropped over 80 per cent but it says its loan book is still rising.
Even former market darling Afterpay (ASX:APT) has plunged by over 75 per cent. But yesterday CEO Anthony Eisen wrote to shareholders reminding them of the company’s liquidity position and reassuring them that Afterpay is well positioned to manage any losses well before they become a threat to the company.
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