Reboot: The best techs are fintechs…with major endorsements
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In the last fortnight the majority of best performing tech small caps have been fintechs who have received endorsements from major players.
The best was Change Financial (ASX: CCA) which had a horror 2018 as its digital banking app did not work out as planned. It spent most of this year building a Mastercard payment processing platform and completed it on Monday. Change shares gained 178 per cent in the last fortnight.
Two weeks have passed since WiseTech founder Richard White bought into KYC platform Kyckr (ASX: KYK) and investors have continued to follow him in.
FinTech Chain (ASX: FTC) and IODM (ASX: IOD) have been running hot all year and continued to do so in the last fortnight. IODM revealed it was Western Digital that had been responsible for referrals which had boosted its revenue.
FinTech Chain had nothing new in the last fortnight although shareholders would be aware of the company’s rapid expansion into China.
Among the non-fintechs the biggest winner was software stock Schrole Group (ASX: SCL) up more than 60 per cent in the last fortnight. It had record quarterly revenue and a positive research report written by Capital H Management.
The semiconductor had been doing it tough for a number of months, but 4DS Memory (ASX: 4DS) took itself to the next level yesterday. After its latest wafer test, IMEC agreed to integrate its memory technology into its own.
Also performing was tracking and verification solutions stock Dotz Nano (ASX: DTZ) which last month proved its technology in cannabis leaves.
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
Five tech stocks have tripled in the last twelve months with IODM leading the pack by miles. Virtual networking technology provider Netlinkz (ASX: NET) retreated in the last fortnight but still sits on a 12 month gain of 400 per cent.
Environmental technology provider EnviroSuite (ASX: EVS) is next. It announced last month it is entering China and anticipates it to be a strong market because of local environmental problems which the government is trying to solve.
It also welcomed a Chinese investor, Zhigang Zhang, who had 30 years experience in the industry. He put $4 million into the company.
Rounding out the list is cloud based call recording software provider Dubber (ASX: DUB) as well as Change Financial.