Reboot: Virus-fighting robot tanks are now disinfecting Chinese cities
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Here it is – your fortnightly ASX tech stocks wrap.
No sector seems to have escaped the coronavirus outbreak and the tech sector is no exemption – although there are few bright spots.
Most news out of the tech sector in recent weeks has been about big companies cancelling conferences, travel, and even making employees work from home.
But in China, where the outbreak began, the tech sector is trying to help find a solution. Conglomerates Tencent and Didi, for example, have opened up computing and server facilities to medical and aid organisations for free.
Food delivery by robots is occurring too, led by JD and Meituan Dianping.
Arguably the most important are these robot tanks, deployed to disinfect public spaces. The biggest can carry 200 kilograms of disinfectant and has a remote control range of 1km.
— Evan Kirstel (@evankirstel) February 29, 2020
Two weeks ago we reported ASX tech stocks had gained 16 per cent in the last 12 months.
Last fortnight’s losses of 14 per cent have shifted that 12 month gain into a 5 per cent loss. Only ten ASX small caps gained ground in the last two weeks.
Here are all the ASX small cap technology stocks and their performance in the past fortnight:
Swipe or scroll to reveal the full table. Click headings to sort
But there were a few bright spots. Two of this week’s gainers took part in major transactions – indicating life is going on as normal for now.
Chant West (ASX:CWL) has continued climbing after announcing it will sell its superannuation research and consultancy business for $12 million.
Energy focused Software as a Service (SaaS) Simble Solutions (ASX:SIS) likewise kept rising after gaining a new client. European company Sylvania Lighting will embed its platform into projects across Europe.
While the list of substantial gainers got shorter on a yearly basis, there were still a handful sitting on big gains. Accounts receivable solution IODM (ASX:IOD) remained the biggest winner sitting on a 420 per cent increase.
Two other stocks have quadrupled in 12 months – CCP Technologies (ASX:CT1), which makes medical devices resistant to extreme temperatures, and remote communications play Smart Marine Systems (ASX:SM8).