Tech Talk: here are the best performing ASX technology stocks
Will Smith in the film I, Robot (2004)
Today we’re taking our fortnightly look at the ASX’s 230-odd tech stocks.
It’s been a fairly stable few weeks among ASX tech stocks. A total of 85 companies have seen modest to big rises in their share price, 110 have lost value and 36 were flat. On an unweighted average, ASX tech stock shares have risen 0.6 per cent over the past two weeks.
Perhaps the biggest news among the tech crew was the revelation that blockchain consultant DigitalX (ASX:DCC) was being sued by a consortium of initial coin offering (ICO) investors.
The applicants are seeking $2.5 million plus damages, alleging misleading or deceptive conduct under consumer protection law.
But DigitalX has hit back, announcing to the ASX that it denies any wrongdoing and will vigorously defend the claim.
Decimal Software (ASX:DSX) has been the biggest mover in the sector, rising 63 per cent to 1.3c after news it would be bought out by Sargon Capital.
Sargon will acquire all of Decimal’s issued shares for 1.41c, hence the big rise.
Decimal chairman Mark Potts said the board unanimously recommended shareholders vote in favour of the scheme.
Invigor Group (ASX:IVO) rose 50 per cent over the fortnight to 0.6c after it told investors its loyalty solution would be integrated into WeChat, the hugely popular Chinese social media and payments service.
The integration is part of a three-year deal signed with Winning Group, a partner of Tencent, a large Chinese company.
Body measurement tech company MyFiziq (ASX:MYQ) is up 44 per cent to 36c — and a whopping 555 per cent in the last 12 months — with news that it is winning over major global brands and celebrities.
Even the much-maligned SaaS tech company GetSwift (ASX:GSW) has enjoyed a buoyant fortnight, with its shares rising 27 per cent.
During the period the company nabbed a former IBM exec to be its new chief technical officer.
The appointment comes as the tech play has been defending itself against class actions along with queries by the ASX and the corporate watchdog.
New appointment Dennis Noto was the executive architect of Watson Cognitive Enterprise Solutions at IBM since February 2016. He was responsible for advising C-suite executives at Fortune 500 companies on AI and leading IBM’s AI technology.
Here’s a table of 200 emerging ASX tech stocks and their recent performance:
Swipe or scroll for to reveal full table. Click headings to sort