Tech Talk: here’s what’s happening with 200 ASX small cap tech stocks
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Stockhead is introducing regular wraps of news from the hottest ASX small cap themes.
Today we’re adding a fortnightly look at the ASX’s 200-odd small cap tech stocks.
Perhaps the broadest subject we cover here at Stockhead, the tech sector includes everything from artificial intelligence to blockchain to SaaS to drones to gamers to Internet of Things to wearables and more.
There are around 200 small cap tech stocks listed on the ASX. (We include here anything up to $400 million market cap — so you won’t find the likes of REA Group, Seek, MYOB, Xero or Afterpay).
>> Scroll down for a table of 200 emerging ASX tech stocks and their recent performance
Over the past fortnight only 48 have made share price gains, compared with 119 that have witnessed falls and 31 which were flat.
On average emerging ASX tech stocks are down just over 4 per cent since the start of September.
Data analyser Invigor Group (ASX:IVO) is one of the biggest recent movers after announcing yesterday that its loyalty solution would be integrated into WeChat, a hugely popular Chinese social media and payments service.
Invigor’s share price rocketed 133 per cent to 0.7c on the back of that news. That was welcome news for investors, who have witnessed a slide since its year-high peak of 1.7c at the onset of 2018. A Commsec analysis once said “investors see little opportunity in owning this stock at this time”.
Cellnet Group (ASX:CLT) has been a strong performer, rising 46 per cent to 52c yesterday. The $33 million company told investors earlier this month that it had acquired Turn Left, a gaming software provider, for $6 million.
Smart care software maker Connexion Media (ASX:CXZ) has risen 40 per cent over the period, and was also trading at 0.7c today. Earlier this month the company said it received subscriptions for 110 million new shares and raised up to $658,000 in a placement.
Spookfish (ASX:SFI) is an aerial photographer whose technology is of such interest that a United States-based peer, EagleView, recently increased its takeover offer.
Shares in Spookfish have risen 13 per cent in the past few weeks, hitting 8.6c yesterday.
Though official documentation has yet to be released, Spookfish has recommended shareholders vote in favour of the offer, which originally valued the company at $122 million.
MGM Wireless (ASX:MWR), which is the maker of an internet-disabled smart watch that can help parents keep track of their kids, has seen an eight per cent rise in share price.
The watch, called Spacetalk, allows two-way mobile communication and GPS tracking between parents and children without access to social media apps or unrestricted internet access.
Of the companies on the wrong end of the ledger, Reverse Corp (ASX:REF) took the biggest hit, its shares down 69 per cent to just 3c after it lost a deal with Telstra.
In simple terms, if you’ve ever used 1800-Reverse from a Telstra mobile, prepare yourself for that to be impossible going forward.
Meanwhile, shares in blockchain tech company DigitalX (ASX:DCC) lost 20 per cent of their value, dropping to 10c.
DigitalX puts out a monthly report about blockchain, and the August edition revealed the company’s digital asset portfolio was down 11.8 per cent.
Here’s a table of 200 emerging ASX tech stocks and their recent performance:
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