Hi Josh,
We feel 2022 has already shown its hand, its going to a volatile and unforgiving year for stocks that are not making money and trading on very high multiples of revenue that have any type of slip up. We therefore have an overall bias towards the higher quality end of town even if the potential upside is likely to be less, the likes of Xero (XRO), Altium (ALU), Aristocrat (ALL) and Audinate (AD8) fit this bill, however some of the stocks you mentioned above will have big moves if sentiment changes in the space – that is where the highest risk and greatest potential reward will be found.
Broadly, we would stay away from companies potentially needing to raise equity which we felt was a possibility for Whisper (WSP) which we sold out of. We like Dubber (DUB) and see deep value there however the share price has been terrible, Wisr (WSR) is in a very competitive space (consumer finance) and their funding is become more expensive given the hike in rates – we are not fans of WSR. Tyro (TYR) is a stock we own and we think it should trade higher, however thinking longer term, that market (payment terminals) has also become a lot more competitive & TYR has dropped the ball in terms of execution. Life 360 (360) is another worth consideration given it’s sharp recent declines versus its growth profile while some value is starting to show in Megaport (MP1).
