Sectors: Technology
EML -22.18%: further pain for the payment card technology business after it announced issues with its remediation program on the back of Anti-money laundering concerns from the Central Bank of Ireland that was announced last year. Issues with the remediation plans have been brought to the company’s attention and works are now expected to continue into 2023 to resolve the issue. The subsidiary in question…
Lastly, XRO where we again hold a 7% position which we are looking to trim back towards 5% with the $100 area still our optimum target area which is realistic for this extremely volatile stock.
MM is holding a 5% position in ALU today which is showing a small profit but at the moment we can see the upside momentum take this oversold stock back towards $35 i.e. we are more likely to be patient here.
ZIP +16.54%: shares in Zip surged to 6-week highs today after showing signs of improvement at the 4th quarter update. We hosted co-founder Peter Gray today who was keen to talk up the turnaround in the business which saw revenue grow 27% year on year, and transaction volume growth of 20%. Margins remained more or less stable in the final quarter and while the loss rate fell in…
Google as it’s more commonly referred to has corrected 33% from its 2021 high in a very similar manner to Apple Inc i.e. same sector quality stocks moving as one.
Following its 29% correction, we believe value has been restored to this top-quality operator which can be considered as both a tech growth stock and a defensive play due to its huge cashflow and phenomenal balance sheet e.g. in April the board authorized $US90bn in buybacks. The company remains vulnerable to supply chain issues and China’s lockdown tendency…
MP1 +23.03%: the network connectivity business was out with their 4th quarter update today with the company’s performance bouncing back after a slow start to the year. Revenue in the final 3 months was up 10% on the third quarter, adding 533 new ports and posting a positive EBITDA in the quarter for the first time. After only growing monthly recurring revenue (MRR) by $300k in the…
The Trade Desk (TTD US) has been a solid performer for the portfolio and despite a ~40% decline over the past year, the position is still showing a healthy ~20% paper profit – not many of those at the moment across high-value tech! Overnight the global advertising technology company announced a very interesting deal with Disney making it possible for brands…
EML -24.61%: a difficult day for the pre-paid card company after their CEO resigned. There was little explanation given for Tom Cregan’s abrupt departure other than the decision being made by mutual agreement. The role has been filled with EML board member Emma Shand taking on the MD & CEO role. Shand comes highly regarded and will hit the ground running given she has spent the last 10 months as a director. Despite that, the shuffle…
ZIP -5.22%: UBS cut their price target for the BNPL stock in half yesterday which put pressure on the stock today. The analyst talked to higher bad debts and the strategies put in place to limit the issue potentially doing the opposite. While bad debts in the retail arms of banks are decreasing, BNPL has been experiencing the opposite. In an economic downturn, this is likely to accelerate further at the same time capital dries up causing added problems for the smaller lenders.
