Tech investors hold their breath

Dotcom investors are gripping their stock charts for another frenetic ride today after local tech companies were hammered yesterday when the Nasdaq plummeted as much as 13 per cent on Tuesday night.

However, offering investors some promise, the ASX opened on a positive note this morning with slight rises in many of the tech stocks that suffered yesterday and dragged the new ASX All Ordinaries down 25.7 points to 3137.8 at last night's close.

BMC Media, which fell more than 30 per cent to $2.77 yesterday, was up to $2.85, while web advertising counterpart eMitch was up 10 cents to $1.34 in early morning trade today.

Also recovering this morning were software developer Technology One, services company Kaz Computer Systems, and online music stores Sanity.com and ChaosMusic - all slightly up on last night's close.

Software developer Sausage Software rose $0.25 this morning to $4.85, while Solution 6 was up $0.45 cents to $8.75 in early trading.

Malcolm Turnbull's ecommerce investment vehicle FTR also rose this morning to $0.83, after reaching a high of around $1.15 last week. Yesterday the company announced it had signed a deal to supply its digital court recording system to 232 courts throughout the province of Alberta in Canada.

Search engine LookSmart was up this morning, to $2.98, as was Kerry Packer's ecorp, up $0.17 to $4.32. Yesterday Packer saw $1.22 billion wiped off ecorp, Publishing and Broadcasting and the FXF Trust.

The Nasdaq was up 20.33 points, or just under half a per cent to 4169.22 points, at close of trading last night.http://www.bmcmedia.comhttp://www.emitch.com.auhttp://www.technologyone.com.auhttp://www.kaz.com.auhttp://www.sanity.com.auhttp://www.chaosmusic.com.auhttp://www.sausage.com.auhttp://www.solution6.comhttp://www.ftr.com.auhttp://www.looksmart.comhttp://www.ecorp.com.au

Join the newsletter!

Error: Please check your email address.

More about BMCMediaBMC Software AustraliaecorpEmitchLookSmartPublishing and BroadcastingSausage SoftwareSolution 6Technology One

Show Comments

Market Place