Facebook fallout hits technology stocks

Original article by Supratim Adhikari
The Australian – Page: 17 & 26 : 29-Mar-18

Investor sentiment toward Australian-listed technology companies turned bearish on 28 March, in the wake of a similar sell-down on Wall Street. WiseTech Global was among the hardest hit, shedding 4.6 per cent to close at $A10.11, while Altium, Appen and Xero all fell by at least two per cent. Julia Lee of Bell Direct stresses that Australian technology stocks do not use large volumes of data so they are not exposed to the same risks as US peers such as Facebook. She does note that many local tech stocks are overvalued.

CORPORATES
WISETECH GLOBAL LIMITED – ASX WTC, ALTIUM CAPITAL LIMITED, APPEN LIMITED – ASX APX, XERO LIMITED – ASX XRO, BELL DIRECT, FACEBOOK INCORPORATED, CAMBRIDGE ANALYTICA LLC, NASDAQ, LINCOLN INDICATORS PTY LTD, GENTRACK GROUP LIMITED – ASX GTK, STANDARD AND POOR’S ASX 200 INDEX

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s