Sky Falls In on Nearmap Ahead of Bid Vote
Aerial imaging company Nearmap revealed the worst possible news ahead of a key takeover vote – two clients set to drop or cut back on their use of the company.
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Peaks and Valleys Persist for Nearmap
Shares in mapping tech Nearmap surged nearly 15% in trading on Tuesday after the company surprised with an upgraded outlook, more than wiping out its loss for the year.
Read MoreWax Melts on the Wings of Appen, Nearmap
Two high flying tech stocks returned to earth with a thud on Thursday with Appen and Nearmap both seeing 20% plus slumps in their share prices; one a bit of a mystery, the other for good reason.
Read MoreNearmap Prepares For Weak Conditions
Nearmap has implemented savings initiatives, anticipating positive cash flow by June, despite being deemed an essential service and unaffected to date by the pandemic.
Read MoreNearmap Navigates Virus, Premier Delays Reopening, Kogan Booms
Restaurant Brands has warned investors of a “significant decline”, online retailer Kogan has reported a huge jump in sales, Premier Investments yesterday confirmed that it has delayed re-opening some of its Australian chains while Nearmap has confirmed full-year guidance and reckons it is largely unaffected by the COVID-19 lockdown.
Read MoreReality Bytes As Tech Darlings Crash Back To Earth
Reality for the ASX’s boom tech stocks with leaders WiseTech and Nearmap seeing their shares sold off after bad news was revealed to investors.
Read MoreWhen High-Flying Tech Darlings Return To Earth
The savage share sell down of Nearmap highlights the dangers of investing in tech stocks valued on lusty revenue multiples that leave little room for error. Given that billion-dollar valuations have become common in the sector, no doubt other casualties will emerge as the reporting season unfolds.
Read MoreNearmap Flying High In The USA
It’s time for me to revert back to individual stock opportunities. The past few weeks we have been discussing the global macro picture and some of the clues that other markets and instruments have been giving as clues to the future behaviour of equities. Sometimes though despite the broader market trends there are standout individual companies and one of these that excites us once again is Nearmap (NEA) which is now expanding into the US and gaining a lot of traction. Hence the share price improvement.
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