Here's the latest report. GLTA
Market Overview - The technology sector hasn’t fared well over the past month, with a 5% decline in the Ubika Tech 20 Index (UT20) and a 4% drop in the TSX Information Tech Index. The TSX Venture remained largely unchanged, dropping half a percent over same time frame.
Following the hugely successful Shopify (TSX: SH) IPO, which soared 150% from its initial price of $17, other high potential tech stocks have followed suit within the North American market. Fitbit, a maker of wearable tech wristbands, is now trading on the NYSE under the ticker FIT, and has jumped 80% from its IPO price of $20. In addition, Alarm.com (Nasdaq: ALRM), an application-based company that allows home and business owners to remotely control security systems, lights and other devices, began trading Friday, June 26, with an initial IPO priced at $14/share. The influx of IPOs is a positive sign for the overall economy, as business owners feel that it is the right time to go public.
Highlights -
IMPERUS Technologies Corp. (TSXV: LAB) has been the month’s worst performer, with a share price decline of 31%. The drop is surprising considering that the company only released 1 filing this month, which was to talk about its record breaking Q1 2015 operational results. Filed on June 2, the company reported revenue of $3.98MM, stemming from its Diwip acquisition competed on January 30 2015.
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Another notable decliner for the month was Opsens Inc. (TSXV: OPS), sliding 18%. This is also somewhat surprising, noting its current expansion progress into the U.S. market and having great confidence in its business, as seen by its plan to increase its work force by 50 people and leasing a 30,000 sq. foot building in Quebec City.
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On the positive side, NeuLion Inc. (TSX: NLN) has seen its stock price increase by 45%, leading the UT20 index. The provider of high-quality live and on-demand digital content for any device, has signed a new, multi-year agreement with the Tennis Channel.