2022 was a difficult year for listed technology businesses. Rising interest rates, slowing growth and heightened scrutiny of business models drove the NASDAQ and the Australian IT Index down 33% and 34% respectively, with many formerly high-flying stocks faring even worse. Has this created an opportunity in 2023? While we continue to find it difficult, if not impossible, to value loss making technology stocks, we do see some pockets of opportunity emerging. This includes one of Auscap’s holdings in the Auscap Long Short Australian Equities Fund, a company that Auscap recently presented at the Sohn Hearts & Minds Conference in November 2022 – online media classifieds business Carsales.com. Read Tim's insights here on Livewire.

 

 

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