ASX tech shares roar higher, puts ASX 200 index in the shade
Alcidion and Whispir shares roar higher, Costa wilts.
Having recently been beaten, battered and bruised, smaller tech shares had a well deserved day in the sun on Thursday, with the S&P/ASX All Technology Index (ASX: XTX) handily out-pacing the S&P/ASX 200 Index(ASX: XJO).
Could the resurgence have anything to do with the latest COVID-19 outbreak in Melbourne, with ‘stay at home’ shares being beneficiaries again?
Market movers
The Alcidion Group Ltd (ASX: ALC)share price hit an all-time high on Thursday, jumping 4 cents or 9.8% higher to 45 cents at the time of writing, and is now up an impressive 242% for Motley Fool Hidden Gems members since it was first recommended as a buy in May 2019.
In late April the provider of healthcare analytics software reported continued strong organic sales growth in the UK, Australia and New Zealand, with revenue for the first three quarters of FY21 surpassing revenue for the full year of FY20.
The Hidden Gems team recently reiterated Alcidion as a buy, saying the company has “proven technology and product that is increasingly appealing to hospitals and allied health professionals, and still has a lot of market share to claim.”
