Company results season is about to start in a few days and that could see prices for certain ASX shares spike up or down.
Therefore it is wise to see if there are any stocks that might have big news coming up.
Medallion Financial managing director Michael Wayne this week picked out for his clients a trio of ASX shares to watch.
He told The Motley Fool these businesses are worth picking up for investors willing to put up with “a little pre-report risk”.
“We feel these 3 are a good chance of delivering and continuing the good momentum they’ve been displaying in recent months.”
‘Unregulated monopoly’ for this Aussie business
Audinate Group Ltd (ASX: AD8)’s flagship product Dante allows audio equipment to communicate with each other via computer networking cables.It’s a business that Wayne has vouched for previously.“They’re growing very, very quickly. The adoption rate… is about 17 times the nearest competitor,” he told The Motley Fool back in May.“I think about 75% of new audio equipment and digital equipment incorporates the Audinate Dante protocol. And that should mean that they’re embedded into that industry for some time to come.”The stock advisor still has the same conviction ahead of the August reporting season.“At this stage the business is still building scale — but at this rapid rate of progression, it is conceivable in our view that the Dante product will emerge as an unregulated monopoly,” he said this week.“This is particularly positive news with market data forecasting the networked audio space is expected to triple from 2020 to 2024.”Audinate shares are up more than 14% for the year, closing Wednesday at $9.42. Its preliminary report is due 19 August.
