ASX tech sector has been smashing over last few months, one of the best performed sectors, now is the worst performed one. The market is always over-reacted at either direction, I believe. Just have a look at Gold stocks, and other mining stocks, were worse performed ones, but recently heaps of turning multiple baggers, even some with excessive debt at verge of bankruptcy like BLY (from 4c to 18c).
I believe this tech burst, 1PG is way overdone by insto aggressive sell off with shorting, then following with retail exiting. It's unbelievable 1PG was trading at $5.6 just 11 months ago. What's major change since then? Underdelivery. Mainly was no news and losing investors' confidence. 1PG is currently valued at only about $17m enterprise value which is less than the most meaningful ASX tech stocks, even TV2 has higher valuation than 1PG.
ALL imo & DYOR.
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