ASX Digital Media Watch 5
Has it been 3 months since we last checked in on listed digital stocks? I think it has.
Let's take a look at where the Australian stocks were in July 5th, 2008.
SGN: STW COMMUNICATIONS: $1.47
HYO: Hyro: $0.046
BLU: Blue Freeway: $0.069
CQU: Commquest: $0.175
QXQ: Q Limited: $0.015
MCU: Mitchell Communication Group: $0.55
Let's see where everyone is now. While recession talks are escalating digital is seen as the one area which wont be hit as hard. But the stink of recession has eroded confidence in everyone.
As of October 17, 2008
SGN: STW COMMUNICATIONS: $0.89 ($0.58)
HYO: Hyro: $0.022 ($0.024)
BLU: Blue Freeway: $0.060 ($0.009)
CQU: Commquest: $0.090 ($0.085)
QXQ: Q Limited: $0.009 ($0.006)
MCU: Mitchell Communication Group: $0.425 ($0.125)
Ouch another tough few months and it wont get better quickly. I'm no expert but when your share price isn't even 1c you have to wonder how it can be valued?
What I do find funny as that prices slump while charts like the one below are shown to try and boost investors confidence. These type of graphs are pure fluff. What this doesn't show if that the money isn't going to them. It's going elsewhere.
If companies get as creative with actual client briefs as they do with their accounts and investor relations then they might see a turn around. However I know when I have someone else money I treat it differently too.
Full Disclosure: I am not a registered anything to do with the financial system. I also run an independent digital agency and It's in my morbid interest to follow and kick these listed entities. I also previously worked at Hyro and was stiffed a large sum of money when they initially went into receivership back in 2000/2001. I also personally dislike the name Commquest purly on the fact it sounds lame.