Proactive's tech expert Richard Jeans talks through some of his top picks for the week in the tech industry as markets begin winding down. He says 'we have seen some continuation of recent weeks of the shift into assets that underperformed during the pandemic out of those that outperformed during the period'.
Jeans first offers analysis on software large caps, Micro Focus (LON:MCRO) which have extended recent gains by a further 12%. This followed the news late last week that Amazon (NASDAQ:AMZN) had named it as one of the businesses approved to help companies move computer mainframes onto Amazon Web Services.
In small caps, IMImobile (LON:IMO) jumped 47% following the news on Monday of an agreed offer by Cisco Systems (NASDAQ:CSCO) Excluding Micro Focus and IMImobile, averages were only marginally higher.
Jeans goes on to explain Ideagen (LON:IDEA), which is raising £48.7m to help fund acquisitions. Access Intelligence (LON:ACC) is raising £10m in a placement to enhance its products and grow the customer base. It grew its Annual Contract Value KPI by an annualised 30% in the second half.
Trading has resumed in MelodyVR (LON:MVR) the creator of virtual reality content. It has raised $10m in a subscription and it is due to complete the acquisition of Napster in late December.