Tech investors hold their breath

Tech investors hold their breath

Dotcom investors were gripping their stock charts for another frenetic ride yesterday after local tech companies were hammered when the Nasdaq plummeted as much as 13 per cent on Tuesday night.

However, offering investors some promise, the ASX opened on a positive note yesterday morning with slight rises in many of the tech stocks that suffered on Wednesday and dragged the new ASX All Ordinaries down 25.7 points to 3137.8 at Wednesday's close.

BMC Media, which fell more than 30 per cent to $2.77, was up to $2.85, while web advertising counterpart eMitch was up 10 cents to $1.34 in early morning trade yesterday.

Also recovering yesterday morning were software developer Technology One, services company Kaz Computer Systems, and online music stores and ChaosMusic -- all slightly up on Wednesday's close.

Software developer Sausage Software rose $0.25 to $4.85, while Solution 6 was up $0.45 cents to $8.75.

Malcolm Turnbull's ecommerce investment vehicle FTR also rose $0.83, after reaching a high of around $1.15 last week. On Wednesday the company announced it had signed a deal to supply its digital court recording system to 232 courts throughout the province of Alberta in Canada.

Search engine LookSmart was up yesterday morning, to $2.98, as was Kerry Packer's ecorp, up $0.17 to $4.32. On Wednesday Packer saw $1.22 billion wiped off ecorp, Publishing and Broadcasting and the FXF Trust.

The Nasdaq was up 20.33 points, or just under half a per cent to 4169.22 points, at close of trading on Wednesday night.http://www.bmcmedia.com

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