Hey, how are you doing? And welcome to Livewire’s Buy Hold Sell. I’m Ally Selby and as you all very well know, tech has been one of the worst hit sectors this year with higher interest rates really taking their toll on valuations. But they say you should buy it when there’s blood in the streets.
Oh, I’d say probably more balanced. I mean, it really depends on the companies we’re talking about. I think the profitless tech story, that boom’s really died out, but there’s still a lot of froth in some pockets of the market, we think. So we’re hedging our bets a little bit and picking quality companies that have got valuations supported by cash flows.
Also, we think there’s been a real change in effort in emphasis from the company away from adding more subscribers to generating more money from existing subscribers. This is not necessarily a bad thing, but to us, it just suggests that maybe the addressable market isn’t big enough to support a 50 times earnings valuation on the stock.Okay. Next up we have Megaport. Brokers seem to be absolutely loving this stock at the moment. Over to you, Lucas.
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