XRO, SQ2, WTC: How are these 3 ASX-listed tech stocks faring today?

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XRO, SQ2, WTC: How are these 3 ASX-listed tech stocks faring today?

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ASX information technology stocks
Image source: © Solarseven | Megapixl.com


  • Australian stocks have started the new week on a positive note.
  • ASX200 IT Index (XIJ) wais about 2% higher post noon today (16 May).

ASX200 has kicked off the week's trade slightly higher, gaining 14.10 points to touch 7,089.20 points post noon today (12:30 PM AEST). 8 of 11 sectors were higher on the ASX 200 Index, led by Industrials and IT. ASX 200 IT sector index (XIJ) was up about 1.758%. In this backdrop, stocks worth noticing are Cloud accounting business Xero Limited, Block Inc and WiseTech Global, which surged over 2% before mid-day.

Note- Share prices quoted here for comparisons are as of 16 May 2022 at noon.

WiseTech Global Limited (ASX:WTC)

Software solutions provider WiseTech Global Limited did not release any new announcement on the ASX today. However, WTC's share price rose over 0.98% by noon today. In the absence of new announcements, the share price movement seems influenced by the broader market and sectoral rally.

It's the last five trade days, WTC shares have gained around 11.95%. While in a comparatively longer term of six months, WiseTech Global Limited's shares have lost over 26%.

On ASX, WiseTech Global Limited holds a market capitalisation of AU$13.38.

Share price performance as of Monday noon

Share price performance based on prices from ASX

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Since all the above stocks are of large-cap companies from the information technology sector on ASX200, it is possible to make some comparisons. Based on the above table, the biggest gainer by noon today has been Block Inc. Meanwhile, the share price that depreciated the most in the last five trade days is also Block Inc. The top gainer in the same period is WiseTech Global Limited.

Xero Limited (ASX:XRO)

Another prominent technology sector stock is Xero Limited. The company is a provider of cloud-based accounting software services. The company released its FY22 Annual results last Thursday, and its share price has picked momentum on the ASX since then.

In the last five trade days on ASX, Xero Limited share price has appreciated by over 5%. Today by noon. XRO shares added another 3.64% to their price, continuing the gaining streak from last week. However, the shares have lost over 40% in the last six months. Despite the loss, Xero Limited holds a market capitalisation of AU$12.58 billion.

More from ASX - Why Is Brambles (ASX:BXB) Share Price Shooting Up Over 11%?

Block Inc (ASX:SQ2)

Provider payment acquisition and payment network services company, Block Inc. It has caught investors' attention today for the announcements related to changes in beneficial ownership of its directors.

The SQ2 share price has moved up over 4.37% by mid-day, reversing last week's losses. On the ASX, Block Inc. holds a market capitalisation of AU$61.66 billion.


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