Source: TippaPatt, Shutterstock
- Tech stocks have multiplied investors wealth by over 7 times in 2021 so far.
- Tech stocks continue to deliver robust returns despite the adversity of the pandemic.
Innovation and Technologies have been the constant growth drivers of the markets in recent decades. For our constantly evolving needs, technological advancements are taking place at a brisk pace. Investors’ major chunk of investments is in technology domain.
Recently, shares of social media giant Facebook Inc closed at an all-time high of $308.91 as mega cap tech stocks rallied. Other notable tech titans, Amazon, Apple, Microsoft Corp, followed the course. The rally in these technology stocks is a result of expedited Covid-19 mass inoculation programmes run by the government.
In this article, we shall focus on 5 tech stocks that showcased the fastest growth in 2021 so far.
(Data Source: Refinitiv) Copyright © 2021 Kalkine Media Pty Ltd.
- Argo Blockchain Plc (LON: ARB)
Shares of UK-based crypto currency miner have soared by around 600 per cent since the start of the year. The company has been deriving profits from the consistent rally in Bitcoin prices for the past few months. More and more businesses are signing up for sustainable development, and so did Argo Blockchain.
World’s leading crypto miner Argo Blockchain with a market capitalisation of over £900 million is expected to launch the first green Bitcoin mining pool and has signed a Memorandum of Understanding with DMG Blockchain Solutions. Terra Pool, a Bitcoin mining pool powered by clean (hydroelectric) energy, would be launched by Argo and DMG jointly, under the terms of MoU.
Earlier in February, Argo announced land acquisition in Texas, that shall be transformed into a mining facility powered by 800 MW of clean, renewable energy. Crypto mining is an energy intensive business, and the switch made by Argo towards clean energy resources and sustainable development places it on investors radar.
- Altitude Group Plc (LON: ALT)
AIM-listed operator of a leading marketplace for the global promotional products industry, Altitude Group recorded a 36 per cent increase in revenue to £4.4 million during the first half of 2021. Notwithstanding the impact of COVID-19, the company logged robust performance during H1 and remains debt free.
The Sheffield-based marketplace operator having a market capitalisation of over £28 million, remained confident of its growth trajectory and strong position in the marketplace in the long-term. Notably, shares of Altitude Group have soared by over 155 per cent since January so far. Also, there has been a significant amount of insider buying in the company. According to some media reports, Martin Varley, Non-Executive Director of the company, bought 52,000 shares last month.
- Dev Clever Holdings Plc (LON: DEV)
UK-based software and technology group Dev Clever Holdings (M-cap: £209.36 million) is a leading provider of cloud-based VR and gamification technologies across education and commercial sectors. The company’s recognised revenue more than doubled to £1.25 million during the fiscal year 2020.
The world has accepted distance learning as a new reality in the age of pandemic. The company offers immersive technology to support schools in revolutionising career guidance programs.
Last year, the company forged several strategic partnerships. Dev now has access to the global EdTech markets as it signed an exclusive three-year global distribution agreement with the global technology hardware company Lenovo. The company bolstered its sales and marketing capabilities by acquiring Pheonix Digital Limited, a multi-service digital agency in the realm of education. Dev shares have soared by over 146 per cent since January so far.
- PCI-PAL Plc (LON: PCIP)
The AIM-listed global cloud provider of secure payment solutions for businesses, PCI-PAL, having a market capitalisation of £67.11 million, recorded an increase in revenue of 56 per cent year on year to £3.19 million in 2020. In 2020, the company signed 93 new customer contracts, which represented an increase of 82 per cent over the previous year. During the period, the company ventured into new technology partnerships with Oracle and Calabrio. The company has carried the momentum in 2021 as it had signed a further 26 new customer contracts by the end of February 2021. PCIP shares have rallied 135.12 per cent since January so far.
- Gaming Realms Plc (LON: GMR)
Developer and licensor of mobile-based gaming content Gaming Realms has launched ‘Slingo Starburst’, which is the first game in collaboration with NetEnt signed in October last year. The game has been distributed to the online Real Money Gaming market and is available worldwide. The exciting game has slot features under its popular Slingo genre.
The London-listed developer of mobile-focused casino games expects revenue and adjusted EBITDA to be circa £11.2 million and £3.1 million, respectively, for 2020, according to its pre-closing trading update.
In order to bolster its presence in the US market, the mobile gaming company having a market capitalisation of over £122.50 million, has signed a direct-integration agreement with BetMGM, a sports betting and online gaming operator. Under the terms, company’s proprietary Slingo content will be integrated into BetMGM Casinos during the first half of 2021. Also, the AIM-listed mobile games developer has taken iGaming supplier license from Michigan Gaming Control Board and is expected to supply online casino operators in Michigan with Slingo Originals game content. Gaming Realms shares have soared by over 115 per cent since January so far.