Two Tech Stocks for 2021
Email Sent On: 22-01-2021
Stock 1 - Cybersecurity Tech:
Whitehawk (ASX:WHK) is our cybersecurity technology pick on the ASX. The WHK share price has looked like it wants to run over the last two trading sessions, rising from 30c to 38c on low volume and no news.
We suspect this might have something to do with the Biden inauguration... but obviously can’t be sure.
US based WHK provides cybersecurity tech to very large organisations, including the US government.
Newly inaugurated US President Joe Biden has already stated his intentions to focus on cybersecurity during his term.
2020 also gave rise to a cybersecurity breach of multiple US government departments that was described as “The hack of the decade”
This was part of a growing trend of hacks on government departments and large infrastructure businesses.
We believe cybersecurity tech solutions like those offered by WHK will become highly sought after in 2021.
Here is our opinion on how the US “hack of the decade” from December might impact WHK:
Stock 2 - Health Tech:
We are long term investors in MyFiziq (ASX: MYQ), which has developed an accessible, advanced human imaging by smartphone app for the med-health, population health, fitness and insurance sectors.
The MYQ price has spent the last 6 weeks consolidating around the $1.20 mark after a steady uptrend from 90c.
Over $7.8 trillion is spent on healthcare globally, so the rise of healthtech solutions has become a huge opportunity for investors.
MYQ was busy in 2020 and the distribution of its app into various partner technologies was reflected in the share price.
Today, MYQ announced that it will help partner Bearn Application expand its volume capability.
Bearn has over 56,000,000 users pre-registered for the combined application and is looking to increase platform capacity to allow mass onboarding. MYQ will provide $500,000 to do so, as the pair look to sign 1M monthly active users to the MYQ app.
We are long term investors in MYQ. here is why: