Weebit Nano

So we said tech stocks have been under pressure today.

Now, shares of memory chip maker Weebit Nano surged 17% on Friday, and this was after an upbeat quarterly update.

But today, it is the second worst performer, potentially on some profit-taking.

Its share price down roughly 8%.

Uh, there's been controversies of course surrounding the former chief executive that have weighed on the, uh, the tech darling in recent years.

Sticking with tech stocks, memory chip maker Weebit Nano has been the top performer today.

It surged 17%, and this is after releasing its quarterly update.

Now, it told investors that one of its customers has now successfully tested Weebit Nano's technology and is targeting mass production in 2027, while also signing on two new customers during the quarter.

So some encouraging signs that Weebit's technology is getting closer to being used commercially, and importantly, that could bring in more money for the company.

One of the standouts of the day is Mass Group, which is up around 14.8%.

Karim was up by about 6%.

Superloop, Silex, and Weebit Nano rebounding.

All right, to the downside.

Paladin was off by 8.4%, 4D Medical also weaker.

Uh, it's also heavily invested in optical communications group Lumentum and others such as semiconductor component maker AXT.

Another one in the kind of AI infrastructure space is Weebit Nano.

And Weebit Nano, uh, obviously a darling of the Australian tech, tech sector, fell twenty-five point nine percent last week and closed at a fifty-two-week low of two dollars eighty.

Now that sharp decline, it seemed, was primarily driven by a media report regarding its bankruptcy risks.

Uh, while Weebit Nano rejected the story, citing its a hundred and sixty-eight million cash reserve, it did lead to a sharp sell-off.

Now, I think it goes to show you that although there is a lot of infrastructure spending occurring out there, investors are still very, very nervous and very skittish on any headlines.

That does suggest that AI infrastructure rollout may be starting to slow or may be coming, um, un-under challenge.

Just been added to the ASX two hundred, but, uh, we'd be neutral on that one at the moment.

Deep Yellow Limited, DYL, down six point two percent, and Weebit Nano, WBT, down four point seven percent.

Some stock news catching the eye.

Electro Optic Systems, EOS, as I said, up four and a half percent.

Yeah.

Weebit Nano, cracking name.

Weebit Nano's share price tumbled eleven percent.

It's been fending off media reports or a media report specifically from the ABC that said investment analysts thought it was at risk of bankruptcy.

The microchip company rejected the analysis, saying that was misleading and had plenty of cash.