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February 4, 2008

ASX Digital Media Market Watch 2

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Ashley reports from his ivory tower

We posted in January about the fall in digital stocks in Australia. It seems a lot can happen in a month with two of the biggest players having more troubles and management changes.

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And it seems Blue Freeway has continued to be hit hard. Their share price was $1.11 when we posted and now sits at $0.44c. This from a high of $2.44. Ouch! Richard Webb their CEO has stepped aside after just 12 months and management are fanning the fires by announcing restructures and top level job cuts.

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All this noise about Blue Freeway covered the fact that Hyro's share price dropped from 16c to 9c in a day and their CEO step aside the day after.

Ashadi pointed out that Apple shares have also dropped since January (down form $199 to just $136) so anyone heeding my investment advice would have been screwed either way.

But the share market is for the long term and it will be interesting viewing watching these local tech stocks as they keep their head above water.




 

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