Disruptive Technology

Week 8 – US Bellwether Blast: taking stock, the year to date


Ratings and price correct at time of issue

Company Rating Date Previous Rating Date Closing Price
AO World plc NEUTRAL 22/09/21 N/A N/A 72.0p
ASOS plc NEUTRAL 29/09/21 N/A N/A 900p
Auto Trader Group plc NEUTRAL 24/01/22 N/A N/A 586p
Auto1 Group SE NEUTRAL 09/02/22 N/A N/A 751c
Baltic Classifieds Group plc NEUTRAL 09/08/22 N/A N/A 162.0p
boohoo group plc OUTPERFORM 22/09/21 N/A N/A 55.3p
Carvana Co NEUTRAL 09/02/22 N/A N/A 947c
Cazoo Group NEUTRAL 08/09/21 N/A N/A 16770c
Darktrace plc NEUTRAL 11/08/22 N/A N/A 266.8p
Deliveroo plc OUTPERFORM 18/01/22 N/A N/A 84.7p
Delivery Hero OUTPERFORM 18/01/22 N/A N/A 3850c
DoorDash Inc NEUTRAL 18/01/22 N/A N/A 5528c
GB Group plc OUTPERFORM 11/08/22 N/A N/A 340p
HelloFresh SE OUTPERFORM 09/02/22 N/A N/A 2155c
In the Style Group plc NEUTRAL 09/08/22 Outperform 22/09/21 6.9p
Kainos Group plc NEUTRAL 06/09/22 N/A N/A 1391p
Marks Electrical Group plc OUTPERFORM 12/01/23 Neutral 26/07/22 90.5p
Moonpig Group plc NEUTRAL 06/10/21 N/A N/A 118p
musicMagpie plc NEUTRAL 29/09/21 N/A N/A 39.4p
Naked Wines plc NEUTRAL 06/10/21 N/A N/A 109p
On the Beach Group plc OUTPERFORM 09/02/23 Neutral 06/10/21 164p
OnTheMarket plc NEUTRAL 09/08/22 N/A N/A 68.0p
Purplebricks Group plc OUTPERFORM 06/03/23 Neutral 24/01/22 9.0p
Rightmove plc OUTPERFORM 24/01/22 N/A N/A 547p
Sosandar plc OUTPERFORM 26/07/22 N/A N/A 23.5p
Trustpilot Group plc NEUTRAL 06/09/22 N/A N/A 104.9p
Virgin Wines UK plc NEUTRAL 26/07/22 N/A N/A 52.0p


After a busy results cycle, we dig into the share price moves so far this year. The bellwethers are up 24% on average in 2023, with our coverage up 10%. The prospect of peaking interest rates is good for these longer duration assets, with both outperforming the S&P 500’s 3% gains. While investors have rewarded both tech groups’ cost cutting in the ‘year of efficiency’, the bellwethers gained more because of the innovation and potential for growth from Artificial Intelligence (AI).

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Mar 6 2023, 07:00 GMT