Disruptive Technology

Week 19 – US Bellwether Blast: show me the money


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 67.4p
ASOS plc NEUTRAL 29/09/21 N/A N/A 440p
Auto Trader Group plc NEUTRAL 24/01/22 N/A N/A 645p
Auto1 Group SE NEUTRAL 09/02/22 N/A N/A 820c
Baltic Classifieds Group plc NEUTRAL 09/08/22 N/A N/A 160.4p
boohoo group plc OUTPERFORM 22/09/21 N/A N/A 43.5p
Carvana Co NEUTRAL 09/02/22 N/A N/A 1196c
Cazoo Group NEUTRAL 08/09/21 N/A N/A 9752c
Darktrace plc NEUTRAL 11/08/22 N/A N/A 281.4p
Deliveroo plc OUTPERFORM 18/01/22 N/A N/A 109p
Delivery Hero OUTPERFORM 18/01/22 N/A N/A 4021c
DoorDash Inc NEUTRAL 18/01/22 N/A N/A 6697c
GB Group plc OUTPERFORM 11/08/22 N/A N/A 306p
HelloFresh SE OUTPERFORM 09/02/22 N/A N/A 2323c
Itsarm plc NEUTRAL 09/08/22 Outperform 22/09/21 0.3p
Just Eat Takeaway.com OUTPERFORM 18/01/22 N/A N/A 1714c
Kainos Group plc NEUTRAL 06/09/22 N/A N/A 1242p
Marks Electrical Group plc OUTPERFORM 12/01/23 Neutral 26/07/22 87.0p
Moonpig Group plc NEUTRAL 06/10/21 N/A N/A 136p
musicMagpie plc NEUTRAL 29/09/21 N/A N/A 22.5p
Naked Wines plc NEUTRAL 06/10/21 N/A N/A 104p
On the Beach Group plc OUTPERFORM 09/02/23 Neutral 06/10/21 104p
OnTheMarket plc NEUTRAL 09/08/22 N/A N/A 75.5p
Purplebricks Group plc OUTPERFORM 06/03/23 Neutral 24/01/22 0.8p
Rightmove plc OUTPERFORM 24/01/22 N/A N/A 557p
Sosandar plc OUTPERFORM 26/07/22 N/A N/A 25.0p
Trustpilot Group plc NEUTRAL 06/09/22 N/A N/A 85.4p
Virgin Wines UK plc NEUTRAL 26/07/22 N/A N/A 32.0p


Microsoft (MSFT) and Alphabet (GOOGL) had over US$100bn in cash when they last spoke to the market– roughly the 60th largest country’s GDP. Our coverage is 10% the size of the bellwethers and has 10% of the cash, but the risk profiles are slightly different as their fixed costs are higher. It shows that tech is sustainable once it is scaled, but today’s macro makes getting there difficult.

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May 22 2023, 07:00 IST/BST