Johannesburg, 02 Sep 1998
Technology stocks in the venture capital, development and electronics sectors of the JSE kept falling on Tuesday as investors took a more realistic approach. The notable loser was the Internet start-up and JSE young lion, E-Data, which fell 50.88% to 140c. The company started its free fall from 750c last Tuesday.
Two other JSE technology favourites, Computer Configurations (a drop of 15.58% to 1680c) and Ixchange (7.99% drop to 1350c), also suffered severely from the market turmoil. Brainware is approaching the danger zone after its 7.37% slide to 88c.
The blue chip Datatec fell hard by another 20.27% to 5900c, which is half the value enjoyed by the company only a week ago. Dimension Data dropped 5.42% to 2270c, while PQ Holdings fell 6.74% to 4150c.
Industry analysts don't expect technology stocks to recover any time soon.
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