Overall, most listed Digital Infrastructure stocks in the region are up over the last year, but with wide spreads in performance among the group. Economic growth is expected to be sluggish relative to previous years, creating uncertain performance for Digital Infrastructure equities.
Macquarie Telecom’s stock rose 5.5% in January with the shares lifted by news that its third data centre at the Macquarie Park Data Centre Campus in Sydney had its development application for construction approved by the NSW Independent Planning Commission.
Chorus’ stock bumped up nearly 3% in January with the company providing a Q2 FY24 connections update, which saw continued growth in fibre connections with 11,000 new connections. This directly offsets the copper broadband reductions across Chorus’ footprint.
Microcap Adisyn’s share price rocketed 53% in January. A company announcement during the month that quarterly revenue increased 60% compared to the prior corresponding period, and a company restructuring which is expected to generate cost savings, drove this volatility.
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