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 2022, creating uncertain performance for Digital Infrastructure equities.
DC Two’s stock fell 13% in October after the company announced that they are terminating the sale agreement with DComm for the sale of DC Two’s non-core infrastructure assets. The initial sale agreement dated back to February this year.
Chorus’ stock dropped close to 6% this October after a quarterly update which entailed a modest increase in fibre connections and a reduction in fixed line connections. This aligns with the companies strategy of shifting New Zealand households from copper connections to fibre.
NextDC’s stock fell around 5% in October despite any company announcements. The stock has not favoured well with investors since releasing disappointing FY24 guidance in late August, dropping over 10% from a high of $13.80.
Venture Insights is an independent company providing research services to companies across the media, telco and tech sectors in Australia, New Zealand, and Europe.