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Baird’s Colin Sebastian names his top tech picks after a correction

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With the stock markets facing turbulent times, many investors are likely wondering where to invest.

Colin Sebastian has some suggestions.

Although talk of recession is increasingly in the air, Sebastian, a financial analyst who covers internet and technology stocks for Baird Equity Research, is betting that the stock selloff in recent months is simply a market correction, not the advent of an economic downturn. If that’s the case, the internet and video game software sectors should be poised for a big rebound, he said.

“We think it is reasonable to consider a more optimistic outcome” than a recession, Sebastian said in a research report issued Wednesday.

Baird Equity Research analyst Colin Sebastian studied how tech stocks performed after market corrections.
CNBC/YouTube

That would have been a remarkable statement after the huge selloff investors saw in recent weeks and have seen in recent months. But he may be on to something, given the market’s rebound on Wednesday.

To figure out what investors could expect in the case of a rebound, and where they should place their bets, Sebastian took a look at how the companies he follows performed after the four most recent market corrections.

On average, the internet companies he covers saw their stocks rise 11% in the six months after those corrections. The video game companies did slightly better, rising 12%.

But those averages mask a lot of variation among the different companies.

Among the 15 companies he studied, just three traded higher six months after each of the four corrections on which he focused: Google parent Alphabet, Facebook, and Activision. All three were also the best performers when it came to volatility — they each posted the lowest variance from their average price during those rebound periods.

But that doesn’t mean he think each one of those companies is a good bet this time around. Instead, here are his top picks:

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More groups join in support of women in STEM program at Carleton

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OTTAWA — Major companies and government partners are lending their support to Carleton University’s newly established Women in Engineering and Information Technology Program.

The list of supporters includes Mississauga-based construction company EllisDon.

The latest to announce their support for the program also include BlackBerry QNX, CIRA (Canadian Internet Registration Authority), Ericsson, Nokia, Solace, Trend Micro, the Canadian Nuclear Safety Commission, CGI, Gastops, Leonardo DRS, Lockheed Martin Canada, Amdocs and Ross.

The program is officially set to launch this September.

It is being led by Carleton’s Faculty of Engineering and Design with the goal of establishing meaningful partnerships in support of women in STEM.  

The program will host events for women students to build relationships with industry and government partners, create mentorship opportunities, as well as establish a special fund to support allies at Carleton in meeting equity, diversity and inclusion goals.

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VR tech to revolutionize commercial driver training

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Serious Labs seems to have found a way from tragedy to triumph? The Edmonton-based firm designs and manufactures virtual reality simulators to standardize training programs for operators of heavy equipment such as aerial lifts, cranes, forklifts, and commercial trucks. These simulators enable operators to acquire and practice operational skills for the job safety and efficiency in a risk-free virtual environment so they can work more safely and efficiently.

The 2018 Humboldt bus catastrophe sent shock waves across the industry. The tragedy highlighted the need for standardized commercial driver training and testing. It also contributed to the acceleration of the federal government implementing a Mandatory Entry-Level Training (MELT) program for Class 1 & 2 drivers currently being adopted across Canada. MELT is a much more rigorous standard that promotes safety and in-depth practice for new drivers.

Enter Serious Labs. By proposing to harness the power of virtual reality (VR), Serious Labs has earned considerable funding to develop a VR commercial truck driving simulator.

The Government of Alberta has awarded $1 million, and Emissions Reduction Alberta (ERA) is contributing an additional $2 million for the simulator development. Commercial deployment is estimated to begin in 2024, with the simulator to be made available across Canada and the United States, and with the Alberta Motor Transport Association (AMTA) helping to provide simulator tests to certify that driver trainees have attained the appropriate standard. West Tech Report recently took the opportunity to chat with Serious Labs CEO, Jim Colvin, about the environmental and labour benefits of VR Driver Training, as well as the unique way that Colvin went from angel investor to CEO of the company.

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Next-Gen Tech Company Pops on New Cover Detection Test

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While the world comes out of the initial stages of the pandemic, COVID-19 will be continue to be a threat for some time to come. Companies, such as Zen Graphene, are working on ways to detect the virus and its variants and are on the forefronts of technology.

Nanotechnology firm ZEN Graphene Solutions Ltd. (TSX-Venture:ZEN) (OTCPK:ZENYF), is working to develop technology to help detect the COVID-19 virus and its variants. The firm signed an exclusive agreement with McMaster University to be the global commercializing partner for a newly developed aptamer-based, SARS-CoV-2 rapid detection technology.

This patent-pending technology uses clinical samples from patients and was funded by the Canadian Institutes of Health Research. The test is considered extremely accurate, scalable, saliva-based, affordable, and provides results in under 10 minutes.

Shares were trading up over 5% to $3.07 in early afternoon trade.

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