GDP figures from the Bureau of Statistics show Australia's economy shrank 0.3 per cent in the March quarter, amid bushfires and the early stages of the coronavirus pandemic.
This puts us on the first step toward a technical recession. The last recession occurred 29 years ago. A recession is usually considered to be two consecutive quarters of GDP contraction.
Many are saying a second contraction is almost certain to occur when the full impact of coronavirus-related shutdown shows up in the next set of figures, being the June quarter.
But could the flurry of panic buying we saw at the start of the pandemic be enough to hold off a second quarterly contraction? And even if it doesn't, given the pent up demand that should show up in the September GDP figures, could any recession be the shortest on record?
Also, does this mean anything of significance for the tech stocks we cover at InsideMarket?
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Intelicare opens with a bang on ASX
Finding ways to help people to live in their own home for longer, despite their age, has never been more important.
During the pandemic, keeping the pressure off our hospitals is critical but in the future, the growing costs associated with ageing populations are set to make aged care at home a massive industry.
Perth based InteliCare [ASX:ICR] is a new business entering that market and it listed this morning. It immediately jumped from its issue price of $0.20 to $0.39. The company's five million dollar Initial Public Offering was oversubscribed.
Why Kauri Asset Management is buying Visa, Mastercard and Paypal.
Cloud computing and transaction/payments processing are areas of
great interest to Michael Smith, CEO of Kauri Asset Management.
Kauri operates two portfolios, a yield and a growth fund. The latter holds stakes in technology-based companies that many of us use on a daily basis.
Currently holding about 30% cash, the fund is increasing its positions in areas like cloud computing which it is tipping will play a greater role as businesses fast-track an environment where employees have the flexibility to work from home.
Transaction and payments processing is also an area Michael Smith says they are bullish on, with behavioural changes likely to see consumers embrace digital solutions, introducing the prospect of future innovation in this area.
Mach7 Technologies to beat analysts revenue forecast
says MD Mike Lampron
Covid-19 will not affect the fiscal years revenue of medical technologies company Mach7 according to MD Mike Lampron.
Instead he told me, from his home in Oregon USA, that the company "Will definitely exceed $14 million dollars in revenue and should see some additional big deals coming through this fiscal year."
Queen Mary Hospital Hong Kong
Resapp technology now in clinical use in COVID-19 fight.
Following a one month trial at a federally funded COVID-19 respiratory clinic in Queensland, ResApp Health Limited's (ASX: RAP), ResAppDx-EU smartphone app has been put into clinical use.
Health Hub Doctors Morayfield was the first respiratory clinic established with federal government funding to take pressure off local hospitals by treating mild-moderate respiratory illnesses and assessing patients requiring COVID-19 testing. Read more and watch the interview with CEO by subscribing free.
PainChek [ASX:PCK] is exploring a new use in a COVID world.
When it comes to end-of-life care, knowing your loved one is not suffering is usually the greatest concern for friends and family.
This is significantly heightened at the moment with COVID-19 preventing many people from being with their loved ones leading up to and at their time of passing.
To alleviate this, PainChek is looking to use its smartphone pain management technology to provide a live stream update of the person's pain levels direct to a family members phone.
CAN OLD FASHIONED WIRE AND 3D PRINTING MAKE MILLIONS?
A recently listed 3D additive printing business hopes it will have a better chance than some of its
hi-tech competitors thanks to an ironic advantage.
AML3D technology is based on a 130-year-old process and uses old fashioned wire as its feedstock.
It is all about big contracts now says Aussie counter-drone company
The CEO of global counter-drone technology company DroneShield (ASX:DRO) says "Our overall revenue trend for the company will hopefully be much more than the 200% year on year increase it saw last year."
"It's all about big contracts for us now",Oleg Vornik told me in my latest InsideMarket interview
"There are a couple of material processes we are involved with that can materially uplift us from where we are into a whole different revenue ballpark."
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THE GOAL OF INSIDEMARKET
is to uncover, listed technology companies that are:
Attempting to develop unique & difficult disruptive technology
Supported by deep intellectual resources
Developing technology that is globally-scalable
What Is Disruptive Technology?
The goal of InsideMarket.net is to uncover, and investigate companies that are:
Attempting uniquely difficult disruptive technology tasks.
Supported by deep intellectual resources.
Developing technology that can be globally-scaled.
Disruptive technology falls into several categories:
A revolutionary new technology, like robotics, deep learning (DL), artificial intelligence (AI), Internet of Things (IoT) and Internet of Manufacturing (IoM).
Disruptive technology can involve everything from hardware, to software or a combination of technologies.
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