MENU

Nextdc Ltd shares lower on legal spat

Shares in data centre operator Nextdc Ltd (ASX: NXT) are down 0.8% to $6.77 in morning trade as the company wrestles with bad press from legal proceedings initiated by Asia Pacific Data Centre Group (ASX: AJD).

NEXTDC will defend claims it denied Asia Pacific Data Centre (ADPC) access to its three property sites in Sydney, Melbourne and Perth, as APDC attempted to allow prospective purchasers to inspect the real estate.

The fresh legal action comes after a 2017 issue involving 360 Capital Group Ltd (ASX: TGP), after 360 made an overture for a controlling stake in ADPC, which NEXTDC tried to block.

Investors are obviously spooked by the drama within NEXTDC ranks and the company trades at a very high PE ratio of 167.8, increasing its risk profile substantially.

A new player has emerged in the space recently, with Data Exchange Network Ltd (ASX: DXN) grabbing the attention of Macquarie Group Ltd (ASX: MQG) who took up a 5.4% holding in the company.

Other tech stocks to watch today include software company Bravura Solutions Ltd (ASX: BVS) and Xero Limited (ASX: XRO), both of which are down today after flying to 52-week high territory earlier in the week.

The tech space is certainly volatile right now, so find the 3 Revolutionary Aussie Companies to Back for 2018 here

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Bravura Solutions Ltd and Xero. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!