4DS Memory (ASX:4DS) share price up 7% on Thursday

The 4DS Memory share price is rocketting today.

| More on:
share price up

Image source: Getty Images

The 4DS Memory Ltd (ASX: 4DS) share price is in the green today despite no news having been released by the company.

In fact, the market hasn’t heard news from 4DS Memory this week. The last time the company released an update was last Thursday when it announced its earnings for financial year 2021.

Right now, the 4DS Memory share price is 15 cents, 7.14% higher than it was at yesterday’s close.

Let’s take a look at what might be boosting the memory technology developers shares today.

What’s driving 4DS on the ASX?

The 4DS Memory share price is in the green on the ASX today.

While the company hasn’t announced any news, many of its S&P/ASX All Technology Index (ASX: XTX) peers are also having a great day’s trade. The index has gained 0.6% on Thursday.

4DS Memory’s stock is the index’s third best performer today. Though, it has been bested by the share prices of Bill Identity Ltd (ASX: BID) and Silex Systems Ltd (ASX: SLX). They’ve gained 12.6% and 12.4% respectively.

4DS Memory’s stock could also be recovering from a brutal fall it took this week.

Between 4DS Memory releasing its financial year results and yesterday’s close, the company’s share price slid 17%.

Additionally, the company’s stock crashed 18% on the back of a technical update posted on 17 August.

The two major drops have meant 4DS Memory’s stock is still 31% lower than it was this time last month.

4DS Memory share price snapshot

The 4DS Memory share price has suffered through a disastrous month.

It is now only 7% higher than it was at the start of 2021. Luckily, it has still gained 200% since this time last year.

At its current share price, the company has a market capitalisation of around $198 million, with approximately 1.3 billion shares outstanding.

Should you invest $1,000 in 4DS Memory right now?

Before you consider 4DS Memory, you'll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and 4DS Memory wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of January 13th 2022

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Technology Shares

Rede arrow on a stock market chart going down.
Share Fallers

Why the Integrated Research share price is cascading 15% today

Clouds gather around Integrated Research amid latest trading update.

Read more »

Technology Shares

Droneshield share price leaps 10% amid strong Ukrainian demand

The company's anti-drone systems are employed by militaries, law enforcement and private enterprises across the world.

Read more »

Two boys lie in the grass arm wrestling.
Technology Shares

Novonix share price fights to stay in the green on Monday

Tech is leading the ASX today.

Read more »

Person pointing at an increasing blue graph which represents a rising share price.
Share Gainers

Why is the Nitro Software share price rallying 5%?

Tech shares are showing signs of life again on Monday.

Read more »

Three analysts look at tech options on a wall screen
Technology Shares

Why are ASX 200 tech shares having such a stellar start to the week?

ASX 200 tech shares are outperforming the benchmark today.

Read more »

A woman wearing glasses has an uncertain look on her face as she bites her lip, she's just read some news on her phone.
Technology Shares

What’s with the Dicker Data share price today?

Shares in the hardware, software and cloud distributor are up and down today.

Read more »

Three analysts look at tech options on a wall screen
Technology Shares

3 ASX tech shares we’re sticking with: Forager

Share prices have plunged, we know. But if the business is still performing then the market will catch up sooner…

Read more »

Opinions

Here’s why I think ASX-listed Appen could be a potential takeover target

Why I think Appen could find itself in the crosshairs of private capital...

Read more »