2 quality ASX 300 tech shares trading at multi-year lows

What is pushing these tech titans to another breaking point?

Mitchell Lawler

Mitchell stumbled upon the concept of investing when in high school, devotedly urging his parents to put some money into a handful of technology companies with increasingly popular products among his demographic – many of which have gone on to great success. It wouldn’t be until 2017, some five years later, that Mitchell became an investor of his own money. Having studied and worked as a mechanical engineer in the building services industry, Mitchell takes a methodical and analytical approach to evaluating businesses. Rather than relying purely on numbers, Mitchell drills beyond a company’s metaphorical mantle to unearth obscure patterns or competitive advantages that would go otherwise unnoticed. His expertise resides within areas such as software, consumer goods, and building services equipment. However, his quest to find quality companies that set the industry standard and flex some degree of an impenetrable position has no limits – small cap to mega cap, cosmetics to healthcare – if it’s an exceptional business it’s on his radar.

Published April 28, 2022 5:11 pm AEST

There's no doubt that the technology sector has been battered and bruised in recent times. This has led to former market darling ASX tech shares falling from their highs, with many now trading at multi-year lows.

Today, two companies with cashed-up balance sheets and sizeable revenue growth are cementing new lows. While low share prices alone are not a reason to buy, it can be a good prompt to take another look and reassess.

In saying that, here are a couple of ASX tech shares pushing lower again on Thursday.

Kid with a brown paper bag on his head which has a sad face on it sits in front of an old style computer representing falling ASX 200 tech shares today. — Image source: Getty Images

These 2 ASX tech shares can't catch a break

PointsBet Holdings Ltd (ASX: PBH)

This online bookmaker's year just got even worse today, as the PointsBet share price moved another 1.3% lower. The disappointing outcome for shareholders means their holdings have diminished in value by 62% since the start of 2022.

Interestingly, the continued sell-off has played out as the company approaches the release of its third-quarter update tomorrow. No doubt investors will be looking to see whether this ASX tech share has turned around its rampant cash burning, or not.

Tyro Payments Ltd (ASX: TYR)

Payment solutions and point of sales terminal provider, Tyro Payments is another company losing some more of its fanfare today. By the closing bell, the Tyro share price finished up 5.3% lower to $1.17 — its lowest level since listing in 2019.

The pain for this ASX tech share has stayed with it throughout 2022, despite the company's revenue bouncing back from COVID-19 pressures. In fact, the most recent trading update shows transaction value increasing 42% in April compared to 2021.

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