![SMART Technologies CEO Neil Gaydon. Microsoft has found that the Calgary-based company's SMART Room System can reduce the time is takes a meeting to start from 8 to 12 minutes to almost nothing.](https://www.cantechletter.com/wp-content/uploads/2013/10/neil-gaydon-smart-technologies.jpg)
SMART Technologies CEO Neil Gaydon. Microsoft has found that the Calgary-based company’s SMART Room System can reduce the time is takes a meeting to start from 8 to 12 minutes to almost nothing.It was in the middle of the summer when something started to feel different about the Canadian technology scene. There was more excitement, more optimism, and more feeling that an actual sector rotation towards the innovation sectors might actually be happening.
Today, with new listings happening seemingly weekly, no one is doubting that tech is hot. A month ago, we counted down the ten hottest tech stocks on the TSX Venture Exchange, revealing juniors that were on fire.
But about the big board? We took a look at stocks listed on the TSX Technology Sector to find the five that have been hottest since July 8th, approximately when the current frenzy around tech began. Here they are, listed by percentage gain. We left out those that closed July 8th under fifty cents.
1. SMART Technologies (TSX:SMA)
Closing Price July 8th: $1.49
Closing Price October 8th: $2.95
Percentage Change: +49.5%
Shares of Calgary-based SMART Technologies have climbed steadily since this past summer. The company, which designs and sells interactive whiteboard technologies for the education and enterprise markets, inked a deal with Epson in September for that company’s BrightLink® Interactive Projectors, following that up today with a deal with Microsoft, designing a SMART Room System™ For Microsoft® Lync®, a popular platform in boardrooms across America. One of the things Microsoft was looking for was greater efficiency; their own internal studies showed that it currently takes an average of 8 to 12 minutes to begin a meeting, but that figure is reduced to seconds with the SMART Room System.
2. Redknee (TSX:RKN)
Closing Price July 8th: $3.35
Closing Price October 8th: $5.21
Percentage Change: +35.7%
In August, Mississauga-based Redknee reported its Q3, 2013 results. The company earned (U.S.) $80,085 on revenue of revenue of $58.6-million, up 295% from the $14.8-million revenue number the company posted in 2012′s Q3. M Partners analyst Ron Shuttleworth said the company’s first full quarter incorporating its Nokia Siemens Networks acquisition showed that Redknee knows what it is doing.
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3. Mitel Networks (TSX:MNW)
Closing Price July 8th: $4.00
Closing Price October 8th: $6.21
Percentage Change: +35.6%
On its fortieth anniversary, Mitel’s legacy business is still weighing on its results, but its efforts in virtualization are quickly supplanting that negativity, said company CEO Rich McBee at a recent conference. McBee says Mitel has made a big bet on virtualization and is currently in the process of working through legacy drivers that have hampered growth. But the Mitel CEO says that the places the company is headed have significantly better outlooks. “Where we are focused we are seeing tremendous growth,” he says.
4. Mad Catz (TSX:MCZ)
Closing Price July 8th: $.51
Closing Price October 8th: $.77
Percentage Change: +33.8%
Mad Catz, which was founded in 1989 and is now based in San Diego, designs and markets accessories for video game systems. The company has designed products for all major video game platforms, including a deal with Fender to design a Stratocaster guitar controller for Rock Band 3, and Gears of War 3 audio products for the Xbox 360. The company today announced it will launch its MOJO Micro-Console for Android, in limited quantities, on Dec. 10, 2013.
5. Tucows (TSX:TC)
Closing Price July 8th: $1.94
Closing Price October 8th: $2.48
Percentage Change: +21.8%
Throughout its lengthy history it has been involved in a variety of businesses, but today is now into domain registration, where it has become the third largest ICANN-accredited registrar in the world. Tucows Q2, announced August 8th, was its thirteenth consecutive quarter of year-over-year revenue growth. Net revenue for the second quarter of 2013 increased 11% to a record $31.2 million from $28.2 million for the second quarter of 2012.
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