Wynyard, NZ tech stocks rally as investors seek ‘next Xero,’ bet on growth

Tue, 14 Jan 2014

By Suze Metherell Jan. 14 (BusinessDesk) – Security software firm Wynyard Group has soared 90 percent on the NZX this year, leading a rally in tech stocks as investors regain their appetite for risk, buying businesses they hope will offer the same growth prospects and capital gains as Xero. Xero, the cloud-based accounting company, has increased 24 percent in the past two weeks, building on a 333 percent gain in 2013 that made it the NZX 50 Index’s top performer. SLI Systems, which provides search engine navigation for retail websites, is up...

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