Israeli tech cos enjoyed positive Q1 on Nasdaq

Playtika Nasdaq IPO
Playtika Nasdaq IPO

While the Nasdaq index rose 16.8%, many Israeli companies far outperformed that rise.

Most of the Israeli tech companies shares traded on Wall Street posted strong gains in the first quarter of 2023. While the Nasdaq index rose 16.8%, many Israeli companies far outperformed that rise. Adtech company Perion Network (Nasdaq: PERI) rose 56.4% in the first quarter and e-commerce company Global-E (Nasdaq: GLBE) rose by a similar percentage. Other shares that performed well in the first quarter included metrology companies Camtek (Nasdaq: CAMT), and Nova (Nasdaq: NVMI), website building company Wix.com (Nasdaq: WIX) and mobile gaming company Playtika (Nasdaq: PLTK).

There has been a takeover struggle between two Israeli 3D printing companies with Nano Dimension (Nasdaq: NNDM) bidding to purchase Stratasys (Nasdaq: SSYS). Both companies' stocks fared well in the first quarter rising 25.7% and 39.4% respectively.

However, some dual traded companies had a disappointing quarter in terms of share performance. LivePerson (Nasdaq: LPSN; TASE: LPSN) has lost 56.5% since the start of the year. Allot Communications (Nasdaq: ALLT; TASE: ALLT) and AudioCodes (Nasdaq: AUDC; TASE: AUDC) fell 21.8% and 15.7% respectively in the first quarter.

While Nasdaq rose strongly, the Tel Aviv 35 Index fell 3.2% in the first quarter of 2023, in part due to concerns about the government's planned judicial overhaul.

Published by Globes, Israel business news - en.globes.co.il - on April 2, 2023.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.

Playtika Nasdaq IPO
Playtika Nasdaq IPO
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