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.
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