Investors and analysts said TechnologyOne has fallen victim to broader market nervousness about over-valued technology and artificial intelligence companies, as it led a broad tech stock sell-off after a minor earnings miss.
The Brisbane-based software company has been an ASX tech stalwart for more than 25 years, rallying 15 per cent since the beginning of the year, but its shares fell almost 17 per cent to $29.37 on Tuesday after it reported slower-than-expected revenue growth over the past year.
