This top 20 list was updated at the end of the first quarter to reflect changes in valuations of B.C.'s tech firms. Five companies - Xillix Technologies, Stressgen Biotechnologies, Avcorp Industries, Spectrum Signal Processing and Mainframe Entertainment - saw their values decline and were replaced by GenSci Regeneration Sciences, Uniglobe Travel Online, Systech Retail Systems, Silent Witness Enterprises, and Inflazyme Pharmaceuticals.
The total market value of the new top 20 is $10.78 billion as compared to a value of $10.53 billion for the replaced group. The entry threshold to the top 20 dropped slightly with the the 20th ranked firm - Inflazyme Pharmaceuticals - checking in at a $49.9 million market cap.
The next time you hear someone putting down our local exchange, remind them that, of the total value of the top 20, the companies that got their start on the VSE, like QLT and ALI, now account for almost 30% of the value of the index!
How are B.C.'s technology stocks faring compared to other B.C. stocks? Just compare the T-Net20 with the BIV100. The BIV100 tracks the top 100 B.C. stocks (including high tech). A $1000 investment in Jan'98 in tech stocks would have returned a 63% profit as compared to a loss of 9% in the broader market!