Weebit Nano CEO on a mission to convince investors that AI story remains intact
The semiconductor IP company is confident in its tech. Its bigger problem may be encouraging investors to stay patient.
At a time when the narrative around AI has captivated markets and made chipmaker Nvidia the third biggest company in the world, the CEO of the ASX’s own semiconductor design hopeful has a message for investors: all in good time.
Weebit Nano CEO Coby Hanoch will next week fly from the company’s Israel headquarters to Australia where he’ll meet with investors in Perth, Melbourne and Sydney and deliver his message that patience is a virtue.
Weebit Nano rose to prominence as a popular meme stock during the pandemic. Its share price then went on another run early last year but hasn't pushed on despite the tailwinds from the AI narrative. The stock is down 42% over the past year compared to an 11% rise for the All Ordinaries Index over the same period (and a 300% rise for Nvidia).
“I know how frustrated the shareholders are, a lot of them write to me,” Hanoch said. “I’m coming out to Australia to try to explain to people, it really is happening.”
