Day: January 3, 2021

Here’s why the Core Lithium (ASX:CXO) share price rocketed 45% higher today

asx share price increase represented by golden dollar sign rocketing out from white domes

The Core Lithium Ltd (ASX: CXO) share price has been an exceptionally strong performer again on Monday.

At one stage today, the lithium-focused mineral exploration company’s shares were up 45% to a record high of 21 cents.

When Core Lithium’s shares hit that level, it meant they were up 150% since Christmas Eve.

Why is the Core Lithium share price rocketing higher?

Core Lithium’s shares have been on fire over the last few trading days despite there being no news out of the company.

However, this strong rise has caught the eye of the Australian share market, leading to a please explain enquiry today.

Core Lithium responded by advising that it is “not aware of any information concerning CXO that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities.”

However, it did provide the market operator with an idea for why its shares may be in demand with investors right now.

What did Core Lithium say?

The company noted that its largest shareholder, Yahua International Investment and Development Co, has signed a five-year deal to supply lithium to Tesla.

This could prove to be a positive for Core Lithium as it has signed a binding offtake agreement with Yahua for 75,000 tonnes per annum of lithium spodumene concentrate.

It also pointed out that lithium prices have been rising and that it is the “most advanced new Australian lithium developer on the ASX and there are very few advanced Australian lithium projects for investors to build exposure to increasing lithium prices.”

Finally, the company notes that it has previously advised that it is receiving interest from new lithium parties for additional binding offtake and customer project finance agreements for its Finniss Lithium Project.

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Returns as of 6th October 2020

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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3 coronavirus stocks poised to soar in 2021

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

coronavirus stocks represented by vaccine vials alongside piles of cash

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Sure, 2020 will forever be known as the year of the COVID-19 pandemic. But 2021 just might be memorialized as the year the pandemic was defeated. Two COVID-19 vaccines have already received emergency use authorization (EUA) in the United States with a third vaccine also authorized in the United Kingdom.

The big stories in the new year, though, could come from vaccines that haven’t made it to market yet. It’s possible that the stocks of the companies developing these experimental vaccines will deliver tremendous gains over the next 12 months. Here are three coronavirus stocks that are especially poised to soar in 2021.

1. Novavax

Novavax Inc (NASDAQ: NVAX) ranked as the top-performing coronavirus stock of 2020 with a staggering gain of close to 3,000%. Can the biotech stock deliver another sizzling performance this year? Don’t be surprised if it happens.

The company expects to report results from a late-stage study of COVID-19 vaccine candidate NVX-CoV2373 conducted in the UK in early 2021. Novavax initiated another late-stage study in the US and Mexico last week. Look for results from this study sometime in the second quarter. 

If all goes well with these studies, billions of dollars will pour into Novavax’s coffers. The company has deals in place with several countries (including the US, UK, Australia, Canada, and New Zealand) to supply close to 300 million doses of NVX-CoV2373. 

This cash influx will help Novavax further explore the development of a COVID-19/flu combo vaccine. The biotech already has a promising flu vaccine candidate called NanoFlu that’s on track for regulatory submissions. 

2. Vaxart

Vaxart Inc (NASDAQ: VXRT) trailed behind only Novavax to become the No. 2 coronavirus stock of last year. It generated a sizzling return of around 1,600%. At one point in 2020, Vaxart’s shares were up more than 4,700% year to date. I think the stock could have a lot more room to run in 2021.

The company is currently evaluating its COVID-19 vaccine candidate VXA-CoV2-1 in a phase 1 clinical study. Results from the study are expected this month. Vaxart hopes to quickly advance its experimental vaccine into phase 2 testing if the phase 1 results are positive.

VXA-CoV2-1 stands out from the leading coronavirus vaccines. It’s a single-dose tablet instead of an injection. That makes Vaxart’s vaccine more convenient to take and to distribute and store. The experimental vaccine also appears to promote mucosal immunity (immune system responses that occur in mucosal membranes in the eyes, nose, and elsewhere). 

Despite its impressive performance last year, Vaxart’s market capitalisation remains below $700 million. With the advantages offered by VXA-CoV2-1, the biotech will be worth a lot more than that if its clinical studies of the COVID-19 vaccine candidate go well.

3. Altimmune

Altimmune Inc (NASDAQ: ALT) finished 2020 with its shares up close to 500%. By late July, the stock has soared more than 1,600% year to date. It’s possible that Altimmune could regain those highs this year.

The biotech’s COVID-19 vaccine candidate AdCOVID shares several things in common with Vaxart’s experimental vaccine. It only requires a single dose. It can be stored at room temperature for extended periods. And it appears to provide mucosal immunity. The major twist is that AdCOVID is an intranasal vaccine.

There’s one glaring problem for Altimmune right now, though. The US Food and Drug Administration (FDA) placed a clinical hold on a planned early stage clinical study of AdCOVID because it wants changes to the study’s protocols and additional manufacturing data.

I suspect that Altimmune will be able to quickly address the FDA’s concerns and move forward with its study of AdCOVID. The company even stated that it doesn’t expect the clinical hold will significantly change its overall timeline for the development of the vaccine. If AdCOVID delivers on its potential, Altimmune could be an under-the-radar COVID vaccine stock that skyrockets in 2021.

Remember the risks

Keep in mind that all three of these stocks are very risky. While their experimental COVID-19 vaccines look promising right now, there’s always a chance that they’ll disappoint in clinical testing. Novavax, Vaxart, and Altimmune are poised to soar in 2021, but they could easily sink instead. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

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*Returns as of June 30th

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Keith Speights has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Bill Identity (ASX:BID) share price is up today. Here’s why.

Investor touching a screen with a smiley face icon on it

Software company Bill Identity Ltd (ASX: BID) share price is up 1.27% today, after the company announced the appointment of a new chair.

At the time of writing, the Bill Identity share price is trading at $1.20, after rising by as much as 5 cents earlier in the day.

Who’s the new chair?

Bill Identity has appointed prominent Australian media executive Peter Tonagh as its non-executive chair, effective immediately. He will replace Geoff Kleemann, who has been serving as interim chair and will remain as a non-executive director.

Tonagh is the former CEO of Foxtel and News Corporation (ASX: NWS), having served as chief operating officer of both companies. He held the role of Foxtel’s chief financial officer for 9 years.

He also currently serves as chair of Sydney-based advanced analytics company, Quantium, and is the former lead independent director for Village Roadshow Ltd.

Most recently, Tonagh led a consortium to save newswire service, AAP, which now operates as a not-for-profit organisation.

The right leader for global expansion

According to today’s release, Tonagh’s appointment is Bill Identity’s latest step to becoming a major global player in the utility bill management sector.

It follows the company’s acquisition of United Kingdom-based energy management software business Optima Energy in December 2020. This was accompanied by a $15 million fully underwritten institutional placement.

Bill Identity managing director Guy Maine believes Tonagh will bring a wealth of business experience to the board, saying: “Peter has been involved in business transformation in several of his previous roles, and we look forward to drawing on that experience as we continue to expand our footprint in international markets.”

Tonagh was also happy with the new role, saying that the company has the potential to be a global leader in the sector in the coming years.

“I am excited to be joining the company as it accelerates its international growth strategy following the recent Optima acquisition,” he said.

Quick take on Bill Identity

Bill Identity provides utility spend management services through its cloud-based software platform.  The software helps businesses to manage their energy spend by automating manual processes which improve data visibility and control.

The $191 million market-cap company is yet to produce break-even, announcing its latest half-year FY20 loss of $6.9 million ending 30 June 2020.

Second-half revenue ending November 2020 has increased however, up 77% year-on-year to $9.4 million.

After its recent foray in the UK, the company is now eying the United States market. It believes the US potential is large, with additional opportunities to leverage accounts payable outsourcing over many different utility bills.

The Bill Identity share price has returned 16% over one year. It fell by as much as 50% in March 2020 before recovering to current levels.

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When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of June 30th

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Motley Fool contributor Eddy Sunarto has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Can the Redbubble (ASX:RBL) share price continue its run in 2021?

man holding bunch of balloons soaring through the air signifying asx share price rise

The e-commerce sector in Australia and New Zealand went from strength to strength in 2020.

According to the Salesforce Holiday Insights Hub and 2020 Holiday Predictions report, as reported by CMO, e-commerce sales increases in the region were the highest in the world, surging by 108% and 107% respectively in the second and third quarters of 2020.

The report reinforces the narrative that the coronavirus pandemic is continuing to impact shopping habits, with shoppers increasingly turning to online retailers. On that note, let’s take a closer look at the Redbubble Ltd (ASX: RBL) share price, one of the best performing ASX e-commerce shares of 2020. 

Redbubble share price outperforms in 2020 

Redbubble shares were among the top performing ASX shares of 2020, gaining nearly 400%.

Redbubble provides independent artists a platform to sell their creations and has enjoyed strong consumer demand for its unique and customised products. The company’s business model is powered by its loyal and growing artist community. New artists contribute to Redbubble’s marketplace growth, while more established artists provide sustained revenue for the platform. 

Changing retail landscape 

During its October 2020 annual general meeting, Redbubble highlighted several long-term retail trends that have emerged amidst COVID-19. The company quoted a number of consulting reports and publications including: 

  • Forbes, which said that after this crisis consumers will be more discerning with discretionary purchasing and will seek meaningful purchases, particularly made-to-order.
  • McKinsey, which highlighted the out-of-date sourcing model of the fashion industry which is characterised by long lead times, large order sizes and relatively low flexibility. It said that a transformation was needed, particularly in making sourcing more demand-driven and more sustainable on social and environmental dimensions.
  • Which PLM, which sees on-demand manufacturing as a possible solution to overstocking risks as well as facilitating reductions in inventory costs and lead times.

According to Redbubble, it is in a strong position to leverage these trends by meeting consumer desire for customisation, delivering products created by independent artists and providing a large product range manufactured on-demand. 

Accelerating revenue growth 

Redbubble’s revenue accelerated through the second half of FY20. Its revenue for the month of July surged 132% on the prior corresponding period. The company’s growing scale and global footprint has translated into a 141% year-on-year increase in operating earnings before interest, tax, depreciation and amortisation (EBITDA) from $6.3 million in FY19 to $15.3 million in FY20. The company expects further profitable growth and recent macro shifts in online activity to accelerate its growth momentum.

Foolish takeaway

The Redbubble share price has started 2021 with a boom, jumping by almost 8% today so far. It will be interesting to see whether the above mentioned trends continue to benefit the company in 2021 and how this is reflected in the Redbubble share price. 

These 3 stocks could be the next big movers in 2020

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

*Returns as of 6/8/2020

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Motley Fool contributor Lina Lim has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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