The Dubber Corp Ltd (ASX: DUB) share price is soaring today despite no news having been released by the company.

Dubber stocks have broken through its point of resistance to reach its highest price since before it shifted from gold mining to technology in 2015.

Dubber now operates a call recording, management, and access service through its cloud-based platform.

Right now, the Dubber share price is $3.40, 5.26% higher than its previous close.

However, earlier today the Dubber share price reached $3.44, representing a 6.5% gain.

Let’s take a look at what might be driving Dubber higher today.

The latest from Dubber

The last time we heard from Dubber was just last week when the company announced a successful capital raise.

Its unclear whether the gains the Dubber share price is experiencing today is a belated reaction to the announcement.

Last Tuesday, Dubber announced it successfully underwent an institutional placement as part of a $110 million capital raise.

The placement announced by Dubber was the first tranche of a 2 tranche capital raise.

As part of the first tranche, more than 33 million Dubber shares were offered for $2.95 a piece.

The second tranche is dependent on shareholder approval and is expected to take place in September.

The company didn’t state what it plans to use the funds for.

However, Dubber’s CEO commented on a “unique opportunity” that would allow the company to “not only become one of Australia’s leading technology companies, but a true global leader in our field”.

The company also stated it plans to increase its reoccurring revenue by 156% to reach $100 million per year.

Dubber share price snapshot

The Dubber share price has been performing well on the ASX lately.

It has gained an impressive 94% since the start of 2021. It has also increased by 165% since this time last year.

The company has a market capitalisation of around $938 million, with approximately 257 million shares outstanding.

The post The Dubber (ASX:DUB) share price is soaring 5% today appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Dubber Corporation. The Motley Fool Australia owns shares of and has recommended Dubber Corporation. 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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The Coles Group Ltd (ASX: COL) share price has soared 7% this past month.

Shares in the supermarket giant started the month of July at around $16.75. At the time of writing, the Coles share price has continued its strong run, trading at around $17.95 today.

Let’s take a look at what’s been fueling Coles’ good performance this past month.

Lockdowns could be fueling the Coles share price

It seems the share price could be benefiting from increased consumer demand given the ongoing COVID-19 induced lockdowns.

With a majority of the Australian population experiencing some form of lockdown in the past month, essential businesses like Coles stood to benefit.

In its half-year report released earlier this year, the supermarket giant noted increased demand for in-home consumption had driven growth.

For the half-year, Coles reported an 8% increase in revenue to $20,569 million. This comprised supermarket sales of $17,800 million, liquor sales of $1,946 million and express sales of $632 million.

Coles provides attractive dividends

One of the most attractive aspects of owning Coles shares is their dividend.

Following its demerger from conglomerate Wesfarmers Ltd (ASX: WES) in 2018, Coles has been committed to providing shareholders with a high dividend payout ratio.

In 2020, the group paid an interim dividend of 30 cents per share. This was jacked up to 33 cents when Coles declared its interim dividend for 2021.

Outlook for the Coles share price

Recently, analysts from noted broker Goldman Sachs provided a positive outlook on the Coles share price.  

According to analysts, Coles offers solid long term growth prospects, a generous dividend policy, and defensive qualities.

Analysts slapped a buy rating on the supermarket giant, with a price target of $20.70 on its shares.

As a result, many investors will be tuning in this reporting season to see how the supermarket giant performed in the past financial year.

Coles is slated to report its earnings for FY2021 on Wednesday 18 August.

The post Here’s why the Coles (ASX:COL) share price is up 7% this last month appeared first on The Motley Fool Australia.

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Motley Fool contributor Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended COLESGROUP DEF SET and Wesfarmers Limited. 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a gain. At the time of writing, the benchmark index is up 0.25% to 7,494 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are charging higher:

Argosy Minerals Limited (ASX: AGY)

The Argosy Minerals share price 3.5% to 14.5 cents. Investors have been buying this lithium explorer’s shares following the release of an update on its Rincon Lithium Project in Argentina. According to the release, Argosy has secured plant and equipment items for its 2,000tpa lithium carbonate production operation. This means it is on track to complete the construction phase during the first quarter of 2022.

Genworth Mortgage Insurance Australi Ltd (ASX: GMA)

The Genworth Mortgage Insurance Australia share price has jumped 7% to $2.27. This follows the release of the mortgage insurance company’s half year results. Genworth Mortgage Insurance Australia reported a 21.1% increase in gross written premium revenue to $289.7 million and a statutory net profit of $59.4 million. The latter compares to a $90 million net loss in the prior corresponding period.

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan Energy share price has rocketed 18% higher to $11.78. This morning the lithium developer revealed that its Zero Carbon Lithium Project will produce negative carbon emissions. The release explains that Vulcan has found the project will remove 2.9 tonnes of carbon dioxide from the atmosphere for every tonne of lithium hydroxide monohydrate produced.

Zip Co Ltd (ASX: Z1P)

The Zip share price is up a further 2.5% to $7.98. This latest gain means the buy now pay later (BNPL) provider’s shares are up 20% this week. The catalyst for this has been the acquisition of Afterpay Ltd (ASX: APT) by Square. This has sparked hopes that Zip might become a takeover target as well. Particularly given recent speculation that Klarna has been building a strategic position in the company.

The post Why Argosy Minerals, Genworth, Vulcan, & Zip shares are charging higher appeared first on The Motley Fool Australia.

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• The Zip (ASX:Z1P) share price is zooming higher once more
• Here’s why the Argosy (ASX:AGY) share price is climbing today
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. 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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The Woolworths Group Ltd (ASX: WOW) share price is in the green today as the company announces it’s converting two Western Sydney supermarkets into online delivery hubs.

Woolworths’ Cecil Hills and Fairfield supermarkets will soon close temporarily as part of activity to support the company’s online delivery service.

Right now, the Woolworths share price is $39.49, 0.8% higher than its previous close.

Let’s take a closer at today’s news from Woolworths.

Supermarkets converted to online hubs

The Woolworths share price is up amid news two Western Sydney supermarkets will close.

Woolies will repurpose the supermarkets into online order distribution hubs. The new hubs will help the supermarket giant fill thousands more online orders each week.

Woolworths Fairfield will close to in-store customers at 10pm tonight.

All staff will continue to work at the hubs, charged with packing online orders.

The same fate awaits Woolworths Cecil Hills. It will close to in-store shoppers from 10pm on Friday.

According to Woolworths, they selected these stores to minimise the impact on local shoppers. Each site has between three and four Woolworths stores within a 5-kilometre radius.

Woolworths is also looking to hire 200 new staff members in Sydney to help deliver online and direct-to-boot orders.

Commentary from management

Woolworths’ operations manager for Western Sydney, Ian Roper, commented on the news that might be driving the company’s share price today:

The demand for online delivery continues to grow, particularly in Western Sydney, with more customers in self-isolation or seeking to limit their outings…

It’s an uncertain time for many in Sydney, and this will provide extra delivery capacity where it’s most needed to support the essential grocery needs of many more customers online.

Woolworths share price snapshot

The Woolworths share price has been having a good year so far.

It’s currently 13.77% higher than it was at the start of 2021. It has also increased by 12% since this time last year.

The retail monolith has a market capitalisation of $50 billion, with approximately 1.2 billion shares outstanding.

The post Woolworths (ASX:WOW) share price up as stores converted to online hubs appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. 

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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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