Month: May 2022

I think some ASX growth shares are now looking very attractive after the volatility we’ve seen this year.

Lower prices could mean better value for businesses that have growth planned for the long-term.

These three potential investments look like attractive propositions to me:

Xero Limited (ASX: XRO)

Xero is one of the largest ASX tech shares, I also think it’s one of the highest quality businesses.

It has an exceptionally high gross profit margin. In the FY22 result, its gross margin was 87.3%, an increase from 86% in FY21.

The company is achieving global growth and it can use the rapidly-growing gross profit to invest in areas, like marketing and subscriber tools, which can lead to more growth. FY22 operating revenue increased 29% to almost NZ$1.1 billion and subscribers rose 19% to 3.27 million.

While some investors may prefer that Xero generate more profit in the shorter term, I like that Xero said it will “continue to focus on growing its global small business platform and maintain a preference for reinvesting cash generated…to drive long-term shareholder value”.

Despite a 9% jump in the Xero share price on Friday, the ASX growth share is still down more than 40% this year, so it seems quite a bit cheaper.

Betashares Global Quality Leaders ETF (ASX: QLTY)

As the name implies, I think this exchange-traded fund (ETF) could be a quality idea.

There are four metrics that a company needs to rank well on to be potentially selected for this portfolio: a high return on equity and profitability, low amounts of debt, and earnings stability.

There are around 150 names in the global portfolio. The biggest weighting is 2.3%, so no business has a large position – there is diversification.

Some of the names in the portfolio include Johnson & Johnson, Pfizer, Meta Platforms, Novo Nordisk, Unitedhealth, Visa, AIA, Texas Instruments, Accenture, and Adobe.

The annual management fee of the ETF is 0.35%. This is relatively low compared to plenty of active fund managers that may charge 1% or more.

The QLTY ETF has seen a decline of around 20% since the beginning of the year, despite those quality metrics.

Australian Ethical Investment Limited (ASX: AEF)

Australian Ethical is a fund manager that wants to provide investors with investment products that align with their ethics.

The ASX growth share avoids areas such as tobacco, coal miners, and gas. Instead, Australian Ethical invests in businesses that are connected by its conviction that “their success is linked to society’s prosperity and the planet’s wellbeing”.

It is certainly true that the current market volatility is not helpful for the short-term direction of the company’s funds under management (FUM).

However, its FUM does continue to grow on longer-term time scales. Since the start of FY22, FUM has risen by 13% to $6.83 billion. During the three months to March 2022, the fund manager saw FUM inflows of around $0.24 billion.

Australian Ethical said that its positive net inflows for the quarter were driven by ongoing “strong” superannuation contributions. This includes the regular superannuation guarantee contributions together with rollovers from new customers joining.

Over the long-term, I think its FUM can keep growing, with a reduction of the management fees being a positive for attracting more investors.

I think the Australian Ethical share price is now more attractive after falling almost 60% since the start of 2022.

The post 3 top ASX growth shares I’d buy next week appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• Nearmap share price jumps 9% on Friday
• Why 5E Advanced Materials, Block, Neometals, and Xero shares are racing higher
• ASX 200 midday update: Block and Xero rebound, gold miners fall
• Tech turnaround: ASX 200 tech shares surge higher on Friday

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Adobe Inc., Australian Ethical Investment Ltd., Meta Platforms, Inc., Visa, and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Johnson & Johnson and has recommended the following options: long January 2024 $420 calls on Adobe Inc. and short January 2024 $430 calls on Adobe Inc. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended Adobe Inc., Australian Ethical Investment Ltd., and Meta Platforms, Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Although the S&P/ASX 200 Index (ASX: XJO) recorded a strong gain on Friday, it wasn’t enough to stop a sizeable decline over the five days. The benchmark index fell 1.8% to 7,075.1 points.

While a good number of shares dropped with the market, some fell more than most. Here’s why these were the worst performers on the ASX 200 last week:

Chalice Mining Ltd (ASX: CHN)

The Chalice Mining share price was the worst performer on the ASX 200 last week with a 24.5% decline. This appears to have been driven by the market volatility and weakness in a number of commodity prices. This includes nickel and copper, which are down 15% and 11%, respectively, since this time last month. Chalice has exposure to these metals at its Julimar Nickel-Copper-PGE Project.

Novonix Ltd (ASX: NVX)

The Novonix share price wasn’t far behind with a 20.5% decline. This is despite there being no news out of the battery technology company. However, a number of battery materials shares came under pressure last week as investors reduced their exposure to higher risk investments. This decline means the Novonix share price has now lost approximately two-thirds of its value in 2022.

Block Inc (ASX: SQ2)

The Block share price was out of form and dropped 19.6% over the five days. This followed a sharp decline by the payments giant’s NYSE listed shares. Investors were selling Block’s shares amid weakness in the tech sector, a significant drop in the bitcoin price, and the release of several less-than-bullish broker notes.

IGO Ltd (ASX: IGO)

The IGO share price was a poor performer and dropped 12.8% last week. This appears to have been driven by the aforementioned pullback in commodity prices and a sell down of battery materials shares. IGO’s operations have exposure to nickel and lithium.

The post These were the worst performers on the ASX 200 last week appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• Why did the Telstra share price rebound nearly 2% on Friday?
• Nearmap share price jumps 9% on Friday
• 3 ASX All Ordinaries shares leaping by more than 10% on Friday
• Here are the 3 most heavily traded ASX 200 shares on Friday

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. has positions in and has recommended Block, Inc. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Today, the S&P/ASX 200 Index (ASX: XJO) finished the week with a bang, paring back half of the week’s losses. At the end of the session, the benchmark index finished a sizeable 1.93% higher at 7,075.1 points.

A backdrop of buying on the US market last night spilled over into ASX shares today. Taking centre stage amid the buying frenzy on Friday were tech shares, with the sector soaring 7%. Other sectors making the most of the rally were real estate and healthcare. By the end of the day, investors were hard-pressed to find a company in the red.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Block Inc (ASX: SQ2) was the biggest gainer today. Shares in the fintech giant exploded 15.00% after analysts at Wolfe Research noted their belief that the Block share price had been oversold. Find out more about Block here.

The next best performing ASX share across the market today was Xero Ltd (ASX: XRO). The cloud accounting platform provider experienced a 9.44% surge in its share price today. It appears market participants looked upon the company more fondly amid firming across the tech sector. Uncover the latest Xero details here.

Today’s top 10 biggest gains were made in these ASX shares:

ASX-listed company	Share price	Price change
Block Inc (ASX: SQ2)	$114.88	15.00%
Xero Ltd (ASX: XRO)	$84.16	9.44%
Link Administration Holdings Ltd (ASX: LNK)	$4.42	8.87%
Event Hospitality and Entertainment Ltd (ASX: EVT)	$14.85	8.39%
Wisetech Global Ltd (ASX: WTC)	$41.02	7.27%
Magellan Financial Group Ltd (ASX: MFG)	$15.79	7.27%
Altium Ltd (ASX: ALU)	$27.00	7.14%
Yancoal Australia Ltd (ASX: YAL)	$5.62	6.84%
Viva Energy Group Ltd (ASX: VEA)	$2.83	6.39%
Netwealth Group Ltd (ASX: NWL)	$12.85	5.76%

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

More reading

• Why did the Telstra share price rebound nearly 2% on Friday?
• Nearmap share price jumps 9% on Friday
• 3 ASX All Ordinaries shares leaping by more than 10% on Friday
• Here are the 3 most heavily traded ASX 200 shares on Friday
• Block share price rebounds 15% as analyst calls sell-off overblown

Motley Fool contributor Mitchell Lawler has positions in Block, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Altium, Block, Inc., Link Administration Holdings Ltd, Netwealth, WiseTech Global, and Xero. The Motley Fool Australia has positions in and has recommended Block, Inc., Netwealth, WiseTech Global, and Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Link Administration Holdings Ltd (ASX: LNK) share price finished the session up 8.87% to $4.42 on Friday. In earlier trading, it hit an intraday high of $4.52 — 11% higher than yesterday’s closing price of $4.06. The whole market went up today with the S&P/ASX 200 Index (ASX: XJO) gaining 1.93%.

Today’s share price bump represents a strong recovery for Link Group following a tumultuous week for the soon-to-be taken over administration services company.

Subject to a shareholder vote, Link Group has accepted a takeover offer from the Canadian company Dye & Durham Ltd (TSE: DND). The offer is $5.50 per share via a scheme of arrangement. Completion is expected in June or July.

The explanatory booklet was released on Tuesday, revealing that Dye & Durham will fund the acquisition via a $3.5 billion term loan through various lenders. The problem with that is that the loan is more than three times the company’s market capitalisation.

What did this do to the Link share price?

On Wednesday, the Link share price plunged by more than 12% in the first half-hour of trading. It hit a new 52-week low of $4.19. The large fall, on a huge trading volume, prompted the ASX to pause trading.

Link responded to the ASX query saying it was “not aware of any reason for the decline in the share price and the elevated trading volumes today”. The company added: “Link Group is not aware of any material information about the proposed acquisition by Dye & Durham that is not in the Explanatory Booklet approved by the Supreme Court of New South Wales on 10 May 2022.”

As my Fool colleague James reported on Wednesday, the size of the loan “appears to have spooked investors and cast doubt on the deal closing”.

The Link share price has lost 9.8% over the past five trading days. The shares traded as low as $4.04 at one point yesterday. The Dye & Durham share price has also tanked by 19% over the same period.

What now?

Yesterday, Link released a letter to shareholders regarding the scheme booklet and scheme meeting to be held on 13 July. The Link board is unanimously recommending that shareholders approve the deal. Shareholders will also vote on a proposed capital return immediately after the takeover vote.

The post Why did the Link share price surge 11% on Friday? appeared first on The Motley Fool Australia.

More reading

• Why GrainCorp, Link, NAB, and Pendal shares are sinking today
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• The Link share price just tumbled 12% before being halted. What’s happening?
• ASX 200 midday update: Magellan names its new CEO, Link shares crash

Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Link Administration Holdings Ltd. 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 Scott Phillips.

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Well, the S&P/ASX 200 Index (ASX: XJO) has had a fantastic day of trading this Friday. The ASX 200 closed today up a pleasing 1.93% at 7,075 points after some heavy losses earlier in the week. As you might expect, the Telstra Corporation Ltd (ASX: TLS) share price also enjoyed some healthy gains.

Telstra shares ended up finishing the day at $3.93 each. That was up a solid 1.55%.

So what was behind this telco’s hefty rise this Friday?

Telstra share price ends the week on a high note

Well, we can’t say for sure. There were no news or announcements out of Telstra today, save for a routine share buyback notice. But Telstra has been putting one of these out most days in recent weeks, reflecting its ongoing share buyback program. Still, one can’t discount the value of these buybacks, they do theoretically boost shareholder returns.

But perhaps the most plausible explanation for Telstra’s share price moves today is that the telco has just been caught up in the goodwill of the markets. Telstra wasn’t immune to the sell-offs this week. It remains down 1.7% over the past five trading days, falling from $4 a share at the start of the week to $3.93 yesterday. Thus, it’s not too strange to see the company regain some ground today, especially in light of the ASX 200’s massive move upwards.

So that seems to be the most likely explanation as to why Telstra has enjoyed such a strong end to the trading week. No doubt it will make Telstra’s investors pleased as we enter the weekend.

At the current Telstra share price, this ASX 200 telco has a market capitalisation of $45.89 billion, with a dividend yield of 4.07%.

The post Why did the Telstra share price rebound nearly 2% on Friday? appeared first on The Motley Fool Australia.

More reading

• Here are the 3 most heavily traded ASX 200 shares on Friday
• Why is the Magellan share price up 7% today?
• ASX 200 midday update: Block and Xero rebound, gold miners fall
• The Soul Patts dividend is being paid today. Here’s what you need to know
• 2 ASX dividend shares that brokers are tipping as buys right now

Motley Fool contributor Sebastian Bowen has positions in Telstra Corporation Limited. 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 positions in and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Nearmap Ltd (ASX: NEA) share price has found some much-needed relief today as it rebounded alongside the ASX tech sector.

Shares in the aerial mapping company shot up 8.6% to a one-week high of $1.21 in after lunch trade. The Nearmap share price was trading at $1.19, up 7.2% at the close of trade on Friday.

ASX tech shares rebound

The outperformance comes as other IT shares on the S&P/ASX 200 Index (ASX: XJO) staged a 6.2% bounce – making the sector the top performer on the index on Friday.

Other ASX tech shares that surged by 8% or more today include Xero Limited (ASX: XRO), up 9% at the close; Brainchip Holdings Ltd (ASX: BRN), which jumped as high as $1.15 before closing at $1.12; and Block Inc CDI (ASX: SQ2), up 14.6% at the close.

What’s happening to the Nearmap share price?

The Nearmap share price has been heavily sold off along with its peers, more recently off the back of rising interest rates.

Higher borrowing costs depress the valuation of shares – particularly growth shares such as tech companies that trade on lofty multiples.

But the prediction by the Commonwealth Bank of Australia (ASX: CBA) boss Matt Comyn that interest rates won’t rise as much as the market is currently pricing, is a welcome relief to tech investors.

Comyn thinks rates could rise by another 100 basis points (bps), or 1 percentage point, instead of 200 bps as many economists are tipping.

If he’s right, the embattled ASX tech sector could find its feet sooner than the market is expecting.

Nearmap share price dives despite positive earnings news

Other good news for the Nearmap share price comes in the shape of its recent positive earnings update. Management said last month the company generated more than US$2 million in incremental annual contract value (ACV) from its government portfolio in North America in the March quarter alone.

This followed Nearmap’s report that its total ACV hit $150 million for the first time in its history.

The trading update should alleviate fears that growth is slowing, although these positive messages have been lost in the latest blood-curling market sell-off.

Foolish takeaway

Having said that, no one can say with any certainty if the painful correction in ASX tech shares is close to running its course.

At least investors know they won’t be buying the Nearmap share price at the peak of the market given that the shares have collapsed by more than 30% over the past year.

The post Nearmap share price jumps 9% on Friday appeared first on The Motley Fool Australia.

More reading

• 3 ASX All Ordinaries shares leaping by more than 10% on Friday
• Block share price rebounds 15% as analyst calls sell-off overblown
• Why 5E Advanced Materials, Block, Neometals, and Xero shares are racing higher
• Why is the BrainChip share price leaping 7% on Friday?
• ASX 200 midday update: Block and Xero rebound, gold miners fall

Motley Fool contributor Brendon Lau has positions in Block, Inc., Commonwealth Bank of Australia, and Nearmap Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc., Nearmap Ltd., and Xero. The Motley Fool Australia has positions in and has recommended Block, Inc., Nearmap Ltd., and Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Wesfarmers Ltd (ASX: WES) share price is back on form on Friday.

In late afternoon trade, the conglomerate’s shares are up 2.5% to $49.94.

Where next for the Wesfarmers share price?

Opinion is divided on the Wesfarmers share price, with two leading brokers recently giving polar opposite recommendations.

For example, earlier this week, the team at Goldman Sachs reiterated its sell rating and $38.60 price target. This implies potential downside of almost 23% for investors over the next 12 months.

Goldman stated that its bearish view is predicated on “softening discretionary goods spend (-2% 2022-24e vs +5% FY19-22e) against increasing competition from online pureplays including Amazon.”

The broker feels that this will lead to Wesfarmers’ earnings coming in below consensus in FY 2023 and FY 2024.

[We] are -2.4% and -6.3% below consensus for FY23/24 EPS, specifically, we are well below consensus on Kmart group on rising competition and inventory disruptions as well as margin reversion post COVID. The company does note that they are not yet seeing material interruptions as they were able to divert away from Shanghai Port earlier and also a higher level of local inventory well insulated operations.

Who is bullish?

The team at Morgans don’t appear to agree with Goldman’s view on the Wesfarmers share price.

In fact, earlier this month, the broker named it as one of its best ideas for the month of May.

WES possesses one of the highest quality retail portfolios in Australia with strong brands including Bunnings, Kmart and Officeworks. The company is run by a highly regarded management team and the balance sheet is healthy. While COVID-related staff shortages are a challenge, the core Bunnings division (>60% of group EBIT) remains a solid performer as consumers continue to invest in their homes. We see the recent pullback in the share price as a good entry point for longer term investors.

Morgans has an add rating and $58.50 price target on the company’s shares. Based on the current Wesfarmers share price, this suggests potential upside of 17% for investors.

The post Where next for the Wesfarmers share price? appeared first on The Motley Fool Australia.

More reading

• Own ASX 200 retail shares? Here’s how the majors are tackling climate change
• Analysts name 2 ASX dividend shares to buy to beat inflation
• Why is the Wesfarmers share price beating the ASX 200 this week?
• Leading brokers name 3 ASX shares to sell today
• 2 ASX shares to buy as Aussies tighten their belts

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. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Thursday saw the long-awaited launch of the ETFS 21Shares Bitcoin ETF (CXA: EBTC).

As the Motley Fool reported here yesterday, EBTC joined Cosmos-Purpose Bitcoin Access ETF (CXA: CBTC), which also premiered on the Cboe Australia exchange on Thursday.

EBTC and CBTC are the first Bitcoin (CRYPTO: BTC) exchange-traded funds (ETFs) Down Under to invest in the crypto itself, rather than related assets and crypto companies.

Atop those two new crypto ETFs, the ETFS 21Shares Ethereum ETF (CXA: EETH) made its debut yesterday as well, also on Cboe rather than the ASX.

First day marred by UST crypto implosion

First-day trading volumes in all three ETFs came in below expectations. That was most likely in good part due to the turmoil gripping crypto markets yesterday, following the implosion of not-so stablecoin TerraUSD (CRYPTO: UST) and the token meant to keep it pegged to the US dollar, Terra (CRYPTO: LUNA).

Nonetheless, Cboe Australia’s CEO Vic Jokovic sounded an optimistic note in looking forward (courtesy of The Australian Financial Review).

“Investors have embraced this latest market innovation by trading across all three new funds on day one,” he said. “We’re looking forward to watching the funds’ progress over time.”

How is the Bitcoin ETF (EBTC) performing compared to the ASX?

With the end of day two of trading fast approaching, here’s how the Bitcoin ETF (EBTC) is performing today compared to the ASX.

In truth, both are having an excellent day.

Following yesterday’s sharp fall, the All Ordinaries Index (ASX: XAO) is up 1.8% in late afternoon trading.

EBTC is charging well ahead of that, up 13.6%, with $315,000 worth of trades transacted so far today. That gain is largely in line with gains in the Bitcoin price since the token’s plunge amid yesterday’s wider crypto rout.

CBTC, meanwhile, is up 14.0%. While the Ethereum (CRYPTO: ETH) ETF, EETH has gained 15.2%.

With those kinds of gains coming in on day two, volume levels may also pick up over the coming days.

The post How is the Bitcoin ETF (EBTC) performing compared to the ASX on Friday? appeared first on The Motley Fool Australia.

More reading

• Could the next crypto collapse flow through to ASX shares?
• Crypto crash: Why Bitcoin, Ethereum, and Dogecoin are struggling again
• Is this the start of a long crypto winter?
• How are Australia’s Ethereum and Bitcoin ETFs faring on their first day?
• Bitcoin price plunges below US$30,000. What’s going on?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin, Ethereum and Terra. The Motley Fool Australia has positions in and has recommended Bitcoin, Ethereum and Terra. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Flight Centre Travel Group Ltd (ASX: FLT) share price is heading north on Friday afternoon.

This comes despite the travel agent not releasing any price-sensitive announcements today.

At the time of writing, Flight Centre shares are climbing 1.51% to $19.55.

What’s driving Flight Centre shares higher?

Investors are buying up Flight Centre shares after dropping more than 8% in the past week.

It appears bargain hunters are taking advantage of the share price weakness following 5 trading days of consecutive losses.

Earlier this month, Flight Centre stated a recovery in the travel market was well underway given that COVID-19 restrictions have eased.

As the world is learning to live with the virus, the company recorded a strong performance in March.

As such, $8 million in earnings before interest, tax, depreciation and amortisation (EBITDA) was achieved for the month.

Flight Centre said that the global corporate business is now profitable and the leisure business is approaching breakeven.

Furthermore, total transaction value (TTV) is strongly rebounding across the globe, with March figures at 59% of pre-COVID levels.

This has led to $2 million in operating cash inflow whilst management continues to invest in areas that drive profitability.

Flight Centre anticipates a full year underlying EBITDA loss of around $195 million to $225 million. This compares to the underlying EBITDA loss of $184 million during the first half of FY22.

Flight Centre share price summary

Since this time last year, Flight Centre shares have travelled 31% higher as the travel sector begins to open up.

When looking at year to date, its shares have pushed slightly ahead, with a 10% gain.

On valuation grounds, Flight Centre commands a market capitalisation of roughly $3.91 billion.

The post Why is the Flight Centre share price picking up altitude today? appeared first on The Motley Fool Australia.

More reading

• Broker says Flight Centre share price could takeoff and rise 24%
• When was the best ever day on the Flight Centre share price chart?
• Unprecedented: Does this event mean we’re now in a bear market?
• Leading brokers name 3 ASX shares to buy today
• Are ASX 200 travel shares already fully valued in May?

Motley Fool contributor Aaron Teboneras 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 recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX All Ordinaries Index (ASX: XAO) is rising 1.86% at the time of writing. There are a few ASX All Ordinaries shares that have also gone up strongly.

In plenty of cases, this is just a reversal of the declines that companies saw in the previous day(s).

But these three businesses are seeing very large gains:

Cettire Ltd (ASX: CTT)

The Cettire share price is currently up by 16.5%. However, the company is still down by 85% since the start of 2022.

Cettire is a global e-commerce player that sells luxury personal goods. It has a catalogue of around 1,700 luxury brands and 200,000 products across clothing, shoes, bags, and accessories.

The most recent news that investors have seen from the ASX All Ordinaries share was its update for the third quarter of FY22.

Year-on-year, sales revenue increased by 163% to $48.7 million, the number of active customers rose by 185% to 246,800 and the number of unique website visits soared by 269%. The company said more than 50% of gross revenue came from repeat purchasers.

Block Inc (ASX: SQ2)

The Block Inc share price is up by 14.2% at the time of writing. However, Block shares are down around 35% since listing on the ASX in January 2022.

This company is a payments business that includes Square and the buy now, pay later business Afterpay.

Block recently announced its quarterly update for the three months to 31 March 2022. It reported that transaction-based revenue rose by around 28% to US$1.23 billion. Subscription and service-based revenue increased by 72% to US$959.6 million.

However, Bitcoin revenue dropped around 50% to US$1.73 billion. This led to total net revenue falling by 22% to US$3.96 billion.

The All Ordinaries ASX share reported a net loss for shareholders of US$204 million.

5E Advanced Materials Inc (ASX: 5EA)

The 5E Advanced Materials share price is currently up by 11.2%. Since the company listed on the ASX on 1 March 2022, 5E Advanced Materials shares are up 7.8%. However, they are still down more than 12% since 4 May 2022.

This business wants to become a vertically integrated global leader and supplier of boron specialty and advanced materials to enable decarbonisation. It’s expecting boron and lithium products will target applications for electric transportation, clean energy, food, and domestic security.

The latest that the ASX All Ordinaries share has revealed was its update for the three months to 31 March.

It said that average boric acid prices increased by more than 50% during the first three months of the 2022 calendar year. It noted there are favourable market dynamics and “continued strong demand”.

The company wants to become an “important participant” in the US lithium market. A small-scale boron facility targets mechanical completion in the last quarter of the 2022 calendar year, after ‘breaking ground’ in April 2022.

Planning for the proposed large-scale complex is progressing.

A letter of intent has been signed for boron advanced material that focuses on industrial and military applications.

The post 3 ASX All Ordinaries shares leaping by more than 10% on Friday appeared first on The Motley Fool Australia.

More reading

• Block share price rebounds 15% as analyst calls sell-off overblown
• Why 5E Advanced Materials, Block, Neometals, and Xero shares are racing higher
• ASX 200 midday update: Block and Xero rebound, gold miners fall
• Blast off! Why is the Zip share price zooming on Friday?
• Tech turnaround: ASX 200 tech shares surge higher on Friday

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc. and Cettire Limited. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool Australia has recommended Cettire Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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