The Novonix Ltd (ASX: NVX) share price tumbled to another 52-week low today.

Novonix shares fell 10.58% to $1.1.395 each on the market today. For perspective, the
S&P/ASX 200 (ASX: XJO) slipped 0.3% while the S&P/ASX All Technology Index dropped 1.24%.

Let’s take a look at what could be impacting the Novonix share price.

What’s going on?

Novonix is a battery materials technology company. ASX tech shares struggled after the Nasdaq Composite fell 1.38% in the US overnight.

Bond yields lifted higher, impacting growth shares including technology, CNBC reported. Truist Wealth co-chief investment officer Keith Lerner told the publication:

It’s basically the continuation of high yields depressing growth, with redistribution into other sectors that are smaller, but not big enough to change the headline index.

Novonix makes graphite anode materials for the lithium-ion battery supply chain. ASX lithium shares also struggled today. The Sayona Mining Ltd (ASX: SYA) share price sunk nearly 11% while Pilbara Minerals Ltd (ASX: PLS) shares fell nearly 4%.

It seems concerns about further interest rate rises and inflation could also be weighing on investor sentiment. Japan’s inflation lifted at its fastest pace since 1981 in November, Bloomberg reported.

Novonix reported a $71 million loss in the 2022 financial year. Higher interest rates also mean debt costs more.

In recent company news, Novonix recently downgraded its graphite anode materials production from the Riverside facility in the US. It is now expecting to produce 3,000 tonnes per annum (tpa) starting in 2024. As my Foolish colleague James reported, this is a significant drop from the company’s plan to produce 10,000 tpa of synthetic graphite in 2023.

Share price snapshot

The Novonix share price has fallen 84% in the last year.

For perspective, the ASX 200 has lost 4.5% in a year.

The post Why did the Novonix share price sink to a new 52-week low today? appeared first on The Motley Fool Australia.

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More reading

• Why Block, Life360, Pilbara Minerals, and Syrah shares are dropping today
• What can ASX lithium share investors learn from Tesla discounting its cars?
• Here are the 10 most shorted ASX shares
• 5 ASX lithium stocks to buy in 2023: brokers
• Is Core Lithium the next Pilbara Minerals?

Motley Fool contributor Monica O’Shea 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 Scott Phillips.

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After a really rough year, investors may wonder which ASX shares could be good performers in 2023.

2022 has seen plenty of volatility amid strong inflation and rising interest rates. But, just because conditions are difficult doesn’t mean there aren’t opportunities to be found. In fact, the lower share prices could mean there are better-priced opportunities.

The Australian Financial Review (AFR) asked for some recommendations from a number of fund managers that pick stocks for free for the Future Generation listed investment companies (LICs) of Future Generation Investment Company Ltd (ASX: FGX) and Future Generation Global Investment Co Ltd (ASX: FGG).

Here are three of the ASX shares that were chosen.

Seek Ltd (ASX: SEK)

Seek is the operator of a large employment website in Australia. It also has a presence in a number of other countries including Singapore, Brazil, Mexico, the Philippines and Vietnam.

According to the newspaper, Kyle Macintyre, investment director at Firetrail Investments, chose Seek as an opportunity after weakness in the Seek share price. It’s down 40% in 2022 to date. Growth in Seek’s Asian businesses is one of the things that Firetrail is attracted to.

The fund manager noted that the labour market may be weaker, hurting advertisement volumes and revenue. However, Macintyre pointed out that Seek is the market leader and, therefore, it has “underappreciated pricing power which can offset any potential slowdown in job ad volumes, allowing Seek to grow earnings despite the tougher macroeconomic environment”.

Ramsay Health Care Ltd (ASX: RHC)

Private hospital operator Ramsay Health Care is one of the world’s leading businesses in the sector, with a large presence in Australia, the United Kingdom and Europe. It was close to being taken over recently, but remains listed on the ASX.

The Ramsay share price is down more than 20% from April 2022. The AFR reported that Jun Bei Liu from Tribeca Investment Partners chose Ramsay thinking the ASX share can recover. While it does have a higher level of debt, this will seem “more reasonable” as hospital admissions “normalise” and COVID impacts subside. Jun Bei Liu said:

Ramsay is now very well positioned for a rapid recovery in earnings given the backlog of patients waiting for surgery in Australia, the Nordics and especially the UK. We are confident this will support elevated surgical volumes for an extended period.

RPMGlobal Holdings Ltd (ASX: RUL)

This ASX share may be the smallest of the three names by far, but it could have plenty of potential according to James Sioud, a portfolio manager from Regal Funds Management.

The RPMGlobal share price has dropped around 20% in the year to date.

But, good commodity prices could enable ASX mining shares to spend more on their tech budgets. The fund manager also said that the company’s position is boosted by “solid pricing power and switching costs”. The AFR quoted Sioud, who explained:

Whilst the mining industry has adopted cloud-based software much slower than other industries, we believe this transition is inevitable. RPMGlobal has spent the last decade preparing for this structural shift, spending almost $200 million building or acquiring software products, all of which are now cloud-enabled.

Foolish takeaway

It will be interesting to see how these three ASX shares perform and whether they are able to beat the market because of the reasons these fund managers have outlined.

The post 3 ASX shares tipped for market-beating returns in 2023: experts appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Here are 2 of the best ASX growth shares to buy in December: Morgans
• 5 popular ASX 200 stocks I’m avoiding, plus one that still looks dirt cheap
• 3 ASX 200 tech shares to buy now before the market wakes up: expert
• 3 best-performing ASX 200 healthcare shares in November

Motley Fool contributor Tristan Harrison has positions in Future Generation Global Investment Company and Future Generation Investment Company. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended RPMGlobal. The Motley Fool Australia has recommended RPMGlobal and Seek. 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 200 Index (ASX: XJO) are on course to start the week with a small decline. In afternoon trade, the benchmark index is down 0.3% to 7,086.8 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Block Inc (ASX: SQ2)

The Block share price is down 2% to $88.73. This follows a poor night of trade for the payments company’s shares on the NYSE on Tuesday night. Investors were selling Block and other tech shares on Wall Street amid concerns over rising interest rates.

Life360 Inc (ASX: 360)

The Life360 share price is down 6% to $4.77. Tech shares have come under pressure on Wednesday following the aforementioned weakness on Wall Street. Loss making tech shares have been hit hardest. This has led to the S&P/ASX All Technology Index falling by almost 1% this afternoon.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is down 3.5% to $3.66. Investors have been selling lithium miners again on Wednesday following a very poor night for their peers on Wall Street. The likes of Albemarle and SQM fell over 5% overnight, with Livent Corp not far behind with a 4% decline. Investors appear concerned over the outlook for lithium prices amid falling demand for electric vehicles.

Syrah Resources Ltd (ASX: SYR)

The Syrah Resources share price is down 11% to $2.07. This also appears to have been driven by concerns over falling electric vehicle demand. Syrah is looking to supply the lithium battery industry with graphite from its operations in Africa and North America.

The post Why Block, Life360, Pilbara Minerals, and Syrah shares are dropping today appeared first on The Motley Fool Australia.

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More reading

• What can ASX lithium share investors learn from Tesla discounting its cars?
• 5 things to watch on the ASX 200 on Wednesday
• 5 ASX lithium stocks to buy in 2023: brokers
• Here are 3 ASX growth shares analysts rate as buys in 2023
• Is Core Lithium the next Pilbara Minerals?

Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360. 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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ASX 200 gold shares are pushing higher on the market today.

Gold shares in the green include Evolution Mining Ltd (ASX: EVN), Newcrest Mining Ltd (ASX: NCM), and Northern Star Resources Ltd  (ASX: NST).

So why are ASX 200 gold shares on the rise today?

Gold price rises

Evolution shares are rising 1.68% today, while Northern Star shares are up 1.17%. Meanwhile, the Newcrest Mining share price is climbing 1.37% today.

All these ASX 200 gold shares are major producers of gold.

The gold price pushed higher overnight, as my Foolish colleague James reported this morning.

Spot gold lifted to its highest level in six months amid China’s reopening optimism weighing on the US dollar, Reuters reported.

Commenting on the gold price, RJO Futures senior market strategist Bob Haberkorn told the publication:

Gold is following the decisions by China to further ease COVID restrictionson the anticipation of higher demand from the region and in spite of rising yields.

The spot gold price is currently fetching US$1,817.60 an ounce, according to CNBC.

Share price snapshot

The Northern Star share price has risen 21% in the last year.

The Evolution Mining share price has fallen 25% in the past 52 weeks.

The Newcrest share price has slid nearly 13% in the past year.

The post Why are ASX 200 gold shares having such a top run today? appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Wednesday
• Why BWX, Earlypay, Evolution, and Pointsbet shares are dropping today
• 5 things to watch on the ASX 200 on Friday
• 5 things to watch on the ASX 200 on Thursday
• Could ASX 200 gold shares be ‘at another pivot point’?

Motley Fool contributor Monica O’Shea 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 Scott Phillips.

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