Author: therawinformant

Resolute Mining Limited (ASX: RSG) shares surged 5.0% higher in yesterday’s trade and now boast a market capitalisation over $1 billion.

Shares in the Aussie gold miner jumped higher thanks to further uncertainty in global and domestic share markets. But despite the strong gains in recent days, is the ASX gold share a strong buy right now?

What does the Aussie miner do?

Resolute is a leading ASX-listed gold miner with operations across Africa. The group generates strong production numbers from its assets in Mali, Senegal and Ghana.

However, unlike many of its listed rivals, the Resolute Mining share price has been under pressure in 2020. In fact, the ASX gold share has slumped 23.0% lower this year to underperform the S&P/ASX 200 Index (ASX: XJO).

Why Resolute Mining shares could be in the buy zone

Yesterday’s strong gains came on the back of an update on its Syama mine and updated guidance.

Resolute said negotiations with the Mali labour union representing its workers have resulted in the cancellation of further planned strike action.

That’s good news for Resolute’s operational certainty and potential production levels. The Aussie gold miner upgraded guidance based on the higher degree of certainty and resolved industrial relations dispute.

Resolute is now forecasting total 2020 production between 400,00 and 430,000 ounces of gold at an all-in sustaining cost (AISC) of US$980 to US$1,080 per ounce.

That saw the Resolute Mining share price shoot higher but it still remains down for the year.

With soaring gold prices and strong production levels on the horizon, I think the ASX gold share could be worth a look at its current valuation.

Of course, there is still some operational risk involved and I’d argue that another miner like Saracen Mineral Holdings Limited (ASX: SAR) is a safer bet.

However, Resolute could offer potential capital gains on top of its 1.5% dividend yield.

More reading

• 3 profitable October ASX 200 trends
• Is the Mesoblast (ASX: MSB) share price still good value?
• Are ASX travel shares like Webjet (ASX:WEB) set to soar?
• Here are the 10 most popular ETFs on the ASX
• ASX 200 finishes flat, A2 Milk shares drop 10%

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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 overwhelming trend of October trading will be defined by access to credit. Since March, the Federal Government has intervened many times in the economy. This has included loan payment deferrals, wage subsidies, rent deferrals, and bankruptcy protection. The S&P/ASX 200 Index (ASX: XJO) is likely to be rocked as the Government looks to reduce dependence on government funding. 

For example, Federal Treasurer Josh Frydenberg has made two dramatic changes in the past few weeks. First, bankruptcy laws have changed to help companies trade out of insolvency. The changes to responsible lending are, of course, the second. Consequently, I expect to see higher levels of credit and spending. Furthermore, and likely to be the biggest impact, is the reduction to wage subsidies and JobSeeker payments. 

Wage subsidies

Reductions in government payments will have many impacts. For example, revenue for ASX 200 discretionary retail companies like Premier Investments Limited (ASX: PMV) is likely to be lower. Nevertheless, buy now, pay later transactions through companies like Zip Co Ltd (ASX: Z1P) will increase as people use BNPL companies to extend their purchasing power.

One of the companies that I believe will see higher activity is Credit Corp Group Limited (ASX: CCP). On one side, the company is likely to see higher loan volumes through its series of payday lending companies. On the other hand, it will see a further rise in companies looking to sell bad debts. 

Easier credit

The big ASX 200 winners here will be those directly involved in the mortgage or car sales markets. Starting in October with ASX 200 shares like Westpac Banking Corp (ASX: WBC) potentially seeing a rise in share price. Moreover, companies like Carsales.Com Ltd (ASX: CAR), and REA Group Limited (ASX: REA) should also see increased sales volumes. Lastly, building materials firms like Boral Limited (ASX: BLD) or James Hardie Industries plc (ASX: JHX) will see sales start to ramp up as housing starts to turn.

ASX 200 bankruptcy protection

Treasurer Frydenberg has flagged a change in bankruptcy laws. This provides companies with debts less than $1 million 20 days to restructure debts, followed by 15 days for approval. During this period, the business owner would also have protection from unsecured and some secured creditors. This is likely to impact ASX 200 shopping mall operators such as Scentre Group (ASX: SCG) and Vicinity Centres (ASX: VCX).

It means a second opportunity for many of their tenants, thus saving money on re-tenanting, shop repairs, as well as keeping vacancies low.

More reading

• Are Resolute Mining (ASX: RSG) shares as good as gold?
• Is the Mesoblast (ASX: MSB) share price still good value?
• Are ASX travel shares like Webjet (ASX:WEB) set to soar?
• Here are the 10 most popular ETFs on the ASX
• ASX 200 finishes flat, A2 Milk shares drop 10%

Daryl Mather has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited. The Motley Fool Australia has recommended carsales.com Limited and REA Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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 A2 Milk Company Ltd (ASX: A2M) share price was hammered on Monday, but I think there could be a chance to buy.

Why was the a2 Milk share price hammered?

Shares in the Kiwi dairy group fell 11.4% lower to $15.20 per share by Monday’s close. That came on the back of an earnings update which flagged a weaker outlook for FY21.

a2 said that disruption to its lucrative ‘daigou’ channel is starting to hit the company’s earnings figures. That’s especially the case with the ongoing coronavirus restrictions in Victoria at the moment.

Daigou is the term used to describe individuals or groups that purchase items outside of China to send back to Chinese customers. Infant formula is one of the major items in the daigou trade which contributes approximately a third of a2 Milk’s revenue.

a2 is forecasting half-year revenue down 3.9% to 10.1% to between NZ$725 million to NZ$775 million. Full year revenue is expected to increase by 4.0% to 9.8% in a range of NZ$1.8 billion to NZ$1.9 billion.

Investors were bearish on the latest update and sent the a2 Milk share price plummeting lower in Monday’s trade.

Is the Kiwi dairy share in the buy zone?

The other concern that I have is the heavy insider selling we’ve seen in recent times.

According to an article in the Australian Financial Review, some heavy-hitters have been selling down. That includes big sales from a2’s CEO and chair when the a2 Milk share price was at a record high in late August.

However, the big dip could see investors tempted to buy back in. Today’s update said that China sales remained otherwise strong and growth was tracking well.

That could be good news for future growth beyond yesterday’s share price slump. A 11.4% dip suggests it could have been oversold and is a buy right now. 

That’s especially the case if we see further insider buying in the coming days.

More reading

• Where to invest $1,000 into ASX shares today
• ASX 200 finishes flat, A2 Milk shares drop 10%
• I think it’s time to jump on the A2 Milk (ASX:A2M) share price
• 2 ASX shares I think are cheap today
• ASX 200 up 0.1%: a2 Milk crashes lower, Flight Centre and Webjet surge higher

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of A2 Milk. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Should you buy the dip in the a2 Milk (ASX:A2M) share price? appeared first on Motley Fool Australia.

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The Mesoblast limited (ASX: MSB) share price rocketed 12.0% higher to lead the S&P/ASX 200 Index (ASX: XJO) winners in yesterday’s trade.

Shares in the Aussie biotech company were in high demand and trading at a new 52-week high despite no new announcements on the ASX. So, what’s driving the Mesoblast share price higher right now and should we all be jumping on board?

Why the Mesoblast share price is on the move

Once again it’s anticipation surrounding a big announcement that is pushing the Aussie biotech’s value higher.

Mesoblast’s value surged last month after meetings with the US Oncologic Drugs Advisory Committee (ODAC) as well the US Food and Drug Administration (FDA).

The FDA is set to review the use of Mesoblast’s remestemcel-L treatment, known as RYONCIL, for acute graft versus host disease on Wednesday.

Investors are clearly banking on that being a positive result after ODAC’s recommendation last month.

Following yesterday’s move, the Mesoblast share price has now rocketed 169.3% this year to $5.50 per share.

Is it still good value at $5.50 per share?

I think the value-add is a little more questionable at the current Mesoblast share price.

It’s easy to get caught up in the hype and momentum behind a top ASX share. That’s especially the case in the biotech space in the current environment.

I think the investment proposition at this point is really about the growth story rather than the fundamentals. The FDA approval would be a huge boost for the company’s sales prospects in the United States.

Strong earnings could help underpin the Mesoblast share price valuation at $3.2 billion. That’s a very high multiple given the biotech company recently reported a full-year US$77.9 million loss.

Mesoblast could still be a participant in the coronavirus race. The company is looking at the possibility of treating COVID-19-induced acute respiratory distress syndrome. 

If you’re big on the healthcare and biotech sectors in early 2021 then Mesoblast could still be a good buy.

Foolish takeaway

The Mesoblast share price has been surging in 2020 but I think it’s bit too hot for my liking.

The FDA meeting has big implications for its potential sales but I don’t think I’ll be betting on the outcome of that decision by buying any time soon.

More reading

• Are Resolute Mining (ASX: RSG) shares as good as gold?
• 3 profitable October ASX 200 trends
• Are ASX travel shares like Webjet (ASX:WEB) set to soar?
• Here are the 10 most popular ETFs on the ASX
• ASX 200 finishes flat, A2 Milk shares drop 10%

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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 travel shares like Webjet Limited (ASX: WEB) are bouncing back strongly. The Webjet share price jumped 6.6% higher to close at $3.90 per share.

That’s good news for existing shareholders but is the Aussie travel company back in the buy zone?

Why the Webjet share price is surging

There are a couple of factors that I think are causing investors to buy into ASX travel shares right now.

The Webjet share price jumped as reports emerged of a potential Australia-New Zealand travel bubble by the end of the year. That’s good news for booking numbers if we see borders open across the Tasman.

Easing coronavirus restrictions across the state are also good news for domestic travel which could help boost Webjet earnings.

The Webjet share price is now up 58.9% for the year while the S&P/ASX 200 Index (ASX: XJO) has fallen 11.0% lower.

Is now the time to buy ASX travel shares?

I still think there are strong prospects for Aussie travel companies in 2020. The Webjet share price has jumped higher but it’s not the only one that I’ve got my eye on.

I think the fundamentals are there for the Corporate Travel Management Ltd (ASX: CTD) share price. Corporate Travel focuses on the business sector which could be more reliable than the leisure market in the short-term.

However, Corporate Travel does get a majority of its earnings from offshore which is a bit of a question mark.

I also think the Flight Centre Travel Group Ltd (ASX: FLT) share price could be one to benefit from an uptick in the leisure travel segment. 

Foolish takeaway

There’s still plenty of uncertainty ahead for ASX travel shares. However, I think those who wait until that uncertainty clears could miss out on gains.

There are some big risks with traffic numbers still near rock-bottom but that could offer rewards for value-minded investors.

More reading

• Are Resolute Mining (ASX: RSG) shares as good as gold?
• 3 profitable October ASX 200 trends
• Is the Mesoblast (ASX: MSB) share price still good value?
• Here are the 10 most popular ETFs on the ASX
• ASX 200 finishes flat, A2 Milk shares drop 10%

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited and Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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I think that some ASX shares could make great investments and could change your life.

It’s unlikely that a single investment can make you a millionaire. But an investment that turns out very well can lead to an attractive increase in net worth.

The growth in your wealth will depend on how much you invest and how much your investments grow.

I think a decently-sized investment into one (or more) of these ASX shares could change your life:

Pushpay Holdings Ltd (ASX: PPH)

Pushpay is a leading ASX growth share. It is aiming to hit US$1 billion of annual revenue in the coming years by servicing the large and medium US church sector. The sector reflects a very large opportunity.

In FY20 it processed US$5 billion of donations through its system, which was 39% higher than the previous year. This helped revenue grow by 32% in just one year to US$129.8 million. During the year it also acquired Church Community Builder, which should help organic revenue growth.

I think Pushpay could be an impressive market-beater from here because of its economies of scale. In FY20 the company grew its gross profit margin by five percentage points to 65% (up from 60%) and improved the earnings before interest, tax, depreciation, amortisation and foreign currency (EBITDAF) margin by five percentage points to 22% (up from 17%).

Ultimately, an ASX share should be judged by its profit growth. Its profit can grow even faster than its revenue if its margins keep rising.

In FY21 Pushpay is looking to at least double its FY21 EBITDAF to US$50 million. The Pushpay share price is currently trading at 38x FY21’s estimated earnings.

WAM Microcap Limited (ASX: WMI)

I think WAM Microcap could be one of the best listed investment companies (LICs) to own.

The investment team at Wilson Asset Management (WAM) target ASX share small caps with market capitalisations under $300 million. WAM Microcap has been very good at this since it listed in June 2017.

Since inception in June 2017, WAM Microcap’s portfolio has returned an average of 21.7% per annum before expenses, fees and taxes. That’s a strong return in my opinion.  

One of the benefits of LICs is that they can turn investment gains into dividends for shareholders. It has steadily increased its dividend since it started paying one a few years ago. It has also been paying special dividends.

With the strong portfolio returns, I think WAM Microcap is a good ASX share for steady capital growth and high levels of dividend income if the special dividends keep flowing with strong investment outperformance.

At the current WAM Microcap share price it offers a grossed-up ordinary dividend yield of 5.4%.

Redbubble Ltd (ASX: RBL)

Redbubble is one of the world’s leading online artist marketplace businesses.

The company has benefited from the shift to online shopping during this difficult period. The FY20 result saw Redbubble’s marketplace revenue increase by 36% with operating earnings before interest, tax, depreciation and amortisation (EBITDA) rising by 141%.

It started to allow artists to sell masks during the second half of FY20 which help drive revenue higher even faster. FY20 fourth quarter revenue increased by 73% and July 2020 revenue for the ASX share soared 132% with similar revenue levels in the first two weeks of August.

I believe Redbubble is going to do well again in FY21 and adding new product categories could improve its network effects even more.

Over time the company is targeting $1 billion of annual revenue, which gives it plenty of room to grow. There is also plenty of potential for the profit margins to keep improving.

At the current Redbubble share price it’s trading at 32x FY20’s free cashflow.

More reading

• 10 fantastic ASX shares to buy in October
• Top brokers name 3 ASX shares to buy next week
• How to be the next Warren Buffett with ASX shares
• $3,000 invested in these 3 ASX shares could make you a fortune over the next 10 years
• How to create a yearly income of $65,000 in dividends

Tristan Harrison owns shares of WAM MICRO FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of PUSHPAY FPO NZX. The Motley Fool Australia has recommended PUSHPAY FPO NZX. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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On Monday the S&P/ASX 200 Index (ASX: XJO) was out of form and started the week with a small decline. The benchmark index fell 0.2% to 5,952.3 points.

Will the market be able to bounce back from this on Tuesday? Here are five things to watch:

ASX 200 expected to storm higher.

The ASX 200 looks set to storm higher on Tuesday after a very positive start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 37 points or 0.6% higher this morning. On Wall Street the Dow Jones rose 1.5%, the S&P 500 climbed 1.6%, and the Nasdaq stormed a sizeable 1.9% higher.

Tech shares likely to rise.

It is starting to look like the tech rout on Wall Street is finally over. This follows a second consecutive night of strong gains for the tech-focused Nasdaq index. This could mean it will be a positive day for locally listed tech shares such as Appen Ltd (ASX: APX) and Xero Limited (ASX: XRO) on Tuesday.

Oil prices rise.

It could also be a good day for energy shares such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) on Tuesday after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 0.9% to US$40.61 a barrel and the Brent crude oil price has risen 1.3% to US$42.48 a barrel. Global economic recovery hopes supported oil prices.

Gold price rebounds.

The shares of Evolution Mining Ltd (ASX: EVN), Northern Star Resources Ltd (ASX: NST), and other gold miners could be on the rise today after the gold price rebounded. According to CNBC, the spot gold price is up 1.15% to US$1,887.60 an ounce on Friday night. This follows the softening of the U.S. dollar on Monday.

Coles dividend.

Coles Group Ltd (ASX: COL) becomes the first of a number of blue chip shares paying their shareholders dividends this week. The supermarket giant is scheduled to pay eligible shareholders a 27.5 cents per share fully franked final dividend today. Elsewhere, a large number of REITs are going ex-dividend this morning and are likely to trade lower.

More reading

• Leading brokers name 3 ASX shares to buy today
• 3 cheap ASX shares in the buy zone today
• How to make money by investing in ASX 200 shares
• ASX 200 Weekly Wrap: Bank shares push ASX 200 higher
• How this small-cap fund manager is shooting the lights out year after year

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 Xero. The Motley Fool Australia owns shares of Appen Ltd and COLESGROUP DEF SET. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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I continue to believe that ASX dividend shares are the best way for investors to generate an income in the current low interest rate environment.

Luckily, there are plenty of quality options for investors to choose from right now.

Two that I would buy today are listed below. Here’s why I like them:

BWP Trust (ASX: BWP)

The first ASX dividend share to consider buying is BWP. It is a real estate investment trust (REIT) that invests in and manages commercial assets across Australia. The majority of these assets are leased to home improvement giant, Bunnings Warehouse.

Due to the strength of the Bunnings business, and also the fact that the retail giant is owned by major BWP shareholder Wesfarmers Ltd (ASX: WES), I believe the company is in a strong position to grow its income and distribution at a consistent rate over the next decade. Based on the current BWP share price, I estimate that it offers investors a forward 4.4% yield.

Dicker Data Ltd (ASX: DDR)

Another dividend share to consider buying is Dicker Data. It is a leading wholesale distributor of computer hardware and software across the ANZ region. I’m a very big fan of the company due to its strong market position, growing vendor agreements, positive industry tailwinds, and its new distribution centre. Once the latter is constructed it will give Dicker Data significant room to expand its operations and boost its revenue.

Another positive is the way the company has been performing during the pandemic. For the first half of FY 2020, Dicker Data reported a 30.4% increase in half year profit before tax to $42 million. This means it is on course to lift its dividend to 35.5 cents per share this year. Based on the current Dicker Data share price, this equates to a fully franked 4.5% dividend yield.

More reading

• Will the Reserve Bank cut the cash rate again in October?
• Where to invest your Telstra (ASX:TLS) dividends
• Why retirees should buy these safe and strong ASX dividend shares
• 2 high yield ASX dividend shares to buy this week
• Why Dicker Data, Harvey Norman, Rhipe, & Senex shares are pushing higher

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Dicker Data Limited. The Motley Fool Australia owns shares of Wesfarmers Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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Exchange-traded funds (ETFs) have grown explosively over the past decade or 2 to become a mainstream way of investing in ASX shares (as well as other assets).

In a different manner to share investing, ETF investors pay special attention to an ETF’s underlying market capitalisation. That’s because an ETF with a small volume of funds under management (FUM) generally has a higher chance of being wound-up, or else encountering other issues like slippage. An ETF’s market cap doesn’t represent the value of the underlying securities, but the value of the capital invested in it.

As such, many investors see an advantage in going with a provider that offers the largest FUM base for the chosen asset class that investor wants exposure to.

So to meet this end, here are the largest 10 ETFs trading on the ASX today, listed in descending order of market capitalisation. The data comes from Commonwealth Bank of Australia (ASX: CBA)’s CommSec brokering platform.

The 10 most popular ETFs on the ASX

ASX ETF	Market Capitalisation
Vanguard Australian Shares Index ETF (ASX: VAS)	$5.83 billion
SPDR S&P/ASX 200 ETF (ASX: STW)	$3.62 billion
iShares S&P 500 ETF (ASX: IVV)	$3.3 billion
iShares Core S&P/SAX 200 ETF (ASX: IOZ)	$2.95 billion
Vanguard MSCI Index International Shares ETF (ASX: VGS)	$2.25 billion
BetaShares Australian High Interest Cash ETF (ASX: AAA)	$2.15 billion
Vanguard U.S. Total Market Shares Index ETF (ASX: VTS)	$1.92 billion
iShares Global 100 ETF (ASX: IOO)	$1.83 billion
Vanguard Australian Property Securities Index ETF(ASX: VAP)	$1.66 billion
Vanguard All-World ex-U.S. Shares Index ETF (ASX: VEU)	$1.59 billion

What does this ETF table tell us?

It’s no surprise that the top 2 funds are market-wide ASX index funds. These funds are popular for passive investing into every share in either the S&P/ASX 200 Index (ASX: XJO) — or the S&P/ASX 300 Index (ASX: XKO) in VAS’s case. If an investor is looking for simple, easy exposure to Australian shares, then these funds are a cheap and easy choice.

We also have a couple of US-focused ETFs as well in IVV and VTS. The US markets are especially popular for ASX investors as well as it has always been a safe and rewarding country to invest in. And with globe-dominating companies like Apple Inc (NASDAQ: AAPL) and Amazon.com Inc (NASDAQ: AMZN) at the top of these funds, it’s not hard to understand why.

VGS, VEU and IOO are also popular, with these ETFs providing an avenue for access to international shares outside the US. VEU excludes US companies entirely, while IOO and VGS blends companies like Apple and Amazon with other international giants like Nestle and Unilever.

Finally, we have 2 sector-specific ETFs with AAA and VAP. AAA is a cash-only ETF that invests in cash deposits and pays out dividend distributions every month. VAP instead tracks an index of REITs (real estate investment trusts) like Scentre Group (ASX: SCG) that are traded on the ASX and are a popular choice for income investors.

Foolish takeaway

Whilst an ETF’s size isn’t normally a deciding factor for most ASX investors, it’s still useful (and interesting, in my view) to see which funds, assets, and sectors attract the most interest.

More reading

• ASX 200 finishes flat, A2 Milk shares drop 10%
• Cimic (ASX:CIM) share price flat on new market updates
• 3 top ASX ETFs to buy for long-term growth
• ASX 200 up 0.1%: a2 Milk crashes lower, Flight Centre and Webjet surge higher
• ASX 200 shares to buy for housing boom

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon and Apple and recommends the following options: short January 2022 $1940 calls on Amazon and long January 2022 $1920 calls on Amazon. The Motley Fool Australia has recommended Amazon, Apple, and Vanguard MSCI Index International Shares ETF. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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Two men face 10 years’ in prison for alleged illegal share market manipulation.

Former director of Quantum Resources Ltd (now known as Nova Minerals Ltd (ASX: NVA)) Avrohom Mordechai Kimelman and Don George Evans of Inglewood, WA, appeared in Perth Magistrates’ Court on Friday facing multiple charges.

The Australian Securities and Investments Commission accused Kimelman and Evans of conspiring to manipulate NVA’s share price in November 2015.

Evans, who did not work for the company, acquired 1.5 million NVA shares on 5 and 6 November 2015. The corporate watchdog alleges he held inside information at the time.

The non-public tip related to NVA’s plans for a reverse-merger with a technology company from Israel. The combined company would have “likely” listed on the NASDAQ.

ASIC also alleges Evans told this information to other people between 4 and 6 November.

Records show NVA shares went from 3 cents at the end of October to 8 cents by 13 November 2015.

As well as the market manipulation charge, Evans faces 6 counts related to the acquisition of the shares and 3 counts involving telling others about the merger.

At the time of the alleged violations, a 10-year jail term was the maximum penalty for each of market manipulation, insider trading and forwarding inside information.

The maximum punishment was boosted in March 2019 to 15 years in prison.

The cases for both men were adjourned until 18 December.

More reading

• ASX 200 finishes flat, A2 Milk shares drop 10%
• Cimic (ASX:CIM) share price flat on new market updates
• 2 ASX tech shares I’d buy with $10,000 
• I think it’s time to jump on the A2 Milk (ASX:A2M) share price
• 3 top ASX ETFs to buy for long-term growth

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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