Category: Stock Market

I’m bloody lucky. I have, I’m pretty sure, the best job in the world.

I love business and investing.

I love analysis, and working out the relationship between different factors.

I love writing (and, as they say, it forces you to work out what you really think, which is a wonderful benefit).

And I love helping people get the most from their finances.

It might not surprise you that at one point I considered becoming a teacher (the kids are probably glad I didn’t!).

And why am I lucky?

Well, I have a job, and an employer, that lets me do all of that.

Sometimes, I write about investing. Sometimes about business. Sometimes about the economy. And sometimes about economic policy.

That’s a very broad remit. 

And when I do, my aim is to improve things – for our members and readers, obviously, but also for our broader society.

Why?

Well, selfishly on behalf of those people, a better society is better for all of us, including investors.

But also because I think we have a moral responsibility to do so.

Now, it’s impossible to divorce those two things, of course.

If I help people grasp the power of investing, of course some are going to join The Motley Fool.

And, I think we can help them, so I’m good with that.

But also, many won’t. Many will find other ways to use the insights I try to provide. And that’s totally fine with me.

Which is all preamble. Hopefully useful context, too.

Because I’m really pleased to let you know that The Motley Fool has decided to run a free week of live webinars, on YouTube, that we’re calling Financial Literacy Week.

Our aim?

To help people get their financial lives in order.

To give them (you?) the information and tools they need to wrest back control, and to set themselves on the right path.

Why?

I mean, it’s good for our brand. It exposes more people to our business. Those things are undoubtedly true. We might eventually get some of those people to become members of one of our services.

But if it was just about making a sale, we’d find some ‘shorter putts’. We’d throw more resources into getting current investors to use us. Or potential investors to start investing with us.

But we’re doing it, primarily, because we think we can help people who want to take control of their finances, but don’t know where to start.

And if we can, we think we should.

So we are.

Maybe you could benefit from rebooting your finances. Or maybe you know someone else who could. Or someone who needs to know what healthy financial habits look like.

That’s what we’re aiming to do.

Here’s what you need to know:

• Financial Literacy Week is free.

• It runs from February 26 to March 1.

• Each day that week, we’ll be live on YouTube.

• I’ll give you some actionable insights to help you get your financial life (back) on track.

• And we’ll answer as many of your questions as we can!

No, there are no silver bullets. And there’s no secret strategy.

You will have heard most of it before, too.

But our aim is to give it to you straight, in an easy-to-follow format.

Because, sometimes all we need is a bit of a push, and a few simple steps to follow.

That’s how you get the financial snowball rolling. And once it does, the results can be astounding.

I’m really excited we’re doing this – and proud that The Motley Fool is behind it.

I hope you’ll join us (and please let your friends and family know if you think they might benefit from it, too!)

Did I mention it’s free?

Click here to RSVP and get all of the details!

The post Announcing Motley Fool's Financial Literacy Week Event appeared first on The Motley Fool Australia.

More reading

• Why Breville, James Hardie, Seek, and Strike Energy shares are sinking like stones today
• BHP share price resilient ahead of Friday’s strike action
• 2 ASX All Ords shares getting crushed on earnings results
• Seek share price sinks 10% as hiring slowdown hits earnings
• How high could the ResMed share price climb?

Motley Fool contributor Scott Phillips 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is out of form and edging lower. At the time of writing, the benchmark index is down 0.1% to 7,605.6 points.

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

Breville Group Ltd (ASX: BRG)

The Breville share price is down 12% to $24.02. Investors have been selling the appliance manufacturer’s shares after its FY 2024 guidance fell short of expectations. Although Breville’s first-half earnings were in line with estimates, its guidance missed by around 4%.

James Hardie Industries plc (ASX: JHX)

The James Hardie share price is down 5% to $56.22. This is despite the release of the building materials company’s quarterly update, which revealed strong revenue and profit growth. James Hardie reported a 14% increase in global net sales to US$978.3 million and a 34% jump in adjusted EBITDA to US$280.4 million.

Seek Ltd (ASX: SEK)

The Seek share price is down 9% to $24.42. Investors have been selling the job listings company’s shares on Tuesday after it posted a 5% decline in revenue and a 24% drop in adjusted net profits after tax for the first half. Management advised that this reflects Australian and New Zealand paid job ads falling 20%.

Strike Energy Ltd (ASX: STX)

The Strike Energy share price is down 24% to 32 cents. This follows the release of an update on well testing activities at South Erregulla. Management believes it has encountered a possible gas-water contact in the SE-3 well. Managing Director & Chief Executive Officer, Stuart Nicholls, said: “The SE-3 flow test has not matched its petrophysical interpretation, which is disappointing. Further analysis and data collection is ongoing and Strike is reviewing the potential to return to the well.”

The post Why Breville, James Hardie, Seek, and Strike Energy shares are sinking like stones today appeared first on The Motley Fool Australia.

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More reading

• 2 ASX All Ords shares getting crushed on earnings results
• Seek share price sinks 10% as hiring slowdown hits earnings
• Guess why this ASX 200 energy stock is crashing 30% today
• Breville share price crashes 13% on guidance miss
• Here are the top 10 ASX 200 shares today

Motley Fool contributor James Mickleboro has positions in Seek. 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 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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There’s a little-known ASX mining stock that has handed investors absolutely stunning gains over the week gone by.

Last Monday, 5 February, the rare earths miner closed trading for 13 cents a share. At the time of writing, those same shares are swapping hands for 31 cents apiece, up an eye-popping 138% in a week.

Meaning, if I’d invested $5,000 in this ASX mining stock a week ago, I’d be sitting on $11,923 right now!

Any guesses?

If you said American Rare Earths Ltd (ASX: ARR), go to the head of the virtual class.

Here’s why investors have been sending this ASX mining stock rocketing.

What’s boosting the American Rare Earths share price?

A lot’s been happening with American Rare Earths over the past trading week.

This appears to have been spurred by last Wednesday’s announcement of an increase in the resource estimate at the company’s Halleck Creek project, located in the US state of Wyoming.

The ASX mining stock reported that its resource estimate had increased by 64% to 2.34 billion tonnes at 3,166 parts per million (ppm) Total Rare Earth Oxides (TREO). Shares closed up 3.9% on Wednesday and 3.7% on Thursday before really going meteoric following Friday’s investor presentation.

The ASX mining stock closed up 14% on Friday and gained another 50% on Monday. Shares are up 29% at the time of writing today.

Investor enthusiasm looks to have spiked after the company noted it has the largest ASX-listed portfolio of strategic rare earth element assets in the US. And with the upgraded resource estimated at its 100% owned flagship Halleck Creek Project, management reported the asset has the potential “to be the largest rare earths deposit in the US”.

With the Western world eager to secure rare earths elements from sources outside of China, American Rare Earths looks to be well-placed to deliver the technology crucial elements.

How has this ASX mining stock performed longer term?

Most of the recent big gains for American Rare Earths shares have come over the past week.

The ASX mining stock is up 26% since this time last year and up 1,425% over five years.

The post If I’d invested $5,000 in this ASX mining stock a week ago I’d have $11,923 today! appeared first on The Motley Fool Australia.

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More reading

• Announcing Motley Fool’s Financial Literacy Week Event
• Why Breville, James Hardie, Seek, and Strike Energy shares are sinking like stones today
• BHP share price resilient ahead of Friday’s strike action
• 2 ASX All Ords shares getting crushed on earnings results
• Seek share price sinks 10% as hiring slowdown hits earnings

Motley Fool contributor Bernd Struben 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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The BHP Group Ltd (ASX: BHP) share price is in the green today.

Shares in the S&P/ASX 200 Index (ASX: XJO) iron ore miner closed yesterday trading for $46.07. Shares are currently changing hands for $46.36 apiece, up 0.6%.

For some context, the ASX 200 is essentially flat at this same time.

A rebounding iron ore price, up 1.2% to US$128.10 per tonne, looks to be negating any headwinds the BHP share price may be getting ahead of Friday’s looming rail workers’ strike action.

Here’s what’s happening on the labour front.

Rail workers set to halt trains

Ongoing enterprise agreement negotiations between the ASX 200 mining giant and its train drivers and rail workers in Western Australia have, as yet, failed to reach a mutually acceptable conclusion.

In an escalation that doesn’t appear to be hindering the BHP share price today, this will likely see the workers in the Pilbara engage in a 24-hour stoppage on Friday, impacting the miner’s iron ore export shipments to Port Hedland.

According to the Mining and Energy Union (MEU), 97% of its members voted in favour of the industrial actions.

MEU WA secretary Greg Busson said (quoted by The Australian Financial Review), “These drivers are simply seeking guaranteed conditions in a range of areas that will make a big difference to them and their families.”

Busson added:

They’ve been very patient and given BHP every opportunity to address their concerns. Stopping the trains this Friday sends a strong message to BHP about their unity and determination.

Warren Wellbeloved, BHP general manager of rail, noted the “valued contribution” the rail workers make to BHP.

And he indicated an agreement may be within reach.

According to Wellbeloved:

We made a fair and generous offer in December 2023, but the majority of employees voted to continue bargaining. We have been listening to employee feedback on that offer and are currently reviewing a revised set of claims provided by union representatives.

BHP share price snapshot

The BHP share price is down 3% since this time last year.

Shares in the ASX 200 miner have gained 7% since the recent lows on 23 October.

The post BHP share price resilient ahead of Friday’s strike action appeared first on The Motley Fool Australia.

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More reading

• 3 things about BHP stock every smart investor knows
• 7 must-see results this ASX reporting season before buying or selling
• Which major ASX mining share will pay the biggest dividend this year?
• Are investors underestimating ASX iron ore big-wigs this earnings season?
• Why is the BHP share price starting the week with a whimper?

Motley Fool contributor Bernd Struben 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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I’m bloody lucky. I have, I’m pretty sure, the best job in the world.

I love business and investing.

I love analysis, and working out the relationship between different factors.

I love writing (and, as they say, it forces you to work out what you really think, which is a wonderful benefit).

And I love helping people get the most from their finances.

It might not surprise you that at one point I considered becoming a teacher (the kids are probably glad I didn’t!).

And why am I lucky?

Well, I have a job, and an employer, that lets me do all of that.

Sometimes, I write about investing. Sometimes about business. Sometimes about the economy. And sometimes about economic policy.

That’s a very broad remit. 

And when I do, my aim is to improve things – for our members and readers, obviously, but also for our broader society.

Why?

Well, selfishly on behalf of those people, a better society is better for all of us, including investors.

But also because I think we have a moral responsibility to do so.

Now, it’s impossible to divorce those two things, of course.

If I help people grasp the power of investing, of course some are going to join The Motley Fool.

And, I think we can help them, so I’m good with that.

But also, many won’t. Many will find other ways to use the insights I try to provide. And that’s totally fine with me.

Which is all preamble. Hopefully useful context, too.

Because I’m really pleased to let you know that The Motley Fool has decided to run a free week of live webinars, on YouTube, that we’re calling Financial Literacy Week.

Our aim?

To help people get their financial lives in order.

To give them (you?) the information and tools they need to wrest back control, and to set themselves on the right path.

Why?

I mean, it’s good for our brand. It exposes more people to our business. Those things are undoubtedly true. We might eventually get some of those people to become members of one of our services.

But if it was just about making a sale, we’d find some ‘shorter putts’. We’d throw more resources into getting current investors to use us. Or potential investors to start investing with us.

But we’re doing it, primarily, because we think we can help people who want to take control of their finances, but don’t know where to start.

And if we can, we think we should.

So we are.

Maybe you could benefit from rebooting your finances. Or maybe you know someone else who could. Or someone who needs to know what healthy financial habits look like.

That’s what we’re aiming to do.

Here’s what you need to know:

• Financial Literacy Week is free.

• It runs from February 26 to March 1.

• Each day that week, we’ll be live on YouTube.

• I’ll give you some actionable insights to help you get your financial life (back) on track.

• And we’ll answer as many of your questions as we can!

No, there are no silver bullets. And there’s no secret strategy.

You will have heard most of it before, too.

But our aim is to give it to you straight, in an easy-to-follow format.

Because, sometimes all we need is a bit of a push, and a few simple steps to follow.

That’s how you get the financial snowball rolling. And once it does, the results can be astounding.

I’m really excited we’re doing this – and proud that The Motley Fool is behind it.

I hope you’ll join us (and please let your friends and family know if you think they might benefit from it, too!)

Did I mention it’s free?

Click here to RSVP and get all of the details!

The post Announcing Motley Fool's Financial Literacy Week Event appeared first on The Motley Fool Australia.

More reading

• BHP share price resilient ahead of Friday’s strike action
• 2 ASX All Ords shares getting crushed on earnings results
• Seek share price sinks 10% as hiring slowdown hits earnings
• How high could the ResMed share price climb?
• Guess why this ASX 200 energy stock is crashing 30% today

Motley Fool contributor Scott Phillips 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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The ASX All Ords is slightly higher on Tuesday as earnings season rolls on and some stocks take a beating.

Cases in point today: Seven West Media Ltd (ASX: SWM) and James Hardie Industries plc (ASX: JHX).

The Seven West Media share price is currently down a whopping 10.91% at 24.5 cents after the group released its 1H FY24 earnings.

Building materials supplier James Hardie is also down, with the share price 5.41% lower at $55.99. The company released its 3Q FY23 update today.

Let’s find out why these ASX All Ords stocks are taking a tumble.

What’s killing this ASX All Ords media player?

Seven West Media said it was successfully executing its plan to grow audience and revenue share, however weaker advertising sales in 1H FY24 led to a 40% collapse in its earnings before interest, taxes, depreciation, and amortisation (EBITDA) to $124 million.

The ASX All Ords media company reported group revenue of $775 million, down 5% on the previous corresponding period (pcp).

Underlying net profit after tax (NPAT) (excluding significant items) came in at $63 million, down 49% pcp.

SWM CEO James Warburton said:

SWM successfully executed on our strategy during the period to deliver consistent and engaging content to drive audience growth and revenue share across the total TV market.

Despite this progress and our disciplined management of costs, our financial performance reflects the weakness in advertising markets, particularly as the second quarter progressed.

We continue to believe in the power of television and firmly believe that the total TV industry is set to regain market share. Total TV is now growing, and Seven is leading that growth.

The ASX All Ords media stock has fallen 45.6% over the past 12 months.

Investors hit the sell button on ASX All Ords building stock

ASX All Ords building materials supplier, James Hardie has also disappointed investors today.

This is despite the company reporting growth in the third quarter of FY23 on all financial metrics.

The company reported global net sales of US$978.3 million in 3Q FY24, up 14% on the pcp of 3Q FY23.

Adjusted EBITDA came in at US$280.4 million, up 34%. The adjusted EBITDA margin was 28.7%, up 4.4%.

James Hardie CEO Aaron Erter said the company had delivered four strong consecutive quarters demonstrating rising market share.

We have a superior value proposition that helps our customers grow and be successful.

Our team is focused on maintaining this momentum and consistency to deliver strong financial results again in the fourth quarter.

The ASX All Ords building materials stock has lifted 76.7% over the past 12 months.

The post 2 ASX All Ords shares getting crushed on earnings results appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Up 111%: No one thought this ASX 200 stock would double in 2023, but it did

Motley Fool contributor Bronwyn Allen has positions in James Hardie Industries Plc. 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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The Seek Ltd (ASX: SEK) share price is taking a beating on Tuesday morning as investors react to the company’s FY24 first-half results.

Shares in the online employment marketplace are down 10% to $24.25 when writing. The significant fall erases much of the ground made in the Seek share price since late October 2023. Only last month, the company’s shares breached a fresh 52-week high of $26.98.

Dent in job ads taking the Seek share price down

Here are the key takeaways from Seek’s latest half-year posting:

• Australian and New Zealand (ANZ) paid job ads down 20% (shown below)
• Revenue down 5% from the prior corresponding period to $596.8 million
• EBITDA down 11% to $252.9 million
• Adjusted net profits after tax (NPAT) from continuing operations down 24% to $107.5 million
• Interim dividend of 19 cents per share, down 21%

Shrinking from $626.7 million in revenue from continuing operations in the previous first half, Seek’s profits carried the cost as its operating expenses remained relatively flat.

The bulk of the damage was inflicted in the company’s ANZ region. Being the largest revenue source, a 10% reduction to $412 million in ANZ revenue had an outsized impact on Seek in the first half. However, the company managed to squeeze improved proceeds from the smaller base of job ads through:

• Increased variable ad pricing
• Broader use of Seek offerings
• Favourable shift in customer mix

Despite the ‘more with less’ achievement — and a 2% increase in Asia revenue ($123 million) — it was not enough to offset the weakness in job advertisement volumes.

What else happened in the half?

On 15 November 2023, Seek held its annual general meeting with shareholders. Filling investors with optimism, management highlighted ‘significant growth potential‘ within the presentation, commanding a 7% leap in the Seek share price on the day.

Moreover, full-year FY24 guidance was unveiled at the AGM. At the time, management forecasted revenue between $1.18 billion and $1.26 billion. In addition, adjusted NPAT was assigned a range of $220 million to $260 million.

Today, Seek has shared revised expectations of the following:

• Revenue between $1.15 billion to $1.21 billion, 3.3% lower at the midpoint
• Adjusted NPAT between $190 million and $220 million, 14.6% lower at the midpoint

What did Seek management say?

Undeterred by the weaker results, Seek CEO and managing director Ian Narev pitched the positive from the platform unification, stating:

The highlight of this period was the delivery, ahead of time of the unified product and technology platform that will provide the foundation of our future growth. The crucial delivery stage of the project were completed exactly as planned. We can now turn our focus from the project management to realisation of the significant benefits that the platform can deliver: faster innovation and economies of scale.

Some of these benefits, as mentioned in today’s presentation, include the ability to post ads across the entire Asia Pacific; advanced search and discovery using AI for candidates; and variable pricing in Asia.

What’s next?

Setting expectations for the next half, Seek noted ANZ job ad volume declines could persist, with mid-teen projected. However, a further 10% increase in yield is forecast to combat some of the continued softening.

Conversely, management believes costs will be lower than originally anticipated, at $670 million in FY24.

Seek share price snapshot

The Aussie benchmark, the S&P/ASX 200 Index (ASX: XJO), has returned 2.5% before dividends over the past year. Unfortunately, despite its bustling between $20 and $27, the Seek share price is producing a subpar performance, now basically flat over the same period.

The post Seek share price sinks 10% as hiring slowdown hits earnings appeared first on The Motley Fool Australia.

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• How high could the ResMed share price climb?
• Announcing Motley Fool’s Financial Literacy Week Event
• Guess why this ASX 200 energy stock is crashing 30% today
• How has the Arafura share price gained 13% today?
• Challenger share price rockets 10% on half-year earnings

Motley Fool contributor Mitchell Lawler 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 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 ResMed Inc (ASX: RMD) share price has been on form in recent months.

So much so, the sleep treatment focused medical device company’s shares have risen 28% since the end of October.

You may now be thinking that you’re too late to the party, but is that the case? Let’s find out what analysts are saying.

Can the ResMed share price keep rising?

The good news is that brokers remain very bullish on the company and continue to see material upside for investors over the next 12 months.

For example, the team at Morgans currently has an add rating and $32.82 price target on its shares. This implies potential upside of 18% for investors.

Morgans is so positive, it has the company’s shares on its best ideas list in February. It said:

While weight loss drugs have grabbed headlines and investor attention, we see these products having little impact on the large, underserved sleep disorder breathing market, and do not view them as category killers. […] the company remains well placed and uniquely positioned as it builds a patient-centric, connected-care digital platform that addresses the main pinch points across the healthcare value chain.

Over at Goldman Sachs, it put a buy rating and $33.50 price target on the ResMed share price. Though, it is worth highlighting that its analyst has since left and the broker has suspended coverage for the time being.

Finally, the team at Citi is even more bullish with its buy rating and $34.00 price target, which implies 24% upside for investors. Its analysts recently said that they “view the shares as oversold” and maintain their buy rating.

All in all, while the ResMed share price has been on a strong run recently, the broker community doesn’t appear to believe that it is too late to jump in at current prices.

The post How high could the ResMed share price climb? appeared first on The Motley Fool Australia.

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More reading

• 3 ASX shares this fund manager thinks are compelling buys right now
• Here’s how the ASX 200 market sectors stacked up this week
• Morgans says these ASX 50 shares are strong buys
• 5 ASX shares I think you can confidently invest $500 in right now
• What’s happening with the ResMed share price on Wednesday?

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in ResMed. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and ResMed. The Motley Fool Australia has positions in and has recommended ResMed. 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’m bloody lucky. I have, I’m pretty sure, the best job in the world.

I love business and investing.

I love analysis, and working out the relationship between different factors.

I love writing (and, as they say, it forces you to work out what you really think, which is a wonderful benefit).

And I love helping people get the most from their finances.

It might not surprise you that at one point I considered becoming a teacher (the kids are probably glad I didn’t!).

And why am I lucky?

Well, I have a job, and an employer, that lets me do all of that.

Sometimes, I write about investing. Sometimes about business. Sometimes about the economy. And sometimes about economic policy.

That’s a very broad remit. 

And when I do, my aim is to improve things – for our members and readers, obviously, but also for our broader society.

Why?

Well, selfishly on behalf of those people, a better society is better for all of us, including investors.

But also because I think we have a moral responsibility to do so.

Now, it’s impossible to divorce those two things, of course.

If I help people grasp the power of investing, of course some are going to join The Motley Fool.

And, I think we can help them, so I’m good with that.

But also, many won’t. Many will find other ways to use the insights I try to provide. And that’s totally fine with me.

Which is all preamble. Hopefully useful context, too.

Because I’m really pleased to let you know that The Motley Fool has decided to run a free week of live webinars, on YouTube, that we’re calling Financial Literacy Week.

Our aim?

To help people get their financial lives in order.

To give them (you?) the information and tools they need to wrest back control, and to set themselves on the right path.

Why?

I mean, it’s good for our brand. It exposes more people to our business. Those things are undoubtedly true. We might eventually get some of those people to become members of one of our services.

But if it was just about making a sale, we’d find some ‘shorter putts’. We’d throw more resources into getting current investors to use us. Or potential investors to start investing with us.

But we’re doing it, primarily, because we think we can help people who want to take control of their finances, but don’t know where to start.

And if we can, we think we should.

So we are.

Maybe you could benefit from rebooting your finances. Or maybe you know someone else who could. Or someone who needs to know what healthy financial habits look like.

That’s what we’re aiming to do.

Here’s what you need to know:

• Financial Literacy Week is free.

• It runs from February 26 to March 1.

• Each day that week, we’ll be live on YouTube.

• I’ll give you some actionable insights to help you get your financial life (back) on track.

• And we’ll answer as many of your questions as we can!

No, there are no silver bullets. And there’s no secret strategy.

You will have heard most of it before, too.

But our aim is to give it to you straight, in an easy-to-follow format.

Because, sometimes all we need is a bit of a push, and a few simple steps to follow.

That’s how you get the financial snowball rolling. And once it does, the results can be astounding.

I’m really excited we’re doing this – and proud that The Motley Fool is behind it.

I hope you’ll join us (and please let your friends and family know if you think they might benefit from it, too!)

Did I mention it’s free?

Click here to RSVP and get all of the details!

The post Announcing Motley Fool's Financial Literacy Week Event appeared first on The Motley Fool Australia.

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Motley Fool contributor Scott Phillips 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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The Strike Energy Ltd (ASX: STX) share price has returned from its trading halt and crashed deep into the red.

In early trade, the ASX 200 energy stock dropped over 30% to 29 cents.

Why is this ASX 200 energy stock crashing?

Investors have been rushing to the exits today after the company released an update on well testing activities at South Erregulla.

According to the release, South Erregulla-3 (SE-3) was completed with production tubing and the primary zones in the Kingia Sandstone were perforated on Monday 5 February 2024.

Upon opening the choke, the well failed to flow but was also observed to be substantially overbalanced.

Management advised that in response, it proceeded to plug off the zones and mobilise nitrogen to displace the well fluid and move the well into an under-balanced state.

Early in the evening of 8 February, the plug was removed with no initial flow. The release reveals that the well was then shut-in and a steady increase in tubing head pressure and associated temperature drop was subsequently observed, where bleed offs of gas were detected as hydrocarbons.

Strike advised that it then ran slickline where it observed a fluid level at ~250m from the surface, which indicates that reservoir fluid had been produced.

Unfortunately, Strike interprets this as having encountered a possible gas-water contact in the SE-3 well. Several samples of this fluid and gas have been collected for further analysis.

‘Disappointing’

The ASX 200 energy stock’s Managing Director & Chief Executive Officer, Stuart Nicholls, revealed his disappointment with the news. He said:

The SE-3 flow test has not matched its petrophysical interpretation, which is disappointing. Further analysis and data collection is ongoing and Strike is reviewing the potential to return to the well.

Though, Nicholls remains upbeat on the future, adding:

Looking forward, Strike will be drilling the Walyering-7 and Erregulla Deep-1 wells in this half, which have the potential to add material 2P developed and undeveloped volumes on success. Also, of note Strike has commenced its Ocean Hill 3D seismic acquisition which may provide the well location for the contingent appraisal well Ocean Hill-2 later in the year.

The post Guess why this ASX 200 energy stock is crashing 30% today appeared first on The Motley Fool Australia.

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• How has the Arafura share price gained 13% 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. 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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