Category: Stock Market

The collapse of century-old builder Clough has hit headlines this week, and the news appears to be weighing on the Beach Energy Ltd (ASX: BPT) share price.

The oil and gas stock plummeted 4% yesterday and it’s down another 7.28% today, trading at $1.68 at the time of writing.

For comparison, the S&P/ASX 200 Index (ASX: XJO) slumped 0.5% yesterday and is down 0.77% right now.

But why is the Beach Energy share price among the dominos hit by the Perth-based builder’s collapse? Let’s take a look.

Clough’s collapse dints Beach Energy share price

It’s been a rough few years for the Aussie building industry. Much of it was shut down during the worst of the pandemic, only to be hit with supply chain issues and supply shortages on a return to ‘normal’.

Clough was just the latest building company to announce it’s entering voluntary administration on Monday. Its collapse came amid the termination of Webuild’s agreement to acquire the embattled company.

It has appointed Deloitte as administrator, responsible for its planned restructure and recapitalisation.

But where does the tumbling Beach Energy share price come into play? Well, Clough was contracted for engineering and construction work at the ASX 200 energy company’s Waitsia Stage 2 project.

Commenting on Clough’s voluntary administration yesterday, Beach Energy said:

Beach and [Mitsui], its joint venture partner and Waitsia operator, will work closely with the administrator, contractors, and stakeholders to ensure continued progress of the … Waitsia Stage 2 gas plant.

The remit of the project is to further develop the Waitsia gas field in the Perth Basin. It will create more wells and a new production facility capable of producing 250 terajoules each day.

Mitsui said it’s still too early to determine the impact the company’s collapse could have on the project, Reuters reports.

Such uncertainty has likely been weighing on the Beach Energy share price this week.

The stock might also be feeling the impact of earlier news from takeover target Warrego Energy Ltd (ASX: WGO). Warrego found a competing offer from Gina Rinehart’s Hancock Energy superior on Monday.

Beach Energy has five business days to put forward a higher bid. If it doesn’t, Warrego’s board will likely recommend Hancock’s offer to shareholders.

The post Why is Clough’s collapse wreaking havoc on the Beach Energy share price? appeared first on The Motley Fool Australia.

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More reading

• Strike Energy share price soars following Warrego buy up
• 5 things to watch on the ASX 200 on Wednesday
• Here’s why the Beach Energy share price is diving 6% on Tuesday
• Why Beach, Block, Magellan, and St Barbara shares are dropping
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Investors love to see directors, chairs, and even CEOs of ASX companies picking up shares of the business they are running. It’s not hard to see why.

Management buying shares of their own companies gives investors confidence that the highly-paid people running the show see value in shareholders’ futures.

It also helps incentivise management, ensuring that their financial fortunes are more closely tied to those of their shareholders.

So that might be why the Kogan.com Ltd (ASX: KGN) share price is holding up better than the broader market today. At the time of writing, Kogan shares are up by 0.31% to $3.28 each.

That looks pretty good against the All Ordinaries Index (ASX: XAO). It is currently down by a nasty 0.81%.

Director triples down on Kogan shares

Yes, this week we got the news that Kogan director Janine Allis has not doubled, but tripled her holdings in Kogan. An ASX filing shows that Allis boosted her holdings by 10,000 shares on 5 December.

She paid an average of $3.33 per share. That would equate to an investment of $33,300.

Allis previously owned 4,761 shares of Kogan, so this new tranche of 10,000 shares more than triples her stake in the ASX retail share.

Janine Allis has been an independent, non-executive director at Kogan since April 2021. Previously, she founded the popular juice chain Boost Juice.

So no doubt Kogan investors will be buoyed upon hearing about this large purchase of shares. It’s likely to be a much-needed confidence boost, given the company’s share price has lost a painful 62.5% of its value over 2022 alone.

At the current Kogan share price, the company has a market capitalisation of $351 million.

The post This Kogan director (and Boost founder) just tripled her holding of Kogan shares appeared first on The Motley Fool Australia.

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More reading

• 5 of the craziest things making news on the ASX this week
• Why Kogan, Nick Scali, PointsBet, and Sayona Mining shares are pushing higher
• Kogan share price jumps 13% as boss touts ‘return to historic growth trajectory’
• These 10 predictions could help you profit from the stock market regardless of inflation, interest rates or even another bear market

Motley Fool contributor Sebastian Bowen has positions in Kogan.com. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Kogan.com. The Motley Fool Australia has positions in and has recommended Kogan.com. 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 Woodside Energy Group Ltd (ASX: WDS) share price is in the red today.

After marching higher on Monday and Tuesday the S&P/ASX 200 Index (ASX: XJO) energy share is down 1.85% at the time of writing.

This comes amid a big fall in oil prices and despite Woodside announcing a gas sales agreement with Qenos Pty Ltd.

Woodside share price slides as oil hits 2022 lows

The Woodside share price is facing headwinds today as crude oil prices dropped to their lowest levels in 2022.

Brent crude oil prices fell 4% overnight to US$79.35 per barrel. It was only back in mid-June that Brent crude was selling for north of US$122 per barrel. Though it’s worth noting the Woodside share price is up some 10% since mid-June despite the big retrace in oil prices.

Crude prices fell as there looks to be plenty of near-term crude supply as we head into 2023. Investors have also been spooked by the outlook of slowing global economic growth alongside the US$60 per barrel price cap G7 nations have slapped onto Russian oil exports.

Commenting on the falling oil prices, Ed Morse, global head of commodity research at Citigroup Inc called the recent price actions “absurd”.

Morse told Bloomberg TV that traders are “fleeing the market” because, “We are getting toward the end of the year, and those who made money this year did not want to lose any.”

Gas sales agreement

In other developments that should offer some support to the Woodside share price, the company announced it’s entered into a gas sales agreement with Qenos.

The agreement will see Woodside supply natural gas from its equity position in Bass Strait, located in Victoria. It covers the supply of 4.5 petajoules of gas in 2023 for use at Qenos’ polyethylene manufacturing facilities in Victoria and New South Wales.

Commenting on the gas agreement, Woodside executive vice president of marketing & trading Mark Abbotsford said:

This agreement ensures affordable gas supply to an important large-scale industrial consumer at a time of increased volatility and uncertainty in east coast energy markets.

Woodside is a non-operating joint venture participant in the Bass Strait Project.

Woodside share price snapshot

Despite today’s dip, the Woodside share price remains up an impressive 64% over the past 12 months. That compares quite favourably to the 1% full-year loss posted by the ASX 200.

The post Woodside share price slides as oil sinks to 2022 low appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Wednesday
• If I bought $10,000 Woodside shares at the start of the year, how much would they be worth now?
• 5 popular ASX 200 stocks I’m avoiding, plus one that still looks dirt cheap
• Leading brokers name 3 ASX shares to buy today
• Is the Woodside share price cheap following its recent dip?

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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S&P/ASX 200 Index (ASX: XJO) tech shares are having a tough time of it today.

While the benchmark index itself is down 0.84%, the S&P/ASX All Technology Index (ASX: XTX) – which contains some smaller tech stocks outside of the ASX 200 – is down a painful 2.84% at this same time.

Here’s how some of the top ASX 200 tech shares are faring in early afternoon trade:

• Buy now, pay later (BNPL) stock Block Inc (ASX: SQ2) shares are down 2.9%
• WiseTech Global Ltd (ASX: WTC), a provider of cloud-based software solutions for the logistics sector, is down 4.33%
• Administration services company Link Administration Holdings Ltd (ASX: LNK) shares are down 2.3%
• Accounting software provider Xero Ltd (ASX: XRO) shares are down 2.16%

So, what’s going on?

Why are ASX 200 tech shares feeling the heat today?

ASX 200 tech shares look to be under pressure following a big sell-off in technology stocks in US markets overnight. That saw the Nasdaq Composite Index close down 2%.

Block, which acquired Afterpay in January, is dual listed on the ASX and NYSE, and its US shares closed down 2.9% overnight.

Investors appear to be locking in some of the gains posted by the tech sector in October and November, which saw the ASX All Tech Index charge 12% higher over the two months.

There are also likely some jitters about the prospects of further interest rate rises ahead from the US Federal Reserve when its members meet again next week.

And then there’s yesterday’s 0.25% interest rate increase from the Reserve Bank of Australia. While the move wasn’t entirely unexpected, some analysts had forecast the central bank might pause its tightening path to assess the impacts of the past seven months of rate rises.

ASX 200 tech shares broadly sold off in the minutes after the RBA announcement.

Below you can see how the big tech stocks — Block, Xero, WiseTech, and Link — have been tracking longer term.

The post ASX 200 tech shares deep in the red today. Here’s why appeared first on The Motley Fool Australia.

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More reading

• 10 ASX shares to buy in 2023
• Why Beach, Block, Magellan, and St Barbara shares are dropping
• Why is the Xero share price being trashed on Tuesday?
• Buy Xero and this ASX growth share for 2023: analysts
• Here are the 10 most shorted ASX shares

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 positions in and has recommended Block, Link Administration, WiseTech Global, and Xero. The Motley Fool Australia has positions in and has recommended Block, 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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Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

Three ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:

GUD Holdings Limited (ASX: GUD)

According to a note out of Citi, its analysts have upgraded this diversified products company’s shares to a buy rating with an improved price target of $10.00. The broker believes that GUD is well-placed to benefit from a recovery in new car sales. It expects this to boost its auto parts segment. In addition, the broker highlights the low multiples (11x FY23 estimated earnings) that its shares trade on. The GUD share price is trading at $8.23 this afternoon.

Premier Investments Limited (ASX: PMV)

A note out of Macquarie reveals that its analysts have retained their outperform rating and $29.00 price target on this retail conglomerate’s shares. Macquarie was impressed with Premier Investments’ strong start to the year and notes that its sales growth is tracking ahead of its expectations. This has led to the broker upgrading its earnings estimates for the year. The Premier Investments share price is fetching $24.98 on Wednesday.

REA Group Limited (ASX: REA)

Analysts at Goldman Sachs have retained their conviction buy rating and $159.00 price target on this real estate listings company’s shares. Goldman remains positive on REA’s yield outlook, noting that the company has good visibility on its >10% growth target over its three-year planning cycle. Overall, the broker is expecting this to underpin modest EBITDA growth in FY 2023 and then a 19% jump in FY 2024. The latter is 4% ahead of consensus estimates. The REA share price is trading at $120.63 today.

The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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More reading

• ASX 200 correction: A once-in-a-lifetime chance for supercharged passive income!
• 3 ASX 200 tech shares to buy now before the market wakes up: expert
• 5 things to watch on the ASX 200 on Friday
• Experts say these ASX 200 blue chip shares are buys
• Here are the top 10 ASX 200 shares today

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 recommended Premier Investments and REA Group. 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 Australian share market has just welcomed its latest lithium share, with the Patriot Battery Metals Inc (ASX: PMT) share price hitting the ASX boards at noon.

This follows an initial public offering (IPO) which raised a modest $4.2 million at 60 cents per new CDI, giving it an indicative market capitalisation of $553 million.

A big first day for the Patriot Battery Metals share price

Anyone lucky enough to have been able to grab hold of shares in this IPO is likely to be celebrating now!

At the time of writing, the Patriot Battery Metals share price is trading at $1.19. That is almost double the IPO listing price.

But that gain may not come as a surprise to investors. That’s because Patriot Battery Metals has been trading on the Canadian share market for several months and the ASX-listed CDIs are equally to 10 of these shares.

The Patriot Battery Metals share price in Canada closed yesterday’s session at C$8.54. At current exchange rates, this equates to $9.35, which would value each CDI at approximately 93.5 cents.

Though, judging by its performance on the ASX today, it appears that local investors believe the company’s Canadian shares are undervalued.

What is Patriot Battery Metals?

The Australian share market’s latest lithium share is based in North America and owns several promising battery material projects.

The company’s flagship asset is the 100% owned Corvette Property, located near the Trans-Taiga Road and powerline infrastructural corridor in the James Bay Region of Québec.

Management notes that the land package hosts significant lithium potential highlighted by the 2.2 km long CV5 spodumene pegmatite with notable drill. Additionally, the property has also previously found significant gold samples.

Aiming to take Patriot Battery Metals from explorer to producer is an experienced management team. This includes former Pilbara Minerals Ltd (ASX: CEO), Ken Brinsden, as its non-executive chairman.

‘A major milestone’

Patriot Battery Metals’ CEO, Blair Way, was pleased that the company was now listed on the ASX. He commented:

It is great to be trading on the ASX. With the ASX listing blackout behind us I look forward to getting back to our normal news flow providing progress updates and assay results. Commencing trading on the ASX is a major milestone for the company and I appreciate the significant efforts of our team to make this happen.

The post Patriot Battery Metals share price rockets after IPO appeared first on The Motley Fool Australia.

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More reading

• Why is the Renascor Resources share price on ice today?
• Why did this ASX tech share just explode 30%?
• Strike Energy share price soars following Warrego buy up
• Fortescue share price jumps amid Twiggy’s $4b renewables takeover
• ASX 200 correction: A once-in-a-lifetime chance for supercharged passive income!

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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The Renascor Resources Ltd (ASX: RNU) share price isn’t going anywhere on Wednesday.

That’s because this morning, the battery materials explorer requested a trading halt.

Why is the Renascor share price paused?

The Renascor share price was halted this morning so the company could undertake a fully underwritten institutional placement.

According to the release, the placement aims to raise approximately $70 million from institutional investors at 27.5 cents per share.

While this represents a 14% discount to its last close price, it is significantly higher than where the Renascor share price was trading 12 months ago, as you can see below.

Why is it raising funds?

Renascor advised that the proceeds will be used to fund the development of the Siviour Battery Anode Material (BAM) Project in South Australia.

This follows the recent approval from the South Australian Department of Energy and Mining of the Program for Environment Protection and Rehabilitation (PEPR) for its proposed Siviour Mine and Concentrator in South Australia.

Management believes the placement is another successful step toward Renascor’s goal of powering Australia’s clean energy transition through the development of its vertically integrated manufacturing operation to produce sustainable and ethically-sourced battery anode material for the lithium-ion battery market.

Renascor’s managing director, David Christensen, commented:

Renascor’s ambition is to become a reliable supplier of 100% Australian-made purified spherical graphite for lithium-ion battery anode makers worldwide. The funds raised via this Placement, together with the recently received PEPR approval, bring us significantly closer to realising this objective, as we look to accelerate our development timeline by bringing forward the commencement of construction of the Siviour mine and concentrator.

We now look forward to completing our Optimised BAM Study and ultimately reaching a Final Investment Decision next year. On behalf of Renascor board and management, I wish a warm welcome to our new shareholders and thank all our existing institutional and retail shareholders for their ongoing support.

The post Why is the Renascor Resources share price on ice today? appeared first on The Motley Fool Australia.

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More reading

• These were the 3 best-performing ASX All Ords shares in November
• Top ASX shares to buy in December 2022
• Why is the Renascor Resources share price rocketing 46% this month?

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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The 4DS Memory Limited (ASX: 4DS) share price streaked 32% higher shortly after the market open today.

The ASX tech share shot up following an announcement by the semiconductor memory storage company this morning before settling again in late morning trade.

The ASX tech share is currently trading at 5.1 cents, up 2%. It reached an intraday high of 6.6 cents shortly after the open.

The company went into a trading halt yesterday and also received a price query from the ASX.

What’s the news that launched this ASX tech share skywards?

4DS has updated shareholders on its 2023 collaboration with imec this morning.

The company said it has finalised arrangements to extend the collaboration project into mid-2023. The cost will be 903,000 euros.

4DS said manufacturing of the Fourth Platform Lot will commence in Q1 2023. The company expects delivery at the end of Q2 2023.

4DS Memory is a semiconductor development company of non-volatile memory technology.

imec is a world-leading research and innovation hub in nanoelectronics and digital technologies.

What did management say?

4DS Memory executive chair Dr Wilbert van den Hoek said:

We are extremely pleased to have reached agreement with imec for an extension of our collaboration into 2023.

We will continue to undertake internal activities, the results of which will be inputs to the collaboration during 2023. Furthermore, we are continually improving our testing capability to ensure that we are best placed for a potentially successful outcome.

What has 2022 been like for this ASX tech share?

The 4DS Memory share price is down 42% in 2022.

This performance is on par with the information technology index, which is down 34% year to date.

The post Why did this ASX tech share just explode 30%? appeared first on The Motley Fool Australia.

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More reading

• Strike Energy share price soars following Warrego buy up
• Fortescue share price jumps amid Twiggy’s $4b renewables takeover
• ASX 200 correction: A once-in-a-lifetime chance for supercharged passive income!
• Why is the CSL share price in the spotlight on Wednesday?
• With $5,000 to invest, I’d aim to make a 1,000% return from ASX shares

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 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 is soaring on Wednesday, up 5%.

Strike Energy shares closed at 34 cents yesterday and are currently trading for 36 cents apiece.

Investors are bidding up the ASX energy share following an update on its increased ownership of Warrego Energy Ltd (ASX: WGO) and the West Erregulla gas field, located in Western Australia.

Here’s what the company reported.

What’s happening with Warrego Energy?

The Strike Energy share price is soaring, and the Warrego Energy share price is up 3.2% after Strike said it is increasing its shareholding in Warrego to approximately 19.9%.

This was accomplished via share purchase agreements with a number of Warrego stockholders via the swap of Strike shares for Warrego shares at a 1:1 share exchange ratio.

Once the share swaps are settled, Strike will be the largest shareholder in Warrego, with around 19.9% voting rights.

The Strike share price could also be getting some tailwinds as this will see the company increase its ownership of the West Erregulla gas field to some 60%.

Warrego has been the subject of an ongoing takeover battle that’s helped drive the Warrego share price up 103% over the past month.

Atop Strike Energy, two other powerhouses – Beach Energy Ltd (ASX: BPT) and Gina Rinehart’s Hancock Energy – have been seeking to gain controlling ownership of Warrego’s gas assets.

Perhaps with this in mind, Strike’s board stressed it had not yet “formed any intention with regards to any future transaction that may involve Warrego”. The company said it is considering all available strategic options.

Commenting on the Warrego buy up driving the Strike Energy share price higher today, CEO Stuart Nicholls said:

Strike has a strong track record of identifying and securing valuable and strategic energy assets at various stages of maturity. The expansion of our ownership of Warrego shares and the resulting look through to an increased economic interest in the West Erregulla gas field is a further demonstration of this.

Strike Energy share price snapshot

The Strike Energy share price is up an impressive 122% over the past 12 months, with Warrego shares having leapt 171% higher. For some context, the All Ordinaries Index (ASX: XAO) is down 2% over that same period.

The post Strike Energy share price soars following Warrego buy up appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Wednesday
• Here’s why the Beach Energy share price is diving 6% on Tuesday
• Why Beach, Block, Magellan, and St Barbara shares are dropping
• 5 things to watch on the ASX 200 on Tuesday
• Here are the top 10 ASX 200 shares today

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 Fortescue Metals Group Limited (ASX: FMG) share price is higher this morning. Meanwhile, the company’s boss is hitting headlines following a major renewable energy acquisition.

Squadron Energy, owned by the iron ore giant’s founder and chair Andrew ‘Twiggy’ Forrest’s investment vehicle Tattarang, has snapped up CWP Renewables for a widely reported sum of $4 billion.

Squadron Energy is entirely separate to Fortescue. Still, the news might have turned the market’s attention to the S&P/ASX 200 Index (ASX: XJO) giant.

Right now, the Fortescue share price is $20.96, 1.26% higher than its previous close.

For comparison, the ASX 200 has fallen 0.71% at the time of writing. Simultaneously, the S&P/ASX 200 Materials Index (ASX: XMJ) has lifted 0.36% – making it today’s best-performing sector so far.

Let’s take a closer look at the announcement putting Forrest in the spotlight on Wednesday.

Twiggy snaps up renewable energy giant in $4b takeover

The Fortescue share price is outperforming amid news a massive acquisition has seen Squadron dubbed Australia’s largest renewable energy investor, operator, and developer.

Forrest’s privately-owned company officially bought CWP Renewables today, bringing its renewable energy operating portfolio to 2.4 gigawatts. It also now boasts an Aussie development pipeline of 20 gigawatts.

Once fully operational, Squadron’s portfolio will be capable of powering 8.5 million homes.

Forrest commented on the takeover, saying:

Australian industries’ ability to consign fossil fuel to history, is robustly demonstrated by the strong track record and commitment of Fortescue Metals, Fortescue Future Industries, and other world-leading companies committed to decarbonising.

We share a vision of Australia and the world, looking back on the dark era of fossil fuel as an aberration in humanity’s history. One that could have ended with that fuel, but is now powered by cheap, pollution-free, democratic, inexhaustible energy.

CWP provides renewable energy to ASX 200 giants Woolworths Group Ltd (ASX: WOW), Transurban Group (ASX: TCL), and Commonwealth Bank of Australia (ASX: CBA).

Squadron beat out AGL Energy Ltd (ASX: AGL)’s Tilt Renewables for the acquisition, The Australian reports. Tilt was taken over by AGL’s part-owned platform PowAR – since renamed Tilt – last year.  

Fortescue share price snapshot

The Fortescue share price has outperformed over the course of 2022.

The stock is currently 6% higher than it was at the start of this year. It has also gained 20.5% since this time last year.

For comparison, the ASX 200 has slumped 5% year to date and 1% over the last 12 months.

The post Fortescue share price jumps amid Twiggy’s $4b renewables takeover appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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