Category: Stock Market

The Woodside Energy Group Ltd (ASX: WDS) share price is slightly up on Friday at $33.60, up 0.39%.

That’s a small rise into the green for the energy giant from yesterday’s close and a 48% climb this year to date. But the past week has been rough. Woodside shares are currently down 4.4%.

Meanwhile, the S&P/ASX 200 Energy Index (ASX: XEJ) is also up a little to 10,782 points, an 0.25% uptick.

What’s up with the Woodside share price?

Following the release of the energy giant’s FY22 earnings, investors have continued their support for the share.

For the 12 months to June 2022, Woodside recognised net profit after tax (NPAT) of US$1.82 billion, up 414% year on year.

Free cash flow – the lifeblood of any business – increased by nearly 670% in the same time to US$2.57 billion.

As a result, shareholders are set to enjoy a US$1.09 per share interim dividend. That’s triple the interim dividend of FY21.

Underscoring the growth last financial year was a surge in the price of energy commodities back to multi-year highs.

Brent Crude oil peaked at US$123 per barrel in March, its highest level since 2011.

Meanwhile, natural gas followed suit and thrust its way to multi-year highs as well, setting the stage for Woodside to capture this upside in both markets.

Brent Crude oil has since pulled back to range, however natural gas continues to surge back past decade-long highs, as seen on the chart below with Woodside.

As a result, traders have remained bullish on the Woodside share price.

It remains up more than 70% in the past 12 months.

The post Why is the Woodside share price sliding this week? appeared first on The Motley Fool Australia.

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More reading

• ASX 200 shares declared $42b of dividends in August. Here’s how you can get a slice
• 5 things to watch on the ASX 200 on Friday
• Blocked again: Here’s what happened to ASX 200 shares last time the Suez was cut off
• How did ASX 200 dividend shares stack up in August?
• Reason for hope as ‘worst month of the year’ starts off badly

Motley Fool contributor Zach Bristow 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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It’s been a rather sad end to the trading week for the NIB Holdings Limited (ASX: NHF) share price so far this Friday. At the time of writing, NIB shares have endured a 0.99% drop to $8 a share.

That stands in contrast to the broader S&P/ASX 200 Index (ASX: XJO). The ASX 200 has currently banked a tentative gain of 0.08% to around 6,850 points.

It’s unclear what is causing investors to have some trepidation about NIB shares as we end the trading week today. But there’s one thing we know for sure. The NIB share price is set for another tough day next Monday.

How can we know this? Well, that’s when NIB is scheduled to trade ex-dividend for its upcoming final dividend payment.

The NIB dividend is coming, but you’ll have to be quick

NIB announced its full-year earnings report for FY22 last month. At the time, the health insurance giant declared a final dividend of 11 cents per share, fully franked. This was a 21.4% decline from the final dividend of 14 cents per share that the company paid out last year for FY21.

It will take NIB’s full-year dividends for FY22 to 22 cents per share. That follows April’s interim dividend that was also worth 11 cents per share.

Again, that’s a drop from FY21’s total of 24 cents per share.

But if investors want to receive this dividend, they will have to act quickly. Monday’s ex-dividend date means that today is the last day an investor can buy NIB shares to become eligible for this upcoming dividend. From Monday, new shareholders will be cut off.

This is why we are almost certainly set to see NIB shares go backwards during Monday’s session. No new investors will be eligible for the final dividend come Monday. As such, the value of this dividend will leave the NIB share price. That’s what normally happens when an ASX share goes ex-dividend.

Investors (or those eligible, anyway) will then have to wait until 4 October to see the dividend hit their bank accounts. NIB is offering shareholders the option of participating in the company’s dividend reinvestment plan (DRP) though.

So if any investors wish to receive new NIB shares in lieu of cash, they have until 7 September to make this known to the company.

At the current NIB share price, this ASX 200 insurance share has a market capitalisation of $3.67 billion, with a dividend yield of 2.75%.

The post Keen to bag the latest NIB dividend? Time is running out appeared first on The Motley Fool Australia.

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More reading

• These ASX 200 shares are going ex-dividend on Monday
• Here are the top 10 ASX 200 shares today
• 3 ASX All Ords shares cracking new highs on Monday
• Why EML, Nearmap, NIB, and Nick Scali shares are charging higher
• NIB share price gains 6% despite net profit drop in FY22

Motley Fool contributor Sebastian Bowen 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 NIB Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Strike Energy Ltd (ASX: STX) share price has come out of a trading halt to nosedive today.

At the time of writing, the energy producer’s shares are down 10.18% to a near two-month low of 24.7 cents.

What’s driving Strike Energy shares lower?

The tanking of the Strike Energy share price follows the company’s announcement that it has successfully completed a capital raise.

Investors may be concerned about the impending share dilution, which might be causing the sell-off.

In its release, Strike Energy advised it has received binding commitments to raise $30 million from an array of investors. This includes local and international institutional, professional, and sophisticated investors.

Strike Energy will issue approximately 127.66 million new shares at a price of 23.5 cents per share. The offer represents a 14.5% discount to the last closing price of 27.5 cents per share on 31 August.

The new shares are expected to be issued on 12 September.

Proceeds of the placement will be allocated towards a number of the company’s objectives, such as:

• The Mid West Low Carbon Manufacturing Precinct freehold land ($7.7 million)
• Project Haber and South Erregulla drilling ($17 million)
• General working capital and corporate purposes.

Strike Energy managing director and CEO, Stuart Nicholls commented:

This timely capital injection allows Strike to accelerate the momentum at its transformational Project Haber fertiliser development whilst the pre-FID financing processes move towards conclusion.

The timing of this additional capital also provides resilience to the balance sheet during the construction and commissioning of the Company’s first gas field development at Walyering.

These two projects are imperatives for Strike to provide both the fastest path to free cashflow and to maximise the value of the company’s enormous natural gas endowment via the long-term value of Haber.

Strike Energy share price snapshot

Strike Energy shares are down 6% over the past 12 months.

However, year-to-date its shares are up 11%.

Strike Energy commands a market capitalisation of roughly $565.61 million, with approximately 2.06 billion shares on issue.

The post Why is the Strike Energy share price tanking 10% today? appeared first on The Motley Fool Australia.

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More reading

• Why is the Coles share price having such a lousy end to the week?
• Guess which ASX mining share just leapt 33% on a new discovery?
• Why is the Kogan share price smashing the ASX 200 on Friday?
• Why are ASX 200 mining shares getting hammered on Friday?
• Why is the Mineral Resources share price down a hole on Friday?

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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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It hasn’t been a great end to the trading week so far this Friday for the S&P/ASX 200 Index (ASX: XJO). At the time of writing, the ASX 200 is almost flat, having gained just 0.51% at around 6,850 points.

But let’s talk about the Coles Group Ltd (ASX: COL) share price.

Coles shares closed at $17.77 each yesterday. But today, the ASX 200 grocer opened at $17.58 a share. It’s now going for $17.64 at the time of writing. That’s down 0.73% from yesterday’s closing price.

So why are Coles shares underperforming the market so dramatically today?

Why is the Coles share price losing to the ASX 200 on Friday?

Well, it’s due to what is probably the best reason to have a share go down in value – Coles has just traded ex-dividend for its upcoming final dividend payment.

As we discussed yesterday, Coles declared a final dividend of 30 cents per share, fully franked, during the company’s full-year earnings report for FY22 that was released last month.

This dividend is a 17.85% rise over FY21’s final dividend of 28 cents per share. It takes the company’s full-year dividends for FY22 to 63 cents per share. That’s a rise of 3.3% over FY21’s total.

So investors are set to receive this payment later this month on 28 September. But to be eligible to receive the dividend, investors must have held Coles shares as of yesterday’s market close.

When a company trades ex-dividend, all new investors are cut off for the upcoming dividend payment. As such, we tend to see a share price fall that is more or less commensurate with the value of this dividend on the ex-dividend date.

This reflects the reality that the value of this dividend payment is now unavailable to newer investors. This makes Coles shares intrinsically less valuable.

Hence today’s share price drop.

So while ASX investors might not like Coles’ share price falls today, I’m sure they will appreciate the dividend coming their way in a few weeks. You can’t have one without the other.

At the current Coles share price, this ASX 200 blue chip share has a market capitalisation of $23.55 billion, with a dividend yield of 3.57%.

The post Why is the Coles share price having such a lousy end to the week? appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX 200 shares today
• Is the Endeavour share price a bargain after its big tumble in August?
• Why Coles, Fisher & Paykel, New Hope, and Nitro shares are rising
• 3 ASX 200 shares defying today’s sell-off to surge higher

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

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The S&P/ASX 200 Materials Index (ASX: XMJ) is down 1.87% today, but one ASX mining share is surging ahead.

The Norwest Minerals Ltd (ASX: NWM) share price is currently trading at 8 cents, a 33% gain.

Let’s take a look at what Norwest reported to the market today.

New discovery

Norwest advised it has discovered high-grade copper and gold-bearing quartz veins at the Bali Copper Project.

The company holds a 100% interest in this project, located 75 kilometres west of Paraburdoo in Western Australia.

Norwest collected 23 rock chip samples spanning 2.25 kilometres of exposed quartz veins at a location known as Deep South.

High-grade assays revealed up to 46% copper and 6.7 grams per tonne (g/t) of gold. Assay results on average showed 21% copper and 1.2 g/t of gold.

Commenting on the news, Norwest CEO Charles Schaus said:

The discovery of the new copper-gold bearing quartz veins is a very exciting outcome following Norwest’s recent commencement of work at the previously unexplored Deep South area.

More drilling is taking place at four historical copper prospects along the Bali Shear zone.

Share price snapshot

The Norwest Minerals share price has risen 14% in the past year. However, in the past month, this ASX mining share has actually doubled in value.

For perspective, the ASX 200 materials index has descended nearly 8% in the past year.

Norwest Minerals has a market capitalisation of about $14.6 million based on the current share price.

The post Guess which ASX mining share just leapt 33% on a new discovery? appeared first on The Motley Fool Australia.

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More reading

• Why is the Kogan share price smashing the ASX 200 on Friday?
• Why are ASX 200 mining shares getting hammered on Friday?
• Why is the Mineral Resources share price down a hole on Friday?
• Is the BHP share price 7% cheaper after trading ex-dividend? 
• Why did this little-known ASX lithium share rocket 18% on Friday?

Motley Fool contributor Monica O’Shea has no positions in Norwest Minerals Ltd. 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 Kogan.com Ltd (ASX: KGN) share price is outperforming the S&P/ASX 200 Index (ASX: XJO) today.

At the time of writing, Kogan shares are up 2.6% while the ASX 200 is down by 0.1%.

It’s normal for there to be volatility and declines on the ASX share market. However, it is interesting that Kogan shares are beating the index today.

What’s going on?

The company hasn’t announced any news today. However, there has been a number of interesting things announced by Kogan over the past couple of weeks.

Investors may be digesting the news that a couple of days ago, the chief financial officer, chief operating officer, and executive director David Shafer bought 150,000 shares on-market at an average price of $3.38.

It’s interesting when the leadership of a business decides to buy shares. An investment on-market could be a good indication that management believes the Kogan share price is undervalued and that the business has a compelling future, particularly at the current price.

Kogan isn’t the only e-commerce ASX share that is also up today. The Redbubble Ltd (ASX: RBL) share price is up 5.5% and the Temple & Webster Group Ltd (ASX: TPW) share price has risen by 0.4%.

Positive outlook for FY23

Investors may also be thinking about the “positive outlook” in FY23 that Kogan outlined in its FY22 result.

In FY23, Kogan is “looking forward” to the continued expansion of Kogan Marketplace, including the anticipated launch of an advertising platform, growth for Mighty Ape, and growth of Kogan First memberships as it heads to one million subscribers.

It also said that it’s looking forward to “returning to positive operating leverage”. Kogan said it returned to a profit of adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) in the fourth quarter of FY22.

July 2022 saw group adjusted EBITDA of $1.5 million and operating costs reduced by 19.3% year over year after ongoing efficiency improvements.

Kogan share price snapshot

Despite the positivity, Kogan shares are down around 17% over the past month.

The post Why is the Kogan share price smashing the ASX 200 on Friday? appeared first on The Motley Fool Australia.

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More reading

• Why Credit Corp, Endeavour, Kogan, and Service Stream shares are dropping
• Wall Street Slumps | Pilbara Minerals stunning profits | Kogan shares look cheap, Altium shares less so…
• Kogan share price tumbles 9% on first ASX loss
• Earnings preview: Here’s which ASX shares are reporting today
• Up 40% in a month, is it true ‘times are changing’ for the Kogan share price?

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Kogan.com ltd, REDBUBBLE FPO, and Temple & Webster Group Ltd. The Motley Fool Australia has positions in and has recommended Kogan.com ltd. The Motley Fool Australia has recommended Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Materials Index (ASX: XMJ) is dragging the S&P/ASX 200 Index (ASX: XJO) into the red on Friday as many of the market’s biggest mining shares struggle.

The materials sector has fallen 1.8% at the time of writing following a disastrous night for iron ore. For context, the ASX 200 is up 0.02% right now

ASX 200 mining giants BHP Group Ltd (ASX: BHP), Rio Tinto Limited (ASX: RIO), and Fortescue Metals Group Limited (ASX: FMG) are among those suffering. Their share prices are falling between 1.8% and 2.5% right now.

So, what’s weighing on the sector on Friday? Let’s take a look.

What’s going wrong for ASX 200 mining shares?

ASX 200 mining shares are sliding on Friday as a major lockdown in China weighs on sentiment for materials.

Chengdu, the capital of China’s Sichuan province, is in lockdown after 157 COVID-19 infections were detected in the city, BBC News reports. That sees around 21 million people in lockdown.

Fears the lockdown could further hamper the nation’s recovery seemingly weighed on iron ore futures overnight. It plummeted 8% to US$96.39 a tonne.

Meanwhile, base metals tumbled as much as 7.6% after Chinese factory activity was found to have fallen in August, according to CommSec.

To top it off, Macquarie has reportedly downgraded its outlook for the copper price and slashed earnings forecasts for copper miners as a result, The Australian reports.

The broker is also said to have dropped its price targets for Sandfire Resources Ltd (ASX: SFR), 29Metals Ltd (ASX: 29M), BHP, and Rio Tinto by between 17% and 3%.

Today’s tumble comes after the ASX 200 sector housing the market’s mining shares posted a whopping 4.9% loss on Thursday. It’s currently 10.2% lower than its August peak.

Lithium shares are among today’s worst performers. Shares in Mineral Resources Limited (ASX: MIN), Lake Resources NL (ASX: LKE), and Core Lithium Ltd (ASX: CXO) are currently the ASX 200 materials index’s biggest weights, falling 5.7%, 5.3%, and 5.4% respectively.

The post Why are ASX 200 mining shares getting hammered on Friday? appeared first on The Motley Fool Australia.

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More reading

• Why is the Mineral Resources share price down a hole on Friday?
• Is the BHP share price 7% cheaper after trading ex-dividend? 
• What’s the outlook for ASX 200 copper shares in September?
• Why is the BHP share price tumbling again on Friday?
• These ASX 200 shares are going ex-dividend on Monday

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 recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Mineral Resources Ltd (ASX: MIN) share price is losing ground on Friday despite no announcements from the company.

At the time of writing, the mining services company’s shares are trading at $59.03, down 4.47%.

For context, the S&P/ASX 200 Index (ASX: XJO) is down 0.2% during early afternoon trade.

What’s going down today?

As the broader market struggles to stay afloat, it’s the Mineral Resources share price that’s tanking heavily. This is likely because its shares are trading ex-dividend today.

This means if you purchased Mineral Resources’ shares yesterday or before and owned them at market open today, you’ll be eligible for the latest dividend. If you buy shares in the company today, you’ll miss out on the dividend payout.

Eligible shareholders will receive a fully franked dividend payment of $1 per share on 23 September.

Despite the success achieved, Mineral Resources did not declare an interim dividend in FY 2022. This was due to market uncertainty and a substantial reduction in iron ore prices over the first half of the year.

In FY 2021, the board paid out $2.75 in dividends to shareholders.

Are Mineral Resources shares a buy?

Following the company’s 2022 financial scorecard, a number of brokers updated their ratings on Mineral Resources shares.

As reported by ANZ Share Investing, broker Jefferies raised its price target by 21% to $75 per share. Based on the current price, this implies an upside of 26%.

In addition, Goldman Sachs and Bell Potter increased their price targets by 9% to $69.50, and 5.6% to $80, respectively.

However, the most bullish note came from Macquarie which lifted its outlook by 9.9% to the psychologically significant $100 mark.

The strong price target implies an upside of more than 30% from where Mineral Resources trades today.

Mineral Resources share price snapshot

Throughout the year, the Mineral Resources share price has travelled in circles as lithium prices surged, but iron ore tanked.

Shares in the company are up 10.7% over the past 12 months.

In comparison, the S&P/ASX 200 Resources Index (ASX: XJR) is up just 0.8% over the same period.

Mineral Resources has a price-to-earnings (P/E) ratio of 31.90 and commands a market capitalisation of approximately $11.17 billion.

The post Why is the Mineral Resources share price down a hole on Friday? appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Friday
• How do IGO shares compare to Mineral Resources following earnings season?
• The Pilbara Minerals share price surged 30% in August. What now?
• Here are the top 10 ASX 200 shares today
• Mineral Resources share price slides as dividend drops 43%

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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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It’s not often that one ASX share on the S&P/ASX 200 Index (ASX: XJO) can drag the whole market down. But that is arguably what happened to the ASX 200 yesterday. But was it really all thanks to the BHP Group Ltd (ASX: BHP) share price?

Yesterday saw the ASX 200 lose a nasty 2% of its value. But the BHP share price shed a seemingly nastier 7.61%, falling from $40.60 at Wednesday’s close to $37.51 a share by the end of yesterday’s session.

As such, it’s very possible that BHP was almost solely responsible for the woes that the market saw yesterday, thanks to the fact that BHP is by far the largest ASX 200 share on the ASX 200. That gives it the most weighting in the index by market capitalisation.

But investors probably weren’t too worried about yesterday’s falls. That’s because it was largely a result of BHP trading ex-dividend for its upcoming dividend payment.

BHP shares are set to pay out the company’s final dividend of US$1.75 per share on 22 September later this month. We don’t yet know the exact amount in Australian dollar terms, but at today’s exchange rates it would be roughly worth $2.58 per share.  

That would be worth a yield of approximately 6.35% on Wednesday’s closing share price, which accounts for the lion’s share of the losses we saw the subsequent day.

Are BHP shares cheaper today than before the ex-dividend date?

So does this mean investors should have waited until yesterday to buy BHP shares, given they were trading more than a 7% discount to where they were on Wednesday?

Well, not really. See, when an ASX share trades ex-dividend, its share price usually falls by a similar amount to what that dividend was worth. But this sadly doesn’t really give investors a bargain buy.

Investors who bought BHP shares on Wednesday would be roughly no better or worse off than those who bought yesterday, despite the 7% share price gap. That is because an ex-dividend date represents the cutoff for new investors to receive the dividend.

Those investors who bought on Wednesday are eligible to receive the US$1.75 per share dividend. Those who bought yesterday or since are not.

Thus, even though they got to buy BHP shares at a cheaper share price yesterday than that of Wednesday, the dividend that the Wednesday buyers will receive almost makes up for that share price loss. The rest of the loss is what would have happened to BHP shares anyway.

The market knows when a share will trade ex-dividend, so it tends to automatically adjust its bidding and asking prices, moving the company’s share price accordingly. There’s no free lunch here.

So BHP shares were cheaper yesterday because of its ex-dividend date, not despite it.

But today’s loss of 2% or so? I’m afraid that’s just a normal share price fall.

At the current BHP share price, this ASX 200 mining giant has a market capitalisation of $186.17 billion, with a dividend yield of 12.55%.   

The post Is the BHP share price 7% cheaper after trading ex-dividend?  appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen 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 Infinity Lithium Corporation Ltd (ASX: INF) share price is in the green today.

Shares in the ASX lithium explorer are currently up 9%, trading at 18 cents apiece after earlier spiking 18% higher to an intraday high of 20 cents.

Meanwhile, S&P/ASX 200 Materials Index (ASX: XMJ) is down on Friday, recording a 1.83% loss at the time of writing.

So Infinity Lithium Corp shares are flying high above its peers’ aggregate share price performance in the basic materials sector — but how come?

The short of it is that the company made a significant announcement this morning. Let’s take a look.

What’s going on with the ASX lithium share?

The company advised that Extremadura, an autonomous community in Spain, has declared that lithium extraction and processing are of “regional and general interest”. Consequently, the community’s regional government has passed a new decree-law for lithium projects to incorporate lithium processing in their operations.

This is bullish news for Infinity Lithium, as its San José lithium extraction and processing plant is already well-established in Extremadura’s province of Caceres.

Extremadura New Energies CEO Ramón Jiménez was quoted in the company release today as saying:

San José is a world-class and large-scale integrated lithium project built on the foundations of a very significant hard rock lithium resource.

The progressive vision of the government ensures the feedstock at San José is aligned to the strategic interests of the region through an integrated facility that has become the blueprint for all lithium projects in Extremadura.

The company welcomed the stance, saying:

The decree has reinforced lithium as a product of regional interest and integrated lithium operations as regional interest business projects (‘PREMIA’), in effect prioritising permitting, recognition as public utility projects, and access to employment grants.

Infinity Lithium share price snapshot

Despite today’s gains, the Infinity Lithium share price is down 5.26% year to date. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) has dropped 9.91% lower over the same period.

The company’s market capitalisation is around $72 million at the time of writing.

The post Why did this little-known ASX lithium share rocket 18% on Friday? appeared first on The Motley Fool Australia.

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Motley Fool contributor Matthew Farley 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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