Category: Stock Market

One top broker has tipped a bright future for the Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price.

In fact, it’s slapped the S&P/ASX 200 Index (ASX: XJO) banking giant’s stock with a price target representing a potential 22% upside.

At the time of writing, the ANZ share price is $24, 0.42% higher than its previous close.

For context, the ASX 200 is down 0.75% right now while the S&P/ASX 200 Financials Index (ASX: XFJ) has slumped 0.54%.

So, what does top broker Credit Suisse see in the ANZ share price? Let’s take a look.

Broker tips ANZ share price to take off

ANZ shares have been tipped to surge around 22% to trade at $29.25, marking a notable upside on their current price. And the broker believes rising interest rates will be the driver of such a gain.

Credit Suisse believes ANZ will be an early beneficiary of consecutive (and anticipated) interest rate hikes, my Fool college James Mickleboro reports. The broker is also said to like ANZ’s exposure to business banking.

The RBA upped interest rates for a fourth consecutive month in August, bringing the official cash rate to 1.85% in a bid to tackle inflation.

Rising rates can bring both good and bad tidings for bank stocks.

It provides institutions with the chance to up rates charged on loans, thereby increasing net interest margins (NIMs) and, thus, profits. However, it can also increase the risk of foreclosures and bad debts.

But Credit Suisse isn’t alone in expecting big things from the smallest ‘big four’ bank. Citi has slapped the ANZ share price with a target of $29, Mickleboro reported last month.

It comes after the stock plunged 21% over the first half of 2022. It’s currently trading 12.06% lower year to date.

The post Could the ANZ share price really offer more than 20% upside? appeared first on The Motley Fool Australia.

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More reading

• Why did the ANZ share price have such a stellar run today?
• Here are the top 10 ASX 200 shares today
• ‘It’s a bit unfair’: Here’s why ANZ shares are making news this week
• ANZ share price unfazed amid bank’s latest move to finance decarbonisation
• Here is the RBA interest rate outlook according to ASX 200 banks

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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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The 5E Advanced Materials Inc (ASX: 5EA) share price has exploded today on a new investment. 

The boron and lithium explorer’s shares are currently trading at $2,53, a 15% gain. However, in earlier trade, the 5E Advanced Materials share price jumped 20%. For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) is down 0.45% today.

So what did 5EA announce to the market today?

$60 million investment

5EA advised that US investor Bluescape will buy $60 million of secured convertible notes.

These notes are convertible into shares of 5EA at an initial conversion price of $17.60. The notes will mature on 15 August 2027 unless converted or rebought prior to this date.

Furthermore, 5EA advised that the construction of a small-scale boron facility (SSBF) is on schedule for completion in the final quarter of this year.

The company is also developing commercial partnerships in the lithium and boron markets. Average boric acid prices have surged by more than 50% in the first calendar quarter of 2022, compared to 2020 and 2021.

Commenting on the news, 5EA president and CEO Henri Tausch said:

We are pleased to partner with Bluescape as they are a respected U.S. institutional investor that offers value to our company far beyond that of a typical financial investment.

We also continue to see tremendous team effort as we advance construction of our Small-Scale Boron Facility towards target CQ4 2022 mechanical completion.

5EA share price snapshot

The 5EA Advanced Materials share price has lost 14% in the year to date. However, in the past month, it has rocketed nearly 26%.

In comparison, the benchmark ASX 200 materials index has lost 4% year to date and surged 8% in a month.

5EA has a market capitalisation of about $729 million based on the current share price.

The post Here’s why the 5E Advanced Materials share price just rocketed 20% appeared first on The Motley Fool Australia.

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More reading

• HiTech share price climbs 11% on record full-year results
• Novonix share price tumbles 6% on Friday. What’s going on?
• Magnis share price rockets 36% on New York lithium battery plan
• Woolworths share price slides following MyDeal ACCC nod
• ASX All Ords share Stanmore Resources lifts 10% on ‘exciting’ half year

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

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The HiTech Group Australia Limited (ASX: HIT) share price rocketed to a six-month high today after the company posted a record result for FY22.

Shares in the information and communications technology (ICT) staffing firm are up 11.51% to $2.18 in early afternoon trade.

In contrast, the All Ordinaries Index (ASX: XAO) is falling 0.61 % following a mixed lead from Wall Street overnight.

HiTech full-year results highlights

It isn’t only the increase in revenue and profit that’s getting shareholders excited. HiTech also upped its final dividend by a cent to 6 cents a share.

Management reported double-digit growth in both revenue and earnings. It claimed that this is its eighth consecutive year of double-digit revenue growth.

Below is a summary of the key figures in its FY22 results.

• Operating revenue of $63,096,126, an increase of 49.6% over the previous corresponding period (pcp) (FY21: $42,168,504).
• Gross Profit of $9,304,117, an increase of 31.8% over pcp (FY21: $7,059,491).
• Net profit after tax (NPAT) of $4,403,625, an increase of 21.1% over pcp (FY21: $3,636,602).
• Earnings before interest, taxes, depreciation and amortisation (EBITDA) of $6,757,822, an increase of 29.6% over pcp (FY21: $5,214,886)

HiTech’s shares on an earnings high

Staff shortages, particularly in the technology industry, have been a significant tailwind for the business.

HiTech’s core business is the recruitment of ICT professionals and the supply of contracting services. Its key clients are in the public and private sectors.

Further, there are several digital transformation projects in the works that are further boosting the demand for skilled IT staff.

What did management say?

Commenting on the results driving the HiTech share price today, the company said:

The record FY22 results highlight the company’s successful and continuous efforts predominantly in the government sector, to capitalise on strong demand for ICT talent and services as organisations embark on the complex task of building new digital services and integrating them with legacy national systems.

Many of the embedded ICT based projects will require additional ICT specialists to meet project timelines and additional support personnel post delivery.

Outlook for the HiTech share price

Anyone trying to hire in this environment knows how difficult it is to fill job vacancies. The country continues to suffer from the fallout of the COVID-19 pandemic that restricted travel and migration.

HiTech looks to be a beneficiary of this, and management has painted a positive picture for what lies ahead. But it didn’t quantify the upside for the current financial year.

It did say the company is well placed to capitalise on the “consistent demand” for tech professionals. It added that it is setting its sights on achieving another year of strong returns in FY23.

HiTech share price snapshot

While the HiTech share price may be outperforming today, it’s still down around 8% over the past year. However, it is up more than 11% year to date.

The All Ordinaries Index has shed around 7% over the past 12 months and is down 6% so far this year.

The post HiTech share price climbs 11% on record full-year results appeared first on The Motley Fool Australia.

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More reading

• Here’s why the 5E Advanced Materials share price just rocketed 20%
• Novonix share price tumbles 6% on Friday. What’s going on?
• Magnis share price rockets 36% on New York lithium battery plan
• Woolworths share price slides following MyDeal ACCC nod
• ASX All Ords share Stanmore Resources lifts 10% on ‘exciting’ half year

Motley Fool contributor Brendon Lau 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 Novonix Ltd (ASX: NVX) share price is tumbling lower today despite no news having been released by the battery materials and technology company.

It’s in the red alongside many of its tech and battery metals peers today after surging nearly 11% on Thursday.

The Novonix share price is currently trading at $3.09, 5.5% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) has slumped 0.5% so far today.

Let’s take a closer look at what’s going on with the ASX 200 tech stock and its peers on Friday.

What’s weighing on the Novonix share price today?

The Novonix share price is plummeting on Friday, making it the worst performer in its sector.

The S&P/ASX 200 Information Technology Index (ASX: XIJ) is currently down 1.2%.

Alongside Novonix, the sector is being weighed down by shares in Megaport Ltd (ASX: MP1), Block Inc (ASX: SQ2), and Altium Limited (ASX: ALU). They’ve fallen 4%, 4%, and 3% respectively right now.

On top of that, some ASX 200 battery materials shares are also underperforming today.

Some lithium stocks, including Lake Resources N.L. (ASX: LKE), Core Lithium Ltd (ASX: CXO) and Liontown Resources Limited (ASX: LTR), have broken a multi-session green streak to weigh on the market.

Today’s fall included, the Novonix share price is 71% lower than it was at the start of 2022 and 25% lower than it was this time last year.

Meanwhile, the ASX 200 has fallen 7% year-to-date. It is also down 7% over the last 12 months.

The post Novonix share price tumbles 6% on Friday. What’s going on? appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Why is the Novonix share price leaping 11% on Thursday?
• Why is the Novonix share price having such a lousy start to the week?
• These 3 ASX tech shares had a cracking day on the ASX today
• Here are the top 10 ASX 200 shares today

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 positions in and has recommended Altium, Block, Inc., and MEGAPORT FPO. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool Australia has recommended MEGAPORT FPO. 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 Magnis Energy Technologies Ltd (ASX: MNS) share price is soaring today on lithium battery production news.

Shares in the ASX lithium company have leapt 35.6% and are now trading at 49.5 cents. In comparison, the S&P/ASX 200 Materials (ASX: XMJ) is down 0.54% at the time of writing.

Let’s take a look at what Magnis Energy reported today.

Lithium news

Magnis announced commercial production has started at the Imperium3 New York lithium-ion battery manufacturing plant (iM3NY) in New York.

Magnis and joint venture partner Charge CCCV LLC (C4V) are the major shareholders in iM3NY, a New York-based independent lithium-ion cell manufacturer.

The plan is to produce several thousand lithium-ion cells in the next month for quality assurance. By the end of 2023, annual production levels are expected to jump to 1GWh.

This will climb to 15,000 cells per day when the plant hits a capacity of 1.8GWh.

The factory floor is about 22,000 sqm — equivalent to more than the size of three soccer fields.

Management commentary

Magnis chair Frank Poullas welcomed the news, saying:

After many years of hard work by everyone involved, today represents a momentous
occasion for Magnis, its partner C4V and the wider iM3NY team.

With previously announced binding sales agreements, I look forward to updating the market as we move towards generating revenues and increasing the capacity of the plant to meet some of the huge demand currently experienced for lithium-ion batteries especially in the United States.

iM3NY CEO Chaitanya Sharma added:

The iM3NY team has put in a huge effort to achieve this major milestone of commercial
production with iM3NY being North America’s only pure home-grown battery plant.

Magnis share price snapshot

The Magnis share price is down 14% year to date, although it has climbed 23.7% in the past 12 months.

Magnis shares have surged more than 65% in the past month.

Based on the current share price, Magnis has a market capitalisation of around $475 million.

The post Magnis share price rockets 36% on New York lithium battery plan appeared first on The Motley Fool Australia.

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More reading

• Woolworths share price slides following MyDeal ACCC nod
• ASX All Ords share Stanmore Resources lifts 10% on ‘exciting’ half year
• Guess which ASX 300 share Fortescue’s Twiggy just loaded up on
• Obscure ASX mining share surges 29% following OZ Minerals copper deal update
• Lake Resources share price finally slumps after jumping 72% this week

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

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The Woolworths Group Ltd (ASX: WOW) share price is slipping today amid an announcement that its proposed acquisition of online retailer MyDeal.Com.Au Ltd (ASX: MYD) is unopposed by Australian market regulators.

At the time of writing, Woolworths shares are swapping hands for $37.90 apiece, down 0.32% on Thursday’s closing price.

In contrast, the MyDeal share price is currently up 0.97% to $1.045.

For comparison, the S&P/ASX 200 Consumer Staples (ASX: XSJ) index is down 0.2%. The S&P/ASX 200 Index (ASX: XJO) is doing slightly worse, recording a 0.59% loss.

Let’s take a look at what the Australian Competition & Consumer Commission (ACCC) announced today.

ACCC gives green light to acquisition 

In a decision released this morning, ACCC Commissioner Lisa Carver said:

Following our review and feedback from market participants, we do not consider that Everyday Market from Woolworths is a significant competitor to MyDeal or other online marketplaces and consequently, this acquisition is unlikely to substantially lessen competition.

Furthermore, the ACCC found that it was “unlikely” that the merger between Woolworths retail and MyDeal’s online presences could lead to anti-competitive practices in the future.

“Woolworths would continue to face significant competition from online marketplace platforms available to third-party sellers,” Ms Carver added. 

My Foolish colleague Brooke Cooper reported in May that the supermarket offered to acquire MyDeal for $1.05 per share, or a 62.8% premium on the company’s closing share price.

Once the deal closes, Woolworths will own 80.2% of the online retailer, with 19.8% held personally by upper management. Woolworths CEO Sean Senvertne will hold a vast majority of this amount with a stake of 18.9%.

Woolworths confirmed the acquisition would be subject to approval from MyDeal shareholders at a scheme of arrangement meeting scheduled for 6 September and court approval.

Woolworths share price snapshot

The Woolworths share price is down 7% over the past year and 0.8% this year to date. However, it has gained 3.5% over the past month.

Woolworths has a market capitalisation of $46.15 billion. 

The post Woolworths share price slides following MyDeal ACCC nod appeared first on The Motley Fool Australia.

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More reading

• Top ASX dividend shares to buy in August 2022
• ASX 200 better buy: Wesfarmers or Woolworths?
• Guess how much Woolworths shares have paid in dividends over the last 5 years
• 3 reasons this broker says Woolworths shares are a strong buy
• The Woolworths share price leapt 5% in July, what’s in store now?

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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The Stanmore Resources Ltd (ASX: SMR) share price is in the green on Friday following the release of its half yearly results for the period ending 30 June 2022.

At the time of writing, Stanmore is trading 6% higher at $2.14 apiece, a shade from its intraday high of $2.26 per share.

Stanmore share price lifts on strong half-year

Key takeouts include:

• Fully consolidated underlying EBITDA of US$726 million
• Operating cash flow generated of US$563 million
• Acquisition of 80% interest in BHP Mitsui Coal Pty Ltd (BMC) completed on May 3 2022
• Consolidated half year Run Of Mine (ROM) production of 3.9 million tonnes (Mt) and saleable production of 2.8Mt
• Net debt of US$258 million with cash position of US$546 million at end of half year

What else happened last half for Stanmore?

The company saw benefits from the acquisition of the South Walker Creek and Poitrel mines. Sales
volumes increased by 2.09 million tonnes compared to the corresponding period.

The volume increase coincided with an increase in average realised coal sales price to US$377/tonne. As a result, it recorded an all-time high EBITDA of US$726 million.

Adverse weather events impacted operations in relation to haulage and coal mining, yet, the company still achieved its production targets.

It also drew down the full amount of its US$795 million debt facility and completed a US$506 million equity raise to acquire the assets of BHP Mitsui Coal Pty Ltd (BMC).

Management commentary

Speaking on the results, Marcelo Matos, Chief Executive Officer and Director of Stanmore said:

This has truly been an exciting period for Stanmore. We completed the acquisition of the South Walker Creek and Poitrel mines and welcomed their employees and contractors into the Stanmore family, completed the transition of the dragline to Isaac Downs which coincided with commencement of a new mining services operator and commenced operating our CHPP at Isaac Plains.

Stanmore share price snapshot

In the past 12 months, the Stanmore share price has jumped more than 211% into the green, or more than 125% this year to date.

The post ASX All Ords share Stanmore Resources lifts 10% on ‘exciting’ half year appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX shares today
• Here are the top 10 ASX shares today

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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Those looking at what “smart money” investors are buying for clues on where bargains might lie may be interested in this S&P/ASX 300 Index (ASX: XKO) share.

Andrew “Twiggy” Forrest from Fortescue Metals Group Limited (ASX: FMG) just pumped in another $13 million plus into the Austal Ltd (ASX: ASB).

He did this through his investment vehicle Tattarang Ventures, which now owns 15.4% of the shipbuilder. This is up from its previous holding of 13.8%.

The ASX 300 share that’s in the money for Twiggy

Tattarang started its latest on-market purchase on 18 June and it seems to have picked a good time to make the purchase.

The average price Twiggy paid in the latest round is circa $2.29. The Austal share price is currently trading down 0.74% at $2.68.

Meanwhile, the ASX 300 benchmark is shedding 0.57% of its value.

Timing is everything, or is it?

Perhaps Twiggy’s growing stake in the Austal share price is bolstering investor confidence during these volatile times. Austal hasn’t issued any market-sensitive news recently and Twiggy’s increased investment comes ahead of the company’s full year results.

You would think that one would wait for a company to hand in its earnings report card before committing many more millions to the investment.

But Tattarang tend to be long-term shareholders and Austal is facing several medium to longer-term tailwinds.

Rising tide lifts this ASX 300 share

Not least is the increase global defence spending due to rising geopolitical tensions in Europe and in our neck of the woods. There’s no need to mention names here.

While concerns about Austal’s sales pipeline had sunk the ASX 300 share to the depth of $1.80 on June 30 this year, management has managed to win back investors.

It announced last month that the US Navy awarded it a US$156.2 million ($225.5 million) contract to build two Navajo-class Towing, Salvage, and Rescue Ships.

Significantly, these are steel hull ships. There were concerns that Austal might miss out on more US Navy contracts if the customer looked to build more of such ships. Austal’s legacy has arguably been in the construction of lighter aluminium hulled vessels.

Further, Austal also announced in July this year that it was awarded a contract that could be worth as much as US$3.3 billion. This time, the contract is for the design and construction of up to 11 Offshore Patrol Cutters for the United States Coast Guard.

Other ASX shares that Twiggy has been buying

Maybe these developments were enough to convince Twiggy to up his investment in the ASX 300 share.

After all, Tattarang is no stranger to investing in ASX shares. It also has substantial holdings in the likes of Bega Cheese Ltd (ASX: BGA) and Swoop Holdings Ltd (ASX: SWP), among others.

The post Guess which ASX 300 share Fortescue’s Twiggy just loaded up on appeared first on The Motley Fool Australia.

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More reading

• These 3 ASX All Ordinaries shares hit new 52-week highs on Monday
• These were the best performing ASX 200 shares in July
• 2 ASX 300 shares rocking new 52-week highs on Monday

Motley Fool contributor Brendon Lau has positions in Austal Limited and Fortescue Metals Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Austal Limited. 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 Havilah Resources Ltd (ASX: HAV) share price has jumped out of the gate on Friday.

At the time of writing, the ASX mining share is trading 28.57% higher at 36 cents following a company announcement this morning.

The gains bring its total return to more than 100% over the past three months.

While the announcement itself isn’t price sensitive, its contents in some ways are, seeing as it relates to the potential disposal of a key asset.

In broad market moves, S&P/ASX 300 Metals and Mining Index (ASX: XMM) is currently down 0.25%.

What’s up with this ASX mining share?

Pending the final transaction of its deal with OZ Minerals Limited (ASX: OZL), Havilah advised today that it will hold a general meeting for shareholders on 31 August.

Recall that Havilah and OZ announced back in May the pair had signed a term sheet granting the latter an option to buy the Kalkaroo copper-gold-cobalt project.

The duo then signed definitive agreements on 26 July. However, there’s one final step left in the process and that’s to seek approval from the company’s shareholders.

Havilah’s board supports the proposed transaction as it believes the $205 million offer “produces a significantly better financial outcome and lower risk alternative” than if it were to mine the Kalkaroo deposit itself.

In today’s release, it said:

The contingent consideration, of up to $200 million, [also] provides Havilah with exposure to future Kalkaroo Project upside in the event of mineral resource upgrades and/or copper prices above US$10,000 per tonne.

The Strategic Alliance is a potential catalyst for development of a major new copper mining region in the northeast of South Australia on Havilah’s extensive tenement holdings in the Curnamona Province.

The market has certainly voted in favour of the announcement today and shares have spiked on a volume approximately seven times that of the four-week average.

In the past 12 months, the Havilah share price has gained around 69%.

The post Obscure ASX mining share surges 29% following OZ Minerals copper deal update appeared first on The Motley Fool Australia.

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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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The Lake Resources NL (ASX: LKE) share price astounded many market watchers after it rocketed 72% over the first four sessions of this week.

But the lithium stock’s green streak appears to have ended on Friday, as the company trades in the red for the first time since 3 August.

At the time of writing, the Lake Resources share price is $1.48, 7.4% lower than its previous close. However, that still sees it 60% higher than it was at the final close of last week.

In comparison, the S&P/ASX 200 Index (ASX: XJO) is also in the red today, falling 0.4% to trade 0.1% higher than it closed last week. Meanwhile, the S&P/ASX 200 Materials Index (ASX: XMJ) is down 0.04% today and has lifted 2.3% in the last five sessions.

Let’s take a closer look at what’s been going on with ASX 200 lithium share Lake Resources lately.

What was driving the Lake Resources share price this week?

This week brought a resurgence for the Lake Resources share price after a disastrous few months on the market.

The stock was caught up in June’s major lithium sell-off. It tumbled 49% that month.

Then, in July, it was hit by a short seller attack. That saw its share price fall a further 10% following a trading halt.

Following this week’s surge, the Lake Resources share price is now roughly flat with the levels it was trading at in May.

It’s also worth noting the company hasn’t been alone in the green through most of this week.

Fellow ASX 200 lithium shares Core Lithium Ltd (ASX: CXO) and Liontown Resources Limited (ASX: LTR) have both lifted around 15% since last Friday’s close.

Their gains came amid news China saw record electric vehicle (EV) sales in June – with 571,000 EVs driving away in the nation – while the United States moved to provide greater incentives for EV manufacturers.

That likely points to higher demand for EVs in the future and, as a result, higher demand (and potentially higher prices) for lithium.

Of course, signs pointing to higher lithium prices often spell good news for ASX lithium shares like Lake Resources.

The post Lake Resources share price finally slumps after jumping 72% this week appeared first on The Motley Fool Australia.

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More reading

• New records and looming deficits. Why ASX lithium stocks are in the spotlight
• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why Block, Lake, Mirvac, and QBE shares are racing higher
• Why is the Lake Resources share price up so much more than other ASX lithium shares today?

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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