Category: Stock Market

The Domino’s Pizza Enterprises Ltd (ASX: DMP) share price is 3% higher in morning trading today. It’s currently fetching $74.85 per share and is up 17.2% over the past month.

The increasingly global fast food business has been growing in size for many years. But the Domino’s share price has more than halved in the past year. It’s down around 55% since mid-September 2021.

One of the benefits of a lower share price is that it boosts the prospective dividend yield for new investors. Not only that, Domino’s has some grand plans for company growth, which in turn could raise profits and dividends for shareholders.

Domino’s has long been seen as an ASX growth share, but could it become an ASX dividend share, too?

A decade of growth in Domino’s dividends

Domino’s can point to a decade of growth in its dividend over the past 10 years.

Most recently, the company decided to maintain its interim dividend for FY22 at the same level as FY21. This followed a 5.3% fall in underlying net profit after tax (NPAT) to $91.3 million in the first half of FY22.

Based on the past 12 months of dividends, Domino’s has a grossed-up dividend yield of about 3% at the current share price.

If the company grows its earnings over the long term, I think the dividend can rise as well.

Looking at CMC Markets’ estimate for the Domino’s dividend in FY24, it suggests long-term growth.

CMC has projected a potential grossed-up dividend yield of 3.7% in FY24 due to higher earnings by then.

Why the earnings of Domino’s could rise

The food business is employing a few key tactics to help it grow its earnings into the future.

Growing into new international markets has been a big boost for the scale of the business over the years. Domino’s recently added its tenth market, Taiwan, which brought 156 stores to the overall network.

The company has two longer-term goals. Over the next three to five years, it wants to grow its new store openings by 9% to 12% per annum and increase same-store sales by between 3% to 6%.

To put some numbers on it, the Asia Pacific region currently has 1,959 stores. Domino’s wants to grow this to 3,600 (a collective increase for the region of 83.8%). In Europe, it has 1,368 stores and wants to grow this to 3,050 (up 123%).

Domino’s believes that the growth of digital and delivery will help the company achieve the growth it’s looking for. The company notes that delivery is the fastest growing part of the fast food market.

The company thinks that increased scale will help in a number of ways. This includes growing advertising funds and reducing the cost of delivery. It says that shorter run times mean more profitable deliveries.

It believes that a reduction of delivery costs by a third is possible in every market.

What’s happened to the Domino’s share price in 2022?

The Domino’s share price is down nearly 40% in the year to date.

A falling share price automatically lifts the dividend yield, as long as the company can maintain the same level of payments to shareholders.

Foolish takeaway

According to CMC, the Domino’s share price is valued at 27 times FY24 estimated earnings.

While not as cheap as it was in June, I think this represents an attractive entry point for long-term investors.

FY24 and beyond look like good years for dividend growth.

The post Why I think Domino’s can deliver as an ASX dividend share appeared first on The Motley Fool Australia.

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More reading

• Top brokers name 3 ASX shares to buy next week
• What I’d do with 3 ASX shares that have plunged this year: expert
• Here are the top 10 ASX shares today
• Why Costa, Domino’s, EML, and Novonix shares are dropping
• Domino’s share price drops 5% on bearish broker note

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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Dominos Pizza Enterprises 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 Telix Pharmaceuticals Ltd (ASX: TLX) share price is pushing higher in trade today.

At the time of writing, the share is trading more than 11% in the green at $6.21 apiece.

Investors are bidding up the Telix share price following the release of its quarterly cash flow statement and activities report for the quarter ended 30 June 2022.

Telix reports 10x revenue increase in Q4

• Total revenue of $22.5 million from global sales of Illuccix in its first commercial quarter, 10x increase on previous quarter
• Cash balance of $122 million
• Cash inflows of $5.4 million, up from around $2 million in the previous quarter
• $17.4 million invested in R&D, manufacturing and clinical development activities
• Telix reports it has 5.5 quarters of cash based on net cash used in operations in the June 2022 quarter

What else happened for Telix last quarter?

It was the commercial launch of Illuccix in the US. Telix distributed the product to 140 pharmacies across pharmacy networks in America.

Illuccix (aka TLX591–CDx) is Telix’s prostate imaging product. The company notes that Illuccix commercial sales revenue from the US between 14 April and 30 June 2022 was USD$13.6 million (AUD$19.3 million).

Telix also completed enrolment for its ZIRCON Phase III kidney cancer imaging trial. It now has 300 patients dosed, per the release.

It also signed an in-licence agreement with Lilly to develop the antibody Olaratumab “as a diagnostic and therapeutic radiopharmaceutical agent”.

New Group CFO, Darren Smith, was also appointed into his role, to take effect on 1 August 2022.

Management commentary

Speaking on the results, Telix Managing Director and Group CEO, Dr Christian Behrenbruch said:

The U.S. commercial launch of Illuccix is off to a strong start. This result reflects the efficacy of our differentiated business model in a large and growing market. We’ve delivered doses across the entire country, demonstrating the value of our nationwide pharmacy distribution partnerships and with industryleading on-time delivery.

We are meeting the needs of our customers and patients through reliable service delivery, flexible scheduling and wide accessibility to PSMA-PET imaging. With reimbursement effective 1 July, we expect to see Illuccix revenues grow considerably.

Telix share price snapshot

In the past 12 months, the Telix share price has clipped a 19% gain. A bulk of this was seen in the past month of trade, with shares up 50% in that time.

The post Telix share price soars 11% following ‘first commercial quarter’ appeared first on The Motley Fool Australia.

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More reading

• How did ASX biotech shares perform in FY22?
• Bell Potter names 2 of the best ASX healthcare shares to buy in FY23

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 Tesla Inc (NASDAQ: TSLA) share price is rising today on the back of the electric vehicle giant’s quarterly results.

Tesla shares are climbing 1.45% in after-hours trade on the Nasdaq Composite (NASDAQ: .IXIC) to $753.30 at the time of writing. On Wednesday in the United States, Tesla shares climbed 0.8% to $742.50.

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

Tesla reports quarterly results

Highlights of the Tesla Q2 2022 results include:

• Total revenue of $16.93 billion, up 42% year on year, down 10% on the previous quarter
• Net GAAP income of $2.26 billion, up 98% year on year, down 32% on the previous quarter
• Total gross profit of $4.2 billion, up 47% year on year but down 22% on the previous quarter
• Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $5.023 billion
• 14.6% operating margin
• Cash of $18.9 billion
• Adjusted earnings per share (EPS) of $2.27

What else did Tesla report?

Elon Musk’s Tesla produced 258,580 vehicles in quarter two, up 25% year on year but down from 15% in the previous quarter. Of these vehicles, 254,695 were delivered.

The company made “significant progress” in the second quarter. However, there were also challenges, including shutdowns, global supply chain disruptions, and labour shortages.

Shanghai was shut down for most of the quarter, limiting production. However, to end the quarter, Tesla achieved record monthly production in Shanghai.

In the US, the Fremont Factory produced record vehicle numbers in the second quarter.

New factories in Berlin-Brandenburg and Austin ramped up in the quarter. In one week, Tesla managed to produce more than 1,000 vehicles at the Berlin gigafactory.

Energy storage deployments fell 11% year on year, while solar distribution jumped 25% year on year.

Tesla converted 75% of its bitcoin purchases into fiat currency, adding $936 million to the cash balance sheet.

What’s ahead?

In what could spell good news for the Tesla share price, the company said recent upgrades in Shanghai will lift the production rate from this factory in the future.

In Europe, Tesla can see the production rate increasing through the year.

In the US, Tesla sees opportunity to boost production rates. For example, in Texas, the company can now produce vehicles with either structural batteries or legacy battery. Tesla added:

The next generation of 4680 battery cell machinery has been installed in Texas and is in the process of commissioning. Factory output in Texas continues to grow.

Overall, Tesla is planning to boost manufacturing as “quickly as possible”. The company is forecasting it can achieve a 50% increase in the average annual growth rate of vehicle deliveries.

Commenting on the overall outlook, Tesla said:

We have sufficient liquidity to fund our product roadmap, long-term capacity expansion plans and other expenses.

The pace of production ramps in Austin and Berlin-Brandenburg will be influenced by the successful introduction of many new product and manufacturing technologies in new locations and ongoing supply chain related challenges.

Tesla share price snapshot

The Tesla share price has jumped 13% in the past year, while it has fallen 38% year to date. However, in the past month, Tesla shares have climbed 4%.

For perspective, the Nasdaq Composite has lost 19% in a year and nearly 25% year to date.

The post Tesla share price powers up on 42% revenue jump appeared first on The Motley Fool Australia.

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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 positions in and has recommended Tesla. 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 Santos Ltd (ASX: STO) share price is in the red after the company released its latest quarterly earnings, detailing record first half production, revenue, and cash flow.

Shares in the ASX oil and gas share have fallen 0.24% to trade at $7.37 at the time of writing.

Santos share price dips despite record first half

Here are the key takeaways from Santos’ June quarter:

• Quarterly revenue of around US$1.88 billion – 74% higher than that of the prior comparative period
• First half revenue came to a record US$3.77 billion – 85% higher than the same period of 2021
• Produced 25.5 million barrels of oil equivalent (mmboe) in the quarter – a 2% drop on that of the March quarter
• First half free cash flow came to US$1.7 billion – a 199% increase

The company’s revenue for the June quarter was flat with the previous quarter’s as higher commodity prices offset lower sales.

Meanwhile, the company’s oil production slipped due to natural field decline at Bayu-Undan and planned maintenance outages at PNG LNG, Darwin LNG, and the Cooper Basin. Though, its production jumped 9% to 51.5 mmboe over the six months ended June.

Santos’ sales volume came to 27.5 mmboe last quarter – a 2% drop. It increased 4% over the first half, coming in at 55.7 mmboe.

Finally, Santos achieved sustaining annual merger synergies of US$95 million in the first six months of its marriage to Oil Search. It previously targeted maximum synergies of US$115 million.

What else happened in the quarter?

The Santos share price slipped 4% over the second quarter, outperforming the S&P/ASX 200 Index (ASX: XJO) by 8%.

The major news from the company in that time came in mid-April. Then, Santos announced a US$250 million on-market share buyback.

As of the end of June, US$174 million of the buyback had been completed.

Additionally, the company’s Barossa project is 40% complete, on schedule, and on budget. Meanwhile, its Pikka Phase 1 project in Alaska has advanced front end engineer design (FEED) work and is ready for a final investment decision.

Looking to the greener end of the business, Santos’ Moomba carbon capture and storage (CCS) project is 18% complete, on schedule, and on budget. Progress is also being made on the Bayu-Undan CCS project.

What did management say?

Santos managing director and CEO Kevin Gallagher commented on the news driving the company’s share price today, saying:

Santos is positioned as a leading and reliable LNG supplier into Asia and we are well placed to take advantage of growing Asian demand for LNG, which is forecast to double by 2050.

Our new capital management framework announced in April combined with strong free cash flows position us well to provide returns to shareholders at the half-year results in August.

What’s next?

The Santos share price might be being weighed down by the company’s newly updated guidance.

It now expects to produce between 102 mmboe and 107 mmboe in 2022. That’s relatively in line with its previous production guidance of between 100 mmboe and 110 mmboe.

On top of that, Santos has lowered its production cost guidance to between US$7.90 and US$8.30 per barrel.

However, the company has also dropped its sales guidance. It now expects to sell between 110 mmboe and 116 mmboe this year. Previously, its top line guidance was 120 mmboe.

Santos share price snapshot

The Santos share price has outperformed the broader market so far this year.

It has gained around 11% year to date. It’s also currently nearly 12% higher than it was at this point last year.

Meanwhile, the ASX 200 has slipped 11% year to date and 7% over the last 12 months.

The post Record-breaking: Santos share price slips despite 85% jump in half-year revenue appeared first on The Motley Fool Australia.

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More reading

• ‘Not enough’: Could Europe’s gas woes bolster ASX 200 energy shares?
• 5 things to watch on the ASX 200 on Thursday
• 5 things to watch on the ASX 200 on Wednesday
• Why is the Santos share price on such a tear today?
• Why are ASX 200 energy shares having such a stellar 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Could a class action lawsuit filed against the creators and early investors in Solana (CRYPTO: SOL) impact your ability to invest in crypto?

Some commenters worry it might. A new lawsuit circulates around the question of whether cryptocurrency is a security. 

Alleging that the defendants were involved in illegal securities trading, the suit could be a harbinger of disruptive rulings revisiting whether crypto is a security and whether non-accredited investors can participate – or it could be a nothingburger.

Although this suit uses some of Solana’s problematic features to argue it is a security, many similar lawsuits have been filed against various crypto entities and businesses using similar lines of reasoning.

The gist of the complaint: Solana is a centralized security, and its creators misled the public in order to profit 

On 1 July, a class action lawsuit was filed against Solana Labs, the Solana Foundation, Solana Labs CEO Anatoly Yakovenko, the venture capital firm Multicoin Capital, and its CEO, Kyle Samani.

Filed by lead plaintiff Mark Young “on behalf of all investors who purchased Solana tokens,” the suit alleges that Solana Labs’ negotiations prior to their initial coin offering (ICO, the crypto world’s equivalent of an IPO) constitute multiple violations of the Securities Act. 

Deploying the Howey test (a court precedent for determining whether something is an investment contract), the suit alleges that SOL is an unregistered security. The suit claims the defendants used a series of negotiations to sell lots of SOL among themselves at rock-bottom prices, and then chose to sell relatively few SOL at much higher prices during the public ICO in order to maintain control over the platform before dumping SOL on gullible investors.  

The core questions in the lawsuit relate to both the specifics of Solana and to crypto investing in general – and that is what concerns some crypto commenters.

The complaint alleges that Solana creators used a series of private deals and their ICO to deliberately centralize and consolidate control of both the tokens and the network infrastructure. Many have criticized Solana for its centralization: Its network and governance structures make it possible for some stakeholders to have more power than others.

However, the broader legal argument suggests that purchasing almost any cryptocurrency with an expectation of profit would meet the threshold of a security — and that the average retail investor lacks the knowledge and skills to make an informed investment.

The lawsuit could have major implications for retail crypto investing

Any class action lawsuit hitting the developers of one of the top 10 cryptocurrencies will turn heads. But one thing about this case that has particularly concerned commenters is that it rests on the argument that Solana is a security.

This classification is more than pedantic hair-splitting: For decades, American courts have used the Howey test to evaluate whether a transaction is a security.  

Many lawsuits have claimed that various crypto entities operate as securities. However, U.S. law generally considers crypto to be a commodity, so it falls under the purview of the Commodities Futures Exchange Commission (CFTC).

There would be many implications if this classification changes, but one of the most direct potential consequences could be restrictions in which kinds of investors can purchase crypto or participate in ICOs. 

It’s important to know that only accredited investors – wealthy individuals with a specific license and high net worth – can purchase certain types of investments. The mere idea of accredited investors is anathema to many who see crypto as a way to even the financial playing field. 

Plus, many businesses in the crypto sector, such as Coinbase (NASDAQ: COIN), use a business model that relies on retail investors to provide revenue.  

Yet many of the lawsuits claiming that crypto is a security rest on the argument that creators defrauded unsophisticated investors.  

That’s why any legal proceeding that threatens to change this status quo could have ramifications that “ripple” beyond Solana. Ripple (CRYPTO: XRP) is already embroiled in a similar lawsuit with the SEC, and legal experts involved with that case are already warning that if Ripple loses, the case could transform the crypto sector.

But then again, maybe it won’t

The Solana suit is hardly breaking new legal ground: As of May 2022, there had been at least 200 lawsuits concerning cryptocurrency, many of which alleged that crypto creators defrauded investors by illegally selling securities.  

Though the initial complaint never specifies whether the plaintiff was an accredited investor, Young purchased more than $117,000 USD of Solana in August and September last year via altcoins such as Cardano and Ethereum.  While nobody wants to watch a $117,000 investment plummet in value, it is also probably more than most retail investors are able to invest in crypto.

The complaint’s emphasis on the defendants’ use of Twitter to promote Solana also suggests that the plaintiff, or others in the class of plaintiffs, might have influenced their investment decisions. 

No matter how this lawsuit turns out, this is a great occasion to remind yourself that all investments carry risk, crypto is highly volatile, and you should only invest in proportion to your risk tolerance.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Solana Foundation slapped with class action lawsuit alleging SOL is a security appeared first on The Motley Fool Australia.

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More reading

• Shiba Inu, Dogecoin, Solana surge higher: Where are meme coins headed from here?
• Is “Solana Summer” (Finally) upon us?

Fool contributor Miranda Tedholm owns Solana. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Coinbase Global, Inc., Ethereum, Solana, and Twitter. The Motley Fool Australia owns and has recommended Solana and Ethereum. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Link Administration Holdings Ltd (ASX: LNK) share price is having a strong day on Thursday.

In morning trade, the administration services company’s shares are up 10% to $4.36.

Why is the Link share price surging higher?

Investors have been scrambling to get hold of Link shares this morning after the company provided another update on its takeover saga.

But as you might have guessed from the Link share price reaction, this update is potentially a good one for shareholders.

According to the release, Dye & Durham has revised its base scheme consideration to $4.81 per share. While this is lower than the original base scheme consideration of $5.50 per share, it is higher than its recently revised offers of $4.30 per share and $4.57 per share.

In addition, Link shareholders remain entitled to receive net consideration of up to 13 cents per share from the sale of the Banking and Credit Management (BCM) business. This is if the business is sold and proceeds are received up to 12 months after the implementation of the revised scheme.

Dye & Durham has advised that it will shortly appoint financial advisers to sell Link BCM business and will commence this process immediately following implementation of the revised scheme.

Offer recommended

The Link board is unanimously recommending that shareholders vote in favour of the revised scheme in the absence of a superior proposal and subject to the independent expert concluding that it is fair, reasonable, and in the best interests of shareholders.

Subject to the same qualifications, each Link director intends to vote in favour of the revised scheme at the forthcoming scheme meeting.

Though, the deal will still require approval from the courts, regulators, and other customary conditions.

The post Link share price jumps 10% on takeover deal appeared first on The Motley Fool Australia.

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More reading

• Link share price higher amid takeover and guidance update
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• Why Audio Pixels, Lake Resources, Link, and Magellan shares are dropping

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 positions in and has recommended Link Administration Holdings Ltd. 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 Woodside Energy Group Ltd (ASX: WDS) share price is down 2% in early trade.

Shares in the S&P/ASX 200 Index (ASX: XJO) energy giant closed yesterday at $32.57 and are currently trading for $31.92.

This comes after this morning’s release of the company’s second quarter report (Q2) for the three months ending 30 June.

Here are the highlights that have yet to boost the Woodside share price today.

What happened during the quarter?

• Woodside produced 33.8 million barrels of oil equivalent (MMboe), a 60% increase from the prior quarter and up 49% from Q2 2021
• Sales volume of 35.8 MMboe was up 51% from Q1 2022 and up 27% year-on-year
• The average realised price per barrel of oil equivalent came in at $95
• Revenue of $3.44 billion was up 44% from Q1 2022 and 159% from Q1 2021

What else impacted the Woodside share price during the quarter?

Among the biggest events over the quarter was Woodside’s merger with the petroleum business of BHP Group Ltd (ASX: BHP). That merger was officially completed on 1 June.

The merger transformed Woodside into a top 10 global independent energy producer by hydrocarbon production. And it made the company the largest energy share listed on the ASX.

The three-month period also saw Woodside rebrand itself, changing its name from Woodside Petroleum (with the ticker WPL) to Woodside Energy (with the new ticker WDS).

Topping it off the company moved to a triple listing. While maintaining its spot on the ASX 200, Woodside shares also began trading on the New York Stock Exchange (NYSE) on 2 June, then followed up with trading on the London Stock Exchange (LSE) on 6 June.

Woodside shares trade under the same ticker, WDS, on all three exchanges.

What did management say?

Commenting on the quarter gone by, Woodside CEO Meg O’Neill said:

Significant progress was made on our key projects during the quarter. All major equipment items for Scarborough have been procured and construction has begun at the Pluto Train 2 site…

Following extensive discussions with potential new partners, we have decided to discontinue the sell-down of equity in Sangomar.

In Australia, accelerated Pluto gas transported through the Pluto-Karratha Gas Plant Interconnector has resulted in additional LNG production and sales of uncontracted cargoes in a high-priced market. Lambert Deep, a component of the Greater Western Flank Phase 3 project, achieved ready for start-up in July.

Woodside’s half-year report is scheduled for release on 30 August.

Woodside share price snapshot

The Woodside share price has been a star performer in 2022, up 40%. That compares to a year-to-date loss of 11% posted by the ASX 200.

The post Woodside share price slips despite 44% revenue boost appeared first on The Motley Fool Australia.

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More reading

• ‘Not enough’: Could Europe’s gas woes bolster ASX 200 energy shares?
• 5 things to watch on the ASX 200 on Thursday
• Why this fundie believes Woodside shares are still an ‘attractive investment’
• Why JB Hi-Fi, Mesoblast, Pendal, and Woodside shares are pushing higher
• Why are ASX 200 energy shares having such a stellar Tuesday?

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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

The positive momentum in the cryptocurrency space we’ve seen to start this week is showing no signs of slowing. As sentiment related to the broader market continues to take a bullish tone, investors are seeing some impressive intraday moves in popular tokens. This is evidenced by today’s 24-hour moves in meme tokens Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB), which surged 6.6% and 5.6%, respectively, over the past 24 hours as of 12:20 p.m. ET. Cardano (CRYPTO: ADA) also saw an impressive move higher, gaining 4.4% over the same period. 

These moves appear to be driven by a changing narrative in the crypto sector. Yes, all the same headwinds continue to plague digital currencies right now. The Federal Reserve still appears to be looking to aggressively quash inflation and shrink the money supply. For investors, higher-risk assets are vulnerable to devaluation in such an environment. 

However, the recent announcement that the highly anticipated Ethereum merge has a tentative date of Sept. 19 in place has provided investors with something positive to look forward to. With that and moves by other networks such as Cardano, which is undertaking its own Vasil hard fork upgrade, optimism around key upcoming catalysts appears to be drowning out the rather loud negative catalysts that have reigned supreme this year.

So what

Aside from hard-core crypto maximalists, Dogecoin and Shiba Inu are two meme tokens that are generally viewed as too speculative to touch. However, one important feature these tokens provide is insight into the overall mentality of retail investors, as well as a gauge of investor sentiment more broadly. When speculators feel that a momentum-driven rally may have legs, tokens that are more volatile are often sought out as trades to capitalize on short-term moves.

Thus, when we see Dogecoin and Shiba Inu make multiple substantial daily moves higher (in sequential fashion), the speculative juices start to flow once again. Those betting on another bull market being just around the corner have been looking for such indicators for some time.

Indeed, the Ethereum merge has been a highly discussed event in the crypto sphere for a while. This catalyst, which has been delayed multiple times, is often viewed as what may take the future of decentralized finance, non-fungible tokens, and other crypto-related segments to the next level. As a core piece of the infrastructure supporting the overall crypto ecosystem, that’s a good thing for all tokens. 

Now what

This week’s impressive rally, as always, needs to be put in context. The overall crypto market, which is hovering around a $1 trillion valuation, is down approximately two-thirds from its peak of approximately $3 trillion late last year. Thus, while it’s great to get excited about near-term price action with some popular cryptocurrencies, much more of the same will be needed to erase the incredible losses we’ve seen this year.

Additionally, it’s unclear just how long traders and speculators will continue to bid up various cryptocurrencies before taking profits. The pump is great, but the dump is often not. And while many may stick around regardless of the volatility (those true long-term investors out there), traders and speculators will likely pull the plug at some point. 

Accordingly, true long-term investors may want to be patient with this recent rally. We’re seeing a similar theme play out in the stock market, with many calling this a bear market bounce. We’ll only find out later whether this was a sustainable rally off the bottom, or another head fake. But for now, playing it safe and incorporating appropriate risk management protocols in one’s investing strategy appears to be the best way forward. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Does this crypto rally have legs? appeared first on The Motley Fool Australia.

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More reading

• Here’s why the Bitcoin and Dogecoin prices are rocketing
• Shiba Inu, Dogecoin, Solana surge higher: Where are meme coins headed from here?
• Why Bitcoin, Ethereum, and Cardano are rocketing higher today
• What’s going on with the Dogecoin price?
• What one tech guru thinks of the current crypto market

Chris MacDonald 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 Ethereum. The Motley Fool Australia owns and has recommended Ethereum. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price has returned from its three-day trading halt.

In early trade, the banking giant’s shares are down almost 1% to $21.46.

Why is the ANZ share price falling?

The catalyst for the weakness in the ANZ share price on Thursday has been the completion of the institutional component of the banking giant’s capital raising.

According to the release, ANZ has successfully raised gross proceeds of approximately $1.7 billion, which will result in the issue of approximately 89 million new shares.

The release notes that the institutional entitlement offer was well supported by ANZ’s institutional shareholders with approximately 95% of entitlements taken up.

The remaining entitlements were quickly snapped up by other eager institutional shareholders who paid $21.65 per new share following a shortfall bookbuild process. This is $2.75 higher than the offer price of $18.90 per share.

ANZ will now push ahead with its retail entitlement offer which is aiming to raise the balance of the $3.5 billion capital raising at the same price.

Why is ANZ raising funds?

The proceeds from the capital raising will be used to fund the acquisition of the banking operations of Suncorp Group Ltd (ASX: SUN) for $4.9 billion.

ANZ’s chief executive officer, Shayne Elliott, explained the rationale of the acquisition. He said:

The acquisition of Suncorp Bank will be a cornerstone investment for ANZ and a vote of confidence in the future of Queensland. With much of the work to simplify and strengthen the bank completed, and our digital transformation well-progressed, we are now in a position to invest in and reshape our Australian business. This will result in a stronger more balanced bank for customers and shareholders.

This is a growth strategy for ANZ and we will continue to invest in Suncorp Bank and in Queensland for the benefit of all stakeholders.

The post ANZ share price edges lower after capital raising appeared first on The Motley Fool Australia.

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• 5 things to watch on the ASX 200 on Thursday
• How high will the RBA hike rates in 2022? Here’s what the ASX 200 banks are forecasting
• ANZ to buy Suncorp’s banking business, and real wages going backwards. Scott Phillips on Sky News First Edition
• Is the NAB share price in danger from a resurgent ANZ?
• Top broker gives its verdict on ANZ’s Suncorp Bank acquisition

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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It’s been a ripper month for the Imugene Limited (ASX: IMU) share price. It’s surged a whopping 76.6% over the last 30 days, lifting from just 15 cents to close yesterday’s session at 26.5 cents.

But what’s been driving the healthcare stock to outperform most of its S&P/ASX 200 Index (ASX: XJO) peers lately? Let’s take a look.

Imugene share price surges 77% in a month

The Imugene share price has outperformed the ASX 200 by around 72% over the last 30 days. Most of its strong performance stemmed from exciting news of the company’s HER-Vaxx candidate, designed to treat tumours.

The stock surged 45% in late June after the company announced a phase two trial found patients treated with HER-Vaxx had favourable survival outcomes.

Notably, treatment with HER-Vaxx and chemotherapy was found to reduce the risk of death by 41.5%. compared to chemotherapy alone.

The median overall survival for patients treated with HER-Vaxx and chemotherapy was found to be 13.9 months, compared to 8.3 months for those treated solely with chemotherapy.

In other news, the company has made two important appointments over the last month.

Dr Sharon Yavrom was appointed executive director, clinical scientist in early July. Weeks later, Mike Tonroe was appointed chief financial officer.

The Imugene share price’s strong month of trade marks an astonishing recovery. Indeed, it hasn’t yet been two months since the company’s chair and CEO wrote to reassure shareholders after the stock tumbled 67% from its November peak.

“Things have only improved from our share price peak last year,” the leaders said in May. “Imugene is as strong as it has ever been as we continue to make good progress.”

Though, the stock’s recent gains haven’t launched it back into the year-to-date green. The Imugene share price is still 38% lower than it was at the start of 2022.

The post The Imugene share price has rocketed 77% in a month. What’s going on? appeared first on The Motley Fool Australia.

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More reading

• What’s the outlook for ASX biotech shares in FY23?
• Up 33% in a week, what’s helping the Imugene share price higher?
• ASX 200 midday update: Regis Resources jump, big four banks fall ahead of RBA meeting
• Why Carsales, EOS, Imugene, and Tyro shares are sinking today
• ASX 200 midday update: Carsales sinks, Liontown jumps on Ford agreements

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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