Category: Stock Market

It’s been a rough time of late for the Nickel Industries Ltd (ASX: NIC) share price. Nickel Industries (formerly known as Nickel Mines) ended up closing at 94 cents a share today, down 1.57% from Friday’s close of 96 cents. That puts the company’s shares down around 35% year to date, as well as down more than 10% over the past 12 months.

So why have Nickel Industries shares been in the wars of late? There have been a few things going on in the nickel space. As my Fool colleague Monica looked into last month, nickel markets were roiled earlier this year when nickel was caught in a short squeeze. This saw a dramatic spike, followed by a plunge, in the nickel price.

That overshadowed what was arguably a positive quarterly result in late April. This saw Nickel Industries report a 10.7% rise in nickel production, as well as an 18.7% lift in earnings before interest, tax, depreciation, and amortisation (EBITDA) to US$81.7 million.

So after such a rough patch for Nickel Industries, what might the future hold for this nickel miner?

Is the Nickel Industries share price a buy today?

Well, one broker reckons the Nickel Industries share price could more than double its current level over the next 12 months. As my Fool colleague James covered last week, ASX broker Bell Potter is currently very bullish on Nickel Industries shares.

The broker currently rates the company as a “buy”, with a 12-month share price target of $2 a share. That would represent an upside of almost 113% on the last share price.

Here’s some of what Bell Potter said about the company:

Despite rising input costs in CY22 [the 2022 calendar year], NIC has been able to maintain and expand margins and following the successful commissioning of the Angel Nickel Project, NIC is on track for earnings growth of over 60%…

NIC is trading on undemanding valuation multiples and remains one of our Top Picks for CY22.

So that’s a pretty unambiguously bullish opinion there from Bell Potter. No doubt investors would be delighted to hear it too. But we shall have to wait and see what the next 12 months hold in store for this company.

At the current Nickel Industries share price, this ASX 200 nickel share has a market capitalisation of $2.56 billion, with a dividend yield of 2.97%.

The post Could the Nickel Industries share price more than double from here? appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX shares today
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why are Lake Resources shares becoming a short seller target?
• Here are the 5 best ASX 200 bank shares of FY22
• ASX 200 mining shares glide lower as expert reduces commodity targets

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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S&P/ASX 200 Index (ASX: XJO) mining and tech shares weighed on the market on Monday. The ASX 200 index was 1.14% lower at 6,602.20 points when the market closed.

Its suffering came on the back of a mixed session on Wall Street. The S&P 500 slipped close to 0.1% on Friday while the Dow Jones Industrial Average fell 0.15%. Meanwhile, the NASDAQ Composite rose 0.12%.

The S&P/ASX 200 Materials Index (ASX: XMJ) plunged more than 2% on Monday, potentially on the back of falling base metals. Iron ore futures lifted 0.4% on Friday to trade at US$113.76 – 1.3% lower than it ended the previous week.

Today wasn’t much better on the S&P/ASX 200 Information Technology Index (ASX: XIJ). The sector also plunged more than 2% on Monday, driven lower by the EML Payments Ltd (ASX: EML) share price’s 24% tumble. The company notified the market of its CEO’s unexpected departure this morning.  

The S&P/ASX 200 Energy Index (ASX: XEJ) posted a slight gain today, potentially on the back of higher oil and coal prices.

At the end of Monday’s trade, two of the ASX 200’s 11 sectors were in the green.

But not all shares suffered today. Read on to find out which ASX shares bested the rest to post Monday’s biggest gains.

Top 10 ASX shares countdown

Perhaps unsurprisingly, the top performer among ASX’s 200 biggest companies by market capitalisation is coal producer New Hope Corporation Limited (ASX: NHC).

The company’s share price lifted around 5% today, likely due to rising coal prices. Read more about New Hope Corporation here.

The Meridian Energy Ltd (ASX: MEZ) share price was the second best performer, gaining around 4%. Catch up on what’s been happening with Meridian Energy here.

Today’s top 10 biggest gains were made by these ASX shares:

ASX-listed company	Share price	Price change
New Hope Corporation Limited (ASX: NHC)	$3.79	5.28%
Meridian Energy Ltd (ASX: MEZ)	$4.41	4.5%
Summerset Group Holdings Ltd (ASX: SNZ)	$9.36	4.23%
Suncorp Group Ltd (ASX: SUN)	$11.25	1.81%
Shopping Centres Australasia Property Group Ltd (ASX: SCP)	$2.87	1.41%
Sonic Healthcare Limited (ASX: SHL)	$33.75	1.35%
Vicinity Centres (ASX: VCX)	$1.90	1.33%
Whitehaven Coal Ltd (ASX: WHC)	$5.09	1.19%
Scentre Group (ASX: SCG)	$2.75	1.1%
Magellan Financial Group Ltd (ASX: MFG)	$12.01	1.02%

Data as at 3:59 pm AEST.

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

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More reading

• Could the Nickel Industries share price more than double from here?
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why Althea, AnteoTech, New Hope, and Omni Bridgeway shares are pushing higher
• Why are Lake Resources shares becoming a short seller target?
• Here are the 5 best ASX 200 bank shares of FY22

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 EML Payments. The Motley Fool Australia has positions in and has recommended EML Payments and Shopping Centres Australasia Property Group. The Motley Fool Australia has recommended Sonic Healthcare 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 Breville Group Ltd (ASX: BRG) share price started the week in the red.

The appliance manufacturer’s shares ended the day almost 2% lower at $19.45.

This means the Breville share price is now down 40% in 2022.

Is the Breville share price weakness a buying opportunity?

One leading broker that sees the weakness in the Breville share price this year as a buying opportunity is Goldman Sachs.

According to a note, the broker has just initiated coverage on the company’s shares with a buy rating and $23.40 price target.

This price target implies potential upside of over 20% for investors over the next 12 months.

What did the broker say?

Goldman notes that the Breville share price has fallen heavily this year and is thoroughly underperforming the market. It believes investors are “concerned that it was a key beneficiary during COVID in-home consumption and that reopening could result in weakness from consumption.”

However, Goldman doesn’t believe this will be the case and expects its solid growth to continue thanks to a three-pronged growth strategy.

It explained:

We believe that the portioned and R&G coffee market will experience more secular growth than the market has factored in with continued upgrading from soluble coffee and added penetration of out-of-home (e.g. hotels, workplace). We see BRG as having a three-pronged growth strategy: 1) building on secular growth of the portioned and roast & ground (R&G) coffee market and achieving market share gains; 2) new market entry; and 3) options – ecosystem revenue streams.

Overall, the broker believes that this will underpin “a FY22-24e 10.4% sales CAGR and 14.9% NPAT CAGR with ROIC in 2024 of 28.9%.”

In light of this, it sees plenty of value in the Breville share price following recent weakness.

The post Top broker says Breville share price weakness is a buying opportunity appeared first on The Motley Fool Australia.

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More reading

• Here are 3 excellent ASX growth shares for investors to buy in July
• Here are the top 10 ASX shares today
• Why APM, Block, Breville, and Superloop shares are charging higher
• ASX 200 midday update: Suncorp’s update, Magellan sinks
• Is the Breville share price out of the bargain bin?

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

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The Resmed Inc (ASX: RMD) share price had a year of ups and downs on the market, finishing around 6% in the red.

Resmed shares reached a 52-week high of $40.28 on 23 August and, after heading sideways for a short time afterwards, began their journey south.

In broader market moves, the S&P/ASX 200 Health Care Index (ASX: XHJ) is down more than 7% year to date.

What happened with the Resmed share price in FY22?

Shares in the sleep treatment company saw a series of paper losses last financial year.

After falling off its 52-week high, outlined above, the Resmed share price continued its descent and finished at a 52-week low of $27.63 on 27 May.

It was a fairly quiet year in terms of news for the company so it was no surprise to see its share price track closely to the wider healthcare sector’s performance.

Healthcare shares as a whole weakened around September 2021. Losses were compounded in the January selloff and there’s been a slow recovery ever since.

As seen on the chart below, the healthcare index and the Resmed share price both entered a period of peaks and troughs throughout the year.

The pair have tracked remarkably closely over the past 12 months to finish down in FY22.

Despite its share price struggles in FY22, analysts are still bullish on Resmed shares. Morgans rates the company a buy and says it liked the outlook on Resmed’s “unique, patient-centric, connected-care digital platform”.

In all, eight brokers are saying Resmed shares are a buy whereas six say the company’s shares are a hold right now, according to Bloomberg data.

The post Why did the ResMed share price finish down in FY22? appeared first on The Motley Fool Australia.

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More reading

• 4 ‘quality’ ASX shares to buy in scary times: expert
• Here’s how ASX healthcare shares performed in FY22
• Why this broker is tipping the ResMed share price to rise 17%
• Pricing power: 2 ASX shares that can fight stagflation
• Best ASX shares to buy in July 2022

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 positions in and has recommended ResMed Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed Inc. 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 depressing start to the week for ASX shares this Monday. At market close, the All Ordinaries Index (ASX: XAO) has lost more than 1.2% of its value. But it’s been even worse for the Vulcan Energy Resources Ltd (ASX: VUL) share price.

Vulcan shares have finished the day down a painful 6.1% at $5.39 a share, pitifully underperforming the broader markets. So what’s going on with this ASX lithium stock?

Well, we can’t quite be sure. There’s been no news out of Vulcan today at all. We haven’t heard from the company since its announcement last week.

At the time, Vulcan announced that it had entered into an agreement with an Italian renewable energy company, Enel Green Power, to “explore the development of the Cesano licence”. Enel took a 50% stake in the Cesano license, which is close to Rome in Italy. On Friday last week, we covered how the Vulcan share price lept 8% on this news.

Why is the Vulcan share price down 6% today?

But after today’s movements, Vulcan shares have given up Friday’s gains and more. At today’s closing share price of $5.39, Vulcan shares are now down 48% in 2022 so far. The company also just recorded a loss of almost 30% for the 2022 financial year.

So perhaps we can explain Vulcan’s losses by looking at the other ASX lithium shares on the market. And we do seem to be seeing a pattern. Vulcan is not the only ASX lithium stock bleeding today.

Take Pilbara Minerals Ltd (ASX: PLS). Its shares finished down 2.55%. Core Lithium Ltd (ASX: CXO) lost 3.16%, while Liontown Resources Limited (ASX: LTR) fell 2.94%.

So even though Vulcan’s losses are far more than its peers, it seems the company has just been swept up in a rejection of ASX lithium stocks by investors today. No doubt shareholders will be hoping for a better day tomorrow.

At the current Vulcan Energy Resources share price, this ASX lithium stock has a market capitalisation of more than $768 million.

The post Why has the Vulcan share price lost a nasty 6% today? appeared first on The Motley Fool Australia.

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More reading

• Why Pro Medicus, St Barbara, Vulcan, and Whitehaven Coal are pushing higher
• Vulcan Energy share price leaps 8% on Italian energy producer agreement
• Why did the Vulcan Energy share price crater 28% in June?
• Down 8%, why is the Vulcan Energy share price burning away today?
• How is the Vulcan share price performing against its sector this month?

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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With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

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

Computershare Limited (ASX: CPU)

According to a note out of Morgans, its analysts have upgraded this stock transfer company’s shares to an add rating with a $27.53 price target. Morgans has boosted its earnings estimates to reflect the improving outlook for interest rates. It expects this to allow the company to deliver a solid FY 2022 result and strong earnings growth in FY 2023. The Computershare share price is trading at $24.23 on Monday.

Harvey Norman Holdings Limited (ASX: HVN)

A note out of Goldman Sachs reveals that its analysts have retained their buy rating but cut their price target on this retail giant’s shares to $4.50. While the broker has revised its earnings estimates lower, it expects the company’s attractive valuation and high dividend yield to attract investors back into the stock. It also believes the company has ~$1.2 billion for potential bolt-on acquisitions or expanded capex for growth investments. The Harvey Norman share price is fetching $3.85 today.

WiseTech Global Ltd (ASX: WTC)

Analysts at Ord Minnett have upgraded this logistics solutions technology company’s shares to a buy rating with a $52.00 price target. The broker made the move on valuation grounds. It appears to see recent weakness in the tech sector as a buying opportunity for investors. The WiseTech share price is down over 30% in 2022 and currently trading at $40.88 on Monday afternoon.

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

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More reading

• Here are 2 ASX 200 dividend shares analysts rate as buys
• Here are the top 10 ASX shares today
• Why are ASX 200 tech shares sprinting higher today?
• Top broker picks two ASX 200 tech shares for today’s economy
• Here are the top 10 ASX shares today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Harvey Norman Holdings Ltd. and WiseTech Global. The Motley Fool Australia has positions in and has recommended Harvey Norman Holdings Ltd. and WiseTech Global. 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 Aurumin Ltd (ASX: AUN) share price is on the move today.

This comes after the Australian gold miner released its first assays results from its wholly-owned Central Sandstone Gold Project.

At the time of writing, Aurumin shares are up 34.78% to 15.5 cents apiece.

What were the results?

In its release, Aurumin announced that assay results were returned for the first hole from its current drilling campaign.

The goal of the reverse circulation (RC) and diamond drilling program is to extend and better define the existing mineral resource estimate (MRE) at Two Mine Hill.

On the first hole, RC drilling took place as a pre-collar to a depth of 109.5 metres before the diamond drilling took over. This was extended to a depth of 582.5 metres.

The visible gold showed a total intersection of 344 metres at 1.29 grams per tonne (g/t) of gold (Au).

A breakdown of these results includes:

• 40.9 meters at 2 g/t Au from a depth of 243.5 metres
• 21.8 meters at 2 g/t Au from a depth of 363.9 metres
• 16.1 meters at 2.9 g/t Au from a depth of 409.9 metres
• 19.3 meters at 2 g/t Au from a depth of 528.7 metres
• 22.2 meters at 2.5 g/t Au from a depth of 555 metres

Aurumin managing director, Brad Valiukas touched on the outstanding result saying:

We are very happy with how Sandstone is progressing. We have been expanding our tenement footprint, looking for new deposits and advancing the 500koz Au Two Mile Hill underground deposit with deep holes.

This is a great result from our first hole at Two Mile. We look forward to further results, with the 4th diamond drill hole and programme now completed.

We continue to see the Two Mile Hill underground deposit as a key part of the project going forward, with the scale to potentially underpin future production.

Aurumin share price summary

Despite today’s euphoric gains, it has been a disappointing 12 months for Aurumin investors.

The company’s shares are down 22.5% since this time last year, with year-to-date falling almost 14%.

Aurumin presides a market capitalisation of roughly $12.56 million.

The post Here’s why the Aurumin share price is skyrocketing 35% on Monday appeared first on The Motley Fool Australia.

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More reading

• Is the Bitcoin price heading down to US$10,000? Here’s Wall Street’s take
• Why Costa, Domino’s, EML, and Novonix shares are dropping
• Why are these ASX 200 lithium shares tumbling today?
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why Althea, AnteoTech, New Hope, and Omni Bridgeway shares are pushing higher

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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The Bitcoin (CRYPTO: BTC) price is down 3% since this time yesterday, currently trading for US$20,516 (AU$30,018).

Despite the retrace, the world’s top crypto by market cap remains up for the full week, having traded as low as US$19,341 last Monday.

However, as you’re likely aware, Bitcoin remains well-down from its 10 November all-time highs of US$68,790.

So, with the Bitcoin price having tumbled 70% since November, could it be looking at another 50% fall from here? Or is the world’s original token set for a 50% leap instead?

Wall Street surveyed on outlook for Bitcoin price

That’s the multi-billion dollar question the MLIV Pulse Survey set out to answer.

The survey, which took place over four days last week, asked 950 retail and institutional investors on Wall Street whether they expect the Bitcoin price to trade for US$10,000 or US$30,000 first.

With rising inflation and interest rates in mind, and the big sell-off that’s already seen in risk assets like high growth tech shares and cryptos, 60% of respondents said they believe the top crypto is more likely to fall to US$10,000 than rocket back to US$30,000.

As Bloomberg noted, retail investors were more sceptical about the broader crypto market than professional investors, with 24% of retail investors agreeing that “all cryptos are garbage” compared to 18% of institutional investors.

On the bullish side, 26% of professional investors believe “cryptocurrencies are the future”, compared to 23% of retail investors.

As for when the Bitcoin price might bottom?

Searching for the lows

In commentary unrelated to the MLIV Pulse Survey, Marcus Sotiriou, analyst at GlobalBlock, reiterated the correlation between the tumbling Bitcoin price in 2022 and the abrupt return of higher than expected inflation in the United States, the world’s top economy.

According to Sotiriou (quoted by Bloomberg):

The only Bitcoin bottom signal for me is persistent data showing us that inflation is convincingly inflecting down. This should result in the Federal Reserve becoming less aggressive with their monetary policy, and therefore provide confidence that the liquidity crisis in the crypto market is over.

The latest inflation data out of the US is due Wednesday evening, Australia time.

The post Is the Bitcoin price heading down to US$10,000? Here’s Wall Street’s take appeared first on The Motley Fool Australia.

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More reading

• What went so right and so wrong for the Bitcoin price in the 2022 financial year?
• Why did the Bitcoin price crash 41% in June?
• Why Bitcoin stocks crashed (again) last month
• How did the price of crypto assets perform in June?
• Here’s what will impact the Bitcoin price in July: expert

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

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on track to start the week with a disappointing decline. At the time of writing, the benchmark index is down 1.05% to 6,608.8 points.

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

Costa Group Holdings Ltd (ASX: CGC)

The Costa price is down 13% to $2.50. This follows the release of a broker note out of Credit Suisse and a trading update. In respect to the former, the broker has downgraded the horticulture company’s shares to a neutral rating and slashed the price target on them by 24% to $2.80. As for the latter, Costa warned that there are quality issues across its citrus portfolio.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The Domino’s share price is down 5.5% to $71.25. This appears to have been driven by a bearish note out of Goldman Sachs. Its analysts have downgraded the pizza chain operator’s shares to a sell rating and cut the price target on them to $59.20. Goldman believes the company will fall short of consensus earnings estimates.

EML Payments Ltd (ASX: EML)

The EML share price has crashed 22% to 99.2 cents. This morning the payments company announced the surprise exit of its long-serving CEO, Tom Cregan, with immediate effect. EML has appointed Emma Shand as its new managing director and CEO. She has been a director at the company since last year.

Novonix Ltd (ASX: NVX)

The Novonix share price is down 10.5% to $2.20. Investors have been selling this battery technology company’s shares following the release of a broker note out of Morgans. It said: “The market is pricing in risk much more aggressively and NVX has not yet proven the viability of its anode business with blue chip clients at scale. We have therefore reduced our target price to $2.98 (-39%) with a higher assumed cost of equity and a later assumed ramp up of production.”

The post Why Costa, Domino’s, EML, and Novonix shares are dropping appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Monday
• Domino’s share price drops 5% on bearish broker note
• Novonix share price sinks 8% following ‘gun shy’ broker note
• Why is the Costa share price sinking 12% to a two-year low?
• ASX 200 midday update: EML crashes amid CEO exit, Costa and Domino’s sink on broker downgrades

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 EML Payments. The Motley Fool Australia has positions in and has recommended EML Payments. The Motley Fool Australia has recommended COSTA GRP FPO and 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 share prices of two S&P/ASX 200 Index (ASX: XJO) lithium favourites, Allkem Ltd (ASX: AKE) and Liontown Resources Limited (ASX: LTR), are suffering today.

Interestingly, there’s been no news from the companies on Monday. However, they’re joined in the red by many of their ASX 200 lithium peers.

Here’s a closer look at how the pair is performing today:

• The Allkem share price is currently $10.10, 3.39% lower than its previous close
• The Liontown Resources share price is 99.8 cents right now, 2.21% lower than it was at the end of Friday’s session

For comparison, the ASX 200 is down 1.02%, while the S&P/ASX 200 Materials Index (ASX: XMJ) has slumped 2.34%.

What’s weighing on these ASX 200 lithium shares?

Shares in ASX 200 lithium stocks Allkem and Liontown Resources appear to have been caught up in lithium and materials’ about-face on Monday.

Firstly, the broader materials sector’s suffering is likely weighing on the stocks. The index housing plenty of mining giants is currently the ASX 200’s worst-performing index.

And among the worst performers in the materials sector today is fellow lithium favourite Lake Resources NL (ASX: LKE).

The stock is currently tumbling 4.86% as its short interest leaps to join some of the market’s most shorted shares.

Lake Resources’ short interest had increased nearly 5% over the last month to place it as the fifth most shorted ASX share in The Motley Fool’s latest short-selling update.  

A similar jump has been experienced by ASX 200 newbie Core Lithium Ltd (ASX: CXO) – 7.7% of the company’s stocks are in the hands of short-sellers, according to the most recent data.

And while neither Allkem nor Liontown Resources have seen their short interest increase, sentiment for lithium may have shifted alongside short seller’s interest in some lithium stocks.

Finally, today’s slip could be the result of continued volatility.

The share prices of Allkem and Liontown Resources lifted 5% and 7% respectively on Friday. That left them having gained 3.3% and 2% respectively last week.

Thus, today’s dip might be in response to their strong performances last week.

The post Why are these ASX 200 lithium shares tumbling today? appeared first on The Motley Fool Australia.

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More reading

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• Why are Lake Resources shares becoming a short seller target?
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• These are the 10 most shorted ASX shares
• ASX battery metals shares trying to power up after a horror June

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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