Category: Stock Market

The EML Payments Ltd (ASX: EML) share price is tumbling on Thursday amid reports of a broker downgrade.

At the time of writing, the EML Payments share price is $1.29, 9.15% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is in the green right now, having gained 0.18%. Meanwhile, the S&P/ASX 200 Information Technology Index (ASX: XIJ) is slipping 1.27%.

Let’s take a closer look at what might be weighing on the ASX 200 financial services company.

What’s dragging on EML Payments today?

The EML Payments share price is handing back most of its Wednesday gains amid reports that RBC Capital has cut its outlook on the stock.

The broker has downgraded EML Payments to ‘sector perform’, The Australian reports.

Though, it still has a $1.80 price target on the company’s shares, representing a 27% upside on the company’s previous close.

The reported downgrade follows yesterday’s news that the company is working with the operator of Spain’s post office network to roll out a national stimulus program.

It will be loading approximately half a million prepaid virtual cards with 400 euros each. The cards will be issued to eligible 18-year-olds who will be able to spend the funds on cultural products and activities.

The company’s stock launched 10.5% higher on the back of Wednesday’s announcement. Thus, some of today’s fall could be attributed to profit-taking.

EML Payments share price snapshot

Today’s tumble is just the latest for EML Payments this year.

The company’s share price has fallen more than 60% since the start of 2022.

It’s also 65% lower than it was this time last year.

The post Why is the EML Payments share price sinking 9% today? appeared first on The Motley Fool Australia.

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More reading

• ASX 200 midday update: Chalice Mining jumps, Zip sinks on bearish broker note
• Why Domino’s, EML, Talga, and Woolworths shares are pushing higher
• These 3 ASX 200 tech shares are on fire today
• EML share price leaps 16% on Spanish government stimulus contract
• ASX 200 midday update: BHP and Fortescue sink, EML and ZIP jump

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. 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 Zip Co Ltd (ASX: ZIP) share price is cratering in morning trade on Thursday and now sits 7% lower at 53.5 cents.

Investors have pushed Zip lower today on no news. However, noteworthy is a bearish research note out of UBS today, highlighting growing concerns for the company.

In broad market moves, the S&P/ASX 200 Index (ASX: XJO) is rangebound today and is flat on the day at 6,597.

Sell now, sell later for the Zip share price

In contrast to its buy now, pay later (BNPL) business model, investors have adopted a sell at all costs mentality with Zip these past 12 months.

The share has been on a downward glide in that time and has shown no signs of reversing out of the downtrend.

It reached 52-week lows on 30 June and has been wiggling sideways up until today’s trading.

Analysts at UBS have taken note of this and other risks in Zip’s profile. The team have rated the share a sell and reduced its price target to 45 cents.

UBS has chosen to look at gross receivables to rate Zip’s credit performance and estimate that the BNPL player’s bad and doubtful debt (BDD) provisions are set to increase.

It reckons Zip has an annualised BDD expense of around 12.4% for this first half, up from 7.4% a year ago.

With Zip’s arrears making up more of its receivables, the broker said it expects “credit quality to remain soft this half”.

“In order for Zip to achieve profitability…[t]his will involve growing its receivables – which in our view means taking on more risk,” it said.

“[Zip] needs to achieve revenue and cost synergies with Sezzle, an improvement in credit performance, and organic growth,” it added.

The post Zip share price cops 6% slashing as analyst fears grow appeared first on The Motley Fool Australia.

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More reading

• ASX 200 midday update: Chalice Mining jumps, Zip sinks on bearish broker note
• ASX 200 midday update: BHP and Fortescue sink, EML and ZIP jump
• Zip share price reignites with a 19% rally amid tech bounce
• Up and back down: Why is the Zip share price volatile today?
• The Zip share price lost 94% of its value in FY22

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 ZIPCOLTD FPO. 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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At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. The benchmark index is currently up 0.3% to 6,615.7 points.

Here’s what is happening on the ASX 200 today:

Bendigo and Adelaide Bank’s acquisition

The Bendigo and Adelaide Bank Ltd (ASX: BEN) share price is trading lower at lunch despite the announcement of an earnings accretive acquisition. The company has agreed to acquire the investment lending portfolio of Australia and New Zealand Banking Group Ltd (ASX: ANZ). Bendigo and Adelaide Bank will pay an “immaterial premium over book value” for the $715 million investment lending portfolio.

Chalice Mining jumps

The Chalice Mining Ltd (ASX: CHN) share price is surging higher today after the release of a drilling update. According to the release, a new nickel-copper-PGE sulphide zone has been intersected in initial drilling at the Dampier target, ~10km north of the Gonneville Deposit. Management notes that this is the first significant indication of orthomagmatic sulphide mineralisation outside of the Gonneville Deposit and is considered an exciting result.

Zip shares sink on bearish broker note

The Zip Co Ltd (ASX: ZIP) share price is sinking on Thursday. This appears to have been driven by a broker note out of UBS this morning. According to the note, the broker has retained its sell rating on the buy now pay later provider’s shares and cut its price target by 50% to 45 cents. UBS is concerned that Zip could inadvertently worsen its credit performance if it raises fees in an effort to improve profitability.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Thursday has been the Chalice Mining share price with a 10% gain following the company’s drilling update. Going the other way, the EML Payments Ltd (ASX: EML) share price is the worst performer with a 9% decline. This may have been driven by a combination of weakness in the payments industry and potential profit taking after a strong gain yesterday.

The post ASX 200 midday update: Chalice Mining jumps, Zip sinks on bearish broker note appeared first on The Motley Fool Australia.

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More reading

• Why is the EML Payments share price sinking 9% today?
• Zip share price cops 6% slashing as analyst fears grow
• Bendigo Bank shares rise after going long on leverage with ANZ lending acquisition
• Chalice Mining share price leaps 13% on new exploration results
• 5 things to watch on the ASX 200 on Thursday

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 and ZIPCOLTD FPO. The Motley Fool Australia has positions in and has recommended Bendigo and Adelaide Bank Limited and EML Payments. 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 had a tough June, but some analysts are tipping better times ahead.

Santos shares plunged 9.51% in the month of June. In today’s trade, the company’s share price is falling again, by 1.57% to $6.91. For comparison, the S&P/ASX 200 Energy Index (ASX: XEJ) is currently dropping by 0.38% today.

Let’s take a look at the outlook for this oil and gas share in July.

Can the Santos share price go higher?

Santos shares dropped in June amid falling oil and gas prices. The crude oil price fell 5.5% from US $111.91 a barrel to US$105.76 a barrel in June, Trading Economics data shows. Natural gas prices also dropped dramatically by 33% from US$8.1380 per million British thermal units (MMBtu) to US$5.4240 MMBtu.

However, looking ahead to July, Luke Smith from Ausbil Investment Management is positive on the Santos share price and said the company is a buy. He added:

We’re bullish on both oil and gas. Santos, for us, is the preferred way to play that in the Australian space. [It] has lagged the commodity for some time.

Also sharing his view was Tom Richardson from Paradice Investment Management. He predicts the Santos share price will reflect cash coming back to shareholders in the future. He said:

I think that’s inevitable with Santos. As much as development optionality they’ve got, there’s going to be a lot of cash coming back to shareholders and the share price will reflect it.

Oil and gas outlook

Santos is a major oil and gas producer. Looking at gas, UBS analysts have recently predicted east coast gas prices will jump 10% a year up to 2025.

The closure of coal-fired power stations could lead to more reliance on gas-fired power, according to UBS. It said: “While it may take some time for electricity prices to normalise, we expect the role of gas-fired power generation to lift as coal continues to exit the market.”

Oil prices fell more than 10% in US markets on Tuesday. Overnight, oil prices dropped a further 2% on global recession fears, Reuters reported.

Yesterday, the team at Citi put out a note warning this decline could continue in a recession scenario. Citi said:

In a recession scenario with rising unemployment, household and corporate bankruptcies, commodities would chase a falling cost curve as costs deflate and margins turn negative to drive supply curtailments.

Share price snapshot

Santos shares have lost nearly 4% over the past 12 months, but they have risen more than 9% this year to date.

For perspective, the S&P/ASX 200 Energy Index has rocketed nearly 21% year to date and close to 15% in a year.

Santos has a market capitalisation of about $23.3 billion based on the current share price.

The post Down nearly 10% in June, can the Santos share price recover in July? appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Thursday
• How did the Santos share price perform in FY22?
• How is the oil price plunge impacting ASX 200 oil shares today?
• Leaking oil price sends Santos shares into the red
• ASX 200 midday update: BHP and Fortescue sink, EML and ZIP jump

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 Link Administration Holdings Ltd (ASX: LNK) share price is up 6.6% in morning trade to $4.08.

The big lift in the administration services company’s shares comes after it received an improved takeover offer from Dye & Durham Corporation.

What is the new takeover offer?

It’s been a bit of a seesaw when it comes to the value that Dye & Durham places on the Link share price. Dye & Durham’s proposed acquisition of Link by way of a scheme of arrangement was first reported to the market on 22 December.

At the time the takeover offer was for $5.50 per share. But last week Monday 27 July, that figure was slashed by 22% to $4.30 per share.

The reduced Link share price offer came after the ACCC expressed concerns over the deal, apparently due to Link’s ownership in PEXA Group Ltd (ASX: PXA). Dye & Durham told Link management it may need to provide an undertaking to the ACCC to obtain approval for its acquisition.

Atop that undertaking, Dye & Durham also cited “the current state of the financial markets” for its reduced offer.

This Monday 4 July, the Link board reported it could not recommend the takeover for $4.30 per share while stating they’re continuing to negotiate the deal. The Link share price sank on the news.

But those negotiations look to have made some progress, as this morning Link reported Dye & Durham had increased its reduced offer by 6% to $4.57 per share.

The board said it will consider the revised offer. Link has opted to postpone the shareholders’ meeting scheduled for next Wednesday 13 July for a date yet to be determined.

Link share price snapshot

Despite the nice lift today, the Link share price remains down 27% in 2022. That compares to a year-to-date loss of 13% posted by the S&P/ASX 200 Index (ASX: XJO).

Link has a market cap of $2 billion.

The post Link share price jumps 7% on beefed up takeover bid appeared first on The Motley Fool Australia.

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More reading

• Why Audio Pixels, Lake Resources, Link, and Magellan shares are dropping
• Link share price drops on takeover rejection
• Why Imugene, Link, Metcash, and Sayona shares are racing higher
• Link share price pushes higher despite revised takeover offer
• Down 20% this week, why is the Link share price outperforming today?

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Link Administration Holdings Ltd and PEXA Group 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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ASX healthcare shares were a mixed basket this past financial year.

After a healthy first half of FY22, the sector took a massive plunge from the restart of trade in January.

The S&P/ASX 200 Health Care Index (ASX: XHJ) fell around 5% into the red for the 12 months to June 30. It traded in sideways territory from January to June.

These three healthcare shares are worthy of note. Let’s take a look at each one.

CSL Limited (ASX: CSL)

The biotech giant is a natural on this list. It suffered a similar fate to the wider sector on the charts in FY22.

After soaring to a 52-week high price of $318 on 24 November, ASX investors sold CSL down to a 52-week low of $243 per share by February.

CSL announced its acquisition offer for Vifor Pharma in December last year. It issued US$4 billion of bonds in the US debt capital markets to finance the transaction.

The six issued notes pay a coupon ranging from 3.85% to 4.95% per annum and range from five years to 40 years in tenor.

The CSL share price finished FY22 in a bullish uptrend that has continued into the new financial year. It is down 3.5% in 2022 so far and trading at $285.66 at the time of writing.

ResMed CDI (ASX: RMD)

Sleep treatment company ResMed recognised a series of losses in FY22.

ResMed reversed out of a bullish uptrend in late 2021. The ResMed share price fell from a high of $40.28 on 13 September to a 52-week low of $27.63 in May.

Despite its struggles, several analysts rate the ResMed share price a buy. Fundamentally, they say, the company is strong, and its long-term outlook is attractive.

Morgans is bullish on ResMed and says “nothing changes our medium/longer term view that the company remains well-placed as it builds a unique, patient-centric, connected-care digital platform.”

Meanwhile, analysts at HB Insights are also bullish. They reckon a product recall by ResMed’s competitor is a boon for the company.

“RMD is well positioned to deal with demand supply mechanics and now faces more demand than it can fulfil [with the competitor removed]” the broker said.

“This, along with new product launches as a catalyst, provides the economic pillars for top line expansion over the coming years,” it added.

“We are seeking … a price objective of $245 in the next 6-12 months, and are bullish in the near term amid catalysts described above,” HB Insights concluded.

This ASX healthcare share is trading down 0.92% today at $32.20.

Immutep Ltd (ASX: IMM)

Finally, Immutep is worth a mention in this list. The developer of LAG-3 immunotherapy cancer treatments had a choppy year and landed deep in the red.

Nevertheless, it released several updates across the 12 months regarding its flagship label, known as etfi.

Etfi gained more clinical trial momentum in FY22. It was most recently recognised at the American Society of Clinical Oncology 2022 special edition.

However, ASX investors appear to have overlooked this clinical progress, and have traded the Immutep share price down to a 52-week low of 29 cents on 30 June.

It has now levelled back up to trade at 32 cents.

The post Here’s how ASX healthcare shares performed in FY22 appeared first on The Motley Fool Australia.

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More reading

• Why this broker is tipping the ResMed share price to rise 17%
• Beating the benchmark: Why this broker is betting on the CSL share price for outperformance
• Here’s what happened to the CSL share price in June
• How did the Vanguard Australian Shares Index ETF perform in June?
• Pricing power: 2 ASX shares that can fight stagflation

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 CSL Ltd. and 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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The Janison Education Group Ltd (ASX: JAN) share price is racing higher on Thursday.

In morning trade, the education software provider’s shares are up 13% to 51 cents.

Why is the Janison share price rocketing higher?

Investors have been bidding the Janison share price higher today following the release of a trading update.

According to the release, the company expects to report revenue of $36 million in FY 2022, which represents a 20% or $6 million increase over the prior corresponding period.

While this was driven by growth across all strategic business units, a key highlight was its Assessments business. It reported a 35% increase in delivered tests to 8.7 million for the year.

Janison’s annualised recurring revenue (ARR) continues to grow, albeit at a slower rate. The company’s ARR grew 9% or $2 million to $25 million in FY 2022.

And thanks partly to an 8-percentage points improvement in its gross margin to 64%, Janison is expecting to report positive earnings before interest, tax, depreciation and amortisation (EBITDA) for the full year.

Outlook

Looking ahead, management is very positive on its prospects in FY 2023. Particularly given its streamlined operating model, which is expected to deliver material cost savings this year.

Combined with its positive growth outlook thanks partly to its robust pipeline of new assessment platform clients, management expects to be cash flow positive in FY 2023.

The release concludes:

Management remains confident in the medium-long term outlook for digital assessments (products and solutions) and the Company’s leading position in the market for powering high volume, highly secure and scalable assessments for schools and accreditation customers.

The impact of COVID over the past two years has increased the market size and rate of digital adoption but has pushed out the timing of customers’ willingness to commit to large-scale transformations or deployments due to the extent of disruption in the market and resourcing constraints.

The post Janison share price jumps 13% on FY22 trading update appeared first on The Motley Fool Australia.

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More reading

• Why Block stock cratered by nearly 62% in 2022’s first half
• Time is almost out to secure the Collins Foods dividend. Here’s what you need to do
• Why is the Infomedia share price falling 5% today?
• Bendigo Bank shares rise after going long on leverage with ANZ lending acquisition
• Chalice Mining share price leaps 13% on new exploration results

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 Janison Education Group Limited. The Motley Fool Australia has positions in and has recommended Janison Education Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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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

Shares of fintech company Block (NYSE: SQ) — formerly known as Square — tanked by 61.9% during the first half of 2022, according to data from S&P Global Market Intelligence. That was a far worse performance than the S&P 500 and Nasdaq Composite indexes, which fell by 21% and 31%, respectively, from their all-time highs. 

So what

There were many reasons for Block’s steep drop. The biggest factor was rising interest rates. In an attempt to get inflation under control, the Federal Reserve in March began lifting its benchmark federal funds rate from the near-zero it had cut it to at the start of the pandemic to an upward limit of 2% as of June. More rate hikes are expected following the next two Fed meetings in July and September. The federal funds rate is still at a historically low level, but the speed and magnitude of the rate changes have dragged down Block and other high-growth but richly valued stocks. There is an inverse relationship between interest rates and the present value of risk assets like stocks. Thus, rising rates generally lead to lower stock prices.

Data by YCharts

Some investors were also skeptical of Block’s bets on the Bitcoin (CRYPTO: BTC) blockchain network — the reason for the corporate rebrand from “Square” to “Block.” It will take years for these efforts to pay off, if they do at all, since there are other competing crypto networks also vying for developer attention. Block also made a big acquisition, picking up “buy now, pay later” outfit Afterpay in an all-stock deal.

And, of course, there are the growing worries that the U.S. may be headed for a recession. The economy has multiple headwinds working against it this year, and some economists think a recession is already underway. If the consumer takes a hit, Block’s growth momentum could be negatively impacted. 

Now what

The good news is that despite all of these issues, Block is still in fast expansion mode as individuals and small businesses rapidly adopt its digital finance platform. Gross profit (revenue minus the cost of revenue) was $1.29 billion in Q1 2022, a 34% year-over-year increase. Profitability, as measured by free cash flow, also rose to $188 million.

After its epic share price decline in the first half of 2022, Block trades for 34 times trailing-12-month free cash flow. That’s still a premium price tag, but if the fintech leader can continue its growth streak over the next few years, it could be a worthwhile value for investors who buy and hold. Just remember to make Block part of a well-diversified portfolio if you do choose to invest in it. 

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

The post Why Block stock cratered by nearly 62% in 2022’s first half appeared first on The Motley Fool Australia.

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More reading

• Why are ASX tech shares struggling today?
• Block shares are back on the buy list for this big-name investor

Nicholas Rossolillo has positions in Bitcoin and Block, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin and Block, Inc. The Motley Fool Australia has positions in and has recommended Bitcoin and Block, Inc. 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 Collins Foods Ltd (ASX: CKF) share price has been climbing over the past week.

In fact, since the release of the company’s full-year results on 28 June, the restaurant operator’s shares are up by more than 6%.

At the time of writing, Collins Foods share are travelling 0.86% higher for the day to $10.60.

Let’s take a look at what’s driving these gains.

Collins Foods shares set to trade ex-dividend

Despite the volatility impacting ASX shares of late, the Collins Foods share price has continued to rise.

It appears investors have been jumping on board ahead of the ex-dividend date for the company’s shares.

Investors need to buy Collins Foods shares before market close today to be eligible for the final dividend. The ex-dividend date is on Friday 8 July.

Historically, when a company reaches its ex-dividend day, its shares tend to fall after shareholders lock in the latest dividend.

When is payday for Collins Foods shareholders?

For those eligible for the Collins Foods dividend, shareholders will receive a payment of 15 cents apiece on 1 August.

This brings the full-year dividend to 27 cents, and reflects a 17.4% lift from the previous financial year.

The dividend is also fully franked.

Franking credits, or imputation credits, are highly regarded in the investing world. This is a type of tax credit that is passed onto shareholders when dividend payments are made by a company.

In addition, investors can elect for the dividend reinvestment plan (DRP), which will add a portion of shares to their portfolio instead.

There is no DRP discount rate, however price will be determined by the daily volume-weighted average (VWAP) from 13 July to 26 July.

The last election date for shareholders to opt-in to the DRP is 12 July.

Share price snapshot

Since the start of 2022, the Collins Foods share price has travelled more than 20% lower following tough macroenvironmental conditions.

The company’s shares reached a 52-week low of $8.04 last month, before treading higher in the following weeks.

Collins Foods commands a market capitalisation of roughly $1.24 billion and has a dividend yield of 2.36%.

The post Time is almost out to secure the Collins Foods dividend. Here’s what you need to do appeared first on The Motley Fool Australia.

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setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
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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 positions in and has recommended Collins Foods Limited. The Motley Fool Australia has recommended Collins Foods 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 Infomedia Limited (ASX: IFM) share price is plunging on Thursday after the company announced the highest bidder has dropped out of the multi-horse race to acquire it.

United States-based technology investment firm Battery Ventures has withdrawn its $1.75 per share bid.

At the time of writing, the Infomedia share price is $1.60, 5.04% lower than its previous close.

Let’s take a look at the latest news from the automotive industry software-as-a-service (SaaS) provider.

Infomedia share price falls as Battery Ventures walks

The Infomedia share price is tumbling on news that one of the three parties lined up to take over the company has dropped out of the race.

And not just any of the three – Battery Ventures was the highest bidder.

Its $1.75 per share offer was notably higher than those posed by TA Associates and Viburnum (TA Consortium) and Solera Holdings (Solera). Both of these remaining interested parties have offered just $1.70 per share.

In other news, the company’s board has granted Solera and TA Consortium preliminary due diligence material and access to management. It has also committed to continuing discussions with the potential acquirers to help move their proposals towards binding offers.

The Infomedia share price launched 28.5% in mid-May when TA Consortium put forward its interest in snapping up the company.

The stock surged once more later that month when Battery Ventures jumped on the bandwagon.

Solera, meanwhile, didn’t announce its interest until mid-June.

Both TA Consortium and Solera’s offers are payable in cash. They’re also subject to several conditions, including due diligence and shareholder approval.

Share price snapshot

Fortunately, today’s fall hasn’t been enough to send the Infomedia share price into the long-term red.

The stock is currently 4.5% higher than it was at the start of 2022.

It’s also trading for 9.5% more than it was this time last year.

The post Why is the Infomedia share price falling 5% today? appeared first on The Motley Fool Australia.

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setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
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setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

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• Infomedia share price surges 9% following third takeover approach

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 Infomedia. The Motley Fool Australia has recommended Infomedia. 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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