Category: Stock Market

Yesterday we looked at three ASX shares brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with brokers right now. Three that have just been given sell ratings are listed below. Here’s why these brokers are bearish on these ASX shares:

Fortescue Metals Group Limited (ASX: FMG)

According to a note out of Goldman Sachs, its analysts have retained their sell rating and trimmed their price target on this mining giant’s shares to $14.90. Although Fortescue outperformed Goldman’s estimates with its record third quarter shipments, it wasn’t enough for a change of rating. The broker continues to have issues with its valuation and believes its premium to fellow large cap miners is unwarranted considering the lack of diversification and risks around future capital spend and returns. The Fortescue share price was trading at $20.61 on Tuesday.

Kogan.com Ltd (ASX: KGN)

A note out of Credit Suisse reveals that its analysts have downgraded this ecommerce company’s shares to an underperform rating and slashed the price target on them to $3.75. Credit Suisse was disappointed with Kogan’s quarterly update and notes that its sales fell well short of its expectations during the period. And with inventory and costs high, the broker has concerns over its profits and also its cash flows. The Kogan share price has now dropped below this price target to $3.73.

Zip Co Ltd (ASX: ZIP)

Analysts at UBS have retained their sell rating and cut their price target on this buy now pay later provider’s shares to a lowly 90 cents. This follows the release of Zip’s third quarter update. While that update revealed solid growth in absolute terms, it was still well short of UBS’ second half growth forecasts. In addition, the broker highlights Zip’s softening transaction frequency and suspects that its active customers includes inactive customers that will soon drop off. The Zip share price was trading at $1.16 on Tuesday afternoon.

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

More reading

• Why is the Fortescue share price down 5% on Tuesday?
• Here’s how some of the biggest ASX 200 shares are responding to the RBA’s rate rise
• Why Block, Domain, Metcash, and Zip shares are pushing higher
• Back in the green: Zip share price launches 6% on Tuesday
• How did the Fortescue share price stack up in April?

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 Kogan.com ltd and ZIPCOLTD FPO. The Motley Fool Australia has positions in and has recommended Kogan.com ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Lake Resources N.L. (ASX: LKE) share price struggled on the ASX today.

The lithium explorer’s shares fell by 6.68% to $1.745. In contrast, the S&P/ASX 200 Index (ASX: XJO) slid 0.42% in today’s trade.

Let’s take a look at what is happening at Lake Resources.

Lithium explorer falls

The Lake Resources share price has sunk to its lowest level since late March today. For perspective, the S&P/ASX 200 Materials (ASX: XMJ) index fell by more than 1% today while the shares of ASX lithium miner Core Lithium (ASX: CXO) also closed 4.53% lower.

In today’s news, Lake advised the market company secretary Garry Gill has resigned as joint company secretary. Peter Neilsen will remain in his role as company secretary and chief financial officer.

Commenting on the news, the company said:

The board expresses its appreciation to Mr Gill for his services to the company and wishes him well for the future.

Lake Resources is exploring lithium from multiple projects including the flagship Kachi Project in Argentina. Lake aims to produce 100,000 tonnes of lithium by 2030. Lithium is a critical component of Electric Vehicle (EV) batteries.

The lithium carbonate price has fallen 6.85% in a month to 462,500 yuan per tonne, Trading Economics data shows.

Lake Resources share price snapshot

The Lake Resources share price has soared 463% in the past 12 months and is up 73% this year to date.

In contrast, the benchmark index has returned about 4% in the past year.

Lake Resources has a market capitalisation of about $2.3 billion based on the current share price.

The post Why did the Lake Resources share price tumble 7% today? appeared first on The Motley Fool Australia.

More reading

• Why is the Lake Resources share price beating its sector today?
• What are the 10 biggest ASX shares in the lithium space
• Here are the top 10 ASX shares today
• Lake Resources share price spikes 14% as lithium prices begin to ease
• Analysts name 3 top ASX lithium stocks to buy now

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 Telstra Corporation Ltd (ASX: TLS) share price zipped higher over the past month following positive investor sentiment.

In April, the telco provider’s shares have gained around 2%. By compassion, the S&P/ASX 200 Index (ASX: XJO) fell almost 1% over the same period.

It’s worth noting that Telstra shares reached a 2-month high of $4.06 on 21 April before treading lower.

At Tuesday’s market close, the company’s shares finished 0.25% lower to $3.98.

Below, we take a closer look at what fuelled the Telstra share price.

What’s drove Telstra shares higher last month?

While the company’s kept relatively quiet on the news front during April, investors continued to buy up Telstra shares.

The positive outlook on the company is stemming from the successful implementation of its transformational T22 strategy. Management sees this as a way of simplifying and digitising the business.

However, the upcoming T25 strategy which builds on the T22 strategy is posed for driving growth. Its aim is to further support dividends through a number of cost-cutting and value-adding initiatives.

In addition, the appointment of new CEO, Ms Vicki Brady appeared to excite investors.

Ms Brady is scheduled to take over the helm from outgoing CEO Andy Penn on 1 September.

They both have been working together to ensure a smooth handover.

Lastly, Telstra has been busy conducting its planned $1.35 billion buyback program. Currently, management has spent $1.15 billion so far following the partial sales of the Towers transaction.

It is expected that the sale will be completed by the end of the financial year.

Telstra share price summary

In 2022, the Telstra share price has lost around 5%, despite reaching pre-pandemic levels.

If the company’s share price can push above $4.31 this year, it will be at a multi-year high from 2017.

Telstra commands a market capitalisation of around $46.42 billion, making it the 11th largest company on the ASX.

The post Why did the Telstra share price beat the ASX 200 in April? appeared first on The Motley Fool Australia.

More reading

• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Rates are up! Expert names 2 ASX shares for a global downturn
• The ASX 200 shares that fund managers are buying and dumping
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Best ASX shares to buy in May 2022

Motley Fool contributor Aaron Teboneras has positions in Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Corporation 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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Today, the S&P/ASX 200 Index (ASX: XJO) slipped into the red following the Reserve Bank of Australia’s decision to lift the cash rate for the first time in 11 years. At the end of the session, the benchmark index finished 0.42% lower at 7,316.2 points.

Investors have been holding tight in preparation for central banks to increase interest rates amid high inflation prints. Today, the RBA handed down the much-awaited decision to boost the cash rate by 0.25%. Interestingly, tech and healthcare shares enjoyed some reinvigoration despite the expectation of further rate increases throughout the year.

Meanwhile, the other end of the market consisted of companies in the materials and real estate sectors. Notably, the real estate sector was the worst performer today as debts look set to become more expensive.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Stanmore Resources Ltd (ASX: SMR) was the biggest gainer today. Shares in the coal producer rallied 5.40% as some forecasts suggest wholesale electricity could double over the next year. Find out more about Stanmore Resources here.

Sliding in as the second biggest gainer today was Magellan Financial Group Ltd (ASX: MFG). The fund manager posted a gain of 5.40% amid reports that the company is moving on from Hamish Doughlass’s tenure on the board. Uncover the latest Magellan Financial Group details here.

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

ASX-listed company	Share price	Price change
Stanmore Resources Ltd (ASX: SMR)	$2.55	8.05%
Magellan Financial Group Ltd (ASX: MFG)	$17.17	5.4%
Block Inc CDI (ASX: SQ2)	$149.26	5.11%
GQG Partners Inc (ASX: GQG)	$1.45	4.32%
Lovisa Holdings Ltd (ASX: LOV)	$17.13	4.07%
Coronado Global Resources Inc (ASX: CRN)	$2.38	3.93%
Pro Medicus Ltd (ASX: PME)	$45.24	3.36%
Yancoal Australia Ltd (ASX: YAL)	$5.30	3.31%
Domain Holdings Australia Ltd (ASX: DHG)	$3.53	3.22%
Idp Education Ltd (ASX: IEL)	$27.14	2.92%

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.

More reading

• Here’s why the Metcash share price just hit a 15-year high
• Here’s how some of the biggest ASX 200 shares are responding to the RBA’s rate rise
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Could Polynovo shares get kicked out of the ASX 200?
• RBA increases cash rate by 25bps and warns of more hikes

Motley Fool contributor Mitchell Lawler has positions in Block, Inc. and Pro Medicus Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc., Idp Education Pty Ltd, and Pro Medicus Ltd. The Motley Fool Australia has positions in and has recommended Block, Inc. and Pro Medicus Ltd. The Motley Fool Australia has recommended Lovisa Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Core Lithium Ltd (ASX: CXO) share price dumped its early gains on Tuesday before plunging into the red.

The lithium developer released seemingly good news of its Finniss Project this morning, sending its share price up to 3% higher in early trade.

However, come Tuesday’s close, the Core Lithium share price finished at $1.265, 4.53% lower than its previous close.

Today was also a rough day for the broader market.

The S&P/ASX 200 Index (ASX: XJO) and the All Ordinaries Index (ASX: XAO) both slipped lower. They fell 0.42% and 0.47% respectively as the cash rate was increased for the first time in years.

Let’s take a closer look at today’s news from Core Lithium.

What went wrong for the Core Lithium share price?

The Core Lithium share price’s initial gains turned sour on Tuesday. The stock’s rollercoaster performance followed the release of good news about the Finniss Lithium Project.

The Northern Territory’s Minister of Environment, Eva Lawler, has given the thumbs up to an underground mine at the project.

Now, the company will work to submit a mine management plan to the Department of Industry, Tourism, and Trade.

Core Lithium expects the first ore from the project to be on board ships at the end of 2022.

However, Core Lithium wasn’t the only ASX lithium share to trade in the red today.

It was joined by the likes of Argosy Minerals Limited (ASX: AGY), Mineral Resources Ltd (ASX: MIN), and Liontown Resources Ltd (ASX: LTR).

The post Core Lithium share price gives up early gains to close 5% lower appeared first on The Motley Fool Australia.

More reading

• Core Lithium share price charges higher amid ‘exciting milestone’
• Core Lithium share price slips despite positive news
• Core Lithium share price charges higher amid quarterly update
• Why is it such a mixed day of trade for ASX lithium stocks?
• The Core Lithium share price is sinking 6% today. Why?

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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After gaining an impressive 25% in March, the Ethereum (CRYPTO: ETH) price went the other direction in April.

Ethereum started the month worth US$3,282. By 30 April, it was trading for US$2,827, down 14%.

What impacted the Ethereum price in April?

The world’s number two crypto was hit by the same headwinds that saw risk assets, like high growth tech shares, tumble in April.

Atop fears of slowing economic growth out of China, where authorities continue to lockdown millions of residents in efforts to eliminate COVID-19, crypto investors have been keeping a wary eye on the rate hike plans of global central banks.

Higher interest rates increase the cost of holding money. And with the US Federal Reserve and other leading central banks like the RBA poised for a series of rate increases, the tech-heavy Nasdaq shed 14% last month. The same losses, you’ll notice, posted by the Ethereum price.

And Ethereum was far from the only crypto that fell hard in April. Bitcoin (CRYPTO: BTC) lost 17% over the 30 days.

Some analysts are predicting a bounce for the Ethereum price as its blockchain moves from a proof-of-work protocol to a proof-of-stake protocol. A move that will greatly reduce costs and its staggering energy use and carbon emissions. But little fresh news about the so-called Merge hit the crypto markets in April.

Volatility continues

Demonstrating the continuing volatility among even the top cryptos, the Ethereum price reached lows of US$2,727 during April while peaking at US$3,574, according to data from CoinMarketCap. That’s a range of some 31%.

At the current price of US$2,842, Ethereum is down 42% from its 16 November all-time highs. It now has a market cap of US$343.6 billion.

The post Here’s how the Ethereum price stacked up in April appeared first on The Motley Fool Australia.

More reading

• Can cryptocurrency bounce back in May?
• Why Bitcoin, Ethereum, and Coinbase Jumped Today
• Why Shiba Inu, Ethereum, and Dogecoin are sinking today
• Crypto king Bitcoin to be dethroned by this hot rival: experts
• Bitcoin, Ethereum, and Cardano are turning it around today. Here’s why

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin and Ethereum. The Motley Fool Australia has positions in and has recommended Bitcoin and Ethereum. 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.

The stock market could very well crash in the coming months. This might sound like bad news if you have a lot of your hard-earned money invested and you’re afraid to see your portfolio balance fall. 

But a market crash isn’t something to fear. In fact, there are three big reasons you shouldn’t be concerned as long as you’ve got investments you believe in.

1. Market crashes are inevitable

Worrying about a stock market crash is like worrying about a rainstorm. It’s not worth it because a crash is as inevitable as a rainy day. Crashes have always been part of the natural economic cycle and if you are prepared, you can easily weather the storm.

But just because you don’t need to worry about rain doesn’t mean you shouldn’t have an umbrella. In this case, your umbrella is a portfolio strong enough to make it through unscathed. Doing this involves smart strategies including investing for the long term and building a portfolio made up of a diverse mix of assets. 

2. Recoveries always follow crashes

A market crash can send your investments plummeting, but just as there have always been crashes, recoveries have always inevitably followed like a rainbow after a storm.

The recovery may take months, or even years. But over time, the market has consistently gone up and never experienced a downturn that didn’t eventually reverse itself. 

If you have investments you believe in, just hold them through the crash and wait for the price of your shares to bounce back. Any losses will be temporary and only on paper, and you should end up earning positive returns over the long haul if you’ve invested wisely.  

3. Crashes present buying opportunities

Lasty, rather than worrying about a market crash, you should view it as an opportunity. Contrary to what your instincts may tell you, it’s a good idea to invest more when a crash has occurred. You can buy shares of good companies when they are on sale and benefit from the discount. 

You don’t necessarily want to try to time the market to buy at rock-bottom prices since you can’t always tell exactly when the crash will end and recovery will begin. So if you consistently buy stock as prices fall, it’s inevitable that you’ll buy some shares at an opportune time and see more profit because of it. 

What should you do instead of worrying?

If you want to make it through a crash unscathed, there are a few key things you need to do.

First and foremost, don’t invest in anything that you wouldn’t be prepared to hold through a downturn. If you’re trying to make a quick buck with a short-term investment and you don’t trust that the company can survive tough economic times, you could suffer permanent losses if you have bad timing and buy before a crash occurs.

Second, aim to have some cash available to invest when a crash happens so you have the opportunity to take advantage of discounts in companies you believe in. 

And third, never panic-sell because doing so just locks in losses. Avoid checking your portfolio obsessively when times are tough and have enough confidence in your investment thesis to sit back and wait for the turnaround to come and your investments to rebound. 

If you do these three things, a market crash shouldn’t be cause for any concern. 

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

The post 3 reasons not to worry about a stock market crash appeared first on The Motley Fool Australia.

More reading

• Here’s why the Metcash share price just hit a 15-year high
• Hawsons Iron share price subjects investors to wild ride on Tuesday
• Why is the Fortescue share price down 5% on Tuesday?
• Here’s how some of the biggest ASX 200 shares are responding to the RBA’s rate rise
• What’s driving the Graincorp share price to all-time highs?

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.

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

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This Tuesday has given ASX investors a bit of a wild ride. The S&P/ASX 200 Index (ASX: XJO) finished down 0.42% at just over 7,320 points after multiple stints in both positive and negative territory today. But it has been a far happier day for the Metcash Limited (ASX: MTS) share price.

Metcash shares closed 0.84% higher at $4.82 a share. But earlier in the trading day, Metcash rose as high as $4.90 a share. That was a new 52-week high for the company, as well as representing the highest level Metcash shares have been since 2007, before the onset of the global financial crisis.

The operator of the IGA chain of supermarkets, as well as hardware chain Mitre 10, has been on a tear for a while now. The Metcash share price is up 7% over 2022 thus far, healthily outperforming the ASX 200 Index. The company has also seen a gain of almost 36% over the past 12 months, and more than 120% over the past five years.

So what had investors flocking to Metcash shares today?

Why is the Metcash share price at a 15-year high?

Well, it’s possible that it could be a result of the announcement Metcash made this morning. The company told investors it has entered into a supply agreement with Australian United Retailers. This will see Metcash “supply its national network of supermarkets and convenience stores, including its FoodWorks bannered supermarkets, for a further five-year period, commencing 1 July 2022”. 

This gives Metcash and its investors some significant certainty, seeing as the company had been supplying Australian United Retailers’ 540-plus stores around Australia on a rolling 12-month contract basis since 2019.

But this latest piece of news isn’t the only tailwind Metcash shares have been enjoying of late. As we’ve covered numerous times, Metcash has been the recipient of some love from more than one ASX broker over the past few months. Last month, my Fool colleague Tristan covered the buy ratings of both Macquarie and Credit Suisse on Metcash shares.

So it could be a combination of these factors that have led Metcash shares to the levels we saw today. No doubt the company has some happy shareholders right now.

At the current Metcash share price, this ASX 200 consumer staples share has a market capitalisation of $4.6 billion, with a dividend yield of 4.15%.

The post Here’s why the Metcash share price just hit a 15-year high appeared first on The Motley Fool Australia.

More reading

• Here’s how some of the biggest ASX 200 shares are responding to the RBA’s rate rise
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Why Block, Domain, Metcash, and Zip shares are pushing higher
• Could Polynovo shares get kicked out of the ASX 200?
• RBA increases cash rate by 25bps and warns of more hikes

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

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The Hawsons Iron Ltd (ASX: HIO) share price has been on a rollercoaster ride today.

The company’s shares have closed down 18.64% to 72 cents. However, in earlier trade, the Hawsons Iron share price surged 21% above yesterday’s closing price of $1.07 before retreating.

For perspective, the S&P/ASX 200 Resources Index (ASX: XJR) closed 0.84% lower today. The shares of iron ore giant Fortescue Metals Group Ltd (ASX: FMG) shed 4.69%.

So what caused this ASX iron ore’s share price to fluctuate today?

Share price fluctuates

The Hawsons Iron share price went up and down like a yo-yo today despite no news from the company.

It’s exploring the Hawsons Iron Project, 60km southwest of Broken Hill in New South Wales.

In today’s news, the Reserve Bank of Australia (RBA) has lifted the cash rate by 25 basis points to 35 basis points. As my Foolish colleague James reported, this sent the S&P/ASX 200 Index (ASX: XJO) down within minutes. The RBA board is preparing to increase interest rates further in the future. Interest rate rises can increase costs for many ASX shares, including mining companies.

The iron ore price is flat today, however, it has fallen nearly 7.79% in a month, Trading Economics data shows.

The Hawsons Iron Project has recently been granted a three-year extension of its major project status from the federal government.

The company reported an $18.377 million cash balance in quarterly results, up to 31 March 2022.

Share price snapshot

The Hawsons Iron share price has surged about 1,675% in the past year while it has rocketed 168% in the past month.

For perspective, the benchmark ASX index has gained about 4% over the past year.

Hawsons Iron has a market capitalisation of about $536 million based on the current share price.

The post Hawsons Iron share price subjects investors to wild ride on Tuesday appeared first on The Motley Fool Australia.

More reading

• Guess which ASX iron ore share has surged more than 260% in a month. Hint: it’s not Fortescue

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 Fortescue Metals Group Limited (ASX: FMG) share price is coming under selling pressure today. This is despite the iron ore mining outfit not releasing any price-sensitive announcements to the ASX.

At the time of writing, Fortescue shares are fetching at $20.67, down 4.53%.

In comparison, the S&P/ASX 200 Index (ASX: XJO) is also treading lower to 7,308.3 points, down 0.53%.

Below, we take a look at what’s dragging the miner’s shares along with the benchmark index.

Iron ore prices plummet

After spending the last couple of months hovering around the US$150 barrier, iron ore prices have continued to fall.

According to Trading Economics, the steel making ingredient is trading at US$142 per metric tonne as of last night. This represents a decline of 5.26% compared to this time last week.

The sharp decrease will have an impact on Fortescue’s bottom line; however, profits are still expected to be churned out. The company reported industry leading C1 costs of US$15.28 per wet metric tonne for H1 FY22. C1 costs refer to the ‘direct’ production costs incurred in mining and processing the iron ore.

China’s heavy-handed lockdown

Weighing down the market price for iron ore, and effectively Fortescue’s shares, has been China’s COVID-19 situation.

The government has amplified its already harsh restrictions on Chinese residents to achieve its strict zero-COVID policy.

Repeat testing as well as barring access to public places without a negative result has been initiated in the capital of Beijing.

China is seeking to limit the spread and the chaos that ensued in its most populous city, Shanghai.

It’s worth noting that with the economic conditions rife, the construction sector has been hampered. This has led to the shrinking price of iron ore as demand wanes.

RBA increases rates

Another factor playing again Fortescue is the Reserve Bank of Australia (RBA) lifting its official cash rate by 0.25% today.

Notably, this is the first time the RBA has increased its rates since the Julia Gillard era in November 2010.

With the official cash rate now at 0.35%, which has pushed the ASX deeper in the red during afternoon trade.

The RBA is using its tools to curb inflation which has risen 5.1% on an annualised basis.

Fortescue share price snapshot

Regardless of Fortescue shares being lower today, its shares have gained 8% since the start of 2022.

Based on valuation metrics, Fortescue presides a market capitalisation of approximately $65.34 billion.

The post Why is the Fortescue share price down 5% on Tuesday? appeared first on The Motley Fool Australia.

More reading

• Here’s how some of the biggest ASX 200 shares are responding to RBA’s rate rise
• How did the Fortescue share price stack up in April?
• What’s the outlook for ASX 200 mining shares in May?
• Top brokers name 3 ASX shares to sell next week
• What’s the outlook for the Fortescue share price in May?

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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