Category: Stock Market

The Ioneer Ltd (ASX: INR) share price is accelerating to a new record high on Monday. This comes despite no news coming out of the emerging lithium-boron company since late August.

At one point, Ioneer shares touched an all-time high of 65.5 cents during the first hour of morning trade. They’re currently slightly lower at 64.5 cents apiece, up 7.5%.

What’s driving the Ioneer share price higher?

Investors are buoyant on Ioneer shares following the company’s last release to the ASX on 24 August.

Ioneer revealed that it awarded a major engineering design and equipment supply contract to Veolia Water Technologies (Veolia).

Veolia Water, a subsidiary of the Veolia group, is a leading specialist in water treatment. The company designs and delivers drinking water and wastewater treatment plants as well as water treatment equipment.

The contract is for the final detailed engineering design for the development of Ioneer’s Rhyolite Ridge Lithium-Boron Project. This also includes an equipment supply contract using evaporation, crystallisation and dewatering equipment.

Ioneer noted the award represents the single largest supplier package for the Rhyolite Ridge Project. It is also a major step forward in construction and development in the production of high-purity lithium hydroxide monohydrate.

Both Ioneer and Veolia have been working together since 2018 to demonstrate the feasibility of the process design. Veolia has conducted laboratory testing and simulated operations of key units consisting of clarification, ion exchange purification, evaporation and crystallisation.

Works are currently underway with planned commissioning of the plant expected sometime in the second half of FY24.

Are Ioneer shares a buy?

According to Canadian-based Canaccord Genuity, its analysts raised the price target for Ioneer shares by 8.3% to 65 cents. Based on the current share price, this implies an upside of almost 5% after factoring in today’s gains.

On valuation grounds, Ioneer presides a market capitalisation of roughly $1.2 billion, with approximately 1.9 billion shares on its registry.

The post Why the Ioneer (ASX:INR) share price is leaping to an all-time high today appeared first on The Motley Fool Australia.

More reading

• Here’s why the Ioneer (ASX:INR) share price hit an all-time high today

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 Bruce Jackson.

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The Neometals Ltd (ASX: NMT) share price is gaining today following some glowing media coverage.

Right now, the Neometals share price is 76 cents, 5.56% up on its previous close after reaching a high of 77 cents earlier today.

The gains come after the nickel and lithium miner’s CEO, Chris Reed, spruiked the business’ battery recycling arm.

Reed has reportedly said the company’s battery recycling business looks like it will fill a gap in Europe’s increasing battery production. If that’s the case, the company could be riding a wave to hold up the future of Europe’s electric vehicle market.

Let’s take a look at the latest news of Neometals.

Is Neometals creating Europe’s newest industry?

The Neometals share price is surging following reports the company’s work is filling holes in the lifecycle of lithium-ion batteries.

Reed told The Australian that the increasing number of carmakers manufacturing their own lithium-ion batteries will lead to a glut of batteries in need of recycling in the coming years.

He said recycling batteries can be troublesome for battery manufactures. However, it’s particularly important in Europe as the metals that go into batteries aren’t mined on the continent.

Further, Reed said spent batteries pose a considerable risk to ground water and the broader environment if they’re not recycled.

He also pointed out that 8 tonnes of carbon emissions are produced alongside each tonne of new lithium-ion batteries. In effect, it means electric vehicles aren’t as carbon neutral as they’re often spruiked to be.

Investors interested in the Neometals share price might want to keep an eye out for demand for battery recycling, as the Neometals boss believes the company will soon be a cornerstone of Europe’s electric vehicle market.

The company recently commissioned the first stage of its lithium-ion battery recycling demonstration plant.

Neometals is in a unique position as it mines battery metals in Australia as well as recycles disused lithium-ion batteries. However, Reed told the newspaper that by recycling batteries, his company is the lowest-cost nickel producer in the world.

The Australian quoted Reed as saying:

But you are at the dawn of a tsunami. We know because we can see the battery plants that have been built, we know the adoption rates of the cars. The only thing we are more confident about than the volumes being produced is that they bloody wear out quicker than you think.

Neometals share price snapshot

The Neometals share price is currently 174% higher than it was at the start of 2021. It has also gained 319% since this time last year.

The post Neometals (ASX:NMT) share price jumps 5% as boss spruiks battery recycling ‘tsunami’ appeared first on The Motley Fool Australia.

More reading

• Here’s why the Neometals (ASX:NMT) share price is sinking today
• Neometals (ASX:NMT) share price falls on battery update
• Neometals (ASX:NMT) share price slips on battery recycling update
• Neometals (ASX:NMT) share price rockets 7% after pilot trial update

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 Bruce Jackson.

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The S&P/ASX 300 Index (ASX: XKO) is off to a poor start on Monday, erasing all of last week’s gains.

During morning trade, the ASX 300 is down 0.66% to 7,478 points. Currently, the index is around 2.2% off its all-time high of 7,625 points reached on 13 August.

Let’s take a look at which ASX companies are the biggest movers today.

Alumina Limited (ASX: AWC)

The Alumina share price soared 9.27% to $2.18 in early morning trade, despite no market-sensitive news out of the company today.

The alumina producer released its half-year results to the market late last month, highlighting record bauxite and alumina production.

However, after the company’s shares reached a 52-week high of $2.18 today, investors have been quick to take profit. At the time of writing, Alumina shares are trading at $2.075, up 4%.

Liontown Resources Limited (ASX: LTR)

The Liontown Resources share price is storming higher with a 5.47% gain to $1.06.

The emerging lithium producer will be added to the ASX 300 index after surging in value due to investor interest. This will occur on 20 September.

Liontown Resources is focusing on developing its world-class Kathleen Valley Lithium Project.

Tyro Payments Ltd (ASX: TYR)

Another strong mover for the start of the week is the Tyro share price, up 4.13% to $3.90.

The payments company provided its weekly trading update to the ASX, revealing an increase in revenue for August. As such, earnings for last month have grown 20% to $2.048 billion compared to the prior corresponding period.

Management also noted that the strong tailwinds have continued into FY22, with September revenue up 13% on September 2020’s result.

Tyro Payments will be included in the ASX 200 index.

And which ASX 300 companies are heading the other way?

Hansen Technologies Limited (ASX: HSN)

Freefalling today is the Hansen share price, down 8.75% to $5.63.

The billing technology company advised that BGH Capital has withdrawn its offer to acquire 100% of the shares in Hansen.

Previously, BGH Capital tabled an offer to buy each Hansen share at $6.50 apiece.

The decision to withdraw from the proposal followed the conclusion of BGH’s extensive due diligence. However, no particular reason was given to the market.

Fortescue Metals Group Limited (ASX: FMG)

Also being weighed down by investors today is the Fortescue share price, down 9.26% to $18.92. The iron ore mining giant is trading ex-dividend today.

This means that investors who held Fortescue shares beforehand could sell their holding now and still be eligible for the upcoming dividend.

The board declared a fully-franked final dividend of $2.11 per share, which will land in shareholder accounts on 30 September.

The post Which ASX shares are leading the way on the ASX 300? appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: Fortescue & Pro Medicus sink, gold miners rise
• Why Tyro (ASX:TYR) and SeaLink (ASX:SLK) share prices could be moving up
• Hansen (ASX:HSN) share price sinks 13% after withdrawn acquisition proposal
• Why the Fortescue (ASX:FMG) share price is crashing 11% today
• ASX 200 Weekly Wrap: ASX puts earnings season to bed with another rise

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. owns shares of and has recommended Hansen Technologies and Tyro Payments. 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 Bruce Jackson.

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At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decline. The benchmark index is down 0.7% to 7,472.4 points.

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

Fortescue shares crash lower

The Fortescue Metals Group Limited (ASX: FMG) share price is trading sharply lower on Monday. However, this has nothing to do with iron ore prices and everything to do with its upcoming dividend. This morning the mining giant’s shares traded ex-dividend for its fully franked $2.11 per share final dividend. Eligible shareholders can look forward to receiving this dividend on 30 September.

Gold miners storm higher

One area of the market performing positively today has been the gold sector. Thanks to a solid rise in the gold price on Friday night, the likes of Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Limited (ASX: NCM) shares are pushing notably higher. The precious metal was given a boost by weak US economic data. This has eased tapering fears and boosted safe haven assets.

Pro Medicus shares tumble

The Pro Medicus Limited (ASX: PME) share price is tumbling lower today after being downgraded by a leading broker. According to a note out of Goldman Sachs, it has downgraded the health imaging company’s shares to a sell rating with a $54.00 price target. Goldman made the move on valuation grounds, believing it is hard to justify the premium the Pro Medicus share price is trading on.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Monday has been the Appen Ltd (ASX: APX) share price with a 4.5% gain. This is despite there being no news out of the artificial intelligence data services company. The worst performer has been the Fortescue share price with a 9.5% decline after going ex-dividend.

The post ASX 200 midday update: Fortescue & Pro Medicus sink, gold miners rise appeared first on The Motley Fool Australia.

More reading

• Which ASX shares are leading the way on the ASX 300?
• Nuix (ASX:NXL) faces yet another indignity
• Why Tyro (ASX:TYR) and SeaLink (ASX:SLK) share prices could be moving up
• Will ASX 200 shares be rocked by RBA taper talk tomorrow?
• Why the Fortescue (ASX:FMG) share price is crashing 11% 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. owns shares of and has recommended Appen Ltd and Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Appen Ltd and Pro Medicus Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Boss Energy Ltd (ASX: BOE) share price leapt 8% higher in the early minutes of trade before giving back all those gains to fall 2% lower than it closed on Friday.

In mid-morning trading, Boss Energy’s share price is 2.22% in the red at 22 cents a share.

Below, we take a look at the latest announcement from the ASX uranium producer.

What did Boss report?

Boss Energy’s share price has been on a rollercoaster after the company reported the front-end engineering and design (FEED) process at its Honeymoon Project in South Australia is running ahead of schedule.

According to the release, this has “cemented its position as Australia’s most advanced emerging uranium producer”.

Boss said that the primary goals of the FEED process include:

• Finalising key technical decisions
• Producing foundation technical documents
• Confirming product specifications
• Refining budget and scope for the project

The company now forecasts it can finish the FEED work early in 2022 at which stage it can commence design work and order long-lead items.

Commenting on the progress, Boss Energy’s managing director Duncan Craib said:

We continue to extend our advantage as the most advanced emerging uranium producer in Australia. We have a plant on care and maintenance, other significant production and storage infrastructure in place, we have formed an Owner’s Team to restart Honeymoon and we are moving through the FEED stage rapidly.

Boss also noted that uranium is trading at 6-year highs of US$39.00 per pound. In March, Boss bought 1.25Mlbs of uranium for US$30.15/lb at a total cost of US$37.68 million. It said that at current spot prices, this inventory is now worth US$48.75 million.

Boss Energy share price snapshot

The Boss Energy share price is up a whopping 121% year-to-date. That compares to a gain of 12% posted by the All Ordinaries Index (ASX: XAO).

Over the past month, Boss Energy’s share price is up 28%.

The post What’s happening with the Boss Energy (ASX:BOE) share price today? appeared first on The Motley Fool Australia.

More reading

• Guess which sector last week’s top performing ASX shares come from
• ASX uranium shares are booming this week. Here’s why.
• Up 29% this week, the Boss Energy (ASX:BOE) share price is soaring again
• Why the Boss Energy (ASX:BOE) share price is soaring 6% today

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 Bruce Jackson.

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Investors hoping for a takeover of Sydney Airport Holdings Pty Ltd (ASX: SYD) might be cursing the recent rally in its share price.

The consortium of infrastructure investors – dubbed the Sydney Aviation Alliance – that’s been futilely bidding for ownership of the airport reportedly might need to increase their bid price to $9 per share.

This follows Sydney Airport stock’s recent 18 cent gain.

The rally was seemingly triggered on 26 August when Qantas Airways Limited (ASX: QAN) announced its planned return to international travel. Over the 10 trading days following Qantas’ announcement, Sydney Airport’s stock moved to finish last week trading at $7.93.

However, the Sydney Airport share price is slipping today. It’s currently $7.81, 1.51% lower than its previous close.

Let’s take a closer look at today’s news of Sydney Airport.

Has the final hammer fallen for the alliances’ takeover?

The recent Sydney Airport share price rally might have been detrimental to Sydney Aviation Alliance’s hopes to control the airport. However, bids may be back on the table following today’s share price drop.

Reporting by The Australian stated the airport’s previous gains might have seen the alliance tap out.

The Sydney Aviation Alliance put forward a bid to buy 100% of Sydney Airport’s stock in July, offering $8.25 a share. After its offer was rejected, it upped its bid to $8.45 apiece. Again, the airport denied the bid.

It stated both bids undervalued the airport and were taking advantage of COVID-19‘s impact on travel.

According to The Australian, the alliance may have needed to up its bid to $9 per share to gain the airport’s acceptance.

It seems Sydney Airport’s gains might have been bad news for investors hoping the takeover will eventuate.

One such investor may have been UniSuper, which holds a 15% stake in the airport. UniSuper has agreed to vote in favour of the takeover if it can reinvest its holding into the alliance.  

Yet market watchers looking at the Sydney Airport share price rally with trepidation will likely be feeling hopeful this morning.

Sydney Airport share price snapshot

Today’s fall included, the Sydney Airport share price has gained 21% year to date. It is also 33% higher than it was this time last year.

The post Why some investors may be hoping the Sydney Airport (ASX:SYD) share price falls appeared first on The Motley Fool Australia.

More reading

• When was the worst ever day on the Sydney Airport (ASX:SYD) share price chart?
• What’s happening with the Sydney Airport (ASX:SYD) share price?
• ASX 200 Weekly Wrap: A mixed bag of earnings dominates ASX
• Why the Sydney Airport (ASX:SYD) share price has beaten the ASX 200 in the last year
• If you invested $1,000 in Sydney Airport (ASX:SYD) shares a decade ago, here’s what it would be worth now

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 Bruce Jackson.

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The Aussie Broadband Ltd (ASX: ABB) share price is a top performer on Monday. It comes after the company announced a strategic fibre swap deal to expand its geographic reach.

Shares in the telecommunications company were trading 9.3% higher in early trade to a new high of $4.70. At the time of writing, Aussie Broadband shares have retreated to $4.60, up 6.98%.

Aussie Broadband share price surges on fibre swap partnership

Aussie Broadband announced a 10-year deal with VicTrack (Victorian Rail Track Pty Ltd). The deal is to swap access to their respective fibre networks.

Under the swap agreement, VicTrack will provide Aussie Broadband access to its fibre network throughout Victoria.

In return, Aussie Broadband will provide access to its fibre network throughout Victoria. It will also construct access for VicTrack to a number of its NBN POIs (points of interconnect).

Aussie Broadband will pay for the cost of the initial VicTrack POI connections, estimated to be $1.4 million.

The company said that the agreement will “significantly increase the geographic reach of Aussie Broadband’s fibre network, especially into regional Victoria.”

Further, it will enable the rollout of its own business fibre services into regional areas. That includes Traralgon, Morwell, Warragul, Pakenham, Geelong, Ballarat, Bendigo, and Warrnambool. The service will provide speeds of up to 100G.

Another benefit of the swap agreement is that it will free up capital expenditure originally planned for Victoria. Instead, the company will allocate those funds to “expand the network in other states.”

Management commentary

Aussie Broadband managing director Phillip Britt welcomed the partnership:

Smart partnerships like this one with VicTrack enable us to not only expand our network beyond what was originally planned, but also frees up capital to improve our reach in other states.

This is a win for Aussie Broadband, a win for VicTrack and most importantly, a win for our customers and their access to high speed, quality internet connections.

A breakthrough year for the Aussie Broadband share price

The Aussie Broadband share price is up 130% year to date.

It is fast approaching the 500% mark from its listing price of just $1 back in October 2020.

The post Up 9%, the Aussie Broadband (ASX:ABB) share price hits all-time high appeared first on The Motley Fool Australia.

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• The Aussie Broadband (ASX:ABB) share price is up 40% in a month. What’s next?
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Motley Fool contributor Kerry Sun owns shares of Aussie Broadband Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Aussie Broadband Limited. The Motley Fool Australia has recommended Aussie Broadband Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) is up 11% over the past 6 months. Another very strong period as the companies continue to recover from the initial hits of the pandemic.

Of course, not all ASX 200 shares are created equal.

Some have gained far more than 11% while others have underperformed the index over the half year.

Below we look at 2 ASX 200 shares, one that’s outperformed and another that’s lagged the index.

They have a few things in common though.

First, they’re both multi-billion-dollar Aussie real estate owners and managers.

Second, they’ve both been upgraded to ‘buy’ ratings by investment advisory group Jarden, which sees strong potential gains ahead.

This ASX 200 share tipped for more outperformance

The first of the ASX 200 shares rated as a ‘buy’ by Jarden analysts Lou Pirenc and Andy MacFarlane is Charter Hall Group (ASX: CHC). Charter Hall is an integrated property group that manages both ASX-listed and unlisted property funds.

As the Australian Financial Review reports, Jarden believes Charter Hall “could deliver a 15.5 per cent total return to its investors” over the coming year. According to the analysts:

We continue to be supportive of the dedicated fund managers, as ongoing assets under management growth, strong demand from co-investors, fund performance and investment capacity should drive superior growth.

The Charter Hall share price is up 51% over the past 6 months. At the current share price of $18.11, it pays an annual dividend yield of 2.1%, 39% franked.

Australia’s largest listed retail landlord

Jarden analysts are broadly bullish on ASX real estate investment trusts (REITs) for the year ahead, pointing to increased investor confidence on a reopening rebound.

In a note, quoted by the AFR, they wrote:

We appreciate the structural pressures from online and cost inflation but believe the market is underestimating the growth and rerating potential from gross [rent] collection levels to return to pre-COVID levels.

Which brings us to the second of the ASX 200 shares tipped to outperform.

Namely, Scentre Group (ASX: SCG), the owner and operator of Westfield shopping centres across Australia and New Zealand.

Jarden has upgraded Scentre to a ‘buy’ rating. The analysts forecast a 24.9% total return over the coming 12 months. That includes a 5.1% dividend yield, unfranked.

The Scentre share price is flat over the past 6 months, currently trading at $2.87 per share.

But if Jarden has it right, both these ASX 200 shares could see their share prices significantly higher this time next year.

The post Two leading ASX 200 shares tipped to outperform: analyst appeared first on The Motley Fool Australia.

More reading

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• Here are the 3 most traded ASX 200 shares this Tuesday

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 Bruce Jackson.

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Nuix Ltd (ASX: NXL) and its shareholders have had a rough year.

The company that entered the ASX in December with much hype and fanfare has seen the stock price fall from a high of $11.86 to now $2.67.

Much of the descent has been self-inflicted, with a combination of financial downgrades and external governance investigations killing investor confidence.

Last week, the long-awaited yearly results failed to impress the market. The same afternoon saw $340 million worth of shares released from escrow, allowing now-departed executives and Macquarie Group Ltd (ASX: MQG) to sell off their holdings.

Unfortunately, the news doesn’t get better for anyone concerned with the analytics software business.

Bouncers throw Nuix out of the ASX 200

After market close on Friday, the news came that Nuix would be removed from the S&P/ASX 200 Index (ASX: XJO).

The indignity will come before the ASX opens on Monday 20 September.

The move is significant because passive funds that follow the ASX 200 will be forced to sell off Nuix shares, pushing up supply of the stock.

Boosted supply could lead to a price plunge. Already in early Monday morning trade, Nuix shares have lost 1.5% off their value and are trading at $2.63 at the time of writing.

The stock price will be further in focus until 20 September hits.

Nuix did not comment on its exclusion from the index.

Cooperating with authorities

Last week, the company revealed that the Australian Securities and Investments Commission (ASIC) has been in touch.

“Nuix can confirm that it has today received notices from ASIC seeking documents,” the board stated to the ASX.

“Nuix will, of course, cooperate fully with ASIC’s investigation.”

The corporate watchdog is reportedly investigating the integrity of financial information presented in its initial public offer prospectus.

ASIC will be reviewing the numbers Nuix presented for the 2018, 2019 and 2020 financial years.

The post Nuix (ASX:NXL) faces yet another indignity appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: Fortescue & Pro Medicus sink, gold miners rise
• Why Tyro (ASX:TYR) and SeaLink (ASX:SLK) share prices could be moving up
• Will ASX 200 shares be rocked by RBA taper talk tomorrow?
• ASX 200 Weekly Wrap: ASX puts earnings season to bed with another rise
• ASX quarterly rebalance: A2 Milk dumped from ASX 50, Nuix kicked out of ASX 200

Motley Fool contributor Tony Yoo owns shares of Macquarie Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Nuix Pty Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Weebit Nano Ltd (ASX: WBT) share price won’t be going anywhere on Monday.

The memory technology company’s shares have been halted since Wednesday 1 September.

Why is the Weebit Nano share price frozen?

The Weebit Nano share price was put in a trading halt last week when it was not in a position to make an announcement. This was regarding an incomplete negotiation relating to a material customer contract that has ceased to be confidential.

Management requested that the suspension remains in place until the earlier of commencement of normal trading on 9 September, or until the release of an ASX announcement.

What has ceased to be confidential?

Bizarrely, the confidentiality breach appears to have occurred following the release of the wrong press release by its media representative.

That release revealed that the company has (though apparently not quite yet) entered into a commercial partnership with US semiconductor foundry SkyWater Technology Inc. (NASDAQ: SKYT).

The agreement, if it finalises, aims to take the company’s ReRAM technology to mass production.

Furthermore, the release advises that under the partnership, SkyWater will have licences to Weebit’s ReRAM technology for use in customer designs.

The release explains that SkyWater is a US-based-and -owned semiconductor developer, manufacturer and a US Department of Defense-accredited supplier. It specialises in advanced product design, development and volume manufacturing of differentiated Integrated Circuits (ICs) for use within the aerospace, defense, automotive, consumer, industrial and IoT industries.

Weebit Nano‘s CEO, Coby Hanoch, said: “Weebit’s first commercial agreement is a major milestone for the Company. It enables us to mass produce our cutting-edge ReRAM technology and offer it to SkyWater’s extensive customer base, putting us on the path to ongoing revenue generation. SkyWater is the ideal first commercial partner for us – they have an impeccable reputation in microelectronics industry, and our ReRAM aligns with their focus on technologies for the future.”

All eyes will be on the Weebit Nano share price when it returns to trade, especially if it finalises this agreement successfully.

The post Why is the Weebit Nano (ASX:WBT) share price frozen? appeared first on The Motley Fool Australia.

More reading

• Why the Weebit Nano (ASX:WBT) share price has bounced 9% today
• Weebit Nano (ASX:WBT) share price falls as losses accelerate 180%

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 Bruce Jackson.

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