Category: Stock Market

The Western Areas Ltd (ASX: WSA) share price has been a strong performer on Friday.

In afternoon trade, the nickel producer’s shares are up 6% to $2.55.

Why is the Western Areas share price rising?

Investors have been bidding the Western Areas share price higher today following the release of its fourth quarter update.

That update reveals that Western Areas finished FY 2021 in fine form. This includes delivering its strongest quarterly production of the financial year.

According to the release, the company produced 4,622 nickel tonnes in concentrate during the quarter. This was up 8% on the previous quarter and brought its full year nickel tonnes in concentrate production to 16,180 tonnes. This was in line with guidance.

Another positive supporting the Western Areas share price today was its costs and pricing update.

The release explains that the company’s cash cost was $3.84 per pound during the quarter and its average realised price was $10.42 per pound.

The former was the lowest quarterly cost per pound achieved during the year, helping Western Areas record a full year cash cost of $4.23 per pound. This was in line with its guidance. The company’s average price realised was $10.06 per pound for the year.

Management commentary

Western Areas’ Managing Director, Dan Lougher, was pleased with the significant momentum across all key projects and workstreams during the quarter. This was particularly the case for its Forrestania operation.

He said: “Our Forrestania operations have had their best quarter on both production and costs for the year, and delivered within updated guidance after overcoming some operational difficulties earlier in the financial year.”

Mr Lougher appears positive on the future. This is due to increasing demand for nickel from electric vehicle markets (EV).

“At Odysseus, our new long life mine continues to advance towards production of first ore in this September quarter, which will mark a very significant milestone in its expected 10 plus year mine life. Odysseus remains one of the few long dated supplies of nickel sulphide to enter the market in the coming years, as the EV market continues to drive nickel demand for delivery into the EV battery supply chain,” he added.

The Western Areas share price is down 6.5% year to date despite today’s gain.

The post Why the Western Areas (ASX:WSA) share price is racing 6% higher today appeared first on The Motley Fool Australia.

More reading

• Why Bigtincan, EOS, Evolution, & Western Areas shares are charging higher
• Why Humm, Premier Investments, Western Areas, & Zip shares are sinking
• Why the Western Areas (ASX:WSA) share price is racing higher

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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It’s fairly safe to say that almost everyone knows that running a public company in Australia is one of the most lucrative jobs out there. But with 200 companies in the S&P/ASX 200 Index (ASX: XJO), obviously there are going to be some disparities between the wealth of the various ASX 200 CEOs.

The Australian Financial Review (AFR) has recently done some work in this area. In a report today, the AFR looked at the wealthiest ASX 200 CEOs, based on the wealth that their own companies have given them in their individual shareholdings. It makes for some interesting reading:

ASX CEO	ASX 200 Company	CEO Wealth from Company Shares
Richard White	WiseTech Global Ltd (ASX: WTC)	$4.23 billion
Kerry Stokes	Seven Group Holdings Ltd (ASX: SVW)	$4.22 billion
Rupert Murdoch	News Corporation (ASX: NWS)	$2.53 billion
Nicholas Molnar	Afterpay Ltd (ASX: APT)	$2.19 billion
Anthony Eisen	Afterpay	$2.15 billion
Gerry Harvey	Harvey Norman Holdings Limited (ASX: HVN)	$2.3 billion
Michael Heine	Netwealth Group Ltd (ASX: NWL)	$2.03 billion
Sam Hupert	Pro Medicus Ltd (ASX: PME)	$1.65 billion
Anthony Hall	Pro Medicus	$1.65 billion
Hamish Douglass	Magellan Financial Group Ltd (ASX: MFG)	$1.2 billion

Which ASX 200 CEO is the richest of them all?

So WiseTech CEO Richard White is the winner here, with $4.23 billion worth of WiseTech shares. We’ve already checked out Mr White’s WiseTech wealth today, so make sure to read more about it here.

Going down the list, and we see Seven’s Kerry Stokes. As the AFR noted, Stokes’ seems to be profiting from Seven’s recent saga with ASX 200 construction company Boral Limited (ASX: BLD), which the Seven Group is in the process of potentially acquiring. Boral shares are up close to 50% in 2021 so far, while Seven has seen its share price rocket almost 14% since early July.

Rupert Murdoch, chair of News Corporation, has been a big beneficiary of the pandemic. Newscorp was quick to close a number of regional newspapers last year with the onset of the pandemic. But its holdings in ‘COVID winners’ like REA Group Ltd (ASX: REA) have seen the news mogul bolster his ASX 200 assets in 2021 so far.

Afterpay founders Nick Molnar and Anthony Eisen have reaped huge rewards as they watched their company go from close to $8 a share in the nadir of last year’s share market crash to a high of over $160 a share by February 2021.

Although Afterpay has cooled since then the company is still trading at well over $100 a share, cementing these billionaires’ stakes in Afterpay at more than $2 billion apiece. Not bad for a company that went from ASX 200 to ASX 20 quicker than winking.

Gerry Harvey and Michael Heine head another pair of pandemic winners in famous retailer Harvey Norman and wealth management platform Netwealth. Harvey Norman is up almost 55% over the past year, while Netwealth has managed a 36% boost. As such, these founders’ shares equate to a fortune in their own right.

Pro Medicus up, Magellan flat

ASX 200 medical company Pro Medicus has also made a motza for its CEO Sam Hupert and executive director Anthony Hall. Pro Medicus is up almost 65% year to date, and 137.5% over the past 12 months. No doubt a very pleasing event for Messrs Hall and Hupert to watch unfold.

And finally, we have Magellan co-founder Hamish Douglass. Unlike most of the other people on this list, Mr Douglass has seen the fortunes of his company get stuck in the mud somewhat. At the current share price (at the time of writing) of around $54 a share, Magellan has yet to reclaim the high ground of ~$74 a share that we saw back in early 2020.

Subdued performances of many of Magellan’s funds have seen performance fees dry up, which has impacted the value of Mr Douglass’s large swathe of Magellan shares. Still, $1.2 billion is nothing to complain about, one would think.

The post These ASX 200 CEOs have the most wealth tied up in their companies appeared first on The Motley Fool Australia.

More reading

• The Afterpay (ASX:APT) share price is gaining 3% today
• WiseTech (ASX:WTC) CEO tops rich bosses list 5 years on from listing
• Why the Boral (ASX:BLD) share price has gained 45% in 6 months
• 3 excellent ASX growth shares analysts love
• COVID Delta is raging: 4 ASX shares to buy in turbulent times

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. owns shares of and has recommended AFTERPAY T FPO, Netwealth, Pro Medicus Ltd., and WiseTech Global. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO, Netwealth, Pro Medicus Ltd., and WiseTech Global. 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 Mincor Resources NL (ASX: MCR) share price is rocketing up 14% in afternoon trade.

Below we take a look at the market update which appears to be driving investor interest in the ASX resource share today.

What update did Mincor report?

Mincor’s share price is surging after the company reported more positive nickel exploration results in the 1.1-kilometre zone between its Long and Durkin North mines, located in Western Australia.

According to the release, assay results for the massive sulphide intercept returned “an outstanding intercept” of 0.5 metres at 6.3% nickel, including 0.3m @ 8.5% Ni.

Last Thursday, 15 July, Mincor’s share price got another big daily lift after the company reported strong results in the same area. An area it refers to as Golden Mile. The Mincor share price has now gained 25% since that first announcement.

Atop today’s positive assay results, the company also reported on a separate intersection, with an estimated width of 0.3 metres, 24 metres down-dip from the assays revealed today. Mincor noted this was based on visual inspection alone, and it is awaiting assays to confirm nickel grades.

Commenting on the results Mincor’s managing director, David Southam said:

Having assays confirm the high-grade nature of our first nickel intersection gives us great confidence in the enormous potential of the untested space we have called the “Golden Mile”. This intersection is located just 100 metres from existing underground mining infrastructure, highlighting its strategic importance to the company as our underground drilling program advances…

We are very encouraged by the fertility of the Golden Mile for massive sulphide discoveries and, once we have our down-hole EM infrastructure installed in August, our geological understanding and targeting approach can be further refined as this substantial drilling program unfolds.

Southam also congratulated BHP Nickel West [BHP Group Ltd (ASX: BHP)] on its newly revealed nickel supply arrangement with Tesla Inc (NASDAQ: TSLA). Southam noted that, “Our nickel concentrate off-take agreement with BHP means that Mincor will be a key participant in this ESG-friendly global EV battery supply chain.”

Mincor share price snapshot

Over the past 12 months the Mincor share price has gained 71%, handily outperforming the 23% gains posted by the All Ordinaries Index (ASX: XAO) over that same time.

Year-to-date, Mincor’s share price is up 9.4%.

The post Here’s why the Mincor (ASX:MCR) share price is shooting 14% higher today appeared first on The Motley Fool Australia.

More reading

• These ASX 200 CEOs have the most wealth tied up in their companies
• Rio Tinto (ASX:RIO) share price slides despite $100 million copper investment
• Here’s why the DDH1 (ASX:DDH) share price is rocketing 9% today
• BlueBet (ASX:BBT) share price surges 13% to record highs
• ASX 200 travel shares slide as New Zealand closes travel bubble

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Tesla. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Rio Tinto Limited (ASX: RIO) share price is under pressure on Friday despite the release of a positive announcement.

In afternoon trade, the mining giant’s shares are down 1% to $126.25.

What did Rio Tinto announce?

The Rio Tinto share price is falling despite announcing the approval of a $108 million investment in underground development to enable early orebody access and undertake orebody characterisation studies for underground mining at the Kennecott copper operations in the United States.

According to the release, the investment builds on $25 million approved in early-2020 to complete a pre-feasibility study to determine the viability of underground mining operations at Kennecott. Management notes that potential underground mining would occur concurrently with open pit operations and result in increased copper output.

The company feels this investment is more than worthwhile. It notes that Kennecott holds the potential for a significant and attractive underground development, with declared Mineral Resources of 20 Mt at 3.65% copper and 1.62 g/t gold1 with further upside potential based on drilling.

Underground battery electric vehicles

The release explains that the company intends to trial underground battery electric vehicles at the project. It notes that these have the potential to reduce carbon emissions at Kennecott and across Rio Tinto’s global operations.

Sandvik Mining and Rock Solutions will supply a battery electric haul truck and loader to evaluate performance and suitability for future underground mining fleets.

Rio Tinto Copper’s Chief Executive, Bold Baatar, said: “Kennecott holds a range of options to extend our supply of copper and other critical materials, to meet the strong demand being driven by electric vehicles and renewable power technologies. The operation is uniquely positioned to supply these emerging markets, with one of only two operating smelters in the United States that also processes concentrates from third parties, a long history delivering high quality products and significant resources that are yet to be developed.”

Why is the Rio Tinto share price trading lower?

The weakness in the Rio Tinto share price today appears to be due to a pullback in iron ore prices.

According to CommSec, the spot iron ore price fell US$12.10 or 5.7% over night to US$201.50 per tonne. This was driven by reports that some Chinese provinces were told by the government to cut steel production.

The Rio Tinto share price is up 9.5% in 2021.

The post Rio Tinto (ASX:RIO) share price slides despite $100 million copper investment appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Friday
• Rio Tinto (ASX:RIO) share price on watch following South Africa update
• The 2 best shares to hang your hat on: fund managers
• Leading brokers name 3 ASX shares to sell today
• ASX 200 Weekly Wrap: ASX shakes off lockdowns to rise higher

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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The DDH1 Limited (ASX: DDH) share price is shooting higher on Friday after the company provided a business update.

At the time of writing, the drilling company’s shares are up 9.55% to $1.20. In comparison, the All Ordinaries Index (ASX: XAO) is ascending 0.9% to 7,665 points.

How did DDH1 perform?

Investors are buying up DDH1 shares after the company reported robust growth for the year ending 30 June 2021.

According to the release, DDH1 reported preliminary unaudited pro-forma earnings before interest, tax, depreciation and amortisation (EBITDA) of $74.8 million.

This represents an increase of 7.9% on the original forecast of $69.3 million in its February 2021 prospectus.

In addition, the company expects preliminary unaudited pro-forma earnings before interest and tax (EBIT) to be $51.1 million, a lift of 16.1%. Its initial public offering (IPO) prospectus predicted the metric to come in at $44 million.

DDH1 attributed the improved performance to revenue exceeding previous estimates. Further training incentives received $2.3 million, with $1.6 million lower depreciation than assumed.

The company is scheduled to release its full-year FY21 audited financial results late next month.

DDH1 managing director and CEO Sy Van Dyk commented:

Since listing on the ASX in March, DDH1 has continued to benefit from the strong macro-economic conditions that suit our diversified commodities exposure, client base and geographic footprint.

… Our Australia-wide, diverse client base and prospective client base remain actively engaged across all stages of mineral exploration and resource-definition drilling and we are delivering the range of quality drilling services that they are demanding.

The preliminary unaudited results for FY21 are very pleasing and are the result of the company’s operational excellence, strong balance sheet and disciplined investment in growth.

About the DDH1 share price

From its debut on the ASX in March, DDH1 shares have gained close to 40%. The DDH1 share price is nearing its all-time high of $1.265. It is currently just 5% shy of this record.

DDH1 presides a market capitalisation of roughly $408.7 million, with 342 million shares on its books.

The post Here’s why the DDH1 (ASX:DDH) share price is rocketing 9% today appeared first on The Motley Fool Australia.

More reading

• BlueBet (ASX:BBT) share price surges 13% to record highs
• ASX 200 travel shares slide as New Zealand closes travel bubble
• Why Bigtincan, EOS, Evolution, & Western Areas shares are charging higher
• Dubber Corp (ASX:DUB) share price hits 52 week high today
• Zip (ASX:Z1P) share price gaining on Friday

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 BlueBet Holdings Ltd (ASX: BBT) share price has surged more than 13.5% higher in today’s trading session.

The bullish price action has propelled shares in the betting company to record highs.

At the time of writing, the BlueBet share price is trading more than 9% higher at around $2.09. Shares in BlueBet were up more than 13.5% earlier after hitting an intra-day and all-time high of $2.17.

Let’s take a look at what’s been fuelling the BlueBet share price.  

What’s been fuelling the BlueBet share price?

BlueBet is relatively new to investors, after only listing on the exchange at the start of this month.

BlueBet hasn’t released any price-sensitive news that could explain today’s euphoric price action. As a result, it could be assumed that shares in the betting company are riding the waves of a generally stronger market.

Shares in the wagering start-up debuted at $2 per share, with investors still contemplating the company’s value.

Earlier this month, the BlueBet share price received a boost after updating the market on its US operations.

The update highlighted BlueBet’s agreement with the Dubuque Racing Association. As a result, the company will be allowed to conduct its online sportsbook operations in the state of Iowa. However, the agreement is subject to regulatory approval.

In addition, shares in BlueBet have also been on the receiving end of favourable analysis from brokers.

Recently, analysts from noted broker Ord Minnet put a buy rating on the company’s shares. Analysts cited that BlueBet is positioned for growth given the gradual shift of sports betting online and the company’s expansion into the US.

More information on BlueBet

BlueBet is an online bookmaker that provides products to customers of both Australian and international sports.

BlueBet offers wagering products on 31 sports in Australia and internationally, in addition to entertainment and politics wagering markets.

The company’s platform is powered by customised, cloud-based technology.

As mentioned previously, BlueBet’s expansion into the US marks an important milestone for the newly-listed company.

According to BlueBet’s management, the Iowa wagering market has huge potential for the company. Following the approval of sports betting in 2019, the Iowa market has grown in excess of US$1 billion.

The post BlueBet (ASX:BBT) share price surges 13% to record highs appeared first on The Motley Fool Australia.

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• Is BlueBet or Pointsbet the better bet right now?
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Motley Fool contributor Nikhil Gangaram 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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If shareholders of S&P/ASX 200 Index (ASX: XJO) travel shares needed anything more to fret over, they just received it — courtesy of New Zealand’s Prime Minister, Jacinda Ardern.

Fresh COVID-19 cases are being reported in multiple states today. New South Wales alone has 136 new infections.

As a result, Ardern is closing her nation’s vaunted travel bubble with Australia.

The travel corridor, which only opened 3 months ago on 19 April, enabled Aussies and Kiwis to fly back and forth like it was 2019 again. Well, almost. No quarantine is required, though any sign of the sniffles and you’re grounded.

But no more. For the next 2 months, at least, the trans-Tasman travel bubble has been deflated.

Citing threats from the more transmissible delta variant, msn.com quotes Ardern saying:

We’ve always said that our response would evolve as the virus evolved. This is not a decision we have taken lightly, but it is the right decision to keep New Zealanders safe.

Free travel between Australia and New Zealand ends at midnight tonight.

However, some flights will continue to operate for returning New Zealanders.

My strong message to every New Zealander in Australia right now who does not want to stay there long-term is come home,” Ardern said.

Domestic travel squeezed too

Progress with domestic travel is being interrupted by lockdowns, which is no good for ASX 200 travel shares.

At the moment, some 14 million Aussies – more than half the population – are living under lockdown.

That’s 14 million potential travellers, including this financial reporter, discouraged from travelling. Except in emergencies, we can’t travel more than a few kilometres from home right now, let alone interstate.

So, it’s little wonder that ASX 200 travel shares are under pressure today.

The ASX 200 itself is edging lower in early afternoon trade and is down 0.06%.

The Flight Centre Travel Group Ltd (ASX: FLT) share price is down 1.53% at time of writing.

The Qantas Airways Limited (ASX: QAN) share price is down 1.8%.

Qantas shares are likely facing further headwinds with news that the airline is flying at less than 40% of pre-COVID capacity. Qantas had earlier said it was back to 90% of domestic capacity, before lockdowns began to bite.

Meanwhile, the Sydney Airport Holdings Pty Ltd (ASX: SYD) share price is up slightly by 0.06%.

Sydney Airport shares are likely holding up better in light of the recent all cash buy-out offer from a consortium of infrastructure investors. These include IFM Investors, Global Infrastructure Management and QSuper.

The group of institutional investors valued the airport at $22.6 billion. Or $8.25 per share.

While that offer has been rejected by the board, investors appear to be keeping that value in mind. Shares are currently trading 5.6% below the takeover offer at $7.79.

How have ASX 200 travel shares fared since COVID?

ASX 200 travel shares have certainly had their fair share of woes over the past 18 months.

Every company in the large-cap travel space got absolutely hammered during the initial COVID-19 fuelled market meltdown in February and March last year.

The Sydney Airport share price plunged 42% from 21 February 2020 through to 20 March 2020.

The Flight Centre share price plummeted 75% in that same time. The Qantas share price crashed 64%.

Since the lows of 20 March, there’s been a huge rebound for all of these ASX 200 travel shares.

Sydney Airport is up 65% since then, and now only 5% below its pre-pandemic price. Year-to-date, thanks to the takeover offer mentioned above, the Sydney Airport share price is up 21%.

As for the Flight Centre share price, it has gained 68% since that March 2020 low. While that sounds impressive – and it is if you bought near the low – Flight Centre remains down 58% compared to 21 February 2020 before COVID struck.

Year-to-date, the Flight Centre share price has struggled and is down 7%.

Rounding off with Qantas, the airline’s shares have rebounded 94% since the March 2020 low. Today, the shares are still trading 30% below its 21 February 2020 level.

Year-to-date, the Qantas share price has fallen 7%.

Foolish takeaway

What’s next for ASX 200 travel shares?

Australians love to travel both interstate and internationally. And foreign travellers love to visit Australia.

Once we have a higher rate of vaccinations in Australia and travellers can once again move around freely — at least between states, ASX 200 travel shares should see a rebound.

The big question facing investors today is, just when can we expect that to happen?

The post ASX 200 travel shares slide as New Zealand closes travel bubble appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week in a subdued manner. At the time of writing, the benchmark index is down slightly to 7,384.2 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are charging higher:

Bigtincan Holdings Ltd (ASX: BTH)

The Bigtincan share price has jumped 7% to $1.13. Investors have been buying the sales enablement platform provider’s shares following the release of its quarterly update. Bigtincan reported cash receipts for the fourth quarter of $14.7 million. This was a 40% increase on the prior corresponding period. Overall cash receipts for FY 2021 increased 29% year on year to $41.9 million.

Electro Optic Systems Hldg Ltd (ASX: EOS)

The Electro Optic Systems share price has surged 9% higher to $4.53. The catalyst for this was the release of the communications, defence, and space company’s quarterly update. Investors were pleased to see the company record total cash receipts of $65.5 million for the three months. A total of $30 million came from an overseas contract with Diehl Defence. Positively, EOS expects “a further $100 million from this business in H2 2021.”

Evolution Mining Ltd (ASX: EVN)

The Evolution share price is up 5% to $4.28. Investors have been buying the gold miner’s shares following the completion of its $400 million institutional placement. Evolution is raising funds for the acquisition of the Northern Star Resources Ltd (ASX: NST) assets in the Eastern Goldfields of Western Australia. Credit Suisse responded positively to the news, upgrading its shares to an outperform rating with a $4.70 price target.

Western Areas Ltd (ASX: WSA)

The Western Areas share price is up 4% to $2.50. This follows the release of the nickel producer’s fourth quarter update. According to the release, the company produced 4,622 nickel tonnes in concentrate during the quarter. This was up 8% on the previous quarter and the best quarterly performance of the year. This brought its total nickel tonnes in concentrate to 16,180 tonnes, which was in line with guidance. Also in line was its cash cost of $4.23 per pound.

The post Why Bigtincan, EOS, Evolution, & Western Areas shares are charging higher appeared first on The Motley Fool Australia.

More reading

• Electro Optic Systems (ASX:EOS) share price up 9% on quarterly report
• ASX 200 midday update: Crown-Star merger talks end, Evolution jumps
• Bigtincan (ASX:BTH) share price jumps 9% on quarterly results
• Why the Evolution (ASX:EVN) share price is charging higher today
• Are these ASX 200 gold miner shares buys?

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 BIGTINCAN FPO and Electro Optic Systems Holdings Limited. The Motley Fool Australia owns shares of and has recommended BIGTINCAN FPO and Electro Optic Systems Holdings 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 Dubber Corp Ltd (ASX: DUB) share price is on the radar today after hitting a new 52-week high in early trading.

Dubber shares are now exchanging hands at $3.23 apiece, after retracing from the intraday high of $3.39.

Today’s gains mark a 0.6% step into the green from market open. Whilst there has been no market sensitive news today, let’s take a look at what Dubber has been up to lately.

Quick recap on Dubber Corporation

Dubber’s main line of business is in the provision of call recording.

It does this by operating as a cloud platform, via the Dubber Connect service, that records and captures calls alongside other forms of communication.

Dubber has a market capitalisation of $823 million at the time of writing.

What has Dubber been up to lately?

On 3 June, the company released that its call recording service is now a “standard feature on Cisco Webex calling and UCM cloud”.

The upgrade comes at no extra cost to users and enables Webex Calling and UCM users to record “any and all conversations as an included feature” on the platform.

In effect, it permits users to extend storage, record videos, transcribe audio, and perform “sentiment analysis or AI-enriched insights”.

Dubber says users with “compliance or regulatory requirements” will be the main benefactors of the upgrade, which it claims is a huge plus due to a “significant shift to remote workforce arrangements”.

Speaking on the announcement, Dubber chief executive Steve McGovern said:

Dubber Foundation benefits Cisco and Dubber customers with a required capability as a standard feature while providing for the broader journey whereby the content of calls can be transformed into rich, usable data for compliance, productivity, insights and customer engagement.

McGovern also added the partnership “provides Dubber with a significant additional revenue stream…to accelerate growth in our core products” whilst protecting its current revenue models.

Dubber shares jumped 12% in the six days following the announcement, and have climbed a total of 14% since that time.

Therefore, it stands to reason that investors continue buying Dubber shares on the back of this fundamental momentum in the company’s growth engine.

Dubber Corp share price snapshot

The Dubber share price has spent this year to date in the green, posting a return of 94% since January 1.

This extends the previous 12 month’s return of 130%, outpacing the S&P / ASX 200 Index (ASX: XJO)’s return of ~21% over the same time frame.

Dubber shares have also gained ~12% in the last 5 trading sessions to now.

The post Dubber Corp (ASX:DUB) share price hits 52 week high today appeared first on The Motley Fool Australia.

More reading

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The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Dubber Corporation. The Motley Fool Australia owns shares of and has recommended Dubber Corporation. 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 Zip Co Ltd (ASX: Z1P) share price looking to finish the week on a positive note after a sharp selloff on Thursday.

At the time of writing, the Zip share price is up 2.86% to $7.19.

Tech sector and large cap BNPL shares making headway on Friday

The S&P/ASX Information Technology (INDEXASX: XIJ) index is pushing higher on Friday, up 1.63%.

In addition, leading ASX-listed BNPL shares are also making gains alongside the Zip share price.

Headlining the gains is the Afterpay Ltd (ASX: APT) share price, rallying 3.07% to $109.09.

The Sezzle Inc (ASX: SZL) share price is also eking out some gains, up 0.62% to $8.12.

Despite the larger end of the BNPL town making headway on Friday, the same can’t be said about the smaller BNPL players.

Splitit Ltd (ASX: SPT), Openpay Group Ltd (ASX: OPY), Laybuy Holdings Ltd (ASX: LBY) and Humm Group Ltd (ASX: HUM) have all failed to bounce on Friday, falling 0.94%, 2.99%, 1.08% and 1.01% respectively.

What happened to the Zip share price yesterday?

The Zip share price took a 7.9% tumble on Thursday after the release of its quarterly update.

The company delivered classic triple digit growth across key performance metrics, including a 116% year-on-year increase in quarterly total transaction volume to $1.8 billion and a 104% increase in quarterly revenue to $129.9 million.

Despite a well-rounded announcement with strong growth figures and continued geographic expansion, it might have missed lofty broker expectations.

The selling pressure on Thursday witnessed just over 30 million Zip shares change hands, compared to its 10-day average of about 13.6 million shares.

The post Zip (ASX:Z1P) share price gaining on Friday appeared first on The Motley Fool Australia.

More reading

• Here’s what brokers think about the Zip (ASX:Z1P) share price
• The Afterpay (ASX:APT) share price is gaining 3% today
• Zip share price falls, Pilbara Minerals flies. And the BHP share price gets a Tesla bounce. Scott Phillips on Nine’s Late News
• Why Kogan, Service Stream, Whispir, & Zip shares are sinking
• Here are 3 ASX 200 shares flying around the markets today

Motley Fool contributor Kerry Sun 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 AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia has recommended Humm 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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