After fighting back from a poor start, the S&P/ASX 200 Index (ASX: XJO) has slipped back into the red in afternoon trade. The benchmark index is currently down slightly to 7,326.4 points.

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

Brainchip Holdings Ltd (ASX: BRN)

The Brainchip share price is down 7.5% to 55 cents. Investors appear to have been taking profit following a strong gain on Monday in response to the launch of the new Akida platform. The old platform doesn’t appear to have been cutting it for customers, so the company has designed the new one in line with requests. In light of this, if its sales don’t jump in the coming quarters, it could be a very bad sign.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price is down 1.5% to $7.35. Investors have been selling this rare earths producer’s shares in recent sessions amid concerns over comments out of Tesla. The electric vehicle giant has announced plans to shift away from using rare earths in its cars in the near future. The Lynas share price is now down 11% since this time last week.

Megaport Ltd (ASX: MP1)

The Megaport share price is down 14% to $4.95. This has been driven by the surprise resignation of the network services provider’s CEO this morning. Rather ominously, Vincent English will be leaving with immediate effect and without an explanation. A global search is now commencing.

Universal Store Holdings Ltd (ASX: UNI)

The Universal Store share price is down almost 4% to $5.29. This decline is attributable to the retailer’s shares going ex-dividend on Tuesday for its interim dividend. Eligible shareholders can now look forward to receiving Universal Store’s 14 cents per share fully franked dividend later this month on 29 March.

The post Why Brainchip, Lynas, Megaport, and Universal Store shares are dropping today appeared first on The Motley Fool Australia.

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More reading

• Morgans names 3 of the best ASX shares to buy in March
• Megaport share price tumbles 10% on CEO resignation
• Why are ASX 200 tech stocks like Xero having such a stellar start to the week?
• Why Block, BrainChip, Core Lithium, and Life360 shares are racing higher
• Why Fortescue, Lynas, Myer, and New Hope shares are dropping today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Megaport. The Motley Fool Australia has recommended Megaport. 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 S&P/ASX 200 Index (ASX: XJO) has fought back from a poor start and is edging higher. In afternoon trade, the benchmark index is up 0.1% to 7,334.6 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:

InvoCare Limited (ASX: IVC)

The InvoCare share price is up 35% to $12.11. Investors have been scrambling to buy this funerals company’s shares after it received a takeover approach. InvoCare has received an unsolicited, preliminary, non-binding indicative offer from TPG to acquire 100% of its issued shares for $12.65 cash per share. This will be adjusted for any additional dividends or capital returns made prior to completion of the proposed transaction.

Pentanet Ltd (ASX: 5GG)

The Pentanet share price is up 48% to 24.5 cents. This morning, this cloud gaming provider announced a deal with telco giant Optus Mobile. The initial 12-month agreement will see Pentanet deliver the NVIDIA GeForce NOW cloud gaming service to Optus customers. Management believes this agreement marks a significant milestone towards its goal of commercialising GeForce NOW with the introduction of Pentanet’s first large-scale wholesale partner.

Sayona Mining Ltd (ASX: SYA)

The Sayona Mining share price is up 4% to 24.5 cents. This follows news that the lithium developer has entered into a subscription agreement with PearTree Securities. The agreement sees the issue of 174,459,177 flow-through shares at a price of 31.5 cents per share for aggregate gross proceeds of $54.9 million. This represents a 34% premium to the Sayona Mining share price at Friday’s close.

Weebit Nano Ltd (ASX: WBT)

The Weebit Nano share price is up 5% to $7.43. This morning, this memory technologies company announced the availability of its resistive RAM (ReRAM) IP in SkyWater Technology’s 130nm CMOS process. This essentially means that SkyWater customers can now easily integrate Weebit’s non-volatile memory in their system-on-chip designs.

The post Why InvoCare, Pentanet, Sayona Mining, and Weebit Nano shares are storming higher appeared first on The Motley Fool Australia.

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More reading

• Weebit Nano share price just surged 7% on product commercialisation news
• Guess which ASX share is skyrocketing 70% after securing a deal with Optus
• ASX 200 stock InvoCare rallies 37% on takeover approach
• Sayona Mining share price charges higher following $55m cap raise
• Here are the 10 most shorted ASX shares this week

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 recommended Pentanet. 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 Santos Ltd (ASX: STO) share price is up 2.0% in early afternoon trade, while the S&P/ASX 200 Index (ASX: XJO) remains in the red. 

Shares in the ASX 200 oil and gas company closed yesterday at $7.14. Shares are currently trading for $7.29 apiece.

Here’s what investors are considering today.

What’s piquing ASX 200 investor interest?

The Santos share price looks to be getting a boost on two fronts.

First, the ASX 200 energy stock reported front-end engineering and design (FEED) work has commenced at its Papua LNG joint venture project, located in Papua New Guinea.

Santos holds a 22.8% interest in Papua LNG along with TotalEnergies (40.1% and operator) and ExxonMobil (37.1%).

The JV partners opted for the model using four electric LNG trains. The four trains have a combined capacity of four million tonnes per year and will be developed within the existing PNG LNG project site.

Santos reported that Papua LNG has also secured access to up to two million tonnes of existing liquefaction capacity from PNG LNG.

Commenting on the progress that could be helping boost the Santos share price today, CEO Kevin Gallagher said:

The concept selected for Papua LNG maximises value through midstream integration with PNG LNG to deliver increased capital efficiency and lower operating costs, consistent with our disciplined operating model.

FEED entry for Papua LNG is a significant step for the project.

Papua LNG is forecast to have a liquefaction capacity of up to six million tonnes of LNG per year. Santos expects first production by or shortly before early 2028.

Other tailwinds for the Santos share price

Also potentially helping lift the Santos share price today is some strong support for gas-powered energy announced by prime minister Anthony Albanese.

Speaking at the Australian Financial Review Business Summit, Albanese stressed the importance of gas in the ongoing global transition to cleaner energy.

“This is where gas in particular has a key role to play, as a flexible source of energy – providing peaking power today and continuing to provide firming and back-up power,” he said. “Helping to smooth the transition to renewables, while guaranteeing energy security both for Australia and for our partners in the region.”

Albanese added that it’s important that energy companies and their investors “can look to government for the confidence and certainty of a stable foundation and a long-term vision”.

Santos share price snapshot

As you can see in the chart below, the Santos share price is back in the green for 2023, up 2.1% since the closing bell on 30 December.

The post Why is the Santos share price marching higher on Tuesday? appeared first on The Motley Fool Australia.

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More reading

• 2 ASX 200 mining shares to buy in March: analysts
• 5 things to watch on the ASX 200 on Monday
• ‘Result was incredible’: 3 ASX 200 shares Jun Bei Liu would buy now
• 5 things to watch on the ASX 200 on Thursday
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has 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 team at Morgans regularly picks out its best ASX share ideas. These are the ASX shares that the broker thinks offer the highest risk-adjusted returns over a 12-month timeframe supported by a higher-than-average level of confidence.

Among its best ideas for March are the three ASX shares listed below. Here’s what the broker is saying about them:

Commonwealth Bank of Australia (ASX: CBA)

Australia’s largest bank is on Morgans’ best ideas list again in March. This is despite the broker only having a hold rating and $96.11 price target on its shares. The broker explained:

The second largest stock on the ASX by market capitalisation. We view CBA as the highest quality bank and a core portfolio holding for the long term, but the trade-off is it is the most expensive on key valuation metrics (including the lowest dividend yield). Amongst the major banks, CBA has the highest return on equity, lowest cost of equity (reflecting asset and funding mix), and strongest technology. It is currently benefitting from the sugar hit of both the rising rate environment and relatively benign credit environment.

Endeavour Group Ltd (ASX: EDV)

A new addition to the list this month is drinks giant Endeavour. Morgans believes recent share price weakness has created a buying opportunity for investors. It has an add rating and $7.80 price target on its shares. Morgans commented:

We believe the share price weakness over the past six months on the back of an uncertain regulatory environment (eg, potential introduction of cashless gaming cards in NSW) has shifted the balance of risks to the upside with EDV’s underlying business remaining strong. The company possesses a broad network of retail liquor stores/hotel venues, well-known brands (eg, Dan Murphy’s and BWS) and dominant market positions.

Universal Store Holdings Ltd (ASX: UNI)

Another new addition on Morgans’ best ideas list is Universal Store. The broker likes the youth fashion retailer due to its expansion potential, online opportunity, and its exposure to younger consumers. Morgans has an add rating and $7.00 price target on its shares. It said:

Universal Store (UNI) is one of the largest and fastest growing fashion retailers in Australia. Through a national network of over 100 stores and a successful online platform, UNI curates a diverse range of men’s and women’s fashion, shoes and accessories from local and international brands as well as its own private labels. UNI’s stores trade under the Universal Store, Perfect Stranger and THRILLS banners. UNI has opportunities to grow steadily through the rollout of bricks and mortar stores, increased digital penetration and expansion of wholesale channels. While we recognise the general risk around a decline in consumer expenditure on discretionary categories like apparel, we highlight that the youth demographic is likely to be more resilient.

The post Morgans names 3 of the best ASX shares to buy in March appeared first on The Motley Fool Australia.

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• Bond blitz: CBA offers 6.7% yield, but not on its shares
• Making the first $1,000 in passive income: These are the ASX shares I would buy first
• Buy Rio Tinto and this ASX dividend share: Goldman Sachs
• 6 ASX 200 directors buying up their companies’ shares this week
• Morgans names 2 ASX dividend shares to buy with big yields

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

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The Weebit Nano Ltd (ASX: WBT) share price leapt 7.6% higher in morning trade. 

The ASX tech share, which develops advanced memory technologies for the global semiconductor industry, closed yesterday trading at $7.07. In earlier trade, shares were changing hands for $7.61.

As we head into the lunch hour there looks to have been some profit-taking going on, with the Weebit Nano share price currently up 4%.

This comes on the back of commercialisation news for one of the company’s core products.

What did the ASX tech share report?

The Weebit Nano share price is marching higher after the company reported on the commercial availability of its resistive RAM (ReRAM) IP.

ReRAM is available in SkyWater Technology’s (NASDAQ: SKYT) 130nm CMOS (S130) process. SkyWater’s customers can now integrate Weebit’s non-volatile memory (NVM) in their system-on-chip (SoC) designs.

The company says its ReRAM enables faster semiconductor designs at a lower cost. It also highlighted that ReRAM is more reliable and energy efficient than those using flash or other emerging NVMs.

Commenting on the progress that’s sending the Weebit share price higher today, CEO Coby Hanoch said:

Our valuable partnership with SkyWater has enabled us to bring this first Weebit ReRAM product to market. Our teams have worked tirelessly towards commercialisation of the technology, with our ReRAM IP now commercially available for customers to design their products in SkyWater’s US foundry.

ReRAM is no longer the technology of the future – it is here now.

Looking ahead at the next steps, Hanoch said, “We are now working with a number of potential customers to map the technology’s advantages to their specific design requirements.”

SkyWater CTO Steve Kosier added, “Weebit’s technology has excellent reliability even at high temperatures, and is tolerant to radiation and electro-magnetic fields, making it a great fit for many of our customers’ demanding target markets.”

Weebit will demonstrate its S130 ReRAM IP module in Nuremberg, Germany at Embedded World 2023 on 14-16 March.

Weebit to enter ASX 300

Also likely adding some tailwinds for the Weebit share price is the stock’s upcoming inclusion in the S&P/ASX 300 Index (ASX: XKO). That’s part of the S&P Dow Jones Indices March 2023
quarterly rebalance, announced on Friday.

Being included in the ASX 300 means that more fund managers, often limited to larger-cap stocks, will be able to invest in the company.

Weebit Nano share price snapshot

As you can see in the chart below, the Weebit Nano share price is up a whopping 126% so far in 2023. Over the past 12 months, the ASX tech share has rocketed 172%.

The post Weebit Nano share price just surged 7% on product commercialisation news appeared first on The Motley Fool Australia.

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• Down 17% in 2 days, has the dream run for Weebit Nano shares finally ended?
• Up 59% in a month, guess which ASX All Ords share just hit another multi-year high
• Why Kogan, Praemium, TPG, and Weebit Nano shares are racing higher
• 3 ASX All Ords shares making moves today following earnings, one up 16%
• ASX tech share Weebit Nano has surged 90% in 2023. What’s going on?

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has 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 S&P/ASX 200 Index (ASX: XJO) is having a bit of a slow day so far this Tuesday. At the time of writing, the ASX 200 has slumped by 0.15%, dragging the Index down to around 7,317 points. But that’s nothing compared to the woes of the Megaport Ltd (ASX: MP1) share price.

ASX 200 tech share Megaport is having a shocker today, no way around it. The Megaport share price closed at $5.74 yesterday. But the company opened at $5.50 this morning and has fallen a nasty 10.8% so far, down to just $5.12 a share. Ouch.

So what’s going on here that has elicited such a dramatic slump in the value of Megaport shares this Tuesday?

Well, it appears this share price slump has been sparked by some news out of the company today. In an “executive management update” released to the markets this morning before open, Megaport has announced that none other than its CEO, Vincent English, has tendered his resignation, effective immediately.

Megaport share price tanks after CEO’s abrupt departure

In the ASX statement, Megaport founder and chair, Bevan Slattery, had this to say:

Vincent has provided outstanding leadership as CEO of Megaport for the past six years, leading the business through its scale up and scale out transformation.

Vincent has been responsible for driving the vision of the Company through a period of incredible growth and for creating a legacy which sets the Company up for accelerated revenue growth and operational success in the future.

No other reasons were given for English’s rather abrupt departure.

Slattery will now act as interim CEO while Megaport commences a “global search” for its next leader. English will remain “available” at Megaport until 30 April to “advise and assist” the company with the transition.

English might get some heart from the Megaport share price’s reaction to the news of his departure — investors clearly aren’t thrilled. Although this might also be a consequence of the somewhat rushed nature of this development.

But the Megaport share price has been on struggle street for a while regardless. The company has lost almost 15% year to date in 2023 so far, as well as a painful 60% or so over the past 12 months:

Megaport shares are also down more than 75% from their all-time high above $21 a share that we saw back in late 2021.

The post Megaport share price tumbles 10% on CEO resignation appeared first on The Motley Fool Australia.

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More reading

• Guess which ASX 200 CEO just sold $5 million worth of his company shares?
• Hoping to collect the latest CSL dividend? Here’s how
• 5 things to watch on the ASX 200 on Tuesday
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Guess which ASX 200 director just bought 50,000 of their company’s shares

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 positions in and has recommended Megaport. The Motley Fool Australia has recommended Megaport. 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 founder and CEO of WiseTech Global Ltd (ASX: WTC), Richard White, has just sold around $5 million in shares of the S&P/ASX 200 Index (ASX: XJO) company.

According to a WiseTech announcement to the ASX, the executive made sales between 27 February 2023 to 2 March 2023.

WiseTech share price falls after sale

In late morning trade, the ASX tech share is down by 0.81%.

The company informed the market that White sold 83,209 WiseTech shares for an average price of $62.01. That represents a sale value of around $5.16 million.

For many executives, that could present as a worrisome move.

However, White is one of Australia’s wealthiest individuals and still owns a vast amount of WiseTech shares, so this sale only represents a small amount of his holding.

He still owns 280,354 WiseTech shares directly and 121,042,366 shares indirectly. This means he owns $7.6 billion worth of shares in the ASX 200 company. In other words, it was a tiny portion of his shares.

Also, it’s worth noting that the current WiseTech share price is around $62.49 at the current time, while White’s sales were for an average price of $62. He has seemingly left some money on the table.

This isn’t the first time White has sold shares. He also sold 67,906 shares in early December for $57.13 per share.

Does this mean it’s time to worry?

The fact that the WiseTech share price keeps rising could suggest the market isn’t overly worried.

Certainly, if I had that much of my wealth in one place, I’d want to make sure my wealth was diversified.

The WiseTech share price is up by more than 40% over the past year, despite the succession of interest rate rises.

Investors seem to like the progress the ASX 200 share is making with its market position and financials.

In the first half of FY23, the ASX tech share saw total revenue growth of 35% to $378.2 million. This helped underlying net profit after tax (NPAT) jumped by 40% to $108.5 million, while free cash flow jumped 53% to $137.8 million.

In FY23, the business is expecting revenue to grow by between 26% to 30%, while it expects to achieve underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of between $380 million to $412 million, representing growth of 19% to 29%.

WiseTech share price snapshot

Since the start of 2023, the company has risen by more than 25%.

The post Guess which ASX 200 CEO just sold $5 million worth of his company shares? appeared first on The Motley Fool Australia.

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More reading

• Hoping to collect the latest CSL dividend? Here’s how
• 5 things to watch on the ASX 200 on Tuesday
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Guess which ASX 200 director just bought 50,000 of their company’s shares
• Why are ASX 200 tech stocks like Xero having such a stellar start to the week?

Motley Fool contributor Tristan Harrison 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 WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Core Lithium Ltd (ASX: CXO) share price is trading lower on Tuesday morning.

At the time of writing, the lithium miner’s shares are down 1.5% to $1.00.

Why is the Core Lithium share price falling?

The weakness in the Core Lithium share price may have been driven by a broker note out of Goldman Sachs.

This note was in response to the company’s mineral resource update on Monday, which revealed that it has more than doubled its resource estimate of the Finniss Lithium project from 4.37Mt at 1.53% lithium oxide to 10.1Mt at 1.48% lithium oxide.

While on paper this looks great, Goldman highlights that it isn’t necessarily as good as you might think. It explained:

While BP33’s resource has more than doubled, this translates to only a ~20%/30% increase in Measured & Indicated / Total resource respectively at Finniss, with more than half of the additional resource in the lower Inferred category and at depth (>400m), limiting near-term production upside.

What impact has this had on its valuation?

Goldman has now factored in this increase. And while it extends its life of mine estimate, it hasn’t made a difference to its near term earnings and valuation. As a result, the broker has made no changes to its recommendation and retains a sell rating and 90 cents price target on its shares. It explains:

We now model the additional ~3Mt of M&I resource, which on current processing capacity adds ~2.5 years of additional production life at Finnis, extending our life of mine (LOM) to nearly 15 years, though we lower our nominal value for exploration and growth with this resource increase now in our base case.

Our near term earnings are unchanged, including near term production delays from wet weather and forecast declines in lithium pricing, with a minor increase in NAV and our A$0.90/sh PT remaining unchanged.

The post Broker gives its verdict on the Core Lithium share price appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why Block, BrainChip, Core Lithium, and Life360 shares are racing higher
• Why is the Core Lithium share price soaring 11% today?
• Here are the 10 most shorted ASX shares this week
• What’s happening with ASX 200 lithium stocks this week?

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

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The Woodside Energy Group Ltd (ASX: WDS) share price is defying the broader market retreat today to post a late morning gain of 0.9%. 

Shares in the S&P/ASX 200 Index (ASX: XJO) oil and gas company closed yesterday at $37.21. Shares are currently changing hands for $37.54 apiece.

This comes as ASX 200 investors consider some strong words of support for the domestic gas sector from prime minister Anthony Albanese.

Why is Albanese backing gas energy?

The Woodside share price could be getting a lift on news that Albanese supports gas for a “key role” in Australia’s energy mix as the world transitions towards cleaner energy.

Addressing The Australian Financial Review Business Summit for the first time, Albanese pointed to recent global energy shocks, saying these “have presented us with a series of national wake-up calls”.

Among those wake-up calls, is Australia’s own antiquated energy grid.

Albanese said it will take time for the world to transition to net zero, but that doesn’t mean there’s time to waste.

“The work of transition will require massive investment in building new physical assets and modifying existing ones,” he said (quoted by the AFR).

Potentially giving the Woodside share price some tailwinds today, the prime minister focused on the importance of gas in this ongoing transition:

This is where gas in particular has a key role to play, as a flexible source of energy – providing peaking power today and continuing to provide firming and back-up power. Helping to smooth the transition to renewables, while guaranteeing energy security both for Australia and for our partners in the region.

One of the things holding back new investments in gas exploration and project expansion in Australia is uncertainty over future legislation that could turn the billion-dollar projects into stranded assets.

But Albanese sought to allay those fears.

For Woodside shareholders alongside other gas explorers and producers, the prime minister said it’s “important they can look to government for the confidence and certainty of a stable foundation and a long-term vision”.

Woodside share price snapshot

The Woodside share price has seen some big swings over the past year amid volatile energy prices.

As you can see in the graph below, shares in the ASX 200 energy company are now up 9% in 12 months.

The post Woodside share price gains as Albanese supports gas in energy ‘wake-up call’ appeared first on The Motley Fool Australia.

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More reading

• Hoping to bank the supersized Woodside dividend? You’d better hurry
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• Why did the Woodside share price outperform the ASX 200 in February?
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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has 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 Pentanet Ltd (ASX: 5GG) share price has been a sensational performer on Tuesday.

In early trade, the cloud gaming provider’s shares rocketed as much as 70% to 28 cents.

The Pentanet share price has pulled back a touch since then but remains up 42% at 23.5 cents today.

Why is this ASX share rocketing higher?

Investors have been scrambling to buy the company’s shares after it announced a collaboration agreement with Optus Mobile.

According to the release, the initial 12-month agreement will see Pentanet deliver the NVIDIA GeForce NOW cloud gaming service to Optus customers.

Management believes that this agreement marks a significant milestone towards its goal of commercialising GeForce NOW with the introduction of Pentanet’s first large-scale wholesale partner.

The two parties will work towards a program that enables enhanced experience for GeForce NOW users on Optus SubHub, with a specific focus on 5G and the GeForce NOW user management platform, CloudGG.

Solidifying its position

Pentanet’s managing director, Stephen Cornish, was pleased with the news and believes it will solidify its position in the market. He said:

This is a big step towards solidifying our position in the gaming market, being the wholesale digital distribution channel for GeForce NOW in our territories. I’m looking forward to working closely with Optus and putting this game changing platform into the hands of new users.

Optus’ managing director of marketing and revenue, Matt Williams, added:

Our mission is to break down the barriers to gaming and offer our customers the freedom to play anywhere and anytime. Cloud gaming is an ideal example for 5G in the home and on the go, given the need for high speed, low latency connectivity, and we are excited that we will be able to offer that to our customers very soon.

The post Guess which ASX share is skyrocketing 70% after securing a deal with Optus appeared first on The Motley Fool Australia.

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More reading

• Hoping to collect the latest CSL dividend? Here’s how
• ASX 200 stock InvoCare rallies 37% on takeover approach
• How I’d aim to replace an entire salary with passive income from ASX dividend shares
• Sayona Mining share price charges higher following $55m cap raise
• Mineral Resources share price slides as Norwest takeover bid heats up

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 recommended Pentanet. 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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