The Bitcoin (CRYPTO: BTC) price currently stands at US$16,699 (AU$24,454).

That’s right about where BTC kicked off the new year three days ago.

But it’s some 65% lower than the US$47,170 the world’s first and still top crypto commanded on 1 January 2022.

Adding in the selling action in the final seven weeks of 2021, the Bitcoin price closed 2022 down 76% from its all-time 10 November 2021 highs, according to data from CoinMarketCap.

Here’s what went wrong for the leading digital token in the year gone by.

Bitcoin price hit by multiple headwinds

On a macroeconomic level, the Bitcoin price was hammered by the same forces which saw tech shares take a beating last year.

Namely, fast-rising interest rates instituted by almost every leading central bank the world over.

The rapid increase in the cost of money saw the tech-heavy NASDAQ Composite Index finish the year down a painful 34%. Here on the ASX, the S&P/ASX All Technology Index (ASX: XTX) fell a similar amount.

If nothing else, 2022 showed that the Bitcoin price is closely linked to the performance of growth stocks. And highly susceptible to the impacts of rising interest rates.

The crypto world was also rocked by a number of massive meltdowns in 2022.

First, there was the implosion of TerraUSD (CRYPTO: UST) in May. The so-called stablecoin was intended to be pegged to the US dollar. But a liquidity crunch saw crypto investors rush to sell their holdings, driving the token to mere pennies on the dollar.

Jittery investors sold off most cryptos over the following weeks, and the Bitcoin price was not spared.

As if that wasn’t enough, November saw the collapse of global crypto exchange FTX.com.

Co-founded by Sam Bankman-Fried, FTX was one of the top five crypto exchanges in the world.

But in another instance of liquidity evaporating, FTX went belly up almost overnight and Bankman-Fried is now facing a potentially lengthy jail term in the United States.

In the immediate aftermath of the FTX collapse, the Bitcoin price fell to more than two-year lows of US$15,599.

What’s next?

As for what crypto investors might expect in the year ahead for the Bitcoin price, much of that will hinge on interest rates.

Should the US Federal Reserve and other leading global central banks begin to ease off on their aggressive tightening paths, it should throw up some welcome tailwinds for tech stocks and crypto assets alike.

The post The Bitcoin price crashed 65% in 2022. Here’s why appeared first on The Motley Fool Australia.

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More reading

• Hot out the gate: 2 ASX 200 shares kicking off 2023 with new 52-week highs
• What’s going on with ANZ shares on Tuesday?
• Warren Buffett: the 3 vital investing rules the world’s best investor follows
• Bell Potter names the ASX healthcare shares to buy in 2023
• 3 ASX All Ordinaries shares defying today’s downturn to rocket higher

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin. The Motley Fool Australia has positions in and has recommended Bitcoin. 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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Two S&P/ASX 200 Index (ASX: XJO) shares have started 2023 off on the right foot, leaping to 52-week highs on the first session of the new year.

Making their achievement more impressive is the broader market’s suffering. The ASX 200 has plummeted 1.43% at the time of writing to hit 6,938.1 points.

That was despite a strong start to today’s trade. The index lifted 0.46% early this morning before plunging into the red.

Fortunately, not all has been dire on the market on Tuesday. Let’s take a look at the two ASX 200 shares that launched to their highest point in 12 months today.

The ASX 200 shares starting 2023 with fresh highs

The first ASX 200 share starting 2023 off with a new 52-week high is QBE Insurance Group Ltd (ASX: QBE). It lifted 0.44% in early trade to peak at $13.49 – marking a new post-pandemic high.

Sadly, the stock didn’t hold onto its gains. It has since slipped 2.57% to trade at $13.09 at the time of writing.

And that could be a great entry point if broker Morgans is to be believed. It’s tipping the QBE share price to soar to $14.93, my Fool colleague James reports, a potential 14% upside.

Joining QBE in posting a new 52-week high today is ASX 200 wagering company Tabcorp Holdings Limited (ASX: TAH). Its stock is soaring 2.79% right now to post a new 52-week high of $1.11.

Of course, that’s accounting for the change to the company’s valuation brought about by its demerger of the Lottery Corporation Ltd (ASX: TLC). The Tabcorp share price plummeted more than 80% when it spun out the now-ASX 200 giant in May.

The Lottery Corporation currently has a market capitalisation of $10.1 billion while that of Tabcorp sits at $2.5 billion.

The post Hot out the gate: 2 ASX 200 shares kicking off 2023 with new 52-week highs appeared first on The Motley Fool Australia.

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More reading

• 2022 was strong for the NAB share price. What’s next?
• Why HT&E, Seven West Media, Tabcorp, and Weebit Nano shares are rising
• Here’s how I’d invest $5,000 in ASX 200 shares to earn a second income
• Morgans names 2 ASX 200 dividend shares to buy with 5%+ yields
• Bought $1,000 of AGL shares 10 years ago? Here’s how much dividend income you’ve received

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

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ANZ Group Holdings Ltd (ASX: ANZ) shares are having a tough start to the year.

In afternoon trade, the banking giant’s shares are down over 3% to $22.89.

This follows broad weakness in the banking sector today amid heightened market volatility.

What else is going on with ANZ shares?

As you might have noticed recently, ANZ has been trading under the ticker code ANZDA since late last year.

This is due to its decision to establish ANZ Group Holdings Limited as the new listed non-operating holding company (NOHC) of the ANZ group.

In order to make this change, ANZ shares had to be shifted temporarily to the ANZDA ticker code so the company could issue new ANZ NOHC shares to shareholders under the original ticker code.

This change is now more or less complete after the bank issued ANZ NOHC shares to eligible shareholders this morning on a one-for-one basis.

However, some ineligible foreign shareholders did not receive ANZ NOHC shares. Instead, these shareholders will receive the cash proceeds of the sale of the ANZ NOHC shares by the sale agent.

The release reveals that there are 1,838,105 ANZ NOHC shares attributable to ineligible foreign shareholders that will be sold for this reason. It’s unclear if these have been sold today. But if they have, this would explain why ANZ shares are falling more than other big four banks this afternoon.

Why the change?

Last month, ANZ chair, Paul O’Sullivan, explained the rationale for the change to a non-operating hold company model. He said:

Customers are demanding more from their banks. Better services, better products and better digital solutions. Consistent with this, traditional banking is facing significant disruption from new non-bank competitors, mainly global technology companies launching financial services products.

Understandably, these businesses are not regulated in the same way as banks like ANZ. This new NOHC will allow ANZ to partner with technology companies on a level playing field. Essentially, the restructure is about making our banking business more efficient by creating a better structure for investing in our non-bank partners. It will provide greater strategic and operational flexibility.

ANZ shares are expected to resume trading under the original ANZ ticker code from the commencement of trade on Wednesday.

The post What’s going on with ANZ shares on Tuesday? appeared first on The Motley Fool Australia.

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More reading

• Better buy for 2023: Westpac vs. ANZ shares
• What is ANZDA and why has it just hit my ASX portfolio?
• 2 reasons to buy CBA shares before 2023 (and 2 reasons to sell)
• Is there something strange going on with ANZ shares today?
• Here are the top 10 ASX 200 shares 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 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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Warren Buffett.

The name alone causes most investors to drop whatever else they’re doing and pay attention.

And for good reason.

Warren Buffett notched up his first billion dollars back in the 1980s. And as the chairman and CEO of Berkshire Hathaway, he’s continued to build on that wealth since.

For many years now, he’s been counted not just as one of the world’s richest people but also as one of the all-time greatest investors.

And the Oracle of Omaha isn’t one to keep his investment strategies to himself. He readily shares his wisdom on how he’s managed to achieve outsized returns in interviews and videos.

Below we look at three vital investing rules Warren Buffett swears by.

Patience is a virtue Warren Buffett advises

We’d all like to think we can somehow time the stock market. That we may know something most investors don’t.

But the reality is timing the market correctly is incredibly difficult, even for seasoned investors. And we don’t know of any investors who’ve managed to do so consistently over the long term.

Which is why Warren Buffett says, “The stock market is designed to transfer money from the active to the patient.”

That means not jumping into a company’s stock simply because it’s getting a lot of media attention. If the price is too high, it’s best to be patient and wait for it to come down to a fair value.

Similarly, when share markets come under pressure, as we saw in much of 2022 amid soaring inflation, your portfolio may lose value. Here again, patience is advised as, historically, stock markets have always recouped past losses and marched higher over time.

Stay with what you know

A second golden investing rule that’s helped Warren Buffett amass his billions is investing only in companies and sectors he’s familiar with.

This has seen Buffett avoid the likes of cryptocurrencies and tech stocks. While that may have cost him some profits in the low interest rate boom times, it’s also saved him some hefty losses over the past year.

That’s not to say everyone should avoid tech stocks. Far from it. But according to the Oracle of Omaha, you should only invest in a sector or company if you understand how it works.

We all have our different areas of expertise. Sticking to investing within those areas can give you an edge over other investors who are outside their comfort zones.

Warren Buffett: look for real value

The best investments, Warren Buffet advises, provide real-world value, not just market value.

In other words, don’t get sucked into the trap of buying shares that are the market darlings of the hour. You may find you’ve bought close to the medium-term highs and then find yourself selling at a loss.

That’s why Buffett looks for companies that offer real-world value, with great brands and the ability to control prices.

A bit of research on the past few years of financial results should give you a good grasp on the health of a company’s balance sheet and whether they’re likely to deliver consistent profits in the years ahead.

The post Warren Buffett: the 3 vital investing rules the world’s best investor follows appeared first on The Motley Fool Australia.

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More reading

• Bell Potter names the ASX healthcare shares to buy in 2023
• 3 ASX All Ordinaries shares defying today’s downturn to rocket higher
• Why are ASX 200 lithium shares running on empty today?
• Leading brokers name 3 ASX shares to buy today
• 2022 was strong for the NAB share price. What’s next?

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Berkshire Hathaway. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2023 $200 calls on Berkshire Hathaway, short January 2023 $200 puts on Berkshire Hathaway, and short January 2023 $265 calls on Berkshire Hathaway. The Motley Fool Australia has recommended Berkshire Hathaway. 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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If you’re interested in adding some healthcare sector exposure to your portfolio, then it could be worth taking a look at what Bell Potter is recommending.

It has named its top picks in the healthcare sector for 2023 and the two ASX healthcare shares named below are on the list.

Here’s what the broker is saying about these shares:

PolyNovo Ltd (ASX: PNV)

This medical device company is an ASX healthcare share to buy according to Bell Potter. Its analysts currently have a buy rating and $2.30 price target on its shares. This compares to the latest PolyNovo share price of $2.04.

Its analysts believe a recent capital raising leaves PolyNovo well-placed for growth. It commented:

The key offering of Polynovo is the proprietary biodegradable temporising matrix (BTM) that is utilised in the management of complex wounds and severe burns. The recent $33m capital raising in November 2022 provides the growth platform to facilitate expansion of the US and global sales team with key markets in Asia & Canada being targeted. Product launch within Hong Kong and India has already taken place during 1H23 whilst entry into Japan/ China is planned through a distributor model. These new operating segments increase the addressable market especially in regions with a significant healthcare burden of burns and complex/trauma wounds.

Telix Pharmaceuticals Ltd (ASX: TLX)

Another ASX healthcare share to buy could be this radiopharmaceutical company. Its analysts currently have a buy rating and $9.00 price target on its shares. This is notably higher than the current Telix share price of $6.97.

The broker is expecting Telix’s Illuccix product to generate material revenue in 2023. It also remains optimistic on its clinical trials. The broker explained:

We retain TLX as a key pick following very strong execution of its US business plan over recent months. Revenues from the sale of Illuccix continue to grow each quarter and the product is now expected to generate in excess of $300m in revenues in 2023. In the clinic, TLX 101 has generated positive trial data for the treatment of glioblastoma and TLX 250CDx reported positive data from its pivotal study for the imaging of clear cell renal carcinoma. The product is now expected to become the company’s second on market in late calendar year 2023. Telix remains well capitalised with $117m in cash at 30 September 2022 and based on our forecast, is expected to generate its maiden profit in CY2023.

The post Bell Potter names the ASX healthcare shares to buy in 2023 appeared first on The Motley Fool Australia.

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More reading

• The 3 best-performing ASX 200 healthcare shares of 2022 revealed
• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today
• Why Domino’s, New Hope, PolyNovo, and Telstra shares are pushing higher today

Motley Fool contributor James Mickleboro has positions in Telix Pharmaceuticals. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended PolyNovo. 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 new year is off to a disastrous start for the All Ordinaries Index (ASX: XAO) and most of the shares that call it home.

Despite posting a strong start to Tuesday’s session ­– it jumped as high as 0.47% in early trade – the benchmark index tumbled to a two-month low this afternoon.

Right now, the All Ordinaries is down 1.62% at 7,104.7 points.

Fortunately, though, not all its constituents are suffering. We’ve rounded up three that are posting gains of as much as 7%. Let’s take a look.

3 All Ordinaries shares posting whopping gains

The first All Ordinaries share defying today’s tumble is Airtasker Ltd (ASX: ART). Stock in the online marketplace for services is leaping 2.9% to trade at 35.5 cents right now despite the company’s silence.

Sadly, however, today’s gain hasn’t proven enough to boost the embattled share back into the long-term green. It’s fallen 75% since it floated on the ASX in March 2021.

Next up is media and entertainment company HT&E Ltd (ASX: HT1). The All Ordinaries share is roaring 3.63% higher to swap hands for $1 apiece. Its gain comes on news of a major divestment.

The company today revealed it’s agreed to sell its 25% stake in Soprano Design to Potentia Capital for around $66.3 million in cash.

If the name Potentia rings any bells, it’s likely because it’s the private equity firm that recently put in so-far-unsuccessful bids for both Tyro Payments Ltd (ASX: TYR) and Nitro Software Ltd (ASX: NTO).

Finally, the Neuren Pharmaceuticals Ltd (ASX: NEU) share price is rocketing 7.67% right now to trade at $8.56.

That’s despite no news having been released by the All Ordinaries biopharmaceutical share.

Today’s gain included, the stock is just 2.8% lower than the 15-year high it posted in November.

The post 3 ASX All Ordinaries shares defying today’s downturn to rocket higher appeared first on The Motley Fool Australia.

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• Why HT&E, Seven West Media, Tabcorp, and Weebit Nano shares are rising
• How I’d invest $10,000 in ASX shares if I was starting from scratch in 2023
• Could this beaten-down ASX share be the next 100-bagger?
• 10 ASX shares I think are buys for 2023
• Prediction: 2 ASX shares I think could soar 1,000% in the next 10 years

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

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Many ASX 200 lithium shares are in the red on the first day of new year trading.

Pilbara Minerals Ltd (ASX: PLS) shares are down nearly 4% at the time of writing, while Core Lithium Ltd (ASX: CXO) is down 1.27%. Shares in Allkem Ltd (ASX: AKE) are currently trading 1.51% lower while Sayona Mining Ltd (ASX: SYA) shares are currently even with Friday’s closing price.

Let’s take a closer look at what might be weighing on lithium stocks today.

What’s going on?

Materials shares are falling overall so far today, with the S&P/ASX 200 Materials Index (ASX: XMJ) down 1.13% at the time of writing. They’re performing better than the S&P/ASX 200 Index (ASX: XJO) which is down 1.67%.

Lithium is an essential component in the use of electric vehicle (EV) batteries. News that EV giant Tesla delivered fewer vehicles than expected in 2022 could be weighing on demand sentiment today.

Overnight, Tesla announced it delivered 405,278 electric vehicles in the fourth quarter of 2022. Overall in 2022, EV deliveries grew 40% year on year to 1.31 million.

However, this fell short of the company’s goal to lift deliveries by 50%, Bloomberg reported. Also, analysts had been tipping Tesla to deliver 420,760 vehicles during the quarter. Bernstein analyst Toni Sacconaghi said (as cited by Bloomberg):

We believe that Tesla is facing a significant demand problem. We believe Tesla will need to either reduce its growth targets (and run its factories below capacity) or sustain and potentially increase recent price cuts globally, pressuring margins.

Meanwhile, economic data out of China could also be weighing on investors’ minds. Manufacturing in China slowed in December, Bloomberg reported. China makes 75% of all lithium-ion batteries, according to a December Australian Department of Industry report.

In recent news, Core Lithium advised on Friday it has achieved the first shipment of 15,000 dry metric tonnes (dmt) of 1.4% Li2O. This achieved a price of US$951 per dmt. The ship will depart Darwin for Fancheng, China. Core Lithium CEO Gareth Manderson said:

The first DSO shipment being loaded for export from the Darwin Port is another significant milestone for the company.

Share price snapshot

The Core Lithium share price has soared 70% in a year

 The Sayona Mining share price has jumped 44% in the last 52 weeks.

Allkem shares have climbed 6% in a year.

Pilbara shares have gained 12.5% in the past year.

The post Why are ASX 200 lithium shares running on empty today? appeared first on The Motley Fool Australia.

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• Why Invictus Energy, New Hope, Pilbara Minerals, and WiseTech shares are dropping
• Why has the Core Lithium share price fallen 26% in a month?
• Here are the 10 most shorted ASX shares
• 5 things to watch on the ASX 200 on Tuesday
• Here’s what I think could impact the Core Lithium share price in 2023

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

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With most brokers taking a break over the holiday period, research notes are few and far between right now.

But don’t worry because listed below are three recent broker buy recommendations that still have plenty of upside potential.

Here’s why brokers think these ASX shares are in the buy zone:

Life360 Inc (ASX: 360)

According to a note out of Goldman Sachs, its analysts have a buy rating and $7.60 price target on this location technology company’s shares. Goldman believes that Life360 has ended the year positively, which it feels eases any risk to its FY 2022 guidance. In addition, the broker notes that the company’s subscription business trades at a discount to global subscription app peers when adjusting for its superior growth outlook. As a result, it sees scope for a re-rating in the future. The Life360 share price is trading at $4.85 today.

Maas Group Holdings Ltd (ASX: MGH)

Another note out of Goldman Sachs reveals that its analysts have a buy rating and $4.20 price target on this property, construction, and infrastructure solutions provider’s shares. Goldman highlights that Maas is in a transition phase that will see higher quality real estate income become the largest source of earnings in the next three years. And with Maas’ shares trading at 10x forward earnings, it believes there’s a lot of value on offer here. The Maas share price is fetching $2.58 today.

Premier Investments Limited (ASX: PMV)

Analysts at Macquarie have an outperform rating and $29.00 price target on this retail conglomerate’s shares. Macquarie has been impressed with the Smiggle and Peter Alexander owner’s strong start to the financial year. In fact, it highlights that the company’s sales growth is tracking ahead of its expectations. This led to Macquarie upgrading its earnings estimates for the year. The Premier Investments share price is trading at $24.57 on Tuesday.

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

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More reading

• 23 ASX shares to buy in 2023 – brokers
• Bell Potter names the ASX tech shares to buy in 2023
• Top brokers name 3 ASX shares to buy today
• Why Block, Life360, Pilbara Minerals, and Syrah shares are dropping today
• How to swap your job for $75,000 in retirement income using ASX dividend shares

Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360. The Motley Fool Australia has recommended Premier Investments. 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 National Australia Bank Ltd (ASX: NAB) share price managed to significantly outperform the S&P/ASX 200 Index (ASX: XJO) in 2022.

Last year, the ASX 200 fell by around 7%, while NAB shares managed to deliver a positive gain of around 4%.

How did the bank manage to deliver a positive performance? I’d suggest it may have been down to two key things.

Positive run in 2022

A key factor for the performance of the ASX bank share segment of the market is interest rates.

The main profit generator for the Australian banking sector is lending. A change in the central bank interest rate can have widespread impact on the economy.

There were several interest rate rates by the Reserve Bank of Australia (RBA) last year. The interest rate jumped from 0.1% to 3.10%.

The lower official interest rate hurt bank lending margins, meaning their profitability was reduced. So, it would be logical for investors to think that higher interest rates can help lending margins.

NAB said that in the second half of its FY22, it had a net interest margin (NIM) of 1.67%. But, the fourth quarter NIM was 1.72%, up 10 basis points on the third quarter. This could be promising for short-term profitability.

Another factor that I think helped the ASX bank share in 2022 was that management has done a good job at turning the bank around and achieving growth.

In the FY22 report, the company reported cash earnings growth of 8.3% to $7.1 billion. Excluding the Citi consumer business acquisition, revenue rose 7.8%, mainly reflecting higher volumes with growth of 7.3% (with housing lending up 5.6% and non-housing lending up 9.6%).

NAB shares finished the 2022 financial year well capitalised, with a common equity tier 1 (CET1) ratio of 11.51%.

What could 2023 bring for the NAB share price?

The NAB CEO Ross McEwan referred to keeping “strong balance sheet settings”. McEwan said when he delivered the bank’s FY22 result:

Maintaining these settings is important during the current economic uncertainty, with higher interest rates and higher inflation likely to challenge some customers. However, strong employment conditions along with substantial household and business savings give us confidence in the resilience of our customers and the broader economy.

Our strategy is long term, and is not dependent on any particular operating environment or economic conditions. It is centred around an enduring ambition to improve the outcomes for our customers and colleagues. We have made good progress over the past two years which positions us well for a changing environment. However, there is more we can do. We will continue to remain focused on the disciplined execution of our strategy to support sustainable growth in earnings and shareholder returns over time.

However, the bank has also outlined key considerations for FY23.

It said that housing lending competitive pressures are “likely to intensify”, as well as the deposit mix headwind accelerating, further increasing funding costs.

The NIM impact of RBA cash rate increases on unhedged deposits is “expected to peak” in the first half of FY23, with the estimated benefit of cash rate increases from October 2022 expected to be “lower”.

So, the current monthly NIM that NAB is experiencing may be close to the best it is going to see during 2023. However, investors may also pay close attention to borrower arrears. If the higher interest rates mean some borrowers can’t afford their loans, then that could cause problems, leading to bad debts.

If I had to guess, I wouldn’t be surprised if the NAB share price doesn’t move that much over 2023.

The post 2022 was strong for the NAB share price. What’s next? appeared first on The Motley Fool Australia.

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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 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 Core Lithium Ltd (ASX: CXO) share price has tumbled over the past month.

Core Lithium shares have descended nearly 26% since market close on 2 December and are currently fetching $1.02. For perspective, the S&P/ASX 200 (ASX: XJO) has shed 4% in the last month.

So what has been going on with the Core Lithium lately?

What’s impacted Core Lithium in December?

Core Lithium is not the only ASX lithium share that has fallen in the last month. Pilbara Minerals Ltd (ASX: PLS) shares have slid 26% in a month, while Sayona Mining Ltd (ASX: SYA) shares have lost 19%.

Core Lithium shares plunged nearly 30% between market close on 2 December and 28 December before finishing the year on a high.

A bearish note out of Goldman Sachs may have weighed on the company’s shares in early December. The broker put a sell rating on Core Lithium with a $1 price target. The commodity team at Goldman predicted lithium prices would start to fall in the second half of 2023. Analysts said:

Our commodity team now expect lithium prices through 1H23 to reflect the near-term tightness and lagging spodumene contract price pass-through before declining over 2H23.

Electric vehicle demand concerns, the performance of US lithium shares, and the lithium price also weighed on ASX lithium shares in December.

The lithium carbonate price descended 15.6% from CNY 562,500 on 1 December to CNY 474,500 on 30 December.

On the US market, Livent Corp (NYSE: LTHM) shares have shed 24% in the last month, while Sociedad Quimica y Minera de Chile (NYSE: SQM) shares have lost 16%.

In positive news for Core Lithium in December, the team at Macquarie lifted its outlook on the Core Lithium share price to outperform with a $1.30 price target on the share price. This implies a 28% upside based on the current share price.

Macquarie is optimistic about the company’s ability to generate bumper free cash flow in the 2024 and 2025 financial years.

Core Lithium loaded the first shipment of 1.4% lithium oxide direct shipping ore from the Finniss mine on December 30. The ship containing 15,000 dmt of lithium oxide is bound for China from Darwin. Core Lithium shares soared nearly 6% on this day.

Commenting on this news, CEO Gareth Manderson said:

Core has made good progress during 2022 to transition from a mine developer to lithium producer. In 2023 we will continue this transition and the work required to build a quality operating business.”

Core Lithium share price snapshot

The Core Lithium share price has soared 73% in the past 52 weeks.

Core Lithium has a market capitalisation of nearly $1.9 billion based on the current share price.

The post Why has the Core Lithium share price fallen 26% in a month? appeared first on The Motley Fool Australia.

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• These were the best-performing ASX 200 shares of 2022

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

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