The Paradigm Biopharmaceuticals Limited (ASX: PAR) share price is soaring today amid news the company will present its research at an international conference.

Paradigm shares are trading at $1.92 each, up 11.63%, at the time of writing. Earlier this morning, they fetched a high of $1.97 a share. That was a gain of 14.82% on the previous closing price.

Let’s check the latest news from the drug repurposing company.

Paradigm to present at an international conference 

Paradigm Biopharmaceuticals announced this morning it will present research at an international conference on lysosomal diseases. The event will be held in Sydney in February next year.

The oral presentation will focus on the drug development company’s phase 2 study of treating the inherited metabolic disease, mucopolysaccharidoses (MPS) type I.

To treat the disease, Paradigm Biopharmaceuticals is researching the use of pentosan polysulfate sodium (PPS), a medication that has been used in the past to help with bladder pain.

One of the long-term goals of the company’s research project is to register injectable PPS as a treatment for MPS.

Paradigm Biopharmaceuticals CEO Marco Polizzi said:

Alongside our robust osteoarthritis clinical program, Paradigm is proud to work with specialists in the field of lysosomal storage diseases to potentially enable MPS sufferers to function more easily in their day-to-day activities. We are continuing discussions to progress the development of PPS for patients with MPS and believe that this data will contribute to planning and design for the registration of injectable PPS as an adjunctive therapeutic option for patients with MPS-I and MPS-VI.

Severe cases of MPS-I occur in about one in 100,000 births, with enzyme replacement therapy (ERT) being a common treatment. The reported annual cost for ERT for patients with MPS-1 in 2017 was USD$218,000.

Paradigm Biopharmaceuticals is also developing PPS for a range of other clinical uses, including for treating pain in patients suffering from musculoskeletal disorders. As well, it’s exploring its use for the respiratory system and heart failure.

Other recent initiatives of the company include partnering with the NFL Alumni Association to provide education about osteoarthritis and how to treat it. 

Paradigm share price snapshot

The Paradigm share price is currently up 1.33% year to date and more than 6% for the past year.

That’s a better performance than the S&P/ASX 200 Index (ASX: XJO) which is down around 6% year to date and 7% over the past 12 months.

It’s been a huge month for the Paradigm Biopharmaceutical share price. It’s up almost 88% in that time, giving the company a market capitalisation of almost $430 million.

The post Why is the Paradigm Biopharmaceuticals share price up 12% on Monday? appeared first on The Motley Fool Australia.

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Motley Fool contributor Matthew Farley 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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ASX copper shares are soaring today amid a strong outlook for the copper market and rising imports from China.

Copper explorers in the green include Copper Mountain Mining Corporation (ASX: C6C), Sandfire Resources Ltd (ASX: SFR), Oz Minerals Limited (ASX: OZL) and 29Metals Ltd (ASX: 29M).

So let’s take a look at what could be impacting ASX copper shares today?

What’s happening?

Copper Mountain shares are exploding 34% at the time of writing today, while Sandfire shares are rising 6.36%. Meanwhile, Oz Minerals shares are skyrocketing 34% and 29Metals shares are surging 15.51%.

This morning, Oz Minerals highlighted the strength of copper and nickel in an update to the market. The miner knocked back a takeover bid from the BHP Group Ltd (ASX: BHP).

Oz Minerals said there was a “strong long-term outlook” for the copper and nickel market. The company highlighted the growing geological scarcity, global electrification and decarbonisation. Managing director Andrew Cole said:

We have a unique set of copper and nickel assets, all with strong long-term growth potential in quality locations. We are mining minerals that are in strong demand particularly for the global electrification and decarbonisation thematic and we have a long-life Resource and Reserve base.

Meanwhile, copper imports into China jumped 9.3% in July compared to the same time last year, according to a Reuters report published on mining.com. However, the imports were 13.8% down on the previous month.

CRU Group copper analyst He Tianyu said:

There was large-volume buying from Chinese copper users and traders when the market hit lows.

In a research note today, ANZ analysts said China’s commodity imports for July showed “signs of improvement in demand”. Analysts said:

Copper imports benefitted from lower prices, favourable import parity and depleted inventories.

The post ASX copper shares explode by up to 34% following BHP takeover bid appeared first on The Motley Fool Australia.

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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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Wesfarmers Ltd (ASX: WES) shares are among the most popular ASX blue chip investments on the S&P/ASX 200 Index (ASX: XJO) today. This ASX 200 industrial and retailing conglomerate is now the ninth-largest share on the ASX 200 index by market capitalisation.

But not only that, Wesfarmers is a prominent feature of the ASX retailing landscape through its proxies like Bunnings and Officeworks. Chances are most of us visit at least one Wesfarmers-owned store regularly.

But the vast number of underlying businesses, ownership stakes in businesses, and other assets Wesfarmers owns can make it hard to really understand what one is buying when a Wesfarmers share is purchased. So today, let’s see what is under the hood of a Wesfarmers share.

So, as evidenced through Wesfarmers’ last half-year report (delivered back in February), Wesfarmers likes to divide its earnings into six divisions. These are:

• Bunnings
• Kmart Group
• Officeworks
• WesCEF
• Industrial and Safety
• Other Businesses

Wesfarmers broken down

So the Bunnings and Officeworks divisions are self-explanatory, covering only the operations of the Bunnings Warehouse and Officeworks businesses.

Kmart Group includes the discount store chain Kmart. But also that of the fellow Wesfarmers-owned retailer Target.

Wesfarmers’ fledgling Catch.com.au company used to be part of this group, but has recently been moved to a new division called ‘Wesfarmers OneDigital’. This also includes the OnePass data business. We should see this new division broken down a bit more when Wesfarmers drops its next annual report.

WesCEF stands for Wesfarmers Chemicals, Energy and Fertilisers. Although it is a relatively small part of Wesfarmers’ overall earnings base, WesCEF is a rather large collection of different businesses and interests.

These include the Covalent Lithium joint venture and the Kleenheat energy business. There are also CSPB Fertilisers and Ammonia, Ammonium Nitrate and Industrial Chemicals, Australian Vinyls and the Australian Gold Reagents joint venture.

Like WesCEF, Industrial and Safety is a collection of smaller underlying businesses and ventures. Among these is the Workwear Group, which owns clothing brands like King Gee, Wolverine and Hard Yakka. It also includes risk management company Greencap, tool maker Blackwoods and gas company Coregas.

Meanwhile, ‘Other Businesses’ is Wesfamers’ division that houses the company’s remaining 5% stake in Coles Group Ltd (ASX: COL).

It also is home to the company’s 50% share of consumer loyalty company Flybuys, a stake in BWP Trust (ASX: BWP) and stakes in both financial services provider Gresham Partners and plantation company Wespine Industries.

What else does an investor get with Wesfarmers shares?

It’s worth noting that since the release of Wesfarmers’ half-year report, the company has finalised the acquisition of the old Australian Pharmaceutical Industries (API) business. API used to be listed on the ASX.

Wesfarmers now owns this pharmacy operator as well, which now forms the core of the company’s new Health division. Again, we’ll have to wait until Wesfarmers’ next annual report to see how the earnings from this new division have bedded into the company’s overall earnings.

So, Wesfarmers reported a total of $1.778 billion in earnings before tax for the six months to 31 December 2021. Of that $1.778 billion, Bunnings easily claimed the lion’s share. The division came in with $1.259 billion in earnings.

In contrast, the Kmart Group recorded $178 million in earnings. Officeworks was $82 million, while WesCEF was responsible for $218 million. Industrial and Safety and Other Businesses were the smallest contributions, with just $41 million and $18 million in earnings respectively.

So as you can see, Wesfarmers is an enormously diverse company with many fingers in many pies. Saying that, its earnings base is still very much dominated by its flagship Bunnings business. This division contributed more than 70% of the company’s overall earnings over the six months to 31 December.

But this is what you are getting with an investment into Wesfarmers shares on the ASX today. There’s certainly a lot going on.

The post What are you getting when you buy Wesfarmers shares on the ASX today? appeared first on The Motley Fool Australia.

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

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

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

But the company’s coronavirus vaccine is still selling heavily, and it’s developing updated jabs to ensure it has something effective to sell for the rest of the year and beyond. On July 29, it announced that the U.S. government had placed a purchase order for more than $1.7 billion to secure the updated shots. And it’s still expecting to make around $21 billion in sales this year. Per its earnings report on August 3, that expectation looks to be fully within reach and likely to be realized.

Brace yourself, because your resolve to hold onto your stocks could get tested big time, and soon. With the S&P 500 Index dipping as low as 23% within the past couple of months, we’ve hit the ballpark of bear market territory. The index currently hovers around a 12% drop year to date, but there could be more pain on the horizon. 

If you sell your shares, you won’t get the advantage of the market’s eventual recovery, so you’ll need to buckle down and prepare yourself to hold out. Let’s learn about three of the most common ways that bear markets create the very powerful temptation to sell so that you can resist the temptation when it calls.

1. Destroying some of the market’s recent winners

The most visible way that the bear market is likely to test investors’ resolve is by demolishing the stocks of companies that were not too long ago put forward as high-flying success stories. Take Moderna (NASDAQ: MRNA), for example. Its shares are down by 53.6% over the last 12 months, despite a powerful return of more than 1,430% over the last three years.

Bear markets tend to be characterized by an all-consuming swamp of pessimism. You’ve probably already seen the headlines flying around. Gas prices are still high, and everything is getting more expensive. There’s an ongoing parade of economists, portfolio managers, and famous investors predicting that everything is bound to get worse in the market and elsewhere. And there’s endless speculation about how the Federal Reserve’s rate hiking policy is bound to crater your retirement account. 

In other words, there’s not much reason to suspect that the investment thesis for buying Moderna has changed by much between the start of the bear market and now. Even so, seeing its share price in the dumps is likely to make many investors question whether they should be thinking about selling. Further losses are all but guaranteed to have an even more intense effect. Inevitably, many investors will sell, and they might be missing out on significant future growth in the process. 

2. Barraging investors with bad news

If you read the above and are now wondering whether it’s worth pulling your money out of the market entirely and waiting for conditions to improve, your resolve is being tested, and you should take a step back and think for a minute. For many companies, the negative headlines about the market or the economy simply aren’t relevant to their ability to generate revenue and compete effectively. For others, external events do indeed matter, but it’s still entirely possible that the market overreacts when it comes to adjusting share prices in response. 

In Moderna’s case, there’s not much in the way of ongoing relevant macroeconomic or geopolitical events that would affect its operations. It doesn’t sell jabs to people directly, so trends like inflation leading to consumer wallets being under pressure don’t matter. Likewise, it isn’t directly subjected to rising costs from the prices of major commodities going haywire, like lumber or oil. Management is overtly optimistic about the coming quarters, even when taking the economy’s issues into account.

Nor are the very general predictions of market observers likely to appreciate the unique tailwinds that it has over the next five years and beyond — for example, its ability to rapidly develop and manufacture updated vaccines in response to viral variants.

That won’t stop the bear market from peppering investors with gloom and doom about the economy and its effect on businesses, though. Tuning out the noise is a great way to keep your resolve intact.

Take the current narrative about rising interest rates being a death knell for investing in growth stocks as an example. The argument is that higher borrowing costs will make it much harder to grow. Now, think about Moderna, a company that in 2021 had free cash flow (FCF) of more than $13.3 billion, operating expenses of around $2.5 billion, and in the most recent quarter reported cash holdings of around $18 billion. It isn’t a business that’ll need to borrow money anytime soon.

3. Creating narratives that imply old investing rules and strategies no longer apply

Along with the regular flow of negative news, bear markets often see new and convincing narratives that explain how things in the market have changed such that investors who refuse to update their approach will be imminently devastated. It’s true that successful short-term strategies need to adapt to shifting conditions. But if you’re investing mostly for the long term (and you should be), the chances are very good that simply holding onto your shares is a better option than adopting a radically different approach. 

So don’t get rattled by the narratives. Think about whether your original investing thesis for the stock is still true, and hang onto your shares even when the bear market is trying to tell you that it isn’t a good idea.

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

The post Prediction: This bear market will test your resolve in (at least) 3 ways appeared first on The Motley Fool Australia.

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Alex Carchidi 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 Amazon. The Motley Fool Australia has recommended Amazon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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

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Owners of Westpac Banking Corp (ASX: WBC) shares might be in for a good run, with one top broker predicting the bank will pay out 10% more in dividends in financial year 2023 than it did in financial year 2021.

It’s also tipping the bank will up its full-year payouts by 5.9% in financial year 2022.

Right now, Westpac shares are swapping hands for $21.93, 0.16% lower than they were at Friday’s close.

For context, the S&P/ASX 200 Index (ASX: XJO) is also down 0.06% today while the S&P/ASX 200 Financials Index (ASX: XFJ) has slumped 0.22%.

So, what could the future hold for the big four banking giant’s dividends? Let’s take a look at what Morgan Stanley thinks.

Westpac dividends and share price to lift: broker

As one of the ASX 200’s biggest bank shares, Westpac is known to be a relatively strong dividend payer. Indeed, it’s been paying investors a portion of its profits since the early 1980s.

And its full-year payouts could be gearing up to leap over the coming two financial years.

While most ASX companies wrap up their financial years at the end of June, Westpac’s doesn’t end until 30 September.

That means the last full-year payout we have to reference is that of financial year 2021, which saw the bank offering $1.18 of dividends per share.

With that in mind, Morgan Stanley thinks the market could be in for a surprise when Westpac releases its full-year earnings in November.

The broker expects Westpac to offer $1.25 per share in dividends this financial year, as my Fool colleague James reports.

Its full-year dividends are tipped to rise once more in financial year 2023 to reach $1.30. That’s a whopping 10.1% higher than that of financial year 2021.

Though, that’s still less than the $1.74 offered to shareholders in financial year 2019.

Morgan Stanley has also slapped Westpac’s shares with a $22.30 price target and an outperform rating.

The post Own Westpac shares? This broker expects the bank’s dividends to surge 10% by FY23   appeared first on The Motley Fool Australia.

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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 recommended Westpac Banking Corporation. 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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Block Inc (ASX: SQ2) shares are posting a strong comeback today after selling off sharply on Friday.

Block shares closed 7.8% lower on Friday following the release of the ASX buy now, pay later (BNPL) share’s second quarter financial results.

Among those results, the global payments provider, which acquired Afterpay in January, reported a 6% year-on-year fall in total quarterly revenue of US$4.4 billion.

While quarterly gross profit was up 29% year on year to US$1.47 billion, Block recorded net loss of US$208 million and said it expected growth to slow in the current quarter (Q3).

While that saw investors hit the sell button on Friday, in trade today, Block shares are up 6.01% to $125.41.

Can Block maintain growth and profitability?

Addressing the outlook for Block shares in a post-Q2 earnings call, Block CFO Amrita Ahuja said the company will significantly scale back planned growth investments in light of potential uncertainties ahead.

According to Ahuja (lightly edited for readability):

Moving to our planned investments for the third quarter and remainder of the year, while gross profit trends have been healthy through July, we recognise the importance of exercising discipline with our investments as we enter a period of potential uncertainty.

As a result, we’re reducing our planned investments for the full year 2022 by US$250 million. We pulled back on experimental and less efficient go-to-market spend, adjusted risk loss estimates based on more current trends, and slowed the pace of hiring.

Responding to a question from Tien-Tsin Huang from JP Morgan regarding how Block is balancing growth efforts and profitability, Ahuja said:

We are continuing to invest given the vast market opportunities we see. But we also recognise that the environment has changed and we’re prepared to adapt to uncertainty and maintain discipline by pulling back on some of the discretionary operating expenses, particularly those that are less efficient.

So, our actions today show that we’re also focused on demonstrating greater near-term profitability as we head into what could be a more volatile macro environment.

In only the first six months here this year, we pulled back on our full year opex [operational expenditure] by 8%, or US$450 million, US$250 million of which came today across three primary areas: sales and marketing; risk loss, which as you know is both an input and an output for us; and hiring.

This shows how we can dial our knobs in real time and be disciplined.

How have Block shares been tracking?

Block shares have struggled this year, alongside the wider BNPL industry.

Since listing on the ASX on 20 January, the Block share price is down 29%. For context, the S&P/ASX 200 Index (ASX: XJO) is down 5% over that same period.

The post ‘The environment has changed’: Can Block shares maintain growth AND profitability into 2023? appeared first on The Motley Fool Australia.

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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 positions in and has recommended Block, Inc. The Motley Fool Australia has positions in and has recommended Block, Inc. 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 Qantas Airways Ltd (ASX: QAN) share price is in the red today, down 1.19%.

Qantas shares are lower in early afternoon trade but the company is not the only ASX travel share down so far today. The Flight Centre Travel Group Ltd (ASX: FLT) share price is sliding 1.79% while Webjet Ltd (ASX: WEB) shares are descending 1.55%. The S&P/ASX 200 Index (ASX: XJO) is also down slightly, 0.07% lower at the time of writing.

Let’s take a look at what is going on at Qantas.

Managers asked to work as ground handlers

Qantas is recruiting 100 managers and executives to work as ground handlers, The Australian reported.

The staff are to work in roles including sorting baggage and moving luggage onto the tarmac for up to three months.

In a memo to staff cited by the publication, chief operating officer Colin Hughes said:

During your time in the contingency program, you’ll be an embedded resource within the ground handling partners.

This means you’ll receive a roster, be scheduled to operate and be supervised and managed in the live operations by our grand handling partners.

In a market update in late June, Qantas revealed it has hired more than 1,000 operational team members and hundreds more contact centre staff since April. Qantas has received plenty of publicity in recent weeks amid ongoing flight cancellations and staff shortages.

Meanwhile, a Qantas plane was grounded on Sunday after air traffic control received reports of “flames and smoke” coming from the engine.

However, engineers later determined the emergency to be a false alarm, according to Nine. A Qantas spokesperson told the publication:

The pilots followed procedure and shut down the engine as a precaution after being alerted by the control tower while taxiing.

Engineers have inspected the aircraft and cleared it to return to service.

Last week, analysts at UBS maintained a buy rating on the Qantas share price with a $6.55 price target. This represents an almost 44% upside on the current share price of $4.56.

The broker sees value in the company’s shares if the economy avoids a recession.

Qantas share price snapshot

The Qantas share price has slipped less than 1% in the past year while it is down more than 9% year to date. In comparison, the ASX 200 benchmark has lost 7% in the past year.

Qantas has a market capitalisation of about $8.58 billion based on the current share price.

The post Qantas share price descends as management recruited for ground-handling work appeared first on The Motley Fool Australia.

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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 recommended Flight Centre Travel Group Limited and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Yet again, the Mesoblast Limited (ASX: MSB) share price will remain frozen on Monday.

This comes as the company requested that its shares be voluntarily suspended from trading, effective before market open today.

The biotech company’s shares last exchanged hands at 93 cents apiece on Wednesday 3 August.

What’s the latest with the Mesoblast share price?

Investors will need to wait a little longer before the Mesoblast share price reopens for trading on the ASX.

According to the release, the company is still undergoing its capital raising and needs more time to complete the process.

Mesoblast shares have rebounded strongly in recent times after extreme volatility hit the broader market from early June to July.

In the past month, the company’s shares are up 12%.

Mesoblast has asked that the voluntary suspension remain in place until Wednesday 10 August or following the release of the announcement, whichever comes first.

How much does Mesoblast have in the bank?

No details have been given in regards to what Mesoblast is intending to raise the funds for.

However, we do know from its quarterly report that the company had US$60.4 million in cash as of 30 June.

In addition, there was also US$40 million available to be drawn down from its existing financing facilities, subject to conditions.

With net cash used from operating activities of US$13.8 million, Mesoblast has an estimated 7.2 quarters of funding available

Mesoblast rexlemestrocel-L update

In mid-July, Mesoblast provided results from its phase 3 trial of rexlemestrocel-l in 565 patients suffering from chronic heart failure.

Management noted it received positive results from patients with class II/III chronic heart failure with reduced ejection fraction.

In particular, a single dose of rexlemestrocel-L along with standard of care reduced the incidence of heart attacks or strokes by 65%.

Furthermore, a 68% reduction was recorded in the rate of recurrent hospitalisations from non-fatal heart attacks or strokes compared with controls.

About the Mesoblast share price

Over the past 12 months, Mesoblast shares have tumbled by 53% following weakened investor sentiment.

Mesoblast has a price-to-earnings (P/E) ratio of 2.16 and commands a market capitalisation of roughly $604.92 million.

The post Why is the Mesoblast share price still not moving today? appeared first on The Motley Fool Australia.

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More reading

• These are the 10 most shorted ASX shares
• Why is the Mesoblast share price on ice today?
• Why did the Mesoblast share price rocket 54% in July?
• 3 ASX All Ordinaries shares leaping 10% or more today
• Why JB Hi-Fi, Mesoblast, Pendal, and Woodside shares are pushing higher

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

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The Medical Developments International Ltd (ASX: MVP) share price is drifting deep into the red in early trade on Monday.

At the time of writing, the share trades 17% lower at $1.99 following the release of a company announcement.

What did Medical Developments announce?

The company advised it has successfully completed the institutional components of its planned fully-underwritten $30 million capital raising.

The 1 for 9.5 pro-rata entitlement offer raised $5 million in tranches of an institutional placement and entitlement offer. The company reported good support from existing shareholders.

Meanwhile, the underwritten placement raised approximately $15 million, with a total of 7.5 million new shares issued.

Medical Developments announced the funding round last week. It plans to put the funds towards the company’s expansion into Europe, the Australian ambulance sector, and investment directly into the business.

It now intends to raise a further $10 million through a retail entitlement offer. The offer will open on 11 August and run until 25 August 2022.

Speaking on the announcement, Medical Developments chair Gordon Naylor said:

I would like to thank our shareholders for their support and welcome our new investors onto the MVP share register. Their strong funding support will enable our investment to continue executing on our European and Australian growth strategies.

Further developments will likely be released closer to 25 August when the retail entitlement offer is set to close.

In the last 12 months, the Medical Developments share price is down more than 52%, and 60% this year to date.

The post Here’s why the Medical Developments share price is sinking 17% on Monday appeared first on The Motley Fool Australia.

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More reading

• Medical Developments share price halted amid ‘significant near-term opportunities’

Motley Fool contributor Zach Bristow 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 Medical Developments International Limited. The Motley Fool Australia has recommended Medical Developments International Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Novonix Ltd (ASX: NVX) share price is down in morning trade on Monday despite no news having been released by the company.

Right now, stock in the battery materials and technology supplier is swapping hands for $3.05 apiece after slumping as low as $2.92 in early trade.

For context, the S&P/ASX 200 Index (ASX: XJO) is also in the red today, falling 0.28%, while the S&P/ASX 200 Information Technology Index (ASX: XIJ) has slipped 0.36%.

So, what’s going wrong for the Novonix share price today? Let’s take a look.

What’s weighing on the Novonix share price?

Despite the company’s silence, the Novonix share price is handing back some of its recent gains on Monday.

The stock surged a whopping 13.65% on Friday to mark its highest closing price in eight weeks at $3.08. Like today, there was no news at the time to explain its rise.

However, Novonix’s exceptional day in the green on Friday might explain the losses it’s posting today. It could be a simple case of profit-taking.

And while the stock appeared to overcome a near-two-month lull last week, it’s still a long way from its recent peaks.

The Novonix share price reached an all-time high of $12.47 in December 2021. It’s currently trading 76% lower than it was back then.

But additional respite (or further falls) could come soon enough.

The market expects to hear from the ASX 200 tech stock later this month when it releases its annual report. That’s set to drop on 25 August.

The post Why is the Novonix share price having such a lousy start to the week? appeared first on The Motley Fool Australia.

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More reading

• These 3 ASX tech shares had a cracking day on the ASX today
• Here are the top 10 ASX 200 shares today
• Why is the Novonix share price leaping 12% on Friday?
• Here are the top 10 ASX 200 shares today
• Why did the Novonix share price notch up a 24% gain in July?

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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