The BetaShares NASDAQ 100 ETF (ASX: NDQ) is a popular exchange traded fund (ETF) on the ASX. However, it is not the most popular ETF covering international shares on the ASX.

That honour goes to the iShares S&P 500 ETF (ASX: IVV), closely followed by the Vanguard MSCI Index International Shares ETF (ASX: VGS).

But the NASDAQ 100 ETF is still an index fund. It covers the 100 shares on the US’s NASDAQ-100 (INDEXNASDAQ: NDX). The NASDAQ is well-renowned for hosting some of the largest tech shares on the US market.

While ‘old school’ companies like Berkshire Hathaway, Coca Cola, and Bank of America list on the New York Stock Exchange, the NASDAQ hosts the likes of Apple, Microsoft, Alphabet, Amazon.com, and Tesla.

It also hosts a diverse range of other shares as well, of course. These include Palo Alto, Netflix, Costco, Adobe, Starbucks, and Airbnb.

Now, there are many, many ETFs on the ASX that cover corners of the global tech share space. Take the BetaShares Global Cybersecurity ETF (ASX: HACK). It (as you can probably guess) tracks a portfolio of cybersecurity companies.

The ETFS FAANG+ ETF (ASX: FANG) holds only 10 shares, including Apple, Alphabet, Microsoft, Meta Platforms, and Tesla.

Then there is the BetaShares Cloud Computing ETF (ASX: CLDD). It focuses on companies in the cloud computing industry, including Netflix and Salesforce.

The ETFS Morningstar Global Technology ETF (ASX: TECH) holds a diversified basket of 39 shares sourced from various corners of the global tech space.

But I prefer the BetaSahres NASDAQ 100 ETF to all of these other ASX tech ETFs.

This is for two reasons.

Why I prefer NDQ to any other ASX tech ETF

The first is sheer performance. Despite losing more than 12% over the six months to 31 July 2022, the NDQ ETF has still managed to give investors an average annual return of 20.69% over the past five years.

That runs rings around all of the other tech ETFs listed above, with the possible exception of FANG.

The FANG ETF has only been around for just over a year. But its benchmark index has reportedly returned an average of 24.6% per annum over the same period.

The second is diversification. NDQ has approximately 100 underlying holdings, far more than any of the above ETFs.

Among these 100 stocks are cybersecurity shares like Palo Alto, almost all of the shares in the FANG ETF, and cloud computing shares like Netflix.

A sector-specific ETF like HACK has its own diversification risks, seeing as all of the holdings come from the same sector.

But NDQ’s diversification risk is far lower seeing as it represents so many different underlying industries.

This diversification, together with NDQ’s superlative performance figures, is enough to convince me that I would rather have the NDQ ETF in my portfolio over any other tech-based ETF today.

The post Here’s why I prefer NDQ to these other ASX tech ETFs today appeared first on The Motley Fool Australia.

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More reading

• 3 ETFs for smart ASX investors in August
• Here are 2 ASX ETFs I would buy for 2022 and beyond
• Is the NDQ ETF a no-brainer buy right now?
• 3 high quality ETFs for ASX investors to buy today
• I think the Betashares Nasdaq 100 ETF looks like a strong buy

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Bank of America is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Sebastian Bowen has positions in Adobe Inc., Airbnb, Inc., Alphabet (A shares), Amazon, Apple, Coca-Cola, Costco Wholesale, Microsoft, Netflix, Starbucks, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Adobe Inc., Airbnb, Inc., Alphabet (A shares), Alphabet (C shares), Amazon, Apple, BETA CYBER ETF UNITS, BETANASDAQ ETF UNITS, Berkshire Hathaway (B shares), Costco Wholesale, ETFS Morningstar Global Technology ETF, Microsoft, Netflix, Starbucks, Tesla, and Vanguard MSCI Index International Shares ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), long January 2024 $420 calls on Adobe Inc., long January 2024 $47.50 calls on Coca-Cola, long March 2023 $120 calls on Apple, short January 2023 $200 puts on Berkshire Hathaway (B shares), short January 2023 $265 calls on Berkshire Hathaway (B shares), short January 2024 $430 calls on Adobe Inc., short March 2023 $130 calls on Apple, and short October 2022 $85 calls on Starbucks. The Motley Fool Australia has positions in and has recommended BETA CYBER ETF UNITS and BETANASDAQ ETF UNITS. The Motley Fool Australia has recommended Adobe Inc., Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Berkshire Hathaway (B shares), Netflix, Starbucks, Vanguard MSCI Index International Shares ETF, and iShares Trust – iShares Core S&P 500 ETF. 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 ASX welcomed its newest exchange-traded fund (ETF) to its boards today. ETFs have been growing in both popularity and volume for years now.

Over the past 12 months, we have welcomed the BetaShares Online Retail and E-Commerce ETF (ASX: IBUY), the ETFS Hydrogen ETF (ASX: HGEN), and the BetaShares Crypto Innovators ETF (ASX: CRYP) to the ASX.

And today, the BetaShares Metaverse ETF (ASX: MTAV) joined this list.

Metaverse ETF joins the ASX

Yes, as we covered this morning, this brand spanking new ETF has just floated on the ASX. As its name implies, it invests in a basket of global ‘metaverse’ shares.

As my Fool colleague Tony noted in his coverage, the metaverse is the term that refers to the idea that the internet will morph into a “massive unified virtual world”.

It has been a term most associated with the social media giant Meta Platforms (NASDAQ: META), which of course used to be known as Facebook.

So it perhaps will come as no surprise that Meta stock is one of the largest holdings in this new ETF. But other well-known shares like Roblox, NVIDIA, Apple and Disney are also present in its 32-share strong portfolio.

So how did the BetaShares Metaverse ETF perform on its first day on the ASX?

Well, MTAV units only began trading at 12 noon today. The ETF debuted at a unit price of $10.56 each. As of market close, the ETF slipped slightly and finished the day at a price of $10.53, a fall of 0.28%.

So nothing too dramatic there. But there will probably be no investors with FOMO either.

The BetaShares Metaverse ETF charges a management fee of 0.69% per annum or $69 per year for every $10,000 invested.

The post How did the BetaShares Metaverse ETF perform on its ASX debut? appeared first on The Motley Fool Australia.

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• 5 tech stocks sending the Nasdaq higher on Wednesday
• How to buy ASX shares exposed to the metaverse
• Why are ASX 200 tech shares having such a lousy start to the week?
• Headwinds will slow growth for Meta; Should investors sell now?

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen has positions in Apple, Meta Platforms, Inc., Nvidia, and Walt Disney. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Apple, Meta Platforms, Inc., Nvidia, Roblox Corporation, and Walt Disney. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2024 $145 calls on Walt Disney, long March 2023 $120 calls on Apple, short January 2024 $155 calls on Walt Disney, and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Apple, Meta Platforms, Inc., Nvidia, and Walt Disney. 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) slipped ever so slightly on Thursday after major commodity prices tumbled overnight. The index was 0.01% lower at 6,974.90 points as of the market’s close.

The slip came despite a decent performance by tech shares. S&P/ASX 200 Information Technology Index (ASX: XIJ) rose 1.9% today on the back of lower US bond yields. US 10-year yields fell to around 2.7% while US 2-year yields to near 3.07%.

On the other hand, the S&P/ASX 200 Energy Index (ASX: XEJ) plummeted 2.2% in today’s session, likely due to lower oil prices.

Brent crude oil slumped 3.7% to US$96.78 a barrel overnight while the US Nymex crude price slipped 4% to US$90.66 a barrel.

The S&P/ASX 200 Materials Index (ASX: XMJ) was the market’s next worse performer, plunging 1% on Thursday after iron ore futures fell 3.8% to US$110.38 a tonne.

At the end of today’s session, seven of the ASX 200’s 11 sectors were trading higher.

But which stocks outperformed all their peers to be crowned today’s best improver? Let’s take a look.

Top 10 ASX 200 shares countdown

Today’s top performing ASX 200 share is none other than bookmaker Pointsbet Holdings Ltd (ASX: PBH). Find out what the stock has been up to lately here.

Today’s biggest gains were made by these ASX shares:

ASX-listed company	Share price	Price change
Pointsbet Holdings Ltd (ASX: PBH)	$3.18	11.58%
Imugene Limited (ASX: IMU)	$.255	10.87%
Life360 Inc (ASX: 360)	$4.69	9.58%
Block Inc (ASX: SQ2)	$126.08	8.9%
Bega Cheese Ltd (ASX: BGA)	$3.73	6.88%
Megaport Ltd (ASX: MP1)	$9.13	4.94%
AMP Ltd (ASX: AMP)	$1.17	4.93%
Telix Pharmaceuticals Ltd (ASX: TLX)	$7.75	4.45%
Virgin Money UK CDI (ASX: VUK)	$2.69	4.26%
Domain Holdings Australia Ltd (ASX: DHG)	$3.74	4.18%

Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why is the Pointsbet share price up 8% on the ASX today?
• First mover: CBA share price rises amid interest rate changes
• 3 ASX 200 shares smashing new 52-week highs on Thursday
• Why is the Block share price charging 10% higher on Thursday?

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 Block, Inc., Life360, Inc., MEGAPORT FPO, and Pointsbet Holdings Ltd. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool Australia has recommended MEGAPORT FPO and Pointsbet Holdings 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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The Bitcoin (CRYPTO: BTC) price is up 1% over the past 24 hours.

The world’s top crypto is currently worth US$23,084 (AU$3,169).

Bitcoin kicked off the month trading for US$23,289, meaning it’s currently down a fraction in August after posting a gain of 22% in July.

But the Bitcoin price, as you’re likely aware, tends to move quickly. In fact, just a few hours from the time of writing, the Bitcoin price was in the green for August, trading at US$23,579, CoinMarketCap tells us.

Commenting on the recent rally, eToro’s market analyst and crypto expert Simon Peters said, “While still a way to go to recover losses of H1, cryptoassets such as Bitcoin are witnessing a mini revival.”

What’s influencing the Bitcoin price?

It’s not just the Bitcoin price that rallied in July.

Most risk assets, like high-growth tech shares, enjoyed a strong month, as witnessed by the 12% gain posted by the NASDAQ and the 15% gain here in Australia on the S&P/ASX All Technology Index (ASX: XTX).

“We’re very much seeing that the syncing up with equity markets is continuing,” Peters said. “July saw stocks, particularly tech and other higher-risk-profile equities surge back. Much of the effects of inflation and rate hikes now appears priced in, with markets sanguine about recession worries.”

The rising impact of institutional investors

The greater presence of institutional investors in crypto markets looks to be adding to the correlation between the Bitcoin price moves and other risk assets.

According to Peters:

Institutions have treated crypto holdings in much the same way as these equities, which is why there’s greater correlation now than in the past. As those big institutions move back into the space the crypto investors could see valuations tick back to better levels.

So, why has the Bitcoin price been retracing over the past few hours?

Our best guess is that futures on the NASDAQ have also turned moderately negative, indicating a likely retrace for risk assets when US markets open tomorrow (overnight Aussie time).

The post Bitcoin price dips in August after soaring 22% in July. What’s going on? appeared first on The Motley Fool Australia.

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More reading

• Bitcoin price dips. Is Ethereum on track to dethrone the top crypto?
• Why El Salvador is doubling down on Bitcoin despite the 2022 price crash
• The Bitcoin price is leaping 10% higher today. What’s going on?
• Bitcoin or Cardano: which crypto is most widely held among Aussies in 2022?
• Why top cryptocurrencies Bitcoin, Ethereum, and Dogecoin are slumping today

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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There are some good-looking ASX growth shares to consider in August, in my opinion.

Share markets have been recovering in recent weeks, but there are plenty of shares with prices still noticeably lower than they were at the start of the year.

We can’t turn back time to mid-June to when ASX share prices were generally lower across the board, but it’s still possible to invest in quality businesses at attractive prices.

I wish that I could invest in everything at once, but we have to choose what to do with the investment money we have.

While plenty of other ASX growth shares could also be attractive at this level, in this article I’m going to write about these two interesting ideas:

iShares S&P 500 ETF (ASX: IVV)

This exchange traded fund (ETF) enables its investors to invest in 500 of the largest and most profitable businesses listed in the US.

Many Australian investors are focused on ASX shares, or perhaps ETFs targeted at the S&P/ASX 200 Index (ASX: XJO) or S&P/ASX 300 Index (ASX: XKO). So, it could be a good thing to add diversification by investing in some of the leading global tech shares.

While there are 500 businesses in this portfolio, there are a few pretty sizeable weightings of the ETF: Apple (7.1%), Microsoft (6%), Alphabet (3.9%), Amazon (3.4%), Tesla (2.2%), and Berkshire Hathaway (1.5%).

At today’s lower price – the IVV ETF is down 10% in 2022 – I think being able to buy the underlying group of businesses at this price is attractive.

One of the best things about this ETF is its extremely low management fee of just 0.04%.

Australian Ethical Investment Ltd (ASX: AEF)

This ASX growth share is a leading fund manager which specialises in offering investment products that are meant to align with investors’ values and also provide competitive returns.

It is seeing investors add hundreds of millions of dollars into the fund manager each quarter. A key part of that fund flow is superannuation. The business is benefiting from the regular contributions of the mandatory superannuation guarantee.

Over FY22, Australian Ethical saw $0.94 billion of net inflows.

Another positive factor for the business is that its customer numbers keep growing. It revealed that 4,794 new customers joined Australian Ethical during the three months to June 2022. This was an increase of 4% from 31 March 2022.

It has also executed a successor fund transfer deed with Christian Super, where Christian Super members will be transferred into Australian Ethical Super. At 30 June 2022, Christian Super had 30,000 members and $1.96 billion of funds under management (FUM). This could be a boost for the ASX growth share’s FUM.

I think that Australian Ethical will be able to grow its FUM as it grows its customer numbers, receives ongoing net inflows, and benefits from scale.

The post I rate these top ASX growth shares as buys in August appeared first on The Motley Fool Australia.

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More reading

• 3 wonderful ETFs for ASX investors to buy today
• 3 quality ETFs for ASX investors in July
• Australian Ethical shares wobble amid 9% fall in funds under management
• Here are 3 ETFs for ASX investors to buy in FY23

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. 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 Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Australian Ethical Investment Ltd., Berkshire Hathaway (B shares), Microsoft, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), long March 2023 $120 calls on Apple, short January 2023 $200 puts on Berkshire Hathaway (B shares), short January 2023 $265 calls on Berkshire Hathaway (B shares), and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Australian Ethical Investment Ltd., Berkshire Hathaway (B shares), and iShares Trust – iShares Core S&P 500 ETF. 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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Are you looking for exchange traded funds (ETFs) to buy?

If you are, then you may want to look at the two exciting ETFs that are listed below.

Here’s why they could be worth getting better acquainted with:

BetaShares Crypto Innovators ETF (ASX: CRYP)

The first ETF for investors to look at in August is the BetaShares Crypto Innovators ETF.

This high risk ETF could be a top option for investors that believe the crypto industry is not only here to stay, but will become a big part of the global economy in the future.

That’s because this ETF gives investors exposure to the leading players in the cryptocurrency industry. These are the mining equipment manufacturers, trading platform providers, and cryptocurrency miners.

Among the shares you’ll be owning a slice of are crypto mining hardware manufacturer Canaan, crypto trading platform Coinbase, crypto bank Silvergate, and crypto mining company Riot Blockchain.

BetaShares Global Cybersecurity ETF (ASX: HACK)

A second exciting ETF for ASX investors to look at in August is the BetaShares Global Cybersecurity ETF.

This ETF could be a good option for investors that are wanting exposure to a growing cybersecurity industry.

Having exposure to the industry could be a smart move given that spending on cybersecurity services has been tipped to increase materially in the coming years as more infrastructure moves online and cyber attacks become more prevalent.

Among the companies included in the HACK ETF are Accenture, Cisco, Cloudflare, Crowdstrike, Fortinet, Okta, and Splunk. All these companies look well-placed to benefit from increasing demand for their services over the next decade.

The post 2 exciting ETFs for investors to buy in August appeared first on The Motley Fool Australia.

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• 2 excellent ETFs for ASX investors in August
• Does the HACK ETF pay dividends?
• 3 high quality ETFs for ASX investors to buy today
• 3 highly rated ETFs for ASX investors to buy now
• Here’s why I think this cybersecurity ETF is a top buy in July

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 BETA CYBER ETF UNITS and Betashares Crypto Innovators ETF. The Motley Fool Australia has positions in and has recommended BETA CYBER ETF UNITS. 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 Wesfarmers Ltd (ASX: WES) share price is currently in the green amid news that Australian Pharmaceutical Industries (API) has a new boss.

Wesfarmers shares are up around 0.1% and the S&P/ASX 200 Index (ASX: XJO) is also up around 0.1%.

Wesfarmers Health is the new division of the company which will be the home of businesses within the space of health, beauty and wellbeing.

According to reporting by the Australian Financial Review, Wesfarmers Health boss Emily Amos is now in charge of running API after Richard Vincent stepped down.

Vincent has reportedly decided to move into an advisory role, so Wesfarmers Health will still be able to benefit from this.

API was the first move by Wesfarmers into the health sector, but Wesfarmers leader Rob Scott said that it will look at any further acquisitions through a “consumer lens” according to the AFR. Beauty and skincare products, as well as digital health, could be areas of interest.

Over time, this segment could have a growing influence on the Wesfarmers share price.

What are some of the positives of moving into healthcare?

Wesfarmers is attracted to healthcare because it’s “an important, large sector with long-term growth tailwinds”. From 2019-2020 to 2060-61, the population aged 65 and over will double to 8.9 million.

The company says that there is increasing demand for health, beauty and wellbeing products and services. Wesfarmers noted that customers are becoming more interested in health and wellness. There is also increased focus on preventative health measures and treatments.

Management believes that ‘data and digital’ can transform the customer journey in healthcare. There are “opportunities to leverage technology to improve health outcomes”.

Wesfarmers stated:

With strong fundamentals and the ability to leverage group capabilities, Wesfarmers Health can deliver superior returns over the long-term.

In terms of the API business, there are three segments. There’s the pharmacy distribution segment which is one of only four national full-line pharmaceutical wholesalers. Priceline is another segment, which is a leading network of franchised pharmacies and retail stores. Clear Skincare Clinics has a growing footprint in the fragmented and “high growth” non-surgical aesthetics market. It also has an expanding range of high margin own label products.

Wesfarmers share price snapshot

Over the past month, Wesfarmers shares have risen by around 8%.

The post What’s impacting the Wesfarmers share price on Thursday? appeared first on The Motley Fool Australia.

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More reading

• Why is the Wesfarmers share price beating the ASX 200 today?
• Morgans name 3 of the best ASX shares to buy in August
• ‘Recession-like levels’: Why ASX retail shares could still be in for a bumpy ride
• From Cotton On to Catch: Wesfarmers’ plans to put its acquisition back on track
• Own Wesfarmers shares? Here’s why Bunnings and Kmart are under investigation by the information watchdog

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 positions in and has recommended 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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The Appen Ltd (ASX: APX) share price is having a better day on Thursday.

And falling heavily this week, the artificial intelligence data services company’s shares are rebounding today.

In late trade, Appen’s shares are up 6% to $4.40.

Why is the Appen share price rising?

Today’s gain appears to have been driven by a couple of factors.

The first is the technology sector racing higher today following a very strong night on the tech-focused NASDAQ index.

This has led to the S&P/ASX All Technology Index rising 2.4% in afternoon trade on Thursday.

What else?

It is worth remembering that Appen’s shares have been smashed again this week following the release of a very disappointing trading update. Its shares are down 24% since the start of the week even after today’s gain.

Some investors may believe that the Appen share price had been oversold and have been picking up shares today.

Though, one broker that isn’t recommending investors jump in just yet is Macquarie. Yesterday, the broker responded to Appen’s update by downgrading its shares to an underperform rating with a reduced price target of $3.50.

This suggests potential downside of approximately 20% for investors from current levels.

The post Why is the Appen share price charging 6% higher? appeared first on The Motley Fool Australia.

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• Why Appen, Centuria Industrial, NRW, and Sayona Mining shares are pushing higher
• Why Appen, ASX, Credit Corp, and Newcrest shares are dropping today
• When were insiders last buying up Appen shares?
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• Appen share price sinks 25% as earnings tank amid uncertain outlook

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 Appen Ltd. 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 Cobre Ltd (ASX: CBE) share price is climbing again today and has lifted more than 600% in a month.

This ASX mining share is rising 1.39% today. In this week alone, the company’s share price has exploded 100%.

Let’s take a look at what Cobre announced today.

$7 capital raise attracts ‘significant demand’

Cobre has completed a $7 million capital raise at 15 cents a share to sophisticated and institutional investors.

This follows the company entering a trading halt yesterday ahead of news of this capital raise.

Cobre said the placement attracted “significant demand” from current and new sophisticated international and domestic institutional investors.

Shares were offered at a 16.7% discount to the closing price on 2 August.

The funds will be used to fast track exploration at the Kalahari Copper Belt in Botswana. Cobre said the exploration will be on the tenement package held by Kalahari Metals Limited (KML). Cobre signed a share purchase deed to acquire 100% of Kalahari Metals, a UK company, in June.

The placement involves two stages, the second of which will require shareholder approval at a meeting later this year. This second stage involves the issue of 9.8 million ordinary shares at 15 cents per share to the company’s largest shareholder, Metal Tiger PLC.

Commenting on the news, executive chairman and managing director Martin Holland said:

I would like to extend a vote of thanks for the support from existing and new shareholders into this placement which we see as a vote of confidence in the strategy the board is developing to fast track exploration with the aim to unlock this new potential discovery in Botswana.

Earlier this week, Cobre reported significant copper mineralisation at the project.

Cobre share price snapshot

Cobre’s shares have jumped 22% in a year, while it has surged 94% in the year to date.

For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) has lost more than 16% in the last year.

Cobre has a market capitalisation of nearly $30 million based on its current share price.

The post Exploding 600% in a month, what is going on with the Cobre share price? 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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The TechnologyOne Ltd (ASX: TNE) share price is edging higher on Thursday.

In afternoon trade, the enterprise software company’s shares are up 0.5% to $12.37.

This means the TechnologyOne share price is now up 21% over the last six months.

Can the TechnologyOne share price keep rising?

The good news is that one leading broker believes there’s room for the TechnologyOne share price to keep rising from here.

According to a note out of Bell Potter, its analysts have retained their buy rating and lifted their price target on the company’s shares to $14.25.

This price target implies potential upside of approximately 15% for investors over the next 12 months.

What did the broker say?

Bell Potter remains confident in TechnologyOne’s growth outlook. Particularly given the company’s plan to increase prices in line with inflation.

The price rises being put through this half are greater than in the first half which will provide a further boost to both NRR and revenue in H2. Notably the majority of customer renewals – or anniversaries as the company calls them – fall in the second half so this will provide an even greater boost relative to the first half.

In light of this, the broker believes the company is well-placed to deliver on its guidance in FY 2022.

We continue to forecast strong revenue growth of 16% in FY22 and both the strong NRR in 1HFY22 and the even greater price rises being put through in 2HFY22 give us confidence this forecast will be achieved. We also continue to forecast PBT of $112.0m in FY22 which equates to growth of 14% and is therefore consistent with the guidance of 10-15% growth.

It is also worth noting that Bell Potter believes there “is potential for the company to lift this annual target to 15-20% at some stage in the next few years.”

All in all, given this positive outlook, the broker sees plenty of value in the TechnologyOne share price at the current level and retains its buy rating.

The post Broker tips TechnologyOne share price to shoot 15% higher appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Thursday
• Broker names 2 ASX 200 shares to buy in August
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• Here’s how much $20k invested in these ASX shares 10 years ago is worth today
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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 recommended TechnologyOne 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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