The Dogecoin (CRYPTO: DOGE) price is up 1% over the past 24 hours, currently trading for 6.74 US cents.

Yet the meme crypto, with a Shiba Inu for its virtual mascot, remains down 61% year to date. And it’s down a painful 91% since hitting all-time highs of 73.76 US cents on 8 May last year.

To be sure, some crypto investors or traders are still making money while others are losing it as the Dogecoin price continues to be notoriously volatile.

How volatile?

Over the past three months, the token has traded as high as 13.19 US cents and as low as 4.97 US cents, according to data from CoinMarketCap.

Quite a spread.

But investors with the stomach to ride out these ups and downs could see 18% gains by the end of 2022.

Dogecoin price forecast to end 2022 at 8 US cents

According to 54 fintech specialists, polled by Finder in early July, the Dogecoin price will end 2022 trading for 8 US cents.

That level (an average value of their predictions) is half the value Finder’s expert panel forecast for the meme token’s year end worth back in January. At the time they predicted it would enter 2023 trading for 16 US cents.

Gavin Smith, general partner at Panxora Hedge Fund, counted among the bulls, forecast that the Dogecoin price will finish off the year worth 24 US cents.

“While DOGE was launched as a joke coin, it has subsequently developed a large and loyal community. Detractors of the token forget that community is at least as important as uniqueness in the crypto space,” he said.

Walker Holmes, co-founder and VP of MetaTope, was even more bullish. He forecast a year end price of 40 US cents, despite its lack of fundamental utility.

“DOGE has a great community but little utility. DOGE has the ability to attract a culture of content creators and creatives,” Holmes said.

But not everyone agreed.

In the bearish camp

55% of the expert panel believes that “at some point in the future” the Dogecoin price will go to zero. Only 21% said they believe the crypto will bounce back.

Swinburne University of Technology director Dimitrios Salampasis is among the experts who believe the meme token will eventually be worthless. Though he sees it almost doubling in price by year end to 12 US cents.

According to Salampasis, Dogecoin is “nothing more than a non-serious coin with no value proposition or utility. One of the many to soon disappear”.

So, at the current Dogecoin price is it time to buy, sell or hold?

71% of the panel said it was time to sell, with 24% saying hold on to what you already own.

Only 4% of the panel said it was time to buy.

The post Expert panel slashes 2022 outlook for Dogecoin price. Here’s why appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Dogecoin price could more than double by the end of 2022: expert panel
• Why top cryptocurrencies Bitcoin, Ethereum, and Dogecoin are slumping today
• 3 cryptos to avoid no matter what
• Did Elon Musk’s comments support or hurt meme tokens?
• Why Bitcoin, Ethereum, and Dogecoin are falling 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 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.

from The Motley Fool Australia https://ift.tt/q60O352

What a tease this Thursday has been from the S&P/ASX 200 Index (ASX: XJO). Today, the ASX 200 initially opened with strength, rising as high as 7,021 points.

But this turned out to be short-lived since the ASX 200 has given up most of those gains and is now up by just 0.1% at around 6,980 points.

But let’s not let that get us down. So instead, let’s take a look at the shares now at the top of the ASX 200’s share trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Thursday

Pilbara Minerals Ltd (ASX: PLS)

ASX 200 lithium stock Pilbara Minerals is first up this Thursday. So far today, a notable 17.73 million Pilbara shares have been bought and sold on the markets. There’s been no new news out of Pilbara today.

But, just like the ASX 200, the Pilbara share price can’t seem to make up its mind about what to do today. The company initially rose as high as $2.88 a share this morning, but has since fallen into red territory, and is now down by 0.54% at $2.78 a share.

It’s probably this volatility that has elicited the high volumes we are seeing.

Lake Resources N.L. (ASX: LKE)

It’s another ASX 200 lithium stock up next in Lake Resources. So far this Thursday, a sizeable 25.25 million Lake shares have changed owners.

It looks as though we are seeing a similar pattern with this company as well. No new news, but some bouncing around on the markets. Lake shares went as high as 94 cents this morning, but have now dipped to 88 cents, a loss worth 1.12%.

Again, it’s probably this volatility that is causing this trading volume.

Zip Co Ltd (ASX: ZIP)

Taking a break from lithium, we have buy now, pay later (BNPL) share Zip rounding out our list today. So far this Thursday, a hefty 30.45 million Zip shares have swapped hands as it currently stands.

Once again, we can probably blame volatility here. Zip hasn’t come out with any new news. But we hae seen some dramatic pricing swings with the BNPL share today. Upon market open, Zip climbed as high as $1.45 a share after closing at $1.32 yesterday, a rise worth almost 10%.

But investors seem to have gotten cold feet, given that Zip shares are now down by almost 5% at $1.26 a share. Go figure.

The post Here are the 3 most heavily traded ASX 200 shares on Thursday appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• 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?
• Zooming higher: The Zip share price is up 7%
• Why is the Kogan share price kicking goals on Thursday?

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ZIPCOLTD FPO. 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.

from The Motley Fool Australia https://ift.tt/FyqeBfR

The share price of S&P/ASX 200 Index (ASX: XJO) toll road operator Atlas Arteria Group (ASX: ALX) is lifting amid news that seemingly indicates it’s still firmly in the sights of private equity.

IFM Investors abandoned takeover talks with the company last week, saying it’s “not presently in a position to meaningfully progress a proposal”.

However, a release to the ASX today shows it’s been snapping up more of Atlas Arteria’s stock. IFM and its associates now hold a 19% stake in the ASX 200 infrastructure company.

The Atlas Arteria share price lifted to a high of $8.19 earlier today – a 5.7% gain. However, it’s slipped to trade at $8.05 right now, representing a 3.87% increase.

That’s a notably better performance than that posted by the ASX 200. The index has lifted just 0.13% at the time of writing.

Let’s take a closer look at today’s news from the ASX 200 share.

Is this ASX 200 share still a takeover target?

The Atlas Arteria share price is gaining on Thursday. It comes amid news that IFM is still buying up the company’s stock despite walking away from acquisition talks.

The pair entered discussions regarding a potential proposal in early June after IFM increased its holding in the ASX 200 company to 15%.

After a period of back and forth, IFM walked away. Though, it left the door open to future talks.

And its interest in such discussions appears to remain. Indeed, a 19% interest in the toll road operator is now in the hands of IFM and associates.

However, neither party have pointed to takeover talks since their previous discussions were put to bed.

A release to the ASX today shows IFM now holds a 9.99% relevant interest and a 9.01% economic interest in Atlas Arteria.

The last purchase made by IFM was dated today and comprised 30.7 million shares priced at $8.10 apiece. That represents around 3% of the ASX 200 company’s outstanding stock.

The post Up 4% today, could this ASX 200 share finally receive a takeover bid? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• No deal: Why this $7.8b ASX 200 share is sinking 7% today
• ASX 200 midday update: Rio Tinto drops, tech shares jump, Macquarie impresses
• 3 ASX 200 shares wielding a shield for returns: fundie
• 3 ASX shares for ‘predictability’ through tough times: expert
• Atlas Arteria share price lifts as revenue spikes 19%

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.

from The Motley Fool Australia https://ift.tt/SFv8ihO

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is fighting hard to stay in positive territory. At the time of writing, the benchmark index is up 4 points to 6,980 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

Creso Pharma Ltd (ASX: CPH)

The Creso Pharma share price is down 11% to 4.35 cents. This morning this cannabis company announced that it has received firm commitments for a $7 million placement at a discount of 4 cents per share. Management intends to use the funds to progress further expansion into the US with its pending acquisition target, Sierra Sage Herbs.

Endeavour Group Ltd (ASX: EDV)

The Endeavour share price is down 3% to $7.79. Investors have been selling this drinks company’s shares after it was the subject of a broker note out of UBS. Its analysts have downgraded the company’s shares to a sell rating with a $7.20 price target. UBS feels that Endeavour’s shares are overvalued at current levels.

Orica Ltd (ASX: ORI)

The Orica share price is down 9% to $15.64. This has been driven by the commercial explosives company announcing the successful completion of a $650 million equity raising to fund a major acquisition. Orica is acquiring geospatial tools manufacturer Axis Mining Technology in a deal worth up to $350 million. Orica raised the funds at a discount of $16.00 per new share.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is down 2.5% to $31.68. Investors have been selling Woodside and other energy shares on Thursday after oil prices pulled back overnight. This was driven by higher than expected oil and gasoline inventories in the US. The S&P/ASX 200 Energy index is down 2% this afternoon.

The post Why Creso Pharma, Endeavour, Orica, and Woodside shares are dropping appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Orica share price plummets 10% following successful cap raise
• 2 reasons why I’d pick Woodside shares over Santos
• 5 things to watch on the ASX 200 on Thursday
• Orica share price in the freezer amid acquisition and $650m cap raise
• 3 ASX 200 shares rocking new, multi-year highs on Tuesday

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.

from The Motley Fool Australia https://ift.tt/wVsYgWP

It hasn’t been a great day so far for the Fortescue Metals Group Limited (ASX: FMG) share price this Thursday. At the time of writing, Fortescue shares have lost 1.33% and are going for $17.78 a share. That stands in stark contrast to the S&P/ASX 200 Index (ASX: XJO), which is currently up 0.07% at under 7,000 points.

But zooming out and the picture looks a little rosier for Fortescue shares. The iron ore miner is still up a robust 4.86% over the past month. Saying that, the Fortescue share price is also down around 4.2% over just the past five trading days. So things have been choppy for this mining giant.

Amid all of this, many investors might be wondering where the Fortescue share price is heading next. After all, Fortescue has been one of the best performing ASX 200 blue-chip shares over the past five years, largely thanks to its eye-watering gain of more than 200% over this period.

So what do the next 12 months hold in store for Fortescue shares?

Is the Fortescue share price a buy or a sell today?

Well, unfortunately for optimistic investors out there, there are a few ASX brokers that aren’t too keen on Fortescue shares right now.

As my Fool colleague James covered earlier this week, ASX broker Morgans has recently maintained a hold rating on Fortescue shares, with a cut share price target of $17.40 for the next 12 months.

That essentially implies that investors won’t see much share price upside at all (albeit with no downside either) over the coming year. Here’s what Morgans said:

Despite recent share price weakness, we believe FMG is still trading around fair value and will look for further volatility before considering our investment view. We do see potential for the current volatility to push FMG into oversold territory.

More ASX brokers weigh in

But sadly, that’s about as good as it gets for broker opinions on the miner. We also looked at another broker in Goldman Sachs. Goldman has recently retained its sell rating on Fortescue shares.

Dramatically, this broker reckons Fortescue shares are heading as low as $12.70 over the coming year, which would be a loss of almost 30%. Goldman cites Fortescue’s far higher current valuation compared to other ASX mining giants like BHP Group Ltd (ASX: BHP) right now as its reasons for being so bearish.

Another broker in Citi isn’t as bearish as Goldman. But, as my Fool colleague Bronwyn looked at the other day, it still has a hold rating on Fortescue shares today.

So all in all, it seems there is more than one ASX broker who isn’t wild about the Fortescue share price where it currently stands. No doubt investors won’t be too pleased by these assessments. But we shall have to see who proves to be correct.

In the meantime, the current Fortescue Metals share price gives this ASX 200 mining share a market capitalisation of $54.74 billion, with a trailing dividend yield of 16.70%.

The post Up 5% in a month, is the current Fortescue share price a buy or a sell? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• ‘World’s greatest concern’: Can Fortescue really help the planet AND its profit margin?
• Is the iron ore price entering a bear market?
• Why Appen, Credit Corp, Fortescue, and Santos shares are dropping
• Why is the Fortescue share price sliding on Tuesday?
• What brokers are saying about the Fortescue share price in August

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has 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.

from The Motley Fool Australia https://ift.tt/EQGzcZU

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has given back the majority of its intraday gains but remains in positive territory. At the time of writing, the benchmark index is up 0.1% to 6,984 points.

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

Appen Ltd (ASX: APX)

The Appen share price is up 5% to $4.37. This is despite there being no news out of the artificial intelligence data services company. However, Appen’s shares have been hammered this week following the release of a disappointing update. Some investors may believe they had been oversold and are buying them today.

Centuria Industrial REIT (ASX: CIP)

The Centuria Industrial share price is up 3% to $2.95. This follows the release of the industrial property company’s full year results. Centuria Industrial reported a 22% increase in funds from operations (FFO) to $111.7 million and FFO per share of 18.2 cents. The latter was in line with its upgraded guidance.

NRW Holdings Limited (ASX: NWH)

The NRW share price is up 10% to $2.11. This was driven by the release of an update on this engineering company’s full year results. NRW revealed that it expects to report revenue of $2.4 billion and operating earnings of $157 million in FY 2022. The latter is up from its previous guidance range of $150 million to $155 million.

Sayona Mining Ltd (ASX: SYA)

The Sayona Mining share price is up 5% to 20.5 cents. Investors have been buying this lithium developer’s shares after it revealed that it is accelerating the restart of its North American Lithium operation. Management advised that it is now targeting first production during the first quarter of 2023.

The post Why Appen, Centuria Industrial, NRW, and Sayona Mining shares are pushing higher appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Sayona share price lights up on ‘rapid progress’ toward production
• 5 things to watch on the ASX 200 on Thursday
• Why Appen, ASX, Credit Corp, and Newcrest shares are dropping today
• When were insiders last buying up Appen shares?
• Experts name 2 quality ASX dividend shares to buy with 5%+ yields

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has 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.

from The Motley Fool Australia https://ift.tt/8nTF312

The Coles Group Ltd (ASX: COL) share price has so far fended off the S&P/ASX 200 Index (ASX: XJO)’s year to date tumble, recording a decent gain for the first eight months of 2022.

The supermarket operator’s stock is currently swapping hands for $18.85. That’s 4.84% more than it was trading for at the start of this year. Meanwhile, the ASX 200 has dumped 6.85% in 2022 so far.

That leaves the supermarket stock having outperformed the broader market by nearly 12% year to date.

Could inflation ­– one of the major weights on the market this year ­– be providing a boost for the Coles share price? Let’s take a look.

What’s going right for the Coles share price?

It’s been a rough year on the market, but one sector has managed to bypass much of the suffering. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) has traded relatively flat so far this year.

And within the sector, the Coles share price is relishing. In fact, it hit an all-time high of $19.28 yesterday.

Its strong performance has come as the company is heralded as an inflationary winner.

Brokers have tipped the supermarket operator as an inflation-resistant buy as it sells, well, staples, as my Fool colleague Sebastian reported earlier this week. Consumers can’t choose to skip the supermarket trip due to rising inflation.

Additionally, the market has driven the Coles share price higher every time the company has released news this year.

Its stock surged 3% when it dropped its half year earnings in February. It lifted another 0.6% on the back of the company’s third quarter results.

There’s also been exciting non-market related news from the supermarket giant this year.

Coles announced it would offer Canberra-based customers the option to have goods delivered by drone in March and will soon open its first ever Liquorland in Tasmania.

And in more exciting news, brokers are tipping the Coles share price to keep rising.

Citi has a buy rating and a $19.30 price target on Coles’ shares, while Morgans has slapped them with an add rating and a $20.65 price target, my Fool colleague James reports.

Both brokers are also expecting Coles to up its dividends over the coming years.

The post Why has the Coles share price outperformed the ASX 200 by more than 10% in 2022 so far? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• 3 ASX 200 shares rocking new, multi-year highs on Tuesday
• The Coles share price just smashed its all-time high. Here’s why
• Leading brokers name 3 ASX shares to buy today
• Are Coles shares an inflation-beating investment right now?
• Here’s the Coles dividend forecast through to 2024

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 positions in and has recommended COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/T1dlX3A

It’s been a lukewarm day so far for the S&P/ASX 200 Index (ASX: XJO). At the time of writing, the ASX 200 is up by 0.12% after initially rising far more decisively this morning. But that hasn’t stopped the Pointsbet Holdings Ltd (ASX: PBH) share price from enjoying a cracking day this Thursday.

At present, Pointsbet shares are on fire, having rocketed a pleasing 7.7% so far today to $3.07 a share. That comes after the gaming tech company closed at $2.85 a share yesterday and opened at $2.98 this morning.

So why is the Pointsbet share price having such an impressive performance today?

Why is the Pointsbet share price on fire this Thursday?

Well, this is a rather strange occurrence because there has been no new news out from the company so far today. Or indeed this week. In fact, the piece of news we got out of the company was the quarterly activities report Pointsbet released last week on 29 July.

As we went through at the time, this report showed the company’s total net win increasing by 41% year on year to $85.8 million. Sports betting net wins were up 32% to $78.5 million, while overall turnover rose to $1.3 billion for the quarter, coming in far above the $986 million the company recorded in the corresponding quarter of FY2021.

But even so, investors were not impressed with this update at the time. As we noted last week, the release of this report resulted in Pointsbet shares falling 11% on the day it was released, and by a further 14.15% the following day.

So perhaps investors have changed their minds this week, and have decided to give Pointsbet shares another chance.

ASX 200 tech shares shoot the lights out on the ASX today

We are also seeing many other ASX tech shares perform well today though. The S&P/ASX 200 Information Technology Index (ASX: XIJ) is currently the best performing sector on the ASX 200 this Thursday. It’s up more than 2% so far. This has seen many ASX tech shares shoot the lights out.

Take Block Inc (ASX: SQ2). Its shares are up 9.3% at over $126. Life360 Inc (ASX: 360) and EML Payments Ltd (ASX: EML) are both up 5.3% and 7% respectively. Zip Co Ltd (ASX: ZIP) was up close to 10% earlier today but has since cooled off somewhat.

So it’s possible that Pointsbet shares have simply been caught up in a wave of goodwill towards ASX tech shares today too.

Whatever the reasons for Pointsbet’s stellar performance this Thursday, no doubt it is being welcomed by shareholders. 

At the current Pointsbet share price, this ASX 200 tech share has a market capitalisation of $940 million.

The post Why is the Pointsbet share price up 8% on the ASX today? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why BrainChip, Fortescue, PointsBet, and Zip shares are dropping
• ASX 200 midday update: Zip crashes, PointsBet tumbles
• Pointsbet share price tumbles 12% despite reported net-win improvements
• Here are the top 10 ASX 200 shares today
• Here’s why the Pointsbet share price tumbled 10% today

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended EML Payments, Life360, Inc., Pointsbet Holdings Ltd, and ZIPCOLTD FPO. The Motley Fool Australia has positions in and has recommended EML Payments. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/l6yc9u7

Interest is picking up again in the Sayona Mining Ltd (ASX: SYA) share price on Thursday after the company’s latest announcement.

While the enthusiasm appears to be fading throughout today, the above-average volume traded of 46 million shares displays the heightened intrigue among investors. At the time of writing, shares in the ASX lithium share are fetching 20.5 cents apiece, up 5.13%.

Accounting for today’s gain, the Sayona share price is approximately 58% above its 13 cents a share rut in mid-July.

Could profits be around the corner?

As the late and great Benjamin Graham said, “In the short run, the market is a voting machine but in the long run, it is a weighing machine.” When it comes to weighing up a company’s value, nothing is as important as earnings.

For Sayona, operational earnings are not yet a reality due to the exploratory and development stage it is currently in. This fact was pointed out in an article penned by my colleague Zach Bristow last week. However, the possibility of profits has taken another step in the right direction today.

According to the release, the restart of the North American Lithium (NAL) operation in Québec, Canada is picking up pace. Approximately 30% of plant and equipment upgrades are said to be completed. This is expected to accelerate with the number of construction workers on site set to double to 100 by September.

As a result, management believes the first spodumene concentrate will be produced in the first quarter of 2023. This is in line with prior timelines, as the company looks to take advantage of the government’s 100% local battery supply chain ambitions.

Furthermore, it appears the update has captured the hopes of investors today. Currently, the Sayona share price is moving up and to the right.

What else is moving the Sayona share price?

The gravity of today’s announcement was emphasised by Sayona managing director Brett Lynch, stating:

It is extremely pleasing to see the rapid progress at NAL as we ramp up towards the recommencement of lithium production.

With virtually all of the NAL operation powered by hydroelectricity, this is truly one of the world’s most sustainable lithium operations, an important ESG differentiator in an industry that aims to facilitate global decarbonisation.

Positively, the lithium price has stabilised at around US$70,500 per tonne according to Trading Economics. The next important aspect investors will be searching for is whether Sayona can produce lithium at an attractive all-in cost.

The Sayona share price is up 58% so far this year. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is down 6% in 2022.

The post Sayona share price lights up on ‘rapid progress’ toward production appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Up 33% in July, why did the Sayona share price have such a stellar month?
• Is ASX lithium company Sayona Mining profitable?
• Why is the Sayona Mining share price up 35% this week?
• Sayona shares sail 8% ahead amid government’s call to secure energy supply
• Why is the Sayona Mining share price tumbling 6% today?

Motley Fool contributor Mitchell Lawler 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.

from The Motley Fool Australia https://ift.tt/DTpaUbu

The All Ordinaries Index (ASX: XAO) is up 0.3% today, but one ASX telco share is leaving those gains in the dust, up a whopping 22.1%.

And no, it’s not Telstra Corporation Ltd (ASX: TLS), which is up 1.3%.

The ASX telco share in question is Vonex Ltd (ASX: VN8).

The microcap company closed yesterday trading for 7.7 cents and is currently trading for 9.4 cents, giving it a market cap just north of $31 million.

So, what’s piquing ASX investor interest today?

ASX telco share soars on cash flow outlook

Investors are bidding up the ASX telco share today after the company reported it had made the final cash payment to Symbio Holdings Ltd (ASX: SYM) to acquire part of its MyNetFone Direct Business.

The final payment sees Vonex complete the full $31 million in consideration payable to Symbio.

The ASX telco share reported this will result in an $833,000 monthly improvement of its net cash flow.

Commenting on the milestone, Vonex CEO Matt Fahey said:

Our completion of the deferred acquisition payments to Symbio Ltd marks the beginning of a new era for Vonex with greater financial flexibility.

We are excited to deliver further growth in the year ahead, fully unencumbered by deferred acquisition payments, as we continue to advance M&A pipeline opportunities which offer the potential to expand Vonex’s customer base, geographic presence and product suite.

Vonex listed on the ASX on 13 June 2018.

How has Vonex been performing?

With today’s intraday leap factored in, the ASX telco share is down 15% year to date. That compares to a 9% loss posted by the All Ordinaries so far in 2022.

Vonex reported some strong quarterly results on 29 July, which saw shares close 1% higher on the day. Highlights included record quarterly gross unaudited revenue of $10.5 million, which was up 81% from the prior corresponding period.

The post ‘New era’: Why this ASX telco share is soaring 22% appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• ‘Compelling’ ASX tech share that could grow its user base 1,500%

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 Symbio Holdings Limited. The Motley Fool Australia has positions in and has recommended Symbio Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/VDjv9b1