• Latitude share price launches 19% in first major gain since scrapped Humm deal

    A man in a business suit holds his coffee cup aloft as he throws his head back and laughs heartily.A man in a business suit holds his coffee cup aloft as he throws his head back and laughs heartily.

    The Latitude Group Holdings Ltd (ASX: LFS) share price is gaining meaningfully for the first time since the company’s deal to acquire the buy now, pay later (BNPL) leg of Humm Group Ltd (ASX: HUM) was scrapped last week. And it’s returned to the green in style.

    At the time of writing, the Latitude share price is trading at $1.28, 18.52% higher than it was at Thursday’s close.

    For context, the broader market is also gaining today. The S&P/ASX 200 Index (ASX: XJO) is currently up 0.41% while the All Ordinaries Index (ASX: XAO) has lifted 0.7%.

    Let’s take a closer look at what’s been going on with the financial services provider and its stock lately.

    Latitude share price ends the week with a bang

    The Latitude share price is recovering some of its recent falls on Friday – a full week after the company’s planned acquisition of Humm’s consumer finance business fell through.

    Latitude previously offered to buy the business – housing Humm’s BNPL offering – for $35 million in cash and 150 million Latitude shares.

    When the offer was first tabled in February, it was worth $335 million. However, its value tumbled alongside the Latitude share price before being binned.

    The companies said the proposal was terminated due to “major disruption in financial markets”.

    Latitude also told the market that less than 1% of its revenue and receivables come from its own BNPL offerings. It continued:

    Latitude Group is experiencing good organic volume growth, is profitable and well capitalised to execute on a number of opportunities ahead.

    The company’s positive outlook came after Humm chair Christine Christian said the Humm consumer finance leg hadn’t turned a profit in 2022 before the deal was scrapped.

    Christian cited “intense competition, rising interest rates, and weakening consumer sentiment” as the root causes of the segment’s struggles.

    The fallout of the deal’s abandonment appears to have caused plenty of drama in Humm’s camp. All but one member of the company’s board vowed to walk this week. Meanwhile, all has been quiet with Latitude.

    The Latitude share price traded flat on the day the deal was cancelled. It later tumbled nearly 23% between the end of last week and Thursday’s close.

    Today’s rebound sees it now only around 8.5% lower than it was at the end of last Friday’s session.

    The post Latitude share price launches 19% in first major gain since scrapped Humm deal appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Latitude Group Holdings Limited right now?

    Before you consider Latitude Group Holdings Limited, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Latitude Group Holdings Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    See The 5 Stocks
    *Returns as of June 1 2022

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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 Humm Group 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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  • Why is the BrainChip share price gaining 5% on Friday?

    Person pointing finger on on an increasing graph which represents a rising share price.

    Person pointing finger on on an increasing graph which represents a rising share price.

    The S&P/ASX 200 Index (ASX: XJO) is giving investors a rather pleasant end to the trading week so far this Friday. At the time of writing, the ASX 200 is up a decent 0.36% at around 6,550 points. But it’s been a far more pleasing day for one of the ASX 200’s newest members – the BrainChip Holdings Ltd (ASX: BRN) share price.

    BrainChip shares are finishing their first week on the ASX 200 today after the artificial intelligence company officially joined the index on Monday. And what an end to the week it has been so far. BrainChip shares are presently up a pleasing 4.6% at 91 cents a share.

    So why are BrainChip shares rising so enthusiastically today?

    Why is the BrainChip share price rocketing almost 5% today?

    Well, it’s worth noting that this move comes after a tough few days for the company, share price wise. Although BrainChip is booming today, the company was heavily sold off for most of the week. It reached 88 cents a share yesterday after falling more than 5% since Monday. Even after today’s rebound, BrainChip remains down by more than 21% over the past month alone.

    So perhaps investors have just decided that this company got too cheap to ignore yesterday, and are flocking back today. But we also see similar moves across the ASX tech share space today, which could also explain Brainchip’s rise.

    As we discussed earlier, ASX tech shares of many stripes are booming today. Take Block Inc (ASX: SQ2). This company’s shares are up more than 10% today. Or Life360 Inc (ASX: 360), up almost 18%. Xero Limited (ASX: XRO) is up almost 5%, while WiseTech Global Ltd (ASX: WTC) has zoomed 6% higher.

    So it’s also possible that BrainChip shares have just been caught in this ASX tech share updraft that we are seeing.

    Whatever the reason, it sure has been a good day for BrainChip shareholders so far.

    At the current BrainChip share price, this ASX tech share has a market capitalisation of $1.56 billion.

    The post Why is the BrainChip share price gaining 5% on Friday? appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of June 1 2022

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    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 Block, Inc., Life360, Inc., WiseTech Global, and Xero. The Motley Fool Australia has positions in and has recommended Block, Inc., WiseTech Global, and Xero. 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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  • Guess which ASX 200 mining shares these experts are backing

    Two excited mining workers in yellow high vis vests and hardhats shake hands to congratulate each other on a mineral discovery that is making the Galileo Mining share price rise todayTwo excited mining workers in yellow high vis vests and hardhats shake hands to congratulate each other on a mineral discovery that is making the Galileo Mining share price rise today

    It’s no secret that ASX 200 mining shares have been strong this year alongside rising commodity prices.

    When ASX investors think of mining, the ‘Big Australian’ — BHP Group Ltd (ASX: BHP) — probably comes to mind first. But that’s just history talking. Australia has a broad commodity mix to offer the world, and two of the hottest mining industries right now are rare earths and lithium.

    Australian rare earths are in demand because China is, by far, the world’s biggest supplier. But China’s increasing aggression towards the West means plenty of governments around the world want to buy from other countries now. Luckily, Australia is the world’s second-biggest supplier.

    Rare earths are used to make smartphones, wind turbines, aircraft engines, and hybrid cars. One of the ASX 200 mining shares benefitting from current high demand is Lynas Rare Earths (ASX: LYC).

    In an interview with Livewire, Tom Richardson from Paradice Investment Management says Lynas is a buy. He argues it’s a great company to leverage the global energy transition.

    Richardson said:

    It’s rare earths, NDPR, goes into high-strength magnets, which is absolutely required for EVs and wind turbines, so it’s absolutely an enabler of the energy transition.

    Lynas is the best-placed company in the world, in our opinion. It has the best asset.

    China completely dominates the supply chain, and everyone’s trying to work out how they can unpick that. And they’re in the predominant position and we think the commodity price probably goes higher over the next three years.

    Richardson is also backing global lithium producer Allkem Ltd (ASX: AKE).

    Lithium is a key component in the batteries that make electric vehicles (EV) run. The burgeoning EV industry is one of the reasons why ASX lithium shares have been so popular over the past couple of years.

    So, Richardson also rates this ASX 200 mining share a buy:

    It’s a buy, absolutely. China is still the biggest buyer in the market, and it looks as though their battery production actually is inflecting up.

    And there’s a lot of short interest in all these names. They might get caught by the demand strength in China. And maybe prices even go higher, not lower like people are expecting.

    Luke Smith from Ausbil Investment Management also says Allkem is a buy:

    We strongly disagree with the negative view around lithium. We’ve seen pricing strength, and demand backdrop is extremely strong and strengthening. Allkem, three growth assets, puts it on par with the majors.

    The post Guess which ASX 200 mining shares these experts are backing appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Allkem Limited right now?

    Before you consider Allkem Limited, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Allkem Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    See The 5 Stocks
    *Returns as of June 1 2022

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    Motley Fool contributor Bronwyn Allen has positions in Allkem Limited. 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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  • Brokers name 3 ASX shares to buy today

    A white and black clock face is shown with three hands saying Time to Buy reflecting Citi's view that it's time to buy ASX 200 banks

    A white and black clock face is shown with three hands saying Time to Buy reflecting Citi's view that it's time to buy ASX 200 banksIt has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

    Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

    CSL Limited (ASX: CSL)

    According to a note out of Citi, its analysts have retained their buy rating but trimmed their price target on this biotherapeutics giant’s shares to $330.00. Citi notes that there have been several data points influencing its view on the plasma industry. The good news is that the data is positive, with plasma product demand strong and plasma collections now back to pre-pandemic levels. The CSL share price is trading at $270.72 on Friday.

    Lovisa Holdings Ltd (ASX: LOV)

    A note out of UBS reveals that its analysts have retained their buy rating but cut their price target on this fashion jewellery retailer’s shares to $16.00. While UBS has concerns about consumer spending in the discretionary category and has downgraded its sales and earnings estimates, it still expects solid earnings growth from Lovisa in the coming years. In light of this, it sees its shares as good value following recent weakness. The Lovisa share price is fetching $13.88 today.

    Pilbara Minerals Ltd (ASX: PLS)

    Analysts at Macquarie have retained their outperform rating and $3.90 price target on this lithium miner’s shares. This follows news that Pilbara Minerals has already received and accepted a record bid for its lithium cargo before the June auction. Outside this, the broker believes the market is valuing the company as though lithium prices will fall by over two-thirds from current spot prices. Whereas it is expecting prices to remain stronger for longer. The Pilbara Minerals share price is trading at $2.19 this afternoon.

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

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of June 1 2022

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    Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 CSL Ltd. The Motley Fool Australia has recommended Lovisa Holdings Ltd and Macquarie Group 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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  • 3 ASX All Ordinaries shares going gangbusters on Friday

    Three businesspeople leap high with the CBD in the background.Three businesspeople leap high with the CBD in the background.

    All Ordinaries Index (ASX: XAO) shares are managing to hold onto their gains this afternoon, with the All Ords up 0.6% at time of writing.

    While that’s a healthy gain for the index to end the week, three ASX All Ordinaries shares are leaping well ahead of the benchmark.

    The first 2 stocks leading the charge

    Up 17.6% today, Latitude Group Holdings Ltd (ASX: LFS) is certainly doing its part to boost the index.

    With no fresh price-sensitive news from the company, investors could be re-evaluating the impact of the company’s decision not to move forward with its proposed $250 million acquisition of Humm Group Ltd (ASX: HUM)’s buy now, pay later (BNPL) business.

    BNPL shares are some of the best performers on the ASX today.

    Following today’s lift, the Latitude share price is down 36% so far in 2022.

    Our second All Ordinaries share charging higher on Friday is Betmakers Technology Group Ltd (ASX: BET), up 20% at the time of writing.

    The All Ordinaries share provides data and analytic products for the B2B wagering market.

    Investors are snapping up the stock after the company reported this morning it plans an on-market share buyback of as much as 10% of its outstanding shares, or more than 90 million shares.

    The Betmakers share price remains down 55% year-to-date, despite the big bounce today.

    Our top performing ASX All Ordinaries share

    Moving on to our top-performing ASX All Ordinaries share, we have Vulcan Energy Resources Ltd (ASX: VUL).

    The lithium and battery metals explorer and producer’s shares are up 26.8% today.

    Investor enthusiasm was stoked by a release this morning reporting that international giant Stellantis has invested $76 million in Vulcan Energy. Stellantis subsidiaries include global vehicle names like Peugeot, Chrysler, Citroën, Opel, Dodge, and Maserati.

    Stellantis is paying $6.62 per share, still some 4.4% above the current Vulcan share price.

    The ASX All Ordinaries share remains down 41% year-to-date.

    The post 3 ASX All Ordinaries shares going gangbusters on Friday appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of June 1 2022

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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 Betmakers Technology Group Ltd. The Motley Fool Australia has recommended Betmakers Technology Group Ltd and Humm Group 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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  • Here’s 3 popular ASX shares that are trading ex-dividend next week

    Woman looking at her smartphone and analysing share price.Woman looking at her smartphone and analysing share price.

    These popular ASX 200 shares are climbing today despite no news coming from each of the companies.

    While the market is recovering lost ground, investors might be buying up these ASX shares before trading ex-dividend next week.

    The ex-dividend date is when investors must have purchased a company’s shares beforehand to be eligible for the upcoming dividend. If an investor buys the shares on or after this date, the dividend will go to the seller.

    Charter Hall Group (ASX: CHC) shares will trade ex-dividend next Wednesday.

    Despite not reporting any financial performance since its half year results, the integrated property company announced its latest dividend distribution.

    The board declared a 44.94% franked interim dividend of 20.47 cents per security. This will be paid to eligible shareholders on 31 August.

    This brings the total distribution per security for the half year ending 30 June 2022 to 40.13 cents per security.

    When comparing to the FY21 distribution of 37.86 cents per security, this represents a 6% increase.

    Transurban Group (ASX: TCL) shares are also set to trade without the rights next Wednesday.

    The toll road operator advised it is paying out 26 cents per stapled security for the six months ending 30 June 2022.

    The 8.34% franked dividend will be distributed to eligible shareholders on 23 August.

    This takes the total FY22 distribution to 41 cents per stapled security, of which 2 cents is fully franked.

    Goodman Group (ASX: GMG) shares are going to trade ex-dividend on Wednesday 28 June.

    The integrated commercial and industrial property group is scheduled to reward its shareholders with a 15 cents per stapled security dividend.

    Unlike the above two, the Goodman dividend is unfranked which means shareholders won’t receive any tax credits for this.

    Payment is expected to be on 25 August.

    The post Here’s 3 popular ASX shares that are trading ex-dividend next week appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of June 1 2022

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    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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  • Why Beach, Cooper Energy, Leo Lithium, and Whitehaven Coal are dropping

    a woman holds her hands to her temples as she sits in front of a computer screen with a concerned look on her face.

    a woman holds her hands to her temples as she sits in front of a computer screen with a concerned look on her face.The S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a gain. In afternoon trade, the benchmark index is up 0.35% to 6,552 points.

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

    Beach Energy Ltd (ASX: BPT)

    The Beach share price is down 3% to $1.58. This appears to have been driven by a pullback in oil prices overnight. It isn’t just Beach that is slipping today. At the time of writing, the S&P/ASX 200 Energy index is down 1.9%.

    Cooper Energy Ltd (ASX: COE)

    The Cooper Energy share price is down 4% to 23.5 cents. Investors have been selling this energy company’s shares this week following the completion of its institutional entitlement offer and placement. Cooper Energy raised $183 million at a 22% discount of 24.5 cents per new share. The proceeds will be used to fund the acquisition of the Orbost Gas Processing Plant.

    Leo Lithium (ASX: LLL)

    The Leo Lithium share price has continued its slide and is down a further 1.5% to 51.2 cents. This is despite the rest of the lithium industry rebounding strongly. Today’s decline means that this newly listed lithium developer’s shares have lost 27% of their value since listing at 70 cents on Thursday.

    Whitehaven Coal Ltd (ASX: WHC)

    The Whitehaven Coal share price is down 3.5% to $4.44. A number of miners are trading lower today amid concerns over a potential global recession. This has put pressure on commodity prices this week. In addition, news of coal royalty increases in Queensland have hit the miners hard. Royalties are due to increase to upwards of 40% for prices above $300 per tonne.

    The post Why Beach, Cooper Energy, Leo Lithium, and Whitehaven Coal are dropping appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of June 1 2022

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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 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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  • Is the Woodside share price a buy for its 13% dividend yield?

    Woman holding $50 notes and smiling.

    Woman holding $50 notes and smiling.

    The Woodside Energy Group Ltd (ASX: WDS) share price has seen a solid performance over the first six months of 2022, rising by 37%.

    As a very large oil and gas business, it has benefited from the stronger oil price since the beginning of the Russian invasion of Ukraine.

    Resource businesses like oil shares are often able to pay large dividends to investors when their relevant commodity price jumps higher, as it mostly just adds to profit because the costs of producing that resource are essentially the same (aside from government payments like tax) whether the price is a bit higher or lower.

    The oil price is currently at an elevated price, though it’s down double-digits in percentage terms from two weeks ago amid concerns that a global recession could lead to less oil demand.

    With the oil price currently above US$100 per barrel, does this mean that Woodside is a good business to consider buying for income?

    Dividend expectations

    The broker Ord Minnett thinks that at the current Woodside share price, it’s going to pay a grossed-up dividend yield of 13.6% in FY22 and then 8.6% in FY23.

    Macquarie believes that Woodside could provide a grossed-up dividend yield of 15.3% in FY22 and 8.1% in FY23.

    One of the biggest estimates of all comes from Morgan Stanley – it’s predicting that Woodside will pay a grossed-up dividend yield of 18% in FY22 and 16.4% in FY22.

    By most accounts, those yields are big.

    However, there is more to consider with an investment than just the dividend yield. If investors received a 15% dividend yield but then the share price fell 15%, then it’s back to square one.

    Is the Woodside share price a buy?

    Both Ord Minnett and Morgan Stanley believe that Woodside shares are worth buying. They have recently focused on the Woodside acquisition of BHP Group Ltd’s (ASX: BHP) oil and gas business.

    Ord Minnett’s price target on Woodside is $37, implying a possible rise of around 20%. It likes the bigger scale created by the merger.

    Morgan Stanley’s price target for Woodside is $40, suggesting a possible rise over the next year of around 30%. This broker also likes the benefits of the merger, while also suggesting that even after the Russian invasion ends, the price of energy will remain higher as Europe looks for alternate sources to buy energy from. The broker thinks that gas is very important for Woodside’s longer term.

    However, Macquarie is less optimistic about the company. It’s neutral on the business with a price target of $29, implying a mid-single-digit drop. The broker believes that oil prices will fall in the longer term.

    The business is also working on advancing its plans to invest in lower-carbon sources of energy that customers are seeking, such as hydrogen and ammonia.

    It is making progress with its proposed hydrogen projects and has launched studies of large-scale energy and carbon capture and storage in Western Australia. It’s targeting $5 billion of investment in new energy products and lower-carbon services by 2030.

    The post Is the Woodside share price a buy for its 13% dividend yield? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Woodside Energy Group Ltd right now?

    Before you consider Woodside Energy Group Ltd, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Woodside Energy Group Ltd wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    See The 5 Stocks
    *Returns as of June 1 2022

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

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  • Why is the Temple and Webster share price surging 11% higher today?

    Happy couple doing online shopping.Happy couple doing online shopping.

    The Temple & Webster Group Ltd (ASX: TPW) share price is rocketing 10.79% higher to $3.80 in afternoon trade on Friday.

    Investors have pushed the share higher despite no news from the online furniture retailer.

    Meanwhile, the S&P/ASX 300 Retailing Index (AXRTKD) is 0.6% down after posting gains this week.

    What’s up with the Temple and Webster share price?

    The Temple and Webster share price has leapt higher this week after coming off a down period, and is now up more than 19% since last Friday’s close.

    Zooming out, and investors have been selling their positions since 31 August year.

    Since then, the company’s shares have tumbled from a high of $14.71 to hit 52-week lows last week.

    However, the ASX retail share found buyers at this level, which has seen it jump to its current price.

    In broad sector moves, the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) has also turned course this week and is lifting another 1% today. It has now gained more than 4% since last Friday’s close.

    Investors look to have bought in at the sector’s lows, possibly chasing some cheap stocks with fundamental strength.

    However, the Temple and Webster share price has a way to go to return to its former highs. It’s down more than 64% this year to date, and has slid more than 12% over the past month.

    In the last 12 months, it has lost 63% of its value, bringing it back to January 2020 levels. This is best seen on a five-year chart, below.

    TradingView Chart

    The post Why is the Temple and Webster share price surging 11% higher today? appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of June 1 2022

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    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 Temple & Webster Group Ltd. The Motley Fool Australia has recommended Temple & Webster Group 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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  • Why Betmakers, Block, Lake Resources, and Vulcan shares are racing higher

    Green arrow with green stock prices symbolising a rising share price.

    Green arrow with green stock prices symbolising a rising share price.

    In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a mildly positive note. At the time of writing, the benchmark index is up 0.25% to 6,544.4 points.

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

    Betmakers Technology Group Ltd (ASX: BET)

    The Betmakers share price has jumped 22% to 36.5 cents. This morning this heavily shorted betting technology company announced that it would undertake a share buyback. Betmakers notes that improved cash flows and market dynamics are allowing it to maximise shareholder value through the buyback.

    Block Inc (ASX: SQ2)

    The Block share price is up 11% to $98.48. This follows a strong gain by its NYSE listed shares overnight and a rebound in the tech sector. The former was driven by news that Cathie Wood’s Ark Innovation fund has been picking up the payments company’s shares this week.

    Lake Resources N.L. (ASX: LKE)

    The Lake Resources share price has rebounded 16% to 81 cents. As well as getting a boost from a recovery in the lithium industry, a market update has given this lithium developer’s shares a lift. That update stressed that nothing has changed for Lake Resources despite the sudden exit of its CEO this week.

    Vulcan Energy Resources Ltd (ASX: VUL)

    The Vulcan share price has rocketed almost 30% higher to $6.43. This follows news that the lithium developer has received an investment from a major automaker at a massive 32% premium to its last close price. Stellantis has paid a total of $76 million or $6.62 per share for 11.45 million shares, becoming Vulcan’s second largest shareholder. Stellantis is the name behind car brands such as Chrysler, Citroën, Fiat, Maserati, and Peugeot.

    The post Why Betmakers, Block, Lake Resources, and Vulcan shares are racing higher appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of June 1 2022

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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 positions in and has recommended Betmakers Technology Group Ltd and Block, Inc. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool Australia has recommended Betmakers Technology Group 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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