The S&P/ASX 200 Index (ASX: XJO) is currently recovering after a messy morning to record a slight gain this Tuesday. At the time of writing, the ASX 200 has gained a tentative 0.02% and is trading at around 6,995 points.

But rather than trying to figure all of that out, let’s instead dig a little deeper into these market moves and check out the shares currently 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 Tuesday

Alumina Limited (ASX: AWC)

ASX 200 alumina and aluminium producer Alumina is our first share worth checking out today. So far this Tuesday, a notable 9.94 million Alumina shares have been traded on the markets.

There has been no fresh news out of Alumina. Thus, this volume is the probable result of the movements of the company’s shares themselves.

So far today, Alumina has lost 0.65% and is now going for $1.52 a share.

Pilbara Minerals Ltd (ASX: PLS)

Next up today is ASX 200 lithium stock Pilbara Minerals. This lithium producer has had a hefty 14.52 million shares trade on the markets so far today.

This looks to be a result of the nasty share price fall the company has endured. Pilbara shares are presently trading at $2.74 each, down by 2.32% today.

Yesterday, Pilbara’s new managing director and CEO Dale Henderson took the reins of the company, which could also be influencing volumes.

Zip Co Ltd (ASX: ZIP)

And it’s ASX 200 buy now, pay later (BNPL) that is now the ASX 200’s most traded share this Tuesday. We have seen 15.46 million Zip shares bought and sold on the ASX thus far.

This looks like a consequence of the volatility we have seen with the Zip share price today. Zip is currently bucking the market with a healthy gain of 3.77% to $1.10 a share.

But Zip rose as high as $1.16 earlier this morning before settling to its current level, a rise worth more than 9% at the time.

The post Here are the 3 most heavily traded ASX 200 shares on Tuesday 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

• Can ‘Operation Blue Sky’ take Zip shares up the path to profitability?
• What’s going on with the CSL share price on Tuesday?
• 5 things to do during ASX results season
• 5 things to watch on the ASX 200 on Tuesday
• Here are the top 10 ASX 200 shares 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 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/pTFJYMR

It’s been a pretty poor day for the S&P/ASX 200 Index (ASX: XJO) so far this Tuesday. At the time of writing, the ASX 200 has lost 0.2% of its value and is back down to below 6,970 points. But it’s been a lot happier for the Coles Group Ltd (ASX: COL) share price today.

Coles shares are having a corker. The ASX 200 supermarket operator has gained a healthy and comprehensively market-beating 1.8% so far today and is going for $19.19 a share at present. But earlier today, Coles shares climbed as high as $19.28.

Coles share price hits new record high

That happens to be a new 52-week high for the Coles share price. It’s also a record high for Coles shares, being the highest share price Coels has climbed to since its demerger from Wesfarmers Ltd (ASX: WES) back in late 2018.

So how has Coles come to this happy occasion on a day that has been rather grim for most ASX 200 shares?

Well, it’s seemingly got nothing to do with anything out of the company itself, seeing as Coles hasn’t released any news or announcements this week.

However, we can point to a couple of factors that could be at play here today.

Along with its arch-rival Woolworths Group Ltd (ASX: WOW), Coles is one of the largest and most dominant consumer staples shares on the ASX 200.

Consumer staples companies are those who sell food, drinks and other household essentials. These kinds of companies are often touted as ‘safer’ investments due to the provision of these life essentials.

As we covered earlier today, the legendary investor Warren Buffett is fond of these kinds of companies, possibly for these reasons. Currently, around 10% of the share portfolio of Buffett’s company Berkshire Hathaway Inc is invested in consumer staples shares like Coca-Cola, Mondelez and Kraft Heinz.

Brokers put ASX 200 consumer staples shares in vogue…

2022 has delivered a sharp rise in uncertainty for investors as concerns over inflation and higher interest rates have taken off. As such, the appeal of companies in the consumer staples sector is arguably rising because of this.

That could be why the Coles share price has risen by more than 7% year to date in 2022 thus far, while the ASX 200 has fallen by more than 8%.

But a number of expert investors have been touting the defensiveness and inflation-resistant properties that Coles shares possess too, perhaps adding to this narrative.

As we covered just yesterday, ASX broker Citi has recently come out and reaffirmed a buy rating on Coles shares. That also came with a 12-month share price target of $21.

Explaining its rating, Citi stated that “mid to high single-digit inflation, expected to persist for at least the next 6 to 12 months, will drive sales growth for supermarket majors Coles and Woolworths”.

We’ve also recently covered how fellow ASX broker Morgans has a similar view. Morgans rated Coles shares as a buy as well, with a share price target of $20.65.

So it’s possible that Coles’ new record high today has also been influenced by these positive broker opinions.

Regardless, it’s certainly been a pleasing day for Coles shareholders.

At the current Coles share price, this ASX 200 consumer staples share has a market capitalisation of $25.64 billion, with a dividend yield of 3.18%.

The post The Coles share price just smashed its all-time high. 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(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• 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
• Analysts name 2 ASX dividend shares with good yields to buy
• Why I think Coles shares are a compelling buy today

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

from The Motley Fool Australia https://ift.tt/KpiIy1a

The DroneShield Ltd (ASX: DRO) share price is almost 6% higher today after the company announced a $2 million research grant from the federal government. 

At the time of writing, DroneShield shares are trading for 19 cents each, 5.56% higher, after reaching an intraday high of 19.5 cents this morning. 

Let’s check the latest news from the ASX technology company.

What does this mean for the DroneShield share price? 

Today’s announcement represents DroneShield’s largest government funding to date.

It’s also timely with the company reporting its artificial intelligence, electronic warfare, and adjacent technology services are “increasingly in demand” amid growing geopolitical tensions.

DroneShield touts itself as a “global leader” in providing security solutions to counter aerial drone threats to more than 120 countries. Think of bigger drones trying to pick up intelligence or even acting as attack mechanisms. 

Last year, the company won the Advanced Technologies Award at the 59th Australian Export Awards. 

The latest grant will support further research and development. 

DroneShield CEO Oleg Vornik said:

DroneShield appreciates the substantial support it receives from the Australian Government, through grants and export support for overseas sales, alongside of our current and under proposal contracts with the Australian Defence Force.

In March, DroneShield secured a $2 million order from an international government agency.

The company then formed a partnership with Nearmap Ltd (ASX: NEA) to bolster its platform software with Nearmap’s best-in-class mapping data, serving government, intelligence, homeland security, and defence markets.  

Despite a string of positive announcements in the lead-up to the 12-month peak in the DroneShield share price, its latest quarterly results for 2Q FY22 revealed the business is not yet cash flow positive. 

However, the company is continuing to grow revenue, which remains its main focus. 

The ASX defence and security solution business is quickly becoming one of the pioneers in its niche segment, so it’s worth keeping a close eye on. 

DroneShield share price snapshot

Over the past 12 months, the DroneShield share price has risen by almost 3%, peaking at 30 cents in May.

It’s also managed to outperform the S&P/ASX 200 Index (ASX: XJO), which has fallen by 7% over the past year.  

The company has a current market capitalisation of $82 million. 

The post DroneShield share price lifts 6% on record government grant 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 did the Droneshield share price charge 10% higher today?

Motley Fool contributor Raymond Jang 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 DroneShield Ltd. The Motley Fool Australia has recommended DroneShield 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/76wEClD

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down slightly to 6,991.4 points.

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

Appen Ltd (ASX: APX)

The Appen share price has crashed over 27% lower to $4.14. Investors have been selling down this artificial intelligence data services company’s shares after the release of a dismal trading update. Appen advised that it expects to report half year revenue down 7% to $182.9 million and a 69% decline in underlying EBITDA to $8.5 million. This reflects weaker digital advertising demand and a resultant slowdown in spending by some of its large customers.

Credit Corp Group Limited (ASX: CCP)

The Credit Corp share price has sunk 9% to $22.04. This follows the release of the debt collector’s full year results this morning. While Credit Corp achieved its guidance and Morgans’ estimate with a 9% lift in profit to $96.2 million, its guidance disappointed. Morgans was expecting FY 2023 net profit guidance of $94 million to $104 million. However, management is targeting $90 million to $97 million.

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price is down 3% to $17.69. This morning UBS became the latest broker to slap a sell rating on the iron ore giant’s shares. The broker has downgraded Fortescue’s shares to a sell rating and cut the price target on them to $15.80. UBS has concerns over costs and the iron ore price outlook.

Santos Ltd (ASX: STO)

The Santos share price is down almost 2% to $7.25. Investors have been selling Santos and other energy shares after oil prices tumbled overnight. Traders were selling oil following concerns over weak Chinese factory data. This has led to the S&P/ASX 200 Energy index falling almost 1% on Tuesday.

The post Why Appen, Credit Corp, Fortescue, and Santos 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

• Why is the Fortescue share price sliding on Tuesday?
• Appen share price sinks 25% as earnings tank amid uncertain outlook
• Credit Corp share price drops 15% as core debt buying market flounders
• Appen share price on watch as ‘challenging’ first half dints earnings
• 5 things to watch on the ASX 200 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 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/5MQKGej

Inflation and interest rates are the talk of the town today, but they’re not putting a dint in the Wesfarmers Ltd (ASX: WES) share price.

In fact, the stock is in the green, alongside its home sector – the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ).

Right now, the Wesfarmers share price is trading 0.68% higher at $47.07. Meanwhile, the consumer discretionary sector is gaining 0.43%.

On top of that, the S&P/ASX 200 Consumer Staples Index (ASX: XSJ), with which Wesfarmers closely aligns, is leading the market, gaining 0.94%.

For comparison, the broader S&P/ASX 200 Index (ASX: XJO) is falling 0.45%.

Could Wesfarmers be an inflation winner?

The Wesfarmers share price is outperforming the broader market on Tuesday as the Reserve Bank of Australia announces the result of its August meeting.

The entity has upped Australia’s official interest rate by 50 basis points to 1.85% in a bid to help control inflation in the nation.

But Wesfarmers might be better prepared than most to weather the effects of soaring inflation.

That’s because of its consumer staples-adjacent position.

Consumer staples can generally weather poor times because they are, well, staples. Customers can’t simply forego splashing out on necessities when times are tough.

That might be one reason Warren Buffett has allocated 10% of Berkshire Hathaway’s portfolio to the sector.

While Wesfarmers itself isn’t a ‘staple’ stock, many of its businesses arguably fit into the category.

For one, it holds a 2.8% interest in Coles Group Ltd (ASX: COL). The supermarket giant has been tipped as an inflationary buy by brokers.

Its retail brands like Bunnings and Kmart also sell plenty of products consumers need, rather than want. So does the company’s newly acquired Priceline business.

Thus, the Wesfarmers share price could be buoyed by today’s uncertainty.

Wesfarmers share price snapshot

Its conceivable potential as an inflation hedge hasn’t managed to save the stock over recent months.

The Wesfarmers share price is currently 21% lower than it was at the start of 2022. It has also fallen 24% since this time last year.

For comparison, the ASX 200 has dumped 8% year to date and 7% over the last 12 months.

The post Why is the Wesfarmers share price beating the ASX 200 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

• 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
• Broker names 2 blue chip ASX shares to buy now

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 Berkshire Hathaway (B shares). 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), short January 2023 $200 puts on Berkshire Hathaway (B shares), and short January 2023 $265 calls on Berkshire Hathaway (B shares). The Motley Fool Australia has positions in and has recommended COLESGROUP DEF SET and Wesfarmers Limited. The Motley Fool Australia has recommended Berkshire Hathaway (B shares). 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/8YKOFn3

The BrainChip Holdings Ltd (ASX: BRN) share price had a stellar run in July – its best month since February 2022.

Shares in the artificial intelligence (AI) technology company finished at $1.085, up 36% for the first month of FY23.

While BrainChip shares have since given up a portion of those gains, the company is currently trading at $1.02, down 0.49%.

What’s led BrainChip shares to accelerate last month?

The month of July was a volatile one for the BrainChip share price, to say the least.

Wild price swings of over 10% in either direction occurred several times despite a relatively quiet period for the company.

BrainChip’s only announcement in July was that of its quarterly activities report in which it provided a financial update.

On news of the release, its shares rose 8.62% followed by a 5-month high of $1.365 during the following day.

Nonetheless, it appears investors have mixed feelings when it comes to valuing the emerging AI company.

Hence why it’s likely its shares have moved excessively in the past month.

BrainChip’s market capitalisation is roughly $1.87 billion based on today’s price. This puts it in the likes with Dicker Data Ltd (ASX: DDR) although both companies are positioned differently in the tech space.

For context, the Australian distributor of hardware, software and cloud technology is valued approximately at $1.95 billion.

With BrainChip, a lot has been priced into its shares given that it generated $1.2 million in revenue for the prior quarter.

Management has been busy executing the commercialisation of its Akida neuromorphic IP.

Only time will tell if the company can deliver on its potential, especially given its lucrative partnership with world-renown, NASA.

BrainChip share price snapshot

Regardless of treading lower of late, the BrainChip share price has surged by 127% over the last 12 months.

When looking at year-to-date, its shares are up 50% for the period.

In comparison, the S&P/ASX All Technology index (ASX: XTX) is down 26% in 2022.

The post Why did the BrainChip share price rocket 36% in July? 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

• Here are the 3 most heavily traded ASX 200 shares on Friday
• Why BrainChip, Fortescue, PointsBet, and Zip shares are dropping
• Why is the BrainChip share price sinking 11% on Friday?
• Here are the top 10 ASX 200 shares today
• Why Alcidion, Betmakers, BrainChip, and Zip shares are racing higher

Motley Fool contributor Aaron Teboneras has positions in Dicker Data Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Dicker Data Limited. The Motley Fool Australia has positions in and has recommended Dicker Data 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/zBRcUD3

The Incannex Healthcare Ltd (ASX: IHL) share price has bounced from 52-week lows today and now trades in the green.

At the time of writing, the share is swapping hands more than 5% higher at 20 cents apiece on no news.

What’s up with the Incannex share price?

The share has been on a one-way slope downwards from its 52-week highs of 73 cents in March. More recently, it extended gains throughout July before bottoming at its yearly lows in yesterday’s session.

Sellers have been the dominant force all the way down as well, judging by the appearance of the chart below. Note the downward bias since June, where buyers have been absent.

Losses have now extended to 68% this year to date for the Incannex share price.

This is in stark contrast to the S&P/ASX 200 Health Care Index (ASX: XHJ). It has turned course and trades at a premium to most other benchmarks.

The index (representing the broad health care sector) has shot up since June, creating a divergence between it and the Incannex share price, as seen below.

As such, the share is adding to losses whilst the healthcare sector is strengthening, suggesting that investors might be looking to for exposure to other factors – such as profitability – in H1 FY23.

This would make sense with the prospects of ‘sticky’ inflation, economic slowdown and interest rate hikes looming on the horizon, because only those companies with the most defensible business models will prosper in that climate.

Meanwhile, the Incannex share price is down more than 18% in the past 12 months.

The post The Incannex share price has plunged 70% so far in 2022. What’s gone so wrong? 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

• 3 ASX All Ordinaries shares going great guns on Thursday
• Green shoots or just weeds? The outlook for ASX cannabis shares in FY23
• How did ASX cannabis shares perform in FY22?

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 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/lenTKo7

Zip Co Ltd (ASX: ZIP) shares have experienced a tempered start to the week.

At the time of writing, the Zip share price is in the green. In turn, the buy now, pay later (BNPL) business is now down 6% since Monday. However, we should view this move in the context of the company’s sensational 33% rise in the prior week.

In a swift change of sentiment, investors are now brimming with enthusiasm amid Zip’s new focus.

Sky-high ambitions for the future

Growth investors don’t need to be reminded of the demolition that has played out to loss-making companies this year. The double whammy of rising inflation and amped-up interest rates has put pressure on companies to deliver profitability.

As previously reported, Zip shared its quarterly update with investors on 21 July. While the market has responded positively to the Zip share price since then, the elephant in the room remains the lack of profits.

For the year ending December 2021, the BNPL company reported a significant bottom-line loss of $419.3 million. With $278.6 million in liquid cash available for use at the end of 30 June, it is apparent that Zip would need to take action to remain solvent without the need to raise further capital (which is a challenging task in the current environment).

As a result, Zip is undertaking what has been internally dubbed ‘Operation Blue Sky’. The main objective of this strategic plan is to strip away costs and make the business economically viable without the need for outside capital intervention.

Goals mapped out in Operation Blue Sky include the removal of $30 million in employee costs, stepping back global expansion, conducting more stringent lending scrutiny, and holding off on new product launches.

Zip shares have responded with a resounding optimism in light of the objectives. However, the plans haven’t won over UBS analyst Tom Beadle who retains a sell rating on the BNPL company.

Zip shares under the microscope

The Zip share price has suffered at the hands of deteriorating sentiment toward the BNPL sector. Since the beginning of the year, Zip shares have witnessed 75% of their value evaporate. For comparison, Block Inc (ASX: SQ2) (owner of Afterpay) has sunk 53%.

However, Zip now trades on a price-to-book (P/B) ratio of around 0.5 times. This represents a much steeper discount compared to Block’s 2.6 times.

The post Can ‘Operation Blue Sky’ take Zip shares up the path to profitability? 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

• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why Aussie Broadband, Temple & Webster, United Malt, and Zip shares are dropping
• Friend or foe? Could inflation give ASX BNPL shares a new lease on life?
• These are the 10 most shorted ASX shares
• Why did the Zip share price rocket 159% in July?

Motley Fool contributor Mitchell Lawler has positions in Block, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc. and ZIPCOLTD FPO. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/H0mJunG

The Woodside Energy Group Ltd (ASX: WDS) share price is in the red on Tuesday. Its slump comes amid news climate activists are challenging the company’s $17 billion Scarborough Project in the Supreme Court.

The Conservation Council of WA (CCWA) is challenging approvals for Pluto Train 2, saying pollution and environmental harm from resulting emissions wasn’t properly considered. Pluto Train 2 is a critical component of the project.

Woodside shares are trading at $32.39 at the time of writing, 1.37% lower than their previous close. For context, the S&P/ASX 200 Index (ASX: XJO) is down 0.46% right now.

Let’s take a closer look at the latest legal battle over the ASX 200 energy giant’s major project.

Woodside’s Scarborough Project back in court

Looking to snap up Woodside shares? The company’s hitting headlines today after CCWA announced it’s challenging the WA Department of Water and Environmental Regulation’s approval of Pluto Train 2’s construction, handed down in May 2021.

Pluto Train 2 is a proposed expansion of Woodside’s Pluto LNG gas facility’s processing capacity.

CCWA claims the regulator failed to consider the expansion will nearly double the facility’s emissions.

To save duplicating findings, an increase in emissions was instead considered by WA’s Environmental Protection Agency.

CCWA executive director Maggie Wood said governments and their departments have “a legal and moral duty” to protect Australia’s climate. Wood continued:

To avoid irreversible damage to our climate and protect the people of WA from the horrific effects of more droughts, floods, and bushfires it is vital that the long-lasting impacts of fossil fuel proposals are taken seriously and given the most stringent and careful regulatory assessment before decisions are made.

The Scarborough project still has several regulatory hurdles to clear.

It’s also the subject of a separate legal challenge brought by the Australian Conservation Foundation.

Woodside share price snapshot

Today’s slip hasn’t been enough to dint the Woodside share price’s longer-term gains.

The stock has lifted 48% since the start of 2022. It’s also 46% higher than it was this time last year.

The post Looking to buy Woodside shares? Here’s why the energy giant faces a fresh legal battle from climate activists 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

• Here are the top 10 ASX 200 shares today
• ‘Alarming’: ASX 200 energy shares lift despite increasing government pressure over supply outlook
• Up 45% so far in 2022, is it too late to buy Woodside shares?
• 5 things to watch on the ASX 200 on Monday
• Oil has retraced from June highs. What’s this mean for the Woodside share price?

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/SGMFtkT

The Bitcoin (CRYPTO: BTC) price is down just over 2% since this time yesterday, currently trading for US$22,907 (AU$32,680).

Ethereum (CRYPTO: ETH) is also down, with the world’s number two crypto falling 6% over the 24 hours to US$1,587.

Despite the retrace, both tokens remain significantly up from their levels of 1 July.

On 1 July the Bitcoin price stood at US$18,763. Meaning it’s gained an impressive 22% since then.

But the Ethereum price has done far better, charging 56% higher from the US$1,013 it was worth on 1 July, according to data from CoinMarketCap.

So, can the world’s number two token by market valuation dethrone the world’s first and still largest crypto?

Will there be a ‘flippening’ if the Bitcoin price continues to lag?

In crypto circles, Ethereum’s potential to overtake Bitcoin is known as the flippening.

While the past month’s price action narrowed the gap between the two tokens, there’s still a big bridge between them.

At the current Bitcoin price, the token has a market cap of US$438 billion. That compares to a market cap of US$193 billion for Ethereum.

Whether a flippening is on the horizon and just when that might happen depends on who you ask.

Ethereum fans point to the upcoming ‘Merge’ as likely to offer strong tailwinds for the crypto.

The Merge will see the Ethereum blockchain shift from a proof-of-work to a proof-of-stake protocol. This will significantly reduce the amount of computing power needed to verify transactions, reducing costs and greatly slashing energy use.

The merge is now slated to come into fruition in September after years of delays, with testing ongoing.

Bitcoin is likely to keep using its proof-of-work protocol, which has seen the Bitcoin price come under pressure amid revelations of the tremendous amount of energy required to maintain the blockchain.

What the experts are saying

As mentioned above, the experts are split on their outlook on Ethereum dethroning Bitcoin and on the power of the merge.

Quantum Economics CEO Mati Greenspan said (quoted by Bloomberg):

I keep hearing people repeating the question, ‘wen flippening? Even though there’s no guarantee this will ever happen, just looking at the numbers, it does seem like this event is getting closer by the day.

Joe DiPasquale, CEO of BitBull Capital, is also optimistic on the outlook for Ethereum.

“We do like Ether, and we think it’s a major differentiator,” he said. “Bitcoin has been the hundred-pound gorilla, but Ether is really the other hundred-pound gorilla. Everything else trails behind.”

Rounding off the Ethereum bulls is Bodhi Pinkner, an analyst at Arca, who said it’s very possible for the number two crypto to unseat Bitcoin. “We have a favourable view of Ethereum,” he said.

Pinker said Ethereum will become a deflationary asset once the Merge is complete. “So that changing dynamic bodes theoretically well for Ethereum’s price relative to Bitcoin, especially in an environment of tightening.”

Henry Elder, head of decentralized finance at Wave Financial, isn’t convinced we’ll see a flippening anytime soon.

According to Elder (courtesy of Bloomberg):

The Merge is over-hyped from an ETH price-perspective. It’s an incredibly important technological change for Ethereum, but 99.99% of users will experience no difference whatsoever until months or years later. Meanwhile, the impacts of reducing and reallocating issuance will take a while to filter down to ETH prices.

Elder likened the likely impact of the Merge to the Bitcoin halving process.

The Bitcoin price also tends to increase following the pre-programmed halving dates. These occur every four years and cut the reward for Bitcoin mining in half. That’s meant to be deflationary and maintain scarcity.

But as Elder pointed out, the impact on the Bitcoin price following a halving may not be seen in the market for months.

“I wouldn’t be surprised to see [Ethereum] prices pump into the Merge, but I don’t think it’s a sustainable catalyst until the second half of 2023,” Elder said.

The post Bitcoin price dips. Is Ethereum on track to dethrone the top crypto? 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

• 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?
• The Ethereum price just shot up 12%. Here’s why
• Bitcoin or Cardano: which crypto is most widely held among Aussies in 2022?
• Why is the Solana price sinking 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 and Ethereum. The Motley Fool Australia has positions in and has recommended Bitcoin and Ethereum. 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/qZLIv8D