• Why is the BHP share price gaining ground today?

    An engineer takes a break on a staircase and looks out over a huge open pit coal mine as the sun rises in the backgroundAn engineer takes a break on a staircase and looks out over a huge open pit coal mine as the sun rises in the background

    The BHP Group Ltd (ASX: BHP) share price is in positive territory on Thursday afternoon.

    This comes despite the company not releasing any price-sensitive announcements since its fourth quarter trading update.

    At the time of writing, shares in the world’s largest miner are up 0.72% to $37.79.

    What’s lifting BHP shares on Thursday?

    There are a couple of reasons why the BHP share price has been heading north throughout the day.

    The current uptick in iron ore prices is providing support across the mining sector, with most of the majors edging higher.

    Shares in Fortescue Metals Group Limited (ASX: FMG) and Mineral Resources Limited (ASX: MIN) are up 1.10% and 6.21%, respectively.

    However, the Rio Tinto Limited (ASX: RIO) share price is down 0.91% after the company announced a weakened quarterly performance and a 52% dividend cut.

    Nonetheless, this is leading the S&P/ASX 200 Resources (ASX: XJR) index to completely rub out yesterday’s 1.12% loss.

    As such, the benchmark index for Australian resource companies is in the green by 1.59% to 5,141.2 points.

    With the price of the steel-making ingredient recovering from a 7-month low of US$100 per tonne, the market is being driven by hopeful demand.

    Dwindling steel inventories in China have boosted sentiment amid the gloomy economic outlook by economists.

    Currently, the iron ore price is fetching at US$106.24, up 0.22% from yesterday’s close.

    Previously, the commodity experienced selling pressure following the establishment of a centralised iron ore buyer in China.

    As reported by my Foolish colleague, Zach, the Xi administration is aiming to reduce its reliance on Australia’s biggest export.

    The move involves Beijing securing lower iron ore prices through larger bulk purchases from its nationalised company, China Mineral Resources Group.

    BHP share price snapshot

    Over the last 12 months, the BHP share price has fallen almost 19%.

    However, when looking at 2022, the mining outfit’s shares are up around 3%.

    Based on today’s price, BHP commands a market capitalisation of roughly $193.74 billion.

    The post Why is the BHP share price gaining ground today? appeared first on The Motley Fool Australia.

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

    Before you consider Bhp 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 Bhp 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 July 7 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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  • Is the Medibank share price a smart buy for rising inflation?

    A man sits in deep thought with a pen held to his lips as he ponders his computer screen with a laptop open next to him on his desk in a home office environment.A man sits in deep thought with a pen held to his lips as he ponders his computer screen with a laptop open next to him on his desk in a home office environment.

    When it comes to inflation, the Medibank Private Ltd (ASX: MPL) share price might just jump to mind. After all, the costs of all private health insurance (not just Medibank’s) have been rising by more than the rate of inflation for years now.

    But now we’ve just received confirmation that inflation in the Australian economy is at an annualised rate of 6.1% (the highest in decades), ASX investors have inflation to worry about.

    Medibank is the largest provider of private health insurance in the country. It used to be a government-owned company, but was privatised back in late 2014 and listed on the ASX.

    Since that time, the Medibank share price has appreciated by 58.5%. That’s including the 0.3% loss Medibank shares have clocked so far today, putting the company at $3.44 a share. That works out to be a compounded annual growth rate of approximately 6.34%, not including dividend returns.

    So is the Medibank share price a smart buy for rising inflation going forward? Let’s see what one expert investor reckons.

    Is the Medibank share price a buy today?

    According to Livewire, ASX broker UBS has just upgraded its rating on Medibank shares. The broker has raised its rating on Medibank shares from “neutral” to “buy”. That came with a 12-month share price target of $3.90. That’s up from the previous target of $3.35.

    If Medibank shares do rise to $3.90 over the coming year, it would result in an upside for investors of 13.4% from the current share price.

    UBS has identified Medibank as a share to buy in these inflationary times. UBS analyst Scott Russell reportedly cited Medibank’s “relatively stable revenues and predictable margins, improving claims trends assisted by [government] policy, and rising investment yields among its attractive attributes”.

    “Whilst the stock doesn’t look cheap at around 20 times PE [price-to-earnings ratio], we think these attributes are unique amongst financials and attractive at this point in the cycle,” Russell said.

    So that’s a fairly bullish outlook on the Medibank share price. No doubt investors will be happy with that assessment. But we shall have to see what the coming 12 months bring to the table for Medibank shares.

    At the current Medibank share price, this ASX 200 healthcare share has a market capitalisation of $9.47 billion, with a dividend yield of 3.78%.

    The post Is the Medibank share price a smart buy for rising inflation? 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 July 7 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 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 Piedmont Lithium share price piling on 6% today?

    A man clenches his fists with glee having seen the Lake Resources share price go up on the computer screen in front of him.A man clenches his fists with glee having seen the Lake Resources share price go up on the computer screen in front of him.

    The Piedmont Lithium Inc (ASX: PLL) share price is surging higher on Thursday despite the lithium developer’s silence.

    Though, it’s not alone in the green. Many of its lithium peers are also pushing higher.

    At the time of writing, the Piedmont Lithium share price is 59.5 cents, 6.25% higher than its previous close.

    The broader market is also in the green right now. The All Ordinaries Index (ASX: XAO) is boasting a 0.98% gain.

    Let’s take a closer look at what’s going on with Piedmont Lithium and its peers on Thursday.

    Piedmont Lithium share price on the march

    The Piedmont Lithium share price is continuing to charge up on Thursday after a period of woes for the stock.

    It plunged around 45% between the end of May and the start of June amid a broader lithium sell-off. But last week marked a turnaround for the lithium developer.

    Its shares picked up 12% over the course of five days to yesterday. It’s now seemingly building on that strong performance, adding another 6% to its share price.

    Meanwhile, S&P/ASX 200 Index (ASX: XJO) materials shares are besting the market’s performance, with the S&P/ASX 200 Materials Index (ASX: XIJ) lifting 1.13%.

    Among its best performers are lithium stocks Liontown Resources Limited (ASX: LTR), Pilbara Minerals Ltd (ASX: PLS), and Lake Resources NL (ASX: LKE). They’ve gained 5.4%, 5.1%, and 4.7%, respectively.

    Piedmont Lithium is developing a lithium project and lithium hydroxide plant in the United States. Its initial production is yet to be announced.

    The company also holds interest in two further projects, located in Ghana and Canada. The latter is expected to begin production in 2023.

    Sadly, this year hasn’t been kind to the Piedmont share price. It has fallen 23% since the start of 2022. It’s also currently 12% lower than it was this time last year.

    The post Why is the Piedmont Lithium share price piling on 6% today? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Piedmont Lithium Ltd right now?

    Before you consider Piedmont Lithium 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 Piedmont Lithium 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 July 7 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 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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  • Macquarie share price lifts as CEO spruiks ‘very good inflation protection’

    A person sitting at a desk smiling and looking at a computer.A person sitting at a desk smiling and looking at a computer.

    The Macquarie Group Ltd (ASX: MQG) share price is 2.86% higher today at $178.70 at the time of writing.

    Australia’s ‘fifth big four’ bank held its annual general meeting and provided a Q1 FY23 update today.

    As my Fool colleague James reported earlier, Macquarie said favourable trading conditions had resulted in a lift to net profit contributions above the prior corresponding period of Q1 FY22.

    The highlight was its annuity-style businesses, which delivered a “significantly” stronger result on the pcp.

    What did the Macquarie CEO say?

    According to reporting in The Australian, Macquarie CEO Shemara Wikramanayake said rising interest rates should not hit infrastructure assets as hard as other investment asset classes.

    She said infrastructure assets have historically performed better because operators can pass on the cost of rising rates to consumers.

    In a media conference, Wikramanayake said:

    Some of the reasoning behind that is these assets have very good inflation protection in them, whether they’re regulated utilities or they are toll roads.

    Typically they’re able to capture the inflation aspects in the revenue line.

    Despite discount rates going up in a rising rate environment and all asset prices being brought down, infrastructure-like assets have proven more resilient.

    Macquarie share price snapshot

    Like most ASX shares, Macquarie has declined in value over the year to date due to the market sell-off.

    The Macquarie share price is down 13% since the opening bell on 4 January.

    The S&P/ASX 200 Index (ASX: XJO) is down 8%. The S&P/ASX 200 Financials Index (ASX: XFJ) is down 4%.

    The post Macquarie share price lifts as CEO spruiks ‘very good inflation protection’ 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 July 7 2022

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    Motley Fool contributor Bronwyn Allen has positions in Macquarie Group 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 recommended 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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  • Sezzle share price surges another 40% following speeding ticket response

    Happy man doing online shopping.Happy man doing online shopping.

    The Sezzle Inc (ASX: SZL) share price has come out of a trading halt to continue its steep ascent after rocketing 96% yesterday.

    At the time of writing, the buy-now-pay-later (BNPL) share is up a massive 39.72%, at 98.5 cents.

    It’s also worth noting that the Sezzle share price is up almost 360% in the past week.

    What’s happened?

    As baffling as it might suggest, investors were buying up Sezzle shares in droves regardless of the company keeping a quiet profile.

    A sharp turnaround from trading 26 cents on Tuesday, the share price lifted off to hit as high as 79 cents yesterday.

    This prompted the stock exchange operator, ASX Ltd (ASX: ASX) to issue a ‘please explain letter’.

    Its shares were placed in a trading halt pending a response.

    Sezzle didn’t reply until earlier today regarding the ASX price query.

    The company said it is “not aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities.”

    It did note that “on the date in question that the entire sector strongly outperformed the market in terms of price and relative historical trading volume.”

    An unusually large number of Sezzle shares were traded – more than 25 million in total for the day. Notably, this is the biggest volume that has exchanged hands since July 2020 during COVID-19.

    Sezzle pointed out that it believes “investors led the increase in trading activity, because of the sector having been significantly down in recent weeks.”

    The company’s shares hit an all-time low of 18.5 cents on 14 July following significant losses in the days prior.

    My Foolish colleague, Brooke spoke about the negative sentiment surrounding Sezzle shares at the time.

    Today’s share price movement also appears to be supported by a strong trading session on the NASDAQ overnight.

    The benchmark index rose 4.26% to 12,601 points – the highest level it has been since early June.

    Sezzle share price snapshot

    It has been a difficult 12 months for the Sezzle share price, tumbling by almost 90% despite the recent gains.

    The company’s shares have suffered from what most economists are predicting as a gloomy economic outlook for the near term.

    Year-to-date, Sezzle shares are down almost 70%.

    The post Sezzle share price surges another 40% following speeding ticket response appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Sezzle Inc right now?

    Before you consider Sezzle Inc, 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 Sezzle Inc 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 July 7 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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  • 3 ASX lithium shares going gangbusters on Thursday

    A superhero of power and lightning is fully charged and looking to the future as two brokers weigh in on the outlook for the CBA share price

    A superhero of power and lightning is fully charged and looking to the future as two brokers weigh in on the outlook for the CBA share price

    ASX lithium shares are broadly enjoying a strong run today, with industry heavyweight Core Lithium Ltd (ASX: CXO) up 4.3% during the lunch hour.

    The All Ordinaries Index (ASX: XAO) is also up a respectable 0.7% on the back of positive investor reaction to the US Federal Reserve’s 0.75 interest rate hike.

    But three ASX lithium stocks leading the charge today are up 13%, 19% and 17% respectively.

    ASX lithium shares charging higher

    First up we have Neometals Ltd (ASX: NMT).

    The Neometals share price is up 13.0% today. The miner closed yesterday trading for $1.04 per share and is currently trading for $1.117 per share. That gives it a current market cap of some $625 million.

    There’s been no fresh market sensitive news out from the company since it announced a shakeup in its battery recycling project schedule on 14 July. But investors are continuing to favour the ASX lithium share, which is now up 24% over the past month.

    Also charging higher today is Africa-focused battery minerals explorer Prospect Resources Ltd (ASX: PSC).

    Prospect Resources finished the day yesterday trading for 8.3 cents and is currently trading for 9.9 cents per share, an intraday gain of 19.3%.

    If you’ve been following along with Prospect Resources, you’ll have noticed that the ASX lithium share appeared to crash yesterday, tumbling from $1.01 to close at 8 cents, down 92.1% for the day.

    But as the Motley Fool reported yesterday, this crash wasn’t actually bad news for shareholders. It came after the company distributed most the proceeds from the sale of its holdings in the Arcadia Project for the tidy sum of US $342.9 million “by way of a 96 cents per share distribution”.

    Yesterday Prospect Resources traded ex-capital return, seeing the share price drop 93 cents as new investors will no longer be eligible for the 96-cent share distribution.

    Rounding off today’s leaders list

    Rounding off the ASX lithium shares going gangbusters today we have Lithium Power International Ltd (ASX: LPI).

    Lithium Power shares closed yesterday at 46 cents and are currently trading for 54 cents, up 17.4% in intraday trading. That gives the explorer a market cap of $185 million.

    The last market sensitive news from the company came out more than a month ago.

    But as with Neometals, Lithium Power has had a tremendous month, with shares up 31% since 28 June.

    That momentum looks to be carrying on today as investors broadly reward ASX lithium shares amid a strong demand outlook for the critical battery metal.

    The post 3 ASX lithium shares going gangbusters on Thursday 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 July 7 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 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 Tyro share price tearing 18% higher today?

    The Tyro Payments Ltd (ASX: TYR) share price is rallying well into the green in afternoon trade on Thursday.

    At the time of writing, the Tyro share price is trading 17.61% higher at 83.5 cents. That’s a shade above its 52-week low of 60 cents on 30 June but way down on its 52-week high of $4.39 recorded back in September last year.

    In broad market moves, the S&P/ASX All Technology Index (ASX: XTX) is up 2.28% on the day.

    What’s up with the Tyro share price?

    Despite no news out of Tyro today, the financial technology company did post its weekly transaction value (TV) update on Monday.

    Recall that Tyro committed to providing weekly TV updates until its FY22 results were released.

    In the first round for H1 FY23, the company showed a 46% year-on-year increase from 1 July to 22 July.

    This equalled roughly $2.4 billion compared to FY22’s $1.63 billion up until the same point in July. However, the Tyro share price fell 5% on the day of the release.

    Aside from that, the payments sector is up today amid the release of Australia’s latest inflation data.

    As Banking Today notes: “Tyro’s business model is highly exposed to over-the-counter card transactions.” That’s a potential tailwind in a high-inflation environment.

    This comes after the US Federal Reserve announced another 0.75% interest rate hike overnight to a range of 2.25%–2.5%.

    Fed chair Jerome Powell said he “anticipates that ongoing increases in the target range for the federal funds rate will be appropriate”.

    The move is “the fastest tightening of monetary policy since former Fed Chair Paul Volcker battled double-digit inflation in the 1980s”, Reuters reported.

    Surprisingly, bond markets received the news quite well, with yields on long-dated Australian and US government bonds continuing to retrace downward in a longer-term trend.

    The yields on long-dated treasuries often serve as a proxy for the valuation of risk assets, tech shares in particular. An increase in yields results in a de-rating to tech multiples, for example.

    Hence, with the pullback in yields, the field is ripe for ASX tech shares such as Tyro to catch a bid, as seen below.

    Despite this, the Tyro share price is down more than 75% in the past 12 months.

    TradingView Chart

    The post Why is the Tyro share price tearing 18% higher today? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Tyro Payments Ltd right now?

    Before you consider Tyro Payments 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 Tyro Payments 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 July 7 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 Tyro Payments. The Motley Fool Australia has recommended Tyro Payments. 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 mining share is rocketing 16% on a new rare earths discovery

    A woman is excited as she reads the latest rumour on her phone.A woman is excited as she reads the latest rumour on her phone.

    The S&P/ASX 200 Materials Index (ASX: XMJ) is rising 1.47% today, but one ASX mining share is storming much higher.

    The Dreadnought Resources Ltd (ASX: DRE) share price is soaring 15.79% at the time of writing and is currently trading at 6.6 cents.

    So what are the details of this company’s new discovery?

    ASX mining share makes high-grade rare earth discovery

    Dreadnought today released assay results from the first drill line at the Yin rare earth ironstone, located at the company’s Mangaroon project in Western Australia.

    Laboratory assays confirmed thick, high-grade rare earth mineralisation at the project.

    Results show up to 16% total rare earth oxides (TREO) with an average NdPr (neodymium and praseodymium) ratio of 30%. Dreadnought said this is nearly double the global average.

    Infill drilling at the site is taking place now and an initial JORC Resource will be released in the December quarter.

    Commenting on the results fuelling this ASX mining share today, managing director Dean Tuck said:

    Drilling at Yin continues to exceed expectations. With a second rig mobilising to site this month, we are confident that Yin will produce a substantial initial JORC Resource by the end of 2022.

    Tuck said once drilling is complete, the rigs will proceed to the Y3 ironstone and C1-C5 carbonatites. He added: “We are seeing genuine scale here with runs already on the board and 66 further anomalies to be assessed by September 2022.”

    Dreadnought share price recap

    The Dreadnought share price has soared 61% in the year to date and 65% in the past month.

    For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) has fallen nearly 9% year to date and 4% in the last month.

    This ASX mining share has a market capitalisation of nearly $185 million based on the current share price.

    The post Guess which ASX mining share is rocketing 16% on a new rare earths discovery 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 July 7 2022

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

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  • Why did ASX buy now, pay later share Laybuy just rocket 95%?

    Happy woman shopping online.

    Happy woman shopping online.It’s been a pretty pleasant day so far for ASX shares. At the time of writing, the All Ordinaries Index (ASX: XAO) has added a robust 0.68% and has risen above 7,080 points. But it’s been even better for the Laybuy Holdings Ltd (ASX: LBY) share price today.

    Laybuy shares have rocketed an astonishing 55.84% so far today. The buy now, pay later (BNPL) share closed at 7.7 cents a share yesterday, but is now going for 12 cents at the time of writing after opening at 9.1 cents this morning. What’s more, this company went as high as 15 cents earlier in today’s trading session, which was worth a rise of almost 95% at the time.

    The strange thing is that this stratospheric share price gain seems to have come out of the blue. There has been no news or announcements out of Laybuy itself today. Or indeed since 30 June.

    But this isn’t the first time Laybuy shares have given investors a day to remember. Just yesterday, the company rose from 4 cents a share to 7.7 cents, a one-day increase of almost 100%. Today’s pricing means that Laybuy is now up 200% since Tuesday afternoon.

    Laybuy shares get an ASX speeding ticket

    These incredible gains have not gone unnoticed by the higher powers of the ASX. Just before market open this morning, Laybuy revealed that it had received a ‘speeding ticket’ from the ASX for yesterday’s rocketing gains.

    When asked if the company can explain yesterday’s gains, Laybuy responded that it knew of nothing that could explain these share price moves. However, it did point the finger at some other factors that could have been in play.

    Here’s some of what the company said:

    Laybuy notes the very material share price increases of other companies in the Buy Now Pay Later sector during the course of 27 July 2022, in particular Sezzle, Zip and Openpay. Laybuy believes that the recent trading in its securities may have been driven by the same factors that influenced the trading in some or all of those other securities.

    ASX BNPL shares jump on a rocket

    Indeed, it’s not just Laybuy shares that have been throwing off impressive gains of late. The Zip Co Ltd (ASX: ZIP) share price rose more than 21% yesterday and is up another 14% today so far at $1.42 a share.

    Openpay Ltd (ASX: OPY) shares rose 30% yesterday and are up another 32.84% so far today at 44 cents a share.

    And Sezzle Inc (ASX: SZL) shares rose more than 97% yesterday and a further 17.7% so far today to 83 cents a share.

    Zip and Openpay have not yet been pinged by the ASX for these massive increases in valuation (at the time of writing). However, Sezzle shares were halted from trading yesterday afternoon after the company received a speeding ticket of its own. The shares have obviously returned to trading today.

    So all in all, no one knows why Laybuy and these ASX BNPL shares have jumped on a rocket this week. It just seems to be the result of some very potent buying pressure at this stage. But no doubt there are many ASX BNPL share investors out there today who are in a very jubilant mood.

    The post Why did ASX buy now, pay later share Laybuy just rocket 95%? 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 July 7 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 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.

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  • Why is the Telstra share price lagging the ASX 200 on Thursday?

    a young man sits on the floor with his back against a sofa hunched over his phone in one hand and his other hand on top of his head as though he is seeing bad news as his face looks sad and anguised.a young man sits on the floor with his back against a sofa hunched over his phone in one hand and his other hand on top of his head as though he is seeing bad news as his face looks sad and anguised.

    The Telstra Corporation Ltd (ASX: TLS) share price is trading in the red on Thursday despite the S&P/ASX 200 Index (ASX: XJO)’s day in the sun.

    In fact, the telecommunications giant is its sector’s worst-performing stock right now.

    At the time of writing, the Telstra share price is $3.905, 0.38% lower than its previous close.

    For comparison, the ASX 200 has gained 0.63% so far today, while the S&P/ASX 200 Communication Index (ASX: XTJ) is up 0.58%.

    So, what might be going wrong for Telstra shares? Let’s take a look.

    What’s going on with the Telstra share price?

    The Telstra share price is struggling against its ASX 200 peers on Thursday despite no news having been released by the telco giant.

    In fact, the last time the market heard price-sensitive news from the company was a fortnight ago when it announced it had completed its acquisition of Digicel.

    Though, a deal between the telco and tech giant Microsoft was announced earlier this week. Telstra CEO Andrew Penn said the agreement – one of the largest Microsoft has ever signed with a telco – is “on a scale not seen before in Australia”.

    Sadly, news of the deal didn’t bolster Telstra’s stock. It’s fallen 1.4% this week so far.

    Meanwhile, many of its ASX 200 communication peers are well and truly in the green today.

    The communication sector is being led by shares in Domain Holdings Australia Ltd (ASX: DHG) and SEEK Limited (ASX: SEK). They’ve gained 4% and 3.6%, respectively, at the time of writing.

    Fortunately, this week’s struggles haven’t seriously dented the company’s longer-term performance.

    The Telstra share price has outperformed the ASX 200 year to date, falling 7% compared to the index’s 10% tumble. The stock is also currently almost 4% higher than it was this time last year.

    The post Why is the Telstra share price lagging the ASX 200 on Thursday? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Telstra Corporation Ltd right now?

    Before you consider Telstra Corporation 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 Telstra Corporation 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 July 7 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 positions in and has recommended Microsoft. The Motley Fool Australia has positions in and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended SEEK 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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