The Bitcoin (CRYPTO: BTC) price is down 3.5% over the past 24 hours.

The world’s top crypto by market cap is currently trading for US$21,112 (AU$30,283).

This comes after the Bitcoin price topped 30-day highs just last Thursday when the token traded for US$24,196, according to data from CoinMarketCap.

With the latest drop factored in, Bitcoin is now down 56% in 2022, temporarily diminishing hopes of a new, sustained price rally.

What needs to happen for a sustained Bitcoin price rally?

Almost every crypto – save those stablecoins that didn’t meltdown – have traded closely in line with share markets in 2022. Particularly higher risk assets.

This year’s crypto fire sale has mirrored (and magnified) the 26% year-to-date losses posted by the tech-heavy NASDAQ.

While cryptos’ correlation to stock markets may eventually come uncoupled, it’s not one of the factors analysts are waiting for to see a sustained rally in the Bitcoin price.

Instead, one of the requirements is an easing of the US Federal Reserve’s current path of aggressive tightening.

As market analyst at eToro Josh Gilbert pointed out, that will only happen once inflation figures in the world’s largest economy come down.

According to Gilbert:

Crypto asset prices have rallied off their June lows, following equities higher as investors become more comfortable with the economic growth outlook. But markets are not yet out of the woods and need to see a clear fall in US inflation for this bear market rally to become sustainable.

Chief market strategist at Miller Tabak + Co Matt Maley agrees that the US Fed holds one of the keys to a digital asset rally.

“Crypto is a liquidity asset right now, so as long as the Fed is tightening, it’s going to be hard for it to see a sustained rally,” Maley said (courtesy of Bloomberg).

Maley added a second factor that could lead to a sustained rally in the Bitcoin price, namely confidence.

“Second, the asset class has lost a lot of confidence with investors, so it’s going to take time for it to regain that confidence,” he said.

The post 2 things need to happen for a sustained Bitcoin price rally: experts appeared first on The Motley Fool Australia.

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• Why Bitcoin, Ethereum, and Shiba Inu are falling today
• Can Ethereum reach $10,000?
• Will Ethereum and Bitcoin see the ‘flippening’ in 2022?
• Why Bitcoin, Ethereum, and Dogecoin are falling today
• Tesla sells 75% of Bitcoin holdings. Here’s why Elon Musk is unloading

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

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What a rollercoaster the Novonix Ltd (ASX: NVX) share price has been on in recent weeks. Last week, the battery metals company delighted investors with a whopping near-27% gain. Yes, Novonix shares rose from $2.02 to $2.56 by the end of last week, a gain of 26.73%.

But this week has been far more muted for the company. Yesterday saw the Novonix share price shed a painful 5.47% to finish at $2.42 a share. That has only been somewhat assuaged by the 2.07% gain to $2.47 we have seen at market close today. So what on earth is going on here?

Well, let’s start with last week. As my Fool colleague Monica covered at the time, Novonix shares seemed to get an almighty boost from the comments of Tesla Inc (NASDAQ: TSLA) CEO Elon Musk.

As head of the world’s largest electric vehicle manufacturer, Musk obviously has some insights into the lithium industry. So investors seemed to take it very seriously when Musk declared the following:

So it is basically like minting money right now. There’s like software margins in lithium processing right now.

Since Novonix is a lithium processor, investors were clearly excited. Enough to send the Novonix share price up almost 27% anyway.

But what of this week?

Why is the Novonix share price struggling this week?

Well, there’s been no additional news or developments out from Novonix. So perhaps Novonix shares have been caught up in the woes that have hit ASX tech shares this week. After a stellar week last week, many ASX tech shares have taken a hammering so far.

As my Fool colleague covered yesterday, ASX tech shares have come under pressure following some recent heavy selling in the equivalent sector in the US. This comes after some disappointing earnings reports, from social media company Snap Inc (NYSE: SNAP) in particular.

So even though Novonix isn’t a social media share, it looks as though its shares have been caught up in this anxiety nonetheless.

Whatever the reason, no doubt investors will be hoping the rest of the week is kinder to Novonix shares. But we shall have to wait and see.

In the meantime, the current Novonix share price gives this ASX battery tech share a market capitalisation of $1.21 billion.

The post After gaining 27% last week, the Novonix share price is struggling this week. What gives? appeared first on The Motley Fool Australia.

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More reading

• Why is the Novonix share price surging 9% on Thursday?
• 3 ASX 200 tech shares having a stellar session today
• ‘You can’t lose’: Which ASX lithium shares operate in Musk’s sweet spot?
• Why is the Novonix share price launching 5% higher today?
• Down 76% this YTD, can the Novonix share price claw back gains?

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

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The Xero Limited (ASX: XRO) share price has had a very volatile 2022 so far. In recent weeks, it has been rising and top broker Citi has a positive outlook for the company’s ongoing growth.

Xero is a large cloud accounting technology business. It has built a global subscriber base, with a particularly large presence in Australia, the United Kingdom, and New Zealand.

At the time of writing, the Xero share price is down 39% in 2022. That compares to a 10% fall for the S&P/ASX 200 Index (ASX: XJO). However, since the beginning of July, Xero shares have gone up by 16%.

There has been a lot of investor attention on inflation and what this means for central bank interest rates. In theory, higher interest rates are meant to lead to lower asset values.

The ASX and other share markets are meant to be forward-looking. In other words, investors have tried to ‘price in’ the expected changes in the economic environment. Investors have estimated where they think interest rates will go, and therefore how various ASX shares should be valued.

Some brokers are seeing opportunities in the sell-off.

Bullish Xero share price target

Citi is one of the brokers that rates Xero a buy with a share price target of $108. Based on Tuesday’s closing Xero share price of $89.18, this implies a possible rise of around 20%.

One of the main reasons for that price target is the fact that the company is increasing its prices for subscribers in the UK, Australia, and New Zealand. Not only does this imply that Xero management thinks the company’s market strength is good, but it can also lead to increased revenue.

Citi thinks that the higher subscription price will lead to a rise of close to 10% for Xero’s average revenue per user (ARPU), which could lead to the business doing better than previously predicted.

The broker also noted that Xero has been hiking its subscription prices at a faster rate than it used to.

Morgan Stanley is another broker that is optimistic about the Xero share price with a target of $148. But this rating is a bit older than Citi’s. Morgan Stanley is also optimistic about the company’s long-term future.

Xero is also focused on the long term. When the company released its FY22 results, Xero CEO Steve Vamos said:

We are committed to delivering the world’s most insightful and trusted small business platform by focusing on driving cloud accounting adoption, growing the small business platform and building for global scale and innovation.

We continue to prioritise investment in building products and growing partnerships by investing cash generated to help deliver our strategy, drive long-term growth and meet customer needs.

The post Top broker rates Xero share price a buy with 20% upside appeared first on The Motley Fool Australia.

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More reading

• Why are ASX 200 tech shares having such a lousy start to the week?
• Is the Xero share price heading back over $100?
• 3 fantastic ASX tech shares experts say are buys
• Here are the top 10 ASX shares today
• ASX 200 midday update: Megaport rockets, Allkem’s update, tech shares rally

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended 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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ASX 200 energy shares jumped today amid rising oil and gas prices.

Energy shares that finished in the green include Woodside Energy Group Ltd (ASX: WDS), Santos Ltd (ASX: STO), and Beach Energy Ltd (ASX: BPT).

So why did these ASX 200 energy shares have such a good day?

Rising oil and gas prices

Woodside and Santos shares jumped almost 3% while the Beach Energy share price gained just over 4%. These ASX 200 energy shares are major oil and gas producers.

On commodity markets, the West Texas International (WTI) crude oil price is up 1.26% while the Brent crude oil price is 1.37% higher, according to Bloomberg.

Natural gas prices are also up 1.17%.

Oil prices increased in US markets on Monday due to supply fears, Reuters reported. Commenting on the rise, UBS oil analyst Giovanni Staunovo told the publication:

A slightly weaker U.S. dollar and improving equity markets are supporting oil.

Meanwhile, gas prices also jumped amid supply concerns. Russian energy giant Gazprom said it would cut gas flows to Germany to 33 million cubic metres a day from Wednesday, Reuters reported.

This led to Ukraine President Volodymyr Zelenskiy to suggest the Kremlin is engaging in an “open gas war” against Europe.

Share price summary

Woodside shares have surged 44% in the year to date while Santos shares have gained 14%. Meanwhile, the Beach Energy price has increased 45% in the same time frame.

For perspective, the S&P/ASX 200 Energy Index (ASX: XEJ) has gained 28% in the year date.

The post Why did ASX 200 energy shares fire up on Tuesday? appeared first on The Motley Fool Australia.

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More reading

• Own Santos shares? Here’s why the company’s international exports could come under pressure
• Why is the Beach Energy share price having such a top run on Tuesday?
• 5 things to watch on the ASX 200 on Tuesday
• Own Woodside shares? Here’s why this $7 billion deal could be at risk
• Leading brokers name 3 ASX shares to buy today

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

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The Magellan Financial Group Ltd (ASX: MFG) share price has had a rough trot recently. It has tumbled 33% so far in 2022 and a whopping 73% over the last year.

The stock’s plunge came amid Magellan losing a major contract in December, waving goodbye to its co-founder and star stock-picker Hamish Douglass in March, and recording $52.6 billion in funds under management (FUM) outflows over the last 12 months.

At the time of writing, the Magellan share price is $14.04. And, now, one major broker has tipped it to tumble another 36%.

Let’s take a look at what’s made Morgan Stanley increasingly bearish on the S&P/ASX 200 Index (ASX: XJO) asset management business.

Magellan share price tipped to fall to $9

That’s right, Morgan Stanley has reportedly slapped Magellan shares with a $9 price target amid its increasingly bearish view of the company’s sector.

Morgan Stanley analysts also cut financial year 2023 earnings expectations for the asset management sector by between 10% and 30%, saying they didn’t see much to like, according to reporting in the Australian Financial Review.

And the main reason behind the broker’s pessimism is, perhaps unsurprisingly, outflows. The analysts were quoted as saying:

Investment performance has been improving across the group and there is less passive pressure in Australia than in the US, but growth options are limited across the group and we think a broad recovery to inflows is unlikely.

It’s worth nothing Morgan Stanley’s bearish outlook on Magellan shares isn’t new.

Indeed, the broker had previously tipped the Magellan share price to fall to $11 and marked it with an ‘underweight’ rating, as the Motley Fool Australia’s James Mickleboro reported in May. FUM outflows were also behind its cynical forecast then.  

Magellan had a total of $61.3 billion of FUM at the end of last month. That’s down from $113.9 billion at the same point in 2021.

The post Morgan Stanley forecasts Magellan share price will sink 35% appeared first on The Motley Fool Australia.

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• Why has the Magellan share price leapt 21% in a week?
• Here are the top 10 ASX shares today
• What market prediction sent the Magellan share price spiking 9% today?
• ‘Important period’: Here’s why the Magellan share price is shedding today
• Is the Magellan share price on course for a recovery in FY23?

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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Santos Ltd (ASX: STO) shares are up 2.7% in afternoon trade at $7.18 per share.

The S&P/ASX 200 Index (ASX: XJO) energy company is among the minority of stocks in the benchmark index posting solid gains in 2022.

That’s largely thanks to soaring global oil and gas prices, offering the company some heady profits on its domestic sales and international exports.

But Santos shares could come under pressure if its international exports are curtailed.

What are the concerns over the gas trigger?

You’ve probably heard of the gas trigger.

It’s part of the Australian Domestic Gas Security Mechanism. And it enables the government to compel the major liquid natural gas (LNG) exporters to curtail some of their exports from their Queensland plants in favour of selling into the Australian market in case of an energy crisis.

That energy crisis is now upon us, with Victoria facing a gas crunch through the end of September. And as The Australian reports, the Gladstone LNG project – controlled by Santos alongside its partners Petronas, Total and Kogas ­– wants the emergency gas legislation amended.

Gladstone is the only LNG project that’s exporting gas from the domestic market. That means unlike the LNG projects owned by the other two top producers – Origin Energy Ltd (ASX: ORG) and Shell, which are both net contributors to the domestic market – Santos’ project is in net deficit.

In a nutshell that means if the gas trigger is pulled, the onus may fall entirely on Gladstone to sell extra gas into the Aussie market to stave off an energy crisis.

Though Santos has yet to comment, The Australian reported on sources indicating Santos’ Gladstone LNG project wants the net contributor part of the gas trigger abolished, as it doesn’t account for the fact its gas has already been contracted to overseas customers.

The energy security mechanism was slated to end in December this year, but Resources Minister Madeleine King said earlier this month that it will be extended to 2030.

How have Santos shares been performing?

Over the past 12 months, Santos shares have handily outperformed the benchmark, gaining 11% while the ASX 200 has fallen 8%.

The post Own Santos shares? Here’s why the company’s international exports could come under pressure appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Tuesday
• Leading brokers name 3 ASX shares to buy today
• 5 things to watch on the ASX 200 on Monday
• Top brokers name 3 ASX shares to buy next week
• Why Leo Lithium, Rio Tinto, Santos, and Woodside shares are dropping today

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

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These are two metrics that might sugggest that the BetaShares NASDAQ 100 ETF (ASX: NDQ) is a no-brainer buy for a long-term investor’s share portfolio today.

The first is its long-term performance record. Over the past five years, this exchange traded fund (ETF) has delivered an impressive average return of 18.22% per annum. Since its inception in May 2015, NDQ has averaged 16.6% per annum.

Considering an ASX-based index fund like the Vanguard Australian Shares Index ETF (ASX: VAS) has averaged just 6.88% per annum over the past five years, NDQ investors might feel rather grateful they had branched out from ASX shares over the timeframe.

The second metric is the steep drop NDQ units have suffered over 2022 thus far. It has been a rather brutal year to date for the BetaShares NASDAQ 100 ETF. Between 1 January and 30 June 2022, NDQ units have lost a painful 25.4%.

So we have a long-term performer that has just suffered a major dip. Some investors might see the perfect mix here for a ‘buy the dip’ opportunity. But is it as simple as that?

Is it buy the dip time for the NASDAQ 100 ETF?

The NASDAQ 100 ETF is an index fund at the end of the day. It covers the 100 largest shares on the US Nasdaq Composite (INDEXNASDAQ: .IXIC). Yes, the NASDAQ has had a golden decade of sorts, driven largely by the stellar returns of the FAANG stocks such as Apple Inc (NASDAQ: AAPL), Amazon.com Inc (NASDAQ: AMZN), and Aphabet Inc (NASDAQ: GOOG)(NASDAQ: GOOGL).

But we have seen periods of immense returns for the NASDAQ before. Between March 1992 and March 2000, the NASDAQ appreciated by more than 700%. That’s almost twice the gain that the NASDAQ experienced over the eight years to November 2021.

But here’s what investors should remember. The NASDAQ also lost around 75% of its value between March 2000 and March 2003. It would take until March 2015 for the NASDAQ to recover to the heights we saw in the dot-com peak of March 2000.

I’m not suggesting this will happen again. But what I am suggesting is that an investment can look like a no-brainer if we look at a five-year performance chart. But it’s only after we zoom out and get the fuller picture that past patterns can really be appreciated.

There is one big difference between 2000 and today though. Back in 2000, the NASDAQ was full of companies that had yet to become profitable. Today, the NASDAQ is dominated by some of the most profitable companies in the world. For that reason, I still think the BetaSahres NASDAQ 100 ETF is a no-brainer buy today for a long-term investor.

The post Is the NDQ ETF a no-brainer buy right now? appeared first on The Motley Fool Australia.

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• 3 high quality ETFs for ASX investors to buy today
• I think the Betashares Nasdaq 100 ETF looks like a strong buy
• What’s in store for the BetaShares NASDAQ 100 ETF in the next 12 months?
• 2 beaten down ETFs for ASX investors to buy
• Here are 3 fantastic ETFs for ASX investors to buy now

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen has positions in Alphabet (A shares), Amazon, and Apple. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, and BETANASDAQ ETF UNITS. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has positions in and has recommended BETANASDAQ ETF UNITS. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, and Apple. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) is enjoying a decent day of trading as it currently stands this Tuesday.

At the time of writing, the ASX 200 has gained 0.28% and is back above 6,800 points. That’s despite a couple of dips into negative territory so far today.

Let‘s dive a little deeper and check out the ASX 200 shares currently at the top of the trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Tuesday

South32 Ltd (ASX: S32)

First up today is diversified mining company South32. This ASX 200 miner has had a notable 12.38 million shares change hands on the markets this Tuesday. There’s been no fresh news from South32 today. Saying that, the miner did release a well-received quarterly update yesterday.

It seems sentiment is continuing to coalesce around South32 today. The company is currently up a pleasing 4.35% at $3.72 a share. This is probably the reason for the higher trading volumes we are seeing.

Pilbara Minerals Ltd (ASX: PLS)

Another mining company is next in lithium producer Pilbara Minerals. This ASX 200 lithium stock has had a sizeable 14.83 million of its shares bought and sold thus far. There’s been no news out of Pilbara, either today or this week. So, this elevated volume is probably a consequence of the Pilbara share price rise. It’s enjoying a healthy gain this Tuesday, clocking in a 2.17% increase to $2.60 at the time of writing.

Zip Co Ltd (ASX: ZIP)

Lastly today, we have ASX 200 buy now, pay later (BNPL) share Zip Co. Zip has had a whopping 29.47 million of its shares trade on the share market today.

We don’t have to look too far on this one. This volume is almost certainly the result of the massive share price movements we have seen with Zip.

As we covered earlier, Zip is currently up an impressive 19.3% at $1.02 a share. It rose by as much as 24% to $1.07 earlier in the day. No wonder so many shares have been flying around.

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

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More reading

• Why Myer, South32, Vulcan, and Zip shares are racing higher
• Why are ASX buy now, pay later shares rocketing higher today?
• Zip share price soars 24% to break $1 mark for first time in 2 months
• ASX 200 midday update: Iress sinks on CEO exit, Flight Centre shares descend
• Rocks in their heads? How young investors helped make Pilbara Minerals one of the most popular shares of FY22

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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The Lake Resources NL (ASX: LKE) share price is lifting higher in afternoon trade on Tuesday.

At the time of writing, the ASX lithium share is swapping hands at 72.5 cents apiece, 5.07% in the green. Investors have bid the share higher on no news.

In broader market moves, the S&P/ASX 300 Metals and Mining Index (ASX: XMM) is up around 1.75% on the day.

What’s behind the Lake Resources share price?

Curiously, the share has routinely found itself on the most shorted ASX shares list over the past few weeks.

This occurred up until yesterday when Lake had short interest of 9.2%, placing it on the list of the top 10 most shorted shares.

Prior to this, Lake had caught a bid on 19 July after shrugging off research from notorious short-bias firm J Capital.

Lake had pushed back on claims in a J Capital report that it had “put forth incorrect information on technical matters”.

Noteworthy is the price of lithium as well. It continues to remain buoyant as many other commodity prices fall.

Trading Economics reports:

Lithium carbonate prices in China moved sideways at the 475,500 yuan/tonne (A$101,145/tonne) level through July, remaining near the record-high of 500,000 (A$106,356) from March and 430% higher year-on-year as demand continued to increase.

As seen on the chart below, the Lake Resources share price and the price of lithium tend to track each other closely. Returns since March 2022 are plotted on the chart below.

Meanwhile, Lake Resources is rated as a buy from 100% of the brokers covering the share, according to Refinitiv Eikon data.

The consensus price target from this list is $2.56 per share, suggesting considerable upside potential from the current market price should these brokers be correct.

In the past 12 months, the Lake Resources share price has held onto a 75% gain, despite a 28% loss this year to date.

The post Why has the Lake Resources share price surged 16% in a week? appeared first on The Motley Fool Australia.

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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 no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Flight Centre Travel Group Ltd (ASX: FLT) share price is sliding today.

The travel company’s share price is falling 4.31% and is currently trading at $16.86. However, in earlier trade, the Flight Centre share price had fallen 5.21% before recovering slightly.

For perspective, Flight Centre shares leapt nearly 3% yesterday. Furthermore, the S&P/ASX 200 Index (ASX: XJO) is 0.26% higher today.

Let’s take a look at what is happening at Flight Centre.

Broker updates

Flight Centre shares are not the only ASX 200 travel shares dipping today. The Webjet Limited (ASX: WEB) share price is falling 1.67%, while Qantas Airways Limited (ASX: QAN) shares are down 1.96%.

Goldman Sachs has placed a neutral rating on the company’s shares with a $20.90 price target. This is nearly 24% more than the current share price. Previously, as my Foolish colleague Aaron reported, Goldman had a $20.40 price target on the company’s share price.

However, Credit Suisse has placed an underperform rating on the company’s shares with a $14 price target. Morgans has also expressed concern the company’s earnings may not go back to pre-COVID levels until FY2025.

Yesterday, Flight Centre shares surged on the back of the company’s upgraded guidance for the 2022 financial year.

The travel company reported it is expecting to report an EBITDA loss of $180 million to $190 million for FY2022. This is 11.9% better than the halfway point of the company’s previous FY2022 guidance.

Commenting on the results, managing director Graham Turner said:

After an incredibly challenging period, we were pleased to achieve our goal of returning to
monthly underlying EBITDA profitability in both the corporate and leisure sectors late in the
year

Flight Centre said the scale of the travel recovery exceeded the company’s expectations.

Flight Centre share price snapshot

The Flight Centre share price has surged 17% in the past year, while it has descended 4% in the year to date.

For perspective, the ASX 200 has lost nearly 8% in a year.

Flight Centre has a market capitalisation of about $3.3 billion based on the current share price.

The post Why is the Flight Centre share price tumbling 5% today? appeared first on The Motley Fool Australia.

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More reading

• Why Flight Centre, Iress, Nitro, and Perseus shares are dropping today
• ASX 200 midday update: Iress sinks on CEO exit, Flight Centre shares descend
• 5 things to watch on the ASX 200 on Tuesday
• Here are the top 10 ASX 200 shares today
• Why Damstra, Flight Centre, IAG, and Pantoro shares are pushing higher

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 recommended Flight Centre Travel 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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