When assessing ASX shares, investors often focus on a company’s net profits to get a good understanding of its ability to be self-sustaining. However, there’s another important metric that is essential to the survival of a company over the long term: free cash flow.

In a way, this is the ‘true’ cash that is generated by the company. This figure measures profitability excluding non-cash expenses and includes capital expenditure. In other words, this is the amount of money that is actually available to the company and its shareholders.

Today, we are covering three ASX shares inside the All Ords Index (ASX: XAO) that are providing the financial equivalent of a torrential downpour in free cash flows.

ASX shares with impeccable free cash flow

To set the scene, the importance of free cash flow is now dawning on newer investors. Many are experiencing their first cycle of investing throughout interest rate increases. As a result, the era of cheap access to capital is drying up. This means it is crunch time for business model fundamentals.

Illustrious entrepreneur Sir Richard Branson once said:

Never take your eyes off the cash flow, because it’s the lifeblood of business.

On that note, we better dig into a few ASX shares with ample lifeblood. Here are three ASX All Ords shares that have plenty of free cash flow:

Magellan Financial Group Ltd (ASX: MFG)

The Australian-based fund manager, Magellan, has been going through a stretch of turmoil since losing one of its key clients. In response, shareholders have doused the company in disappointment and offloaded shares swiftly. This had led to this ASX share losing a staggering 70% from its 2021 high.

Yet, profitability has remained intact in spite of the whirlwind. For the last 12 months, Magellan has recorded free cash flow of $402.6 million on revenue of $788.8 million. At a free cash flow margin of 51%, the company appears to be in fit condition to continue to rain down cash for shareholders.

National Storage REIT (ASX: NSR)

While the next substantial free cash flow producer isn’t technically an ASX ‘share’, this real estate investment trust (REIT) is certainly worth a mention.

National Storage is one of the largest storage providers across the Australiasia region with a total of 214 sites. Management has consistently sought out acquisitions and expansion over the last 12 months, adding 12 centres to its portfolio.

Based on the last 12 months, National Storage achieved a free cash flow margin of ~59% on $248.7 million of revenue.

Pro Medicus Limited (ASX: PME)

The last ASX All Ords share making an appearance in this list is medical imaging software provider Pro Medicus. Although this is the largest company by market capitalisation out of the three covered, it is, counterintuitive, the one with the smallest revenue.

However, Pro Medicus is often heralded by many shareholders as a high-growth company, warranting its 115 times [price to earnings] P/E ratio. That aside, there is no arguing the healthcare business is a healthy free cash flow producer.

With a 51% free cash flow margin, this ASX share is able to keep itself afloat for the time being.

The post Free cash flow: Here are 3 ASX All Ords shares that have it in spades appeared first on The Motley Fool Australia.

More reading

• The best 2 ASX shares money can buy right now: expert
• What’s going on with the Challenger share price today?
• 2 stellar ASX 200 growth shares analysts rate as buys
• What’s happening with ASX 200 tech shares today?
• Why is the Magellan share price marching higher today?

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

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Today, the S&P/ASX 200 Index (ASX: XJO) ducked and weaved through a patchy market to finish in the green. At the end of the session, the benchmark index climbed 0.37% higher to 7,155.2 points.

It was a hit-and-miss bout on the Aussie stock exchange today. A portion of companies performed solidly, including consumer staples and banks. While other parts of the index suffered at the hand of a concerning blow to digital advertising companies in the US overnight. The local tech sector ended up being on the nose today, falling 3%.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, GQG Partners Inc (ASX: GQG) was the biggest gainer today. Shares in the global boutique asset manager rallied 6.29% higher as investors anticipate the company’s inclusion in the FTSE All-World Cap Index. Find out more about GQG Partners here.

The next best performing ASX share across the market today was Nufarm Ltd (ASX: NUF). The agriculture chemical company traded 5.61% above its previous closing price despite a lack of any price-sensitive news. Uncover the latest Nufarm details here.

Today’s top 10 biggest gains were made in these ASX shares:

ASX-listed company	Share price	Price change
GQG Partners Inc (ASX: GQG)	$1.605	6.29%
Nufarm Ltd (ASX: NUF)	$5.27	5.61%
Perseus Mining Ltd (ASX: PRU)	$1.96	4.53%
Orica Ltd (ASX: ORI)	$16.14	3.53%
Evolution Mining Ltd (ASX: EVN)	$3.82	3.52%
Mercury NZ Ltd (ASX: MEZ)	$5.46	3.41%
Nib Holdings Ltd (ASX: NHF)	$7.42	3.06%
Northern Star Resources Ltd (ASX: NST)	$9.11	2.48%
Metcash Ltd (ASX: MTS)	$4.33	2.12%
Coles Group Ltd (ASX: COL)	$18.00	1.98%

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

More reading

• This is the top ASX 200 share I wish I’d bought when starting out
• 3 ASX All Ordinaries shares enjoying a Wednesday windfall
• ASX 200 midday update: BHP and Pilbara Minerals shares tumble
• Do South32 shares have exposure to ‘green metals’?
• 3 ‘disruptive’ ASX companies Aussies now can’t live without

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended COLESGROUP DEF SET. The Motley Fool Australia has recommended NIB Holdings 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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The Webjet Ltd (ASX: WEB) share price has been on a high in the last nine days on the market.

The travel company’s share price has surged nearly 10% since market close on 12 May. Qantas Airways Limited (ASX: QAN) shares have climbed 3% in the same frame, while Flight Centre Travel Group Ltd (ASX: FLT) shares have gained 2.8%.

So what’s been happening at Webjet?

Webjet share price takes off

Webjet shares could have risen in recent times thanks to renewed optimism for travel. In a conference call on Thursday discussing the company’s annual results, Webjet managing director John Guscic shared his outlook for the travel industry with this notable summation:

Guess who’s back? Travel’s back, baby.

On 17 May, Webjet reported a return to profit in the second half of FY22. The company said the business turned around in FY22. The profit in the second half of the year was underpinned by the WebBeds and Webjet OTA businesses.

On the company results, Webjet said:

FY22 was a year of recovery. We are now cash flow positive, our two largest businesses returned to profitability and we are seeing markets rebound strongly as travel restrictions continue to ease.

Overall, Webjet reported a 258% jump in revenue and a statutory net loss of $85.4 million.

Webjet did not declare a dividend for FY22 due to some uncertainty still remaining. The company also has not provided an earnings guidance for FY23.

As my Foolish colleague Tristan reported recently, broker opinion on the Webjet share price is mixed. Ord Minnett has placed a $7.48 price target on the company’s shares. This is a 28.52% upside on the current share price.

However, Macquarie has predicted the Webjet share price could fall slightly to $5.80. Morgans has also maintained an add rating on the company with a $6.55 price target. This is a nearly 13% increase on the current share price.

In the bigger picture, Australia’s international borders opened on 21 February. On 18 April, cruise ships were allowed to reenter Australia as the country’s biosecurity emergency ended. The COVID testing requirement for travel was also dropped. Meanwhile, on 11 May, New Zealand announced it would reopen its borders to tourists from the end of July.

Share price snapshot

Webjet shares have ascended nearly 19% in the past 12 months, while they are up nearly 13% year to date.

However, in today’s trade, the Webjet share price fell 1.52% to $5.82. Flight Centre shares also dropped 1.84%, while Qantas shares finished 0.56% in the red.

For perspective, the S&P/ASX 200 Index (ASX: XJO) finished 0.37% higher today and climbed 1.55% during the past year.

Webjet has a market capitalisation of about $2.2 billion based on its current share price.

The post Up 10% in 9 trading days, what’s going on with the Webjet share price? appeared first on The Motley Fool Australia.

More reading

• Is the Webjet share price an opportunity that can soar?
• The Flight Centre share price has taken off 5% in a week. Is travel really ‘back, baby’?
• These are the 10 most shorted ASX shares
• Top brokers name 3 ASX shares to buy next week
• Brokers name 3 ASX shares to buy today

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 and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Owners of Australia and New Zealand Banking Group Ltd (ASX: ANZ) shares have found their investment at the forefront of an interest rate battle this month.

The smallest of the ‘big four’ banks has dropped its variable interest rate to 2.29% for new customers.

The move has led experts to believe competition between lenders is heating up despite the current interest rate environment.

As of Wednesday’s close, the ANZ share price is $25.63, 1.02% higher than it finished Tuesday’s session.

For context, the S&P/ASX 200 Index (ASX: XJO) also gained 0.37% on Wednesday.

Let’s take a closer look at the battle apparently breaking out between Australia’s major lenders.

ANZ fans the flames of competition among lenders

ANZ has dropped its lowest variable rate by 0.15% just weeks after it bumped it higher amid heightening competition between the big banks.

The move is likely an attempt to secure its position in an increasingly competitive lending market.

Right now, some new customers can enjoy a variable rate of 2.29% when they sign onto an ANZ Simplicity PLUS home loan.

Meanwhile, Commonwealth Bank of Australia (ASX: CBA) launched Unloan last week. The digital mortgage platform offers variable rates starting at 2.14%.

Westpac Banking Corp (ASX: WBC) is also bowing to competition. It’s offering some new customers a two-year introductory rate of 2.19% on variable home loans.

Experts have noted these offerings are fanning competition between banks battling for home loan customers.

“What these big bank cuts show is that competition in the mortgage market is still alive and kicking, despite the RBA hikes,” RateCity.com.au research director Sally Tindall said.

“While most variable customers will now be dealing with higher repayments, some banks eager for new business are handing out exemptions,” she said.

ANZ share price snapshot

However, while ANZ is joining in on the interest rate battle, its share price is offering little competition to its big four peers.

The bank’s stock has tumbled 7% since the start of this year. That makes it the worst-performing big bank of 2022 so far.

The ANZ share price has also slipped almost 9% over the last 12 months.

The post Own ANZ shares? The bank is amping up competition between its big four peers appeared first on The Motley Fool Australia.

More reading

• ASX shares paid out a record $98b in dividends in the 12 months to March. Which are the star performers?
• ANZ shares backtrack despite the bank bolstering its board
• Has the ANZ dividend been growing?
• 3 cheap ASX shares set to boom with higher interest rates: Wilsons
• Can ASX 200 banks really see a 15% profit jump if the cash rate hits 1%?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Westpac Banking Corporation. 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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It’s starting to feel like a long time ago that this writer started on the investing journey.

Investing is a discipline where you can always do better, and one that no one can ever truly master to perfection. Even legendary investors like Warren Buffett make plenty of mistakes.

But it is also a discipline where one mustn’t make ‘perfect’ the enemy of ‘good’. My first investment into an ASX 200 share was not a perfect one. In fact, it remains the worst investment I’ve ever made. It was Slater & Gordon Limited (ASX: SGH) if you must know, and it cost me dearly. But making such a fatal error so early on proved fortuitous. It prompted me to learn fast.

So what ASX 200 share would I buy if I could go back and do it all again? Well, I won’t take the easy way out and find the share that has been appreciated by the most over the past seven years.

Instead, let’s go with Washington H Soul Pattinson and Co Ltd (ASX: SOL). I own Soul Patts shares today. But I wish I had bought them sooner than I did.

What makes Soul Patts an ideal ASX 200 share to start out with?

Soul Patts is one of the most diversified ASX 200 shares on the market. It doesn’t really function as your traditional company. Rather, Soul Patts’ primary business is owning large chunks of other ASX shares, investing in them on behalf of its shareholders.

Today, it owns stakes in businesses ranging from Brickworks Ltd (ASX: BKW) and BKI Investment Co Ltd (ASX: BKI) to TPG Telecom Ltd (ASX: TPG) and New Hope Corporation Limited (ASX: NHC). This is one reason I’m attracted to the company – it really functions as several investments in one.

But this also means that someone else (in this case, Soul Patts’ management) is investing on my behalf. So what gives me the confidence to trust someone else in this matter?

A rock-solid track record.

For one, Soul Patts is the only ASX 200 share that can boast of a track record of increasing its annual dividend every year for more than two decades.

But the company also has the capital gains to back that already-impressive statistic up. Back in March, Soul Patts told investors that its shares had averaged a compounded annual return of 14.5% since 1981.

These factors combine to make Soul Patts the perfect bottom drawer investment in my opinion. And that makes it the ASX 200 share I wish I had bought when starting out on my investing journey.

The post This is the top ASX 200 share I wish I’d bought when starting out appeared first on The Motley Fool Australia.

More reading

• 2 ASX dividend shares I’d buy for passive income
• ASX 200 midday update: BHP and Pilbara Minerals shares tumble
• Do South32 shares have exposure to ‘green metals’?
• 3 ‘disruptive’ ASX companies Aussies now can’t live without
• 5 things to watch on the ASX 200 on Wednesday

Motley Fool contributor Sebastian Bowen has positions in Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended TPG Telecom 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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The Chalice Mining Ltd (ASX: CHN) share price returned from its trading halt on Wednesday and tumbled notably lower.

The mineral exploration company’s shares ended the day 6.5% lower at $6.23.

Why did the Chalice Mining share price tumble?

The catalyst for the weakness in the Chalice Mining share price was the completion of the company’s institutional placement this afternoon.

According to the release, Chalice has successfully raised approximately $100 million from institutional investors after receiving very strong support from leading domestic and international institutions.

These funds were raised at $6.00 per new share, which was a 10% discount to the Chalice Mining share price prior to its halt.

Upon completion of the placement, Chalice expects to have cash on hand of ~$141 million.

Why is Chalice raising funds?

The release explains that this capital raising means Chalice is now fully funded for the next 18 months of exploration and pre-development activities at its 100%-owned Julimar Nickel-Copper-PGE Project and the highly prospective West Yilgarn licence holding.

The Julimar Project is located ~70km north-east of Perth in Western Australia and is surrounded by world-class infrastructure. The company has been busy drilling the Gonneville deposit, which intersected shallow high-grade PGE-nickel-copper-cobalt-gold sulphide mineralisation.

This led to the release of its maiden resource last year for Gonneville, which confirmed that it is one of the largest nickel-copper-PGE sulphide discoveries worldwide. It is also the largest PGE discovery in Australian history, which management believes demonstrates the potential for Julimar to become a strategic, long-life green metals asset.

In addition, the company holds an enormous land position in the new West Yilgarn Ni-Cu-PGE Province. Management believes this gives it a first mover advantage in an almost entirely unexplored mineral province.

These certainly are exciting times for Chalice, which goes some way to explaining why the Chalice Mining share price is up over 500% since this time in 2020.

The post Here’s why the Chalice Mining share price sank almost 7% today appeared first on The Motley Fool Australia.

More reading

• Why BHP, BrainChip, Chalice Mining, and Fisher & Paykel shares are dropping
• Chalice share price remains frozen despite capital raise update
• Why is the Chalice Mining share price on ice today?
• These were the best performing ASX 200 shares last week
• 3 ASX mining shares that went gangbusters on Friday

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

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2022 has been a tough year for most crypto investors so far.

Cryptos have broadly proven susceptible to the same market forces that have seen risk assets take a bath this calendar year.

With fast-rising inflation seeing central banks in developed nations hike interest rates, the tech-heavy Nasdaq is down 28.9% year-to-date. ASX tech shares have gone the same direction, as witnessed by the 33.1% fall in the S&P/ASX All Technology Index (ASX: XTX) over that same period.

With risk assets under pressure, Bitcoin (CRYPTO: BTC) is down 36.9% this year, while the world’s number two crypto by market cap, Ethereum (CRYPTO: ETH) has tumbled 46.9% since 1 January.

In fact, only three of the top 100 cryptos have returned a gain of more than 6% in 2022.

We’ll leave off the second and third spots and shine the spotlight directly onto the top-performing crypto in 2022, Kyber Network Crystal v2 (CRYPTO: KNC).

The digital token is up 3.6% over the past 24 hours, bringing its gains in 2022 to an impressive 62.9%.

At the current price of US$2.24, it has a total market valuation just shy of US$400 million.

What is Kyber Network?

If you haven’t heard of Kyber Network Crystal v2, rest assured you’re not alone.

Here’s what CoinMarketCap says makes the crypto unique:

Kyber Network is the first tool that allows anyone to instantly swap tokens without the need of a third-party, like a centralised exchange. The unique architecture of Kyber is designed to be developer-friendly, which enables the protocol to be easily integrated with apps and other blockchain-based protocols.

For investors who may be considering KNC, do take note of the serious volatility it’s undergone just in the past month alone.

Here’s what we mean.

The token hit all-time highs of US$5.72 on 28 April. Then, only two weeks later, it sank to record lows of US$1.13 on 12 May.

Since the 12 May low, KNC has leapt 98% higher.

What’s intriguing crypto investors?

In the lead up to hitting its all-time highs last month, Kyber Network Crystal v2 said it was integrating with numerous leading blockchains.

As Cointelegraph reported:

KyberSwap, the main decentralised exchange interface on the network, now offers trading across ten separate networks including Ethereum, Avalanche, Polygon, BNB Smart Chain, Aurora, Arbitrum, Fantom, Oasis, Velas and Cronos.

Interoperability has become one of the main themes driving growth not just in DeFi, but in all sectors of the crypto economy because the ability to send assets and data across multiple chains is a necessary feature in the future of DeFi, the nonfungible token (NFT) sector and the Metaverse.

Things move quickly in the crypto space.

But, as of today, Kyber Network Crystal v2 is hands down the biggest gainer of 2022 so far.

The post This is the top performing crypto in 2022 so far, and it sure isn’t Bitcoin appeared first on The Motley Fool Australia.

More reading

• What do NFTs mean for the gaming industry?
• Looking to spend your crypto? Here are 5 things you can buy in 2022
• What to expect for the Bitcoin price heading into June
• Can Bitcoin play a role in a diversified ASX share portfolio?
• Ethereum price rout knocks founder from billionaire’s list. Does he still ‘welcome a bear market’?

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.

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The Woodside Energy (ASX: WDS) share price has remained steady on Wednesday.

The company’s share price is currently trading at $29.13, the same as yesterday’s closing price. For perspective, the S&P/ASX 200 Energy Index (ASX: XEJ) is 0.57% higher at the time of writing.

So let’s check what’s happened with Woodside today?

First day under a new name

Today is the first day Woodside is trading under its new name and ASX ticker. Previously, the company was trading as Woodside Petroleum Ltd (ASX: WPL).

The new name was approved by shareholders at the company’s AGM on Thursday.

Woodside shareholders also overwhelming approved the planned merger with BHP Group Ltd (ASX: BHP)’s petroleum business on 19 May. The merger is scheduled for completion on 1 June.

In other news today, Woodside CEO Meg O’Neill today said demand for LNG is on the rise amid the Russian invasion of Ukraine, Channel News Asia reported. Speaking at the World Gas Conference in Daegu, South Korea, O’Neill said:

With the invasion, we are seeing the world try to move away from Russian hydrocarbons and that means that demand for LNG from places like Australia is up.

We do expect prices to remain elevated for the next year, perhaps next few years as the world tries to rebalance gas in supply and demand.

In the first quarter of 2022, Woodside reported an increase in LNG sales volumes and revenue.

Natural gas prices are up 0.28% to US$8.8210 MMBtu, Trading Economics data shows. Crude oil WTI prices have also jumped 1.21% to US$111.12 per barrel.

Woodside share price snapshot

The Woodside share price has soared 32% in the past year, while it is up 28% in the year to date.

For perspective, the S&P/ASX 200 Energy Index has returned about 26% in the past year.

Woodside has a market capitalisation of about $4.2 billion based on the current share price.

The post Woodside share price steady on first day trading under new name appeared first on The Motley Fool Australia.

More reading

• What exactly is the difference between Woodside Energy (WDS) and Woodside Petroleum (WPL)?
• 5 things to watch on the ASX 200 on Wednesday
• Own ASX 200 energy shares? Here’s the ‘key risk to watch’ post election
• ASX shares paid out a record $98b in dividends in the 12 months to March. Which are the star performers?
• What’s boosting the Woodside share price on Tuesday?

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 tech sector has been a very difficult place to invest this year due to concerns over a potential global recession and rising rates.

For example, the S&P ASX All Technology index is down by approximately one-third in 2022.

While this is disappointing, the team at Goldman Sachs believe there are still some quality tech shares trading at very attractive prices.

Its analysts have been screening for tech shares that they believe will continue to prosper in the current environment and have picked out their favourite.

Goldman explained:

Given concerns around a global recession and the continued de-rating of the ANZ tech sector, we screen for Australia Technology names (ANZ software companies >$250mn market cap) that look well-placed to navigate a more challenging macro environment based on FCF margins, b/s strength and recurring revenue.

The tech share that came out on top was enterprise software provider TechnologyOne Ltd (ASX: TNE).

What did the broker say?

Goldman likes TechnologyOne due to its defensive qualities, high recurring revenue, and strong long term growth potential.

Defensive end markets (public sector and education) with IT spending that are relatively resilient to recessions (see our initiation here). Contractual CPI pricing pass-through, high recurring revenue, minimal churn (<1%), high margins and net cash are attractive attributes in a slowing economy. In addition, TNE’s recent result highlight continued momentum towards the +A$500mn FY26 ARR target, providing valuable earnings growth visibility over coming years, in our view.

According to the note, the broker has a buy rating and $13.30 price target on the tech company’s shares

Based on the current TechnologyOne share price of $10.20, this implies potential upside of 30% for investors over the next 12 months.

The post Leading broker names the best ASX tech share to buy following 2022’s tech meltdown appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to buy today
• Why Nufarm, Sayona Mining, Tabcorp, and TechnologyOne shares are falling
• Here’s why ASX 200 tech shares are under pressure on Tuesday
• ASX 200 midday update: Nufarm, Tabcorp and TechnologyOne tumble
• TechnologyOne share price slides despite strong first-half SaaS growth

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

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The BrainChip Holdings Ltd (ASX: BRN) share price is tumbling today despite no news having been released by the company.

At the time of writing, the BrainChip share price is $1.09, 5.65% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently 0.69% higher.

Let’s take a closer look at what might be weighing on the neuromorphic computing company’s stock today.

What’s going wrong for the BrainChip share price today?

BrainChip shares are having a rough day on Wednesday, slumping more than 5% as the tech sector struggles.

Right now, the S&P/ASX 200 Information Technology Index (ASX: XIJ) is down 2.6% while the S&P/ASX All Technology Index (ASX: XTX) is recording a 2.05% drop.

The sector is struggling following the tech-heavy Nasdaq Composite‘s 2.35% tumble overnight.

The dip was led by social media stock Snap Inc (NASDAQ: SNAP). It plummeted 43% on the back of a negative trading update.

It was also likely driven by fears of a recession in the United States, The Motley Fool’s Bernd Struben reported this morning.

Suffering alongside the BrainChip share price is stock in tech giants Block Inc (ASX: SQ2) and Megaport Ltd (ASX: MP1). They’ve both tumbled more than 5%.

However, the dip hasn’t been enough to send BrainChip’s stock into the long-term red.

Right now, it’s trading for 38% more than it was at the start of 2022. It’s also 91% higher than it was this time last year.

At the current share price, BrainChip presides a market capitalisation of $1.97 billion.

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

More reading

• Why BHP, BrainChip, Chalice Mining, and Fisher & Paykel shares are dropping
• Why BrainChip, Codan, Elders, and Karoon Energy are storming higher
• Why is the BrainChip share price rocketing 15% higher today?
• The BrainChip share price just plunged 8%, what happened?
• Nearmap share price jumps 9% on Friday

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 Block, Inc. and MEGAPORT FPO. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool Australia has recommended MEGAPORT FPO. 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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