The All Ordinaries Index (ASX: XAO) is in the green today, gaining 0.5%. It’s being bolstered by these All Ords shares, each boasting gains of more than 20%.

3 All Ords shares gaining more than 20% today

MoneyMe Ltd (ASX: MME)

The MoneyMe share price is launching higher on Friday, gaining nearly 25% to trade at 71 cents.

The consumer credit business announced it has completed its inaugural term securitisation of personal loan customer receivables this morning.

On top of that, the company increased the capacity of its Autopay warehouse from $300 million to $450 million last month.  

The two events, along with existing arrangements, have increased its external securitisation funding facilities to $1.65 billion, with $388 million of undrawn capacity.

Praemium Ltd (ASX: PPS)

Fellow All Ords constituent Preamium is also seeing its share price rocket higher on Friday. The wealth management-focused tech company’s stock is lifting 20.43% right now to trade at 56 cents.

Its gain follows news the company has successfully divested its international businesses and will now focus on its domestic leg.

The company sold its operations in the United Kingdom, Dubai, Hong Kong, and Jersey for 35 million British pounds sterling.

“This successful divestment will allow Praemium to focus on the enormous opportunity that the Australian wealth market offers,” Praemium CEO Anthony Wamsteker said.

The company plans to return approximately $50 million to shareholders through a special dividend and on-market buy-back following the sale.

Atomos Ltd (ASX: AMS)

Finally, ASX All Ords tech share Atomos is taking off on Friday. Right now, its stock is swapping hands for 24 cents apiece, a 26.32% improvement on its previous close.

Interestingly, no news has been released by the company since the end of May.

However, it did finish yesterday’s session at an all-time low of 19 cents.

The post These 3 ASX All Ords shares are delivering double-digit gains on Friday appeared first on The Motley Fool Australia.

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More reading

• What’s propelling the MoneyMe share price 28% higher today?
• Domestic bliss: Praemium share price surges 18% after international business split
• 3 ASX All Ords shares dodging selling pressure on Wednesday
• These 3 ASX All Ordinaries shares are hitting new 52-week lows today
• These 2 ASX tech All Ords shares are hitting new 52-week lows today

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 Atomos Ltd and Praemium Limited. The Motley Fool Australia has recommended Praemium 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 S&P/ASX 200 Index (ASX: XJO) is enjoying a moderately positive end to the trading week so far this Friday. At the time of writing, the ASX 200 is up by 0.15%, close to 6,580 points. But the Zip Co Ltd (ASX: ZIP) share price is doing far better.

Zip shares are on fire today. The buy now, pay later (BNPL) company is now up by a pleasing 11.36% at 49 cents per share after it closed at 44 cents yesterday (a new 52-week low).

So what’s behind this impressive performance this Friday?

Well, the first thing to note is that, although Zip is having a spectacular day today, it hasn’t exactly made up for its recent bout of underperformance just yet. Even after this move, the zip share price remains down by almost 12% over the past five trading days alone. It’s also lost more than 40% over just the past month, and more than 88% in 2022 thus far.

Why are Zip shares rocketing 11% today?

So there’s always the possibility that investors have simply decided Zip has gone low enough, and are bidding the shares back up today.

But we also have some news to discuss which could be playing a role here.

Zip’s fellow BNPL share Openpay Ltd (ASX: OPY) has put out an “operational update” today. This confirmed to investors that the company was pulling out of the United Kingdom market, as well as implementing an indefinite “pause” for its existing US operations.

On this news the Openpay share price has risen a whopping 25% so far today, rising from 12 cents to 15 cents. This could be flowing through to the Zip share price today as well.

Whatever the true reason for Zip’s rocket-like gains today, it will no doubt be a welcome development for shareholders.

At the current Zip share price, this ASX 200 BNPL company has a market capitalisation of $333.6 million.

The post Why is the Zip share price jumping 11% today? appeared first on The Motley Fool Australia.

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• Why did the Zip share price crash more than 50% in June?
• June was a terrible month for ASX BNPL shares. Here’s why
• These were the worst performing ASX 200 shares in June
• Could ASX BNPL shares be set for imminent regulation as spending swells to $12 billion?
• Zip shares sink 6% despite BNPL spend doubling this financial year

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 brutal second half of FY22 has battered ASX 200 retail share prices, but experts believe some are poised to make a comeback in this new financial year.

The surge in the cost of living, slowing economic growth and the threat of falling home values is sapping consumer confidence.

This has prompted brokers to cut their earnings forecasts for S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) shares.

ASX 200 retail shares in the reject bin

Little wonder that around 85% of shares in the sector have underperformed the 13% drop in the S&P/ASX 200 Index (ASX: XJO) in the last six months.

Some of the worst performers include the Domino’s Pizza Enterprises Ltd (ASX: DMP) share price and Breville Group Ltd (ASX: BRG) share price. The fast-food chain and the home appliance group shed more than 40% of their value in 2H FY22.

Meanwhile, the Wesfarmers Ltd (ASX: WES) share price and Lovisa Holdings Ltd (ASX: LOV) share price have shed around 30% each.

A few tailwinds

However, it isn’t all bad news. Analysts believe some ASX 200 retail shares are now well-priced following the sell-off.

JP Morgan also noted that consumers have a $250 billion savings buffer to draw on, reported the Australian Financial Review. Its analysts Bryan Raymond and Chris McKegg said:

The optics around year-on-year declines will clearly be large given the very high base, but we expect the trough sales and margin levels in the financial year 2024 to be better than share prices are factoring in.

Another broker that’s cautiously optimistic is Wilsons. Its analyst John Hynd thinks the market reaction over the last four to six months looks “pretty extreme”, according to the AFR.

Hynd explained:

The [retail spending] data continues to surprise on the upside, given we saw variable interest rates increase in May and the consumer has that expectation that rates are going to continue to increase – yet they’re still willing to spend.

However, I think it’s too early to call whether consumers will be resilient through the rate cycle.

ASX 200 retail shares to watch in FY23

Nonetheless, both brokers see value in the sector. JP Morgan likes the Super Retail Group Ltd (ASX: SUL) share price and Harvey Norman Holdings Limited (ASX: HVN) share price.

Meanwhile, Wilsons’ top pick is the City Chic Collective Ltd (ASX: CCX) share price. It reckons the plus-size clothing retailer can weather the economic turmoil due to its niche offering, sticking customers and high-quality offering.

The post Embattled ASX 200 retail shares primed for a comeback: experts appeared first on The Motley Fool Australia.

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• Why is the Northern Star share price more green than gold on Friday?
• ASX 200 midday update: Regis Resources jumps, BHP and Rio Tinto drop
• These ASX 200 mining shares are digging a deeper hole on Friday
• Why did the Soul Pattinson share price go backwards in June?
• 5 things to watch on the ASX 200 on Friday

Motley Fool contributor Brendon Lau 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 Harvey Norman Holdings Ltd. and Super Retail Group Limited. The Motley Fool Australia has positions in and has recommended Harvey Norman Holdings Ltd., Super Retail Group Limited, and Wesfarmers Limited. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited and Lovisa Holdings 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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The Xero Limited (ASX: XRO) share price has started the month in a positive fashion.

In early afternoon trade, the cloud accounting company’s shares are up 2% to $78.71.

Why is the Xero share price pushing higher?

As well as getting a boost from a rebound in the tech sector, the Xero share price has been given a lift from a bullish broker note.

According to a note out of Morgans, its analysts have initiated coverage on the company with an add rating and $90.25 price target.

Based on the current Xero share price, this implies potential upside of almost 15% for investors over the next 12 months.

What did the broker say?

Morgans notes that Xero has a huge market to grow into and opportunities to boost its earnings from value added services via its app store.

XRO has a significant runway for customer growth with <10% penetration of a 45m+ SMB Total Addressable Market (TAM). We see additional earnings upside from platform / ancillary value-added services and margin expansion.

The broker has, however, warned that it could be a bumpy road ahead for the Xero share price. This is due to the market having difficulty deciding on which valuation method to use for its shares given its propensity to reinvest in its growth.

Execution risk and time value of money are the key operational considerations. What valuation framework investors are prepared to use is the greatest unknown. The subjectivity of this will create share price volatility along the way.

‘A top tech exposure’

Nevertheless, the broker believes Xero is a high quality company, with strong growth potential in an industry with high barriers to entry.

It summarises:

XRO boasts strong customer advocacy, significant barriers to entry, scalability and LTV at ~7x CAC. It should continue to grow earnings/FCF above economic trend and is profitable and liquid. We rate it highly and it appears others do as well. A key risk is XRO trades on large short-term multiples. If we remove FY22F “investing for growth” CAC, XRO trades on a ~2.2% FCF yield. Rising interest rates are a net negative for XRO’s share price and growth companies. However, XRO should be a top tech exposure due its high quality.

The post Why this top broker just slapped a buy rating on Xero shares appeared first on The Motley Fool Australia.

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• Analysts tip big returns from these ASX growth shares
• What was the highest ever Xero share price?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended 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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After its merger with Saracen Mineral Holdings last year, Northern Star Resources Ltd (ASX: NST) is now one of the largest listed ASX gold miners on the share market. But that hasn’t saved Nothern Star shares from a rough ride this week. Since last Friday’s close, the Northern Star share price has fallen by around 11%.

Despite this, today has seen the gold miner rebound slightly. The Northern Star share price is currently up 3.8% at $7.10.

That comes after Northern Star hit another new 52-week low this morning soon after market open. The company dropped as low as $6.79 today before shooting back up. A rough ride indeed.

But with the Northern Star share price rebounding today, and by far more than the broader S&P/ASX 200 Index (ASX: XJO) too, you might expect the gold price to be rising.

But you’d be wrong. The price of gold has actually fallen over the past 24 hours or so. The yellow metal was asking US$1,825 an ounce yesterday. But today, it has dropped to US$1,806 a the time of writing.

What’s going on with the Northern Star share price today?

The rising Northern Star share price could be a byproduct of the news we heard this morning about a fellow ASX gold miner.

As my Fool colleague James covered earlier today, there are reports that mining billionaire and CEO of Fortescue Metals Group Limited (ASX: FMG), Andrew Forrest, was seeking to acquire a 15% stake in gold miner Regis Resources Limited (ASX: RRL). Twiggy was apparently happy to buy this stake at $1.48 per share.

The Regis share price closed at $1.30 on Thursday but has rocketed almost 11% so far today to $1.44, presumably on this news. However, The Australian has since reported Forrest has abandoned the plan after failing to aquire the stake for $168 million.

We also see other ASX gold miners such as Evolution Mining Ltd (ASX: EVN) rising today as well, up 2.5%.

So, this vote of confidence for a fellow ASX gold miner from one of Australia’s richest people could be flowing through to the Northern Star share price.

Northern Star has a market capitalisation of $8.04 billion, with a dividend yield of 2.77%.

The post Why is the Northern Star share price more green than gold on Friday? appeared first on The Motley Fool Australia.

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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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The S&P/ASX 200 Index (ASX: XJO) is in the green despite a notably poor performance from energy shares on Friday.

Right now, the S&P/ASX 200 Energy Index (ASX: XEJ) is down a whopping 1.38%.

For context, the ASX 200 is recording a gain of 0.35% at the time of writing.

Interestingly, the energy sector’s downfall is being led by some of its most renowned names.

Perhaps unsurprisingly, much of the turnaround is seemingly being driven by falling oil prices. Let’s take a look.

Energy shares dragging on ASX 200

The ASX 200 energy sector is in the red on Friday after oil prices tumbled despite continuous supply concerns overnight.

The price of Brent crude oil fell 1.2% to reach US$114.81 a barrel in Thursday’s session overseas while the West Texas Intermediate oil price tumbled 3.7% to US$105.76 a barrel.

It marks the first time in 2022 that oil prices recorded a month-on-month fall. WTI oil futures slumped 7.8% in June, according to Trading Economics.

The fall came after OPEC+ nations announced they would only increase August output by as much as was previously flagged, reports Reuters. That will see an additional 648,000 barrels per day hit the market.

That’s despite expectations that supply of the black liquid could tighten in the face of export halts, political disruptions, and strikes in Libya, Ecuador, and Norway.  

The commodity’s fall is likely weighing on the share prices of Santos Ltd (ASX: STO), Woodside Energy Group Ltd (ASX: WDS), and Worley Ltd (ASX: WOR). They’re currently down 1.4%, 2.2%, and 2.4% respectively. That of Beach Energy Ltd (ASX: BPT) is also down 0.6%.

Coal producing shares of New Hope Corporation Limited (ASX: NHC) and Whitehaven Coal Ltd (ASX: WHC) are also falling 3.1% and 1.6% respectively right now.

The post Why are ASX 200 energy shares dragging on the market today? appeared first on The Motley Fool Australia.

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• I loved this ASX share a year ago, and it’s still my long-term pick: expert
• 5 things to watch on the ASX 200 on Friday
• Santos shares go cold despite energy regulator outlining ‘crucial’ role gas will play for decades
• Own Soul Patts shares? Here’s how much of its portfolio is exposed to coal
• Why BWX, Sayona Mining, Tyro, and Woodside shares are sinking

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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This February saw the first-ever “Crypto Big Game” in football as crypto exchanges like Coinbase Global, Inc. (NASDAQ: COIN) made a huge splash with their attention-getting ads. Even people who knew little to nothing about crypto were talking about their favorite crypto ads featuring the likes of Matt Damon, LeBron James or Larry David. Fast forward to the end of this year, and we could see much the same media buzz at this year’s Big Soccer Tournament, scheduled to start on November 21 in Qatar. 

With less than six months to go, the crypto-related advertising and sponsorship deals are starting to roll in, potentially giving under-the-radar cryptos access to a huge, worldwide audience. In 2018, more than 3.57 billion people watched the Big Soccer Tournament. Simply getting in front of a fraction of these viewers could provide a huge, year-end boost headed into 2023. So which cryptos are best positioned to benefit?

Cryptocurrency trading platforms

The obvious place to start is with the cryptocurrency trading platforms that dominated advertising for the Big Game in February, and the most likely winner here will be Crypto.com. In March, Crypto.com became the exclusive cryptocurrency trading platform of this year’s World Cup. The decision to sponsor the biggest event in the soccer world makes sense, given the huge amount of money Crypto.com has already spent on sponsorship opportunities in sports ranging from basketball to Formula 1. 

While you can’t buy shares in Crypto.com, you can buy the cryptocurrency token associated with Crypto.com, Cronos (CRYPTO: CRO). Cronos is the native token of the exchange, meaning that its primary utility is for users of Crypto.com.

Investors can think of CRO as a proxy for the crypto exchange: If Crypto.com is doing well and adding new users, then CRO (now the #22 crypto in the world) is going to do well also.

Blockchain partners

The next place to look for hidden gems in the crypto space is with official blockchain sponsors of Qatar 2022. The obvious pick here is Algorand (CRYPTO: ALGO), which became the first U.S. blockchain sponsor of the Qatar event back in March. While it is the #26 crypto in the world, ALGO has largely flown under the radar of mainstream crypto investors. Yet, ALGO is the world’s first carbon-negative blockchain and the world’s first pure proof-of-stake blockchain. It’s green, it’s fast, and it’s backed by award-winning MIT professor Silvio Micali. 

At the announcement of the Algorand partnership, Electronic Arts‘ FIFA was quick to praise the values of ALGO, especially democratization, openness and transparency. For soccer fans in the developing world, blockchain technology is all about improving access and equity. For climate-minded U.S. fans, the winning argument for ALGO could be Algorand’s dedication to being the world’s greenest blockchain.

NFT marketplaces

Finally, it’s worth looking at the world of sports NFTs. Most sports fans have probably heard of NBA Top Shot (an NFT marketplace for NBA highlight videos), given that an NBA Top Shot of LeBron James has sold for upwards of $200,000. Granted, that was during the peak of the speculative froth around NFTs, but it’s safe to say that a truly legendary and rare moment — such as a game-winning shot that brings a championship to your favorite team — will likely retain its value over time. It’s the reason a bubble gum trading card for an iconic sports star can still sell for millions of dollars in the secondary market. 

Now apply this same idea to the world of soccer, and you can see why NFT marketplaces for soccer content could become so big. Currently, there’s no one-stop destination for soccer NFTs as there is for basketball, but one good starting point in the future could be Binance (CRYPTO: BNB) and its new NFT Marketplace. In mid-June, Binance announced a deal with arguably the most popular soccer player in the world, Cristiano Ronaldo, for the launch of future soccer NFT collections. If these NFTs become must-haves for collectors, then it is easy to see how BNB, the native token of Binance, could garner a lot of attention.

Concerns

Of course, there are a number of watch-outs here. First and most importantly, the recent downturn in the crypto markets has soured many investors on buying off-the-radar cryptos. Fair enough. If you’ve lost a lot in recent months, it might be tough to stomach any crypto ads running during Qatar 2022. The other big watch-out is all the potential geopolitical drama that might result from hosting the event in Qatar. The Middle East is always full of tension, and add in the fact that the U.S. and Iran are set to play each other this year, and, well, things could get very interesting very fast.

But the big picture is that the Big Soccer Tournament is one of the most prestigious sporting events in the world. Quite frankly, there is no other event of this type that draws the attention of the entire globe. With so many people watching and paying attention on a daily basis during the holiday season, the Big Soccer Tournament in Qatar is a prime opportunity for crypto to get back off the mat and head into 2023 with some fresh mojo. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Which under-the-radar cryptos could pop after this year’s big soccer tournament in Qatar? appeared first on The Motley Fool Australia.

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• Why is the Northern Star share price more green than gold on Friday?
• Why are ASX 200 energy shares dragging on the market today?
• Why is the Mesoblast share price leaping 19% today?
• ASX 200 midday update: Regis Resources jumps, BHP and Rio Tinto drop
• What’s propelling the MoneyMe share price 28% higher today?

Fool contributor Dominic Basulto 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 Coinbase Global, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Electronic Arts. 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.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Mesoblast Limited (ASX: MSB) share price is surging into the green today on no news.

At the time of writing, Mesoblast shares are trading 19% higher at 72.5 cents apiece, bouncing from 52-week lows of 61 cents in yesterday’s session.

In broad market moves, the S&P/ASX 200 Health Care Index (ASX: XHJ) has also gained 45 basis points from the open on Friday.

What’s up with the Mesoblast share price?

There’s nothing out of the company’s camp today. Nevertheless, investors have pushed the share higher on a volume of 1.2 million shares. That’s not far off its 4-week average volume of 1.7 million shares.

After gliding to 52-week lows at yesterday’s close, the share has caught bids today. Zooming out, however, it’s been a different story.

The Mesoblast share price has been gliding lower for over 12 months. It has plunged from its previous high of $4.60, all the way back in December 2020.

On 14 June, the company then advised it had been served a class action proceeding in the Federal Court of Australia by law firm Phi Finney McDonald.

The class action is the second against Mesoblast, with similar proceedings filed by firm William Roberts Lawyers back in May.

“[I]n the U.S. [Mesoblast] recently resolved a similar suit for $2 million, with no admission of liability, which was paid by the company’s insurer other than the minimum excess as per the company’s insurance policy,” it said.

The company said it will vigorously defend both proceedings.

Despite the legal overhang, the market has bought in at the yearly lows and is pushing the Mesoblast share price higher on Friday.

In the last 12 months, Mesoblast shareholders have watched the share price dwindle more than 63% into the red.

The post Why is the Mesoblast share price leaping 19% today? appeared first on The Motley Fool Australia.

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• Why has the Mesoblast share price crashed 40% since April?

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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At lunch on Friday, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. The benchmark index is currently up 0.6% to 6,606.8 points.

Here’s what is happening on the ASX 200 today:

Regis Resources shares jump on failed Twiggy raid

The Regis Resources Limited (ASX: RRL) share price is jumping today following reports that Andrew ‘Twiggy’ Forrest tried but ultimately failed to acquire a 15% stake in the gold miner. The iron ore billionaire was hoping to snap up the stake for $1.48 per share, which represents a 13.8% premium to its last close price. However, his kill or fill order fell short at 12% filled and thus was cancelled.

ASX 200 miners drop

The rest of the resources sector hasn’t fared as well as Regis Resources. The likes of BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) are in the red today and dragging on the ASX 200 index. This has been driven by further weakness in commodity prices overnight. One of those was copper, which lost 1.7% to record its biggest quarterly slump since 2011.

AVZ Minerals shares fail to return

This morning the embattled Avz Minerals Ltd (ASX: AVZ) extended the suspension of its shares for another two weeks. The lithium developer continues to battle legal action from a Chinese company that claims it owns a stake in the Manono Lithium project. There are fears that AVZ could end up owning as little as 36% of the project. Management appears optimistic the matter could be resolved by 15 July.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Friday has been the Regis Resources share price with an 11% gain. This follows news that Twiggy Forrest was aiming to acquire a large stake at a premium. Going the other way, the worst performer has been the Mineral Resources Limited (ASX: MIN) share price with a 3% decline on commodity price weakness.

The post ASX 200 midday update: Regis Resources jumps, BHP and Rio Tinto drop appeared first on The Motley Fool Australia.

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More reading

• These ASX 200 mining shares are digging a deeper hole on Friday
• Why did the BHP share price take a tumble in June?
• Regis Resources share price jumps 11% amid Twiggy Forrest raid
• AVZ share price remains suspended, but a return is in sight
• Why did the Soul Pattinson share price go backwards in June?

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 MoneyMe Ltd (ASX: MME) share price is surging into the green on Friday.

At the time of writing, shares in the provider of retail consumer finance are tracking 28% higher at 73 cents apiece.

MoneyMe shares are catching bids today following a company announcement regarding its funding platform.

What did MoneyMe announce?

The MoneyMe share price is soaring after the company advised it completed its inaugural term securitisation of personal loan customer receivables on 30 June. This has concurrently increased its undrawn securitisation funding capacity.

Securitisation is a process of collecting receivables (mortgages, auto loans, credit card receivables etc) into a large pool, and then packaging these into an investment product to be sold to investors.

Investors then receive the cash flows from these loans as a distribution, while lenders are happy to remove the liability off the balance sheet. As an asset class, they are called asset-backed securities, or mortgage-backed securities.

The MoneyMe transaction was made up of a $200 million term securitisation and a private placement with three Australian investors. It earned a triple-A rating for its senior tranche from Moody’s ratings.

The securitised loans also free up $200 million of funding capacity in MoneyMe’s warehouses, it says.

As a result, MoneyMe increased external securitisation funding facilities to $1.65 billion, while undrawn capacity increased to $388 million.

The transactions have also helped to reduce the group’s securitisation cost of “funds drawn margin to circa 3.1%”.

Speaking on the update fuelling the MoneyMe share price today, CEO Clayton Howes said he was pleased to see the “consistent step changes being made in [the company’s] securitisation funding program”.

Our inaugural term securitisation is incredibly exciting, with Moody’s Aaa (sf) rating a testament to our track record of consistent credit performance and underwriting standards.

We remain focussed on executing our strategy: profitable growth, innovation, maintaining the quality of our loan book, and efficiency and accuracy in credit decisioning thanks to our proprietary lending technology platform.

In the last 12 months, the MoneyMe share price has collapsed by around 68%.

The post What’s propelling the MoneyMe share price 28% higher today? appeared first on The Motley Fool Australia.

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More reading

• ASX 200 midday update: Regis Resources jumps, BHP and Rio Tinto drop
• Why is the Austal share price sailing 28% higher today?
• These ASX 200 mining shares are digging a deeper hole on Friday
• Why did the BHP share price take a tumble in June?
• Domestic bliss: Praemium share price surges 18% after international business split

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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