In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. At the time of writing, the benchmark index is up 0.6% to 7,522.9 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

Bank of Queensland Limited (ASX: BOQ)

The Bank of Queensland share price is down 5.5% to $8.05. Investors have been selling this bank’s shares following the release of its half year results. Bank of Queensland delivered a 14% increase in cash earnings to $268 million thanks to lending momentum, higher non-interest income, carefully managed costs, and a loan impairment expense credit. However, Citi noted that while the bank outperformed its earnings estimates, its ME Bank business disappointed with its home loan growth.

Iluka Resources Limited (ASX: ILU)

The Iluka share price is down 1% to $12.41. This decline appears to have been driven by a broker note out of Citi this morning. According to the note, the broker has downgraded the mineral sands and rare earths producer’s shares to a sell rating with a $10.50 price target. It made the move largely on valuation grounds.

New Hope Corporation Limited (ASX: NHC)

The New Hope share price is down almost 6% to $3.52. This has been driven by the coal miner’s shares trading ex-dividend for its monster dividend. Eligible New Hope shareholders can now look forward to receiving this fully franked 30 cents per share interim dividend at the beginning of next month on 4 May.

Zip Co Ltd (ASX: Z1P)

The Zip share price is down a further 4.5% to $1.23. This buy now pay later provider’s shares have come under pressure again today after analysts at Macquarie Group Ltd (ASX: MQG) spoke negatively about the industry. According to the note, the broker’s data shows that BNPL web traffic declined during March. It feels this is a “red flag for the BNPL industry.”

The post Why Bank of Queensland, Iluka, New Hope, and Zip shares are falling today appeared first on The Motley Fool Australia.

More reading

• Bank of Queensland share price sinks 6% on half-year update
• ASX 200 midday update: Bank of Queensland sinks, Allkem jumps
• Here’s why the New Hope share price is sliding 7% today
• Bank of Queensland shares in focus amid strong first half profit growth
• 5 things to watch on the ASX 200 on Thursday

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. owns and has recommended ZIPCOLTD FPO. The Motley Fool Australia has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) looks set to end the week in a positive fashion. At the time of writing, the benchmark index is up 0.6% to 7,525.7 points.

Four ASX shares that are climbing more than most are listed below. Here’s why they are racing higher:

Allkem Ltd (ASX: AKE)

The Allkem share price is up 2% to $13.52. Investors have been buying this lithium miner’s shares following the release of its third quarter update. According to the release, Allkem’s Mt Cattlin and Olaroz operations delivered record revenue for the quarter. This led to Allkem reporting quarterly group revenue of US$235 million and group gross operating cash margin of US$189 million.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The Domino’s share price is up 2% to $81.34. This morning the team at Morgans retained its add rating but lowered its price target on this pizza chain operator’s shares to $100. While the broker expects inflationary pressures to weigh on its margins, it sees more than enough value in its shares to recommend it as a buy.

Qantas Airways Limited (ASX: QAN)

The Qantas share price is up 8% to $5.49. This appears to have been driven by comments out of Delta Airlines in the US overnight. Although the airline operator posted a loss for the first quarter, it spoke very positively about its outlook. This has given a lift to travel stocks across the globe.

Uniti Group Ltd (ASX: UWL)

The Uniti share price is up 3% to $4.97. This morning the telco announced that it has entered into a binding scheme implementation deed with the Morrison/Brookfield Consortium. This will see the consortium acquire Uniti for a cash consideration of $5.00 per share less any dividends declared or paid after today.

The post Why Allkem, Domino’s, Qantas, and Uniti shares are racing higher appeared first on The Motley Fool Australia.

More reading

• Why is the Qantas share price flying 7% higher today?
• Lithium boom: Allkem share price hits record high on Q3 update
• Which ASX lithium shares does Macquarie tip to outperform?
• ASX 200 midday update: Bank of Queensland sinks, Allkem jumps
• Uniti share price lifts to 52-week high on sweetened takeover deal

Motley Fool contributor James Mickleboro owns Orocobre Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited and Uniti Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Shares of Cochlear Limited (ASX: COH) are inching forward on Thursday to trade 56 basis points higher at $225.98.

After a swift recovery in March, where shares thrust off a bottom of $190 – from $182 in January as well – Cochlear is now trading 4% higher this year.

Is Cochlear a buy?

Analysts have turned more constructive on the company since it released its first half results earlier this year.

Since then, the number of brokers advocating to buy Cochlear has surged to 42%, in line with the percentage of holds.

Still, almost 16% of coverage reckons to sell the stock right now, with RBC Capital Markets pricing a $149 per share valuation on Cochlear.

However, despite the balanced view, Cochlear is trading above its consensus price target of $221.18 apiece.

Analysts at JP Morgan were clearly impressed by the company’s latest earnings, noting the “strong result signals [its] growth story [is] clearly intact,” in a recent note.

“Cochlear reported a strong first half as European and emerging market implant volumes recovered, despite headwinds from multiple COVID waves,” it said.

“The result was also supported by a sharp lift in Services revenue as upgrades lifted as well as very strong Acoustic sales growth. This result signals the recovery is now broad-based, with the pandemic headwinds now manageable confirming the resilience of the growth story,” the broker added.

Given its performance, JP Morgan has now dampened its concerns surrounding the maker and researcher of cochlear implant systems.

However, valuation remains a concern, and with some foreseeable challenges ahead, the broker is comfortable on the sidelines at a neutral rating.

“Cochlear’s key markets have recovered more rapidly than we had feared given this results strong beat…we think the company is well positioned to return to its strong historical growth profile,” it noted.

“While the medium-term outlook remains compelling with the stock trading at its 5 year average [price to earnings] P/E and with limited upside to our DCF-based price target, we have retained our neutral rating (June 2022 price target lifted to $223 from $207).”

The post The Cochlear share price has shaved 13% from its all-time high. Is now the time to pounce? appeared first on The Motley Fool Australia.

More reading

• ASX 200 healthcare shares were chronically ill last quarter. Take a look
• What’s the outlook for the Cochlear share price in April?
• 3 more of the ‘best’ ASX 200 shares to buy this month: Morgans
• Why is the Cochlear (ASX:COH) share price sliding today?
• 3 ASX healthcare shares rated as buys by a leading broker

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. owns and has recommended Cochlear Ltd. The Motley Fool Australia has recommended Cochlear Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Elmore Ltd (ASX: ELE) shares are exploding today on the one year anniversary of the minerals processing company rejoining the ASX.

The Elmore share price is currently 5 cents and up 51.52%. In earlier trading, it hit a 52-week high of 5.6 cents. By contrast, the S&P/ASX All Ordinaries Index (ASX: XAO) is up 0.68% today.

Let’s take a look at what is happening at the company.

Elmore shares up on ‘monumental milestone’

The Elmore share price is lifting after the company announced it is starting commercial production at its Peko State 1 Magnetite Processing Plant in the Northern Territory.

The company is escalating production with a target of 350,000 tonnes per annum. This is the rail capacity limit. The plant was recently commissioned and Elmore started transporting magnetite product to the Darwin Port. Water has now been connected.

Elmore is also transitioning from daylight production to becoming a 24-hour site.

The company will sell magnetite from the plant and plans to add copper, cobalt, and gold to the mix. Elmore could fetch $US200 per tonne for the magnetite, based on recent pricing of the China Steel 65% Magnetite Concentrate Index.

Commenting on the news, Elmore managing director David Mendelawitz said:

Today marks exactly one year to the day since Elmore was reinstated to official quotation on the ASX. Whilst it hasn’t been easy, we are very proud of what we have achieved against all odds, both in regards to return to shareholders and the delivery of our first, cornerstone project.

Commencement of commercial production at Peko is a monumental milestone for us as a small, start-up service company.

Elmore share price snapshot

The Elmore share price has soared 121% in the year to date and 143% over 12 months.

In the past month, Elmore shares have jumped 70%.

Elmore has a market capitalisation of about $27 million based on the current share price.

The post This ‘monumental milestone’ just sent the Elmore share price skyrocketing 52% appeared first on The Motley Fool Australia.

More reading

• The Cochlear share price has shaved 13% from its all-time high. Is now the time to pounce?
• What’s sending the Webjet share price 6% higher on Thursday?
• Why is the Qantas share price flying 7% higher today?
• Could interest rate hikes send the gold price into the mountains?
• Why is the Transurban share price revving up on Thursday?

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 Bruce Jackson.

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The Webjet Limited (ASX: WEB) share price is launching higher on Thursday.

Its gains come amid news the United States’ Delta Air Lines Inc (NYSE: DAL) broke even last month and is forecasting more strong performance for the June quarter.

That’s likely inspiring positive sentiment of ASX travel shares, with many of Webjet’s peers recording similar gains today.

At the time of writing, the Webjet share price is $5.77, 6.07% higher than its previous close.

That makes it the second best performing S&P/ASX 200 Index (ASX: XJO) share behind Qantas Airways Limited (ASX: QAN) on Thursday. Right now, the ASX 200 has gained 0.6%.

Let’s take a closer look at what might be boosting the ASX 200 travel stocks on Thursday.

Is this boosting the Webjet share price?

The Webjet share price is taking off today amid news international airline, Delta Air has returned to profitability.

The airline recorded an adjusted operating margin of almost 10% for the month of March. That’s allowed it to recapture higher fuel prices.

It expects that will rise to between 12% and 14% in the June quarter, driven by robust demand and the increasing return of business and international travel.

The airline predicts its total revenue for this quarter will come to between 93% and 97% of that of 2019’s June quarter.

It also expects the price of fuel to increase in the current quarter.

Delta spent an average of US$2.79 per gallon of fuel in the March quarter. That’s expected to rise to between US$3.20 and US$3.35 in the June quarter.

Of course, such sentiment is likely good news for the broader travel industry and, in return, Webjet’s bottom line.

And it’s not just the Webjet share price on the up-and-up today. Right now, the Qantas share price is trading around 7.6% higher.

Meanwhile, the Flight Centre Travel Group Ltd (ASX: FLT) share price is up 5.2% and that of Corporate Travel Management Ltd (ASX: CTD) has gained 2.8%.

The post What’s sending the Webjet share price 6% higher on Thursday? appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to buy today
• Why AVZ, EML, Iluka, and Webjet shares are charging higher
• Webjet share price takes off following broker upgrade
• Why is the Webjet share price having such a lousy start to the week?
• These are the 10 most shorted ASX shares

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 recommended Delta Air Lines. The Motley Fool Australia has recommended Corporate Travel Management Limited, 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 Bruce Jackson.

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Qantas Airways Limited (ASX: QAN) shares are tracking higher today, up 7.37% to $5.47 apiece.

Qantas shares may be rising after US airline carrier Delta Air Lines Inc (NYSE: DAL) spurred a rally of US airline stocks overnight.

What’s driving the Qantas share price higher?

Delta has made some bold and bullish projections about a rebound in summer travel. This sent airline share prices in the US higher overnight and Qantas appears to be following in their footsteps.

Bloomberg reported: “The carrier said strong summer bookings will help it offset fuel costs and a slow return of business travel.”

From its earnings report yesterday, Delta remarked:

Domestic consumer revenues are exceeding 2019 levels and the recovery in business travel, revenue has accelerated as offices reopen and business travellers rebuild face-to-face relationships.

Demand for long-haul international is growing, as travel restrictions lift, led by the Transatlantic. To date, we have not seen an impact to travel demand from the conflict in Ukraine, but we, of course, are monitoring this closely. Nearly all European countries have now removed entry testing requirements for vaccinated customers.

We continue to join the rest of the US travel industry, in urging the US government to lift pre-departure testing requirements.

What else is happening with Qantas?

Earlier in the week, Qantas faced allegations from consumer advocacy group Choice relating to its flight credit policies.

In the past 12 months, the Qantas share price has grown by just 5%. However, it has spiked 11% in the past month.

The post Why is the Qantas share price flying 7% higher today? appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: Bank of Queensland sinks, Allkem jumps
• Qantas share price flies away from ‘unfair and unworkable’ flight credit claims
• What went so wrong for ASX travel shares today?
• Why did the Qantas share price have such a tough time of it today?
• ASX travel shares have been flying higher over the past month. Here’s why

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 recommended Delta Air Lines. 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 Bruce Jackson.

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That old chunk of yellow metal may not be the most exciting investment, but the gold price has outshined many markets over the last year.

Traditionally used as a safe haven, the precious metal has regained its appeal amid a tumultuous time in the world. Not only are global economies battling with the after tremours of COVID-19 in the form of inflation — there continues to be uncertainty surrounding the Ukraine invasion.

However, as inflation runs rampant, increases in interest rates look more certain and sooner. What does that mean for the gold price?

Kiwi in the coal mine for the gold price

Historically, investors might shy away from gold when interest rates begin to lift. The belief is improving yields in cash and bond markets would persuade would-be gold bugs to another area away from the safe-haven metal.

If that were to be true, then the Reserve Bank of New Zealand (RBNZ) is leading the charge in testing whether rate increases will pull funds out of the commodity.

Across the ditch, New Zealand upped its interest rates by 50 basis points yesterday to 1.5%. Hitting the highest level since June 2019, a time before the inundation of monetary stimulus created by the pandemic.

Yet, the gold price did not balk at the move. Instead, the glimmering commodity pushed forth with its recent march upwards. Since 6 April, the commodity’s price has rallied from US$1,925 to its current level of US$1,977, up 2.7%.

We spoke with the head of distribution for ETF Securities Australia, Kanish Chugh, who explained why higher rates may not be the negative influencer investors expect.

It’s a very unique moment in terms of when traditional or previous rates rate hike cycles have been, you haven’t had this combination of impacts and influences. You haven’t had the high inflation prints that are coming out; wage growth in the US; and particularly haven’t had that geopolitical Ukraine tension — not only from a geopolitical sense, but then also on the supply side as well, because a fair amount of precious metals comes out of Russia. So, considering all those factors you actually see a bit more of a gold price support.

In addition, Chugh added that the gold price has tended to outperform (in US dollar terms) the likes of the S&P 500 when measured 12 months after the first rate hike.

What are the rate hike expectations in Australia?

As of this week, three of the big four Aussie banks expect the first interest rate increase since 2010 will be handed down in June. The expectation comes as Australia’s annual CPI inflation rate hits 3.5%.

Both the Commonwealth Bank of Australia (ASX: CBA) and Westpac Banking Corp (ASX: WBC) suspect there will be five rate rises over the following 6 months. Whereas National Australia Bank Ltd. (ASX: NAB) and Australia and New Zealand Banking Group Ltd (ASX: ANZ) are forecasting four.

Ultimately, how the gold price responds will likely depend on various other factors in addition to rate increases. Especially if investors are concerned that a sudden rate hike could pose the potential for a slowing in economic growth.

The post Could interest rate hikes send the gold price into the mountains? appeared first on The Motley Fool Australia.

More reading

• Why is the Transurban share price revving up on Thursday?
• Woodside share price lifts amid US listing plans
• Why did the Atomos share price just tumble 16%?
• Goldman Sachs names 3 ASX 200 mining shares to buy today
• The South32 share price is closing in on its all-time high. Here’s why

Motley Fool contributor Mitchell Lawler owns Commonwealth Bank of Australia. 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 Bruce Jackson.

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The Transurban Group (ASX: TCL) share price is in the green today on the release of the company’s latest quarterly update.

And what a quarter it was. The company saw average daily traffic (ADT) on its toll roads rise 0.4% from that of the previous comparable quarter.

That points to a ‘return to normal’ following the COVID-19 pandemic and resulting restrictions.

At the time of writing, the Transurban share price is trading at $13.67, 0.37% higher than its previous close.

For comparison, the S&P/ASX 200 Index (ASX: XNJ) has gained 0.48% today. Meanwhile, the S&P/ASX 200 Industrials Index (ASX: XNJ) – home of Transurban – has risen 0.89%.

Let’s take a closer look at today’s news from the toll road operator.

What’s driving the toll road operator’s stock?

The Transurban share price is rising on Thursday. Its gains follow the release of its quarterly update for the three months ending 31 March.

The company saw an uptick in the use of its toll roads over the period compared to the same point in 2021. However, its ADT was 3.4% lower than that of 2019’s March quarter.

“The March quarter again demonstrated traffic recovery occurring in line with the progressive easing of government restrictions and increased economic activity,” the company noted.

Severe weather and flooding in southeast Queensland and northern New South Wales impacted the use of toll roads during the period. However, traffic quickly rebounded following the events.

Sydney recorded a 5% drop in ADT, although the city’s ADT was 9.8% higher than in 2019. Meanwhile, Brisbane’s ADT fell 0.6% but was 0.5% higher than in 2019.

Looking at Victoria, March brought CityLink its highest monthly average daily traffic numbers since the onset of the pandemic.

ADT rose 5.6% in Melbourne last quarter, helped by lifting COVID-19 restrictions. However, the city’s ADT was down 16.5% compared to that of 2019.

Additionally, the return of mostly unrestricted domestic travel saw Transurban’s Australian airport-focused assets record their busiest periods since March 2020.

It was a similar story in the Greater Washington area in the United States, where March traffic on the 95 Express Lanes was at its highest since the pandemic began. Traffic in Montreal, Canada, also rose slightly for the quarter versus pre-pandemic levels.

ADT numbers in North America rose 19.6% last quarter, alongside the average dynamic toll price on the 95 Express Lanes and the 495 Express Lanes. However, the region’s ADT fell 10.7% on that of 2019.

Transurban advised the West Gate Tunnel Project in Victoria was still set to open in late 2025, with the company making progress on all three sections of the project last quarter.

Transurban share price snapshot

The Transurban share price has been struggling lately.

It’s currently 1.9% lower than it was at the start of 2022. For context, the ASX 200 has slipped 0.97% this year.

The toll road operator’s stock has also slipped 0.22% over the last 12 months while the index has recorded a 7% gain.

The post Why is the Transurban share price revving up on Thursday? appeared first on The Motley Fool Australia.

More reading

• Why did the Transurban share price have such a good run in March?
• Broker names 3 more of best ASX 200 shares to buy in April
• 5 things to watch on the ASX 200 on Wednesday
• 2022 is not being kind to the Transurban (ASX:TCL) share price. Could this be set to change?
• Which ASX 200 shares is AFIC (ASX:AFI) betting on to make money?

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 Bruce Jackson.

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Oil remains buoyant this week with Brent crude now back above US$100 per barrel. At the time of writing, it is fetching US$108/Bbl.

In the meantime, natural gas markets continue raging to yearly highs with the natural gas price nudging US$7.05/MMBtu on Thursday.

Woodside Petroleum Ltd (ASX: WPL) shares are also lifting in afternoon trade to $32.36. This follows an announcement by Woodside today that it plans to list on the New York Stock Exchange (NYSE).

US listing plans give Woodside share price a bump

Woodside shares are currently up 0.97% at the time of writing.

The company proposes the listing to occur after the merger with BHP Group Ltd (ASX: BHP), which is set for June.

Woodside said it intends to list its shares on the NYSE in the form of American Depositary Shares (ADSs). It has filed the necessary F-4 form to register its shares – akin to an initial public offering (IPO) on the ASX, albeit for foreign companies listing on US exchanges. This allows investors to trade the equity of non-US companies on a local exchange.

Woodside said it hopes to list in June after the merger with BHP is finalised. Last week, the pair took another step on the ladder in gaining third-party approval from an independent auditor.

“The listing on the NYSE is expected to become effective on completion of the Merger, targeted for
1 June 2022,” Woodside said. “Each Woodside ADS represents one ordinary share of Woodside.”

The company stated further:

The Registration Statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective.

The effect on ASX investors is there will be more liquidity, which has implications for trading activity.

Investors seeking more information on Woodside’s ADS listing can read the F-4 and F-6 forms here.

Woodside share price snapshot

Woodside shares have climbed 47% this year to date and are up by 34% over the past 12 months.

The post Woodside share price lifts amid US listing plans appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Thursday
• Could these ASX shares be the new FAANG stocks on the block?
• Why did the Woodside share price just get hit with a 5% downgrade?
• What’s with the Woodside share price on Monday?
• 5 things to watch on the ASX 200 on Monday

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 Bruce Jackson.

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The Atomos Ltd (ASX: AMS) share price is losing ground today following the surprise conclusion of a senior leadership figure.

During mid-afternoon trade, the video technology company’s shares are down 16.11% to 75.5 cents.

Atomos appoints interim CEO

Investors are selling Atomos shares after the shock announcement that its CEO, Estelle McGechie will no longer serve in the role.

According to the release, Ms McGechie has yet to relocate to Australia, which is a requirement for the top job.

Atomos stated that its CEO must reside in Melbourne where its headquarters is based.

As a result of the departure, Atomos chief technology officer, Trevor Elbourne will assume the CEO role for the interim.

Mr Elbourne, who lives in the Victorian capital, is expected to launch the company’s new products later this month. He and his team have been diligently working on improving video production workflows for the last two years.

Notably, Mr Elbourne is one of Atomos’ founding employees, having joined the company in 2012. Since then, he has played a vital role in determining Atomos’ technology strategy and product roadmap.

In 2017, Mr Elbourne was appointed chief technology officer and oversaw the successful development of Atomos’ flagship Ninja V and Shinobi products.

The board advised it will commence a global search process for a permanent appointment.

Atomos reconfirmed its FY22 guidance for revenue of $95+ million as well as an EBITDA margin of 12% to 15%.

Atomos’ non-executive chair, Chris Tait touched on the CEO change saying:

I would like to thank Estelle for her efforts at Atomos and on behalf of the Board wish her the best in her future endeavours.

Trevor is a logical and highly capable appointment as interim CEO given his intimate knowledge of the products and technology that have made Atomos one of the global leaders in video technology today.

As the Company embarks on an exciting expansion of our product line-up, the Board is confident Trevor will bring his deep experience in technology innovation to ensure our products continue to meet the changing needs of our growing customer base.

About the Atomos share price

Over the past 12 months, Atomos shares have lost 25% in value, with year to date dropping around 30%.

Based on today’s price, Atomos has a market capitalisation of roughly $168.98 million.

The post Why did the Atomos share price just tumble 16%? appeared first on The Motley Fool Australia.

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• Altium share price: Is it an ASX buy or a falling knife?
• Netwealth share price falls after third quarter update disappoints
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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Atomos Ltd. The Motley Fool Australia has recommended Atomos Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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