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.

What happened

The price of the world’s largest cryptocurrency, Bitcoin (CRYPTO: BTC), and several crypto-related stocks including the large cryptocurrency exchange Coinbase Global (NASDAQ: COIN) and the crypto bank Silvergate Capital (NYSE: SI) all are rising today. The cryptocurrency market has been in recovery mode this week, while Silvergate and Coinbase received positive sentiment from Wall Street. 

The price of Bitcoin had risen more than 4% over the last 24 hours, as of 3:07 p.m. ET today. Meanwhile, shares of Coinbase and Silvergate traded nearly 3.3% and 5.6% higher, respectively, during normal trading hours.

So what

Bitcoin is having a nice week and recently reached roughly $43,971, which is close to its highs for 2022, following a major pullback that began last October. It’s hard to say exactly what is leading to the recovery and there’s no indication that it will last.

But BlackRock CEO Larry Fink recently said in his annual letter to shareholders that Russia’s invasion of Ukraine will hasten the speed at which central banks warm to and ultimately utilize digital assets. 

“The war will prompt countries to reevaluate their currency dependencies,” Fink wrote in his letter. “Even before the war, several governments were looking to play a more active role in digital currencies and define the regulatory frameworks under which they operate.”

Ukraine, for instance, has received roughly $100 million in crypto donations. Deputy Minister of Digital Transformation Alex Bornyakov said recently that because “the national bank is not really operating, crypto is helping to perform fast transfers, to make it very quick and get results almost immediately.”

The flip side is in Russia, where digital assets may be helping some in the country avoid sanctions. Russian lawmakers have also discussed accepting cryptocurrencies like Bitcoin as payment for oil. Although there are both good and bad outcomes, it’s likely countries and their governments and central banks will look at and think about cryptocurrencies differently now.

In other news, Silvergate and Coinbase saw a lot of bullish sentiment from Wall Street, as well some negative sentiment. 

Earlier this week, Bank of America analyst Brandon Berman initiated a buy rating on Silvergate and a $200 price target, implying strong upside from current levels even after a nice run this week. Silvergate has built a proprietary real-time payments network that allows parties on the network to send and clear payments instantly, which better facilitates crypto trading. Parties that join the network bring large sums of deposits to Silvergate Capital, which the bank can deploy into higher-yielding assets as interest rates rise. The bank is expected to see profits soar in a rising-rate environment. 

Coinbase has also seen some action on Wall Street. Earlier this week, the famous short-seller Jim Chanos disclosed that he and his fund are shorting the stock because they believe the company’s earnings are inflated.

But today on Yahoo! Finance, MoffettNathanson analyst Lisa Ellis called Coinbase a “one-of-a-kind asset providing the infrastructure layer for the crypto economy.” MoffettNathanson has maintained its buy rating on Coinbase and has a price target of $600, implying significant upside from Coinbase’s current roughly $190 share price. 

Now what

I certainly think Fink makes some interesting points about how cryptocurrencies and digital assets have been positioned during the Russia-Ukraine conflict. Governments and central banks will likely take an even closer look at how they can use these newer digital currencies.

I am very interested and uncertain right now as to how Bitcoin will perform in the upcoming rising-rate environment. But I am bullish on Coinbase and Silvergate, as I like companies that provide the infrastructure for the burgeoning crypto industry, especially as the case for crypto adoption gets clearer every day. 

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

The post Why Bitcoin and Coinbase are rising today appeared first on The Motley Fool Australia.

More reading

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• Why Bitcoin, Ethereum, and crypto stocks are soaring
• Why this expert says the Ethereum price will triple in 2022
• Will higher interest rates take a bite out of the Bitcoin price in 2022?
• What’s ahead for the Bitcoin price in 2022 amid rising interest rates?

Bank of America is an advertising partner of The Ascent, a Motley Fool company. Bram Berkowitz owns Bitcoin and Silvergate Capital Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Bitcoin and Coinbase Global, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Silvergate Capital Corporation. 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.

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

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Analysts believe the Bank of Queensland Limited (ASX: BOQ) share price and dividend will both rise from the current levels.

BOQ is one of the ‘challenger’ banks on the ASX. According to the ASX, it has a market capitalisation of more than $5 billion. But, it’s still nowhere near as big as the big four ASX bank shares of Commonwealth Bank of Australia (ASX: CBA), National Australia Bank Ltd (ASX: NAB), Westpac Banking Corp (ASX: WBC), and Australia and New Zealand Banking Group Ltd (ASX: ANZ).

But the acquisition of ME Bank has increased the size of the business, giving it more financial firepower to challenge in the sector.

ME Bank to help profit?

Just over a year ago, BOQ announced it was buying ME Bank for $1.325 billion, to create a compelling alternative to the big banks.

BOQ said it was a transformational acquisition that is strategically aligned.

At the time, BOQ said the deal was expected to deliver material scale, broadly doubling the retail bank and providing geographic diversification. It believed the deal would combine strong complementary trusted brands, with shared customer-centric cultures and differentiated customer segments.

Management said there was a clear pathway to a scaled, cloud-based digital retail bank technology platform.

The acquisition was expected to be financially compelling, adding to cash earnings per share (EPS) by low double-digits to mid-teens, including full run-rate synergies in FY22. It was also expected to add to the cash return on equity (ROE) by over 100 basis points including the full run rate of first-year synergies. Synergies were expected to reach between $70 million and $80 million pre-tax by year three.

Analyst thoughts on the BOQ share price

Morgan Stanley is one of the brokers that likes the look of BOQ. It has a price target of $10.20, suggesting an upside of around 20% on the current share price of $8.45.

BOQ’s recent performance update showed that ME Bank only returned to growth in the month of November. But the bank did say its growth momentum continued in the first quarter of FY22, with strong application volume across both the housing and business lending portfolios.

The BOQ, Virgin Money, and BOQ specialist housing portfolio increased by around $1 billion for the quarter. Business banking lending grew by around $200 million in the first quarter, with the asset finance business also performing “well”.

The broker noted that BOQ is focused on delivering “positive jaws”. FY22 expenses are expected to be around 1% lower than FY21, reflecting additional productivity benefits. The ME Bank integration program remains “on track”, with approximately $23 million of full-year synergies delivered during the first quarter.

It was also noted the banking industry is experiencing net industry margin (NIM) headwinds as a result of more challenging trading conditions, partly due to price competition.

In terms of projections, Morgan Stanley thinks the current BOQ share price is valued at 11x FY23’s estimated earnings, with profit growth expected in FY23. The FY23 grossed-up dividend yield is expected to be 8.6%.

At the time of writing, the BOQ share price is up 0.24% today at $8.45.

The post Bank of Queensland (ASX:BOQ) tipped for both share price and dividend boost appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has 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 NextDC Ltd (ASX: NXT) share price is edging higher on Friday.

In afternoon trade, the data centre operator’s shares are up 0.5% to $11.05.

This latest gain has reduced its year to date decline to approximately 13%.

Is the NextDC share price good value?

While the weakness in the NextDC share price is disappointing for shareholders, it could be a buying opportunity for others.

For example, a recent note out of Citi reveals that its analysts see plenty of upside for the company’s shares from current levels.

According to the note, the broker has a buy rating and $14.55 price target on its shares. Based on the current NextDC share price, this implies potential upside of almost 32% for investors over the next 12 months.

What did the broker say?

Citi was pleased with NextDC’s half year results last month and highlights improving revenue metrics.

And while it has trimmed its earnings estimates slightly to reflect a slower than expected conversion of its sales pipeline, it remains very positive on the future. Particularly given how its FY 2023 earnings estimates are already largely locked in thanks to NextDC’s sales backlog.

The broker explained:

“NXT delivered a strong result with increasing utilisation of Gen 2 assets driving solid revenue growth and margin expansion, while revenue metrics improved HoH (revenue per MW up 7% HoH).

“While the current backlog underpins FY23e earnings, we have lowered our forecasts to reflect a slower ramp and conversion of the pipeline. We maintain our Buy call and see the conversion of Hyperscale customer commitments in Sydney and Melbourne as the next key catalyst (likely in 1H23e).”

All in all, with the NextDC share price trading well off its highs, this broker appears to see it as a buying opportunity for investors.

The post Why this top broker tips 30% upside for the NextDC (ASX:NXT) share price appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro owns NEXTDC 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 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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Many S&P/ASX 200 Index (ASX: XJO) shares have been struggling in 2022 so far. The ASX 200 Index is itself still down around 2.3% year to date thus far, despite the recent run of pleasing performance we have seen. And the Woolworths Group Ltd (ASX: WOW) share price hasn’t done much better. 

Woolworths shares are today going for $36.24 at the time of writing. That puts the grocery giant at a 2022 loss of 5.8%, significantly under the index. 

So why this disappointing performance from Woolworths shares?

Well, it’s not entirely clear. The last major announcement out of the company was the half-year earnings results last month. This was something of a mixed bag. Although Woolies reported 8% revenue growth, it also revealed that earnings and net profits were both down. Investors were also asked to weather a 26.4% cut to the company’s interim dividend.   

Investors didn’t seem too phased at the time, judging by the movements, or lack thereof, in the Woolworths share price at the time. But equally, they didn’t seem inspired either.

But we also have some headwinds that the company continues to face in 2022. As confirmed in the earnings report, Woolworths’ costs are rising. And not least fuel. The higher fuel prices we have seen in recent weeks will be hurting Woolworths. Distribution centres need to be filled and stores need to be stocked. This is usually done via road transport, which of course is a fuel-intensive exercise at the best of times, but would have only gotten more expensive in recent weeks. So perhaps this has been weighing in investors’ minds too.

Is the Woolworths share price a buy right now?

Of course, Woolworths is not alone in facing these pressures, so the company always has the option to raise prices to compensate. But one could still argue Woolworths shares are facing a few obstacles to higher profitability at the moment.

However, one expert ASX investor reckons the Woolworths share price is still cheap at today’s levels. As we covered earlier this month, broker Citi liked what it saw in Woolies’ half-year earnings, and maintained a buy rating on the shares. The broker has a 12-month share price target of $40.30, which implies a potential future upside of just over 11% on current pricing. 

Citi sees Woolies benefitting from easing COVID restrictions and margin benefits as customers return to stores. It also expects that the grocer will be able to benefit from food inflation, noting shelf price increases of 2-3% in the second half of FY2022 alone. 

So at least one ASX broker reckons Woolworths shares are a buy right now. No doubt shareholders will be hoping that the 11% upside Citi sees in the company turns out to be accurate. But, as always, we shall have to wait and see. 

At the current Woolworths share price, this ASX 200 blue-chip has a market capitalisation of $43.74 billion, with a dividend yield of 2.59%. 

The post The Woolworths (ASX:WOW) share price has been struggling in 2022. Could it be set for a turnaround? 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 Bruce Jackson.

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The BHP Group Ltd (ASX: BHP) share price is having a positive finish to the week.

In early afternoon trade, the mining giant’s shares are up over 1% to $49.89.

Why is the BHP share price rising?

Today’s rise by the BHP share price appears to have been driven by the release of a broker note out of Morgans this morning.

According to the note, the broker has upgraded the Big Australian’s shares to an add rating with a $51.80 price target.

Based on the current BHP share price, this suggests potential upside of almost 4% for investors. And while this isn’t overly exciting upside potential, let’s not forget that BHP is a big dividend payer.

Morgans is forecasting fully franked dividends per share of $3.68 in FY 2022 and $2.68 in FY 2023. This equates to yields of 7.4% and 5.4%, respectively, over the next two financial years.

What did the broker say?

The broker made the move after upgrading its iron ore price forecasts to factor in an expected steepening cost curve and higher sustaining steel demand.

Morgans expects BHP to benefit more than its rivals Fortescue Metals Group Limited (ASX: FMG) and Rio Tinto Limited (ASX: RIO). As a result, it has only got hold ratings on the latter two. Its analysts explained:

“While all trading in a narrow range in terms of discount to valuation, BHP remains our standout top preference amongst the iron ore miners. BHP offers superior diversification, operational performances, ability to defend against cost and labour pressures, and a solid yield profile.”

We also see potential catalysts around: Completing petroleum divestment, Potential coal divestments, Capital management, and New growth additions.

We remain neutral on Rio Tinto and Fortescue Metals Group, both on Hold. For RIO we see strong earnings offset by ongoing operational issues across its business continuing to bite. While for FMG we also see bumper FCF continuing but believe consensus is materially underestimating FMG’s capex profile for the next decade.”

The post BHP share price higher on broker upgrade appeared first on The Motley Fool Australia.

More reading

• The Fortescue (ASX:FMG) share price has gained 11% since early last week. What’s been happening?
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• The Rio Tinto (ASX:RIO) share price is up 9% in a week. Here’s why
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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 Bruce Jackson.

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The Fortescue Metals Group Limited (ASX: FMG) is marching higher today, up 0.5%.

Shares in the S&P/ASX 200 Index (ASX: XJO) iron ore miner closed yesterday at $18.94 and are currently trading for $19.04.

That puts the Fortescue share price up 11% since the closing bell on 15 March.

So why is the miner having such a good run?

What’s been piquing ASX 200 investor interest?

One of the tailwinds helping push the Fortescue share price sharply higher has been the rebound in iron ore prices.

The industrial metal is currently trading for US$146 per tonne, up from US$136 per tonne on 15 March.

That’s also helped propel rival ASX 200 miners BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) to roughly 9% gains over the same period.

The Fortescue share price may have gotten an extra boost, as unlike its 2 major rivals, the miner is almost a pure iron ore play.

Income investors may also be attracted to the company after it made the list of top-10 dividend paying companies in the world earlier this month. (Full details here.)

At the current price, Fortescue pays a whopping trailing dividend yield of 15.6%.

Fortescue share price snapshot

Despite the big recent rally, the Fortescue share price has underperformed that of BHP and Rio Tinto in 2022.

Year-to-date, Fortescue shares are down 4.1%. By comparison BHP and Rio Tinto shares have both gained 17.1% over that same period.

Year-to-date the ASX 200 is down 2.2%.

The post The Fortescue (ASX:FMG) share price has gained 11% since early last week. What’s been happening? appeared first on The Motley Fool Australia.

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• What do Fortescue (ASX:FMG), kinetic energy, and Formula One have in common?
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• How close is Fortescue (ASX:FMG) Future Industries to making green hydrogen?
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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 EML Payments Ltd (ASX: EML) share price is under attack from short sellers, with the company’s short interest increasing over the last few weeks.  

But why are market participants betting against the payment provider’s stock?

At the time of writing, the EML Payments share price is $2.89, 1.4% higher than its previous close.

For context, the broader market is also in the green on Friday, with the All Ordinaries Index (ASX: XAO) gaining 0.42% and the S&P/ASX 200 Index (ASX: XJO) rising 0.44%.

So, what could be driving EML Payment’s short position higher? Let’s take a look.

What’s boosting EML Payments’ short interest?

Betting against the EML Payments share price has ramped up in recent weeks, sending the company’s short position to 8.79%.

That means short sellers have borrowed and sold nearly 8.8% of the company’s stock, hoping its value will fall so it can re-purchase it at a lower price to return to the stock’s lender.

If successful, the short sellers will then pocket any falls in the EML Payments share price as a profit.

The company’s 8.8% short-selling position is significant – placing it as the ninth most shorted ASX share as of The Motley Fool Australia’s latest short-selling breakdown, published each week.

It also places the stock at its most shorted position in years. In fact, as recently as early February, the company’s short interest was tracking at around 5%.

As my colleague James Mickleboro noted, its short position could be due to concerns over the company’s valuation.

Earlier this month, Mickleboro reported EML Payments’ shares are trading at approximately 30 times the company’s estimated financial year 2022 earnings.

However, many brokers are bullish on the company’s future, despite the EML Payments share price having fallen 12% year to date.

Brokers at UBS and Ord Minnett are excited by a deal announced by the company earlier this month, which will see EML Payments entering the European employee benefits market.

EML Payments share price snapshot

The EML Payments share price has had a rough trot lately.

As mentioned above, it has slumped just over 12% so far in 2022. It has also tumbled 41% over the last 12 months, spurred by last year’s Irish disaster.

However, it’s still 88% higher than it was five years ago.

The post Why is the EML Payments (ASX:EML) share price being shorted so much lately? appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended EML Payments. The Motley Fool Australia owns and has recommended EML Payments. 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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At lunch on Friday, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is pushing higher. The benchmark index is currently up 0.45% to 7,420 points.

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

Premier Investments half year results

The Premier Investments Limited (ASX: PMV) share price is edging lower today. This is despite the release of the retail giant’s half year results, which revealed earnings ahead of guidance and a record dividend. The Smiggle and Peter Alexander owner reported a 5.5% increase in EBIT to $212 million and a record fully franked interim dividend of 46 cents per share.

BHP shares upgraded

The BHP Group Ltd (ASX: BHP) share price is pushing higher today after being upgraded by Morgans. According to the note, the broker has upgraded the mining giant’s shares to an add rating with a $51.80 price target. The broker made the move after upgrading its iron ore price forecasts.

Ampol’s Z Energy acquisition update

Ampol Ltd (ASX: ALD) shares are trading lower today despite a positive update on its proposed acquisition of Z Energy Ltd (ASX: ZEL). According to the release, Z Energy shareholders have voted in favour of the transaction at a meeting this morning. This brings the deal a step closer to completion. Though, it still requires the receipt of a ‘no objection statement’ from the Takeovers Panel, approval from the Overseas Investment Office, and final orders of the High Court.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Friday has been the BlueScope Steel Limited (ASX: BSL) share price with a 5% gain. This is despite there being no news out of the steel producer. The worst performer has been the Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price with a 3% decline. This medical device company’s shares have come under pressure this week following a guidance update.

The post ASX 200 (ASX:XJO) midday update: Premier’s record dividend, BHP upgraded appeared first on The Motley Fool Australia.

More reading

• Premier (ASX:PMV) share price on watch after earnings beat and record dividend
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• ASX 200 (ASX:XJO) midday update: Brickworks impresses, Uniti confirms takeover approach

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 recommended Premier Investments 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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Integrated media company, NZME Ltd (ASX: NZM) is making headlines today following a potential partnership with internet giant, Google.

At the time of writing, the NZME share price is rocketing 15.5% to $1.565 in early morning trade. This means that the company’s shares are up more than 25% in the past month alone.

What did NZME announce?

In its statement, NZME advised that it has signed a letter of intent with Google for the supply of news content to News Showcase. The latter is Google’s online news platform that allows participating publishers to share their expertise and thoughts.

Both parties will now enter a 90-day negotiation period to finalise the key terms set out in the proposal.

It is expected that the final contractual agreement will be based on a minimum term of five years.

NZME also noted that it is currently in commercial discussions with Meta, the parent company which owns Facebook and Instagram. The nature of the potential agreement is in regards to receiving support for a number of digital transformation projects over the next year.

If the Google deal materialises along with other anticipated commercial arrangements, NZME is forecasting an improved EBITDA for FY22. This would be in the range of $67 million to $72 million, given the current trading performance in hand.

NZME chief executive, Michael Boggs touched on the announcement, saying:

We are pleased to have reached a point with Google where we can partner with them to further enable digital growth across NZME’s business, boosting digital revenue for NZME and increasing our audience reach.

We look forward to reaching final agreement with Google that will see NZME’s news content supplied and shared through Google programmes, continuing to support the future of high quality, trusted journalism in Aotearoa.

About the NZME share price

After gaining 15% today, the NZME share price has more than doubled in value over the past 12 months.

Although, when looking at year to date, the company’s shares are up around 16%.

NZME has a price-to-earnings (P/E) ratio of 9.45 and commands a market capitalisation of roughly $308.21 million.

The post Little-known ASX share pops 15% following Google deal appeared first on The Motley Fool Australia.

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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. 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 Alphabet (A shares) and Meta Platforms, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Alphabet (C shares). The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), and Meta Platforms, Inc. 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 Qantas Airways Limited (ASX: QAN) share price is marching higher today. The airline is up 0.99%, outpacing the 0.46% gains posted by the S&P/ASX 200 Index (ASX: XJO) at this same time.

Qantas shares closed yesterday at $5.05 and are currently trading for $5.10.

That gives the flying kangaroo a market cap north of $9.5 billion.

So is the Qantas share price approaching its all-time highs?

Not yet!

The highest ever Qantas share price

2019 was a good year for Qantas shareholders.

The airline paid an interim and final dividend, totalling 25 cents, equating to a yield of 3.5% or more, depending on when you’d bought shares. It was also the last year the COVID-19-battered company paid any dividends.

The year was going so well that by 19 December 2019 the Qantas share price had gained more than 29% in the calendar year.

On that date, Qantas shares closed at $7.40, the highest closing price ever.

Qantas achieved that milestone despite rising fuel costs at the time. The record also came shortly after the airline announced its plans to be net carbon neutral by 2050.

What happened next?

Unless you’ve recently returned from Mars, you’ll likely know what happened soon thereafter.

The Qantas share price slipped heading into early 2020 but remained well above its early 2019 levels, right up until 21 February.

On that date, the great pandemic fuelled sell-off sent almost every ASX share tumbling for the next four weeks. ASX travel shares really got the stuffing knocked out of them as international and domestic borders slammed shut.

By 20 March, Qantas shares had cratered to $2.36, down a gut-wrenching 68% from their 19 December 2019 all-time highs.

Then on 20 March 2020, as you’re also likely aware, investors woke up to the reality that the fire sale had been overdone. And Qantas rallied alongside most ASX 200 shares.

The current Qantas share price of $5.10 may still be down 31% from its record closing high. But shares have gained 116% since the 20 March 2020 lows.

We hope shareholders remained seated with their seatbelts securely fastened.

The post What was the highest ever Qantas share price? appeared first on The Motley Fool Australia.

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