The S&P/ASX 200 Index (ASX: XJO) enjoyed a month of tentative gains over Febraury, as it turns out. Fresh from January’s disappointing returns, February saw the ASX 200 gain 1.1% for the month. Unfortunately, the Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price wasn’t so lucky.

ANZ shares spent February going backwards. This ASX 200 big four banking share began the month that was at $26.53 a share, but finished it up this week at $26.01. That’s a loss of 1.96%. And an underperformance of more than 3%. Ouch.

But perhaps more disappointingly for investors, ANZ was also one of the worst performing ASX bank shares over February.

The worst-performing ASX 200 bank share?

Commonwealth Bank of Australia (ASX: CBA) shares lost 0.3% of their value over last month. So not quite as bad as ANZ.

But National Australia Bank Ltd. (ASX: NAB) had a corker, rising 6.67% over the same period. 

Westpac Banking Corp (ASX: WBC) really came out on top though. As my Fool colleague Brooke dug into this morning, Westpac ended up giving investors a very pleasing 12.3% gain over February. 

So why were investors leaving ANZ shares in the relative dust?

Well, it might come down to a lack of exciting news for the bank. Take a comparison to Westpac, for instance. Westpac seemed to excite investors with the completion of a $2.5 billion on-market share buyback program mid-month. It also dropped a set of quarterly results, which saw investors push up Westpac shares at the time. 

Something similar happened with NAB.

But although ANZ released its own quarterly update on 10 February, it doesn’t seem to have had the same kind of wow factor. 

Another issue at play could be the falling owner-occupied mortgage market share issues that my Fool colleague Tony dug into last month. 

So after ANZ’s lacklustre February, could this ASX bank share be in the buy zone today? 

Are ANZ shares a buy today?

Well, one broker who thinks they might be is Goldman Sachs. Last month, Goldman kept its buy rating on ANZ intact, complete with a revised 12-month share price target of $30.84 a share (down from $31.82). That still implies a potential upside of more than 19% over the coming year. 

The broker reckons the softness that the bank is currently experiencing is “contained”. Further, Goldman notes that ANZ is “making progress to improve systems and processes for simple home loans”. 

At the current ANZ share price, this ASX 200 bank share has a market capitalisation of $72.58 billion, with a dividend yield of 5.5%. 

The post Why did the ANZ (ASX:ANZ) share price lag the other banks in February appeared first on The Motley Fool Australia.

More reading

• Own ANZ shares? Here’s the bank’s latest move to ‘better prepare for future growth’
• Greater Certainty: Why this top broker is bullish on ANZ (ASX:ANZ) shares in 2022
• Bad ATM? The ANZ share price was hammered more than any other ASX 200 bank today
• Should you be buying ASX 200 bank shares in February?
• Why ANZ (ASX:ANZ) shares have been punished, but experts are now bullish

Motley Fool contributor Sebastian Bowen owns National Australia Bank 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 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 A2 Milk Company Ltd (ASX: A2M) share price has gone on a rollercoaster ride since COVID-19 came along.

But the last 12 months show a sizeable decline. A2 Milk shares have plunged 42%.

The company sold vast amounts of infant formula as consumers stocked up their shelves for the lockdowns in 2020. But then demand shrank. The daigou significantly slowed down their purchasing. Chinese customers bought more products from Chinese companies.

A2 Milk ended up with more inventory and lower revenue. It had to take, and is taking, significant action to try to remedy things. An improving profit situation could provide a boost for the A2 Milk share price.

But the recent profit is still showing profit damage and decline.

Half-year result

It recently announced the report for the first six months of FY22.

A2 Milk said that market conditions continued to be challenging, with the Chinese infant formula market declining by 3.3% in value during the first half due mainly to the cumulative impact of a lower birth rate.

The company also said the Australian and US premium liquid milk markets saw growth.

Year on year, revenue was down 2.5% to $660.5 million. But this represented 24.8% growth in the second half of FY21.

Chinese label infant formula sales were constrained by A2 Milk in the first quarter to rebalance distributor inventory levels with sales down 11.4%. However, consumer offtake growth in-store and online was up by “double-digits” with a higher market share.

English and other label infant formula sales were down 9.8%, with a lower market share, but with an improvement in the sales trajectory during the half, particularly in the ANZ reseller channel.

Earnings before interest, tax, depreciation and amortisation (EBITDA) fell 45.3% to $97.6 million. The EBITDA margin was 14.8%, down from 26.4% a year ago. Net profit after tax (NPAT) fell 53.3% to $56.1 million.

But there may be promising times ahead, according to management.

Outlook for A2 Milk and the share price

It couldn’t give any specific guidance for the rest of FY22.

However, it did say it’s expecting Chinese label infant formula sales to be up in FY22. The second half is expected to be up “significantly” compared to the first half of FY22. This is due to the first half of FY22 having been impacted by distributor inventory rebalancing and in the second half as the company’s growth strategy starts to have a positive impact on sales.

English label infant formula sales are also expected to be up in FY22, with growth in the second half of FY22 compared to the first half due to improved inventory levels and pricing, as well as improved execution in the ANZ reseller and cross-border e-commerce channels.

Liquid milk sale growth is also expected in Australia and the US.

The company said that growth is going better than expected, though the gross profit margin isn’t expected to improve because of increasing milk, ingredient and packaging costs.

It’s focused on a number of initiatives to drive future growth.

Analyst rating on the A2 Milk share price

Opinions are mixed. Macquarie still rates the business as ‘underperform’ because of strong competition and higher spending (particularly on marketing).

Meanwhile, Citi rates it as a buy with a price target of $7.02 because of expectations for being able to increase prices and the tactics to improve things despite the difficulties.

The post What’s next for the A2 Milk (ASX:A2M) share price? appeared first on The Motley Fool Australia.

More reading

• Why the A2 Milk (ASX:A2M) share price can climb 40%: broker
• Top brokers name 3 ASX shares to buy next week
• Leading brokers name 3 ASX shares to sell today
• ‘The sleeper has awakened’: Top broker gives its verdict on the A2 Milk (ASX:A2M) share price
• ASX 200 shares stage comeback amid Russia optimism

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 A2 Milk. 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 edged almost 10% higher last month after a sluggish performance in late January.

Indeed, it was a strong finish, considering its shares touched a three-month high of $6.18 on 11 February.

Nonetheless, investors appear to have mixed feelings when it comes to deciding the value of Webjet shares in the current climate. Its shares have wobbled towards the back-end of February given the tense geopolitical standoff between the West and Russia.

At the time of writing, the online travel agent’s shares are down 3.80% to $5.32.

Is a full-recovery nearby for Webjet’s earnings?

It has been relatively quiet on the news front from Webjet, with its shares in a sideways channel of late.

Before ascertaining as to when Webjet’s earnings will return to normal levels, we take a look at its latest financials.

In November, the company released its first-half results for FY22, highlighting a rebound across the international travel industry.

Webjet reported a cash surplus of $3.5 million per month, a significant turnaround compared to FY21. Severe lockdowns led the company to record an average monthly cash burn of $5.5 million in the previous financial year.

Total Transaction Volume (TTV) revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) all soared over the 6-month period. TTV stood at 63% of pre-COVID volumes in its WebBeds’ B2B business with many travel markets still yet to reopen.

Revenue on the other hand, came to $55.4 million, more than double the $22.6 million achieved in H1 FY21. EBITDA registered a loss of $38.2 million, an improvement from the $114.4 million loss in the prior corresponding period.

Expenses were also down materially compared to pre-COVID, reflecting strategic initiatives implemented by the company.

If the microenvironment goes on to be stable, Webjet’s TTV could reach pre-COVID levels by the second-half of FY23. On top of that, its group portfolio will be a much leaner business, having trimmed 20% of operating costs.

Looking ahead, Webjet is scheduled to report its FY22 results towards the backend of May 2022.

Webjet share price summary

In the last 12 months, Webjet shares have lost around 5% after hitting the brakes in late January 2022. The share price closed at an eight-month low of $4.61 on 27 January.

Nonetheless, the company has gradually been moving on an upwards trend, but is still a long way off from pre-pandemic levels.

Based on valuation grounds, Webjet has a market capitalisation of around $2.02 billion, with approximately 380.51 million shares on issue.

The post How did the Webjet (ASX:WEB) share price travel in February? appeared first on The Motley Fool Australia.

More reading

• Why is the Webjet (ASX:WEB) share price having such a lousy start to the week?
• These are the 10 most shorted ASX shares
• These are the 10 most shorted ASX shares
• Is the Webjet (ASX:WEB) share price about to fly higher?
• The Webjet (ASX:WEB) share price has climbed 17% so far this year. Is it still a bargain?

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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended 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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At lunch on Wednesday, the S&P/ASX 200 Index (ASX: XJO) has bounced back from a poor start and is trading higher. The benchmark index is currently up 0.2% to 7,113.1 points.

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

Mining sector lifts ASX 200

The mining sector has played a major role in driving the ASX 200 index into positive territory on Wednesday. The likes of Rio Tinto Limited (ASX: RIO) and South32 Ltd (ASX: S32) are storming higher following a strong night for commodity prices. According to CommSec, the spot iron ore price rose 3.8%, the aluminium price climbed 3.3%, and the thermal coal price jumped 14%.

PointsBet shares sink

The PointsBet Holdings Ltd (ASX: PBH) share price is tumbling lower today amid weakness in the tech sector and in response to a broker note out of Goldman Sachs. The latter has seen the broker retain its buy rating but slash its price target by a further 32% to $6.74. Goldman made the move to reflect a de-rating of peer multiples and lower earnings estimates.

Woodside shares hit 52-week high

The Woodside Petroleum Limited (ASX: WPL) share price has continued its impressive run on Wednesday. This morning the energy producer’s shares hit a new 52-week high of $29.72. This means the company’s shares are now up 31% in 2022. This appears to have been driven by a jump in oil prices to seven-year highs overnight.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Wednesday has been the PolyNovo Ltd (ASX: PNV) share price with a 5.5% gain. This is despite there being no news out of the medical device company. Going the other way, the PointsBet share price is the worst performer with a 9% decline following Goldman’s broker note.

The post ASX 200 (ASX:XJO) midday update: Rio Tinto, South32 storm higher, PointsBet sinks appeared first on The Motley Fool Australia.

More reading

• Why is the PointsBet (ASX:PBH) share price sinking 13% today?
• This broker tips South32 (ASX:S32) as one of the best ASX 200 mining shares to buy
• Own Woodside (ASX:WPL) shares? Here’s the latest on the energy giant’s major court win
• 5 things to watch on the ASX 200 on Wednesday
• Here are the top 10 ASX shares today

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 POLYNOVO FPO and Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings 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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The PointsBet Holdings Ltd (ASX: PBH) share price is having another disappointing day.

In morning trade, the sports betting company’s shares are down 13% to $3.62.

This means the PointsBet share price is now down by almost 50% since the start of the year and 75% over the last 12 months.

Why is the PointsBet share price sinking today?

Today’s decline by the PointsBet share price appears to have been driven by a combination of weakness in the tech sector and the release of a broker note out of Goldman Sachs this morning.

In respect to the latter, Goldman has been one of PointsBet’s biggest supporters over the last couple of years.

For example, when the broker initiated coverage on PointsBet in March 2021, it put a buy rating and $17.50 price target on the company’s shares.

Unfortunately, since then, although the broker has continued to hold onto its buy rating, its price target has been moving lower and lower.

So much so, approximately two years after initiating coverage on PointsBet, this morning the broker retained its buy rating but slashed its price target by a further 32% to $6.74.

And while this price target continues to offer significant upside for investors, it appears as though the market is concerned that it will eventually be cut lower like previous targets.

Why has its price target been slashed?

Goldman explained that it made the move to reflect a de-rating of peer multiples and lower earnings estimates.

It commented: “Overall we have made some minor EBITDA changes across FY22-23E by -3/-2%, and larger 16% cuts in FY24 in account of further costs associated with planned state rollouts. Our MT to LT forecasts remain largely unchanged, premised on our house US$61 bn US TAM; however our 12-mo TP (SOTP based) falls to A$6.74 (from A$9.97 prior) driven by a MtM of peer multiples, consistent with our US Gaming revisions overnight.”

“Given the significant multiple compression of high growth names and the OSB sector, we now value PBH’s US business at maturity at 12.5x FY30 EV/EBITDA (discounted back at 10.4%, Cost of equity). Consistent with prior, we continue to apply a 5x discount to PBH’s US franchise vs. our US team’s revised DKNG 17.5x multiple,” Goldman added.

The post Why is the PointsBet (ASX:PBH) share price sinking 13% today? appeared first on The Motley Fool Australia.

More reading

• These were the worst performing ASX 200 shares in February
• These were the worst performing ASX 200 shares last week
• PointsBet (ASX:PBH) share price rising despite $131 million EBITDA loss
• Why Altium, PointsBet, Tyro, and Zip shares are sinking today
• Why is the PointsBet (ASX:PBH) share price crashing 11% today?

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 Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings 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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The AGL Energy Limited (ASX: AGL) share price has enjoyed a reversal in fortunes recently as it outperformed the market and its key rival.

The AGL share price added 2.3% over the past month and has gained around 18% since the start of 2022.

In contrast, the Origin Energy Ltd (ASX: ORG) share price slumped around 3.5% in the past month. That takes its gains since January to a modest 2.4%.

Even the S&P/ASX 200 Index (ASX: XJO) couldn’t keep pace with the AGL share price. It’s barely in the black in February and has dropped 6.5% this year.

Why the AGL share price is rebounding

The turnaround in AGL’s fortunes will be a welcome relief for shareholders who have seen its shares plunge over 20% in the past year.

The recent change in sentiment is largely thanks to a takeover offer by Atlassian Co-CEO Mike Cannon-Brookes and Brookfield Asset Management.

AGL has rejected the unsolicited offer, claiming it undervalues the whole business. But some believe the company is still in play as it attempts a messy demerger.

No credible transition plan out of coal

AGL’s ownership of fossil-fuel-burning power plants is one of the big reasons why the AGL share price has fallen out of favour.

There isn’t a clear plan on how the power plant and energy retailer can transition to a net-zero future.

Its plan to spin off the problematic coal-fired power assets into a new listed ASX entity isn’t much of a solution. Many current AGL shareholders who will get shares in “Dirty Co” through the spinoff don’t want to own dying assets.

AGL share price still a hostage to low carbon future

There is also no guarantee that AGL can pull off the demerger as some shareholders think it is “value destructive“.

Selling Dirty Co to a group with the resources and means to more quickly replace the coal power plants with renewables is a simpler solution for shareholders – if all parties can agree on a price.

How management navigates the transition will be a more important determiner of the longer-term performance of the AGL share price.

Origin vs AGL

Being stuck with assets is the key reason why the Origin share price has delivered superior returns over the past year or more.

Like AGL, Origin has a retail business. But unlike AGL, Origin owns LNG assets. While some might say LNG contributes to climate change, gas is still regarded as a better alternative to coal.

The post Why did AGL (ASX:AGL) shares smash Origin in February? appeared first on The Motley Fool Australia.

More reading

• Why is the Origin (ASX:ORG) share price edging lower today?
• Origin (ASX:ORG) share price lifts amid green hydrogen news
• Shareholder calls out AGL (ASX:AGL) planned demerger as ‘value destructive’
• These 5 ASX 200 shares are trading ex-dividend today
• Here’s why Mike Cannon-Brookes isn’t giving up on AGL (ASX:AGL)

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 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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It is an exciting day for the Core Lithium Ltd (ASX: CXO) share price after announcing an agreement with Tesla Inc (NASDAQ: TSLA).

Jumping out of the chutes, shares in the lithium-focused minerals explorer are trading 11% higher at 92 cents apiece. The move follows a bumpy past month for the Core Lithium share price, bouncing between 75 cents and 87 cents per share.

Supplying the world’s largest EV company

Investors are flocking to Core Lithium on the ASX today after revealing it has entered into an agreement with US-based electric vehicle manufacturer, Tesla.

According to the release, the two companies executed a legally binding term sheet for the supply of lithium spodumene concentrate. Additionally, the supply agreement is for 110,000 tonnes of concentrate across a four-year period.

In terms of pricing, the announcement notes that the ‘market price’ will be referenced. However, the term sheet also includes a price floor and ceiling.

Core Lithium will source this supply from its Finniss Lithium Project, which is located near Darwin Port. In September 2021, the company made its final investment decision on the project and has since commenced construction.

Subsequently, this term sheet will be subject to the execution of a definitive product purchase agreement by 27 August 2022. Currently, this additional agreement is for Core Lithium to kick off its supply to Tesla before 31 July 2023.

At this stage, the Aussie lithium producer is expecting production to be rolling in Q4 2022. An extension to the supply deadline can be made through mutual agreement if delays were to occur.

Managing director of Core Lithium, Stephen Biggins, commented on the milestone. He said:

Core Lithium is thrilled to have reached this agreement with Tesla and look forward to further growing this relationship in the years to come. Tesla is a world leader in electric vehicles and its investment in offtake and interest in our expansion plans for downstream processing are very encouraging.

What else is moving the Core Lithium share price?

Another facet of today’s announcement could be drumming up support for the Core Lithium share price. While it is also subject to a definitive agreement, Tesla has agreed to assist with the ASX-listed company’s potential stage 3 expansion.

In short, Core Lithium has longer-term plans to develop downstream lithium chemical processing within the Northern Territory.

Tesla would then incorporate Core’s lithium chemical product into its supply chain.

The post Giddy up: Core Lithium (ASX:CXO) share price races 11% higher on Tesla deal appeared first on The Motley Fool Australia.

More reading

• Why Tesla stock popped today
• Tesla, Coinbase help the Nasdaq hold its ground Monday
• Why Core Lithium, Dicker Data, GrainCorp, and InvoCare shares are rising
• Why Core Lithium, Humm, Magellan, and Smartgroup shares are storming higher
• ‘World-class’ deposits: Why the Core Lithium (ASX:CXO) share price is rocketing 8% today

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

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The Medical Developments International Ltd (ASX: MVP) share price has returned from its trading halt with a bang.

In morning trade, the medical device company’s shares are up a massive 32% to $4.50.

Why is the Medical Developments International share price shooting higher?

The Medical Developments International share price returned to trade this morning following the release of an announcement relating to its US aspirations for the Penthrox (aka the green whistle) product.

According to the release, the US Food and Drug Administration (FDA) has unconditionally lifted the agency’s clinical hold on Penthrox.

As a result, this means that Medical Developments International can immediately begin preparing for its Phase III US clinical trial.

The release explains that the trial will be conducted on a targeted trauma and associated pain patient group and is expected to run for two years. The company intends to commence recruitment for the trial in late 2022. This means a long-awaited US launch is now a possibility in the coming years.

Management commentary

Medical Developments International’s CEO, Brent MacGregor, was delighted with the news.

He said: “We are thrilled with this news which allows us to move forward quickly with preparations for our clinical trial. After years of hard work, our team is buoyed by the prospect of bringing the many benefits of Penthrox to the US market. This will strongly complement our growing Penthrox success in Europe, and fully supports our further investment in the product.”

This sentiment was echoed by the company’s Chair, Gordon Naylor.

He commented: “This news is important as it brings Penthrox a step closer to licensure in the US market and because the FDA is seen as a global regulatory leader. Our renewed focus on the core business continues to yield results.”

The post Why the Medical Developments International (ASX:MVP) share price is rocketing 32% higher appeared first on The Motley Fool Australia.

More reading

• Medical Developments International (ASX:MVP) share price on watch as losses widen

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 Medical Developments International Limited. The Motley Fool Australia has recommended Medical Developments International 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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A message from our CIO, Scott Phillips:“G’day Fools. If you’re like us, you’re dismayed by the events taking place in Ukraine. It is an unnecessary humanitarian tragedy. Times like these remind us that money is important, but other things are far more valuable. And yet the financial markets remain open, shares are trading, and our readers and members are looking to us for guidance. So we’ll do our best to continue to serve you, while also hoping for a swift and peaceful end to war in Ukraine.”

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The Bitcoin (CRYPTO: BTC) price has rallied hard over the past 36 hours.

The world’s first crypto is currently trading for US$44,063 (AU$60,851). That’s up more than 15% since trading for US$38,065 early morning Tuesday, according to data from CoinMarketCap.

Bitcoin price rally will surprise many

The Bitcoin price rally will come as a surprise to some crypto analysts. Many had written the token off as behaving similarly to risk assets in recent months.

Indeed, during Russia’s military build-up on the Ukrainian border and the early days of its invasion, the Bitcoin price rose and fell in line with share markets. Its correlation to tech shares was particularly strong.

But yesterday something different happened.

Most all of the major global indices sold off yesterday (overnight Aussie time), with the tech-heavy Nasdaq falling 1.6%.

But not Bitcoin.

Cryptos buck the risk-off trend

With the Bitcoin price rally, the token’s market cap currently stands at US$836 billion. 

As reported by The Australian, that means the digital asset has surpassed Russia’s rouble in terms of total value.  

Commenting on the big bounce back, eToro analyst Josh Gilbert said:

The political instability will once again highlight Bitcoin’s main goal of being a transparent, opensource, peer-to-peer network not controlled by a single administrator or central bank. This means that even if banks are closed and local currencies fall in value during times of instability, citizens will still have access to capital through crypto.

Walid Koudmani, an analyst at XTB Market, pointed to the impact of the Russian invasion on the Bitcoin price. 

Koudmani said (quoted by Bloomberg), “Bitcoin saw a significant upward move today as it appears to have slightly regained its safe haven status while the Russia-Ukraine conflict continues to intensify.”

Stéphane Ouellette, CEO of FRNT Financial also weighed in on the rebounding Bitcoin price. 

According to Ouellette:

[Bitcoin] has gold-like properties in that if you hold it, you directly control the assets as opposed to governments and banks being in between. In a period where banking is destabilised in a region, which is obviously happening in Europe right now, it would make sense to see some flows into BTC as people diversify away from the banking system.

The moves in Ukraine and Russia are unlikely to have a large impact on the Bitcoin price. However, Ouellette noted that crypto speculators “can get in front of such trends”. 

And this can see prices move higher. 

The post More valuable than the rouble: How the Ukraine crisis is now boosting the Bitcoin price appeared first on The Motley Fool Australia.

More reading

• Is Bitcoin or gold a better buy for these uncertain times?
• How might the Ukraine crisis impact the Ethereum price?
• Why these 2 cryptos are booming in 2022 as the Bitcoin price wallows
• Did Putin just hammer the Bitcoin price?
• Sanctions are a good thing? Why Bitcoin, Ethereum, and Dogecoin are recovering nicely today

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Bitcoin. The Motley Fool Australia owns and has recommended Bitcoin. 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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Last month was a good one for the Flight Centre Travel Group Ltd (ASX: FLT) share price.

It was also a good period for the travel sector that saw Australia’s borders opened for the first time since March 2020.

After ending January at $16.54, the Flight Centre share price gained 6.17% to close the final session of February $17.56.

For context, the S&P/ASX 200 Index (ASX: XJO) grew just 1.1% in that time.

Let’s take a look at what helped boost the travel stock last month.

Here’s what boosted the Flight Centre share price last month

Let’s take a trip down memory lane. In late January, Prime Minister Scott Morrison visited Cairns where he announced Australia’s borders would be open “well before Easter”.

It was the first glimmer of a timeline that could see the nation welcoming tourists back to its shores.

Of course, it wasn’t long before Morrison told Australia its international borders would reopen on 21 February.

The Flight Centre share price surged 7.8% on 7 February – the day the landmark announcement dropped. It gained another 6.7% the following day.

February also saw the travel agent’s stock partaking in less explainable gains.

On 16 February, the company’s share price took off, gaining 5.7% over a particularly good session for many ASX travel shares.

Though, it handed back much of its growth when the company released its earnings for the first half of financial year 2022.

The first six months of the financial year saw Flight Centre’s total transaction value soar 112.9% as its revenue surged 98.1%.

However, the company also reported a $188 million underlying loss after tax. Meanwhile, its underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) slumped to a loss of $184 million.  

The Flight Centre share price nose-dived 10.1% on the back of its first-half results.

Additionally, the company’s stock’s short-selling position surged at the end of February.

As The Motley Fool Australia’s James Mickleboro reported on Monday, Flight Centre has a short interest of 14.9%.

That means more and more market participants are now betting against the stock’s future performance.

The post The Flight Centre (ASX:FLT) share price managed to gain some altitude in February. Here’s how appeared first on The Motley Fool Australia.

More reading

• Why is the Webjet (ASX:WEB) share price having such a lousy start to the week?
• These are the 10 most shorted ASX shares
• How might the Ukraine crisis impact the Flight Centre (ASX:FLT) share price?
• 5 things to watch on the ASX 200 on Friday
• ASX wipes out $73 billion as Russia invades Ukraine

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel 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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