The Woodside Petroleum Limited (ASX: WPL) share price is in the green this afternoon even as the S&P/ASX 200 Index (ASX: XJO) is dipping lower.

At time of writing, Woodside shares are up 1.03%, trading at $21.56, while the ASX 200 is down 0.07%.

Why Woodside shares are in the spotlight

Woodside shares have been in the spotlight in recent weeks as the energy giant fights off a last-ditch legal challenge to its $16.5 billion Western Australian Pluto LNG project.

The company forecasts the massive project will provide some 30 years of LNG exports. It expects to complete the development in 2026. Provided, of course, the legal challenge isn’t upheld by the Supreme Court of Western Australia.

Although Woodside has already received the official go-ahead from Western Australian regulators, the Conservation Council of Western Australia (CCW) announced last week it would challenge the works approval for the Pluto Train 2 project.

CCW, represented by the Environmental Defenders Office, believes WA authorities erred in granting permission for the development. Among other things, they say the lifetime greenhouse gas emission – and the impact on national treasures like the Great Barrier Reef – were not properly taken into account.

Why this expert is eyeing LNG demand in Asia

New fossil fuel developments are facing an uphill battle across Australia and much of the developed world.

With nations pledging to reduce their emissions, environmental groups are hoping that if the Pluto 2 Train project does go ahead, it will be the last major project Down Under to do so in Australia. A development that would likely pose significant headwinds for Woodside shares.

However, Curtin University energy economist Roberto F Aguilera, isn’t so sure.

According to Aguilera (quoted by ABC News):

The development of this very large project will secure their ability to provide LNG for decades to come… These are very capital intensive projects so they’re not overly influenced by current events.

[The] long-term strategy will be asking, ‘Will there be long-term demand for LNG, particularly in Asia?’

So can Woodside shareholders expect the company to ditch its LNG plans?

“It’s probably wishful thinking to get out of natural gas because they’ve invested so many billions in this very capital-intensive, long-life infrastructure,” Aguilera said.

More likely, we’ll see Woodside continue to work to reduce the carbon footprint of its LNG operations to address some of the concerns against its current and future developments.

According to Aguilera:

The company will have to make the case that gas and LNG is compatible with a low-carbon future. By using renewables like solar to power the gas developments, like the liquefaction, for example, which is energy intensive … all of this will help them to obtain that social licence to be able to proceed with future gas or LNG projects…

He added:

Maybe two to three years ago gas became deeply unpopular. But longer term, I think it will be realised that achieving climate goals is very, very difficult in the absence of using gas as a transition fuel.

How have Woodside shares been performing?

Woodside shares have slipped 7% so far in 2021, while the ASX 200 is up 8% in that same time.

Over the past month, the Woodside share price is down that same 7%.

The post Own Woodside (ASX:WPL) shares? Why this expert is watching LNG demand in Asia appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Monday
• Analysts say these are the ASX resources shares to buy now for big returns
• 5 things to watch on the ASX 200 on Friday
• 2 more of Morgans’ best ASX share ideas for December
• 5 things to watch on the ASX 200 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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Short interest in Flight Centre Travel Group Ltd (ASX: FLT) shares is at a near all-time high. But what does that mean for the company’s investors?

At the time of writing, the Flight Centre share price is $17.29, 0.23% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently up 0.14%.

What does Flight Centre shares’ short interest matter?

According to the most recent data, Flight Centre is still the most shorted share on the ASX.

As of 30 November, 13.49% of the company’s shares are in the hands of short-sellers. That’s compared to the 4.58% that were shorted as of 29 November 2019.

So, what does Flight Centre’s short interest mean for the company’s future? Well, it means some investors expect the stock to tumble in the near-to-medium term.

To simplify short-selling, it’s when someone – dubbed a ‘short-seller’ – borrows shares before immediately selling them.

They then hope the company’s share price goes down so they can buy back the borrowed shares at a lower price and return them to the lender.

If successful, a short-seller will return the shares and take the amount the share price fell as profit.

The percentage of short-seller interest represents how much of a company’s stock is currently being used by short-sellers to do just that.

Thus, the level of short-selling activity in Flight Centre shares means confidence in the company’s share price is low in some circles. This might be a bad sign for long-term investors.

One fundie broke down why they think Flight Centre is a good short pick at Friday’s Sohn Hearts & Minds Conference.

One reason cited was the issuance of $800 million worth of notes as part of an emergency capital raise as COVID-19 rampaged the company.

Another was Flight Centre’s general business model, which the fundie stated might struggle to turn a profit in the future.

If the fundie’s concerns prove valid, it could be dire for the Flight Centre share price.

However, if the travel agency’s share price turns upwards, it will spell bad news for short-sellers, who will be forced to pay back the amount the share price gains.

The post Flight Centre (ASX:FLT) shares have a 13% short interest. What does this mean? appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
• Why has the Webjet (ASX:WEB) share price had such a lousy start to December?
• Winning shares for 2022: the companies experts are backing revealed at Sohn
• Flight Centre (ASX:FLT) share price falls again amid Sohn short pick
• Is the Qantas (ASX:QAN) share price at risk of a capital raise?

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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The Telstra Corporation Ltd (ASX: TLS) share price has not had a great start to this last month of 2021. Since the start of December, Telstra shares have fallen from $4.06 each to the current share price of $4.02 today (flat so far from Friday’s close).

To be fair, the S&P/ASX 200 Index (ASX: XJO) hasn’t had a great time of it over December thus far either. The ASX 200 has fallen around 0.9% over the same period. But, Telstra is still lagging the broader market. So what’s going on with this ASX 200 telco lately?

Well, unfortunately for those of you who like definitive answers, there’s not one to give. There has been no major official news out of Telstra for weeks.

Telstra share price has a Santa sag

But Telstra has been the beneficiary of more positive developments lately than negative ones too. The company’s ongoing share buyback program continues to take Telstra shares off the market (benefitting existing shareholders). Just today, Telstra released a disclosure informing investors that it purchased 6.86 million of its own shares last Friday for retirement.

Further, my Fool colleague James covered a recent and optimistic broker recommendation for Telstra. Goldman Sachs now rate Telstra shares with a 12-month share price target of $4.40 – implying a potential future upside of almost 9.5% on today’s pricing.

Goldman also sees Telstra shares paying out an annual dividend of 19 cents per share by FY2025, up from FY2021’s 16 cents per share in total dividends.

So it’s unclear what has dented investors’ confidence in Telstra shares over December thus far. Perhaps the telco has just been caught up in the market gyrations we have seen in recent weeks. Or perhaps, since the Telstra share price is still up 33.55% year to date in 2021 so far, investors are giving it a breather.

Whatever the reason for the most recent malaise, Telstra shares are still pretty close to their 52-week high of $4.09 a share even at today’s pricing.

At the current Telstra share price, the ASX 200 telco has a market capitalisation of $47.54 billion, with a price-to-earnings (P/E) ratio of 25.74 and a dividend yield of 3.99%. 

The post Why has the Telstra (ASX:TLS) share price had such a lacklustre start to December? appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are topping the volume charts on Monday
• Hold the phone! Why Telstra (ASX:TLS) could be a dividend share to buy
• These 3 ASX 200 shares are topping the volume charts this Friday
• The Telstra (ASX:TLS) share price keeps rising. What happened in November?
• These 3 ASX 200 shares are topping the volume charts on Thursday

Motley Fool contributor Sebastian Bowen owns shares of Telstra Corporation 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 owns shares of and has recommended Telstra Corporation 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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The Venture Minerals Limited (ASX: VMS) share price is soaring today, up almost 10% at the time of writing. This follows a positive update from the explorer on its joint venture with Chalice Mining Ltd (ASX: CHN).  

The Venture Minerals Share price is currently swapping hands at 4.5 cents apiece, up 9.76%. Let’s take a look at the latest exploration announcement from Venture.

What did Venture announce today?

In today’s release, Venture advised that its joint venture partner Chalice Mining has spent $300,000 on the South West Nickel-Copper-Platinum Group Elements Project in Western Australia.

This marks the completion of the first stage of the joint venture between the two companies.

Under the terms of the agreement, Chalice can earn up to 70% if it spends $3.7 million exploring the targets over a 4-year period. The project is located 240km south of Perth in the Balingup Metamorphic Belt.

Venture stated that said most of the exploration was at its 20km long Thor target, a “Julimar lookalike magnetic anomaly interpreted to be mafic-ultramafic intrusive complex”.

What did management say?

Venture managing director Andrew Radonjic said with the completion of the detailed EM survey, the company was eagerly awaiting the survey results:

The knowledge gained from Chalice’s Julimar discoveries will be a huge advantage in determining which conductors should be drilled first and this no doubt increases the probability of bringing a discovery forward.

This is the main reason why Venture decided to partner with Chalice on this project as it clearly increases the chances of success which benefits all of the company’s shareholders.

Venture share price snap shot

The Venture share price is up 12.82% over the past 12 months, although Venture shares have dropped 10% since January this year. Shares in the mineral exploration company reached a high of 15.5 cents on 15 June.

At today’s share price, Venture has a market capitalisation of roughly $63.8 million.

The post The Venture Minerals (ASX:VMS) share price is venturing 10% higher today appeared first on The Motley Fool Australia.

More reading

• Why API, Chalice Mining, GUD, and Worley shares are charging higher
• Here’s why the Chalice Mining (ASX:CHN) share price is glowing today
• These were the 5 best performing ASX shares in November
• Why Chalice Mining, CBA, Nufarm, and SEEK shares are sinking
• Here are the top 10 ASX shares today

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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 S&P/ASX 200 Index (ASX: XJO) is yet again kicking off the trading week on the wrong side of the bed this Monday. At the time of writing, the ASX 200 is down 0.15% at 7,230 points.

But rather than letting that get us down, let’s instead check out the ASX 200 shares currently topping the ASX trading volume charts, according to investing.com.

3 most active ASX 200 shares by volume this Monday

Pilbara Minerals Ltd (ASX: PLS)

Our first share topping the trading volume charts so far today is the ASX 200 lithium producer Pilbara Minerals. Pilbara has seen a sizeable 15.06 million of its shares swap hands thus far today. There have been no major news or announcements out of Pilbara this Monday.

However, the Pilbara share price itself hasn’t taken well to the market’s falls today. Pilbara shares are currently down a nasty 5.3% at $2.32 at the time of writing. This steep drop is the likely culprit behind this elevated trading volume.

Telstra Corporation Ltd (ASX: TLS)

Telstra is our next share to take a gander at today. This ASX 200 telco giant has had a hefty 16.7 million of its shares swap hands on the markets so far. Again, there is not much in the way of official news or announcements out of Telstra.

Additionally, Telstra shares are currently flat at $4.02 a share today after dipping to $3.99 earlier this morning. It’s likely that the combination of Telstra’s ongoing share buyback program, in addition to the share price dips this morning, are what’s behind this elevated trading volume.

Challenger Ltd (ASX: CGF)

ASX 200 annuities provider Challenger is our final and most traded ASX share this Monday. As it stands thus far, an impressive 21.5 million challenger shares have found new owners on the markets. This could be a consequence of the ASX announcement Challenger put out to investors this morning. This informed the markets that Apollo Global Management has received Australian Prudential Regulation Authority (APRA) approval to acquire the remaining 3% of Challenger that it was entitled to as part of an earlier agreement. 

Apollo now owns a full 15% stake in the company. The Challenger share price initially spiked on market open this morning, going as high as $6.68 a share. However, subsequently, sentiment has cooled off, and Challenger shares are now flat at $6.51. It’s this combination that has probably resulted in this company topping the volume charts so far this Monday.

The post These 3 ASX 200 shares are topping the volume charts on Monday appeared first on The Motley Fool Australia.

More reading

• What do Wesfarmers (ASX:WES) and Amazon.com have in common?
• Why ANZ Bank (ASX:ANZ) is losing market share to other big ASX banks
• ASX 200 (ASX:XJO) midday update: Metcash jumps, Kogan and Zip sink
• Boral (ASX:BLD) share price jumps on $1bn fly ash sale
• 5 things to watch on the ASX 200 on Monday

Motley Fool contributor Sebastian Bowen owns shares of Telstra Corporation 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 owns shares of and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended Challenger 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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The Santos Ltd (ASX: STO) share price is on the rise during Monday afternoon trade. This comes after its peer Oil Search Ltd (ASX: OSH) provided an update on the planned merger for both companies.

At the time of writing, the energy producer’s shares are up 1.34% to $6.45 apiece.

What’s driving Santos shares higher?

Investors are pushing Santos shares upwards despite the broader S&P/ASX 200 Index (ASX: XJO) sell-off today.

Earlier this morning, Santos released Oil Search’s announcement to the ASX, highlighting progress with the merger.

Oil Search declared that the Papua New Guinea Securities Commission has given its approval for both companies to amalgamate.

Although positive, this is just one of many conditions required for the merger to proceed.

Other clauses within the merger implementation deed relate to clearance from the Independent Consumer and Competition Commission of Papua New Guinea, as well as approval by Oil Search shareholders at the scheme meeting to be held tomorrow.

If all goes according to plan, Oil Search shareholders will receive 0.6275 new Santos shares for each Oil Search share held. This would give Oil Search shareholders a 38.5% stake in the newly merged entity. Santos shareholders would retain the remaining 61.5% interest.

The group is aiming to become the ASX’s largest oil and gas company and a top 20 global player. This would give the super-company a diversified portfolio of long-life and low-cost assets with significant growth options.

Another reason Santos shares are moving higher is the rising price of the West Texas Intermediate (WTI). From 1 December, the WTI has surged from trading around US$65.57 per barrel to now US$67.84 per barrel. This represents an increase of about 3.4% over the past few days.

What do the brokers think?

A number of brokers have weighed in on the Santos share price last month following its merger update.

Swiss investment firm UBS raised its price target by 12% to $9.60 for Santos shares, while JP Morgan cut its outlook. The multinational bank reduced its rating by 1.3% to $7.90 per share.

In regard to both brokers’ assessments on the current Santos share price, this implies an upside of around 49% and 23%, respectively.

About the Santos share price

It’s been a disappointing 12 months for Santos shares, moving in circles to register almost flat for the period. It’s worth noting that the company’s share price is nearing its 52-week low of $5.84 seen in mid-August.

Based on today’s price, Santos commands a market capitalisation of roughly $13.4 billion, and has approximately 2.08 billion shares outstanding.

The post Why is the Santos (ASX:STO) share price climbing today? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Monday
• 5 things to watch on the ASX 200 on Friday
• These 3 ASX 200 shares are topping the volume charts this Wednesday
• Own Santos (ASX:STO) shares? Here’s why the company could be in for some good news this week
• ASX 200 (ASX:XJO) midday update: Omicron hits Flight Centre, Domino’s jumps

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 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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Shares in Pure Hydrogen Corporation Ltd (ASX: PH2) are losing ground in afternoon trade today and are now almost 9% down at 40.5 cents apiece.

The plunge comes even as there is no market-sensitive information from the company. Although Pure Hydrogen did provide an update on its Botswana Serowe gas project. Read on for more.

What did Pure Hydrogen announce?

Pure Hydrogen advised that it encountered significantly more coal than pre-drill estimates at its gas project in Botswana.

Specifically, its Serowe 4 well encountered 31 metres of interpreted gassy coal seams, a result more than 150% thicker than predrilled estimates.

Further, its Serowe 5 well is spudded and is proceeding ahead with the depth of the well at 350 metres. It says the well will be drilled to total depth, which is estimated at 470 metres, after which logs will be run for the well.  

As a result of the thicker coals encountered at Serowe 4, the cost of “proving a multi Trillion Cubic Feet coal seam gas field in central southern Africa can be substantially reduced”.

The release notes that the Botswana Serowe Gas Project has received third-party certified 2C resources of 160.6 billion cubic feet and Prospective Resources of 10.07 trillion cubic feet.

As previously stated by the company in November, the estimates of Contingent Resources for the project were “prepared in accordance with the 2018 Petroleum Resources Management System (PRMS)”.

The “Contingent Resources” will be revised again in 2022 after the results of Serowe 4 and 5, per the announcement.

Pure Hydrogen also advised it is progressing its joint venture with Botala within Southern Africa and has “identified potential offtake parties and sites that could be used for a Hydrogen Business”.  

Investors can expect further details of these initiatives in the coming weeks, according to the announcement.

Speaking on the release today, Pure Hydrogen Managing Director Scott Brown mentioned:

The Serowe Gas Project is shaping up well with the continuation of excellent results to date from the multi-well appraisal program, particularly the much thicker gassy coal seams in Serowe 3 and now Serowe 4.

Pure Hyrdrogen share price snapshot

Despite today’s dip, the Pure Hydrogen share price has gained more than 406% in the past 12 months after rallying another 360% this year to date.

Yet, in the past month, it has fallen 21% in the red and is also down more than 13% in the last week of trading.

The post Pure Hydrogen (ASX:PH2) share price plunges 9% despite ‘excellent results’ appeared first on The Motley Fool Australia.

More reading

• Why are ASX hydrogen shares tumbling today?
• Pure Hydrogen (ASX:PH2) share price rebounds 5% on project upgrade
• Why did the Pure Hydrogen (ASX:PH2) share price sink 9% today?
• Pure Hydrogen (ASX:PH2) share price leaps 9% as first plant set to be operational next year
• Pure Hydrogen (ASX:PH2) share price rockets 25% amid major plant production news

The author has no positions 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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Retail conglomerate Wesfarmers Ltd (ASX: WES) is looking to channel some of Amazon.com, Inc. (NASDAQ: AMZN) magic to save its struggling department stores.

The ASX retail group selected Amazon to provide cloud-services to boost online sales of its embattled Target outlets, reported the Australian Financial Review.

Who better to provide such expertise than the world’s largest online retailer that have made it an artform to target and track online consumers?

Wesfarmers’ Amazonian task

Wesfarmers picked Amazon Web Services (AWS) over Microsoft Corporation’s (NASDAQ: MSFT) Azure, which is used by Woolworths Group Ltd (ASX: WOW).

The hope is that Amazon will be able to turnaround Wesfarmers’ Target department store. The chain is the Achilles’ heel in the business and the business has dragged on Wesfarmers’ financial performance for some years – even before COVID-19.

But the pandemic made a bad problem worse. Consumers were forced online to shop due to rolling lockdowns, and it’s retailers with the stronger web presence, like Temple & Webster Group Ltd (ASX: TPW) and Shaver Shop Group Ltd (ASX: SSG) that have benefitted.

Wesfarmers needing some Amazon retail magic

While Wesfarmers’ other retail brands like Bunnings and Officeworks aren’t exactly pre-pandemic online leaders either, they were at least allowed to operate during COVID restrictions as essential services.

Target’s general manager Samantha McIntyre noted that its systems weren’t up to the task before AWS, according to the AFR.

But now, Target’s website can manage surge in traffic during sales events and can provide more timely inventory checks for shoppers.

“We’ve got really big aspirations in the online space and really want to grow that, and we’re really super excited with how Black Friday went,” the AFR quoted McIntyre as saying.

“Sales of apparel, particularly kids wear was very strong, and now we are in our busiest period leading up to Christmas.”

Wesfarmers share price holding its ground

Target will need all the help it can get as it struggles to stand out in a highly competitive retail environment.

Wesfarmers owns some of the most well-known retail brands in the country. But it’s been slow to adopt the online shopping revolution despite buying Catch.com.au.

At least the conglomerate is moving quickly to close the digital divide. Shareholders will also be relieved that the Wesfarmers share price is holding up well with gains of around 17% in 2021.

That’s about in-line with the S&P/ASX 200 Index’s (Index:^AXJO). It’s also much better than the JB Hi-Fi Limited (ASX: JBH) share price, which is down around 3% for the year.

The post What do Wesfarmers (ASX:WES) and Amazon.com have in common? appeared first on The Motley Fool Australia.

More reading

• Why ANZ Bank (ASX:ANZ) is losing market share to other big ASX banks
• ASX 200 (ASX:XJO) midday update: Metcash jumps, Kogan and Zip sink
• Boral (ASX:BLD) share price jumps on $1bn fly ash sale
• 5 things to watch on the ASX 200 on Monday
• Could this be a fly in the ointment for Woolworths’ (ASX:WOW) push into healthcare?

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. 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. owns shares of and has recommended Microsoft and Temple & Webster Group Ltd. The Motley Fool Australia owns shares of and has recommended Wesfarmers Limited. The Motley Fool Australia has recommended Amazon and Temple & Webster Group 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has bounced back from its intraday lows and is trading just a fraction lower. At the time of writing, the benchmark index is down slightly to 7,238.2 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are pushing higher:

Boral Limited (ASX: BLD)

The Boral share price is up 2.5% to $6.32. This follows news that the building products company has signed an agreement to sell its US fly ash business for US$755 million (~A$1 billion). The good news is that some, or even all, of these funds are likely to be returned to shareholders.

Metcash Limited (ASX: MTS)

The Metcash share price is up 6% to $4.19. Investors have been buying this wholesale distributor’s shares following the release of a strong half year result. For the six months ended 31 October, Metcash reported a 1.3% increase in revenue to $7.2 billion and underlying profit after tax growth of 13.1% to $146.6 million. Metcash also revealed that the second half has started strongly.

Silver Lake Resources Limited (ASX: SLR)

The Silver Lake share price is up over 5% to $1.62. Investors have been buying this gold miner’s shares amid a rise in the gold price on Friday night. This was driven by increased demand for safe haven assets following a selloff in the tech sector. It isn’t just Silver Lake rising, the S&P/ASX All Ordinaries Gold index is up 2% at the time of writing.

Strike Energy Ltd (ASX: STX)

The Strike Energy share price has jumped 13% to 17 cents. This morning the energy company revealed that the Walyering-5 (W5) well has confirmed the presence of a high-quality, low CO2, conventional gas accumulation at the suspended Walyering gas field within the Perth Basin. These results have exceeded the company’s expectations.

The post Why Boral, Metcash, Silver Lake, and Strike Energy shares are pushing higher appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Metcash jumps, Kogan and Zip sink
• Here’s why the Strike Energy (ASX:STX) share price surged 18% today
• Metcash (ASX:MTS) share price jumps 7% on strong half year results
• Boral (ASX:BLD) share price jumps on $1bn fly ash sale
• 5 things to watch on the ASX 200 on Monday

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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Online interactions had become a common occurrence for many people even before the shift created by COVID-19. Though, our online experiences could be set to evolve from 2D videos into 3D immersive digital environments with the rise of the metaverse.

Investors might be wondering what the metaverse is, what companies are involved with it, and what its significance is. While some might be aware of Facebook’s name change to Meta Platforms Inc (NASDAQ: MVRS), the extent of the emerging industry goes beyond the bounds of the United States stock market.

So, let’s dive deeper into the metaverse.

What are metaverse stocks?

The metaverse is essentially the next step in the evolution of the internet. In reality, the concept isn’t exactly a new one. An online digital world where people interact with each other via virtual and/or augmented reality has been featured in pop culture. Prime examples of this include the movies Ready Player One, Tron, and The Matrix.

Over time, technology has progressed to the point where personal computers now have the processing power to render interactive 3D virtual environments. Combine this with the advances in virtual reality hardware, such as the Oculus Quest 2 (owned by Meta), and the possibility of working, socialising, and playing in a digital world is becoming possible.

In turn, the companies that are involved in making this possible are being dubbed ‘metaverse stocks’. As we mentioned before, Meta (previously Facebook) is a well-known example of this. However, there are a few ASX-listed companies that might fit into the metaverse stock category.

The first Aussie example of a company with metaverse exposure is game developer Playside Studios Ltd (ASX: PLY). Interestingly, in its November capital raising, the company said part of the proceeds would be going towards establishing a dedicated R&D team to blockchain gaming linked to the metaverse.

Another ASX-listed company with ties to the digital environment is the geospatial tech company Aerometrex Ltd (ASX: AMX). In October, the small-cap company announced that its 3D model of San Francisco would be used to create a metaverse. Specifically, Terrestrial Software Development purchased the model for $250,000 to develop its ‘Lunaverse’.

What’s behind the buzz?

The excitement surrounding the metaverse is palpable. This may not be surprising if it is set to be the next iteration of the internet. After all, some of the largest companies in the world have been built on the emergence of the internet. For example, Apple Inc (NASDAQ: AAPL), Microsoft Inc (NASDAQ: MSFT), and Alphabet Inc (NASDAQ: GOOGL).

Research published by Bloomberg last week indicated the metaverse could be an $800 billion market in 2024. Notably, the analysts believe game makers will expand their platforms to incorporate live events and social media. This sizeable opportunity means investors are salivating at the potential upside that metaverse stocks might offer.

The post What are Metaverse stocks and why is everyone talking about them? 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. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Mitchell Lawler owns shares of Apple and Meta Platforms, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Alphabet (A shares), Meta Platforms, Inc., and Microsoft. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Apple, 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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