The Tuas Ltd (ASX: TUA) share price has had another rocket of a day on the ASX so far this Wednesday.

Tuas shares ended today’s trading at $1.98 a share, up an extraordinary 14.45%. Put that together with the 5.5% the company added on Monday, and the 8.5% gain we saw yesterday, and Tuas shares are now up an incredible 28.45% just this week so far.

So why are Tuas shares giving investors such a blazing run of success?

Tuas shares rise on new spectrum

Well, these gains can likely be put down to the announcement this old flame of TPG Telecom Ltd (ASX: TPG) made on Monday morning.

As we reported at the time, Tuas announced on Monday that its Singaporean subsidiary TPG Singapore, was successful in a bid for 2.1 GHz spectrum that was recently conducted by Singaporean authorities. TPG Singapore was provisionally awarded 10 MHz of spectrum in the 2.1 GHz band. It will pay $31.72 million for this spectrum, which was awarded with a 15-year license. With this deal, TPG Singapore will now use this spectrum to roll out its standalone 5G network in the country.

This was the news that so excited investors on Monday, and continues to today. That’s going off of the moves we have seen in the Tuas share price.

But we could also be seeing the impacts of some recent bullish commentary for Tuas shares as well. As my Fool colleague Brendon reported last week, Tobias Yao, portfolio manager over at Wilson Asset Management, was recently and publically very bullish on Tuas shares. We quoted him as stating the following on the company:

It’s a buy for us. David Teoh is one of the most astute and successful businessmen around, having founded TPG Telecom… The reason we like TPG Singapore is the fact that we think the value offering is very, very attractive.

At the current Tuas share price, this company has a market capitalisation of $922.7 million. Tuas shares are now up more than 170% year to date in 2021 so far.

The post Tuas (ASX:TUA) share price surges again, up almost 30% this week. Here’s why appeared first on The Motley Fool Australia.

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• Why Bellevue Gold, South32, Starpharma, and Tuas shares are pushing higher
• Tuas (ASX:TUA) share price jumps 5% on acquisition news
• Experts say Tuas (ASX:TUA) share price is a buy even after its 50% surge
• 2 unfashionable ASX shares for rough times: expert
• Is the TPG (ASX:TPG) share price an opportunity calling?

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 recommended TPG Telecom 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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Today, the S&P/ASX 200 Index (ASX: XJO) failed to back up yesterday’s gain as uncertainty around the Omicron variant persists. At the end of the session, the benchmark index finished 0.28% lower to 7,235.9 points.

Nearly three-quarters of the Aussie benchmark index finished in the red today. Comments from the United States Federal Reserve chair, Jerome Powell, suggested the central bank might look to quickly scale back its monetary intervention with high inflation pressures visible.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, South32 Ltd (ASX: S32) was the biggest gainer today. Shares in the mining company climbed 3.97% today. The upwards move followed analysts at Macquarie lifting their share price target to $5.00 per share. Find out more about South32 here.

The next biggest gaining ASX share today was Coronado Global Resources Inc (ASX: CRN). The metallurgical coal producer’s shares gained 3.18% despite there being no announcements from the company today. Uncover the latest Coronado Global Resources details here.

Today’s top 10 biggest gains were made in these ASX shares:

ASX-listed company	Share price	Price change
South32 Ltd (ASX: S32)	$3.67	3.97%
Coronado Global Resources Inc (ASX: CRN)	$1.135	3.18%
Waypoint REIT (ASX: WPR)	$2.65	3.11%
Lynas Rare Earths Ltd (ASX: LYC)	$9.11	2.71%
Xero Limited (ASX: XRO)	$148.74	2.69%
Rio Tinto Ltd (ASX: RIO)	$95.76	2.42%
OZ Minerals Ltd (ASX: OZL)	$26.58	2.27%
Iluka Resources Ltd (ASX: ILU)	$8.80	2.09%
Iress Ltd (ASX: IRE)	$12.63	1.94%
Mercury NZ Ltd (ASX: MCY)	$5.94	1.71%

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

More reading

• Why did the Woolworths (ASX:WOW) share price tumble today?
• ASX shares to buy for the Omicron COVID outbreak
• Why is the Rio Tinto (ASX:RIO) share price having such a great day?
• These 3 ASX 200 shares are topping the volume charts this Wednesday
• Top brokers name 3 ASX shares to buy today

Motley Fool contributor Mitchell Lawler owns shares of Lynas Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Xero. The Motley Fool Australia owns shares of and has recommended Xero. 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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As you may have noticed by now, the S&P/ASX 200 Index (ASX: XJO) has not had a great day of trading on the markets this Wednesday. At the close of trading, the ASX 200 was down by 0.28% at 7,235.9 points. But one ASX 200 blue chip is making those losses look desirable. That would be the Woolworths Group Ltd (ASX: WOW) share price.

Today has certainly not been a day where Woolworths shares have WOWed… investors. This supermarket and groceries giant was down by 2.4% at $39.84 a share at the close of trade today. Needless to say, that’s a meaningful underperformance of the broader market.

So what’s up with Woolies this Wednesday?

Woolworths share price has a woeful Wednesday

Well, unfortunately, it’s not clear. There have been no major news or announcements out of the company itself. Nor have there been any major director transactions or ex-dividend events.

However, there was a noticeable trend on the ASX boards today that Woolworths shares may have been caught up in.

Looking at the ASX’s paltry performance this Wednesday, and we can see that the consumer staples sector was, by a mile, the worst-performing sector on the markets. The consumer staples sector typically includes retailers that primarily sell life essentials like food, household goods and drinks. That obviously includes a supermarket like Woolies.

But that means the Woolworths share price probably did not suffer in solitude today. And looking at this company’s peers in the consumer staples sector, we find it to be true.

Woolworths’ arch-rival Coles Group Ltd (ASX: COL) was also down heavily, losing 1.55% at $17.74 a share. Likewise, IGA-owner Metcash fell 1.72% at $4 a share. Treasury Wine Estates Ltd (ASX: TWE) dropped 2.56%, while Woolworths’ old flame Endeavour Group Ltd (ASX: EDV) was down by 1.6%.

So it seems Woolworths shares have been caught up in a sector-wide selloff, with seemingly nothing specific with the company itself going on.

It’s worth highlighting in a final note that Woolworths is still up around 2.9% over the past month, and 17.5% year to date in 2021 so far, so this could also be a possible routine pullback for this ASX stalwart.

At the current Woolworths share price, this ASX 200 blue chip share has a market capitalisation of $48.29 billion, with a dividend yield of 2.71%.

The post Why did the Woolworths (ASX:WOW) share price tumble today? appeared first on The Motley Fool Australia.

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• ASX shares to buy for the Omicron COVID outbreak
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• ASX 200 (ASX:XJO) midday update: ANZ hit with class action, GUD sinks
• The Starpharma (ASX: SPL) share price surges on Vietnam launch

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 owns shares of and has recommended COLESGROUP DEF SET. The Motley Fool Australia has recommended Treasury Wine Estates 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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Nuix Ltd (ASX: NXL) is about to celebrate the completion of its first year as a listed company, but its share price is dampening the festivities.

The company’s stock hit a record low in intraday trade today, swapping hands for just $2.14 apiece.

At market close, it has slightly recovered to trade at $2.16, 4.42% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) finished Wednesday down 0.28%.

Let’s take a look at what might be weighing on the software company.

Nuix share price tumbles on Wednesday

The Nuix share price fell to its lowest point ever today, the day after it dropped 11.7% on the back of a trading update.

As The Motley Fool reported yesterday, Nuix announced its statutory revenue had increased 10% over the first 4 months of financial year 2022, but its new customer revenue dropped 40%.

Its annual contract value has remained flat year on year, while its earnings before interest, tax, depreciation, and amortisation (EBITDA) has fallen 27%.

To top it off, the company’s expenses have increased. They’ve been driven higher by product development and the enhancement and growth of its sales distribution capability, as well as a tough labour market and increased legal costs.

Saturday will mark the end of Nuix’s first 12 months on the ASX, and what a time it’s been.

Nuix’s turbulent first year on the ASX

Upon listing, Nuix was heralded the ASX’s newest market darling.

The Nuix share price finished its first day on the ASX trading at $8.01. It has since plunged 72.9%.

Its first major slump came after it downgraded its guidance in April, then again in May.

It faced a huge amount of media scrutiny when a series of investigative reports were published. They claimed the company was poorly managed and had a history of questionable reporting.

The media campaign also seemingly unearthed a strange options package given to the company’s founder. It has since been the subject of an Australian Federal Police investigation.

Additionally, an investigation into Nuix was launched by the Australian Securities and Investments Commission (ASIC). The watchdog was seeking to find if the company’s prospectus inflated its forecasts.

The company also announced its CEO and CFO were both stepping down in June. Its new CEO, Jonathan Rubinsztein will take up the reins next week, while its new CFO, Chad Barton is already at work, having stepped in as interim CFO.

Finally, the company was recently hit with a shareholder class action and is expecting to be served with a second shortly.

The post Why did the Nuix (ASX:NXL) share price hit an all-time low today? appeared first on The Motley Fool Australia.

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• Nuix (ASX:NXL)’s own shareholders are suing it

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Nuix Pty Ltd. 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 Woodside Petroleum Limited (ASX: WPL) share price has clawed back from earlier losses today to finish Wednesday’s trading session up 0.33%.

Shareholders of the S&P/ASX 200 Index (ASX: XJO) energy giant will have been closely following the company’s progress on commencing its $16.5 billion Western Australian Pluto LNG project.

The project, projected to provide 30 years of LNG exports once it’s finished in 2026, has received the green light from Western Australian regulators, but is facing a last minute legal challenge.

What’s the basis for the Pluto legal action?

As The Motley Fool reported on 19 November, Woodside says its development plans have been reviewed by the WA Environmental Protection Authority, the Australian Department of Agriculture, Water and the Environment, and the National Offshore Petroleum Safety and Environmental Management Authority.

But an environmental group doesn’t believe regulators took into account the lifetime greenhouse gas emissions the project may release.

Woodside now has received official notice that the Conservation Council of Western Australia will challenge the works approval for the Pluto Train 2 project in the Supreme Court of Western Australia.

The Environmental Defenders Office, representing the Conservation Council of Western Australia, tweeted:

Our client will argue that a key approval for expansion of Woodside’s Pluto LNG facility – a major component of the Scarborough gas proposal – was unlawful, as it failed to properly consider and control the environmental harm generated by the development’s GHG emissions…

Governments and regulators should be doing everything in their power to properly assess and control any additional emissions to mitigate the risk of climate related extreme weather events to the Australian people.

In a release, Woodside reiterated that it has complied with the state’s “regulatory requirements and environmental processes in seeking and receiving its approvals“, adding that it “will vigorously defend its position”.

Woodside share price snapshot

The Woodside share price is down 5% in 2021. By comparison the ASX 200 is up 10% year-to-date.

Over the past month, Woodside shares have dropped 8%.

The post Woodside (ASX:WPL) share price ends higher on Wednesday after energy giant vows to fight Pluto legal challenge appeared first on The Motley Fool Australia.

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• ASX shares to buy for the Omicron COVID outbreak
• 5 things to watch on the ASX 200 on Wednesday
• Why is the Woodside (ASX:WPL) share price climbing today?
• 5 things to watch on the ASX 200 on Tuesday
• ASX 200 (ASX:XJO) midday update: Omicron hits Flight Centre, Domino’s jumps

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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Jitters over the Omicron COVID mutation continue to rock markets and a handful of ASX shares could represent the best place to seek shelter.

This is despite the fact that renewed social and border restrictions is likely to take the wind out of the S&P/ASX 200 Index (Index:^AXJO).

The more infectious Omicron variant has already hit our shores and it is only a matter of time before it surfaces in the US.

Should ASX investors fear new COVID outbreak?

We won’t know for weeks if Omicron is resistant to current vaccines or how severe the new strain is. The good news is that we are unlikely to see a repeat of the previous harsh lockdowns that derail economic growth.

However, ASX share investors shouldn’t be too quick to celebrate, according to Macquarie Group Ltd (ASX: MQG).

“We do not expect the same level of volatility seen at the start of the pandemic, as the world has already adapted to life in a pandemic,” said the broker.

“But given central banks were tapering plus diminishing fiscal stimulus and generally already high asset prices, there is a risk equity market volatility is higher than during COVID waves over the last year.”

ASX shares climbing the Omicron wall of worry

In other words, while the world is better prepared to deal with COVID mutations, central banks have run out of ammo to keep supporting risk assets.

Even before Omicron, ASX share investors were already fretting over surging cases in parts of Europe. Countries like Austria and Germany were reintroducing restrictions as winter gets into full swing to contain the outbreak.

But this isn’t time to throw in the towel. Macquarie has identified the ASX shares that could be beneficiaries of COVID, particularly as US cases rise.

One COVID matrix to watch

“We calculated a COVID capture ratio as the ratio of relative returns when US COVID cases were decelerating in 2021 divided by returns when cases were accelerating,” explained Macquarie.

“Like a Beta, this ratio indicates the sensitivity of relative performance to changes in COVID cases.”

A ratio below 1 indicates an ASX share that is more likely to outperform when COVID infections rise. A figure above 1 indicates the opposite.

Best and worst ASX shares to shelter from Omicron

Among the large cap ASX shares, those with a ratio below 1 include the Goodman Group (ASX GMG) share price and Brambles Limited (ASX: BXB) share price.

Others in the same camp are the ASX Ltd (ASX: ASX) share price and Northern Star Resources Ltd (ASX: NST) share price – just to name a few.

On the flipside, the Omicron losers include the Woodside Petroleum Limited (ASX: WPL) share price, Nine Entertainment Co Holdings Ltd (ASX: NEC) share price and Vicinity Centres (ASX: VCX) share price.

Banks and financial shares are also among the losers. These include the Westpac Banking Corp (ASX: WBC) share price, Commonwealth Bank of Australia (ASX: CBA) share price, Virgin Money UK CDI (ASX: VUK) share price and AMP Ltd (ASX: AMP) share price.

The post ASX shares to buy for the Omicron COVID outbreak appeared first on The Motley Fool Australia.

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The Rhythm Biosciences Ltd (ASX: RHY) share price is in the red today after the company announced a board and management restructure.

At the time of writing, the cancer diagnostics company is trading down 4.26% at $1.76. This follows a stellar day in the market on Tuesday which saw the Rhythm Biosciences share price surge 11.21% to an intraday high of $2 before closing at $1.83.

What did Rhythm Biosciences announce today?  

In today’s release, the company announced significant changes to the board and management structure, effective immediately.

Non-executive chair Otto Buttula moves to executive chair, while CEO Glenn Gilbert joins the board as a managing director.

The promotion for Buttula will see his pay increase from $84,000 to $150,000, while Gilbert’s take-home salary will stay the same.    

Commenting on the changes, Buttula said:

The board has decided to make these changes at a pivotal time to leverage Glenn and my joint experience driving corporate and commercial scale-up activities. Glenn has already established a robust platform that has positioned Rhythm to continue maximising value for all stakeholders.

I view this executive function for the chair to be a short-term, but important role to provide further executive corporate support to the company as it enters several critical commercialization agreements across the globe.

What else is news at Rhythm Biosciences?

Investors appeared to welcome an announcement from the company yesterday which included an update on its ColoStat blood test for detecting colorectal cancer.  

The company said it had achieved a major regulatory milestone for the commercialisation of ColoStat, paving the way for commersialisation in global markets including Europe.

According to Rhythm Biosciences, Colostat will reduce health costs, sickness and deaths associated with colorectal cancer by increasing current screening rates.

Rhythm Biosciences share price snapshot

The Rhythm Biosciences share price has skyrocketed this year, up 187.7% in the past 12 months.

On Tuesday, the share price was in the green 7.4% at the close after the ColoStat regulatory milestone.

The post Rhythm Biosciences (ASX: RHY) share price slumps amid ‘pivotal’ board changes appeared first on The Motley Fool Australia.

More reading

• Rhythm Biosciences (ASX:RHY) share price rockets amid US$12bn market opportunity
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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 Rio Tinto Limited (ASX: RIO) share price has gone up 2% today. It has outperformed the S&P/ASX 200 Index (ASX: XJO) which has gone down by 0.1%.

You’d have to ask the buyers and sellers today exactly why they were willing to transact 2% higher than yesterday, but there have been a couple of different things that have happened this week.

Is the iron ore price affecting the Rio Tinto share price?

The profits and investor sentiment about resource businesses can change as the price of the underlying resource changes as well.

Rio Tinto is one of the biggest iron ore miners in the world. The price change of iron can seriously alter its profit outlook – it costs virtually the same for Rio Tinto to dig up a tonne of iron, whether the commodity is priced at US$100 per tonne or US$150 per tonne.

In the FY21 third quarter alone, Rio Tinto produced 83.3mt of iron ore (which was down 4% year on year, though up 10% the second quarter of FY21).

Overnight, according to CommSec, the iron ore price increased by 0.2% to US$100.10 as it makes a slow-but-steady recovery from the lowest price a few weeks ago.

The more that the iron ore price recovers, the more Rio Tinto’s profit potential increases in the short-term.

However, the Rio Tinto share price is still almost 25% lower than it was six months ago.

Vale reduces iron production forecast

One of the other huge iron ore miners in the world is Vale from Brazil.

Vale is a major competitor to Rio Tinto and the other ASX iron ore miners like BHP Group Ltd (ASX: BHP).

As reported yesterday by my Motley Fool colleague Brendon Lau, Vale has downgraded how much iron ore it is expecting to produce this year, with a reduction from the previous range of 315mt to 335mt to the lower range of 315mt to 320mt.

But the 2022 production guidance was also reduced to a range of between 320mt to 335mt.

Vale said that it wanted to protect its margins over volume, so it is holding back shipments of lower-quality ore.

Is the Rio Tinto share price an opportunity?

Opinions are mixed on the business. At one end is a broker like UBS which currently rates the ASX miner as a sell with a price target of just $79 because of the poor outlook for iron ore.

However, analysts at Credit Suisse rate the business as a buy with a price target of $106 with China potentially causing a recovery in 2022.

The post Why is the Rio Tinto (ASX:RIO) share price having such a great day? appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are topping the volume charts this Wednesday
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• These were the 5 worst performing ASX 200 shares in November
• These were the 5 best performing ASX 200 shares in November

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 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’s now almost exactly four months since the buy now, pay later (BNPL) pioneer Afterpay Ltd (ASX: APT) announced that it is to be acquired by the US payments giant Square Inc (NYSE: SQ). It might seem like old news today. But at the time, one cannot overstate the significance of this development. Not only would an Afterpay acquisition be one of the largest corporate takeovers in Australian history. But it also could result in Square shares joining the ASX boards. 

If Square, a US$96.1 billion ($134.4 billion) company, were to join the ASX boards, it would immediately become one of our largest ASX-listed companies. It would exceed the market capitalisation of BHP Group Ltd (ASX: BHP). This is exactly what both companies intend to happen if the merger is successful.

But it’s been four months now. Four months in which the Afterpay share price has drifted almost 16% lower than the price it was asking the day after the acquisition news become public.

So what’s happening with the Afterpay-Square marriage? Is it a done deal? Or could someone still be left at the altar?

When will Afterpay and Square tie the knot?

Well, when Square and Afterpay initially announced the tie-up, they listed a number of hoops both companies would have to jump through before the deal could be finalised. These included regulatory approval and approval from the shareholders of both companies.

Well, Square shareholders have since given the marriage their tick of approval. This happened back on 4 November. Since then, the Supreme Court of New South Wales has given the company a green light to convene an extraordinary general meeting on the proposed merger. This will occur next week on Monday 6 December, when Afterpay shareholders will get their own chance to vote on the acquisition.

If shareholders vote ‘yes’, as Afterpay’s board has recommended they do, then the last major hurdle will be removed from the process.

If all goes well, Afterpay and Square will be on track to become one company. Presumably during “[the] first quarter of calendar year 2022” – the original date that both companies gazetted.

So this Afterpay and Square merger certainly isn’t a done deal yet. But if Afterpay shareholders vote in favour of it next week, it will be a lot closer to being so.

The post Is the Afterpay (ASX:APT) Square takeover a done deal? appeared first on The Motley Fool Australia.

More reading

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• What is the difference between buying Square and Afterpay (ASX:APT) shares?
• How Afterpay (ASX:APT) is using AI in its push for BNPL domination
• First there was Afterpay (ASX:APT), but soon Beforepay will be hitting the ASX
• Own Afterpay (ASX:APT) shares? Here’s how the company is pushing for carbon neutrality

Motley Fool contributor Sebastian Bowen owns shares of Square. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO and Square. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. 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 Winsome Resources Ltd (ASX: WR1) share price is taking off again today as it enjoys its first full day as a listed company.

The company completed its initial public offering (IPO) yesterday. Following Winsome’s debut, its stock surged 30% to finish its first session trading at 26 cents.

At the time of writing, the Winsome Resources share price is 32 cents, 23% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is down 0.22% right now, while the All Ordinaries Index (ASX: XAO) has slid 0.33%. However, the S&P/ASX 200 Resources Index (ASX: XJR) is gaining 0.89% on Wednesday.

Additionally, since it first floated, more than 35 million of the company’s shares have swapped hands.

In case you missed it, here is a breakdown of what Winsome Resources is all about.

A quick refresher

Born from the spin-out of MetalsTech Ltd‘s (ASX: MTC) lithium assets, Winsome Resources operates 3 hard-rock lithium projects in Canada’s Quebec Province.

All its projects are still in the exploration or development phase.

It is focusing on producing lithium for the North American battery and electric vehicle sectors.

Winsome Resources share price soars on Wednesday

Winsome Resources floated on the ASX shortly after midday yesterday, much to the market’s delight.

It offered its shares for 20 cents apiece under its heavily-subscribed prospectus, which would have seen it listing with a market capitalisation of around $36.9 million.

However, at its current share price, the company’s valuation sits at approximately $44.7 million.

Winsome Resources’ IPO raised $18 million for the company, boosting its balance sheet in the process.

The company has around 134 million shares outstanding. Impressively, more than 21 million of those were traded yesterday.

Additionally, around 14.5 million have swapped hands today.

The post Winsome Resources (ASX:WR1) share price surges another 23% on second day of trade appeared first on The Motley Fool Australia.

More reading

• Winsome Resources (ASX:WR1) share price surges 50% following IPO

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

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