Business magnate James Packer might be most well known for his success in Crown Resorts Ltd (ASX: CWN). But, the last year has shown Packer’s ability to make a pretty penny in tech shares as well.

The Australian billionaire tends to make his investments through the private company known as Consolidated Press Holdings (CPH). In fact, Crown Resorts’ largest shareholder is Packer via the CPH holding company. However, the gaming and entertainment group played less of a role in the monumental $530 million profit that CPH booked in the last financial year.

Instead, the bumper profit was beefed up by investments in various tech names.

Tech shares deliver for Packer’s pocket

According to documents obtained by The Australian, James Packer’s CPH pulled a profit that puts it among one of the biggest for an Australian private company in FY21. This result is a positive contrast to the $400 million paper loss recorded by CPH in the previous financial year — but what helped the billionaire’s net worth?

In FY21, the assets held on the balance sheet of CPH rose $480 million in value. The company also cashed in on $114 million worth of various assets during the period. This allowed Packer to pay himself a considerable $111 million dividend from his company.

A large chunk of the returns was from Packer’s investment in a number of technology shares. Examples of this include the Southeast Asian real estate marketplace PropertyGuru. The fast-growing business is set to list on the Nasdaq for US$1.8 billion.

In addition to this, it is believed Packer has around $100 million invested directly in the venture capital firm, Square Peg Capital. This gives the Aussie business persona exposure to tech startups such as Airwallex, Canva, Fiverr International Ltd (NYSE: FVRR), and Stripe.

After listing in 2019, the share price of Fiverr soared more than 200% during the last financial year. Although, possibly one of the most successful startup investments in 2021 was graphic design platform Canva.

The Sydney-based company blew minds with its flying valuation — from ~US$6 billion to ~US$55 billion in the space of 12 months.

Not Packer’s first rodeo

James Packer’s foray into investing in ‘tech’ shares is not his first. Throughout the 2000’s, he hit some home runs within the emerging online classifieds space. In 2003, Packer invested $33 million in SEEK Limited (ASX: SEK), giving him a 25% stake in the company at the time. He went on to sell his $33 million investment in the job advertisement platform for $440 million.

Similarly, in 2005 Carsales.Com Ltd (ASX: CAR) caught the eye of the businessman. As a result, the Packer family acquired a 41% stake in the company for $100 million.

For reference, Carsales today has a market capitalisation of $7.08 billion.

The post Here’s how James Packer made $500 million from investing in shares this year appeared first on The Motley Fool Australia.

More reading

• Carnaby (ASX:CNB) share price rockets 33% on lithium update
• Why is the Hazer (ASX:HZR) share price getting tasered today?
• IDT (ASX:IDT) share price swings as CEO lauds mRNA tech in fight against Omicron
• How did the Betashares Global Cybersecurity ETF (ASX:HACK) perform in November?
• Here’s why the IOUpay (ASX:IOU) share price is sinking today

Motley Fool contributor Mitchell Lawler 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 SEEK Limited and carsales.com 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 Carnaby Resources Ltd (ASX: CNB) share price is off to the races today, up 33% in early afternoon trade.

Below we take a look at the latest soil sampling results from the ASX resource explorer.

What lithium results were announced?

The Carnaby share price is surging after the company reported promising lithium results at its 100% owned Big Hill Project in the Mallina Basin of Western Australia.

According to the release, soil sampling results revealed a 1.5 kilometre by 0.5 kilometre lithium soil anomaly. Soil results came back with up to 179 parts per million (ppm) lithium.

Carnaby noted the proximity of its project to the “giant world class” Pilgangoora and Wodgina lithium mines. It said the soil anomaly at Big Hill is “coincident with a discrete magnetic high unit” located on a major fault structure. The geological setting appears to be similar to the Pilgangoora and Wodgina lithium deposits.

Commenting on the results, Carnaby’s managing director, Rob Watkins said:

We are in unexplored lithium and gold elephant country at Big Hill and look forward to first pass drilling of the Big Hill soil anomalies as quickly as possible. While we remain extremely excited about our gold prospects in the Pilbara, we cannot ignore a walk up lithium drill target of this ilk, which has presented itself at Big Hill.

Carnaby has significant exposure to energy metals with our Duchess Copper Gold project and considers lithium a long term metal of the future that we are compelled to explore for in conjunction with the gold exploration in the Pilbara of WA.

Carnaby said that heritage clearances needed to commence drilling at Big Hill, have been completed.

Carnaby share price snapshot

Despite today’s intraday leap, the Carnaby share price remains down 18% in 2021. By comparison the All Ordinaries Index (ASX: XAO) is up 10% year-to-date.

Over the past month, Carnaby’s shares are up 8%.

The post Carnaby (ASX:CNB) share price rockets 33% on lithium update appeared first on The Motley Fool Australia.

More reading

• Why is the Hazer (ASX:HZR) share price getting tasered today?
• IDT (ASX:IDT) share price swings as CEO lauds mRNA tech in fight against Omicron
• How did the Betashares Global Cybersecurity ETF (ASX:HACK) perform in November?
• Here’s why the IOUpay (ASX:IOU) share price is sinking today
• Why is the Emerald Resources (ASX:EMR) share price still in the deep freeze 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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It’s shaping up to be a rough day on the ASX for the Hazer Group Ltd (ASX: HZR) share price.

At the time of writing, the company’s stock is trading at $1.30, 2.99% lower than its previous close.

The fall comes despite no news released today by the hydrogen and graphite production technology developer.

For context, the broader market is also in the red today. Right now, the S&P/ASX 200 Index (ASX: XJO) has fallen 0.47%, while the All Ordinaries Index (ASX: XAO) is down 0.53%.

Let’s take a look at what might be weighing on the Hazer share price on Wednesday.

Why is the Hazer share price slipping?

The Hazer share price is sliding alongside the S&P/ASX 200 Materials Index (ASX: XMJ) and its ASX hydrogen peers.

Right now, the materials sector is down 0.43%.

Meanwhile, Pure Hydrogen Corporation CDI (ASX: PH2) and Province Resources Ltd (ASX: PRL) are both experiencing share price drops of around 4%.

So, what’s going so wrong for ASX hydrogen shares today? Well, they might be being impacted by the movements of some of their United States-based counterparts.

US market concerns

Overnight, the share price of FuelCell Energy Inc (NASDAQ: FCEL) fell 2.6%, while that of Plug Power Inc (NASDAQ: PLUG) tumbled 4.2%.

While the drop wasn’t experienced across the board, its potential cause might be enough to worry ASX investors.

According to reporting by our United States-based colleagues, the NASDAQ-listed companies struggled overnight due to their position as growth stocks.

As hydrogen as an energy source is a relatively new concept, most players in the field are growth stocks.

That leaves them vulnerable to market movements, such as those we often see when big news of COVID-19 or interest rates come out.

And such market movements that might be happening right now, as the Omicron variant takes centre stage, spurring the United States Federal Reserve to pin the variant as a potential driver of inflation.

Meanwhile, back in Australia

However, good news for Australia’s hydrogen industry – though, perhaps a signal of increasing competition – was released recently.

GeelongPort announced it’s committed to building a $100 million hydrogen hub, where it will produce and distribute the energy source, yesterday.

Today’s fall included, the Hazer share price is 12% lower than it was this time last month. Though, it’s still 62% higher than it was at the start of 2021.

The post Why is the Hazer (ASX:HZR) share price getting tasered today? appeared first on The Motley Fool Australia.

More reading

• The Hazer (ASX:HZR) share price is having a bad day but it’s still up 50% in a month
• Hazer (ASX:HZR) share price rises as hydrogen refuelling gains federal funding

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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The IDT Australia Limited (ASX: IDT) share price has been up and down today, currently down 2.46% to 59.5 cents per share.

Today’s price swings follow on from an outstanding performance yesterday.

After the ASX medical research company reported it had successfully created the first mRNA COVID-19 vaccine candidate in Australia, the IDT share price surged, closing the day up more than 38%.

As the Motley Fool reported yesterday:

The drug product passed all the required specifications and is now going through the release process for clinical trials. In total, 450 doses of the vaccine have been manufactured, allowing 150 volunteers to take part in the upcoming study. This is expected to commence in the new year, with results expected later in 2022.

Below we look at why IDT’s CEO, Dr David Sparling, says it’s critical for Australia to have its own messenger RNA (mRNA) production facilities.

Why mRNA is a vital tool against COVID variants like Omicron

With COVID-19 having again mutated, many experts predict that Omicron will replace Delta as the prevalent strain in 2022. And most experts agree that Omicron is unlikely to be the last variant we see before, hopefully, humanity gets ahead of the pandemic.

Sparling says it’s crucial that Australia obtains the ability to develop and produce its own mRNA vaccines domestically.

According to Sparling (quoted in the Australian Financial Review):

It’s quite pivotal when you think about it. The dividends that can pay off in the future is the ability for us to be less reliant on overseas suppliers of vaccines and more reliant on our own capabilities.

The IDT share price has been volatile as it developed its vaccine candidate in only 5 months. The company worked together with the Monash Institute of Pharmaceutical Sciences and Doherty Institute. Addressing the rapid development, Sparling said:

The reason why these vaccines were developed so quickly is because the vaccine can be modified very quickly. That is the beauty of this platform and this technology: you can put a new mRNA sequence into the vaccine and quickly change the vaccine for future variants…

Things can change very quickly, but what I would say is at least developing the capability to manufacture these things for ourselves puts us on the cutting edge of this science and put us in a very good position to fight whatever difficult issues that may come up next.

IDT share price snapshot

The IDT share price has had a tremendous year, up 213% since 4 January. For some context, the All Ordinaries Index (ASX: XAO) is up 8% year to date.

Over the past month IDT shares have gained 13%

The post IDT (ASX:IDT) share price swings as CEO lauds mRNA tech in fight against Omicron appeared first on The Motley Fool Australia.

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• The Starpharma (ASX: SPL) share price surges on Vietnam launch
• IDT Australia (ASX:IDT) share price rockets 40% on COVID vaccine update

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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November wasn’t a great month for ASX shares, as we can now say since December has begun. Over the month just gone, the S&P/ASX 200 Index (ASX: XJO) went from 7,323.7 points at the end of October to yesterday’s closing figure of 7,256 points. That’s a month-on-month drop of 0.92%. But how did the BetaShares Global Cybersecurity ETF (ASX: HACK) perform?

HACK investors might be used to some healthy market-beating performance by now. That’s because the HACK exchange-traded fund (ETF) is a bit of a high flyer. As of 31 October, it has managed to return an average of 22.86% per annum since its inception in 2021, including a return of 51.49% over the 12 months to 31 October. 

So did HACK live up to this reputation over November? Let’s find out.

HACK hacks November

So HACK units were asking a price of $10.41 each as we began November. Yesterday, they finished up at $$10.97 each. That’s a monthly return of 5.38% or so. HACK didn’t pay any dividend distributions over the month either, so that’s also investors’ absolute return for November. It also doesn’t include the 1.4% fall HACK units have suffered so far today either (down at $10.82 a unit at the time of writing).

But even so, that 5.38% return is a meaningful outperformance of the ASX 200 and ASX shares in general. So where did this performance come from?

Well, as an ETF, HACK invests in an underlying basket of assets, in this case shares. Not just any shares, though. This ETF only selects companies from the Nasdaq Consumer Technology Association Cybersecurity Index. This index holds a concentrated portfolio of (presently) 36 shares from around the world. It aims to select companies that are leaders in the global cybersecurity space.

As of 31 November, its top holdings (and weightings) were as follows:

1. Palo Alto Networks Inc (NYSE: PANW) with a portfolio weighting of 7%
2. Accenture plc (NYSE: ACN) with a weighting of 6.3%
3. Cisco Systems Inc (NASDAQ: CSCO) with a weighting of 5.5%
4. Okta Inc (NASDAQ: OKTA) with a weighting of 4.9%
5. Crowdstrike Holdings Inc (NASDAQ: CRWD) with a weighting of 4.7%

So is it likely that the performances of these top holdings were largely behind the BetaShares Cybersecurity ETF’s stellar November? Let’s check it out.

So Palo Alto indeed had an impressive month, rising just under 7.5% over November as of this morning’s (our time) market close over in the US.

Accenture shares slipped 0.4% though over the same period.

Cisco shares also fell, this time by just over 2%.

Okta had a rather wild month, falling almost 13% over November by market close this morning.

And Crowdstrike came out on the bottom, delivering a nasty 23% or so fall over the month just gone.

What was behind the Global Cybersecurity ETF’s stellar month?

So it was actually the performance of HACK’s top holding in Palo Alto that is largely to thank for this ETF’s impressive November. But HACK’s month would have probably been a lot worse if it wasn’t for the Australian dollar also having a very poor month. The Aussie had a shocker, falling by more than 5% against the US dollar over November. It started the month close to 75 US cents, but is currently around 71 US cents as of today.

Since most of HACK’s top holdings are US companies priced in US dollars, a falling Aussie dollar makes these investments more valuable in Australian dollar terms. This would have given the BetaShares Cybersecurity ETF a huge buffer against any falls its portfolio would have suffered. 

So there you have it, the likely reasons behind the BetaShares Global Cybersecurity ETF’s stellar November. HACK charges a management fee of 0.57% per annum.

The post How did the Betashares Global Cybersecurity ETF (ASX:HACK) perform in November? appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended BETA CYBER ETF UNITS and CrowdStrike Holdings, Inc. The Motley Fool Australia owns shares of and has recommended BETA CYBER ETF UNITS. 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 IOUpay Ltd (ASX: IOU) share price is heading south after coming out of a trading halt on Wednesday.

Earlier this morning, the Malaysia-based buy now, pay later (BNPL) provider announced an update on its investment in I.Destinasi Sdn Bhd (IDSB).

IDSB is a specialised finance company that provides instalment-based consumer credit services in Malaysia.

At midday on Wednesday, the IOUpay share price dropped 8.11% below yesterday’s close before making up some ground. At the time of writing, IOUpay shares are fetching 17.8 cents apiece, down 4.05%.

IOUpay moves ahead with planned investment

Investors are sending the IOUpay share price lower following a broader market sell-off on the All Ordinaries (ASX: XAO). The index is currently trading at 7,557 points, down 0.4% after some heavy losses recorded in Wall Street overnight.

In its announcement, IOUpay advised that it has satisfied all the required conditions to make its first payment for IDSB.

During September, IOUpay entered into a share purchase agreement to acquire a 42% interest in IDSB for approximately $41.3 million.

The terms of the deal would see the payment split into 2 equal tranches over a 6-month period.

As such, IOUpay tapped into its existing cash holdings to pay around $20.7 million to the vendors of IDSB. This represents 50% of the purchase price, or 21% of the shares in the total issued capital of IDSB.

The second tranche payment is due once the audit of IDSB’s FY21 statutory accounts is complete, or within 6 months after settlement. The date, however, can be brought forward if IOUpay wishes to do so.

The company stated it will assess its cash position before making the final payment. It noted that it could conduct an equity capital raise as well as use its cash reserves to fund the second tranche.

About the IOUpay share price

Looking at the past 12 months, the IOUpay share price has gone nowhere, registering nil gains for the period.

The company’s shares shot up in February, reaching a multi-year high of 85 cents, before gradually treading lower. More recently, the IOUpay share price hit a 9-month low of 15.5 cents on Monday.

IOUpay commands a market capitalisation of roughly $102 million at today’s current share price.

The post Here’s why the IOUpay (ASX:IOU) share price is sinking today appeared first on The Motley Fool Australia.

More reading

• IOUpay (ASX:IOU) share price halted amid acquisition news
• Why is the IOUpay (ASX:IOU) share price tumbling 7% on Tuesday?

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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The freeze on the Emerald Resources NL (ASX: EMR) share price has been extended today as the company prepares to release some potentially big news.

According to the gold producer, explorer, and developer, it is getting ready to announce a material acquisition.

Right now, the Emerald Resources share price is sitting at $1.07, where it will stay for the near future.

The Emerald Resources share price freeze continues

Today is now the fourth day the company’s stock has been frozen after it entered a trading halt on Friday last week.

As the initial trading halt was due to end today, this is likely why the company requested its stock be suspended from trade this morning.

Now, the market expects the company’s acquisition news to be announced sometime between now and Friday’s open. That is unless the company extends its freeze once more.

A little background…

In its most recent quarterly release, Emerald Resources advised it was assessing “value-adding assets for subsequent developments to create a multi-asset gold producing company”.

Emerald Resources has also recently ramped up its Okvau gold mine’s production to full capacity. Thus, it may have the time to put into a new development project.

Additionally, at the end of the September quarter, it had around $15.4 million in cash in the bank and $17.3 million worth of gold bullion at hand. The company also has access to a US$100 million acquisition and development facility.

The last time Emerald Resources broke a trading halt was back in June. It broke that halt with an update on its Okvau gold mine, including details of the project’s maiden pour.  

Then, its stock’s value soared 12% before tumbling once more to finish flat with its previous close.

Right now, the Emerald Resources share price is 14,5% higher than it was this time last month. It has also gained 18.3% since the start of 2021.

The post Why is the Emerald Resources (ASX:EMR) share price still in the deep freeze today? appeared first on The Motley Fool Australia.

More reading

• I lost money. I didn’t buy. But I loved Monday.
• 2 reasons why Shiba Inu surged more than 30% today
• GUD (ASX:GUD) share price plunges 6% following cap raise
• Why this billionaire investor thinks Omicron could be bullish for the share market
• The Magellan (ASX:MFG) share price dropped in November 2021. Here’s what happened

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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I absolutely loved Monday.

No, I didn’t avoid losing money,

No, I didn’t buy anything when share prices fell.

The reason I loved Monday had nothing to do with me.

It had everything to do with you.

Let me tell you a story.

When I joined The Motley Fool more than a decade ago, I had a meeting with our Global Chief Investment Officer, Andy Cross.

He wasn’t drilling me on stock picking.

He wasn’t telling me what recommendations to make.

Typically of The Motley Fool, and unusually just about everywhere else, he wanted me to make sure I was looking after our members.

“We’ll get — and keep — the members we deserve”, I remember him saying.

No, not in a sales or marketing sense.

Not even in a stock-picking sense.

His very clear message to me was that while we’re ostensibly here to pick stocks, we have a much deeper and greater responsibility.

“Get them ready for whatever comes”, is another line I recall, as clearly as if it was yesterday.

Look, I try not to do too much selling in these pieces. We do enough of that elsewhere, which gives me the luxury to write about what’s on my mind, and what I hope will be of benefit to our members and readers.

But I will say that Andy’s words are typical of him, and of the approach we have ever-after tried to instil in our team here in Australia.

We are here, yes, to pick stocks. But that’s only half the job. Maybe less than half.

The rest is making sure we prepare you to ride the waves.

Because no matter how good our stock-picking (and I reckon it’s pretty good), it’s useless to our members if they don’t have the preparedness to actually see it through.

Imagine buying Amazon.com, Inc. (NASDAQ:AMZN) shares at $100, only to sell out when they hit $9.

They’re now over $3,000.

Some people did precisely that.

(I own shares in Amazon. Unfortunately, I wasn’t smart enough to buy them at either $9 or $100!)

Poor buggers.

Right company. Right opportunity. Wrong temperament and/or understanding of markets.

We at The Motley Fool absolutely have to do the first bit. But unless you go with us on the second bit, it might come to naught.

Which brings me back to Monday.

Before the market opened, the ASX 200 futures were pointing to a 1.5% fall, in the face of Omicron uncertainty.

The market opened around 1.1% down.

By 4pm Sydney time, that fall had halved, to a decline of 0.54%.

No, the halving of that decline wasn’t why I loved Monday either.

Before the ASX opened, I tweeted and posted on Facebook Inc (NASDAQ: FB) that investors shouldn’t panic.

The result?

To a person, every comment was a version of either ‘nope, not selling’ or ‘I’m actually looking for bargains’.

Can I tell you, that’s about the highest praise I can get.

Those responses, and the fact that investors remembered that we’re playing a long game, were what I loved about Monday.

It was, to no small degree, an echo of an email I received the other day. After asking a question for our podcast mailbag episode, Michael added at the end:

“Thanks for the podcast; has enlightened me on hundreds of walks to work and helped me chill out and buy stocks in March 2020 which probably brought my retirement forward a few years.”

Now, I’m no saint, and I like earning a salary as much as the next bloke, but that sort of comment, and those on my social feeds on Monday, are exactly why I do this job.

Thank you for making it a joy.

Here’s to riding the waves, together, in calm confidence.

Fool on!

The post I lost money. I didn’t buy. But I loved Monday. appeared first on The Motley Fool Australia.

More reading

• 2 reasons why Shiba Inu surged more than 30% today
• GUD (ASX:GUD) share price plunges 6% following cap raise
• Why this billionaire investor thinks Omicron could be bullish for the share market
• The Magellan (ASX:MFG) share price dropped in November 2021. Here’s what happened
• Own IAG (ASX: IAG) shares? Here’s why the company is facing a shareholder class action

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Motley Fool contributor Scott Phillips owns shares of Amazon. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Meta Platforms, Inc. The Motley Fool Australia has recommended Amazon 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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

What happened

Today, popular dog-themed cryptocurrency Shiba Inu (CRYPTO: SHIB) has surged more than 32% as of 9:30 a.m. ET. This move brings Shiba Inu to new weekly highs, and is a continuation of strong momentum yesterday.

There appear to be two key catalysts behind today’s price action.

First, market-related exuberance appears to be back, with most major cryptocurrencies trading significantly higher today. That said, Shiba Inu is currently the biggest winner out of any top-50 token, suggesting this meme cryptocurrency could have regained its momentum.

Second, a company-specific catalyst appears to be at play for Shiba Inu today. The Kraken exchange announced it would be supporting Shiba Inu from Nov. 30 on.

So what

Because it’s a meme token, momentum is everything for Shiba Inu. Strength in the crypto markets, combined with strong search trends for Shiba Inu this past week, could mean retail investor interest in SHIB is back.

However, this Kraken listing is a big deal. Kraken is the fourth-largest crypto exchange in the world, and is U.S.-based. This exchange listing provides more options for retail investors to get in on the action with Shiba Inu. Considering the fact that Shiba Inu recently passed 1 million wallet-holders, the hope for many speculators is that even more individuals will jump on this momentum-driven rally.

Now what

It’s important to note that the Kraken listing will allow for trading on this platform, but will not provide SHIB futures or margin trading services. That said, a win is a win, with retail investors and speculators cheering this move.

Momentum appears to be back in the meme token space, with Shiba Inu once again leading this surge. Speculation that another rally is underway is running rampant right now. Accordingly, this is a token that’s likely to see some significant volatility from here.

How high Shiba Inu can run from here remains to be seen. Indeed, it appears this token is finally headed in the right direction. That said, investors should always be aware of the extremely high risks associated with digital assets, and meme tokens in particular. We’ve seen what can happen when momentum dries up. 

However, for now, the party appears to be on. 

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

The post 2 reasons why Shiba Inu surged more than 30% today appeared first on The Motley Fool Australia.

More reading

• Why Shiba Inu Coin sank 7% today

Chris MacDonald 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.

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

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The GUD Holdings Limited (ASX: GUD) share price has returned to trading following the company’s completed institutional component.

GUD shares dropped ~10% at market open before finding a gear. At the time of writing, the diversified products company’s shares are swapping hands for $11.23, down 6.65%.

GUD shares resume trading

It has been a disappointing day for GUD shares, with investors selling their holdings amid the company’s successful equity raise.

GUD has raised gross proceeds of approximately $290 million through an institutional placement and institutional entitlement offer, according to its release.

The institutional component sees 1 share issued for every 3.46 GUD shares owned. Issued at $10.40 apiece, the majority of eligible institutional securityholders took up their allocated minimum entitlements.

The company will allot the newly-created shares to accounts on 8 December, and will be available to trade the following day.

Under the placement, about 11.5 million new shares have been issued at the offer price, raising $120 million.

With the institutional entitlement offer and placement now completed, the retail component will commence on 6 December. Hoping to raise an additional $115 million, GUD will offer the same terms and ratio of shares to eligible retail shareholders. The retail entitlement offer will close on 15 December.

In total, the company is aiming to raise $405 million for the acquisition of AutoPacific Group (APG). GUD recently entered into a share purchase agreement with APG for a total consideration of around $744.6 million.

GUD managing director and CEO Graeme Whickman commented:

We are pleased with the strong support shown by new and existing shareholders for the equity raising and the acquisition of APG, which will see the group make a meaningful step towards its vision of becoming an integrated leader in 4WD Accessories and Trailering in Australia and New Zealand with future export potential.

About the GUD share price

Trading along in small and sharp share price movements, GUD shares have gone nowhere over the last 12 months. Year-to-date share price performance is also similar, down by just 4% for the period.

GUD presides a market capitalisation of roughly $1.14 billion, with approximately 94.86 million shares on its books.

The post GUD (ASX:GUD) share price plunges 6% following cap raise appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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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