The James Hardie Industries (ASX: JHX) share price is in the red on Tuesday after rumours that its ousted CEO could be gearing up for a legal battle hit headlines.

The company’s former boss was shown the door last week after the company found that his treatment of employees, while not discriminatory, went against its code of conduct.  

After spending most of this morning in the green, the James Hardie share price has currently slipped to $50.08. That’s 0.18% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently down 0.6%.

Let’s take a look at the latest in the building product company’s leadership debacle.

James Hardie share price slumps amid legal challenge rumours

According to reporting by The Australian, Truong seems to be readying himself to challenge James Hardie with a legal battle, which he expects will amount to a settlement.

That could help Truong recover some of the valuable incentives taken off the table on his termination.

According to the company, he is only eligible to statutory entitlements after being shown the door.

The company claimed its former boss engaged in bullying behaviour, with many employees feeling threatened and intimidated.

On Monday, reports emerged stating that Truong had issued a response to his termination, saying it “blindsided” him and denied the company’s version of events.

Interestingly, a now-former James Hardie director, Dr Moe Nozari, resigned yesterday effective immediately.

Nozari previously sat on the company’s Nominating and Governance Committee. The committee evaluates board members and senior management, among other responsibilities.

In Truong’s wake, James Hardie director Harold Wiens has been appointed to the role of interim CEO while the board looks for its next boss.

After all the commotion, the James Hardie share price is far from the green this week.

Over the last 7 days, the company’s stock has slipped 10.5% lower. Though, it’s still 40% higher than it was this time last year.

The post James Hardie (ASX:JHX) share price slips amid Jack Truong battle heating up appeared first on The Motley Fool Australia.

More reading

• James Hardie (ASX:JHX) management shakeup continues. Here’s what you should know
• Why API, James Hardie, Magellan, and St Barbara shares are dropping
• ASX 200 (ASX:XJO): Woolworths withdraws API proposal, tech shares rebound
• James Hardie (ASX:JHX) share price on watch after CEO kicked out

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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At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is tumbling lower. The benchmark index is currently down 0.5% to 7,409.4 points.

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

PolyNovo shares rocket

The PolyNovo Ltd (ASX: PNV) share price is rocketing higher today after the release of a first half sales update. According to the release, the medical device company expects to report first half group sales growth of 45% year on year to A$16.28 million excluding Barda revenue and 43% to A$18.04 million including Barda revenue. A strong performance in the US underpinned this growth.

Inghams update disappoints

Investors have been selling down the Inghams Group Ltd (ASX: ING) share price today after the release of a disappointing trading update. The poultry producer revealed that COVID-19 and elevated feed costs are impacting its performance. Management also warned that it is not currently possible to predict how long this disruption will continue.

Ramsay shares higher on NHS agreement

The Ramsay Health Care Limited (ASX: RHC) share price is pushing higher on Tuesday. This follows news that the private hospital operator has signed a new volume-based agreement with NHS England (NHSE). The deal will see the company make its services available to the NHSE and its patients to meet the ongoing demands resulting from the COVID-19 pandemic.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Tuesday has been the PolyNovo share price with a massive 20% gain following its sales update. Going the other way, the Inghams share price is the worst performer on the ASX 200 today. The poultry company’s shares are down 7% at lunch following the release of its trading update.

The post ASX 200 (ASX:XJO) midday update: PolyNovo rockets, Inghams sinks appeared first on The Motley Fool Australia.

More reading

• Here’s why the PolyNovo (ASX:PNV) share price is jumping 13% today
• Inghams (ASX:ING) share price sinks as Omicron bites
• 2 high-yielding ASX 200 dividend shares to boost income
• 5 things to watch on the ASX 200 on Tuesday
• Here are the top 10 ASX shares today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended POLYNOVO FPO. The Motley Fool Australia has recommended Ramsay Health Care 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 PointsBet Holdings Ltd (ASX: PBH) share price pushed into positive territory on Tuesday. This comes after the company announced it has teamed up with the NHL Alumni Association (NHLAA).

At the time of writing, the sports betting company’s share price is swapping hands for $6.43, up 3.54%.

PointsBet Canada appointed sports betting partner

The PointsBet share price is on the move today following the company’s newest partnership.

According to this morning’s release, PointsBet advised that its subsidiary, PointsBet Canada has become the exclusive sports betting partner of the NHLAA in Canada and also an official partner of the association in the United States.

The multi-year deal enables PointsBet Canada with marketing and licensing rights to the NHLAA and NHL alumni across North America.

Established in 1999, the NHLAA is an organisation that helps the lives of all former NHL players and their families. This is done through providing financial assistance, mental and emotional wellness support, physical care, post-playing career transition, and family aid.

Today, the NHLAA has become the largest membership of retired professional hockey players in the world.

PointsBet Canada chief commercial officer, Nic Sulsky commented:

The NHL Alumni Association has always been at the top of our list as PointsBet entered Canada.

Saturday night hockey is an institution from coast-to-coast-to-coast. Being able to partner with the likes of Paul Coffey, Nicklas Lidstrom, Mike Vernon, and the countless other NHL Alumni that skated across our screens will allow us to deliver the authentically Canadian gaming experience that we want to bring sports fans.

In addition to the news, PointsBet also gave an update following authorisation from the New York State Gaming Commission (NYSGC).

The company noted that its subsidiary, PointsBet New York has commenced pre-registration of New York residents. It’s expected that sportsbook operations will be launched in New York by the end of January, following NYSGC’s final approvals.

About the PointsBet share price

The PointsBet share price has had a disappointing 12 months, registering losses of almost 50% for its shareholders. Notably, the company’s shares reached a 52-week low of $5.87 yesterday, after falling 18% in a month.

Based on the current share price, PointsBet has a market capitalisation of roughly $1.68 billion.

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

More reading

• These were the worst performing ASX 200 shares last week
• Why is the Pointsbet (ASX:PBH) share price on a losing streak today?
• Are these 2 impressive ASX shares buys in January 2022?
• ASX 200 (ASX:XJO) midday update: Big four banks fall, Bega Cheese jumps again
• 3 ASX growth shares could be strong buys

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

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Shares in lithium developer Liontown Resources Ltd (ASX: LTR) are caged up today, currently in a company requested trading halt.

Before Liontown shares were put on ice just prior to the market open, they closed yesterday’s session less than 1% up at $1.55.

The trading halt follows a company announcement yesterday advising it had awarded a key infrastructure contract at its Kathleen Valley Lithium Project in WA.

Let’s take a closer look at how it’s gone down for Liontown so far this week.

What’s up with the Liontown share price today?

According to the ASX, Liontown requested that its securities be placed in a trading halt from the start of trading today.

The halt was granted in lieu of an announcement from Liontown regarding an “offtake arrangement”, and is necessary “to ensure the company can manage its continuous disclosure obligations”.

Liontown requested the pause in trading remain in place until the announcement has been made or the until the start of trading on Thursday, 13 January 2022.

The ASX awarded the company’s request and, as such, the Liontown share price has been in limbo ever since, as investors patiently await the update.

Separately, shares in Liontown were largely agnostic to an announcement made by the company yesterday regarding its flagship Kathleen Valley Lithium Project.

Liontown advised it has awarded a key contract to Metso-Outotec (HEL: MOCORP) for the design, fabrication, and delivery of a Semi-Autogenous Grinding (SAG) Mill at the Kathleen Valley site.

The company says that Metso-Outotec is a “class-leading processing equipment supplier with multiple comparable mill installations in operation across the world”.

According to the release, the contract has a value of approximately $10 million and is in accordance with definitive feasibility study (DFS) estimates.

Checking over the particulars, the agreement specifically covers “the design, fabrication and delivery of a 7.9m diameter and 4.4m effective grinding length 5.5MW SAG Mill. This is inclusive of all lining, lubrication, cooling, electrical and mechanical drive systems necessary for installation and commissioning”.

The SAG Mill will accommodate base production of 2.5 million tonnes per annum (Mtpa) plus the planned expansion to 4Mtpa in year 6 of the Kathleen Valley’s mine plan.

Liontown’s Managing Director and CEO Tony Ottaviano said the SAG Mill contract “is the first of the long-lead items to be ordered and represents an important milestone for the Kathleen Valley Project”.

As it stands, there has been no movement out of Liontown’s camp regarding the offtake announcement and shares remain on ice until further notice.

Liontown share price snapshot

In the past 12 months, the Liontown share price has soared more than 311%, well outpacing the benchmark S&P/ASX 200 Index (ASX: XJO)’s return in that time.

However, things have cooled off in 2022 so far with shares falling more than 6% into the red this year after sliding 5% in the last month alone.

The post Here’s why the Liontown (ASX:LTR) share price is caged today appeared first on The Motley Fool Australia.

More reading

• Why AGL, Genetic Signatures, Liontown, and Novonix shares are charging higher
• Here are the 5 best performing ASX 200 mining and resource shares of 2021
• These are the 5 best performing ASX shares of 2021
• The 5 best ASX lithium stocks of 2021
• New year’s resolution: Why are ASX lithium shares having such a stellar day?

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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The Flight Centre Travel Group Ltd (ASX: FLT) share price went on a rollercoaster ride throughout 2021. Its shares reached a post-COVID high of $25.28 in October before sharply pulling back by almost 30% to today’s prices.

It appears that investors have mixed feelings about the value of Flight Centre shares in the current climate.

At the time of writing, Flight Centre shares are down 0.22% at $18.29 apiece.

What happened to Flight Centre in 2021?

The volatility in the Flight Centre share price last year was driven by new COVID-19 variants, resulting in a staggered recovery across travel markets.

Extended lockdowns and restrictions caused by the Delta variant impacted the company’s operations up until late August. The company spent the first half of the year in hibernation mode as vaccination programs began rolling out. In response, Flight Centre shares were trading around the $15 mark.

However, clearer visibility surrounding the resumption of travel led to Flight Centre shares accelerating above the $20 barrier in September and October. This was due to COVID-19 vaccination targets being met nationally, which provided passengers with more freedoms to travel outside Australia.

The company noted a return to leisure and corporate profitability. Corporate transaction numbers were at 50% of pre-COVID levels, representing around 40% of Flight Centre’s total transaction value (TTV).

A surge in cases overseas in November saw Flight Centre shares nosedive by 20% to roughly $16. Then the emergence of the Omicron variant on the world stage brought further troubles for the Flight Centre share price.

With seemingly no end in sight, investors will be wondering how the company is tracking financially for FY22. It is worth noting the business is a much leaner and more efficient cost base model compared to pre-COVID.

All eyes will be on Flight Centre’s FY22 half-year results which are expected to be released on 24 February.

Is the Flight Centre share price attractively valued?

A couple of brokers weighed in on the Flight Centre share price during the final months of 2021.

Multinational investment bank Citi raised its 12-month price target by 8.1% to $18.31 for Flight Centre shares. This is relatively in line with the current share price.

On the other hand, Goldman Sachs cut its assessment on the Flight Centre share price by 1.4% to $20.40. Its analysts believe there is still some value left in the travel agent over the next 12 months.

A recap on Flight Centre shares

It’s been a challenging year for Flight Centre shareholders, despite gaining around 20% over the past 12 months of trading.

While hitting a low of $16.27 in December, the company’s shares have staged a small rebound. There is currently a support level around the $17.50 mark for Flight Centre shares.

The post Why did the Flight Centre (ASX:FLT) share price have such a volatile year in 2021? appeared first on The Motley Fool Australia.

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• These are the 10 most shorted ASX shares
• Buying ASX shares in 2022? Here’s what you need to know: expert
• 5 best ASX 200 travel shares of 2021
• 2 ASX travel shares that flew higher than Flight Centre (ASX:FLT) in 2021
• Why didn’t Flight Centre (ASX:FLT) shares enjoy any Christmas cheer in December?

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended 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 price of uranium could be about to take off and ASX stocks producing the energy commodity might be set to benefit, according to a major broker.

Macquarie’s equities division has reportedly flagged political unrest in Kazakhstan as a potential driver of uranium spot prices. That’s because the Central Asian country produces around 40% of the world’s uranium.

The broker is said to have reiterated its outperform rating on the Boss Energy Ltd (ASX: BOE) and Paladin Energy Ltd (ASX: PDN) share prices as a result of the now-eased tensions.

Let’s take a closer look at what Macquarie is expecting from ASX uranium shares.

Why is Macquarie bullish on ASX uranium shares?

According to reporting by The Australian, after spot prices of uranium surged 7% to US$46.35 per pound over the last week, the top broker is concerned about the market’s reliance on a few global jurisdictions.

More than 2 thirds of the globe’s uranium is produced in Kazakhstan, Australia, and Canada.

However, a recent conflict in the former Soviet state, which its president is calling an attempted coup d’etat reports ABC News, has piqued the interest of Macquarie Equities.

The broker reportedly believes the unrest emphasised the need to diversify the world’s uranium production, which could drive prices higher. The Australian quoted it as saying:

Given the low level of utility contracting currently, we believe that a price rally would induce contracting for surety of supply which would result in an increase of contracting driving up uranium prices in the near to medium term.

In the longer term, we expect price support new supply requires incentive pricing above US$55/lb.

Right now, the share price of ASX uranium producer Paladin Energy is up 0.27%, trading at 94 cents. Meanwhile, the Boss Energy share price is $2.42, 2.5% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) has slipped 0.51%. At the same time, the All Ordinaries Index (ASX: XAO) is down 0.44%.

The post Here’s why ASX uranium shares could be in for a boost appeared first on The Motley Fool Australia.

More reading

• These were the 5 best performing ASX uranium shares of 2021
• Why are ASX uranium shares charging higher today?
• These 3 ASX 200 shares are topping the volume charts this Tuesday
• Here’s why Bell Potter is tipping 52% upside for the Boss Energy (ASX:BOE) share price

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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Brainchip Holdings Ltd (ASX: BRN) shares have emerged from a trading pause and are shooting higher on Tuesday.

In morning trade, the artificial intelligence technology company’s shares are up 10% to a record high of $1.13.

This means that BrainChip’s shares are now up 66% since closing at 68 cents on New Year’s Eve.

Why have BrainChip shares become such hot property?

Investors have been bidding BrainChip shares higher in response to a number of positive developments.

In fact, the rise was so strong it led to the company receiving a speeding ticket on Monday. The ASX Ltd (ASX: ASX) sent the company a price query, highlighting the “change in the price of BRN’s securities from a close of $0.885 on 6 January 2022 to a high of $1.035 today.”

This morning BrainChip’s shares were briefly paused while it responded to the query.

What was the response?

BrainChip advised that there was no information concerning it that has not been announced to the market which, if known by some in the market, could explain the rise in its share price.

However, it did provide an explanation for why it believes investors may have been buying shares.

The company notes that last week it appointed a new non-executive director and then on Monday it issued a press release which revealed that Information Systems Laboratories is using BrainChip technology in an artificial Intelligence-based radar research project for the Air Force Research Laboratory. Though, it believes the latter is immaterial in nature at this stage and there are no ongoing commercial arrangements in place.

Finally, it highlighted that there has been an increase in editorial tech media coverage regarding the artificial intelligence market in various segments where it operates. It notes that this coverage has grown since the completion of its chip, which management feels “could be a factor regarding increasing market confidence in our technology.”

The coverage above includes, as we highlighted here last week, Mercedes using BrainChip’s Akida chip in its Vision EQXX concept car. The chip is being used in the electric car to power the car giant’s “Hey Mercedes” smart assistant feature.

All in all, this could make BrainChip shares one to watch in 2022. Though, with a market capitalisation approaching $2 billion, expectations are sky high.

The post Why have BrainChip (ASX:BRN) shares become such hot property? appeared first on The Motley Fool Australia.

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• Why Afterpay, BrainChip, Medibank, and WiseTech shares are racing higher
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• The Brainchip (ASX:BRN) share price soared another 19% today. What’s going on?
• Why Brainchip, Pilbara Minerals, Straker, and Whitehaven Coal shares are pushing higher
• Why is the BrainChip (ASX:BRN) share price leaping 7% on the first trading day of the year?

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

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The Allkem Ltd (ASX: AKE) share price has started the year off with a bang. Previously known as Orocobre, Allkem was formed after the merger between Orocobre and Galaxy Resources. It has gained 26.7% over the past month, amid a suite of price-sensitive updates and broker upgrades.

The momentum from the end of 2021 has also continued into the new year. Since the onset of 2022, shares have climbed 7.5% and touched new 52-week highs last week.

Underpinning the upside in Allkem shares are hot-running lithium markets spurred on by heightened demand for electric vehicles. Allkem’s position in the lithium value chain ensures it is a price taker, whose share price will fluctuate with volatility in these markets, say the experts.

JP Morgan also upgraded its baseline lithium forecasts for 2022/23 back in December, bumping up estimates by 30-70% depending on various scenarios. Let’s take a closer look.

What’s driving momentum in the Allkem share price?

The Allkem share price spiked in linear fashion in December. This came as the company released the feasibility study and maiden ore reserve estimate for its James Bay lithium project in Canada.

Allkem advised it had developed a sustainable, high-value hard rock lithium operation using “renewable hydropower” at the site.

The developments enable Allkem to widen its footprint in the North American and European markets for electric vehicles.

These updates also bump up the net present value (NPV) for the site by 2.5x compared to a preliminary economic assessment finished back in March 2021.

As such, Allkem says construction will start at James Bay towards the end of 2022. It hopes to have first commissioning in situ by Q1 2024.

The Allkem share price spiked more than 12% and touched $10.30 apiece in the days following the announcement, and the momentum hasn’t slowed since.

What are brokers saying?

With lithium markets poised to continue their extended run in the green according to several experts, the analyst teams at a number of leading brokers are constructive on the Allkem share price.

UBS thinks Allkem is a buy and values the company at $10.75 per share. The broker opines that Allkem is well positioned to benefit from any continued upside in lithium prices. That is due to it being the owner of a plant that can produce up to 6% lithium oxide from 2 million tonnes of mined ore.

JP Morgan is equally as bullish on the company but reckons Allkem’s earnings multiples are heading into the “expensive” category.

Still, the broker remains optimistic about Allkem “as it builds out its project pipeline with production to quadruple from FY21 levels over the decade”.

The investment case is backed by a period of forecasted dividend growth and return on assets of 20% in FY23/24.

Meanwhile, Macquarie also reckons Allkem is a buy, recently lifting its price target by 13% to $13.60.

In the past month Allkem shares have gained almost 27%. Checking the trade depth on the company we see it has good fountain of momentum behind it, seeing as its 4-week average trading volume has crept up considerably to almost 4 million shares at the open today.

The post Why has the Allkem (ASX:AKE) share price surged 27% in a month? appeared first on The Motley Fool Australia.

More reading

• Brokers name 3 ASX shares to buy today
• Here are the 5 best performing ASX 200 mining and resource shares of 2021
• What is JP Morgan saying about ASX lithium shares?
• LNG hit record highs in 2021 so why did the Santos (ASX:STO) share price struggle?
• 2 ASX 200 mining shares to buy in January

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

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

What happened

The crypto market sell-off has continued into Monday, with most tokens down considerably in morning trading. Mega-cap tokens Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) both broke through psychological barriers, with Bitcoin dipping below $40,000 per token and Ethereum diving below $3,000 per token this morning. Currently, both tokens are down, though losses have been limited to 0.6% and 2.5%, respectively, for Bitcoin and Etheruem over the past 24 hours, as of noon ET.

Notably, Bitcoin is outperforming the overall crypto market today, which is much deeper in the red on the whole. The entire crypto market has lost 1.7% over the past 24 hours as of noon Monday, also dipping below the psychological threshold of $2 trillion in terms of market capitalization.

Once again, meme tokens such as Dogecoin (CRYPTO: DOGE) are leading the way in terms of losses today. Dogecoin is currently down 4.4% over the past 24 hours.

So what

Investors appear to be continuing to move away from risky, growth-related investments toward more defensive asset classes today. In the stock market, the Nasdaq is once again leading losses among major indexes, as investors look toward safe havens. Guidance given by the Federal Reserve via meeting minutes published last week continues to haunt growth investors, who are now pricing in much more meaningful rate increases, sooner than expected.

In the crypto world, levels of “extreme fear” are being noted by various gauges of investor sentiment. For meme tokens such as Dogecoin relying on positive sentiment and investor interest, this current environment is one that’s not friendly to the sort of parabolic growth trends many investors initially hoped for coming into 2022.

Now what 

This macro environment is one that is likely to test the mettle of the crypto market. Whether this is a market that is currently in bubble territory or not will likely be decided by the price action among major cryptocurrencies in the coming months. We’ve seen large declines before, and this could be yet another test for how resilient these digital currencies will be over the longer term.

For investors in more defensive tokens such as Bitcoin, often dubbed “digital gold,” the relative strength investors are once again seeing today may be viewed positively. That said, outside of a few niche tokens, the crypto market is once again moving in high correlation, as capital flows out of the crypto world continue. 

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

The post Why Bitcoin, Ethereum, and Dogecoin plunged today appeared first on The Motley Fool Australia.

More reading

• Forget Bitcoin! These were the 5 crypto assets you wish you’d held in 2021
• Bitcoin and Ethereum are crashing: Is now the time to invest?
• Could Shiba Inu Surpass Dogecoin in 2022?
• The Bitcoin (CRYPTO:BTC) price has tumbled 10% since the start of 2022. Is it a buy?
• This cryptocurrency could 10x by 2026

Chris MacDonald owns Ethereum. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and recommends Bitcoin and Ethereum. 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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It’s been a rough 6 months for many S&P/ASX 200 Index (ASX: XJO) tech shares, with giants such as Afterpay Ltd (ASX: APT) and Zip Co Ltd (ASX: Z1P) tumbling 39% and 53% respectively.

The broader technology market has also been suffering. The S&P/ASX All Technology Index (ASX: XTX) slid 4.4% over the same period. For context, the ASX 200 has gained 1.5% since mid-July.

Fortunately, not all ASX 200 tech shares have slumped alongside the index. In fact, these two have positively taken off.

The 2 outperforming ASX 200 tech shares

WiseTech Global Ltd (ASX: WTC) and TechnologyOne Ltd (ASX: TNE) have each bested the technology market’s performance over the last 6 months.

In that time, the TechnologyOne share price has gained 27%, spurred by a major acquisition and despite tumbling on the release of its full-year results.

Meanwhile, the share price of WiseTech has surged a mammoth 77%, helped along by its financial year 2021 earnings.

Right now, the WiseTech share price is $54.63. Its ASX 200 tech peer TechnologyOne is at $11.68 a share.

The two ASX 200 tech shares have managed to dodge what might have been the start of a concerning period for ASX tech investors.

What’s weighing on tech stocks?

As The Motley Fool Australia reported last week, the US Federal Reserve has hinted at interest rate increases in the near future. That might see liquidity removed from equity markets.

Unfortunately, tech shares, including those on the ASX 200, are uniquely positioned to be impacted the move.

That’s because they’re often valued higher than their current earnings – the market generally expects tech companies’ profits to boom in the future.

When interest rates rise, expected future profits are worth less at current monetary values.

While apparent confirmation that interest rates increases are on the table for 2022 is a relatively recent phenomenon, it’s likely been in investors’ peripherals for some time.

That could explain the sluggish performance of the All Tech Index.

The post These 2 ASX 200 tech shares have withstood the selloff to surge higher over the last 6 months appeared first on The Motley Fool Australia.

More reading

• Sticky revenue winners. Here are the 5 best ASX SaaS shares of 2021
• Why Afterpay, BrainChip, Medibank, and WiseTech shares are racing higher
• 5 things to watch on the ASX 200 on Thursday
• Why are ASX 200 tech shares getting hammered today?
• 2 ASX shares analysts rate as buys in January

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Afterpay Limited, WiseTech Global, and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended Afterpay Limited and WiseTech Global. 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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