It is a momentous day on the cryptocurrency timeline today as crypto assets pass US$3 trillion (A$4.05 trillion) in total value. The milestone moment in history comes as the price of Bitcoin (CRYPTO: BTC), Ether (CRYPTO: ETH), and other digital currencies hit new record highs.

At the time of writing, the largest cryptocurrency by market capitalisation, Bitcoin, is fetching A$91,201. Meanwhile, Ether is being swapped at a price of A$6,465.

For context, the entire crypto ecosystem is now worth more than the world’s most valuable listed company, Microsoft Inc (NASDAQ: MSFT). In terms of assets, the contentious digital investment is now only second to gold in size, at US$11.6 trillion.

What’s the next move for crypto?

While there are still plenty of cryptocurrency sceptics in the world, the last month or so has seen numerous developments fuelling positive investor sentiment. These have mainly involved Bitcoin — though, in the crypto space often a rising tide lifts all boats.

In Australia alone, this month has already seen the announcement of the Commonwealth Bank of Australia (ASX: CBA) making crypto services available via its CommBank app. Secondly, the very first Australian cryptocurrency exchange-traded fund (ETF) landed on the ASX last week. These announcements marked further institutional acceptance.

The continuation in the crypto bull market has been relentless over the past 12 months. In fact, Bitcoin has returned 294% in the past year. Even more impressively, Ether has delivered more than a 10X return over the same timeframe.

Understandably, investors and market participants are wondering where to from here. Unfortunately, none of us can see into the future. Though, some analysts’ forecasts have painted a rosy picture for the near term.

According to Adrian Zduńczyk, known as Crypto Birb on Twitter, Bitcoin could be set for a rally towards US$80,000 (~A$108,000) in the near future. At the same time, Zduńczyk has pencilled out a price target of US$20,000 for early 2022.

Likewise, executive director at crypto fund ARK36, Mikkel Mørch, explains why there is potential for further upside in Bitcoin:

As Bitcoin exchange balance is at a 3 year low while long-term holder supply is at an all-time high, there are simply too few bitcoins available to keep up with the demand.

The post The total value of crypto just surpassed US$3 trillion, what’s next? appeared first on The Motley Fool Australia.

More reading

• Why Dogecoin, Shiba Inu and Bitcoin investors should ‘follow’ Elon Musk
• Here’s why the Betashares Crypto Innovators ETF (ASX:CRYP) share price is surging 7% today
• Big pay rises on the cards? And what about Bitcoin? Scott Phillips on Weekend Sunrise
• The Bitcoin (CRYPTO:BTC) price is still leaping higher, and so is its energy use
• Could ANZ be the next ASX bank to jump on the crypto bandwagon?

Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Mitchell Lawler owns shares of Bitcoin, Commonwealth Bank of Australia, and Ethereum. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Microsoft. 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.

from The Motley Fool Australia https://ift.tt/3qk0Co7

The Seven West Media Ltd (ASX: SWM) share price is in the green today after the company’s bosses outlined its strong performance through financial year 2021 (FY 2021).

The company’s managing director and CEO James Warburton also provided the market with a positive trading update and outlook for financial year 2022 (FY 2022).

Meanwhile, Seven West chair Kerry Stokes called on the Federal Government to commit to additional regulation.

At the time of writing, the Seven West share price is 56.2 cents, 4.17% higher than its previous close.

Let’s take a look at Seven West’s annual general meeting today.

Seven West’s strong FY 2021

The Seven West share price is surging higher after its chair, Kerry Stokes, announced the company’s free-to-air television network has been boosted back into the most dominant position.

Over FY 2021, the Seven network was the most-watched free-to-air television channel in Australia. On top of that, its 7Plus streaming service reached 10 million viewers. Stokes stated:

Seven Network achieved this extraordinary success on the back of marquee sports events, including the Tokyo Olympics, the AFL and, in particular, its finals season, and the summer of cricket.

The combination of our premium sports programming with our continuing dominance of news and current affairs, as well as a refreshed programming schedule, were keys to our success.

The company’s The West newspaper also outperformed over FY 2021.

Stokes expects such enthusiasm for its content will continue into FY 2022, and so far it has. Since the start of FY 2022, the company’s television audience share has gained another 4.3% – or 1.4% excluding its coverage of the Olympics.

Finally, Stokes commended the Federal Government for “finally act[ing] to partly arrest the damage caused by foreign multi-nationals in the Australian media sector”.

However, he called for greater commitment to regulating the prominence of free-to-air services on all televisions. He also pushed for the government to extend the anti-siphoning list to include online streaming services.

According to Stokes, doing so will ensure audiences free access to Australian news, sport, and entertainment.

What’s next for Seven West?

The Seven West share price might also be being boosted by a positive outlook from Warburton. He noted Seven is expected to win 40% of the metro TV advertising market in the current 6-month period.

Since the start of this financial year, 7plus’ revenue has increased 145%. The company’s also on track to deliver between $15 million and $20 million of saving this financial year.

It expects to exceed analysts’ forecast for FY 2022’s earnings before interest, tax, depreciation, and amortisation (EBITDA) of around $260 million by between 7% and 10%. That prediction excludes benefits from the newly acquired Prime Media Group Limited (ASX: PRT).

Finally, Seven West expects Seven’s digital earns to more than double this financial year to $120 million. One of the reasons for the outlook is the company’s agreements with Alphabet Inc (NASDAQ: GOOG) and Facebook Inc (NASDAQ: FB) over payment for news content.

FY 2022 will see Seven broadcasting the Commonwealth Games and the Winter Olympics. It will also be airing the Ashes Test series, BBL and WBBL, and the Bathurst 1000.

However, Warburton warned shareholders not to be too excited just yet:

While we have revitalised the schedule in record time, it’s worth remembering that revenue share growth lags ratings improvement…

While you cannot ‘flick a switch’ when it comes to building audience numbers, the investment in our content is clearly paying dividends – and in record time.

Seven West share price snapshot

Over FY 2021, the Seven West share price gained a whopping 410%, increasing from 9.1 cents to 46.5 cents.

It has increased by another 21% since the start of FY 2022.

The post Seven West (ASX: SWM) share price jumps 4% amid return to free-to-air dominance appeared first on The Motley Fool Australia.

More reading

• Seven West (ASX:SWM) share price lifts 10% amid Prime Media acquisition
• What’s sending the Seven West Media (ASX:SWM) share price up 6% on Friday?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Alphabet (A shares) and Meta Platforms, Inc. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), 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.

from The Motley Fool Australia https://ift.tt/3C1qmaO

The Afterpay Ltd (ASX: APT) share price is having a great day on the ASX. Unfortunately, not everyone is as happy about the buy now, pay later service provider as the market seems to be.

According to reports in Guardian Australia, Afterpay’s recent foray into hospitality could have the potential to cause financial harm to some Australians.

At the time of writing, the Afterpay share price is $120.47, 3.19% higher than its previous close.

Let’s take a closer look at today’s news regarding Afterpay.

Afterpay share price gains despite regulatory worries

The Afterpay share price is in the green today, but some commentators have expressed concern the law is failing to protect vulnerable consumers against BNPL services.

This follows hospitality group Australian Venue Co announcing its partnership with Afterpay last week.

Together, the two companies will launch ‘Dine Now, Pay Later’ in 160 of Australian Venue Co’s establishments. The payment service will be available to pub-goers by the middle of this month.

Australian Venue Co’s CEO Paul Waterson commented on the addition of the BNPL giant’s service, saying:

Our customers have been clear. We know what they want, and we’re happy to offer them more flexibility, especially as they shift away from credit cards.

However, Financial Counselling Australia’s campaign director James Hunt told the Guardian Australia the BNPL sector is “like the wild west without a sheriff”:

We totally understand why people would be using these products when you can’t afford food… But you don’t have consumer protection like you do with credit cards or personal loans… We’re seeing more people becoming overcommitted.

According to the publication, both Hunt and the Consumer Action Law Centre’s director of policy and campaigns, Katherine Temple, have called on the federal government to place greater regulations on BNPL services.

Australian Venue Co maintains that Afterpay doesn’t trap vulnerable customers and is, instead, a budgeting tool.

Additionally, the company states Afterpay will only be a payment option for food and drink purchases at its establishments. It says any potential concerns surrounding the use of Afterpay for in-venue gaming or wagering are unfounded.

Finally, a trial conducted at Australian Venue Co’s Mr Yum found 90% of purchases using Afterpay were for food while 10% were payments for alcohol.

The concerns have emerged just days after the latest news of Square Inc‘s (NASDAQ: SQ) takeover of Afterpay was released.

Last week, Square’s shareholders voted in favour of providing scrip for the $39 billion takeover, now set to go ahead early next year.

The Afterpay share price gained 2% on the back of the news.

The post Afterpay (ASX:APT) share price lifts despite hospitality push creating concerns appeared first on The Motley Fool Australia.

More reading

• Afterpay (ASX:APT) ‘represents our largest potential’: Jack Dorsey
• Why are ASX 200 tech shares having such a lousy day?
• Why Afterpay, Clinuvel, Inghams, and Virgin Money UK shares are tumbling
• Which tech shares are dragging down the ASX 200 on Friday?
• Expert highlights big threat to the Zip (ASX:Z1P) 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. 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.

from The Motley Fool Australia https://ift.tt/3mVnlVe

The SiteMinder Ord Shs (ASX: SDR) share price is charging higher again on Tuesday.

At one stage today, the leading open hotel commerce platform provider’s shares were up a further 9% to a record high of $7.65.

When the SiteMinder share price reached that level, it was up a whopping 51% from Monday’s IPO listing price.

Why is the SiteMinder share price rocketing higher?

Investors have been scrambling to buy SiteMinder shares since they landed on the ASX boards yesterday after the company raised $627 million via an oversubscribed IPO.

This gave the company a market capitalisation of $1.36 billion at listing. Though, with the SiteMinder share price rocketing higher since then, its market capitalisation is now approximately $2 billion.

This means its shares are changing hands for approximately 19x June’s annualised recurring revenue (ARR) of $104.9 million.

What is SiteMinder?

SiteMinder was founded in Australia in 2006, and is the world’s leading open hotel commerce platform. It is trusted by more than 32,000 hotels, across 150 countries, to sell, market, manage and grow their business.

SiteMinder generated more than 100 million reservations worth over US$35 billion in revenue for hotels in the 12 months prior to the start of the pandemic.

Its customers are hotels and other accommodation providers, including vacation rentals, lodges, motels, and enterprise properties. Approximately 75% of SiteMinder’s subscription base is small and medium-sized businesses, generating approximately 71% of FY 2021 subscription revenue.

The future

While SiteMinder has been growing at a strong rate in recent years, management believes its journey is only really getting started.

Commenting on the IPO, SiteMinder’s CEO and Managing Director, Sankar Narayan, said: “In many ways, we’re just getting started. We are very excited to have taken this step, which represents the next stage of the SiteMinder business and our ongoing evolution.”

“The global hotel industry has experienced evolution like never before in recent times. The need for technology like SiteMinder’s hotel commerce platform is of substantial relevance as hotels have had to digitally transform with haste, while adjusting to their customers’ changing needs and behaviours.”

This could make the SiteMinder share price one to watch in 2022. Particularly given the increasingly positive outlook for travel markets.

The post SiteMinder (ASX:SDR) share price is up 51% in two days following IPO appeared first on The Motley Fool Australia.

More reading

• Siteminder (ASX:SDR) share price rockets 35% on ASX debut

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.

from The Motley Fool Australia https://ift.tt/3kfe8p2

The Vanguard MSCI Index International Shares ETF (ASX: VGS) has had a blazing start to the month of November on the ASX boards. VGS units are up a healthy 4.1% since the start of the month, rising from $100.35 at the end of October to the $104.50 per unit the shares are asking today (at the time of writing). That’s a pretty impressive performance for this ASX exchange-traded fund (ETF), especially considering the S&P/ASX 200 Index (ASX: XJO) has ‘only’ managed a gain of roughly 1.8% over the same period.

VGS is one of the ASX’s most popular ETFs. It covers a truly massive underlying portfolio of more than 1,500 shares. These hail from advanced economies around the world, dominated by the United States with 69% of the portfolio’s exposure in US shares. Other significant contributors are the markets of Japan, Canada, the United Kingdom, and Europe.

But even though this ETF has more than 1,500 individual holdings, the top 5 companies in its basket still command 14.55% of the ETF’s total weighting. Those top 5 companies are Apple Inc (NASDAQ: AAPL), Microsoft Corporation (NASDAQ: MSFT), Amazon.com Inc (NASDAQ: AMZN), Facebook-owner Meta Platforms Inc (NASDAQ: FB) and Google-owner Alphabet Inc (NASDAQ: GOOG)(NASDAQ: GOOGL).

So let’s see how these companies have performed since the start of the month.

VGS ETF rises on strong performance of its largest shares

Apple is up 0.43% since 31 October at last night’s closing price of US$150.444 a share.

Microsoft is up 1.62% at last night’s US$336.99 a share.

Amazon has put on 3.46% at US$3,448.98 a share.

Meta Platforms has added 4.65% to its value since the start of the month, and was asking US$338.62 a share at last close.

And Alphabet (Class C) is up 0.73% to last night’s close of US$2,987.03 a share. Incidentally, last night also saw Alphabet hit a market capitalisation of US$2 trillion for the first time.

It’s also prudent to point out that VGS’s sixth-largest holding by market cap is none other than Tesla Inc (NASDAQ: TSLA), which has gained 4.31% since the start of the month as well.

So, we have all 6 of VGS’s largest holdings reporting some solid share price growth over November so far. This would likely have played a big role in VGS’s appreciation over the month to date.

Another factor that is probably helping is the Australian dollar. The Aussie has fallen from more than 75 US cents at the start of the month to today’s level of 74.01 US cents. That’s a drop of around 1.35%.

This is significant because most of VGS’s assets are priced in US dollars. That means that when our dollar falls in value against the US dollar, the value of those assets in Australian dollars rises, helping to give the VGS unit price something of a tailwind.

It’s likely a combination of these factors that have resulted in VGS having such a flying start to November.

VGS has returned an average of 16.14% over the past 3 years and 15.96% over the past 5. The Vanguard MSCI Index International Shares ETF charges a management fee of 0.18% per annum.

The post Why is the Vanguard MSCI Index International Shares ETF (ASX:VGS) off to such a great start in November? appeared first on The Motley Fool Australia.

More reading

• Why Dogecoin, Shiba Inu and Bitcoin investors should ‘follow’ Elon Musk
• Here’s why the Betashares Crypto Innovators ETF (ASX:CRYP) share price is surging 7% today
• ASX 200 (ASX:XJO) midday update: NAB result disappoints, PointsBet surges
• PayPal strikes a deal with Amazon, what could this mean for the share price?
• Here’s how the Medibank (ASX:MPL) share price has performed against the ASX200 in the last 3 months

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. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen owns shares of Alphabet (A shares), Meta Platforms, Inc., and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Alphabet (A shares), Meta Platforms, Inc., and Vanguard MSCI Index International Shares ETF. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Meta Platforms, Inc., and Vanguard MSCI Index International Shares ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3CXPUH3

Elon Musk is at it again.

The founder of global electric vehicle and battery maker Tesla Inc (NASDAQ: TSLA) is well known for his seemingly off-the-cuff media proclamations and tweets regarding leading cryptos and his own company.

And when Elon Musk has something to share, investors tend to take note.

Aside from impacting Tesla’s share price, the multi-billionaire’s tweets and comments have been known to affect the prices of Bitcoin (CRYPTO: BTC), Dogecoin (CRYTPO: DOGE), and Shiba Inu (CRYPTO: SHIB).

We’ll get back to his crypto moving powers shortly, and why it’s worth following along with his latest thoughts.

But first…

Tesla share price sinks

Musk’s latest foray onto Twitter over the weekend helped send the Tesla share price down more than 7% in intraday trading yesterday (overnight Aussie time). Tesla finished the day down 5%. It’s down another 0.3% in after-market trading.

In an email to the Motley Fool on Friday (before Musk’s latest tweet), global investment platform eToro’s market analyst Josh Gilbert said:

Elon Musk is the richest man in the world right now, so when he speaks, people listen. Musk has famously been in hot water previously over his comments regarding Tesla on his Twitter feed. Now, he’s better known for his tweets surrounding cryptoassets.

Indeed, according to the Bloomberg Billionaires Index, Musk is worth US$338 billion (AU$456 billion). To put that number in proper perspective, that’s $456,000,000,000.

Put another way, Elon Musk could give $1 million Aussie dollars to 456,000 people. That’s 4.5 times the full capacity of the Melbourne Cricket Ground (MCG), with every person walking away holding a million bucks.

That’s serious wealth.

How did Elon Musk send the Tesla share price lower?

Over the weekend Musk took to Twitter to poll his roughly 63 million followers.

The reportedly cash-poor billionaire asked whether he should sell 10%, or some US$21 billion, of his Tesla shares. It seems he may need that money if the proposed new billionaires’ tax passes into law in the United States.

That law would mandate taxes be paid even on unrealised capital gains. Of which Musk has quite a lot.

Musk tweeted, “I will abide by the results of this poll, whichever way it goes”. And the majority, 58%, of the roughly 3.5 million people who participated voted that he should sell his Tesla shares.

After tweeting that he “was prepared to accept either outcome” following the results of the poll, investors sent the Tesla share price down sharply once markets opened.

Elon Musk’s virtual token moving powers

When it comes to Musk’s market-moving powers, the virtual realm stands out.

Back in June this year, Musk helped propel the Bitcoin price higher when he announced that Tesla would accept the token as payment for its vehicles. Fast forward a few months, and Musk’s announcement that this would be suspended until Bitcoin mining was done using more sustainable energy sources saw the token promptly sink.

Then there are the so-called dog coins — Dogecoin and the newcomer, Shiba Inu.

Musk offered a tailwind to both tokens when he tweeted a picture of his Shiba Inu puppy in October.

Both digital coins have soared since then. Though when Musk clarified that he owns Dogecoin – along with Ethereum and Bitcoin – but not Shiba Inu, the Shiba Inu token sank in value.

Also in October, eToro’s Gilbert told us, “The Twitter page @uberfacts tweeted, ‘Elon Musk is predicted to become the world’s first trillionaire, thanks to SpaceX’.”

Musk, who currently has more than 63 million followers on the social media platform replied with, “In dogecoin”.

Gilbert added:

Musk has previously told his loyal followers that he owns Dogecoin and that SpaceX will accept the cryptoasset as payment. Along with others, Musk has had a sizable role in the adoption of cryptoassets, so although we may view Dogecoin as a ‘meme’ coin, if he says it has value, then it’s hard to discount his opinion.

Don’t lose track of the risks

While it’s worth keeping an eye on Elon Musk’s latest musings, there are risks involved, especially in the highly volatile world of cryptos.

According to Gilbert:

Musk has a huge responsibility on his shoulders, and at times, it feels like he forgets this before posting tweets. Of course, there can be benefits to following every tweet that the richest man in the world makes, as he has a vast knowledge of the cryptoasset market. However, this doesn’t come without risks.

An example of this is his appearance on Saturday Night Live, when he ‘joked’ about Dogecoin. The cryptoasset consequently plunged around 30% around the time of the show.

How are Dogecoin, Shiba Inu and Bitcoin performing?

Dogecoin is up 3.4% over the past 24 hours, currently worth 28.03 US cents. That’s down 62% from its all-time high of 73.76 US cents, hit on 8 May this year, according to data from CoinMarketCap.

Shiba Inu is up 6.7% in 24 hours, at 0.0057 cents. Shiba Inu is down 35% from its own record highs, set on 28 October.

As for Bitcoin, the world’s largest crypto by market valuation, it just hit a new record high. Bitcoin is up 3.7% over the last 24 hours, currently at US$67,478. That’s down just a fraction from the new all-time high set just an hour earlier, of US$67,772.

I wonder what Elon Musk will have to tweet about that?

The post Why Dogecoin, Shiba Inu and Bitcoin investors should ‘follow’ Elon Musk appeared first on The Motley Fool Australia.

More reading

• Here’s why the Betashares Crypto Innovators ETF (ASX:CRYP) share price is surging 7% today
• Big pay rises on the cards? And what about Bitcoin? Scott Phillips on Weekend Sunrise
• The Bitcoin (CRYPTO:BTC) price is still leaping higher, and so is its energy use
• Could ANZ be the next ASX bank to jump on the crypto bandwagon?
• Own NAB shares? Here’s the bank’s proposal to stop crypto mania getting ‘really ugly’

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended 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.

from The Motley Fool Australia https://ift.tt/3EUMRQI

The Pure Hydrogen Corporation Ltd (ASX: PH2) share price is leaping to a multi-year high on Tuesday. This comes after the company announced it will establish a presence on the east coast of Australia.

During the first hour of trade, the energy company’s shares touched a high of 70 cents, before some profit-taking occurred. At the time of writing, its shares are now swapping hands for 69 cents, up 25.46%.

Pure Hydrogen moves ahead on exciting strategy

Investors are driving up Pure Hydrogen shares today following the company’s latest development.

In its release, Pure Hydrogen advised that it has signed a term sheet with CAC-H2 to build waste hydrogen plants. The facilities will be constructed in the country’s three most populous states, New South Wales, Victoria and Queensland.

The first plant is scheduled to be built in Queensland and is expected to be online in late 2022. It will produce high purity green hydrogen that can be used for fuel cell vehicles and the mobility sector.

Under the arrangement, CAC-H2 will fund, build, and operate the plants whilst Pure Hydrogen will fund storage and loadout. The planned sites will not only bring new jobs to each of the states but also support Australia’s path to decarbonisation. The country has a net-zero goal by 2050.

Pure Hydrogen managing director, Scott Brown commented:

We are very excited to be partnering with CAC-H2 and establishing facilities to service the East Coast of Australia supplying hydrogen fuel. We are pulling all facets of the supply chain together to deliver a complete solution for commercial and industrial users. We will continue to develop our existing projects and the partnership with CAC-H2 which will allow us to bring forward hydrogen supply coverage to the east coast more rapidly.

Currently, the company is working with commercial users to supply hydrogen fuelling through off-take agreements and vehicle supply contracts. It is also pursuing other channels to develop and strengthen its hydrogen fuel supply chain.

Pure Hydrogen share price summary

Over the past 12 months, Pure Hydrogen shares have accelerated to post a gain of almost 741% for investors. When looking at year-to-date, its share price performance is just as impressive, up 684% for the period.

Pure Hydrogen commands a market capitalisation of roughly $216.57 million, with approximately 313.88 million shares outstanding.

The post Pure Hydrogen (ASX:PH2) share price rockets 25% amid major plant production news appeared first on The Motley Fool Australia.

More reading

• Why the Pure Hydrogen (ASX:PH2) share price is leaping to a multi-year high today
• Pure Hydrogen (ASX:PH2) share price jumps 5% on hydrogen vehicle plans
• Why are ASX hydrogen shares in the spotlight on Monday?

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.

from The Motley Fool Australia https://ift.tt/3qjWSTB

The S&P/ASX 200 Index (ASX: XJO) is having a rather wild day of trading so far this Tuesday. After initially exploring both negative and positive territory this morning, the ASX 200 has now turned positive again and, at the time of writing, is up by 0.02% at 7,453 points. But that’s nothing compared to one ASX exchange-traded fund (ETF). That would be the BetaShares Crypto Innovators ETF (ASX: CRYP).

The BetaShares Crypto Innovators ETF has only been on the ASX boards since last week when it floated on the morning of 4 November. But it soon was the talk of the ASX town, breaking the record for trading volumes for a new managed investment within hours of its listing.

And it might well be the talk of the town again today. The Crypto Innovators ETF is currently up a sizeable 7.12% so far this Tuesday at $12.34 a unit at the time of writing.

So what’s behind this huge leap upwards in valuation for this new ASX ETF?

Well, there’s little doubt the news that the global cryptocurrency market has just hit US$3 trillion for the first time ever overnight is helping. This follows the flagship cryptocurrency Bitcoin (CRYPTO: BTC) hitting a new all-time high overnight as well.

CRYP ETF’s major holdings shoot the lights out

But let’s also check out what’s been happening with CRYP’s major underlying holdings. As an ETF, CRYP invests in a basket of underlying shares. In this ETF’s case, these shares are selected to provide “exposure to global companies at the forefront of the dynamic crypto economy”.

So, according to the provider, CRYP’s current top 5 holdings are as follows:

1. Galaxy Digital Holdings Ltd
2. Silvergate Capital Corp
3. Marathon Digital Holdings Inc
4. Coinbase Global Inc
5. Microstrategy Inc

All 5 companies are US shares (except for the Canadian Galaxy Digital) so let’s see how they performed in last night’s trading (our time).

Galaxy Digital shares were up 6.16% to C$42.22.

Silvergate saw a 0.94% gain to US$217.18 a share.

Marathon Digital shares were up a whopping 17.99% to US$75.30.

Coinbase put on a robust 5.01% to US$353.92 a share.

And Microstrategy was up 7.84% to US$860 a share.

So, as you can see, these top 5 holdings in CRYP had an extremely successful night of trading overnight. This would also be feeding into sentiment for this ETF today.

The BetaShares Crypto Innovators ETF charges a management fee of 0.67% per annum.

The post Here’s why the Betashares Crypto Innovators ETF (ASX:CRYP) share price is surging 7% today appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: NAB result disappoints, PointsBet surges
• How the Coinbase share price rocketed 40% last month
• Here’s how the Medibank (ASX:MPL) share price has performed against the ASX200 in the last 3 months
• ASX 200 companies take note – global carbon credit trades soaring
• Big pay rises on the cards? And what about Bitcoin? Scott Phillips on Weekend Sunrise

Motley Fool contributor Sebastian Bowen owns shares of Bitcoin and Coinbase Global, Inc. 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.

from The Motley Fool Australia https://ift.tt/3H6HL5G

The Megaport Ltd (ASX: MP1) share price is soaring higher today to trade up 4.1% at $20.26.

That marks a record high for the ASX tech company, having rallied 21% in the past month alone. This comes after it bounced off its 52-week low on 29 March.

As such, shares in the global elastic interconnection services provider have come in well ahead of the S&P/ASX All Technology Index (ASX: XTX). The broad sector has gained around 4% over the past month.

And with this flurry of buying activity from investors comes attention from analysts at investment banking giant Macquarie Group Ltd (ASX: MQG), who have initiated coverage on the tech share.

Let’s get straight into it and see what the experts at Macquarie are saying about the Megaport share price.

Can Megaport shares gain another 20%?

The team at Macquarie certainly thinks so, particularly given the outcome from its trading update last month.

In its report, Megaport recognised substantial gains in recurring revenue of 14% from the previous quarter, totalling $8.6 million.

In fact, overall revenue surmounted to almost $25 million from the quarter, another 8% quarterly gain.

This, Macquarie reckons, is being under-appreciated by the market, as investors may be overlooking Megaport’s growth schedule.

As such, the broker has initiated coverage of the company by posting an outperform rating on the Megaport share price.

Analysts at the firm like the way Megaport generates revenue, by leasing port access of its virtual platform to tech customers.

It notes this business model – which is labelled as ‘Network-as-a-Service’ – appears to be robust and has attracted the likes of Zoom, Uber, and eBay as customers.

Macquarie reckons Megaport will continue to rebound its operations. This began around the same time it appointed a new chief revenue officer in February.

Alluding to its own projections, Macquarie notes that once 40% of all Megaport’s sellable ports are utilised, it is set to realise substantial margin improvements throughout its statement of income.

As such, it forecasts the company’s port utilisation to hit 75% by FY24, well ahead of the 47% achieved in FY21.

With these bullish points in mind, the broker patched a $24 price target on the company’s shares. That implies an 18% upside potential at the time of writing.

Megaport share price snapshot

The Megaport share price has soared around 30% in the last 12 months and 42% this year to date.

It has climbed 21% in the last month alone and lifted around 8% this past week.

Each of these results have outpaced the benchmark S&P/ASX 200 index (ASX: XJO)’s returns across all time frames.

The post Why Macquarie sees another 20% growth in the Megaport (ASX:MP1) share price appeared first on The Motley Fool Australia.

More reading

• Analysts name 2 rapidly growing ASX tech shares to buy
• 2 quality ASX tech shares ripe for the picking
• Megaport (ASX:MP1) share price outperforms All Tech Index by 14% over the past month
• Why ASX 200 tech shares are leading the charge higher today
• Top brokers name 3 ASX shares to sell next week

The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended MEGAPORT FPO. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia has recommended MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3mWl8c2

This morning National Australia Bank Ltd (ASX: NAB) released its full year results and revealed a huge increase to its dividend.

Though, that hasn’t been enough to stop the banking giant’s shares from sliding lower today.

In early afternoon trade, the NAB share price is down 2% to $28.50.

NAB doubles dividend

While shareholders may be disappointed to see the NAB share price in the red today, they will no doubt be pleased to see the bank grow its dividend materially in FY 2021.

In case you missed it, the banking giant reported cash earnings of $6,558 million in FY 2021. This was up 76.8% over the prior corresponding period and allowed the NAB board to declare a fully franked final dividend of 67 cents per share. This was ahead of what the team at Morgans was forecasting. The broker was expecting a final dividend of 64 cents per share.

This brought the full year NAB dividend to $1.27 per share fully franked, which was up 112% on FY 2020’s 60 cents per share dividend.

Based on its cash profits, this dividend represents a payout ratio of 63.7% of earnings. This is likely to increase in the future with NAB announcing plans to adjust its capital and dividend settings during FY 2021. It will now target a payout ratio range of 65% to 75% of cash earnings.

NAB’s Non-Executive Director and Chair, Philip Chronican, commented: “We are pleased to have increased dividends across the full year to 127 cents per share, compared to a reduced level in 2020. This outcome is closer to the level of shareholder return the Board is targeting going forward, with future dividends to be guided by a target payout ratio range of 65-75% of sustainable cash earnings, subject to circumstances at the time.”

When will shareholders be paid?

According to the release, the final 67 cents per share fully franked NAB dividend will be paid to eligible shareholders in approximately five weeks on 15 December.

To be eligible to receive this payment, investors need to be owning the bank’s shares before they trade ex-dividend on Monday 15 November. This means you’ll need to own them at Friday’s close. If you don’t and you buy shares on Monday or afterwards, the rights to the dividend will remain with the seller.

The post The NAB (ASX:NAB) dividend doubled in FY21: Here’s what you need to know appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: NAB result disappoints, PointsBet surges
• NAB (ASX:NAB) share price falls despite bumper $6.56 billion cash profit
• NAB (ASX:NAB) share price on watch after reporting 77% jump in cash earnings
• 5 things to watch on the ASX 200 on Tuesday
• Analysts name 2 ASX 200 dividend shares to buy

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.

from The Motley Fool Australia https://ift.tt/3kjuGfF