The PPK Group Limited (ASX: PPK) share price rose to a record high during late afternoon trade. This comes as the company announced an update in relation to the proposed listing of Li-S Energy Limited (LiS).

At the closing bell, PPK shares finished the day up 9.45% to $21.89. This was just shy of its all-time high of $21.92 reached earlier on.

What did PPK announce?

Investors are fighting to get a hold of PPK shares following the company’s latest approval.

According to the release, PPK advised its 48.5% owned subsidiary LiS has received conditional listing approval from ASX. One of the remaining conditions is receipt by LiS of the remaining escrow deeds for particular classes of existing securities.

A common step in connection with a new listing on the ASX, which requires the securities to be placed into escrow for either 12 or 24 months.

LiS is seeking to launch a $34 million initial public offering to commercialise a new generation of high-performance batteries. Approximately 40 million shares are expected to be issued at a price of 85 cents apiece.

The company uses Boron Nitride Nanotubes (BNNT) technology, which allows lithium-sulphur batteries to hold a significantly higher energy capacity than existing lithium-ion batteries.

Li-S holds key patents covering the function of BNNT to create large scale manufacturing of lithium-sulphur batteries.

Over the coming years, Li-S plans to finalise the design and scale up production of the new batteries. Such applications include charging an electric vehicle after 1,000 kilometres of driving, off-grid solar/battery street lighting and more.

Post the capital raising, PPK will increase its stake in LiS to a 50.12% direct and indirect holding.

PPK share price summary

It has been 12 months for PPK investors, watching their wealth grow over 430% in the period. Year-to-date has also been just as impressive, accelerating to gains by more than 275%.

Based on today’s price, PPK commands a market capitalisation of roughly $1.93 billion and has around 89 million shares outstanding.

The post PPK (ASX:PPK) share price storms 9% higher to an all-time high appeared first on The Motley Fool Australia.

More reading

• Which ASX 300 shares are making headlines on Thursday?
• These were the best ASX All Ordinaries performers in August
• PPK (ASX:PPK) share price up 52% in a month despite Li-S Energy IPO hurdles
• Who’s starting the week off as the biggest mover on the ASX 300 today?

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 Uniti Group Ltd (ASX: UWL) share price had a volatile end to the trading session on Tuesday.

The telecommunications services provider’s shares crashed as much as 17% in late trade to $3.42.

However, the Uniti share price soon rebounded to be down 5% to $3.90 before being placed into a trading halt.

Why is the Uniti share price sinking?

Investors were selling down the Uniti share price this afternoon after it emerged that its Executive Director, Vaughan Bowen, has appeared in court accused of insider selling. This was prior to his time with Uniti.

As we covered here, Mr Bowen allegedly sold $25.7 million worth of Vocus shares in 2019 while possessing inside information.

The Australian Securities and Investments Commission (ASIC) alleges that Uniti’s Executive Director, who was the Vocus Chair at the time, sold 5,617,554 Vocus shares on 4 June 2019.

After a relatively flat day on 4 June, the telco’s shares crashed lower a day later after EQT Infrastructure IV Fund withdrew from takeover talks. ASIC alleges that Bowen knew that the takeover discussions were over when he sold his shares, saving him ~$4.5 million.

Why did Uniti request a trading halt?

Management requested that the Uniti share price be put in a halt this afternoon so that it could respond to the news.

Its trading halt request was: “To enable an orderly release of information regarding an announcement regarding a member of the executive team in response to media activity.”

The company confirmed that it expects the announcement to be made “no later than commencement of trading on Wednesday 15 September 2021.”

All eyes will be on the Uniti share price when that announcement is made. Year to date, the company’s shares are up an impressive 123%.

The post Why the Uniti (ASX:UWL) share price crashed 17% on Tuesday appeared first on The Motley Fool Australia.

More reading

• 5 ASX shares under $10 that have more than doubled in the past year
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• Here are the top 10 ASX 200 shares on Tuesday
• Why HUB24, MNF, Nanosonics, & Uniti shares are surging higher
• Which ASX 300 shares are the biggest winners and losers on Tuesday?

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 recommended Uniti 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 Metal Hawk Ltd (ASX: MHK) share price has continued its trail-blaze into the green and finished the session on Tuesday changing hands at 67.5 cents. That’s a 265% gain on the day.

After a price-sensitive announcement earlier this morning, the company went into a requested trading halt just before lunch.

When its trading halt was lifted, Metal Hawk’s shares gained further momentum as the company released two additional announcements this afternoon. At one stage today the shares were up around 300% to 75 cents.

Let’s investigate further.

What else did Metal Hawk announce today?

The Metal Hawk share price was already on the way up today after the company announced a “massive” nickel discovery at its Berehaven Nickel project.

The discovery was made via the maiden reverse circulation (RC) drilling program at the site, and diamond drilling is now set to take place.

Given the recent rally in the spot price of nickel, it makes sense why the Metal Hawk share price came on investors’ radar.

However, since then, and after a brief pause in trading, Metal Hawk gave an update on its “massive” nickel find.

In a secondary release, the company gave additional colour on the nature, type, and abundance of nickel observed.

Then a short time later Metal Hawk announced it had issued an additional 200,000 fully paid ordinary shares at a “deemed issue price of 22.5 cents per share”, in relation to the purchase of the Snake Hill tenement.

Metal Hawk first announced the Snake Hill acquisition late last month, to fully consolidate the Berehaven project, alongside the purchase sum in shares. So it appears that today was just when the exchange happened.

These announcements appear to have had a material outcome on the Metal Hawk share price, alongside the “massive” nickel discovery.

Metal Hawk share price snapshot

The Metal Hawk share price has earned most of its gains this year in one session today.

Prior to today’s announcement, it was trading flat at an average of around 20 cents a share. Now, it’s well ahead of the S&P/ASX 200 index (ASX: XJO) over the last week.

The post Metal Hawk (ASX:MHK) share price closes 265% higher on action-packed day appeared first on The Motley Fool Australia.

More reading

• Metal Hawk (ASX:MHK) share price explodes 256% on huge nickel discovery

The author Zach Bristow 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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Today, the S&P/ASX 200 Index (ASX: XJO) rallied higher on the back of dovish comments from the governor of the Reserve Bank. The benchmark index moved 0.16% higher to 7,437.3 points.

Shares in the energy sector blitzed other sectors, with many companies with oil production exposure climbing in excess of 5% today.

The question is: which shares delivered the most generously to investors on the ASX today? Here are the ten stocks that rose to the occasion:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Beach Energy Ltd (ASX: BPT) was the biggest gainer today. Shares in the oil-producing company increased 7.21% following a jump in oil prices. Find out more about Beach Energy here.

The next biggest gaining ASX share today was Altium Ltd (ASX: ALU). The software company rose 6.27% to $33.89 despite no news. Uncover the latest Altium details here.

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

ASX-listed company	Share price	Price change
Beach Energy Ltd (ASX: BPT)	$1.115	7.21%
Altium Ltd (ASX: ALU)	$33.89	6.27%
Woodside Petroleum Ltd (ASX: WPL)	$20.73	5.82%
Chalice Mining Ltd (ASX: CHN)	$7.42	5.70%
Oil Search Ltd (ASX: OSH)	$3.925	4.95%
Santos Ltd (ASX: STO)	$6.46	4.70%
CSR Ltd (ASX: CSR)	$5.865	4.55%
AGL Energy Ltd (ASX: AGL)	$6.32	4.12%
Orocobre Ltd (ASX: ORE)	$9.52	3.37%
Eagers Automotive Ltd (ASX: APE)	$15.96	3.30%

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

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

More reading

• Here are the 3 most heavily traded ASX 200 shares so far today
• Why the Woodside (ASX:WPL) share price is leaping 6% today
• Why Adairs, Beach, Catapult, & Myer shares are charging higher
• The latest ASX 200 mining shares to get hit by broker downgrade
• Which ASX 300 shares are the biggest winners and losers today?

Motley Fool contributor Mitchell Lawler owns shares of CSR Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Altium. The Motley Fool Australia owns shares of and has recommended Altium. 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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Looking for some small cap shares to add to your watchlist? Then have a look at the ones listed below.

Here’s why they could be worth getting better acquainted with:

Bigtincan Holdings Ltd (ASX: BTH)

The first small cap to watch is Bigtincan. It is a provider of enterprise mobility software that allows sales and service organisations to improve mobile worker productivity through smart devices. It has a number of blue chip clients such as Australia and New Zealand Banking Group (ASX: ANZ) and sports giant Nike.

ELMO Software Ltd (ASX: ELO)

ELMO is a cloud-based human resources and payroll software company. It provides a unified platform to streamline processes for employee administration, recruitment, on-boarding, learning, performance, remuneration, compliance training and payroll. ELMO has been a strong performer in recent years and looks well-placed in the future. This is due to acquisitions and favourable industry tailwinds.

Opthea Ltd (ASX: OPT)

Another small cap to look at is Opthea. It is a developer of novel biologic therapies for the treatment of eye diseases. The key product in its portfolio is the OPT-302 combination therapy. This therapy is targeting wet age-related macular degeneration and has previously achieved very promising study results. The current standard of care treatments for wet age-related macular degeneration has annual sales of over US$3.7 billion.

Serko Ltd (ASX: SKO)

Serko is an online travel booking and expense management provider. It could be a small cap share to watch due to the quality of its products and their significant market opportunities. Another positive is that it recently signed a deal with travel booking giant Booking.com. This has the potential to be a game-changer over the coming years.

The post 4 small cap ASX shares to watch appeared first on The Motley Fool Australia.

More reading

• 3 stellar small cap ASX shares for your watchlist this month
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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 shares of and has recommended BIGTINCAN FPO, Elmo Software, and Serko Ltd. The Motley Fool Australia owns shares of and has recommended BIGTINCAN FPO and Elmo Software. The Motley Fool Australia has recommended Serko 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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The Nexus Minerals Ltd (ASX: NXM) share price has continued its remarkable run and is soaring again on Tuesday.

At the time of writing, the gold explorer’s shares are up 34% to a record high of 39.5 cents.

This means the Nexus Minerals share price is now up 340% in the space of a month.

Why is the Nexus Minerals share price racing higher?

Investors have been bidding the Nexus Minerals share price higher in recent weeks following the release of several drilling updates.

The most recent came last week when the company revealed a significant gold discovery at its Wallbrook Gold Project in the eastern goldfields of Western Australia.

According to the release, Nexus Minerals achieved high-grade assay results from 13 reverse circulation (RC) holes drilled at the Templar Prospect within the Wallbrook Project.

Nexus’ Managing Director, Andy Tudor, commented: “These broad high grade results received from Templar occur in the same altered and mineralised rocks we see at the Crusader prospect, 1.2km to the south. This has effectively linked the two prospects together into one large mineralised system. Nexus is the first company to drill the Templar prospect and we are very proud of the work our exploration team has contributed leading to this discovery.”

What’s next for the company?

More drilling is on the way for Nexus Minerals. It advised that future drill programs at Templar will test for depth extensions to the mineralisation.

The drilling will also test for further strike extensions to the Crusader/Templar mineralised corridor that currently extends over 1.6km of strike and is constrained only by the extent of drilling completed by the company to date.

Based on the current Nexus Minerals share price and its share count, the gold explorer has a market capitalisation of just under $100 million. Time will tell whether it has a mineral resource that backs up this valuation.

The post The Nexus Minerals (ASX:NXM) share price is up 34% today and 340% in a month appeared first on The Motley Fool Australia.

More reading

• Nexus Minerals (ASX:NXM) share price soars 47% on new gold intercepts

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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Former chair of Vocus Group Ltd (ASX: VOC), Vaughan Bowen, has appeared in court accused of selling about $25.7 million in shares while possessing inside information.

He appeared with legal representation at the Melbourne Magistrates’ Court on Tuesday charged with 2 counts of insider trading.

According to the Australian Securities and Investments Commission (ASIC), the allegations relate to Bowen’s dumping of 5,617,554 Vocus shares on 4 June 2019.

In an unremarkable trading session, the telco’s stock opened at $4.56 and closed at $4.58 that day.

But the next day all hell broke loose after talks for EQT Infrastructure IV Fund to entirely acquire Vocus were revealed to have broken down.

The share price finished 5 June 2019 at $3.77 which represented a 17.7% plunge for the day.

$4.5 million saved after alleged illegal insider trade

Bowen would have cashed in about $25.7 million on 4 June 2019. 

ASIC accuses Bowen of knowing that the takeover discussions were terminated when he disposed of those shares.

Selling on 4 June rather than on 5 June, after the public knew of the development, would have saved Bowen about $4.5 million.

Insider trading charges can attract a maximum penalty of 15 years in prison.

Bowen stepped down as chair in March 2018, which was well before the alleged insider trading occurred.

ASIC did not disclose how Bowen would have come across the inside information.

The case has been listed for a committal hearing on 7 December in the Magistrates’ Court of Victoria.

Vocus was delisted from the ASX on 23 July this year after it was eventually acquired by a consortium known as Voyage Australia Pty Limited.

The post Ex-chair faces 15 years’ jail, accused of ASX insider trading appeared first on The Motley Fool Australia.

More reading

• Why has the ASX (ASX:ASX) share price slumped 6% in 3 weeks?
• Here are the 3 most heavily traded ASX 200 shares so far today
• Appen (ASX:APX) share price dips lower despite positive announcement
• The Newcrest Mining (ASX:NCM) share price is down 4% since reporting
• Why Australian Ethical, Brambles, Novonix, & Zip shares are tumbling lower

Motley Fool contributor Tony Yoo 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 ASX Ltd (ASX: ASX) share price has had a tough run lately despite the company’s silence.

The ASX share price has fallen a significant 6% over the last 3 weeks.

While the stock exchange operator hasn’t posted any price-sensitive news in nearly a month, there have been a couple of happenings that could have impacted its share price.

Right now, the ASX share price is $83.16, 2.33% higher than its previous close.

Let’s take a closer look at what might have been driving ASX’s shares lower recently.

What might be driving ASX on the ASX?

The ASX share price has had a rough trot these last few weeks, even as the company hasn’t posted news since mid-August.

However, ASX’s ex-dividend date was passed on 6 September. That means that an investor needed to have the company’s shares in their portfolio before that date to receive a dividend.

As the company’s final dividend for financial year 2021 was worth $1.112, it makes sense the market saw the value of ASX’s stock drop by that amount from the ex-dividend date.

In fact, the ASX share price fell by $1.58 on its most recent ex-dividend date.

Additionally, the company’s share price might be recovering from the notable climb that followed the release of its financial year 2021 results. Over the 3 days following the release of ASX’s financial year 2021 earnings, the company’s shares gained 8%.

The poor 3 week’s performance might be representative of the market’s excitement surrounding ASX’s earnings dwindling.

Further, the last few weeks haven’t been great for the broader market. The S&P/ASX 200 Index (ASX: XJO) has fallen 0.7% over the last 3 weeks. While the All Ordinaries Index (ASX: XAO) is down 0.3%.

This means, no matter what’s caused its slump, ASX’s stock isn’t alone in its recent struggles.

ASX share price snapshot

Despite ASX’s stock’s recent slump, it’s still having a good year on the ASX.

It is currently 14% higher than it was at the start of 2021. It has also gained 0.7% since this time last year.

The post Why has the ASX (ASX:ASX) share price slumped 6% in 3 weeks? appeared first on The Motley Fool Australia.

More reading

• ASX (ASX:ASX) share price lifts despite ASIC findings on system failure
• ASX (ASX:ASX) share price edges higher on mixed FY21 results
• How did the ASX share price respond last earnings season?

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 S&P/ASX 200 Index (ASX: XJO) is having an… ok day on the markets this Tuesday. At the time of writing, the ASX 200 is up a reasonable 0.19% to 7,439 points.

But let’s now check out some of the most active ASX 200 shares in terms of raw trading volume. Here are the top 3 most traded shares today at the time of writing, according to investing.com.

The 3 most heavily traded ASX 200 shares so far today

Telstra Corporation Ltd (ASX: TLS)

Telstra is our first ASX 200 share to check out today. This Tuesday has seen an impressive 19.77 million shares swap hands so far. Since there is no major news or announcements out of Telstra today, we can probably put this high volume down to the Telstra share price performance.

At the time of wiring, this telco is up a very robust 1.53% to $3.76 a share. This sizable jump is likely to be behind the elevated trading volumes we are seeing with Telstra shares.

Pilbara Minerals Ltd (ASX: PLS)

ASX 200 lithium producer Pilbara is next up here. This Tuesday has seen 23.09 million Pilbara shares changing owners at this point of the day.

As with Telstra, we can probably put this high volume down to the good show Pilbara shares have put on today, rather than anything concrete out of the company. The Pilbara share price has risen a healthy 1.82% so far to $2.24 a share. It’s probable that this is behind the large volume of Pilbara shares trading today.

Oil Search Ltd (ASX: OSH)

ASX 200 energy company Oil Search is our final share today. Oil Search takes the cake for the most traded ASX 200 share so far, with a whopping 23.6 million shares bought and sold today.

Again, we don’t have to look too far to see what’s going on here. Most ASX energy shares are on fire today, spurred upwards by rising crude oil prices. In Oil Search’s case, this has resulted in a healthy 4.81% rise so far to $3.92 a share. It’s almost certain this big jump is responsible for such high trading volume for this company.

The post Here are the 3 most heavily traded ASX 200 shares so far today appeared first on The Motley Fool Australia.

More reading

• Why the Woodside (ASX:WPL) share price is leaping 6% today
• The latest ASX 200 mining shares to get hit by broker downgrade
• Lithium surge, Sydney Airport takeover, ACCC torches Qantas deal. Scott Phillips on Nine’s Late News
• ASX 200 energy shares are leading the market on Tuesday
• The CBA (ASX:CBA) share price is underperforming its big four peers today

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

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The Appen Ltd (ASX: APX) share price is heading south regardless of the company providing a positive update today.

At the time of writing, the artificial intelligence data services provider’s shares are down 0.81% to $9.78. It’s worth noting that its shares hit a multi-year low of $9.58 yesterday, a level not seen since May 2018.

Appen completes acquisition

In a statement to the ASX, Appen advised it has completed the acquisition of leading global location data provider Quadrant.

The latest procurement is expected to expand Appen’s data capabilities and product offering for existing customers. In addition, management hopes it will open the door to new growth opportunities in the global location intelligence market.

Valued at US$11.9 billion, the global location intelligence market is forecast to grow 14% at a compounded annual growth rate (CAGR). This translates to a sector that could be potentially worth US$29.8 billion in 2027, signifying attractive returns for Appen.

The company made an upfront cash payment of US$25 million for the entire share capital of the Quadrant business. However, an additional payment of up to US$20 million is applicable should revenue milestones for 2022 and 2023 be met.

Appen intends to increase its investment in Quadrant’s product and market expansion for the remainder of 2021 and in 2022. While growth is projected to accelerate, Appen’s FY21 underlying earnings before interest, tax, depreciation and amortisation (EBITDA) will be reduced by around US$2 million. This gives Appen a full-year FY21 EBITDA guidance of between US$81 million to US$88 million.

The company is projecting a stronger order book and a weighted second-half revenue skew to finish off the financial year. It noted that this is due to customer delivery schedules for e-commerce, digital ads and search programs.

Appen share price snapshot

Over the past 12 months, Appen shares have fallen from grace to record losses of a mammoth 69%. Year-to-date has not fared any better, registering a drop of around 60%.

The former market darling has been heavily impacted by COVID-19 as its United States-based customers delayed or cancelled project spending.

At today’s price, Appen commands a market capitalisation of roughly $1.2 billion with approximately 123 million shares outstanding.

The post Appen (ASX:APX) share price dips lower despite positive announcement appeared first on The Motley Fool Australia.

More reading

• ASX 200 tech shares are dragging the market on Monday
• Why Appen (ASX:APX) and this ASX growth share could be buys
• Is the Appen (ASX:APX) share price in the buy zone?
• How have ASX technology shares performed during the August 2021 earnings season?
• 2 highly rated ASX growth shares to buy

Motley Fool contributor Aaron Teboneras owns shares of Appen Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Appen Ltd. The Motley Fool Australia owns shares of and has recommended Appen 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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