It certainly has been a brutal day for the S&P/ASX 200 Index (ASX: XJO) and the wider share market.

The benchmark index has just closed the day down a sizeable 1.9% at 7,369.5 points.

In light of this, investors may be wondering why the ASX share market is down today.

Why is the ASX share market down today?

Investors have been selling shares indiscriminately, with every single ASX share market sector in the red on Thursday.

However, the declines have been heaviest among the communications, energy, financials, materials, and technology sectors. This has seen the likes of Afterpay Ltd (ASX: APT), Commonwealth Bank of Australia (ASX: CBA), Origin Energy Ltd (ASX: ORG), Orocobre Limited (ASX: ORE), and Virgin Money UK CDI (ASX: VUK) all record larger declines than most.

The latter two shares were the worst performers on the ASX 200 on Thursday. The Virgin Money UK share price fell 8% and the Orocobre share price lost 6% of its value.

The best performing area of the market was the consumer staples sector. Albeit with a decline of 0.75% for that day.

The catalyst for the ASX share market weakness appears to have been a combination of a poor night of trade on Wall Street, a pullback in commodity prices, and the expectation of another decline in the United States tonight.

In respect to the latter, according to CNBC, futures contracts are currently pointing to the Dow Jones opening the session 0.4% lower and the Nasdaq opening down 0.3%.

What else could be weighing on the market?

Also potentially weighing on the ASX share market has been profit taking.

For example, the two worst performing ASX 200 shares today are among the best performers in 2021.

In fact, even after today’s decline the Orocobre share price is up 88% this year and the Virgin Money UK share price is up 53%.

While today’s decline has been a bit of a mystery, one thing is for sure. That is that investors will no doubt be hoping for a big rebound on Friday.

The post Why is the ASX share market down today? appeared first on The Motley Fool Australia.

More reading

• Tech shares leading ASX 200 (ASX:XJO) losses on Thursday
• Which ASX 300 shares are making headlines on Thursday?
• Is the party only just getting started for ASX lithium shares?
• The Macquarie (ASX:MQG) share price has gained 3 times that of CBA over 5 years
• ASX 200 (ASX:XJO) midday update: Tech shares fall, Fortescue upgraded

Motley Fool contributor James Mickleboro owns shares of Orocobre Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Most weeks, Commonwealth Bank of Australia‘s (ASX: CBA) brokerage platform CommSec releases the most popular international shares (which are almost always US shares) that its Aussie users were trading over the previous week.

CommSec is one of the most popular brokers in the country. As such, this information gives us a useful insight into the US shares ASX investors are currently finding interesting.

So here are the top 10 US shares from CommSec last week. This week’s data covers 30 August to September 3.

Tesla back on top

1. Tesla Inc (NASDAQ: TSLA) – representing 3.2% of total trades with a 57%/43% buy-to-sell ratio.
2. Alibaba Group Holding Ltd (NYSE: BABA) – representing 2.8% of total trades with an 84%/16% buy-to-sell ratio.
3. Apple Inc (NASDAQ: AAPL) – representing 2.5% of total trades with a 71%/29 buy-to-sell ratio.
4. GameStop Corp (NYSE: GME) – representing 2.2% of total trades with an 82%/18% buy-to-sell ratio.
5. Microsoft Corporation (NASDAQ: MSFT) – representing 1.4% of total trades with an 85%/15% buy-to-sell ratio.
6. NVIDIA Corporation (NASDAQ: NVDA)
7. Zoom Video Communications Inc (NASDAQ: ZM)
8. Alphabet Inc Class C (NASDAQ: GOOG)
9. Amazon.com, Inc. (NASDAQ: AMZN)
10. Lucid Group Inc (NASDAQ: LCID)

What can we learn from these trades?

Last week, we discussed the emergence of Chinese e-commerce giant Alibaba into the top spot on this list. Well, this week, Alibaba is still popular, but it’s the Elon Musk-headed electric battery and vehicle manufacturer Tesla that takes out the top spot. Although saying that, investors appear pretty divided on what to do with their Tesla shares, seeing as the buy/sell ratio was at 57%/43%.

Tesla has been climbing in recent weeks, going from around US$665 on 17 August to US$753.87 as of last night (up 13.2%). Perhaps some investors are taking some profits off the table here.

But Alibaba is still in the number 2 spot this week and has a far more enthusiastic buy/sell ratio at 84%/16%. The Alibaba share price has continued to fall in recent weeks after a disappointing year in 2021 so far. The company hit a new 52-week low around a fortnight ago, so this might have tempted some bargain hunters to come out of the woodwork.

In other news, we still see sustained demand for the big US tech blue chips like Apple, Microsoft, Amazon, and Alphabet.

Zoom is an interesting addition though. This company has also taken a hit in recent weeks and is down more than 15% since last Monday (30 August). Clearly, we also see some bargain hunting going on here, judging by Zoom’s 72%/28% buy/sell ratio.

And finally, we still see an appetite for the ‘meme stocks’ like GameStop and Lucid Group. Some 82% of trades were buys with GameStop, so there must still be some appetite for the kind of ‘pops’ this company has now become known for.

The post Here were the most popular US shares for ASX investors last week appeared first on The Motley Fool Australia.

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• Leading broker reveals why these 10 big-name shares have been firing up its clients
• Self-driving cars are here and the leaders may surprise you
• How to invest in Microsoft for less than the cost of “NBA 2K22”

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, 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. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen owns shares of Alphabet (A shares), Tesla, and Zoom Video Communications. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Alibaba Group Holding Ltd., Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Microsoft, Nvidia, Tesla, and Zoom Video Communications. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2022 $1,920 calls on Amazon, long March 2023 $120 calls on Apple, short January 2022 $1,940 calls on Amazon, and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Nvidia, and Zoom Video Communications. 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 Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) share price hit a new all-time high today. The record comes after the Australian Financial Review (AFR) reported the company was considering spinning off its copper-based subsidiary onto the ASX.

At the time of writing, shares in the investment house are down 1.05% trading at $37.83 after hitting an intraday and all-time high of $38.84.

Today’s milestone for the Soul Patts share price comes amid a disappointing day on the market overall. The S&P/ASX 200 Index (ASX: XJO) is currently down a mammoth 1.97%.

Let’s take a closer look at the news.

Soul Patts copper spin-off

According to the AFR report, which came after markets closed yesterday, Soul Patts is “advancing plans” for an initial public offering (IPO) of its wholly-owned subsidiary Round Oak Metals.

Round Oak is a predominately copper focused company with operating mines in Queensland and Western Australia, as well as non-operating growth projects in Victoria and Queensland.

Apparently, Soul Patts is planning to hold onto a large number of shares in the company, just like it does in Brickworks Limited (ASX: BKW) and New Hope Corporation Limited (ASX: NHC).

This comes amid a surging copper price – up 20.4% in 2021 so far. As of writing, the red metal is trading for US $4.24 per pound on the open market.

The website Trading Economics says constrained supply and increasing demand has seen the price of copper rise in recent months. One reason for rising copper demand is surging production in green technology. Copper is essential in the manufacture of such products.

In its half-year results, Soul Patts reported that Round Oak contributed about $12.8 million to the group’s profits. In the prior corresponding period (pcp), the business lost $37.3 million.

The company advised that revenue was up 95% to $145.9 million, largely driven by higher sales volumes, strengthened commodity prices and improved zinc smelter treatment changes. The AFR says the company should make around $64 million for the full-year.

Soul Patts share price snapshot

Over the past 12 months, the Soul Patts share price has increased an astonishing 81.7%. That’s 56 percentage points greater than the ASX 200. Year-to-date, Soul Patts’ value has appreciated 25.1% – 15 percentage points better than the benchmark index.

Washington Soul Pattinson has a market capitalisation of approximately $9.2 billion.

The post Soul Patts (ASX:SOL) share price hits record high amid copper spin-off rumours appeared first on The Motley Fool Australia.

More reading

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• Which ASX shares are making a move on the ASX 300?
• Fortescue’s big fall, job ad numbers disappoint and rates in focus. Scott Phillips on Nine’s Late News
• 2 ASX dividend shares that could provide growing income in retirement
• ASX 200 edges higher, Soul Patts (ASX:SOL) falls, Hansen (ASX:HSN) declines

Motley Fool contributor Marc Sidarous has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Brickworks and Washington H. Soul Pattinson and Company 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 Oil Search Ltd (ASX: OSH) share price is slipping during late afternoon trade after a market release earlier today.

At the time of writing, the energy giant’s shares are trading 2.40% lower to $3.66 apiece. This means that over the past month, its shares have dropped close to 8% following declining oil prices due to Hurricane Ida in the United States.

What did Oil Search announce?

According to today’s release, Oil Search advised it has signed documentation for a new US$565 million non-amortising revolving credit facility.

The company refinanced through a banking group made up of banks from Papua New Guinea, Australia, Asia, and the United States. The credit facility has an expiry date of 31 December 2026.

This will replace the previous $600 million line of credit that was set to expire in June 2022.

Oil Search vice president of treasury Chelsea McGregor commented:

We are pleased to see support from both existing and new relationship banks, which signals their recognition that Papua New Guinea continues to be an attractive country to invest in.

The new facility extends the Group’s weighted average debt maturity profile, maintains liquidity above US$1 billion and is a key component of Oil Search’s capital management strategy for the next five years.

Recently, Oil Search provided an update in regards to the proposed merger with Santos Ltd (ASX: STO). The company extended the due diligence period for another week until 13 September.

The offer put forward consists of Oil Search shareholders receiving 0.6275 new Santos shares for each Oil Search share held.

If the deal goes ahead, Santos and Oil Search will become the largest oil and gas company on the ASX.

Oil Search share price summary

Since this time last year, Oil Search shares have gained more than 20%, but are relatively flat year-to-date. The company’s share price has moved sideways for most of 2021, amid uncertainty in the global economic recovery.

Based on today’s price, Oil Search commands a market capitalisation of roughly $7.6 billion, and has 2 billion shares outstanding.

The post Oil Search (ASX: OSH) share price falters after market update appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Thursday
• Here are the 3 heaviest trading ASX 200 shares today
• Santos (ASX:STO) share price slides despite latest clean energy spruik
• Afterpay’s done, so here’s the BNPL player we’re backing: expert
• ASX 200 energy shares fell today – here’s why

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 S&P/ASX 200 Index (ASX: XJO) has tumbled 1.68% in late afternoon trade to a 1-month low of 7,383.

The tech sector is taking the brunt of today’s selloff, with the S&P/ASX Information Technology (INDEXASX: XIJ) index down 2.61%.

Thursday’s largest tech losers

Megaport Ltd (ASX: MP1) is leading today’s selloff, down 4.36% to $16.50.

Not far behind include ASX 200 tech heavyweights Xero Limited (ASX: XRO), Seek Limited (ASX: SEK) and Carsales.Com Ltd (ASX: CAR) sliding 4%, 3.90% and 3.50% respectively.

The BNPL sector is also crating under today’s selling pressure with Afterpay Ltd (ASX: APT), Zip Co Ltd (ASX: Z1P) and Sezzle Inc (ASX: SZL) down a respective 2.32%, 2.33% and 0.91%.

What’s driving the ASX 200 lower?

The ASX 200 has taken off after Wall Street following more signs of a slowing US economy.

According to CNBC, the US Federal Reserve reported that growth overall had “downshifted slightly to a moderate pace”.

The report said that “The deceleration in economic activity was largely attributable to a pullback in dining out, travel, and tourism in most districts, reflecting safety concerns due to the rise of the delta variant, and, in a few cases, international travel restrictions.”

In addition, CNBC flagged that the Federal Reserve has indicated that it is likely to begin withdrawing some of its stimulus policies before year-end.

Back at home, the commentary from the Reserve Bank of Australia (RBA) is relatively consistent.

In the RBA’s September monetary policy media release, it said that:

The recovery in the Australian economy has, however, been interrupted by the Delta outbreak and the associated restrictions on activity. GDP is expected to decline materially in the September quarter and the unemployment rate will move higher over coming months.

However, unlike the Fed, the RBA plans to keep “very accommodative financial conditions” in place to support the recovery of the Australian economy.

The Board’s decision to extend the bond purchases at $4 billion a week until at least February 2022 reflects the delay in the economic recovery and the increased uncertainty associated with the Delta outbreak.

The post Tech shares leading ASX 200 (ASX:XJO) losses on Thursday appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Tech shares fall, Fortescue upgraded
• 5 things to watch on the ASX 200 on Thursday
• ASX 200 falls, Macquarie jumps, Aussie Broadband climbs
• Here are the 3 heaviest trading ASX 200 shares today
• Here are the top 10 ASX 200 shares on Wednesday

Motley Fool contributor Kerry Sun 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, MEGAPORT FPO, Xero, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO and Xero. The Motley Fool Australia has recommended MEGAPORT FPO, SEEK Limited, and carsales.com Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The past 30 days have been fantastic for the Renascor Resources Ltd (ASX: RNU) share price, following news of an offtake agreement and successful trials.

This time last month, the Renascor share price was 9.2 cents. Right now, it is 13 cents, 4.1% higher than its previous close and 41.3% higher than it was 30 days ago.

Let’s take a closer look at what the graphite, copper, gold, and uranium explorer has been up to of late.

Renascor share price soars 41% in a month

Here’s why the Renascor share price has gained 41% since this time last month:

Over the past 30 days, Renascor has released 2 announcements on its plan to become a supplier of Australian-made and low-cost purified spherical graphite for lithium-ion battery anodes.

The first announcement declared Renascor had signed a memorandum of understanding (MOU) with South Korean conglomerate, POSCO. Under the agreement, POSCO will purchase 20,000 to 30,000 tonnes of Renasor’s purified spherical graphite each year.

The graphite is expected to come from Renascor’s South Australian battery anode material operation.

Included in its agreement with POSCO, Resascor has signed MOUs to supply up to 60,000 tonnes of purified spherical graphite each year.

Its proposed Stage 1 production capacity is around 30,000 tonnes per annum. To fill its remaining requirements, Renascor is undertaking feasibility work to increase its stage 1 production capacity. It is also looking to expand into stage 2. The Renascor share price gained a massive 30% on the back of the news.

Then, days later, the company announced it had successfully completed large scale pilot flotation trials.

The trials were testing the upstream component of Renascor’s planned graphite mine and battery anode material manufacturing operation. Over the course of the trials, 77.8 tonnes of ore from the Siviour deposit were processed into high purity graphite concentrates. Renascor plans to use it as feedstock to produce its purified spherical graphite.

The trials resulted in higher purity graphite concentrates than previous trials had achieved. That suggests there’s potential to improve the purity of the feedstock.

Renascor’s trials also offered strong validation of the flowsheet parameters adopted in its previous locked cycle flotation tests.

The Renascor share price gained 7.6% after the company announced the successful trials.

The post The Renascor Resources (ASX:RNU) share price is up 41% in 30 days appeared first on The Motley Fool Australia.

More reading

• Oil Search (ASX: OSH) share price falters after market update
• Tech shares leading ASX 200 (ASX:XJO) losses on Thursday
• Australasian Gold (ASX:A8G) share price explodes 80% higher before being halted, then resumed
• Thomson Resources (ASX:TMZ) share price jumps 10% on US initiatives
• A closer look at how ASX hydrogen shares are faring in 2021?

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 Australasian Gold Ltd (ASX: A8G) share price has certainly had a day to remember this Thursday. This small-cap gold miner has seen its share price rocket an incredible 80% at one point this morning. That was before the ASX stepped in and halted the company’s shares from trading. A few hours later, trading has now resumed.

But let’s backtrack a little. Australasian Gold is a tiny ASX company by normal standards. It currently has a market capitalisation of just $9.77 million.

This company is in the exploration phase, and has purchase agreements over 274.3sq km of tenements. These include the May Queen and Mt Clermont gold projects in Queensland, and the Fairview gold project in Western Australia.

So what happened to Australasian Gold shares today?

Australasian Gold share price targeted for ‘pump and dump’

Well, Australasian Gold’s shares rocketed on open… on no major news or announcements out of the company. Soon after open, Australasian Gold shares hit a high of 47 cents a share, which represents a rise of roughly 80% from yesterday’s close.

Soon after this, the company’s shares were placed in a trading halt following a ‘speeding ticket’ from the ASX. The ASX sent the company a ‘please explain’ regarding the unusual trading happening this morning. Australasian Gold told investors it wasn’t aware of anything that might have caused this activity.

However, a report from the Australian Financial Review (AFR) today places the blame on an online investor group. Here’s what the report alleges happened:

Members of two organised ASX pump and dump groups using encrypted messaging app Telegram named it [Australasian Gold] as a target… Messages to the group chats in the days prior to the pump signal flagged the morning of September 9 as the target date for an organised pump of a penny stock, which preferably had a price sensitive announcement to evade a quick trading halt from suspicious regulators.

Well, it seems to have worked, at least for a time. although it is worth noting that the group’s apparent aim of evading the ASX regulators didn’t entirely go to plan, given the rather swift trading halt.

But perhaps the group’s potential reasons for targeting Australasian Gold are now more clear. This afternoon, the company has released an investor presentation, albeit not one designated as ‘price sensitive’ by the ASX.

This presentation outlined some results from initial drilling at the company’s three gold projects. Probably nothing that might normally result in the kinds of share price moves we saw this morning though.

At the time of writing, the Australasian Gold share price has resumed trading today, and is currently sitting at 30 cents a share. That’s still up 17.65% for the day, but well below the 47 cents a share peak we saw this morning.

The post Australasian Gold (ASX:A8G) share price explodes 80% higher before being halted, then resumed appeared first on The Motley Fool Australia.

More reading

• Thomson Resources (ASX:TMZ) share price jumps 10% on US initiatives
• A closer look at how ASX hydrogen shares are faring in 2021?
• Camplify (ASX:CHL) share price rallies 20%, up 110% in a month
• Transurban (ASX:TCL) share price slides as WestConnex bid day arrives
• Why the Senex (ASX:SXY) share price is pushing higher today

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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 Thomson Resources Ltd (ASX: TMZ) share price has soared into the green during afternoon trade on Thursday.

Thomson shares are currently up 10% to 11 cents after the company provided an announcement today.

Let’s dive in further to find out why.

What’s happening with Thomson Resources today?

The Thomson Resources share price has been on the move since the company released its corporate presentation “for use at meetings in the USA”.

The report states that Thomson’s executive chairman, David Williams, is currently “in the USA meeting with a number of potential future institutional investors”.

The first round of meetings is due to take place around the Precious Metals Conference, held in Colorado this week.

Thomson then intends to hold additional meetings in the UK and Europe following this round of pitches.

Additonally, the company advised that, “given the growing interest out of the USA in the company”, it has submitted an application to list on the over-the-counter (OTC) markets in the US.

That application is “well advanced”, according to the release.

Throughout its presentation, Thomson covers its business model, key interests in silver and base metals, in addition to its environmental, social, and governance (ESG) initiatives.

One interesting takeout is Thomson’s inference to the “Software as a Service (SaaS)” label, sprouting its own term called “Mining as a Business (MaaB)”.

In any sense, investors have bought the news, and have pushed the Thomson Resources share price higher on the day.

Thomson Resources share price snapshot

Thomson Resources shares have had a difficult year to date, posting a loss of more than 4% since January 1.

Despite this, Thomson shares have still gained 116% over the past 12 months.

This result has outpaced the S&P/ASX 200 index (ASX:XJO)’s return of around 25% over the past year.

The post Thomson Resources (ASX:TMZ) share price jumps 10% on US initiatives appeared first on The Motley Fool Australia.

More reading

• Why the Thomson Resources (ASX:TMZ) share price rocketed 14% higher at lunchtime

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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The ambition for leveraging hydrogen as an alternative energy source remains strong, despite waning enthusiasm in ASX-listed hydrogen shares in recent months.

More recently, Australian governments have committed capital towards a low-carbon future. The New South Wales government is one such example, having already put $70 million towards a hydrogen hub in its Hunter and Illawarra regions.

Last month, multinational energy company BP highlighted a study that indicated the potential for scaled-up green hydrogen in Western Australia. According to the study, the production of green hydrogen and green ammonia using renewable energy at scale in Australia had been deemed technically feasible.

Considering the emerging fundamentals for the energy alternative, now seems like a good time to revisit and review some ASX hydrogen shares.

Catching up on ASX hydrogen shares

Hazer Group Ltd (ASX: HZR)

In the first couple of months of 2021, Hazer Group soared roughly 130% to $1.88 on the back of widespread hydrogen energy excitement. However, shares in the ASX hydrogen player have fallen to the wayside since then. At the time of writing, the Hazer share price is fetching $1.08 and is up 36% year-to-date (YTD).

The small-cap company is making an effort to commercialise a low-emission hydrogen and graphite production method. Currently, the construction of its plant at Water Corporation’s Woodman Point Water Recovery Facility in Western Australia is in progress.

Interestingly, shares in the company entered a trading halt this morning as it seeks to raise $7 million in capital. This is despite its balance sheet comprising of $24.64 million in cash and cash equivalents at the end of the FY21 financial year.

Santos Ltd (ASX: STO)

Although not your typical hydrogen share, Santos is worth a mention. The oil and gas giant — which is attempting to merge with Oil Search Ltd (ASX: OSH) — has shared its interests in hydrogen in the past. In July, the $12.6 billion company revealed it had commenced a concept study on a hydrogen future for the Cooper Basin.

Additionally, CEO Kevin Gallagher has indicated that a successful merger would enable the company to fund its clean energy ventures. These potential ventures could include hydrogen projects at Moomba and Darwin, as part of its 2040 net-zero emissions target.

The Santos share price has fallen 5.8% so far in 2021. It appears investors have been grappling with the Oil Search merger, along with a recent emissions lawsuit.

Province Resources Ltd (ASX: PRL)

Next on the list, Province Resouces is most definitely the highest flyer on this ASX hydrogen share recap. The company is boldly striving to be Australia’s first truly zero-carbon green hydrogen project. This mission has gained strong backing from investors, sending the share price 1,400% higher YTD.

In order to achieve this goal, Province is working on its HyEnergy Zero Carbon Hydrogen Project in the Gascoyne Region. Currently, the $175 million company is plodding along with its scoping study. At the same time, the upcoming hydrogen player has been conducting production price modelling for optimising its initial development.

Another promising sign, the company mentioned in August that it was in discussions with domestic offtake partners. These partners are in the transport and utility sectors. Additionally, Province Resources will be expanding discussions to potential international partners.

The post A closer look at how ASX hydrogen shares are faring in 2021? appeared first on The Motley Fool Australia.

More reading

• Why is the Hazer (ASX:HZR) share price frozen?
• What is the future for the Santos (ASX:STO) share price?
• Santos (ASX:STO) share price slides despite latest clean energy spruik
• 5 things to watch on the ASX 200 on Wednesday
• ASX 200 energy shares fell today – here’s why

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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 Camplify Holdings Ltd (ASX: CHL) share price is flying, up almost 20% in today’s trading session.

Thanks to today’s bullish price action, shares in the caravan-sharing platform have stormed 110% higher in the past month.

Let’s take a look at what’s been fuelling the Camplify share price.

Why is the Camplify share price flying?

There have been several catalysts that have been propelling shares in Camplify higher.

However, the company hasn’t released any price-sensitive news to explain today’s euphoric price-action.

Despite the lack of news, the New South Wales government’s ‘Roadmap to Freedom’ could explain why shares in Camplify are soaring.

The roadmap outlines that once the state passes its 70% double vaccination target, travel restrictions may be eased.

As a result, domestic trips, including trips to regional areas and caravan parks and camping grounds, can open.

Another catalyst that has propelled the Camplify share price higher in the past month was its full-year results for FY21.

How did Camplify perform in FY21?

Despite the impact of COVID-19, Camplify reported strong growth for FY21.

For the full year, the company highlighted that gross-transactional volume (GTV) grew 170% to $32.9 million. In particular, Camplify noted that every market the company operates in saw an increase in GTV.

The Camplify share price has been steadily climbing since the result was announced.

Other highlights of the company’s FY21 report included;

• GTV compound annual growth rate (CAGR) of 103% (FY19 – FY21)
• $8.4m revenue, continuing strong growth
• Revenue CAGR of 129% (FY19 – FY21)
• Take rate increasing to 25.7%

Camplify made special mention of its UK segment, which saw a 523% growth in revenue despite the country being in lockdown for 137 days.

CEO and founder Justin Hales noted;

Camplify is a high-growth company focused on achieving core growth metrics. COVID has been a challenge to the business, however we have accelerated the busines during this period, including a successful ASX listing in June 2021. The company and the board of directors are extremely pleased with the results, and the businesses focus on delivering growth for shareholders.

More on Camplify

Camplify runs a digital platform similar to Airbnb, that allows owners of campervans and motorhomes to rent out their vehicles to others.

It operates in Australia, New Zealand, the UK, and Spain. In addition, Camplify boasts one of the largest RV fleets in Australia with 5400 vehicles on its books. 

Similar to Airbnb, Camplify receives a platform fee for facilitating transactions and generates additional incomes through complementary products.

Since debuting on the exchange in late June, shares in Camplify have doubled.

Earlier today, the Camplify share price hit an all-tie high of $3. At the time of writing, it is trading at $2.92, up $19 on the previous close.

The post Camplify (ASX:CHL) share price rallies 20%, up 110% in a month appeared first on The Motley Fool Australia.

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Motley Fool contributor Nikhil Gangaram 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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