• Why Ardent Leisure, Blackmores, Clinuvel, & Qube shares are surging higher

    stock market gaining

    In afternoon trade on Friday, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down slightly to 7,486.3 points.

    Four ASX shares that are not letting that hold them back are listed below. Here’s why they are surging higher:

    Ardent Leisure Group Ltd (ASX: ALG)

    The Ardent Leisure share price is up 10% to $1.39. Investors have been buying this entertainment company’s shares since the release of its better than expected full year results. One broker that was particularly pleased with its improving performance was Ord Minnett. This morning its analysts upgraded Ardent Leisure’s shares to a buy rating with a $1.75 price target.

    Blackmores Limited (ASX: BKL)

    The Blackmores share price is up 6% to $97.68. This appears to have been driven by a broker note out of Credit Suisse this morning. According to the note, the broker has upgraded its shares to a buy rating with a $100.00 price target. Credit Suisse notes that Blackmores’ bold medium term growth targets are ahead of its estimates.

    Clinuvel Pharmaceuticals Limited (ASX: CUV)

    The Clinuvel share price has jumped 17% to $34.35. Today’s gain appears to have been driven by the release of a bullish broker note in response to yesterday’s full year results. According to a note out of Jefferies, its analysts have upgraded the biopharmaceutical company’s shares to a buy rating with a $36.80 price target.

    Qube Holdings Ltd (ASX: QUB)

    The Qube share price has climbed 4% to $3.17. This morning analysts at Credit Suisse upgraded the logistics solutions company’s shares to an outperform rating with an improved price target of $3.30. Credit Suisse was pleased with its strong FY 2021 result and believes a major share buyback could be announced with its half year results in FY 2022.

    The post Why Ardent Leisure, Blackmores, Clinuvel, & Qube shares are surging higher appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

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  • Which ASX shares are ending the week as the biggest movers today?

    share price gaining

    The S&P/ASX 300 Index (ASX: XKO) is edging slightly lower today after most company’s wrapped up their earnings season.

    During afternoon trade, the ASX 300 is down 0.11% to 7,461 points.

    Let’s take a look at which ASX companies are sprinting on the ASX 300 chart today.

    Clinuvel Pharmaceuticals Limited (ASX: CUV)

    The Clinuvel share price is rocketing 16.28% to a multi-year high of $34 following an optimistic broker note.

    Multinational investment bank, Jefferies raised its price target for Clinuvel by 27% to a bullish $36.80. It appears its analysts viewed the company’s full-year results in a positive light.

    Based on the current share price, this implies an upside of around 8.2% for investors.

    Blackmores Limited (ASX: BKL)

    The Blackmores share price is also pushing ahead on Friday, up 6.65% to $98.21. The health supplements company also received a broker note by Macquarie following the release of its full-year results yesterday.

    Analysts at Macquarie added 19% to its outlook on Blackmores, valuing its shares at $87.50 apiece. It’s worth noting that this is still a significant downside from the current price, roughly 11%.

    Atlas Arteria Group (ASX: ALX)

    Another significant mover today is the Atlas Arteria share price, up 6.27% to $6.69. The toll-road developer provided its half-year results yesterday, however, a number of brokers weighed in on the company.

    Swiss investment firm, UBS lifted its rating on Atlas Arteria shares by 19% to $6.85. Morgans has a slightly bearish view, adding just 1.7% to $6.44. And lastly, Macquarie improved its assessment by 4.8% to $6.52.

    And which ASX companies are heading the other way?

    Australian Strategic Materials Ltd (ASX: ASM)

    Deep in negative territory, the Australian Strategic Minerals share price is down a sizeable 16.51% to $11.40. Investors are heading for the hills despite no news coming out of the company.

    A possible catalyst for the sharp fall could be investors deciding to take profit off the table. The rare earth elements miner’s shares have climbed to incredible highs over the past year, up 400%. In August alone, the company’s share price rose 72% to hit a record high of $14 apiece.

    Integral Diagnostics Ltd (ASX: IDX)

    Also being weighed down by investors today is the Integral Diagnostics share price, down 12.96% to $4.70. The company released its full-year results today, highlighting a mostly positive performance.

    However, with the ongoing impacts of COVID-19, the group could not provide revenue or profit guidance for FY22.

    The post Which ASX shares are ending the week as the biggest movers today? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in ASX 300 right now?

    Before you consider ASX 300, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and ASX 300 wasn’t one of them.

    The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    *Returns as of August 16th 2021

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    Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Blackmores Limited. The Motley Fool Australia has recommended Integral Diagnostics 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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  • Massive reason Nuix (ASX:NXL) share price will be in focus on Monday

    Businessman looks with one eye through magnifying glass

    After a rough, rough year, what’s left of Nuix Ltd (ASX: NXL)’s shareholders might have another clanger to endure on Monday.

    To recap, analytics software provider Nuix was the darling float of last year. The shares listed on the ASX in December after selling during the initial public offering for $5.31.

    Growth hype then immediately rocketed the stock, which hit $11.86 in January.

    But then scandal after downgrade after scandal hit the Nuix share price hard. As of Friday afternoon, Nuix shares were going for $2.86.

    Multiple identities involved with the company’s past and present are currently under investigation by authorities.

    Chief executive Rod Vawdrey is due to exit as soon as a replacement is found, and longtime chief financial officer Stephen Doyle was shown the door in June.

    On Monday, the company will report its 2021 financial year result.

    $340 million of Nuix shares can be sold off

    So what else is happening Monday that might further affect the Nuix share price?

    All the insider-held shares that were held in escrow for the float will be released at 4:15pm.

    According to the prospectus, 37.9% of the shares on issue are due to be released from trading restrictions.

    That’s $340 million worth of stock held by Vawdrey, Doyle, and Macquarie Group Ltd (ASX: MQG), among others.

    If they sell, Vawdrey and Doyle will walk away with $4.5 million and $2.4 million respectively.

    Macquarie owns 30% of the company it bought into during its infancy as a privately owned business. The financial giant copped accusations that it had overhyped the IPO, but its defence always has been that it still owns many Nuix shares.

    As of Monday afternoon, it will be free to do what it wants with those shares.

    According to the Australian Financial Review, senator Deborah O’Neill called on the Australian Securities and Investments Commission (ASIC) to freeze the escrow.

    “ASIC must be proactive and act to protect investors and not let those with serious questions to answer to walk away from this scandal with the loot.”

    The Motley Fool has contacted the corporate regulator for comment.

    The Nuix share price is up 4% on Friday afternoon.

    The post Massive reason Nuix (ASX:NXL) share price will be in focus on Monday appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Nuix right now?

    Before you consider Nuix, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Nuix wasn’t one of them.

    The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    *Returns as of August 16th 2021

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    Motley Fool contributor Tony Yoo owns shares of Macquarie Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Nuix Pty Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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  • Here’s why the Pro Medicus (ASX:PME) share price is up 78% this year

    share price rising

    The Pro Medicus Limited (ASX: PME) share price has been on fire in 2021. Shares in the Aussie health imaging IT provider have surged 78% higher this year – more than 12 times the gains in the S&P/ASX 200 Index (ASX: XJO).

    Here’s why the Aussie healthcare technology company is surging higher this year.

    Why the Pro Medicus share price is up 78% in 2021

    Pro Medicus provides medical imaging software and services to a range of healthcare groups around the world. The healthcare informatics group has been steadily building in recent times and 2021 has proven to be a real breakout year.

    It all started back in mid-January 2021. The Pro Medicus share price rocketed more than 38% in the space of one week after announcing a record-breaking deal with US-based healthcare group, Intermountain.

    The deal, worth $40 million, was the latest in a string of deals with major US hospitals. Shares in the Aussie medical technology group soared on the news as Pro Medicus executed on its strategy to expand its US footprint.

    Despite somewhat stagnating in Q2 2020, the Pro Medicus share price has been steadily climbing since May. Steady gains have been supported by new contract signings including an 8-year, $14 million deal with The University of Vermont.

    The healthcare technology share is up 54.5% since 12 May after another strong surge after its recent FY21 results.

    Pro Medicus reported a 19.5% jump in revenue to $67.9 million with underlying net profit after tax up 33.7% on FY20 to $42.6 million. The company also announced an 8 cents per share final dividend for shareholders after announcing a record number of new contracts during the year.

    The Pro Medicus share price rocketed 15.7% higher following the release of its results. Despite dipping in Friday’s trade, shares in the healthcare imaging group remain up more than 78% for the year.

    The post Here’s why the Pro Medicus (ASX:PME) share price is up 78% this year appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Pro Medicus right now?

    Before you consider Pro Medicus, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Pro Medicus wasn’t one of them.

    The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    *Returns as of August 16th 2021

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    Motley Fool contributor Ken Hall 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 Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus 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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  • Why the Jumbo Interactive (ASX:JIN) share price has plunged 17% in 2 days

    Man shouts at mobile phone with a closed fist

    The Jumbo Interactive Ltd (ASX: JIN) share price has spent the last two trading days firmly in the red.

    In afternoon trade today, Jumbo shares are down 8.53% to $15.02. They also lost 8.5% yesterday, the same day the company reported its FY21 full-year results.

    So what’s behind these latest moves for the Jumbo Interactive share price? Let’s dive in a little deeper to gain some insight.

    A quick refresher on Jumbo Interactive

    Jumbo Interactive is in the lottery business and has operations in Australia and Germany. It is recognised as a pioneer in Australian e-commerce after establishing one of the world’s first online shopping outlets.

    Jumbo’s flagship service is Oz Lotteries, which is often abbreviated as Oz Lotto. This service has a turnover of more than $150 million in lottery ticket sales annually.

    At the time of writing, Jumbo Interactive has a market capitalisation of $1.02 billion.

    What’s pushing the Jumbo Interactive share price lower?

    Shares in the digital lottery business are on the decline despite the company reporting a robust financial performance in its FY21 earnings on Thursday.

    In its report, Jumbo recognised a 37% increase in total transaction value (TTV) to reach $487 million. As a result, revenue also gained 17% year-on-year and underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA)  grew 13% to just shy of $50 million.

    This came through to net profit after tax (NPAT) of $28 million, a 7% increase from the year prior. In addition, the company also reported a total FY21 dividend of 36.5 cents per share.

    Jumbo also announced its full acquisition of Stride Management Inc on 26 August, which saw the company pay $11.7 million in available cash on its balance sheet. The transaction gives Jumbo a “strategic foothold” in the Canadian charity lottery market, which it says has “significant growth potential”.

    The transaction finalised on a net profit before tax (NBPT) multiple of 4.8 times, “based on forecast performance” for FY21.

    Despite these seemingly positive points to the Jumbo Interactive share price, investors appear less than impressed by the lottery giant’s progress.

    Jumbo shares have sunk 17% over the last two days from the closing price of $18.28 on 25 August. The last time the Jumbo share price was at these levels was back in mid-June.

    There is no market-sensitive information out of the company today. Therefore, it stands to reason that investors may be selling Jumbo Interactive shares on the back of its FY21 earnings report and/or the acquisition announcement.

    Jumbo Interactive share price snapshot

    The Jumbo Interactive share price has had a choppy year to date, posting a return of just 8% since January 1.

    Jumbo shares have also gained 15% over the last 12 months, and are 7% in the red over the last month.

    These returns have lagged the S&P/ASX 200 index (ASX: XJO)’s return of about 25% over the past year.

    The post Why the Jumbo Interactive (ASX:JIN) share price has plunged 17% in 2 days appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Jumbo Interactive right now?

    Before you consider Jumbo Interactive, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Jumbo Interactive wasn’t one of them.

    The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    *Returns as of August 16th 2021

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    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 Jumbo Interactive Limited. The Motley Fool Australia owns shares of and has recommended Jumbo Interactive 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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  • Why did the Splitit (ASX:SPT) share price just hit its 52-week low?

    share price dropping

    The Splitit Ltd (ASX: SPT) share price has continued its fall from grace today, losing another 3.12% at the time of writing to slide to 46 cents a share. That equals the company’s 52-week low.

    So what’s gone so wrong for this former ASX high flyer?

    After all, this is a company with a 52-week range of 46 cents and $1.93 a share. This means that in the space of under a year, Splitit has fallen more than 75%. That of course came after the Splitit share price rocketed more than 600% last year between March and August.

    Splitit share price: good year gone bad

    Well, Splitit’s recent woes seem to start with the company’s full-year earnings report for 2020 that was delivered back in February of this year. This company posted a 300% increase in gross revenues to US$8.4 million, as well as a 179% rise in Merchant Sales Volume (MSV) to US$246 million. However, it also widened its losses to US$25.47 million after posting a loss of US$21.47 million the previous year.

    Splitit shares fell heavily as a result (4% on the day) and kept on falling.

    By the time that Splitit updated the markets with a fourth quarter report in April, the shares were down almost 30%. And this quarterly report didn’t help Splitit either. The company told investors that it’s quarter-on-quarter revenues and MSV had actually fallen. In the week following the release of this report, the company gave up another 13% of its value.

    There was a similar reaction to Splitit’s July quarterly update too.

    Boost from Afterpay’s Square deal fades

    The blockbuster announcement that Splitit’s fellow buy now, pay later (BNPL) provider Afterpay Ltd (ASX: APT) would be acquired by the US payments giant Square Inc (NYSE: SQ) earlier this month gave the Splitit share price a bit of a boost though.

    Between 30 July (the last trading day before the announcement) and 4 August, Splitit shares rose a whopping 40% to 64 cents a share. This was probably on the back of hopes that Splitit itself might be a future M&A target. However, the weeks since seem to have dimmed that hope. Since 4 August, the Splitit share price has given up close to 30%.

    And that brings us to today, as Splitit shares hit their 52-week low.

    Who knows what the future might hold for this now embattled BNPL company. Perhaps we will have to wait until the company’s annual general meeting on 15 October to get another meaningful update as to how the company is faring.

    At the current Splitit share price of 46 cents a share, the company has a market capitalisation of $223.77 million.

    The post Why did the Splitit (ASX:SPT) share price just hit its 52-week low? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Splitit right now?

    Before you consider Splitit, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Splitit wasn’t one of them.

    The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    *Returns as of August 16th 2021

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    Motley Fool contributor Sebastian Bowen owns shares of Square. 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.

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  • Why the Aldoro (ASX:ARN) share price is rocketing 26% today

    investor wearing a hard hat looking excitedly at a mobile phone representing rising boral share price

    The Aldoro Resources Ltd (ASX: ARN) share price is off to the races today, up 25.88% to 54 cents in early afternoon trading.

    Below we take a look at the ASX resource explorer’s mineral results that look to be driving investor interest.

    What did Aldoro report?

    Aldoro’s share price is soaring after the company reported it may have uncovered “world class” rubidium potential at its Niobe Project in Western Australia.

    The company said it had re-evaluated the Niobe Project, which has been mined for tantalum, with historical rubidium oxide (Rb2O) of up to 1.09% analysed from reverse circulation (RC) drill holes conducted in the mid-1980s.

    According to the release, the exploration target of approximately 33,000-150,000 tonnes held grades ranging 696-1,457 parts per million (ppm) rubidium oxide (Rb2O) over an area of 80 metres by 65 metres of detailed historical drilling.

    The Aldoro share price could also be getting a boost with the report that this area is less than half the total mapped section of the Niobe pegmatite, with the rest as yet untested.

    Management commentary

    Commenting on the results, Aldoro chairman Joshua Letcher noted:

    It seems that the potential resources of the Niobe Rb project of Aldoro Resources Limited may be in the same order with the Tiantongshan rubidium deposit with analyses of Rb2O>1.5% and is associated with other valuable elements, such as lithium, caesium and tantalum.

    Letcher was referring to the Tiantongshan rubidium deposit discovered in China’s Guangdong province in 2019. According to Letcher, that had Rb20 resources of more than “100,000 tonnes at the average grade 0.109% Rb2O … the biggest Rb deposit in the world”.

    Aldoro noted that its Niobe prospect rubidium potential was approximate and at this time remained “conceptual in nature”. It is uncertain if future exploration will result in the estimation of a mineral resource.

    Pending the approval of a works program, Aldoro intends to start drilling at its Niobe Project in late September.

    Aldoro share price snapshot

    Over the past 12 months, the Aldoro share price has gained 568% compared to a gain of 23% posted by the All Ordinaries Index (ASX: XAO).

    Year-to-date, Aldoro’s share price has continued to charge higher, up 256% in 2021.

    The post Why the Aldoro (ASX:ARN) share price is rocketing 26% today appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Aldoro right now?

    Before you consider Aldoro, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Aldoro wasn’t one of them.

    The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    *Returns as of August 16th 2021

    More reading

    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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  • What’s going on with the Kuniko (ASX:KNI) share price?

    surprised asx investor appearing incredulous at hearing asx share price

    It has been another eventful day for the Kuniko Ltd (ASX: KNI) share price on Friday.

    At one stage today, the battery metals explorer’s shares were down as much as 29% to $1.55.

    But just 90 minutes later the Kuniko share price was up 22% for the day at $2.65.

    What’s going on with the Kuniko share price?

    The Kuniko share price has been heavily traded this week since landing on the ASX boards on Tuesday. This follows its spin off from clean lithium developer Vulcan Energy Resources Ltd (ASX: VUL) with a listing price of just 20 cents.

    While the company’s shares took off on day one, there was particularly strong interest in them on Thursday. This was due to the release of an update that got investors excited about its future prospects.

    That release reveals that Kuniko has now kicked off geochemical sampling programs with a significant schedule of activity across its projects in Norway.

    What is Kuniko exploring?

    The Norway based battery metals explorer is targeting three fundamental metals for electromobility: Cobalt, Nickel and Copper. It is doing this at a suite of historical producing battery metals projects, with minimal previous modern exploration.

    And much like former parent Vulcan Energy, the company’s extraction and production processes will aim to be carbon neutral and work in harmony with the environment. This is by harnessing the region’s natural energy.

    The company notes that Europe will require a large volume of battery metals to support the >800 GWh battery manufacturing capacity required by 2030 to supply the electric vehicle market.

    Per annum, this equates to approximately 160,000 tonnes of cobalt, 500,000 tonnes of nickel and 1,300,000 tonnes of copper. Kuniko believes it has an advantage by being ESG compliant and meeting EU regulations.

    What else is happening?

    Due to the incredible rise in the Kuniko share price since listing, it was dealt a speeding ticket by the Australian share market. It also prompted a report in the AFR claiming that Kuniko shares are being pumped and dumped by stock promoters.

    And while the company has acknowledged that it has appointed online investor relations company S3 Consortium, it stated that “it has no relationship whatsoever with the Telegram group [app] referred to in the AFR news article, or any intraday or meme stock promoters.”

    The post What’s going on with the Kuniko (ASX:KNI) share price? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Kuniko right now?

    Before you consider Kuniko, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Kuniko wasn’t one of them.

    The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    *Returns as of August 16th 2021

    More reading

    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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  • Why the Rhinomed (ASX:RNO) share price is rocketing 23% today

    child holds swab and testing cup

    The Rhinomed Ltd (ASX: RNO) share price is racing into uncharted territory today. This comes after the medical device company announced it has completed development of a nasal swab designed for children.

    The news sent Rhinomed shares flying to an all-time high of 46.5 cents. However, some profit-taking has forced a pullback to 39.5 cents, up 23.44% at the time of writing.

    What’s driving the Rhinomed share price higher?

    Investors are scrambling to pick up Rhinomed shares following the positive news from the company.

    According to its release, Rhinomed has created the “Rhinoswab Junior”, a world-first alternative method for testing children.

    Designed to deliver the same benefits as the existing Rhinoswab, the new product has several novel child-friendly features. This is aimed at reducing fear, anxiety, and trauma associated with the use of existing nasal swabs on the market.

    Rhinomed highlighted that it has received Human Research Ethics Committee (HREC) approval to commence a clinical trial at The Royal Children’s Hospital in Melbourne.

    The study will investigate the diagnosis of respiratory viruses such as SARS-CoV-2 (COVID-19) in children with Rhinoswab Junior. A collection of nasal samples will be taken from 250 children aged between 4 years and 18 years old. The trial is expected to be conducted for up to 50 days.

    Management commentary

    Commenting on the news pushing the Rhinomed share price higher, Rhinomed CEO Michael Johnson said:

    With SARS-CoV-2 testing now part of our everyday lives, we need easier, more standardised and comfortable sample collection methods to encourage people to get tested.

    Testing rates in children remain low due, in no small part to the levels of distress, anxiety and fear children experience when being tested with a standard swab. We have sought to develop a swab that not only works better, but actually removes this fear, anxiety and distress.

    Principal investigator Dr Shidan Tosif added:

    Rhinoswab Junior has the potential to turn an otherwise unpleasant experience into a far more relaxed and possibly even fun experience for children. The ability of the child to control the insertion of the device, coupled with the comfort and novelty of the Rhinoswab design, offers major improvements in the user experience.

    The Rhinomed share price has gained almost 400% over the last 12 months, and more than 140% year to date.

    The post Why the Rhinomed (ASX:RNO) share price is rocketing 23% today appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Rhinomed right now?

    Before you consider Rhinomed, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Rhinomed wasn’t one of them.

    The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    *Returns as of August 16th 2021

    More reading

    Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned.

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  • Pilbara Minerals (ASX:PLS) share price slides 7% after selloff in lithium sector

    A sad miner holds his head in his hands

    The Pilbara Minerals Ltd (ASX: PLS) share price is sinking today, falling 7.67% to $2.04 in afternoon trade.

    This comes after the company released its FY21 full-year results after the market close yesterday.

    Wasn’t it supposed to be a great year for lithium?

    FY21 has seen a major turnaround for the lithium sector, underpinned by an improvement in lithium spot prices and an uplift in demand for raw materials.

    Pilbara Minerals highlighted a significant increase in demand from customers during the second half of the year. This supported a total FY21 spodumene concentrate shipment of 281,440 dry metric tonnes (dmt) (compared to 90,768 dmt in FY20).

    The increase in shipments and higher spot prices doubled revenues from $81.4 million in FY20 to $175.82 million.

    The uplift in demand enabled better utilisation of its processing plant. In addition, Pilbara Minerals also completed several key process plant improvements which helped increase feed, utilisation, and lithium recoveries.

    Despite the strong operational and top-line performance, Pilbara Minerals recorded a $51.4 million loss (FY20: $99.3 million loss).

    Looking ahead, Pilbara Minerals forecasted a spodumene concentrate production of 460,000 to 510,000 dmt and shipments of 440,000 to 490,000 dmt.

    Despite a solid operational performance and production outlook, the Pilbara Minerals share price has pulled back sharply on Friday.

    Broader lithium sector selloff

    The Pilbara Minerals share price is swimming against the tide today, following a broader selloff for the ASX lithium sector.

    Large-cap peers such as Orocobre Limited (ASX: ORE), Mineral Resources Limited (ASX: MIN) and Vulcan Energy Resources Ltd (ASX: VUL) have tumbled 5.53%, 0.95%, and 4.49% respectively.

    Emerging players are also feeling the selling pressure with names such as Piedmont Lithium Inc (ASX: PLL) and Charger Metals NL (ASX: CHR) down a respective 3.92% and 2.86%.

    Pilbara Minerals share price snapshot

    The Pilbara Minerals share price is up 136% year-to-date.

    The company’s shares have topped out this month, down 15% from their 11 August all-time high of $2.46.

    The post Pilbara Minerals (ASX:PLS) share price slides 7% after selloff in lithium sector appeared first on The Motley Fool Australia.

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    Motley Fool contributor Kerry Sun owns shares of Vulcan Energy Resources 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 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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