The healthcare sector could be a good place to look for long term investment options. This is due to a number of positive tailwinds that are supportive of growth such as ageing populations and increased cases of chronic disease.

But which ASX 200 healthcare shares should you consider? Here are two that are rated highly:

CSL Limited (ASX: CSL)

The first ASX 200 healthcare share to look at is CSL. It is one of the world’s leading biotherapeutics companies.

It has been an exceptionally positive performer over the last decade due to a number of factors. This includes successful acquisitions, its high level of investment in research and development (R&D) activities, its growing plasma collection network, and increasing demand for its leading therapies and vaccines.

In respect to its therapies, CSL’s portfolio includes lucrative and life-saving products such as Privigen, Hizentra, Idelvion, and Afstyla. And thanks to its almost billion-dollar (and growing) annual investment in R&D, this portfolio will continue to expand in the future.

While the pandemic has hit plasma collections and could lead to elevated costs in the near term, this headwind is only expected to be temporary. In light of this, it could be worth being patient with its shares. UBS currently has a buy rating and $3.30 price target on the company’s shares.

Sonic Healthcare Limited (ASX: SHL)

A second ASX 200 healthcare share to look at is Sonic Healthcare. It is a leading medical diagnostics company with operations across the world.

Sonic certainly has had the wind in its sails over the last 12 months. This led to the company reporting a 33% increase in half year revenue to $4.4 billion and a 166% jump in first half net profit to $678 million in February. Pleasingly, an equally strong second half is expected.

This is being driven largely by strong demand for COVID-19 testing services but also positive performances across the rest of the business.

One broker that is a fan of the company is Credit Suisse. Last month it retained its outperform rating and lifted its price target to $43.50.

It expects demand for its testing services to increase as more transmissible COVID variants spread widely and cause an uptick in infections. It expects this to support strong earnings, allowing Sonic to pay down debt and support potential acquisitions.

The post 2 excellent ASX 200 healthcare shares named as buys appeared first on The Motley Fool Australia.

More reading

• Is it a good time now to buy CSL (ASX:CSL) shares?
• ASX 200 Weekly Wrap: ASX grinds to a halt following new all-time high
• 2 buy-rated ASX 200 dividend shares with attractive yields
• Own CSL (ASX:CSL) shares? Here’s what to look for this reporting season
• 2 ASX 200 shares that keep growing their dividends

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 CSL Ltd. The Motley Fool Australia has recommended Sonic Healthcare 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 Galileo Mining Ltd (ASX: GAL) share price is shooting to a 5-month high during Tuesday trade.

This follows the resources company’s announcement that it has begun a drilling campaign at one of its prospects.

At the time of writing, Galileo shares are up 12.54% to 33.2 cents. The last time the company’s share price reached this level was back in early March 2021.

Galileo commences exploration activities

Investors are snapping up Galileo shares on the news the company has started deep drilling operations.

According to its announcement, Galileo advised that reverse circulation (RC) drilling is underway at its Delta Blues prospect. The site is located within the Fraser Range Nickle Belt in southern Western Australia.

Galileo stated both DB1 and DB2 prospects represent convincing targets with electromagnetic (EM) findings supported by positive results. This includes magnetic, gravity, and aircore drilling data.

The company plans to drill 5 holes for a depth of 1,000 metres to test the top of EM conductors at DB1 and DB2.

Follow-up diamond drilling is expected later in the year, testing the deeper parts of the EM conductors. However, it’s worth noting this is subject to timings and rig availability.

Diamond drilling is a more efficient way for precise sampling and analysis, whereas RC drilling is used for extracting bulk samples. When it comes to speed, RC drilling is the faster method; however, diamond drilling is employed when seeking accurate results.

Galileo managing director Brad Underwood touched on the company’s upcoming drilling program, saying:

We are very excited to have started the first deep drilling campaign at our Delta Blues prospect. The quality of the modelled EM conductors combined with the magnetic and gravity interpretations provide a strong case for potential sulphide mineralisation.

RC drilling will deliver a good test of the near surface sections of the DB1 and DB2 targets. The present drilling campaign is expected to take two weeks to complete, and we look forward to updating the market as results become available.

Galileo share price summary

The past couple of months have seen Galileo shares see-saw around the 30-cent mark. The company’s share price reached a 52-week high of 45 cents during early 2021. Year-to-date, Galileo shares are up an impressive 46%, but down 5% on this time last year.

Galileo has a market capitalisation of roughly $47.2 million, with approximately 143 million shares on its registry.

The post Why the Galileo Mining (ASX:GAL) share price is racing 12% higher today appeared first on The Motley Fool Australia.

More reading

• Why is everyone talking about Amazon stock?
• Magnis (ASX:MNS) share price soars 16% on funding success
• Why Bubs, Mayne Pharma, Paradigm, & PointsBet shares are tumbling lower
• Appen (ASX:APX) share price jumps 5% following positive broker update
• Top broker gives its verdict on the Zip (ASX:Z1P) share price

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 Magnis Energy Technologies Ltd (ASX: MNS) share price stormed more than 16% higher today after the company provided an update on its funding status.

However, the shares have partially retreated this afternoon. At the time of writing they are up 5.56% to 28.5 cents.

Let’s take a look at what the company announced and why investors are flocking to buy shares in Magnis.

What did Magnis announce?

Earlier today Magnis informed shareholders the company has secured a total of $20 million in funding.

The lithium-ion battery start-up was able to raise funds from two United States-based institutions, Lind Partners and SBC Global Investment Fund.

Magnis said US$13 million (approximately $17.6 million) has been invested into the company’s subsidiary iM3NY.

According to the company, the immediate cash injection will assist iM3NY with further expansion plans and its potential listing in the US on either the Nasdaq or NYSE.

A listing is expected be completed in late 2021. Magnis will provide shareholders with details in due course.

In addition, the company also noted remaining funds will be used for general working capital. These funds will be directed to advancing early works at its Nachu graphite project in Tanzania and its Townsville battery plant.

After announcing its funding success, securities in Magnis were reinstated onto the ASX.

Magnis trading halt

At the request of the company, Magnis shares were placed in a trading halt last Tuesday pending a capital raise.

After the company was unable to finalise the outcome of its proposed capital raise, the Magnis share price entered into a voluntary suspension.

As noted earlier, Magnis shares were reinstated following today’s funding announcement.

Snapshot of the Magnis share price

Magnis is an Australia-based producer of lithium-ion battery cells. The company has a partnership interest in Charge CCCV, a US intellectual property company with patented discoveries in lithium-ion batteries.

In addition, Magnis has ownership interests in two lithium-ion gigafactories in New York and Townsville. It also owns the Nachu graphite project in south-east Tanzania.

Following today’s announcement, the Magnis share price bolted more than 16%, hitting an intra-day high of 31.5 cents. It is up 50% year to date, and 42% in the last 12 months.

The post Magnis (ASX:MNS) share price soars 16% on funding success appeared first on The Motley Fool Australia.

More reading

• The Magnis (ASX:MNS) share price freeze continues, quarterly update released
• Magnis Energy (ASX:MNS) share price remains in trading halt
• Here’s why the Magnis (ASX:MNS) share price is halted

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

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

Amazon‘s (NASDAQ: AMZN) stock price slid nearly 8% on July 30 after the e-commerce and cloud giant posted its second-quarter numbers. Its revenue growth fell short of analysts’ expectations and it provided lower-than-expected revenue guidance for the third quarter.

Amazon’s decline weighed down other e-commerce and cloud stocks, since it’s considered a bellwether of both markets. Many Wall Street analysts also hastily lowered their price targets on the stock, citing tough upcoming comparisons in a post-pandemic market.

Let’s examine the core conversations around Amazon, whether the bulls or bears have the upper hand — and if it’s still a worthy investment.

Amazon’s big revenue miss

Amazon’s revenue rose 27% year over year to $113.1 billion during the quarter, but it missed Wall Street’s average forecast by nearly $2 billion. It expects its revenue to grow just 10%-16% year-over-year in the third quarter, compared to analysts’ expectations for 24% growth.

Amazon attributed its slowdown to difficult comparisons against the pandemic-driven acceleration in online shopping a year ago. During a conference call, Amazon CFO Brian Olsavsky noted that since last May, its revenue growth “jumped to the 35% to 45% range and remained at that level through Q1 of this year, when we had 41% growth”.

But, starting in the second quarter, Amazon “began to comp this high sales period from last year, and the year-over-year revenue growth rate has narrowed”.

Olsavsky expects the slowdown to continue as “vaccines become more readily available in many countries and people are getting out of their homes”. He also noted that Amazon’s average spending per Prime member had “moderated compared to spending seen during the peak of the pandemic”.x

Focus on its two-year CAGR

Amazon’s acceleration during the pandemic and its subsequent slowdown makes it difficult to gauge its near-term growth. So instead of focusing on its tough year-over-year comparisons over the next few quarters, Olsavsky advised investors to focus on its two-year CAGR instead.

Olsavsky noted that prior to the pandemic, Amazon was growing its revenue at a two-year CAGR of 21%. But after smoothing out the pandemic-related volatility, Olsavsky still expects Amazon to grow at a two-year CAGR of 25%-30% — which indicates its core businesses are still strong.

But mind the shifting growth engines

Amazon’s long-term growth seems stable, but its core growth engines are shifting. Within the e-commerce segment, its third-party merchants accounted for 56% of its total paid units during the second quarter — compared to 53% a year ago — and continue to generate significantly stronger sales growth than its first-party marketplace.

That shift is worrisome because Amazon has already faced quality control issues in its third-party marketplace and ongoing complaints about counterfeit products from overseas merchants.

Amazon’s revenue growth during the second quarter would have even been slower without the help of Amazon Web Services (AWS), the world’s largest cloud infrastructure platform, and its advertising business.

AWS’s revenue rose 37% year over year to $14.8 billion during the quarter, or 13% of Amazon’s top line, and its operating profits jumped 25% to $4.2 billion — that’s 54% of Amazon’s total operating income.

Revenue from its “other” segment — which primarily consists of its advertising revenue — soared 87% year-over-year to $7.9 billion, or 7% of Amazon’s top line.

If we exclude AWS and the “other” segment from both periods, Amazon’s revenue would have only risen 22% year-over-year during the second quarter. If we go a step further and also exclude all its third-party seller services, its revenue would have only increased 17% year-over-year.

Tough tasks ahead for a new CEO

Andy Jassy took over as Amazon’s new CEO in early July, but he hasn’t presented a clear roadmap for the company’s future yet. Jassy previously led AWS, Amazon’s core profit engine — which subsidises the growth of its lower-margin retail business. The company is clearly in good hands.

Yet Amazon’s retail business still faces significant challenges. Superstores like Walmart and Target have become better at matching Amazon’s prices and delivery options. Its dependence on third-party sellers remains a double-edged sword and it faces pressure to raise its wages and improve its warehouse conditions.

Shopify remains a major threat as it convinces independent merchants to set up their own online stores while niche marketplaces like Etsy are pulling away shoppers who want more unique gifts.

Amazon also needs to aggressively expand overseas to generate fresh growth and reduce its dependence on the saturated US market — but it’s been struggling to pull shoppers away from entrenched regional leaders like MercadoLibre in Latin America and Sea Limited‘s Shopee in southeast Asia.

Jassy might need to address these challenges over the next few quarters to convince investors that Amazon isn’t losing its edge in the evolving e-commerce market.

The key takeaways

I’ve owned Amazon’s stock for years, and it remains my portfolio’s top holding. I’m a bit disappointed in the company’s second-quarter numbers and guidance, but the slowdown wasn’t surprising at all. Amazon’s long-term CAGR still looks health and the stock remains reasonably valued at 46 times forward earnings — so I’m still willing to hold my shares, maintain a long-term view, and ride out the near-term volatility.

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

The post Why is everyone talking about Amazon stock? appeared first on The Motley Fool Australia.

More reading

• 3 things you missed in Amazon’s earnings report
• Here are 4 sure-fire ways to catch the next 10-bagger
• 3 Warren Buffett stocks to buy if the market crashes
• ASX 200 Weekly Wrap: ASX grinds to a halt following new all-time high
• Amazon (NASDAQ:AMZN) share price drops 7% despite growth

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Leo Sun owns shares of Amazon, MercadoLibre, and Sea Limited. The Motley Fool owns shares of and recommends Amazon, Etsy, MercadoLibre, Sea Limited, and Shopify. The Motley Fool recommends the following options: long January 2022 $1,920 calls on Amazon, long January 2023 $1,140 calls on Shopify, short January 2022 $1,940 calls on Amazon, and short January 2023 $1,160 calls on Shopify. The Motley Fool has a disclosure policy.

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

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The S&P/ASX 200 Index (ASX: XJO) is out of form on Tuesday and on course to record a decline. At the time of writing, the benchmark index is down 0.35% to 7,466.6 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are tumbling lower:

Bubs Australia Ltd (ASX: BUB)

The Bubs share price is down 4.5% to 41 cents. Earlier this week analysts at Citi responded to this struggling infant formula company’s disappointing quarterly update by retaining its sell rating and cutting its price target down to 33 cents. Citi isn’t expecting its performance to improve greatly in the near term, especially while international borders remain closed.

Mayne Pharma Group Ltd (ASX: MYX)

The Mayne Pharma share price has fallen 4.5% to 32 cents. This morning the pharmaceutical company announced that it has been hit with an investor class action. According to the release, the class action alleges the company undertook misleading or deceptive conduct and was in breach of continuous disclosure obligations. This relates to alleged anti-competitive conduct in the United States.

Paradigm Biopharmaceuticals Ltd (ASX: PAR)

The Paradigm share price has sunk 10% to $2.00. This follows the release of an update on its Investigational New Drug (IND) application submitted to the US Food and Drug Administration (FDA) in March. The release explains that the FDA has one remaining question relating to its application. And while management is confident it can resolve this question, the market seems less convinced.

PointsBet Holdings Ltd (ASX: PBH)

The PointsBet share price has tumbled 12% to $9.95. The catalyst for this was the completion of the sports betting company’s institutional placement and entitlement offer. PointsBet has raised $81 million at $8.00 per share and a further $215.1 million at $10.00 per share. It will now push ahead with its retail entitlement offer. These funds will be used to support North American marketing and client acquisition, technology and product development, and US market access and government licensing fees.

The post Why Bubs, Mayne Pharma, Paradigm, & PointsBet shares are tumbling lower appeared first on The Motley Fool Australia.

More reading

• Leading brokers name 3 ASX shares to sell today
• What’s driving the PointsBet (ASX:PBH) share price sharply lower?
• Mayne Pharma (ASX:MYX) share price drops on class action
• ASX 200 midday update: Afterpay jumps again, Qantas stands down crew
• Why the Paradigm (ASX:PAR) share price is sinking 14% 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. owns shares of and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia has recommended BUBS AUST FPO and Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Appen Ltd (ASX: APX) share price is enjoying some attention today. This comes after a leading broker released a positive note regarding the language technology data and services company.

At the time of writing, shares in Appen are swapping hands for $12.57, up 6.6%. Although, the Appen share price is still more than 65% lower than where it was a year ago.

Let’s uncover the latest news propelling the tech company higher today.

Increased ad growth attractive for Appen share price

Analysts at Citi have run the ruler over Appen shares and like what they see.

According to the note, the broker sees increased investment from US tech titans Facebook and Google as tailwinds for the Aussie company.

Specifically, an acceleration in advertising revenue growth could act as a significant driver for Appen’s AI/ML data services.

Last week, Google’s parent company Alphabet reported an 84% year-over-year (YoY) increase to US$7 billion from YouTube ad revenue in Q2. Meanwhile, Facebook delivered a 56% YoY increase in advertising revenue – pulling US$28.58 billion in Q2 FY21.

It appears analysts at Citi are expecting some of these funds to trickle down to Appen to promote further growth.

The broker maintained its buy rating and $18.80 share price target on Appen, representing a potential upside of 49.6%.

Potential M&A target

In mid-July, Citi put a circle around Appen as a potential merger and acquisition target. At the moment, activity in the M&A space is at a multi-year high and the broker believes the former ASX darling could find itself down M&A sights.

And the M&A floodgates are gushing #ausbiz #ASX

Morgan Stanley chart. pic.twitter.com/NcXehvYVUL

— David Scutt (@Scutty) June 9, 2021

https://platform.twitter.com/widgets.js

Siraj Ahmed of Citi explained:

With the recent increase in M&A and given Appen’s position as a leader in the AI training data space as well as client exposure, we would not be surprised if Appen was a potential acquisition target for an IT Services or BPO firm

Finally, the company trades on a price-to-earnings (P/E) ratio of 27.8 based on the current Appen share price.

Appen is slated to report its half-year results on 26 August 2021.

The post Appen (ASX:APX) share price jumps 5% following positive broker update appeared first on The Motley Fool Australia.

More reading

• ASX 200 Weekly Wrap: ASX grinds to a halt following new all-time high
• These were the worst performing ASX 200 shares last week
• Here’s why the Appen (ASX: APX) share price is down 50% in 2021 so far
• 6 ASX shares to rocket when COVID Delta passes
• 2 exciting ASX tech shares that could be buys

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Motley Fool contributor Mitchell Lawler owns shares of Appen Ltd and Facebook. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Alphabet (A shares), Alphabet (C shares), Appen Ltd, and Facebook. The Motley Fool Australia owns shares of and has recommended Appen Ltd. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), and Facebook. 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 Zip Co Ltd (ASX: Z1P) share price is trading notably higher for a second day in a row on Tuesday.

In afternoon trade, the buy now pay later (BNPL) provider’s shares are up a sizeable 9% to $7.90.

This means the Zip share price is now up 19% in the space of two days.

Why is the Zip share price racing higher?

Investors have been bidding the Zip share price higher this week after Afterpay Ltd (ASX: APT) agreed to be acquired by US payments giant Square.

This sparked hopes that Zip may receive a takeover approach of its own. Especially given recent speculation that rival Klarna has been building up a secret position in the BNPL provider.

Can its shares keep rising?

The good news for shareholders is that one leading broker believes the Zip share price can still keep rising.

According to a note out of Citi this morning, its analysts have retained their buy rating and $8.90 price target on the company’s shares.

Based on the latest Zip share price, this implies potential upside of 12.5% over the next 12 months.

What did the broker say?

While Citi acknowledges that Square’s acquisition of Afterpay increases the competitive risks for Zip and its QuadPay business, it also notes that it highlights its takeover appeal.

Citi commented: “We see mixed read-throughs for Zip from Square’s takeover of Afterpay – on the one hand it increases the takeover appeal for Zip, especially given the fast growing US business. However, arguably the Afterpay sale speaks to the importance of scale especially given increasing competition and our concern is that the combination of Square and Afterpay increases the medium-term risk for Zip given it increases the scale disadvantage of Quadpay relative to its competitors in the US.”

The post Top broker gives its verdict on the Zip (ASX:Z1P) share price appeared first on The Motley Fool Australia.

More reading

• Why Afterpay, Bellevue Gold, Pilbara Minerals, & Zip are charging higher
• Here’s why the Zip (ASX:Z1P) share price is rocketing 8%
• What does Afterpay’s takeover mean for the Zip (ASX:Z1P) share price?
• ASX 200 rises, Afterpay soars, Zip jumps
• These are the 10 most shorted ASX shares

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 AFTERPAY T FPO and ZIPCOLTD 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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

Stocks got back into the groove on Monday, and the Nasdaq Composite (NasdaqINDEX: ^IXIC) helped lead the way higher. Even as other major market benchmarks gave up much of their daily gains, the Nasdaq was still up a third of a percent as of 12:30 p.m. EDT.

Electric vehicles have been a hot area of the market lately, and Tesla (Nasdaq: TSLA) remains the leader in that high-profile industry. Even though Chinese competitors were the ones doing most of the talking on Monday, Tesla’s stock continued to move higher as investors seemed confident in the company’s ability to remain atop the fast-growing market. Below, we’ll look at what China’s EV companies said and what it means for Tesla and the broader industry.

China loves electric vehicles

Several Chinese electric automakers reported their latest monthly results. They all showed continuing growth, albeit at different rates.

Shares of Nio (NYSE: NIO) were up nearly 3% Monday afternoon. The company reported delivering 7,931 vehicles in July, jumping almost 125% compared to the same month a year ago. Nio shipped 3,669 ES6 five-seat SUVs, 2,560 EC6 coupe-model SUVs, and 1,702 ES8 six- and seven-seat SUVs. That brought the total number of vehicles that Nio has delivered in its history above the 125,500 mark.

XPeng (NYSE: XPEV) saw an even bigger rise, with its stock climbing 6%. The automaker reported deliveries of 8,040 vehicles in July, rising 228% year over year. Deliveries of the P7 midsized sedan hit 6,054, while XPeng sent out 1,986 of its compact SUV model, the G3. 2021 has been an exceptional year for XPeng, with year-to-date deliveries through seven months almost quintupling the same figure from 2020. The company attributed much of the popularity of the P7 to its navigation-guided pilot driver assistance platform, and ongoing technological innovation could make that feature even more valuable to drivers.

Lastly, Li Auto (Nasdaq: LI) led the pack with 8,589 deliveries in July. The company’s Li ONE has been a massive hit, with year-to-date deliveries of nearly 38,750. July marked a record month for deliveries once again, and co-founder Yanan Shen predicted that new upgrades by the end of 2021 will further support the positive perception of Li Auto’s vehicle model for consumers. Li’s shares were up 2% on the day.

Tesla keeps winning

Some might have thought that gains for Chinese EV stocks would mean losses for Tesla, but that’s not how investors looked at it. Instead, Tesla stock rose 5%, as shareholders seemed to assume that if China’s own domestic automakers are having success, so too is Tesla in serving the Chinese market through vehicles from its Shanghai Gigafactory facility.

Tesla did get a vote of confidence from KGI Securities Monday. Analysts gave Tesla an outperform rating and set a price target of $855 per share, implying almost 20% further upside from where the stock trades currently.

The other news item affecting Tesla came from Piedmont Lithium (Nasdaq: PLL), which said it would delay lithium shipments to the automaker. Piedmont shares were up even though the supplier didn’t specify a date on which it could make good on its agreement with Tesla.

As the leader in the EV space, Tesla has been able to keep competition at bay while steadily growing the addressable market for electric vehicles of all kinds. That’s a positive for the entire industry, and it means Chinese EV stocks can win without endangering Tesla’s key role in driving innovation forward in the industry.

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

The post Tesla keeps winning even as Chinese EV foes watch sales soar appeared first on The Motley Fool Australia.

More reading

• Why Tesla stock popped Monday
• Ampol (ASX:ALD) share price falls on $7m funding for EV fast charging
• Why the Tesla share price jumped 5% on Thursday
• Here are the US shares ASX investors were buying last week
• Why Tesla stock fell on Tuesday

Dan Caplinger 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 NIO Inc., Piedmont Lithium Inc., and Tesla. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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

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The EML Payments Ltd (ASX: EML) share price is in the green today.

As of writing, shares in the software as a service (SaaS) company are trading for $3.86 – up 4.89%. The S&P/ASX 200 Index (ASX: XJO), meanwhile, is 0.24% lower.

While the company hasn’t made any market announcements for a few days, let’s take a closer look at what may be causing EML shares to lift.

Why EML is rising

One reason for today’s increase could be a rebound from Friday’s update. The update sent the EML share price lower.

EML identified “historical deficiencies in cash” related to dormant e-money accounts in its Irish-based business, Prepaid Financial Services (PFS).

In May, EML shares crashed over 40% in one day when the Central Bank of Ireland announced an investigation into PFS’ card services business over concerns about anti-money laundering compliance.

As PFS, and therefore Ireland serves as the base of all of EML’s European Union (EU) operations, the investigation put significant risk on the company’s continuing operations within the EU.

On Friday’s release, the company explained that the deficiencies pre-date its acquisition of PFS UK. Motley Fool Reported on Friday that EML does not expect the event to have an impact on its profit and loss account. It does, however, expect it will be required to inject £14.1 million ($26.6 million) into safeguarded accounts.

Another reason may just be because the entire tech sector is rising today. Presently, the S&P/ASX All Technologies Index (ASX: XTX) is lifting 3.03%.

EML share price snapshot

Over the past 12 months, the EML share price has increased 30.9%. Year-to-date, however, shares are down 8.75%.

EML Payments has a market capitalisation of around $1.3 billion.

The post EML (ASX:EML) share price up 5% on Tuesday appeared first on The Motley Fool Australia.

More reading

• The EML Payments (ASX:EML) share price is falling today. Here’s why
• Two months on, what is the outlook for the EML Payments (ASX:EML) share price?
• The EML Payments (ASX:EML) share price surges 5% today
• The 3 ASX shares that top brokers just upgraded to “buy”
• Here are the 5 worst performing ASX 200 tech shares from FY21

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended EML Payments. The Motley Fool Australia owns shares of and has recommended EML Payments. 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 EcoGraf Ltd (ASX: EGR) share price is continuing its ascent since the beginning of July, up 30%. This comes after the graphite producer announced it will be evaluating an industrial site in Sweden.

During mid-afternoon trade, EcoGraf shares are racing to 78.5 cents, up 10.56%. In comparison, the All Ordinaries Index (ASX: XAO) is sitting at 7,760 points, up 1.3%

EcoGraf signs land reservation agreement

Investors are buying up EcoGraf shares as the company plans to further expand its presence in the lithium-ion battery market.

In a statement to the ASX, EcoGraf advised it signed a land reservation agreement with the Skelleftea municipality in Sweden. This follows the company’s previous efforts in exploring a number of sites across Europe, including Germany.

EcoGraf is assessing a 65,000 square metre industrial site in Skelleftea as a potential location for its battery anode materials facility. Located in the Vasterbotten region, the area benefits from ample clean and renewable energy. It is considered to have the lowest industrial power costs in all of Europe.

The company will commence a detailed evaluation of the potential development after completing a preliminary assessment to select the site. Pleasingly, the area is of sufficient size to accommodate future expansion for increasing production capacity along with battery anode recycling.

The company says its eco-friendly production process aligns with many world governments adopting new environmental, social and governance frameworks to help transition to cleaner energy.

EcoGraf’s facilities use the company’s patented purification technology which eliminates the use of toxic hydrofluoric acid (HF).

It is expected work will begin on the selected European site once EcoGraf’s new Australian facility is completed.

About the EcoGraf share price

The EcoGraf share price has rocketed by more than 1,118% in the past year and is up an astonishing 360% year-to-date. The surge reflects growing investor confidence within the lithium-ion industry and the company itself.

Based on the current valuations, EcoGraf commands a market capitalisation close to $353.1 million.

The post EcoGraf (ASX:EGR) share price powers 10% ahead on industrial site news appeared first on The Motley Fool Australia.

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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 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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