• Why the Atomos (ASX:AMS) share price is up 23% in a month

    Two men cheering at laptop

    The Atomos Ltd (ASX: AMS) share price has been flying lately, gaining 23% in the last month.

    At close of trade today, shares in the content creation technology company were swapping hands for $1.23. This time last month, they were going for just $1.00.

    The gains to the Atomos share price come despite the company releasing just a single piece of news to the market in the last month. However, its CEO has been in the news today for all the wrong reasons.

    Let’s take a look at what Atomos has been up to lately.

    The latest news on Atomos

    Sydney escapee

    Atomos is in the news today after its CEO Jeromy Young was allegedly caught trying to break COVID-19 border restrictions aboard a super yacht.

    Maritime Safety Queensland noted a 32-metre super yacht had landed on the Gold Coast after travelling from Sydney. 7 News reported today that Young was among the 4 people on board the super yacht.

    After arriving on the Gold Coast, the group attended a rugby game in Brisbane on Wednesday before being fined for providing false and misleading information to get across the Queensland border.

    They have all since tested negative to COVID-19.

    The last we heard from Atomos

    Aside from its CEO’s escapades, the only time we’ve heard from Atomos this month was on 30 June when the company released a trading update.

    The update pushed the Atomos share price up to close 11.46% higher than its previous session.

    The trading update announced record sales for the 2021 financial year. The company has brought in more than $77 million – 73% more than the previous financial year.

    It also recorded more than $44.2 million worth of sales in the second half of the 2021 financial year. That’s 275% more than the prior corresponding period.

    Atomos share price snapshot

    The Atomos share price has been performing well lately. It’s gained 26% year to date. It is also 186% higher than it was this time last year.

    The company has a market capitalisation of around $269 million, with approximately 218 million shares outstanding.

    The post Why the Atomos (ASX:AMS) share price is up 23% in a month appeared first on The Motley Fool Australia.

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

    Before you consider Atomos, 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 Atomos 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 May 24th 2021

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    The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Atomos Ltd. The Motley Fool Australia has recommended Atomos 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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  • Clean TeQ Water (ASX:CNQ) share price gushes 10% higher today

    Water tap with dollar sign

    The Clean TeQ Water Ltd (ASX: CLQ) share price rose strongly today following an update on its share sale facility.

    At the time of writing, the company’s shares are up 10% to $1.32. It’s worth noting that at one point, the share price reached an all-time high of $1.45 during the morning.

    Quick take on Clean TeQ Water

    Newly listed on the ASX, Clean TeQ Water is a metals recovery and water treatment solutions company. Its technology includes desalination, nutrient removal, zero liquid discharge and hardness removal.

    Earlier this month, Clean TeQ Water separated from Sunrise Energy Metals Ltd (ASX: SRL), formerly named Clean TeQ Holdings. The spin-off is to allow Sunrise Energy Metals to focus on its nickel-cobalt-scandium project in New South Wales.

    As a result, shareholders in Sunrise Energy metals received one Clean TeQ Water share for every two shares held.

    Completion of share sale facility

    Investors are pushing Clean TeQ shares into new territory after the company revealed its latest announcement.

    Clean TeQ Water advised that the sale of its shares through the demerger share sale facility has been completed.

    According to the Demerger Booklet released 17 May, a share sale facility was established to allow eligible shareholders to sell their Clean TeQ Water shares. This included shareholders who had less than 5,000 Sunrise Energy Metals shares and those who were not eligible to receive Clean TeQ Water shares.

    The share sale facility provided shareholders with the opportunity to transact without incurring any brokerage or other costs.

    In total, 63,235 Clean TeQ Water shares were sold on market through the share sale facility. The average price for these shares was approximately 93.4 cents per share.

    The gross proceeds of the share sale facility will be distributed amongst eligible shareholders at a later date.

    About the Clean TeQ Water share price

    Since debuting on the ASX boards on 2 July, Clean TeQ Water shares have continued their upward trend. The company’s share price hit an all-time high of $1.45 during the first 30 minutes of market open today.

    Clean TeQ Water presides a market capitalisation of roughly $59 million, with more than 44.6 million shares outstanding.

    The post Clean TeQ Water (ASX:CNQ) share price gushes 10% higher today appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Clean TeQ Water right now?

    Before you consider Clean TeQ Water, 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 Clean TeQ Water 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 May 24th 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 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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  • Will the Qantas (ASX:QAN) share price take off soon?

    view from below of jet plane flying above city buildings representing corporate travel share price

    2021 certainly has been a turbulent year for the Qantas Airways Limited (ASX: QAN) share price.

    After being up as much as 12% year to date to $5.50 in March, the Qantas share price is now in negative territory for the year at $4.75.

    In light of this turbulence, investors will no doubt be interested to know where analysts think the airline operator’s shares are going next.

    What do brokers think about the Qantas share price?

    A number of leading brokers remain positive on the Qantas share price despite the recent lockdowns in Sydney that are disrupting the travel market.

    According to a note out of Morgan Stanley, its analysts have an overweight rating and $7.00 price target on the company’s shares. This price target implies potential upside of 47% over the next 12 months for Qantas shares.

    Morgan Stanley is expecting a gradual improvement in group capacity over the next two years, before things normalise again in FY 2024.

    More bullish brokers

    Another broker that sees value in Qantas shares is Citi. It currently has a buy rating and $5.89 price target on them.

    According to the note, while the broker is expecting its international recovery to take some time, it remains very positive on its domestic business. This is due to market share gains and strong economics.

    Finally, Goldman Sachs is another leading broker that appears to believe Qantas shares offer compelling value for investors. Its analysts currently have a buy rating and $6.38 price target on its shares. This implies potential upside of 34% over the next 12 months.

    Goldman commented: “QAN represents a strong recovery investment, if the Australian COVID-19 vaccination program has the effect of reducing community transmission of the virus and limits the need for domestic border closures.”

    In light of the above, this could make Qantas an ASX 200 share to watch over the coming months.

    The post Will the Qantas (ASX:QAN) share price take off soon? appeared first on The Motley Fool Australia.

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

    Before you consider Qantas?, 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 Qantas? 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 May 24th 2021

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    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Zip share price has rocketed up 14% in a week. Let’s see why

    business ups and downs, roller coaster, share price ups and downs, cyclicall

    The Zip Co Ltd (ASX: Z1P) share price has certainly been on a roller coaster over the past week. As it stands on paper, Zip shares are up 13.74% over the past 5 trading days. That includes the 0.61% that Zip shares have added so far today.

    However, that number hides the fact that Zip shares climbed all the way up to near $9 a share last Thursday. Today, Zip remains down more than 7% from that high. It’s trading at $8.28 a share at the time of writing.

    The rollercoaster metaphor can be extended to 2021 as a whole. Zip shares are currently up a very healthy 48% year to date. However, back in February, Zip shares climbed as high as $14.53.

    That put them up a staggering 163% year to date at the time. At the current share price, Zip remains down 40% from those highs.

    But let’s turn back to the past week. What’s gone so right for this buy now, pay later (BNPL) company recently?

    Is Klarna BNPL-ing some shares?

    Well, it’s likely that a large chunk of Zip shares’ recent success can be put down to the rumours making their way around the markets last week. As my Fool colleague James covered at the time, it was reported in the Australian Financial Review that the European BNPL provider Klarna has taken a 4% stake in Zip Co.

    The report states the motivation behind the move was “designed to give it options should the buy now, pay later sector consolidate down to two or three main players globally”.

    Klarna itself is part-owned by Commonwealth Bank of Australia (ASX: CBA). This remains speculative since neither Zip nor Klarna have confirmed (nor denied) this rumour.

    Even so, the reaction from investors was one of enthusiasm. Zip shares spiked close to 15% on the morning of the report and had climbed even higher by the end of trading. However, since then, the excitement has cooled somewhat, as we noted above.

    Are Zip shares a buy today?

    One broker who thinks there might still be some upside in the current Zip share price is Citi. As my Fool colleagues covered earlier today, Citi has recently cut its 12-month price target for Zip shares by 6% to $10.25.

    Even so, that price target implies a potential upside of almost 24% on the current Zip share price. Citi noted that customer attention for BNPL platforms, including Zip’s, increased over the month of June. However, it has its eye on Zip’s US QuadPay business which had a more subdued month.

    At the current Zip share price, the company has a market capitalisation of $4.65 billion.

    The post The Zip share price has rocketed up 14% in a week. Let’s see why appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Zip Co right now?

    Before you consider Zip Co, 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 Zip Co 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 May 24th 2021

    More reading

    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. owns shares of and has recommended ZIPCOLTD FPO. 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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  • A2 Milk and Zip were among the most traded ASX shares last week

    green investor, happy investor, digital investing

    Australia’s leading investment platform provider CommSec has released data on the most traded ASX shares on its platform from last week.

    Here’s the data:

    Zip Co Ltd (ASX: Z1P)

    This buy now pay later (BNPL) provider was the most traded ASX share on the CommSec platform last week. Its shares were attributable to 3.6% of trades during the week, with the buying and selling evenly split. The buyers certainly will have been the happier group, with the Zip share price rising 9.1% over the five days. This was driven by speculation that Klarna has bought a stake in the company.

    Sydney Airport Holdings Pty Ltd (ASX: SYD)

    This airport operator’s shares were involved in 2.3% of trades on CommSec last week. This followed news that Sydney Airport has received a $22.3 billion takeover approach from a consortium of infrastructure investors. And with buyers accounting for just 13% of the volume, it appears as though CommSec investors were quick to cash in following Monday’s 33.9% gain.

    A2 Milk Company Ltd (ASX: A2M)

    This infant formula company’s shares were popular with investors again last week. A2 Milk’s shares accounted for 2.1% of trades on CommSec, with buyers responsible for 71% of the volume. Investors were bidding the a2 Milk share price higher after it was given the thumbs up by regulators to acquire a 75% interest in Mataura Valley Milk. The a2 Milk share price rose 10.4% over the five days.

    BetaShares Global Sustainability Leaders ETF (ASX: ETHI)

    This ethical ETF was among the most traded shares on CommSec again last week and attributable to 1.6% of total trading volume. A sizeable 91% of this volume came from the buy side, which helped the ETF record a modest weekly gain. The BetaShares Global Sustainability Leaders ETF share price is now up ~12% for the year.

    Betashares Nasdaq 100 ETF (ASX: NDQ)

    This ETF was popular with investors again during the five days. The Betashares Nasdaq 100 ETF was responsible of 1.5% of trades on CommSec, with 86% of the volume from buyers. The technology-focused ETF rose 1.7% last week, stretching its 2021 gain to ~14%.

    The post A2 Milk and Zip were among the most traded ASX shares last week appeared first on The Motley Fool Australia.

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

    Before you consider Zip, 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 Zip 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 May 24th 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. owns shares of and has recommended BETANASDAQ ETF UNITS and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended BETANASDAQ ETF UNITS. The Motley Fool Australia has recommended A2 Milk. 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 Suncorp (ASX:SUN) share price just broke its 52-week high

    excited man reaching new record high on mountain side

    The Suncorp Group Ltd (ASX: SUN) share price has surpassed its 1-year record. Shares in the bank reached $11.53 before falling to $11.37 at the time of writing. The current price is 0.31% lower than yesterday’s close – quite the turnaround from earlier this morning.

    With its share price up 28% over the past 12 months, let’s look at some of the more recent stories that have had a positive effect on Suncorp.

    Suncorp’s positive 12 months

    Earlier this month, Suncorp announced the sale of its remaining interests in the Tasmanian insurance market.

    At the time, Suncorp CEO Steve Johnson said the move was “consistent with our focus on simplifying the Group and driving improvement in our core insurance and banking businesses.”

    The Suncorp share price increased 1.2% that day.

    Strong broker ratings on Suncorp may have also aided it in breaking its 52-week record.

    In late June, analysts at Citi predicted the bank could pay a special dividend of 61 cents per share in FY21 and 58 cents per share in FY22. At today’s market price, this would equate to a yield of 5.4% and 5.1% respectively.

    Similarly, UBS placed Suncorp in its list of companies it is expecting a dividend upgrade. Another company UBS are rating for high dividend payments is Bendigo and Adelaide Bank Ltd (ASX: BEN).

    Suncorp share price snapshot

    While the Suncorp share price is up 28% in a year, it is down 14% over the past 5 years.

    On the first trading day of 2020, shares in Suncorp were trading for $12.96. It was impacted heavily by the COVID-19 pandemic and has still not recovered since then.

    The post Why the Suncorp (ASX:SUN) share price just broke its 52-week high appeared first on The Motley Fool Australia.

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

    Before you consider Suncorp, 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 Suncorp 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 May 24th 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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  • Pro Medicus (ASX:PME) share price soars to all-time high

    Group of medical professionals high five

    The Pro Medicus Limited (ASX: PME) share price has soared to a new all-time high of $59.90 during intraday trade today.

    At the time of writing, the shares have partially retreated and are swapping hands for $59.48, still up 3.48% on yesterday’s closing price.

    The medical imaging company has been a standout performer on the S&P/ASX 200 Index (ASX: XJO) in 2021.

    The Pro Medicus share price was also the best performing on the S&P/ASX 200 Health Care Index (ASX: XHJ) during FY21. The company’s shares started the financial year at $26.46 and ended at $58.72, reflecting a 122% gain.

    They have gained more than 70% year to date, and more than 140% in the last 12 months.

    What’s been fuelling the Pro Medicus share price?

    The initial catalyst that sparked the Pro Medicus share price can be traced back to January.

    The company announced it had signed a 7-year contract with Intermountain Healthcare in Salt Lake City. The transactional licensing contract is estimated to be worth about $40 million over the period. As a result, Pro Medicus will implement its Visage 7 Viewer and Visage 7 Open Archive products across all radiology and subspecialty imaging departments.

    The second catalyst that moved the Pro Medicus share price this year came in mid-May.

    Pro Medicus announced its wholly owned US subsidiary, Visage Imaging, had signed a deal with the University of Vermont (UVM). The contract will see Pro Medicus implement its products across 6 hospitals operated by UVM. The contract is estimated to generate $14 million over an 8-year period.

    In addition, the company’s subsidiary also entered into a multi-year research agreement with the Mayo Clinic. Under the agreement, the two parties will develop and commercialise artificial intelligence for the medical imaging sector.

    More on Pro Medicus

    Pro Medicus is a medical imaging company that offers its products and services to hospitals and imaging companies.

    The company is a leading provider of radiology information systems (RIS), and picture archiving and communication systems (PACS).

    Pro Medicus has also been on the end of favourable broker coverage. Most recently, analysts at Bell Potter retained a ‘hold’ rating on the company.

    Analysts noted that Pro Medicus could accrue a minimum of $146 million in revenues over the next 5 to 8 years. In addition, the research note highlighted that Pro Medicus holds a 3% to 5% share of the radiology market. As a result, the company could be poised for further expansion in the future.

    The post Pro Medicus (ASX:PME) share price soars to all-time high 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 May 24th 2021

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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. 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 AGL Energy (ASX:AGL) share price has fallen 15% in 3 months

    share price fall, share price decrease, falling share price, price drop, price down

    The AGL Energy Limited (ASX: AGL) share price has been having a hard time lately, falling a whopping 14.56% in the past 3 months.

    Right now, shares in AGL are trading for $8.05. But, just 3 months ago, they were going for $9.41.

    Over the last 90 days, the energy company announced its fleshed out demerger plans and said goodbye to its CEO and managing director.

    Let’s take a look at what AGL has been up to lately.

    The last 3 months for the AGL share price

    It’s been a wild ride for the AGL share price.

    AGL’s boss stepped down

    The first news to rock AGL’s share price came on 22 April when the company’s CEO and managing director Brett Redman announced he was stepping down.

    Redman stated he didn’t want to lead the company after its structural separation, which AGL announced in March.

    Redman’s exit was effective immediately and AGL’s chair Graeme Hunt took on the position of interim CEO and managing director.

    The AGL share price fell 2.87% in reaction to Redman’s walkout.

    Confirmation of structural separation

    The last time the market heard from AGL was on 30 June when the company confirmed its planned structural separation and explained how it will go ahead. It also provided guidance for the 2021 financial year.

    The two pieces of news saw the AGL share price fall 9.99% over the course of the day.

    Firstly, AGL announced the process in which it’s planning to create 2 ASX-listed energy companies.

    It will begin by morphing AGL Energy into Accel Energy, a company that will generate electricity.

    Accel Energy will then demerge to create AGL Australia. AGL Australia will focus on retailing, trading, storing, and supplying energy.

    AGL plans to put the structural separation to a shareholder vote shortly so the split can be finalised before the end of 2021.

    Updated guidance

    While AGL’s guidance seems relatively neutral, it no doubt affected its plunging share price that day.

    The energy company confirmed its underlying earnings would be in the range of its previous guidance.

    It stated its underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) would be in the lower half of its previous guidance of $1,585 million to $1,845 million.

    Additionally, it said its underlying net profit after tax would be roughly in the middle of its previously predicted range of between $500 million and $580 million.

    AGL also expects its earnings to be less in the 2022 financial year.

    AGL share price snapshot

    It goes without saying the AGL share price is having a bad year on the ASX.

    Currently, it’s down 33% year to date. It is also 53% lower than it was this time last year.

    The post Why the AGL Energy (ASX:AGL) share price has fallen 15% in 3 months appeared first on The Motley Fool Australia.

    Should you invest $1,000 in AGL Energy right now?

    Before you consider AGL Energy, 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 AGL Energy 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 May 24th 2021

    More reading

    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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  • Why Alkane, Carsales, Platinum, & Stockland shares are tumbling lower

    shocked man looking at laptop with declining arrows in the background showing a falling share price

    In afternoon trade on Tuesday, the S&P/ASX 200 Index (ASX: XJO) is on course to record another gain. At the time of writing, the benchmark index is off its intra-day highs but up 0.2% to 7,346.1 points.

    Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are tumbling lower:

    Alkane Resources Limited (ASX: ALK)

    The Alkane Resources share price is down 8% to $1.13. This is despite there being no news out of the gold miner. However, with its shares up strongly over the last few months, today’s decline could be due to profit taking from some investors. The Alkane Resources share price is still up a decent 16% year to date.

    Carsales.Com Ltd (ASX: CAR)

    The Carsales share price is down 2% to $21.13. This decline may be due to news that fellow auto listings company iCar Asia Ltd (ASX: ICQ) has received a takeover approach today. Carsales has been touted as a potential suitor of iCar Asia numerous times over the last few years. Investors may be disappointed that it missed out.

    Platinum Asset Management Ltd (ASX: PTM)

    The Platinum share price is down 8% to $4.23. This follows the release of another disappointing funds under management update. That update revealed yet another decline in Platinum’s funds under management during the month of June. In addition to this, the fund manager advised that it expects to generate performance fees of just $0.3 million during the second half.

    Stockland Corporation Ltd (ASX: SGP)

    The Stockland share price is down 2% to $4.50. A number of real estate companies have come under pressure today. This is possibly due to concerns over the impact that COVID-19 lockdowns will have on their businesses. The S&P/ASX 200 Real Estate index is down 0.35% this afternoon.

    The post Why Alkane, Carsales, Platinum, & Stockland shares are tumbling lower 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.

    *Returns as of May 24th 2021

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    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended 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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  • It’s been a massive year for the Pilbara Minerals (ASX:PLS) share price

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

    The Pilbara Minerals Ltd (ASX: PLS) share price has gone from strength to strength, rallying 460% in the past 12 months and 80% year-to-date.

    It wasn’t long ago that tumbling lithium prices pushed the broader ASX lithium sector to the brink of collapse, with smaller players such as Alita Resources Ltd (ASX: A40) and Altura Mining Ltd (ASX: AJM) spiralling into administration.

    Fast forward to today, a resurgence in lithium demand has helped rally the Pilbara Mineral share price well beyond its 2018 peak and into record territory.

    From zero to hero

    A year ago, the Pilbara Minerals share price was trading around 23 cents, backtracking the company’s valuation to when it was still undergoing drilling programs to identify its potential lithium resource.

    Things were getting pretty ugly for Pilbara Minerals with its FY20 results flagging a net loss after tax of $99.2 million. This compares to its net loss after tax of $28.9 million in FY19.

    By November 2020, however, lithium prices had finally begun to tick upwards and the Pilbara Minerals share price followed suit.

    Between October and December 2020, the company’s shares rallied 178% to a 2-year high of 87 cents.

    With the lithium market showing signs of promise, Pilbara Minerals made a bold move to acquire embattled lithium miner Altura on 28 October 2020.

    This acquisition would see Pilbara Minerals acquire a “well-timed and cost-effective strategic acquisition” which neighbours its main Pilgan plant.

    A bumper 2021 for the Pilbara Minerals share price

    It’s been onwards and upwards for Pilbara Minerals, with the company’s shares joining the S&P/ASX 200 Index (ASX: XJO) on 12 March.

    The company’s March quarter results highlighted record production of 77,820 dry metric tonnes (dmt) of spodumene concentrate at an annualised production capacity of approximately 330,000 tonnes per annum (tpa).

    The quarterly announcement also advised that site works were underway to improve the project’s spodumene concentrate production to ~380,000 tpa.

    Additional growth options are currently being explored, including a Pilgan Plant stage 2 expansion which could increase production capacity by another ~100,000 tpa.

    On 25 June, Pilbara Minerals was pleased to announce that it plans to restart the production of Altura Mining operations.

    This would see the company dust off the Ngungaju plant, with restart costs of approximately $39 million.

    The Ngungaju plant is expected to be another growth driver, with an anticipated 180,000 to 200,000 dmt of production by mid calendar year 2022.

    The post It’s been a massive year for the Pilbara Minerals (ASX:PLS) share price appeared first on The Motley Fool Australia.

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    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. 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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