If you’re wanting to add some exposure to the tech sector then you might want to take a look at the shares listed below.

They have been growing at a strong rate in recent years and could have very bright futures ahead of them. Here’s what you need to know about these three ASX tech shares:

Afterpay Ltd (ASX: APT)

The first ASX tech to look at is Afterpay. It is of course the buy now pay later (BNPL) focused payments company which helped popularise the payment method, becoming a verb in the process.

Afterpay has been growing at a rapid rate in recent years thanks to the increasing popularity of BNPL with consumers and merchants and its global expansion. In respect to the latter, Afterpay has recently launched in Canada and mainland Europe, and is now looking closely at the Asia market. Combined with its $5 trillion opportunity in the United States, it has a huge runway for growth over the 2020s.

Altium Limited (ASX: ALU)

Another option in the tech sector to look at is Altium. It is an electronic design software provider best-known for its Altium Designer and Altium 365 platforms. These platforms are dominating the electronic design market and look set to drive strong growth for Altium over the next decade.

This is especially the case given the increasing demand for this kind of software because of the growing Internet of Things and artificial intelligence markets. These are underpinning an explosion in electronic devices of all shapes and sizes.

Pushpay Holdings Group Ltd (ASX: PPH)

A final ASX tech share to look at is Pushpay. It is a donor management and community engagement platform provider for the faith sector.

Thanks to the shift to a cashless society and the digitisation of the church, Pushpay’s industry-leading platform continues to grow in popularity. This has led to it delivering stellar sales growth over the last few years. And thanks to operating leverage, its earnings have been growing at an even quicker rate.

The post 3 growing ASX tech shares for growth investors appeared first on The Motley Fool Australia.

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• This surprising ASX tech share refuses to dive: analyst
• Takeovers, credit cards and an AAA credit rating confirmation. Motley Fool CIO Scott Phillips on Nine’s Late News
• Why the Altium (ASX:ALU) share price rocketed 39% higher
• 5 ASX shares that haunt fund managers

James Mickleboro does not own any shares mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Altium, and PUSHPAY FPO NZX. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO, Altium, and PUSHPAY FPO NZX. 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.

Shares of The Wendy’s Company (NASDAQ: WEN) were rocketing 18% higher on Tuesday after the WallStreetBets subreddit crowd apparently turned its attention to the fast-food chain and mentioned it as a possible short squeeze candidate.

Chat room traders this year have driven up the shares of a number of companies that short-sellers have bet heavily against. While squeezes are not uncommon, retail investors have driven the discussion since January when they rallied together to support GameStop (NYSE: GME) and lash out at hedge funds that overplayed their hands.

Wendy’s, though, is an unlikely stock to serve as a rallying point for Reddit investors, as there were just 8.2 million shares sold short at last count, down almost 18% from the prior period and amounting to just 4% of the shares outstanding.

With days to cover standing at around 2.5, it doesn’t seem like a strong candidate to carry the banner next.

Wendy’s stock is actually up 43% from the 52-week low it hit in March, and last month beat analyst expectations for first-quarter results, posting revenue of $460 million and generating adjusted profits of $0.20 per share.

That was notably better than the $444 million in revenue and $0.14 per share in earnings Wall Street anticipated.

While the meme stocks of the trading frenzy that started 2021 continue to capture the Reddit crowd’s fancy, such as AMC Entertainment Holdings (NYSE: AMC), which has doubled in the past week alone, there have been a few other stocks that were curious choices, such as Tootsie Roll Industries (NYSE: TR), whose stock spiked over 100% in January and still trades 15% above where it started the year.

Wendy’s has several tailwinds, including a returning workforce and a bullish outlook by management that raised full-year guidance.

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

The post Wendy’s is suddenly a meme stock appeared first on The Motley Fool Australia.

More reading

• Why the ECS Botanics (ASX:ECS) share price is smoking the ASX today
• Here’s what’s driving the BPH Energy (ASX:BPH) share price today
• This tumbling ASX fintech should be 3 times current price: analyst
• Here’s why the Whitehaven Coal (ASX:WHC) share price is on fire this week
• Splitit (ASX:SPT) share price higher on BNPL network partnership

Rich Duprey 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.

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

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The ECS Botanics Holdings Ltd (ASX: ECS) share price is surging higher following an update on the company’s performance for 2021.

At the time of writing, the agribusiness and hemp food company’s shares are up 7.32% to 4.4 cents. It’s worth noting that during morning trade, ECS shares rose to an intraday high of 4.8 cents before profit-takers swopped in.

What did ECS announce?

In today’s statement, ECS advised it is achieving strong sales growth from its first commercial harvest at its Victorian facility. The robust result is being driven by new customer contracts along with increased demand for its medicinal cannabis products. Current quarter sales have reached more than $0.5 million, with orders received from both domestic and international customers.

As a result, the company is forecasting to hit $2 million in sales by the end of the calendar year of 2021. This marks a significant jump on the $0.58 million recorded for the first-half of FY21.

In order to cater for the surging demand, ECS is currently expanding its premium dried flower cultivation capacity. Construction of 2,000 square meters of protective cropping enclosures will add to the company’s existing 1,000 square meter facility. The additional room allows ECS to cultivate specific strains of the medicinal cannabis premium dried flower for its customers.

Furthermore, the company is also extending its Good Manufacturing Practice (GMP) licence to include packing dried flower products.

ECS managing director, Alex Keach commented:

The sales performance from our Victorian facility is very encouraging and demonstrates the growing appeal for Australian grown products. Based on the orders received and the increased enquiries from local and European customers, we are increasing our premium dried flower cultivation capacity threefold. There is significant momentum in the business and several developments are imminent.

ECS share price summary

The ECS shares rocketed higher in the last 6 months, before coming back to early December levels. This wild share price rise was attributed to the company’s takeover announcement of Murray Meds.

Looking at a longer timeframe, ECS shares have soared by more than 50% in the last 12 months.

The post Why the ECS Botanics (ASX:ECS) share price is smoking the ASX today appeared first on The Motley Fool Australia.

More reading

• Here’s what’s driving the BPH Energy (ASX:BPH) share price today
• This tumbling ASX fintech should be 3 times current price: analyst
• Here’s why the Whitehaven Coal (ASX:WHC) share price is on fire this week
• Splitit (ASX:SPT) share price higher on BNPL network partnership
• Mercury (ASX:MCY) share price falls after earnings downgrade

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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Shares in BPH Energy Ltd (ASX: BPH) are gaining today, following news the company is tendering for drilling services at the Baleen Prospect. At the time of writing, the BPH share price is $0.9 ­– 2.27% higher than yesterday’s closing.

Located off the coast of Newcastle, the Baleen Prospect is a joint venture between BPH’s investee company, Advent Energy Ltd, and Bounty Oil & Gas NL (ASX: BUY). The majority of the license to explore the Baleen Prospect is held by Advent at 85%, while 15% is held by Bounty. 

Let’s take a closer look at today’s news from BPH.

Baleen tender

According to today’s announcement, the Baleen-1 well is to be drilled in 125 metres of water – taking around 40 days to reach its total depth.

A tender for the supply of drilling services has been sent to multiple companies with drilling equipment in the area.

The drilling is the first physical step of the prospect’s exploration, and is being conducted with two objectives. First, for an expected gas target. Last month, a review of a Geoscience Australia research report found the companies have a high likelihood of striking gas at the Baleen Prospect.

The second objective is for carbon capture storage (CCS). If the well is found suitable for CCS it could offer the potential for carbon sequestration near the Sydney and Newcastle areas ­– where approximately one third of Australia’s carbon emissions are created.

BPH recognises that CCS has the potential to address climate change by lessening the impacts of carbon emissions.

BPH share price snapshot

The BPH share price has been performing well on the ASX lately, with today’s news bringing its latest boost.

Currently, the BPH share price is 109.3% higher than it was at the start of 2021. It has also gained 1,197.13% since this time last year.

The company has a market capitalisation of around $59 million, with approximately 664 million shares outstanding.

The post Here’s what’s driving the BPH Energy (ASX:BPH) share price today appeared first on The Motley Fool Australia.

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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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One ASX financial stock has been savaged in the past month but that just doesn’t match up with its fundamentals.

That’s according to Cyan Investment Management portfolio manager Dean Fergie, who’s frustrated by the market’s treatment of RAIZ Invest Ltd (ASX: RZI).

Over the month of May, the micro-investment app’s shares sank 13%, from $1.53 to $1.33.

“We have been somewhat perplexed by the weakness in consumer investment platform Raiz’s share price in recent months,” Fergie said in a memo to clients. 

“Raiz’s performance is at odds with a strong underlying market and the company’s continued growth in both FUM and customer numbers.”

He could only attribute the negative sentiment to “some indigestion and associated selling” from a $10 million share placement in late April.

US version of Raiz worth $2.8 billion

Raiz allows users to round-up everyday purchases and put those cents into investments such as shares.

It was originally the Australian version of US company Acorns. The local version rebranded and became independent of its American parent in 2018.

Acorns in the US announced recently that it would list on the NASDAQ via a special-purpose acquisition company (SPAC), in a deal that values the business at about US$2.2 billion ($2.8 billion).

To Fergie, that backed up his bullishness on Raiz.

“On similar valuation metrics such as customer numbers and FUM [funds under management], would value Raiz at somewhere around AUD$4 per share or 3 times its current pricing.”

Rest of market starting to wake up

It seems other investors have woken up to what Fergie is indicating.

Raiz shares rocketed 7.14% on Wednesday morning to trade at $1.50. That’s almost a 13% pick up in the first few days of June.

This week the company revealed funds under management have reached $750 million. According to Raiz, this keeps it on track to achieve its previously stated goal of $1 billion by the end of this year.

According to The Motley Fool’s Brooke Cooper, Raiz now has 76.2% more funds under management than 12 months ago.

The post This tumbling ASX fintech should be 3 times current price: analyst appeared first on The Motley Fool Australia.

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• Here’s why the Raiz (ASX:RZI) share price has gained 5% today
• How does Raiz (ASX:RZI) stack up against its old friend Acorns?
• Why the Raiz (ASX:RZI) share price is edging lower

Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Whitehaven Coal Ltd (ASX: WHC) share price is on fire today. Whitehaven shares are currently up 13.82% at the time of writing to $1.94 a share after closing at $1.84 yesterday and opening at $1.88 this morning. Since Monday morning, Whitehaven shares are now up around 10.7%. They are also up a hefty 53.5% over the past month.

So what’s going so right for Whitehaven?

Haven for coal

Well, there’s one substantial catalyst for this recent run that we can point to – coal prices. Coal is currently fetching close to US$120 a tonne, its highest price in many years, and very close to its all-time high. Coal has risen substantially over the past year or so, and even in the past month. This is likely to be contributing to Whitehaven’s strong run over the past few weeks and months.

As the Fool covered this week, we can thank strong demand from China and some scattered supply squeezes combining to push coal to its current heights. That’s despite China refusing to accept Australian coal at the current time due to the trade animosity and diplomatic disputes that have been afflicting the two countries’ bilateral relationship over the past year or so.

But this refusal of the Chinese government to accept Australian coal is only helping to distort supply chains and push coal prices higher.

Another factor that may be contributing to investors bullishness over Whitehaven could be its directors – namely one director in George Raymond Zage III. Mr Zage has recently been on a buying spree when it comes to Whitehaven shares. According to ASX notices, Mr Zage picked up just over 883,000 Whitehaven shares back in May, and another 350,000 earlier this month. He now holds roughly 10 million Whitehaven shares (worth close to $20 million on today’s pricing).

That’s arguably a pretty strong case of a director ‘putting their money where their mouth is’ when it comes to their company, and this would have likely piqued at least some investor interest. ASX investors typically love to see a company’s management team buy more shares (and hate the opposite situation), and so these actions are also a likely contributing factor to Whitehaven’s recent share price strength.

About the Whitehaven Coal share price

At the current Whitehaven Coal share price, the company has a market capitalisation of $2 billion. Even though Whitehaven has enjoyed some substantial gains in recent weeks, the company remains down around 67% from its all-time high above $7 a share that we saw back in 2011. Even so, Whitehaven is still up around 130% from its 52-week low of 85 cents.

The post Here’s why the Whitehaven Coal (ASX:WHC) share price is on fire this week appeared first on The Motley Fool Australia.

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

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The Splitit Ltd (ASX: SPT) share price has been a positive performer on Wednesday after the US-based buy now, pay later (BNPL) company announced a new partnership.

At the time of writing, the Splitit share price is 3.28% higher to 63 cents.

Splitit joins the ChargeAfter network

ChargeAfter is a network of global lenders and retailers that offers BNPL and point-of-sale financing to customers, both online and in-store. Its platform delivers the most relevant financing options to its customers at checkout from its pool of lenders based on credit type.

Through this partnership, merchants using ChargeAfter can now offer their customers Splitit services. The announcement highlights that Splitit will be the first financing-free installment payment option on the platform.

Splitit believes this will offer customers a more “flexible way to leverage the hard-earned credit on their existing credit cards to spread payments out over time”. The service also means customers can continue to earn rewards points or other benefits from their credit cards.

For merchants, Splitit says that its services help lift key spending metrics of higher-value customers. The update mentions that the company has an average order value of over $1,000, or more than four times most other BNPL alternatives.

Splitit CEO Brad Paterson commented:

Not every consumer is looking to open a new line of credit for the purchase and just want a smarter way to use the credit they have already earned. We serve this type of shopper by giving them the flexibility to use their existing credit cards to spread payments over time without additional fees.

A rough 12 months for the Splitit share price

The Splitit share price has shed more than 70% in value since its September 2020 highs of $1.93.

Most of its underperformance came about during February and March this year, when leading players such as Afterpay Ltd (ASX: APT) and Zip Co Ltd (ASX: Z1P) began to sell off.

The post Splitit (ASX:SPT) share price higher on BNPL network partnership appeared first on The Motley Fool Australia.

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• Why is the Zip (ASX:Z1P) share price down 11% so far this month?

Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO 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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Mercury NZ Ltd (ASX: MCY) shares are down late morning after the company downgraded its guidance for the 2021 financial year. At the time of writing, the Mercury share price is 3.94% lower than yesterday’s closing – with shares in the company swapping hands for $6.09.

It’s the second time this year the New Zealand electricity supplier has dropped its earnings guidance. Today, it has been reduced by 11.5%.

The company cited dry weather, an outage at its geothermal power station, elevated wholesale prices, and its acquisition of Tilt Renewables Ltd (ASX: TLT) as reasons for the downgrade.

Let’s take a closer look at the news that might be weighing on the Mercury share price today.

New guidance

Mercury announced this morning that its expected earnings before interest, tax, depreciation, amortisation, and financial instruments (EBITDAF) has fallen.

The company now expects EBITDAF of $420 million for the 2021 financial year – down from its previous guidance of $520 million.

This is the second time this year that Mercury has dropped its guidance. In February, Mercury downgraded its 2021 financial year guidance from $535 million to $520 million.

Why Mercury’s earnings have dropped

According to Mercury, its Kawerau geothermal power station’s unplanned outage is weighing on its earnings.

The power station’s outage is said to have been caused by a mechanical failure on Monday. It is expected to be out of action for months. Mercury says it will update the market on when the Kawerau power station will be back in operation once it knows more.

Additionally, Mercury stated its EBITDAF has been hindered by Tilt Renewables’ higher associated earnings.

Previously, Mercury and AGL Energy Limited‘s (ASX: AGL) subsidiary, PowAR, were set to acquire Tilt for NZ$7.80 per share. Following the acquisition, Mercury was to operate Tilt’s New Zealand-based assets, while PowAR was to take over its Australian-based operations.

In April, following reports a Canadian pension fund had offered Tilt NZ $8.00 per share, Mercury stepped back from the acquisition and PowAR increased its offer to NZ$8.10 per share.

Now, Mercury will buy Tilt’s New Zealand-based assets from PowAR once the acquisition is complete. The workaround increased the cost of Mercury’s purchase by NZ$27 million.  

Further, dry weather in the Taupo catchment has caused Mercury’s full-year hydro generation guidance to fall by 200 gigawatt hours. Mercury now expects to generate 3,600 gigawatt hours of hydro energy this financial year.

Finally, increasing wholesale prices have added to Mercury’s woes. The company stated spot prices for the fourth quarter of the 2021 financial year to date are averaging at around $285 per megawatt hour in Auckland.

Mercury share price snapshot

The Mercury share price has not had a great run in 2021, falling 2.87% since the start of the year. However, it has still gained 35.33% since this time last year.

The electricity supplier has a market capitalisation of nearly $8.3 billion, with approximately 1.36 billion shares outstanding.

The post Mercury (ASX:MCY) share price falls after earnings downgrade appeared first on The Motley Fool Australia.

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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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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.

In conjunction with its first-quarter earnings release, NVIDIA (NASDAQ: NVDA) revealed plans for a four-for-one stock split, with the intention of making its shares “more accessible to investors and employees.” The move was conditional on obtaining shareholder approval at the chipmaker’s 2021 annual stockholders meeting, which took place on Thursday, June 3, as it required an increase in the number of authorized shares of common stock from 2 billion to 4 billion. 

The votes have been tallied, and in a regulatory filing submitted after the market close yesterday, NVIDIA announced that “our stockholders approved an amendment … to increase the number of authorized shares of common stock.” Here’s what happens next. 

The stock split will be payable in the form of a stock dividend. Each shareholder of record as of June 21 will receive an additional three shares of stock for every share held. The shares will be distributed after the market close on July 19, and the newly split shares will begin trading when the market opens on Tuesday, July 20. 

Existing shareholders won’t have to do anything to receive the additional shares, which will be deposited directly into their brokerage accounts once the stock split takes effect. It’s important to note that investors shouldn’t necessarily expect the new shares to appear in their account immediately after the market close on July 19. As internal processes differ from brokerage to brokerage, it may take as many as several days for the new shares to show up in investor accounts.

Finally, investors should remember that a stock split does nothing to change the value of the underlying business, but merely divides it into a great number of ownership portions. As an example, NVIDIA shares have lately been trading for roughly $700. This means instead of having one share worth $700, shareholders would own four shares, each worth $175.

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

The post Shareholders approve NVIDIA stock split. Here’s what happens next appeared first on The Motley Fool Australia.

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Danny Vena owns shares of NVIDIA. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended NVIDIA. The Motley Fool Australia has recommended NVIDIA. 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 National Storage REIT (ASX: NSR) share price has returned to trading following the company’s completed Institutional Entitlement Offer.

At the time of writing, the self-storage provider’s shares are swapping hands for $2.05, down 1.44%.

National Storage share price resumes

It’s been a disappointing day for National Storage shares, with investors selling their holdings amid the company’s successful equity raise.

According to its release, National Storage has raised gross proceeds of approximately $260 million through the accelerated non-renounceable entitlement offer.

The institutional component sees 1 share issued for every 6.27 National Storage shares owned. Issued at a price of $2.00 apiece, the majority of eligible institutional security holders took up their allocated minimum entitlements.

The newly created shares will be allotted to accounts on 23 June, and available to trade on the same day.

With the Institutional Entitlement Offer now completed, the retail component will commence on 15 June 2021. Hoping to raise an additional $65 million, National Storage will offer the same terms and ratio of shares to eligible retail shareholders. The Retail Entitlement Offer is expected to close on 24 June.

In total, the company is aiming to raise $325 million to repay debt and provide further liquidity on its balance sheet.

National Storage managing director, Andrew Catsoulis commented:

We are very appreciative of the huge amount of support received for National Storage and its growth strategy from both existing and new institutional shareholders. The equity raising will allow National Storage to strengthen the balance sheet, replenish investment capacity and provide additional funding flexibility going forward.

About the National Storage share price

Despite the small and sharp share price movements, National Storage shares are up by 7% over the last 12 months. Year-to-date share price performance is also similar, increasing by more than 6%.

National Storage presides a market capitalisation of roughly $2 billion, ranking 186 in terms of company value on the ASX.

The post National Storage (ASX:NSR) share price returns on equity raising efforts 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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