Are you wanting to boost your portfolio with some top growth shares, then you may want to look at the two listed below.

Here’s why these top ASX growth shares have been tipped as ones to buy right now:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

This leading pizza chain operator could be a quality option for growth investors.

Thanks to its dominance of the local market and its expanding international operations, Domino’s has been growing its sales and earnings at a solid rate over the last decade.

The good news is that management doesn’t believe its growth is anywhere near complete. In fact, the company still believes it can double its store footprint over the next ten years or so. And that’s just in the markets it is currently active. It is also looking for acquisition opportunities which could give it an even larger footprint in the future.

One broker that sees value in its shares is Morgans. It currently has an add rating and $119.00 price target on its shares. This compares to the current Domino’s share price of $106.08.

Zip Co Ltd (ASX: Z1P)

Another ASX growth share that is rated highly is Zip. It is a fast-growing buy now pay later (BNPL) provider with operations across the world.

While its local operations are undoubtedly strong, it is the company’s US-based Quadpay business which is getting investors excited.

Quadpay has been growing at a rapid rate since its acquisition. Pleasingly, with a $5 trillion market opportunity in the US, there’s still a significant runway for growth ahead of it.

In addition to this, the company has recently launched in the UK and has plans to enter other regions in the future.

Morgans is also very positive on Zip. So much so, last week the broker put an add rating and $10.39 price target on its shares. This compares to the latest Zip share price of $8.89.

More reading

• Why your ASX 200 shares aren’t going up with the market 
• Why Megaport, Pointerra, Regis Resources, & Zip are charging higher
• Zip Pay (ASX:Z1P) share price rising after ‘global leader’ agreement
• BrainChip and Zip were among the most traded ASX shares last week
• Why Accent, Bank of Queensland, Freelancer, & Zip shares are pushing higher

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 ZIPCOLTD FPO. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why Zip (ASX:Z1P) and this ASX growth share are rated highly appeared first on The Motley Fool Australia.

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Australia is continuing to face delays of its COVID-19 vaccine rollout and it’s likely to cost the country billions.

Australia’s vaccine rollout was already delayed before the AstraZeneca vaccine was found to put those under 50 at risk of deadly blood clots.

A report by the McKell Institute has found the original delays in our vaccine rollout could result in 15 days of lockdown – each costing the economy more than $123 million.

Now, the golden egg in our basket has broken, what could the economic impact be?

How delayed is Australia’s vaccine rollout so far?

Originally, 4 million Australians were to be vaccinated by the end of March.  Instead, just 1.65 million Australians have been vaccinated. 

The McKell Institute’s report, Counting the Cost of Australia’s Delayed Vaccine Rollout, found to avoid more lockdowns at least 65% of Australians must be vaccinated.

If the rollout continues at its current speed that could take approximately 518 days, or just under 1.5 years.

For Australia to be fully vaccinated by October, the vaccination rollout would have to be up to 15 times faster.

What could delays cost Australia’s economy?

The report found, so far, 13.7% of days have seen an Australian capital city in a COVID-19-induced lockdown.

When most front-line healthcare and quarantine workers receive vaccines, the percentage of likely days in lockdown decreases to approximately 9.5%. 

The report also tallied the costs of various lockdowns around Australia. It found a conservative figure would be roughly $123 million per day.

If Australia’s vaccine rollout continues at its current speed, Australian capitals could see another 49 days of lockdown. This could potentially cost the economy more than $6 billion.

Even if Australia increased its vaccination rollout to 15 times its current speed tomorrow, we would likely see an extra 11.1 days of lockdowns – costing upwards of $1.36 billion.

More reading

• ASX 200 recovers, Redbubble sinks, Megaport jumps
• 2 high quality ASX shares for your retirement portfolio
• Why the Computershare (ASX:CPU) share price will be on watch on Friday
• Aussie adds digital home loans in an effort to keep up with the big four
• 2 exciting e-commerce ASX shares growing rapidly

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The S&P/ASX 200 Index (ASX: XJO) rose 0.8% to 7,055 points, despite being down earlier in the day.

Here are some of the highlights from the ASX today:

Megaport Ltd (ASX: MP1)

The Megaport share price went up by almost 10% after releasing its quarterly update.

In the three months to 31 March 2021, it saw 8% quarter on quarter growth of its monthly recurring revenue to $6.8 million. Total revenue went up 5% to $19.6 million compared to the second quarter of FY21. In March 2021, its customer number reached 2,117, an increase of 4% quarter on quarter. The number of ports rose 5% quarter on quarter, whilst total services went up 4%.

Megaport CEO Vincent English said:

As we enter the final quarter of FY21, we have a strong pipeline of new customers, driven by increased requirements from digital transformation initiatives. We see this as an indication that enterprises now have greater line of sight to post-pandemic normal and that overall IT budgets are improving. Our growth in ports and underlying revenue in the second half of the third quarter was strong, and we expect to see this trend continue.

Mr English went on to say that it’s on track to be breakeven on the earnings before interest, tax, depreciation and amortisation (EBITDA) level on an annualised basis, by June 2021.

Megaport was the best performer in the ASX 200.

Redbubble Ltd (ASX: RBL)

The Redbubble share price fell 23% today after revealing a trading update as well as a strategy shift.

Redbubble noted that its business is seasonal when delivering its third quarter numbers.

Marketplace revenue went up 54% to $103.4 million and gross profit grew 55% to $39.8 million. EBITDA rose $8.5 million to $2.2 million and earnings before interest and tax (EBIT) climbed 91% to a loss of $0.9 million.

Redbubble is determined to create the world’s largest marketplace for independent artists and it’s going to invest heavily to do so. The company believes that it has an enormous addressable market with consumer goods. It sees tremendous potential benefits from growing the business over the medium and long term.

The new ASX 200 share wants to generate a lot of revenue growth, with a target of $1.25 billion of marketplace revenue over the medium-term.

It’s going to invest, but this is going to mean that the EBITDA margin (of marketplace revenue) will remain in the mid single digit range over an annual period.

When it reaches $1.25 billion of marketplace revenue, it expects to generate EBITDA margins of 10% to 15%.

Australian Pharmaceutical Industries Ltd (ASX: API)

The API share price fell over 1% after the business announced its FY21 half-year result.

COVID-19 has impacted its CBD and large shopping centre stores, causing a decline in foot traffic and sales.

Total revenue was down 2.6% to $2 billion. EBIT dropped 25.2% to $29.4 million and net profit after tax (NPAT) fell 29.3% to $15.9 million.

The business has been working on reducing costs and investing in online capabilities. It’s also opening new Clear Skincare clinics to fuel future growth.

API’s board decided to pay a dividend of 1.5 cents per share. This was an increase from last year where no dividend was paid due to COVID-19.

The pharmacy business said that it remains confident about the growth potential of its two retail businesses and the reliability of its pharmacy distribution cash-generating business.

More reading

• 2 exciting e-commerce ASX shares growing rapidly
• Wesfarmers’ (ASX:WES) Bunnings open to hosting COVID vaccine hubs
• Redbubble (ASX:RBL) share price crashes 20% on increased investments
• Why Megaport, Pointerra, Regis Resources, & Zip are charging higher
• Why AMP, Challenger, Pilbara Minerals, & Redbubble shares are tumbling lower

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends MEGAPORT FPO. The Motley Fool Australia has recommended MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post ASX 200 recovers, Redbubble sinks, Megaport jumps appeared first on The Motley Fool Australia.

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If you’re in retirement or approaching it, you may be looking for a combination of capital gains and income.

But which ASX shares could help you achieve this? Two top options for retirees to look at are listed below. Here’s what you need to know about them:

Collins Foods Ltd (ASX: CKF)

Collins Foods could be a good option for a retirement portfolio. It is a quick service restaurant operator with a focus on KFC restaurants. This focus is working wonders for the company and has underpinned solid earnings and dividend growth over the last few years.

Positively, this has continued in FY 2021. For example, during the first half of FY 2021, it reported an 11.3% increase in revenue and a 15.1% lift in underlying net profit after tax.

The good news is that the company still has a long runway for growth both at home and in the underpenetrated European market.

One broker that is a fan of Collins Foods is UBS. It currently has a buy rating and $11.65 price target on its shares.

UBS is also forecasting a fully franked dividend of 22 cents per share in FY 2021. Based on the latest Collins Foods share price, this represents a ~2% dividend yield.

Wesfarmers Ltd (ASX: WES)

Another ASX share to consider for a retirement portfolio is Wesfarmers. This conglomerate has been growing at a solid rate for many years and has been tipped to continue doing so over the next decade.

This is due to its portfolio of leading retail brands such as Bunnings, Catch, and Kmart. In addition, supporting this growth will be its industrial businesses and its investments in the lithium space.

Another positive is the company’s balance sheet, which provides it with significant firepower for earnings accretive acquisitions.

Earlier this week Goldman Sachs retained its buy rating and $59.70 price target on the company’s shares. The broker also advised that it is forecasting a fully franked dividend yield of ~3% for the next 12 months. This certainly is an attractive yield in the current environment.

More reading

• Wesfarmers’ (ASX:WES) Bunnings open to hosting COVID vaccine hubs
• Popeyes down under? Collins Foods’ (ASX:CKF) KFC may have a new competitor
• What’s happening with the Wesfarmers (ASX:WES) share price today?
• Why the Wesfarmers (ASX:WES) share price is edging higher
• Top broker thinks Wesfarmers (ASX:WES) share price is good value

Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia owns shares of Wesfarmers Limited. The Motley Fool Australia has recommended Collins Foods 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 Computershare Ltd (ASX: CPU) share price will be one to watch on Friday.

This follows the release of an announcement after the market close relating to its acquisition of the Wells Fargo Corporate Trust Services business.

What did Computershare announce?

This afternoon Computershare announced the completion of the retail component of its underwritten 1 for 8.8 pro-rata accelerated renounceable entitlement offer.

The entitlement offer was aiming to raise approximately A$835 million (US$634 million) via a $500 million institutional entitlement offer and a $335 million retail entitlement offer.

Computershare successfully completed the institutional component at the end of last month, raising the funds at $15.05 per new share.

However, retail investors weren’t as interested in the offer.

According to the release, approximately 14,900 eligible retail shareholders elected to partially or fully take up their retail entitlements, subscribing for approximately 13.8 million new shares and raising approximately A$187.6 million.

This represents an aggregate participation rate of approximately 56% by value and approximately 41% by shareholder numbers.

What now?

Approximately 10.9 million retail entitlements not taken up by eligible retail shareholders will be offered for sale in a retail shortfall bookbuild.

Retail entitlements will be auctioned in a retail shortfall bookbuild, which will be a variable price bookbuild commencing with a floor price of $13.55 per new share. This will be conducted after the market close today.

After which, the company can focus on completing the acquisition of the Wells Fargo Corporate Trust Services business by the second quarter of FY 2022.

Is it a good acquisition?

Computershare’s CEO, Stuart Irving, believes the acquisition will be a big positive for the company’s North American operations.

Last month he said: “We are delighted to announce the acquisition of Wells Fargo Corporate Trust Services. It is a clear fit with our successful Canadian corporate trust operations and existing US operations. CTS provides scale with a top four market position, a platform for ongoing growth and increased leverage to long term growth trends and interest rates.”

‘The Acquisition allows us to integrate CTS’ deep client relationships and market expertise to deliver additional recurring fee revenue. We also see the potential for improved returns and margin expansion through new product development and innovative technologies, Computershare’s core competencies. We welcome the proven and experienced CTS team to Computershare, and we look forward to working with them as we deliver on our growth strategy.”

More reading

• 3 latest ASX shares that top brokers have upgraded to “buy” today
• Why ASX 200 tech shares are vital to manufacturers’ reshoring plans
• Why Computershare, Macquarie, Race Oncology, & Webjet are tumbling lower
• ASX 200 down 0.1%: Computershare raises $500m, REA Group announces acquisition
• Why the Computershare (ASX:CPU) share price is on watch today

Motley Fool contributor James Mickleboro 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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Aussie is looking to keep up with the times and the other major banks. The Sydney-based financial group is dipping its toes into digital home loan lending, as reported by The AFR.

The housing bull market continues to boom, so much so that whispers of regulator intervention are lingering. But for now, banks are clambering to scoop up all those new-to-market buyers. In this modern era, digital home loans are a crucial offering to do exactly that.

Tic: Toc our way to a home loan

Not to be mistaken for the social media giant, TikTok. The Adelaide-based fintech Tic: Toc is a direct-to-customer platform that allows lenders and brokers to fulfil responsible lending obligations.

Additionally, the front end of Tic: Toc acts as a seamless home loan application portal. The point being, the fintech’s technology also serves as an accelerator for lenders in the digital age.

Bendigo and Adelaide Bank Ltd (ASX: BEN) holds a 28% stake in Tic: Toc. The technology has helped the bank grow its loan book to $600 million — increasing at 8% to 10% per month.

Although start-to-finish digital mortgages are still a niche portion of the lending market, this expected to grow rapidly. A survey conducted by KPMG found digital to be the preferred channel for all stages of the mortgage experience — with 58% wanting to apply for a mortgage online.

Stiff competition

Aussie might be jumping on the trend a little late, with already established rivals in the form of Athena Home Loans and Homeloans.com.au, owned by Resimac Group Ltd (ASX: RMC). However, it is important for Aussie to remain competitive with the likes of the Commonwealth Bank of Australia (ASX: CBA).

In February, CBA reported in its interim results that it was gobbling up home loans at a blistering pace. During the half, Commonwealth Bank added $53 billion in new housing lending, an increase of 8% on the prior half.

At the moment, Aussie is a solely owned subsidiary of CBA. That will change if the big bank’s divestment is approved by the Australian Competition and Consumer Commission. At which point CBA would be left with a 45% minority stake.

Aussie plans to merge with Lendi, another mortgage broker, to form a single entity with an $80 billion loan book.

Aussie CEO’s take on home loan shift

In an interview with The AFR, Aussie CEO James Symond saught to bring ease to the concerns of the bank’s broker network. Digital disruption is great for people, aside from those that it replaces. That appears to be the tension in the air. Whether increased technological growth will lead to consolidation in the future, Mr Symond stated:

Time will tell, but at the moment, we have way more customer inquiries than we can handle. I would be very surprised if any brokers says they are losing business to an online channel right now. They are dealing with as much as they can consume and this will actually help our brokers.

More reading

• Aussie investors snapped up Coinbase (NASDAQ:COIN) shares last week
• Westpac, ANZ, CBA share prices dip after class action for ‘junk’ insurance
• ANZ Bank’s (ASX:ANZ) profit result could get an extra boost: Macquarie
• Why the Commonwealth Bank (ASX:CBA) share price is flying right now
• 3 sectors Aussies are splashing cash on right now

Motley Fool contributor Mitchell Lawler owns shares of Commonwealth Bank of Australia. 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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There are a few e-commerce ASX shares out there that are generating a lot of revenue growth and want to grow even more.

Both of the businesses that are in this article say they want to invest to capture more market share and then generate higher margins down the line.

In a few years, these two businesses plan to be much bigger:

Redbubble Ltd (ASX: RBL)

The Redbubble share price is down over 21% to $4.32 today. That was after revealing its FY21 third quarter update and a new strategy.

It said that in the third quarter its marketplace revenue rose 54% to $103.4 million, with earnings before interest, tax, depreciation and amortisation (EBITDA) rising $8.5 million to $2.2 million. Earnings before interest and tax (EBIT) jumped 91% to a loss of $0.9 million.

Management have decided on a strategy to invest heavily, whilst still making a modest profit, to grow the business faster. This is going to lead to lower EBITDA margins in the next couple of years.

The e-commerce ASX share wants to enhance the customer experience by investing in an improved digital and physical experience, whilst also focusing on loyalty and repeat purchases.

Another aim is to continue to grow in core markets. This will be achieved with consistent and selective additions of new physical products, as well as improvements to third party fulfilment and logistics networks.

The other area of focus will be amplifying growth by growing customer numbers. This will be achieved through brand marketing to increase awareness and trial. Redbubble also plans to expand into new geographies.

Temple & Webster Group Ltd (ASX: TPW)

Temple & Webster is another e-commerce ASX share that’s growing rapidly. The furniture retail and e-commerce business is seeing rapid growth too.

The business saw 112% growth of third quarter revenue, with active customers going up to 750,000. It also saw April 2021 revenue growth of more than 20% – management noted that the comparative month (April 2020) was the fastest growing month last year due to the nationwide lockdowns implemented during March 2020.

One of the things that Temple & Webster highlighted was that the customers that have signed up during COVID-19 continue to perform better for the business than the customers that have been around longer.

Management are expecting that the online penetration in Australia is expected to continue to increase significantly.

The e-commerce ASX share is also planning to invest heavily for future growth. Higher spending on marketing will be one initiative. Strengthening its customer experience through enhanced technology, data, personalisation and the delivery experience. It’s going to invest in 3D and artificial intelligence capabilities which will make the customer shopping journey easier.

Temple & Webster plans to further differentiate its product range through new category additions, private label expansion, new product development and launching exclusive ranges with its key drop ship suppliers. Management also want to grow business to business sales and operational teams to capitalise on returning demand in the commercial sector.

During this scale up phase, Temple & Webster is focused on revenue growth and market share. This means that EBITDA margins will remain low. Over the longer-term it expects higher levels of profitability than have been previously seen due to greater scale benefits.

More reading

• Redbubble (ASX:RBL) share price crashes 20% on increased investments
• Why AMP, Challenger, Pilbara Minerals, & Redbubble shares are tumbling lower
• ASX 200 up 0.2%: AMP sinks, Redbubble crashes, Megaport jumps
• Redbubble (ASX:RBL) share price crashes 12% on Q3 update
• Why Challenger, Nuix, Splitit, & Temple & Webster are sinking

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Temple & Webster Group Ltd. The Motley Fool Australia has recommended Temple & Webster Group 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 S&P/ASX200 (INDEX: XJO) has pushed 3% higher in April and 5% higher year-to-date to above the 7,000 mark.

However, it sometimes doesn’t feel like a broad-based rally for all ASX200 shares. Here’s why your ASX 200 shares might be sitting on the sidelines. 

A selective market 

Not all sectors and ASX 200 shares are created equal. When it comes to the ASX 200, the index is heavily concentrated towards financials, notably the big 4 banks. A 1-2% swing in the big 4 banks can give the illusion that the broader market is doing well. However, this may not represent the performance of another sector such as tech or commodities. 

The big 4 banks have rebounded strongly in recent months and within 5% of pre-COVID highs. And thus, the ASX 200 has followed suit.

The S&P/ASX200 Info Tech (INDEX:ASX: XIJ) on the other hand, has had a relatively lacklustre performance in 2021. The tech index is down 1.2% year-to-date and down 9.50% from its peak in February. 

Too much attention on popular stocks 

Commsec’s weekly top traded Australian shares often has small cap and tech shares top the ranks.

Last week’s most traded ASX shares included Zip Co Ltd (ASX: Z1P), Betashares Nasdaq 100 ETF (ASX:NDQ), Brainchip Ltd (ASX: BRN), Afterpay Ltd (ASX: APT) and Fortescue Metals Group Ltd (ASX: FMG).

This feeds into the point that the Australian market is heavily skewed towards financials. Furthermore, this may not necessarily reflect the performance of the ASX200 shares that everyone’s looking at.

The 5% year-to-date increase in the ASX 200 compared to the 1.2% decline in the tech index might explain why some ASX 200 shares aren’t moving with the market. 

COVID-19 tempering growth and expectations  

COVID-19 saw a boom in many industries such as supermarkets and ecommerce. But as things slowly return to normal, investors can’t expect the company to deliver the same growth it did the year before. 

Last night, Netflix Inc (NASDAQ: NFLX) shares took a 7.4% dive after its quarterly earnings. The global streaming service added 3.98 million subscribers in the first quarter compared to its 6 million forecasts.

The company said that COVID-19 had accelerated its growth while people were stuck at home, but the opposite is now happening as vaccine programs are underway and social mobility returns. 

A number of ASX 200 shares in the tech, consumer discretionary, and consumer staples sectors might have experienced the same phenomenon. 

More reading

• Is the Afterpay (ASX:APT) share price fully valued?
• Why Megaport, Pointerra, Regis Resources, & Zip are charging higher
• Top brokers name 3 ASX shares to sell today
• Zip Pay (ASX:Z1P) share price rising after ‘global leader’ agreement
• Super profits tax risk rising for ASX miners as commodity prices chase record highs

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 BETANASDAQ ETF UNITS and ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended BETANASDAQ ETF UNITS. 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 Incannex Healthcare Ltd (ASX: IHL) share price is in reverse during late-afternoon trade. This comes despite the company’s positive pre-investigational new drug application (pre-IND) meeting with the United States Food and Drug Administration (FDA).

At the time of writing, the healthcare company’s shares are trading at 28.5 cents, down 1.7%. In comparison, the All Ordinaries Index (ASX: XAO) is 0.4% higher to 7,288 points.

FDA update

According to its release, Incannex announced it received positive feedback from the FDA Pre-IND meeting regarding the regulatory pathway for IHL-675A.

Incannex’s IHL-675A is a novel therapy that comprises hydroxychloroquine (HCQ) and cannabidiol (CBD). The medical therapy is being targeted for the potential treatment of Acute Respiratory Distress Syndrome (ARDS) and sepsis-associated Adult Respiratory Distress Syndrome (SAARDS).

ARDS is a type of respiratory failure which collects fluid into the air sacs of the lungs. This is often caused by infection or trauma and can result in death if not treated. It is estimated that 10% to 15% of patients admitted to intensive care suffering from ARDS.

SAARDS, caused by infection, is associated with lung, urinary tract, stomach, skin infections and COVID-19 viral infections.

Following guidance from the FDA, Incannex will expand its development program to see whether IHL-675A can become a multi-purpose drug. Pre-clinical results indicated a positive correlation between the IHL-675A therapy and various disorders. This includes pulmonary neutrophilia (lung disease), inflammatory bowel disease (IBD), and rheumatoid arthritis.

The company will combine its ARDS/SAARDS and pulmonary neutrophilia development activities into a common project titled ‘lung inflammation program’.

Moving ahead, Incannex has begun designing a phase 1 clinical study to assess the effects of IHL-675A in patients. The trial will form part of 3 distinct investigational new drug applications (NDA) and the associated studies needed for registration and marketing authority.

The FDA agreed that marketing applications for the multi-purpose drug should consist of 505(b)(2) applications. The 505(b)(2) NDA contains safety and effectiveness reports and allows to revert back to historical studies not conducted by Incannex for information needed.

The FDA stated that this is a less-costly alternative to registration and marketing approval as opposed to the 505(b)(1) pathway.

What did management say?

Incannex CEO and managing director, Joel Latham welcomed the feedback, saying:

The directors of Incannex are delighted with the positive feedback and encouragement from the FDA at the PIND meeting and will now move forward with conviction on our clinical programs to develop IHL-675A as a multi-use pharmaceutical.

The combined annual global market size of the indications being targeted by Incannex with IHL-675A is over US$125B so we consider the economic potential, as well as the benefit to patients over incumbent treatments, to be enormous.

Incannex share price snapshot

Over the past 12 months, the Incannex share price has surged close to 450%, with year-to-date gains sitting at 80%. The company’s shares reached a multi-year high of 30 cents this week and are currently a whisker away from breaking that feat again.

On valuation metrics, Incannex has a market capitalisation of around $296 million.

More reading

• Why the Incannex (ASX:IHL) share price is climbing 5% this morning

Motley Fool contributor Aaron Teboneras 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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Wesfarmers Ltd (ASX: WES) subsidiary Bunnings may make its car parks available for COVID-19 mass vaccination hubs.

This comes as the country grapples with its delayed vaccine rollout caused by supply problems, logistical issues, and possible links between the AstraZeneca PLC (LSE: AZN) vaccine and rare blood clotting events for those under 50.

Verandas, vanities and vaccines at Bunnings?

Wesfarmers has “an open offer” to aid with the vaccine rollout at its Bunnings stores, according to a report in The Guardian today.

With 306 locations across Australia, each presumably fairly large in area, it could be useful in progressing the country’s vaccination program. This is not the first time Bunnings has helped with the coronavirus response. It previously allowed some of its car parks to be used as testing facilities.

Bunnings chief operating officer Deb Poole told The Guardian the company would be happy to assist with the rollout any way it can.

“We’ve previously supported the government and the community by hosting COVID-19 testing in some of our store car parks, and we’re always open to discussing further support directly with the government,” Ms Poole said.

Bunnings has not formally approached the government with the proposal, nor has it been approached by state or federal leaders. Rather, the Wesfarmers subsidiary is open to assisting the government again if requested.

Professor Catherine Bennett, chair of epidemiology at Deakin University, told the publication the use of Bunnings car parks could “normalise the vaccination process”.

The professor went on to say suburban and regional warehouse locations would also be ideal for providing the Pfizer Inc (NYSE: PFE) vaccine.

The Health Department says vaccination rates may need to be as high as 95% to achieve herd immunity and stop the virus from spreading.

Achieving herd immunity is not just important for people’s health but also for the economy, and by extension, the S&P/ASX 200 (ASX: XJO).

Wesfarmers share price snapshot

At the time of writing, shares in Wesfarmers are swapping hands for $56.07, up 0.34%. Over the course of the past year, the share price has appreciated 53.8%. Just in the last month, the Wesfarmers share price increased more than 10%.

Alongside Bunnings, other Wesfarmers brands include Kmart, Officeworks, and Target. The company also has a minority interest in Coles Group Ltd (ASX: COL).

Wesfarmers has a market capitalisation of approximately $63 billion.

More reading

• Coles (ASX:COL) share price rises on “supercharged” renewable targets
• What’s happening with the Wesfarmers (ASX:WES) share price today?
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Motley Fool contributor Marc Sidarous has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET and Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Wesfarmers’ (ASX:WES) Bunnings open to hosting COVID vaccine hubs appeared first on The Motley Fool Australia.

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