As most of us would be aware, some ASX shares have a reputation for paying out relatively large dividends. Our unique system of franking is partially responsible.

When a company can get a tax deduction from a dividend, it’s hard for it to deny this to its clamouring shareholders.

That’s why the vast majority of S&P/ASX 200 Index (ASX: XJO) shares start paying dividends as soon as they can, and by as much as they can. But this is a rather unusual paradigm when you zoom out and look that the rest of the world. Especially in the United States.

All ten of the ASX 200’s top ten companies pay a dividend. And yet only five of the largest ten companies in the US S&P 500 Index (SP: .INX) do the same.

Sure, Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL), Facebook Inc (NASDAQ: FB), Berkshire Hathaway Inc (NYSE: BRK.A) (NYSE: BRK.B) and Amazon.com Inc (NASDAQ: AMZN) could pay a dividend if they wanted to. Each of these companies has tens of billions of dollars on their balance sheets. But they choose not to.

That’s why an exchange-traded fund (ETF) that covers this index, such as the iShares S&P 500 ETF (ASX: IVV), offers a pretty miserly trailing yield of 1.46% today.

Looking at this yield, it’s no wonder that many ASX dividend investors don’t bother with investing in US shares.

But it doesn’t have to be this way.

A juiced-up US dividend ETF

The BetaShares S&P 500 Yield Maximiser Fund (ASX: UMAX) is an ETF that aims to solve this problem. Yes, it invests in the same S&P 500 Index as IVV does. And yet it offers investors a trailing yield of 7.2% today. More than four times that of the iShares product.

How is that possible? Well, UMAX employs what’s known as an options strategy to squeeze a little more yield from the S&P 500 than a regular index-tracking ETF.

The fund writes call options on the S&P 500 that expire around three months from when written. According to BetaShares, these options are “expected to be approximately 2% to 5% above the then-current level of the index”.

If the index performs outside these expectations that the call options assume, the fund makes additional income, which it uses to juice up the dividend distributions it can pay.

Now if that’s all over your head, I wouldn’t blame you. It’s a bit of a neat trick the fund is attempting to pull off. But it does work to increase the income you can expect from a basket of US shares.

There’s no free lunch though

However, there’s no such thing as a free lunch. BetaShares states the following on this matter:

The Fund’s strategy is expected to outperform a strategy of holding the Share Portfolio alone (i.e. without writing index call options), in falling, flat andgradually rising markets. However, the Fund’s strategy can be expected to underperform in a strongly rising market.

And the fund is being a little optimistic, even here. BetaShares’ own data shows that UMAX has returned an average of 7.28% per annum over the past five years. The pure S&P 500 Index has returned an average of 13.61% per annum over the same period.

So long story short, it seems investors are giving up a disproportionate level of capital growth for a smaller boost in income. UMAX also charges a management fee of 0.79% per annum, whereas IVV charges just 0.04%.

Still, if dividend income is a priority for you and your investing strategy, this ETF remains worthy of consideration. And it also offers the benefits of increasing the diversification of an ASX dividend portfolio by including US companies, some of which are the best in the world.

More reading

• ASX 200 up 0.95%: Afterpay rises, Westpac’s APRA update, Qantas upgraded
• 435,000 Aussies bought their first shares during the pandemic
• 5 things to watch on the ASX 200 on Friday
• ASX 200 unmoved, Flight Centre soars, Afterpay keeps falling
• 3 blue chip ASX shares with dividend yields over 5% today

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Sebastian Bowen owns shares of Alphabet (A shares) and Facebook. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Alphabet (A shares), Amazon, Berkshire Hathaway (B shares), and Facebook and recommends the following options: short January 2023 $200 puts on Berkshire Hathaway (B shares), short March 2021 $225 calls on Berkshire Hathaway (B shares), long January 2022 $1920 calls on Amazon, short January 2022 $1940 calls on Amazon, and long January 2023 $200 calls on Berkshire Hathaway (B shares). The Motley Fool Australia owns shares of and has recommended BetaShares S&P500 Yield Maximiser. The Motley Fool Australia has recommended Alphabet (A shares), Amazon, Berkshire Hathaway (B shares), Facebook, and iShares Trust – iShares Core S&P 500 ETF. 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 Vitalharvest Freehold Trust (ASX: VTH) share price is flat today despite an ongoing fight to take over the company.

The lacklustre performance of the Vitalharvest share price also comes despite the All Ordinaries Index (ASX: XAO) trading 0.99% higher for the day so far and after a Macquarie Group Ltd (ASX: MQG) subsidiary upped its offer to take over the company.

At the time of writing, the agribusiness’ share price is sitting at $1.095.

What’s going on with the Vitalharvest share price?

The Sydney Morning Herald (SMH) is reporting Macquarie Infrastructure and Real Assets (MIRA) and private equity firm Roc are battling it out to takeover Vitalharvest. MIRA approached Vitalharvest back in November with an offer of $1.00 per share for the trust. The Vitalharvest share price back then was 96.5 cents.

Since that time, the share price has shot up by around 13% to be 9% higher than MIRA’s initial offer. Roc then entered the fray for the company, offering $1.08 per share. Macquarie has matched that price and offered a 2.5 cent distribution per unit for rental income for the six months to December.

Despite the added incentive of the dividend equivalent, shareholders do not seem to be convinced, with many apparently selling their shares at today’s market price – 1.5 cents above the MIRA offer.

In a statement to the SMH, a MIRA spokesperson said:

MIRA’s proposal delivers compelling value to Vitalharvest unitholders of $1.105 per unit, a 41% premium to the undisturbed trading price of VTH units. Our proposal is fully funded, ready to implement, recommended by the RE and Independent Expert and has the support of both the manager and the Trust’s sole tenant.

What is Vitalharvest?

Vitalharvest is a real estate investment trust (REIT) that focuses on real agriculture property assets. It leases its property to Costa Group Holdings Ltd (ASX: CGC). Costa is a major fresh fruit and vegetable supplier with operations both domestically and overseas. The company gave its blessing to Vitalharvest to sell the trust.

Agriculture commodity prices are predicted to continue their upward swing, much like they did last year.

Vitalharvest share price snapshot

This time last year, the Vitalharvest share price had a going rate of 68 cents. At today’s price, an investor would be seeing a 61% return on investment.

Vitalharvest has a market capitalisation of around $201.7 million.

More reading

• ASX 200 unmoved, Flight Centre soars, Afterpay keeps falling

Motley Fool contributor Marc Sidarous has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO and Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Betashares Climate Change Innovation ETF (ASX: ERTH) made its ASX debut yesterday, opening at $12.72. At the time of writing, ERTH shares have pushed 3.2% higher. This is, in part, thanks to a strong overnight performance in US and European markets. 

What’s so special about ERTH? 

The ASX ERTH ETF comprises a portfolio of up to 100 leading global companies. These companies derive at least 50% of their revenues from products and services that aim to tackle climate change and other environmental challenges. 

Many have pointed to tackling climate change as the next investment megatrend, including leading rare earths producer Lynas Rare Earths Ltd (ASX: LYC). The Lynas share price was one of the best performing ASX 200 shares last year, surging some ~80%. The company sees continued demand for its minerals through areas such as the accelerated demand for electric vehicles, expanding global wind and solar capacity and a growing consumer electronics market.

ERTH aims to provide its investors with exposure to this emerging megatrend where demand for environment-related goods and services is anticipated to rise strongly over the long term. 

Investors will be exposed to a broad range of clean solutions including clean/renewable energy, green transportation, water and waste improvements, decarbonisation-enabling solutions and sustainable products.

What companies does ERTH hold? 

The ASX ERTH ETF currently holds 90 companies and is heavily US concentrated (42.9%), likely due to the breadth and depth of companies available. The ETF has allocated approximately 60% of its funds into three sectors: capital goods, semiconductors and automobiles.

Its top ten holdings that make up approximately 40.3% of the fund include: 

• Trane Technologies PLC (NYSE: TT)
• Infineon Technologies AG (ETR: IFX)
• Zoom Video Communications Inc (NASDAQ: ZM)
• Cie De Saint-Gobain SA 
• DocuSign Inc (NASDAQ: DOCU)
• Tesla Inc (NASDAQ: TSLA)
• East Japan Railway Co 
• Nio Inc (NYSE: NIO)
• Vestas Wind Systems 
• Plug Power Inc

ERTH dodges recent market selloff

The recent tech and growth related selloff may have had a significant impact on the ASX ERTH ETF share price had it listed earlier. 

Renewable-related ETFs including the Global X Lithium & Battery Tech ETF (NYSEARCA: LIT), iShares PHLX Semiconductor ETF (NASDAQ: SOX) and Invesco Solar ETF (NYSEARCA: TAN) all slumped around 5%-20% in mid-February before staging a rebound in early-March. 

The ERTH ETF has been able to capture the recent rebound. At the time of writing, ERTH shares are up 3.13% to $13.19.

More reading

• Is the “rollercoaster over” for Lynas Rare Earths (ASX:LYC)?
• International Women’s Day: Which ASX companies are fighting gender inequality?
• Morgan Stanley reveals some investment trends to watch in 2021
• Shocking photo shows how quickly electric cars could take over
• Lynas (ASX:LYC) share price jumps 6% to new 52-week high

Motley Fool contributor Kerry Sun owns shares of Lynas Limited. 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 Coca-Cola Amatil Ltd (ASX: CCL) share price is pushing higher on Friday after releasing an update on its takeover approach.

At the time of writing, the beverage company’s shares are up almost 0.5% to $13.47.

What did Coca-Cola Amatil announce?

This afternoon Coca-Cola Amatil revealed that the Supreme Court of New South Wales has approved the convening of a scheme meeting.

At this scheme meeting, independent shareholders will be able to consider and vote on the company’s proposed acquisition by Coca-Cola European Partners (CCEP).

This follows the receipt of a $13.50 cash per share offer from CCEP in February, which was increased from a previous offer of $12.75 per share in November.

According to today’s release, shareholders will now have an opportunity to vote on the proposal next month. The company has announced that its scheme meeting will be held at 10am on 16 April.

What now?

The Supreme Court has also approved the distribution of an explanatory statement providing information about the scheme to independent shareholders. This will include a scheme booklet and also a copy of the independent expert’s report.

The Coca-Cola Amatil Independent Directors’ and Group Managing Director’s recommendation is that shareholders should vote in favour of the scheme.

They commented: “In the absence of a Superior Proposal and subject to the Independent Expert continuing to conclude that the Scheme is fair and reasonable and in the best interests of Independent Shareholders: the Amatil Related Party Committee continues to unanimously recommend that Independent Shareholders vote in favour of the Scheme; and the Amatil Group Managing Director, Ms Alison Watkins, also continues to recommend that Independent Shareholders vote in favour of the Scheme.”

Each Coca-Cola Amatil Related Party Committee Member and Ms Watkins intend to vote the shares they own or control in favour of the scheme.

More reading

• International Women’s Day: The female CEOs of the ASX
• Coca-Cola (ASX:CCL) pays out dividend, but what’s the catch?
• Why Atomos, Bendigo and Adelaide Bank, Coca-Cola Amatil, & Nearmap are racing higher
• Why is the Coca-Cola Amatil (ASX:CCL) share price gaining 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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BARD1 Life Sciences Ltd (ASX: BD1) shares are climbing today following a favourable outcome for the company’s hTERT test. At the time of writing, the BARD1 share price has leapt 6.34% to $3.86. 

Let’s take a closer look at what the diagnostics company announced.

What’s pushing the BARD1 share price higher?

Investors have been driving up the BARD1 share price after the company provided a positive announcement before market open.

According to its release, BARD1’s hTERT test has been granted Class II In-Vitro Diagnostic (IVD) medical device registration from South Korea’s Ministry of Food and Drug Safety (MFDS).

The pleasing result will now see the company’s hTERT product distributed across South Korea through Mirax Corporation (Mirax). Previously in late 2018, BARD1 entered an exclusive distribution agreement with Mirax for the hTERT test.

Under the initial terms of the deal, BARD1 received a purchase order from Mirax within two days of receiving IVD registration. The first lot of hTERT products is expected to generate revenue of $80,000 for BARD1.

Addressable market opportunity

The South Korean medical device market is considered to be a massive opportunity for BARD1. In 2018, the country’s medical device market was ranked as the ninth-largest in the world and valued at more than US$6.8 billion.

Urological cancer, including bladder cancer, is seen as an increasingly significant health problem in South Korea. A 2011 published report stated that urological cancer accounted for 8% of all known cancers in the country.

What did management say?

BARD1 CEO Dr Leearne Hinch hailed the company’s progress, saying:

Securing Korean registration and our first order from Mirax is the culmination of the BARD1 team’s dedication and effort to expanding the geographical footprint for hTERT in Asia. We are excited to be entering the Korean market and are looking forward to working with the Mirax team to build a strong franchise for hTERT in this key Asian healthcare market.

Mirax CEO Sang-Ju Bae continued on to add:

Mirax believes there is a significant opportunity for hTERT to become a key product in the bladder cancer diagnostic market in Korea. We are confident that the Mirax / BARD1 partnership can position hTERT as a valuable tool for cytologists, pathologists and urologists in the fight against bladder cancer.

Foolish takeaway

The BARD1 share price changed little over the course of 2020, however, in 2021, it has gained more than 460% year to date.

More reading

• These small cap ASX shares surged more than 100% in February
• BARD1 (ASX:BD1) share price plummets 15% on legal proceedings
• Why the BARD1 Life Sciences (ASX:BD1) share price is rocketing another 54% today

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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Roblox Corp (NYSE: RBLX) completed its initial public offering (IPO) and listed on the New York Stock Exchange on Wednesday.

The game platform boasts nearly 200 million monthly active users. For somewhat of a comparison, Call of Duty, which is owned by Activision Blizzard Inc (NASDAQ: ATVI) recorded 100 million monthly active users in the last months of 2020.

Roblox matches the description

Since this exchange-traded fund (ETF) is an actively managed fund, ARK Invest posts its position changes daily. As a result, we now know that Cathie Wood’s ARK Next Generation Internet ETF (NYSE: ARKW) nabbed 519,086 Roblox shares on the IPO day. But you might be asking why?

It might be hard to see how a digital world could be worth investing in. Furthermore, how Roblox could justify its now $40 billion market capitalisation – that’s right, just under half the size of Westpac Banking Corp (ASX: WBC).

Well for starters, there’s a lot of people playing the game. As this audience purchases in-game items, Roblox gains revenue – and lots of it! Roblox is expecting to hit US$1.5 billion in revenue for the year by the end of 2021.

Roblox also fits into one of ARK’s ‘Big Ideas 2021’ virtual worlds. By ARK’s definition, virtual worlds consist of video games, augmented reality, and virtual reality. Roblox is a virtual world, where people interact with each other through over 50 million user-created meta-games.

According to ARK, revenue from virtual worlds will compound at an annual rate of 17%, from US$180 billion at present to US$390 billion by 2025.

According to ARK, video games aren’t just for fun, they’re part of virtual worlds and investors should pay attention! Find out why in #BigIdeas2021. https://t.co/CjHbyYxBjK pic.twitter.com/ctM4lUSJTR

— ARK Invest (@ARKInvest) February 5, 2021

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

Video games becoming the ‘third place’

In ARK’s big ideas presentation, it notes the concept of the ‘third place’. A place that is separate from home and work, that people are creating a life around.

According to ARK’s research, time spent on video games for the average person will increase from 1.1 hours per day to 1.5 hours in the next five years. If this does in fact transpire, it will mean more time and likely more money being spent within these virtual environments. 

This trend was certainly catapulted forward by the COVID-19 pandemic. According to Verizon, video game internet traffic increased by 75% in America during lockdowns. Gaming giants like Roblox benefitted strongly from the circumstances, and growth doesn’t appear to be slowing down. For the first quarter of FY21, Roblox expects revenue to double to US$320 million. 

Based on ARK’s latest filing, Roblox holds a weighting of 0.47% in the next generation ETF. Will Cathie Wood increase its holding of Roblox shares, we will be watching to see. 

More reading

• Roblox stock surges on IPO

Mitchell Lawler 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 Activision Blizzard. The Motley Fool Australia has recommended Activision Blizzard. 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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Boom! Did you hear that?

That was the sound of Bitcoin (CRYPTO: BTC) breaking back above US$58,000 this morning.

According to data from CoinDesk, the world’s largest cryptocurrency by market cap hit US$58,150 (AU$74,550). In the past hour, it’s retraced some, back to US$57,830. Though by the time you read this it could be hundreds of dollars higher…or lower.

Such remains the volatile nature of these digital assets.

At its earlier price, Bitcoin was trading within a whisker of its all-time highs of US$58,330 set on 22 February this year.

What’s driving the record highs?

There’s no doubt that United States President Joe Biden’s US$1.9 trillion COVID recovery package has revived bullishness in the world’s share markets. And as we’ve witnessed in the past, when share markets roar, Bitcoin often charges higher.

According to Simon Peters, an analyst at multi-asset investment platform eToro (quoted by Bloomberg), “The announcement from the White House is very significant for risk assets in general, and crypto-assets specifically.”

Antoni Trenchev, managing partner and co-founder of crypto-lender Nexo adds, “Bitcoin’s resilience is proving to be the stuff of legend. Every correction is an opportunity to reset and restart the move upwards.”

While Bitcoin remains highly volatile and its future is hotly debated, the cryptocurrency has been buoyed by some high profile support of late.

Citi and Goldman Sachs analysts have given Bitcoin a positive nod, while Elon Musk’s Tesla Inc (NASDAQ: TSLA) bought US$1.5 billion worth of Bitcoin earlier this year. Blackrock, Morgan Stanley and Guggenheim have also come out in support of the digital asset.

According to Eleanor Creagh, Australian Market Strategist at Saxo Capital Markets, “In the long term, institutional and commercial support will further validate the cryptocurrency, increasing its popularity as a store of value and paving the path toward mass adoption.”

Bitcoin price snapshot

When you look at the recent Bitcoin price moves, you may be wishing for a time machine.

A mere two years ago, on 11 March 2019, Bitcoin was trading for US$3,900. One year ago it was worth US$5,700 and it wasn’t until the end of July 2020 that it broke through US$10,000.

In other words, a 1,390% price gain for Bitcoin over the past two years.

More reading

• Warning: Latest trap that could cost you more than 3% a year
• ASX 200 Weekly Wrap: ASX finishes higher, despite tech selloff
• Cryptocurrency, autonomous vehicles, and energy efficiency are key to NVIDIA’s growth
• Why this fund manager changed his mind on Bitcoin
• Goldman Sachs to relaunch trading in Bitcoin futures

Bernd Struben 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 Bitcoin and Tesla. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Volpara Health Technologies Ltd (ASX: VHT) share price looks set to end the week on a very positive note.

In early afternoon trade the healthcare technology company’s shares are up 7.5% to $1.42.

Why is the Volpara share price surging higher?

Investors have been buying Volpara’s shares this afternoon after it announced the signing of a major new contract.

According to the release, the company’s recently acquired CRA Health business has signed Volpara’s highest value contract to date.

CRA Health is a breast cancer risk assessment company that was spun out from Massachusetts General Hospital, a Harvard Medical School teaching hospital. Volpara announced its acquisition last month for US$18 million upfront and an additional US$4 million payable upon it meeting recurring revenue and staff retention targets over the next 18 months.

What was the contract?

The release explains that CRA Health has signed a contract that covers the provision of breast cancer risk scores to a large Indiana-based organisation.

The unnamed company has sites across more than 20 states and runs a major Electronic Health Record system. Management notes that the latter makes the deployment and implementation very cost effective.

The contract is worth over US$400,000 per year in Annual Recurring Revenue (ARR).

Volpara’s CEO, Dr Ralph Highnam, commented: “We are very pleased to announce that CRA Health has signed up a major US health system with significant ARR associated with it. Whilst we would not normally announce individual deals, this is the Volpara Group’s highest value contract signed to date.”

“Not only does it enable us to help many more women across the United States benefit from early cancer detection, but it also sets us up for future sales of additional products to this organization. Further, the contract is validation of the decision to purchase CRA Health and validation that the world is rapidly moving towards personalised breast care, which includes analysis of risk and genetics,” he concluded.

More reading

• Why Flight Centre, Qantas, ResApp, & Volpara are racing higher
• Why the Volpara (ASX:VHT) share price is pushing higher today
• Is it time to buy these 2 hot ASX healthcare shares?
• 2 fast-growing small cap ASX shares to watch
• 2 exciting ASX tech shares to buy

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 recommends VOLPARA FPO NZ. The Motley Fool Australia has recommended VOLPARA FPO NZ. 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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New World Resources Ltd (ASX: NWC) shares are flying this morning after the company announced it has found a ‘massive’ copper-zinc deposit. As of writing, the New World share price has leapt 8.3% to 6.3 cents.

In earlier trade, the company’s shares rallied as high as 6.8 cents to hit a new, 52-week high before partially retreating. In comparison, the S&P/ASX All Ordinaries Index is up 0.99%.

Let’s take a closer look at what the mining company announced.

What did New World announce?

The New World Resources share price is on the rise after the miner declared it has found “new deep massive sulphide intercepts” at its Antler Copper Project in Arizona.

The company claims it has been continuously drilling the site for the last 6 to 8 months. In that time, in deeper extraction points, it has discovered at least a 23.3 metre thick ore containing 6.7% copper equivalent and a 23.1 metre thick ore containing 4.5% copper equivalent.

In its announcement, New World claims it “intersected more than 17 metres of very well mineralised material…”

At its secondary drill site in Antler, the company also stated its belief that mineralisation quality is improving at deeper levels.

New World managing director Mike Haynes said of the result:

This is another significant achievement in our exploration of the Antler Copper Deposit. In the past week, we have completed the deepest holes we have drilled so far… These holes have both intersected more than 17m of very good-looking mineralisation.

He added:

This bodes well for the potential to expand the resource base at Antler. And the thick, high-grade, nature of the mineralisation intersected should continue to positively impact the economics of our plans to resume mining operations in the near term.

Copper’s commodity price is soaring

The website Trading Economics lists the price of copper in the commodities market at US$4.15 per pound. It’s up by 2.5% today, by nearly 9% in the past month and by 17.8% over the course of the year.

Copper, along with lithium and rhodium, is becoming more valuable as consumers and industries increase their focus on moving towards a greener, climate-friendly future. Many expect the price of copper to continue to increase as demand recovers from the COVID-19 pandemic, and supply constricts due to labour unrest in Chile.

New World share price snapshot

This time last year, the New World share price was sitting at 0.9 cents. At today’s market price, the company has increased its value by a whopping 622%. New World shares hit a 52-week high of 6.6 cents at the beginning of this year before breaching this record in intraday trading today.

New World Resources has a market capitalisation of around $80 million.

More reading

• ASX 200 up 0.95%: Afterpay rises, Westpac’s APRA update, Qantas upgraded
• Why the Southern Cross Media (ASX:SXL) share price is tumbling 14%
• Small-cap ASX minerals explorer inks JV agreement with Rio Tinto (ASX:RIO)
• Why Afterpay, Piedmont Lithium, ResApp, & Santos are charging higher
• Here’s why the Piedmont Lithium (ASX:PLL) share price is jumping 11% today

Motley Fool contributor Marc Sidarous 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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At lunch on Friday the S&P/ASX 200 Index (ASX: XJO) is on course to finish the week on a high. The benchmark index is currently up 0.95% to 6,777.5 points.

Here’s what has been happening today:

Tech shares back on form

ASX tech shares such as Afterpay Ltd (ASX: APT) and Xero Limited (ASX: XRO) are pushing higher on Friday following a strong night of trade on the tech-heavy Nasdaq index. It rose 2.5% overnight thanks to solid gains from a number of tech giants such as Amazon and Facebook. This positive form has transferred to the ASX tech sector, leading to the S&P/ASX All Technology Index (ASX: XTX) rising 2.2%.

Westpac APRA update

The Westpac Banking Corp (ASX: WBC) share price is edging lower despite announcing that APRA has closed its investigation into matters related to the AUSTRAC proceedings. The regulator revealed that after carefully considering the results of ASIC’s investigation, it has decided to close its investigation. However, the $1 billion operational risk capital add-on will remain in place until Westpac completes its remediation under a court enforceable undertaking to APRA’s satisfaction.

Qantas shares underperform

The Qantas Airways Limited (ASX: QAN) share price is trading flat today despite being the subject of a couple of positive broker notes. This follows the Federal Government’s announcement of a $1.2 billion stimulus program to support the domestic travel market. Goldman Sachs responded by reiterating its buy rating and $6.38 price target, whereas Citi upgraded Qantas’ shares to a buy rating with a $6.14 price target.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Friday has been the Service Stream Limited (ASX: SSM) share price with a 6% gain. This is despite there being no news out of the essential network services provider. Though, with its shares falling heavily this year, some investors may believe they have been oversold. The worst performer has been the Flight Centre Travel Group Ltd (ASX: FLT) share price with a 3% decline. This may be due to profit taking after a strong gain on Thursday.

More reading

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• Westpac (ASX:WBC) share price higher following APRA update
• 435,000 Aussies bought their first shares during the pandemic
• 2 of the best ASX 50 shares to buy now
• Can the Flight Centre (ASX:FLT) share price recover in 2021?

Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of AFTERPAY T FPO and Xero. The Motley Fool Australia has recommended Flight Centre Travel Group Limited and Service Stream 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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