The Nova Eye Medical Ltd (ASX: EYE) share price is in the green today. This comes after the company released positive results showing the efficacy of its 2RT treatment.

During mid-afternoon trade, the medical technology company’s shares are up 7.58% to 36 cents.

What were the results?

In today’s release, Nova Eye advised that it has published the results of its 5-year patient follow-up data from the LEAD trial in a recent publication of Ophthalmology Retina. The article discusses the long-term effect of subthreshold nanosecond laser (SNL) treatment on progression to late age-related macular degeneration (AMD).

The company said the LEAD trial was a randomised, controlled multi-centre study involving 292 patients over a 6-year period (2012 to 2018). The program assessed the efficacy of 2RT at the 3-year mark in patients suffering from intermediate AMD.

Of the enrolled patients that completed the 5-year review (222 patients), two groups were equally split. This consisted of the 2RT treatment group, and the other being the non-treatment group.

The published article states that when factoring the trial participants and additional data observed during the five-year post-LEAD review, the results are promising. It showed strong evidence of a reduction in the rate of progression in AMD when treated with 2RT.

What did management say?

Nova Eye Medical director Tom Spurling hailed the results, saying:

While these data have been calculated by the authors using post-hoc analysis, the improvement in the clinical response in patients without RPD at five years using is very exciting, particularly given these patients did not receive further 2RT treatment during the last two- year observation period.

Overall, there was a significant reduction in the rate of progression to late-stage AMD in these patients. This is of significant benefit to patients in deferring disease progression and thus maintaining their quality of life. It also supports our previously stated position that 2RT offers the potential to meet a major global unmet need to delay onset of blindness.

About the Nova Eye share price

The Nova Eye share price has lost almost half of its value since this time last year. The company’s shares have been impacted by COVID-19, which has affected its medical equipment and devices business.

Based on the current share price, Nova Eye Medical commands a market capitalisation of close to $50 million.

More reading

• Brokers name 3 ASX shares to buy right now
• 2 high quality ASX ETFs to buy this month
• Fundie tips this ASX 200 retail share to prosper in 2021
• 4 ASX retail shares that Morgans thinks are a ‘Buy’
• Why the Cadence Capital (ASX:CDM) share price is zipping 9% ahead

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Nova Eye Medical 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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Exchange-traded funds (ETFs) can be useful additions to any ASX portfolio. An ETF doesn’t represent a single ASX share, but rather a collection of different shares, all in one fund.

As such, ETFs can be a useful tool to increase diversification and exposure to hard-to-reach areas in one’s portfolio. To that end, let’s take a closer look at two ASX ETFs.

BetaShares Asian Technology Tigers ETF (ASX: ASIA)

Many ASX investors choose to buy US shares directly, which isn’t that hard these days. But Asian markets remain rather difficult for Aussies to directly participate in.

That’s why this ETF from BetaShares can come in handy. Asian Technology Tigers holds within it 50 of the largest technology companies from the Asian region (excluding Japan).

These include some names you might have heard of, such as Samsung Electronics and Tencent Holdings, to some you may not be as learned in, like JD.com and Baidu. This ETF is heavily dominated by Chinese and Hong Kong-listed companies. But it also offers handy exposure to the Taiwanese, South Korean, and Indian markets.

Asian Technology Tigers has been on an absolute tear over the past year, rising an eye-watering 61%. But, this ETF has also lost a bit of steam in recent weeks and is now down around 14% since 15 February.

It charges a management fee of 0.67% and offers a trailing distribution yield of 0.9%.

VanEck Vectors Wide Moat ETF (ASX: MOAT)

Changing lanes to this ETF from VanEck now. The Wide Moat ETF aims to hold a basket of US shares that all have characteristics that indicate the presence of an economic moat. A moat is a concept pioneered by the great Warren Buffett.

It demonstrates that a company has an intrinsic competitive advantage, such as a strong brand, pricing power or switching costs. This theoretically helps to ‘protect’ the business from competitors in the same way a medieval moat protected a castle from invaders.

No surprises then that the Wide Moat ETF holds Buffett’s Berkshire Hathaway Inc (NYSE: BRK.A) (NYSE: BRK.B) among its holdings. Other names you might know in this ETF include Amazon.com Inc (NASDAQ: AMZN), American Express Company (NYSE: AXP), Microsoft Corporation (NASDAQ: MSFT) and McDonald’s Corporation (NYSE: MCD).

The Wide Moat ETF charges a management fee of 0.39% per annum and has a trailing distribution yield of 1.35%. It has also managed to deliver an average return of 17.31% per annum over the past five years.

More reading

• Brace for even more new ETFs to hit the ASX
• 2 top ETFs to buy in March
• 2 tech ETFs for ASX investors to buy after the market selloff
• 2 top ETFs to buy and hold
• 2 high quality ETFs for ASX investors to buy in February

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Sebastian Bowen owns shares of American Express, McDonalds, and VanEck Vectors Morningstar Wide Moat ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon, Baidu, Berkshire Hathaway (B shares), JD.com, and Microsoft 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 Asia Technology Tigers ETF. The Motley Fool Australia has recommended Amazon, Berkshire Hathaway (B shares), JD.com, and VanEck Vectors Morningstar Wide Moat 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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S&P/ASX 200 Index (ASX: XJO) retail shares have been enjoying some strong tailwinds from cashed-up consumers.

In 2020, Australian households saved $187 billion. That’s more than Aussie households managed to sock away in 2017, 2018, and 2019…combined.

The combination of cashed-up consumers with pent-up demand after enduring months of social distancing and lockdowns is good news for ASX 200 retail shares. Especially with consumer spending comprising some 65% of the Australian economy.

While that’s good for all types of ASX retail shares, discretionary retail shares (those selling items we don’t necessarily need but want to own anyhow) are tipped to outperform.

So which ASX 200 retail shares stand out?

Dermot Ryan is a portfolio manager at AMP Capital.

As the Australian Financial Review reports, Ryan believes Harvey Norman Holdings Limited (ASX: HVN) is among the ASX 200 retail shares “set to prosper as consumer spending strengthened through the economic recovery”.

Why?

According to Ryan:

We’ve been very keen on the retail space. We’ve been playing really strongly in that discretionary spend and we’ve seen very strong dividends from that sector… Australia has had a massive rebound because we’ve had one of the biggest stimulus programmes in the world and we haven’t really had that much COVID.

Harvey Norman share price snapshot

Harvey Norman shareholders have been well rewarded over the past 12 months, with shares up 43%. By comparison, the ASX 200 is up 4% in that same time

Though shares are slipping today, down 2.17% in early afternoon trading, the Harvey Norman share price is up 9% in 2021, while the ASX 200 is down just under 1%. The company has a market capitalisation of $6.6 billion.

Harvey Norman pays an annual dividend yield of 7.15%, fully franked.

More reading

• 3 ASX 200 shares that doubled profits this reporting season 
• These are the latest ASX shares to be hit by broker downgrades
• Leading brokers name 3 ASX shares to buy today
• Has the Harvey Norman (ASX:HVN) share price peaked?
• The Harvey Norman (ASX:HVN) share price slips despite soaring profits

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February reporting season was a mixed bag for ASX retail shares despite strong half-year results across the board.

Morgans has run the ruler over a number of ASX retail shares, citing the rising Australian dollar, ongoing vaccine roll out and strong household savings as factors that will support retailers. 

Here are four ASX retail shares that received an “Add” rating by Morgans on 3 March. 

1. Adairs Ltd (ASX: ADH) 

The Adairs share price topped out and hit a record all-time high on the day its half-year results were released. The company delivered outstanding growth with a 34.8% increase in sales to $243.0 million while statutory net profit after tax surged 233.4% to $43.9 million. 

Morgans believes that, while retail sales will moderate in a post-COVID world, Adairs’ earnings will normalise at a materially higher level. Earlier this week, the broker retained a $4.50 price target for Adairs, which represents a 20% upside from today’s prices. 

2. Baby Bunting Group Ltd (ASX: BBN) 

The Baby Bunting share price took a 6% dive on the announcement of the company’s half-year results. Baby Bunting announced a 16.6% increase in sales to $217.3 million and pro forma net profit after tax of $10.8 million, a 43.5% increase on the prior corresponding period. 

Morgans is bullish on the company’s expansion plan to establish a multi-channel retail proposition in New Zealand, with its first store anticipated to open in FY22. 

On 3 March, the broker retained its $6.39 share price target for Baby Bunting. This represents an almost 24% premium to today’s Baby Bunting share price 

3. Breville Group Ltd (ASX: BRG) 

The Breville share price also experienced a similar effect as Adairs on the day its own half-year results were announced on 16 February. Breville shares briefly hit an all-time record high of $32.85 following the company’s update.

Breville’s revenues increased 28.8% to $711.0 million for the half while net profit after tax grew 29.25% to $64.2 million. The company noted that assuming no significant change in economic conditions in its major trading markets, it expects FY21 EBIT to be approximately $136 million. This represents an increase of 34.8% on FY20 EBIT guidance and is also higher than the FY21 guidance of $128 million to $132 million provided at its November AGM. 

Morgans retained a $33.90 share price target, around 27% higher than the current Breville share price.

4. Lovisa Holdings Ltd (ASX: LOV) 

The Lovisa share price surged 19% on the back of the company’s half-year results. But while the other ASX retail shares mentioned here delivered double-digit, and in some cases triple-digit, growth across the board, Lovisa was significantly impacted by worldwide store lockdowns. 

As a result, Lovisa’s revenue took a 9.8% hit while net profit after tax slumped 22.6%. Despite a weak performance at face value, Morgans is bullish on the company’s reopening leverage and believes it could see an uplift in growth in the short term. 

The company’s results noted that the first seven weeks of the second half has seen a strong performance from the Southern Hemisphere markets and challenging trading conditions in the Northern Hemisphere, with comparable store sales up 12% overall. 

Morgans retained a target price of $17.95, a 29% premium to the current Lovisa share price.

More reading

• Top brokers name 3 ASX shares to buy today
• How Aldi plans to disrupt many ASX retail shares
• 3 ASX shares that doubled their profit in reporting season
• 2 ASX shares rated as strong buys by brokers for March
• These ASX retail shares are smashing sales expectations

Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends ADAIRS FPO. The Motley Fool Australia has recommended ADAIRS 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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The Cadence Capital Limited (ASX: CDM) share price is really finding its rhythm today, as it pulls ahead of most of the ASX. This move comes after the international equities’ manager provided an update on one of its investments.

At the time of writing, Cadence Capital is trading at $1.00, an increase of 8.65% from yesterday’s closing price.

Metal is going green, going DeepGreen

Cadence’s update relates to an investment it made several years ago in a private company by the name of DeepGreen Metals. Before we jump into the recent developments, what is ‘DeepGreen Metals’?

DeepGreen Metals is quite an interesting business. The company’s focus is to produce metals from polymetallic rocks to power electric vehicles (EVs). Now that might not mean much unless you’re a geologist, so let’s crack it open.

Polymetallic rocks or nodules are rock formations containing iron and manganese hydroxides. These rocks happen to be abundant on the sea-bottom of most oceans of the world. As the formation contains a broad composition of copper, cobalt, nickel, and other elements, these nodules have the materials necessary for EV battery production.

The best part, they are just sitting on the ocean floor. That means no tearing up landscapes, impacting flora and fauna; it’s a ‘green’ way of harvesting these resources.

We’re building a world where metals are not mined and dumped, but rented and returned.#BetterMetals #RenewableEnergy #ElectricVehicles pic.twitter.com/rQNgA0iVmb

— DeepGreen Metals Inc. (@DeepGreenMetals) December 11, 2020

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Why is DeepGreen driving up the Cadence Capital share price?

Announced overnight, DeepGreen Metals is set to go public on the New York Stock Exchange via SPAC. This will be done via the merger with the blank-check listed Sustainable Opportunities Acquisition Corp (NYSE: SOAC).

Once merged, the trading company will be known as The Metals Company under the ticker TMC.

Cadence Capital notes that the DeepGreen Metals investment is roughly 2.8% of the company’s portfolio. The proposed listing value of US$2.9 billion is far greater than the company’s current valuation. The most recent raising for the merger was priced at US$10 per share, whereas Cadence’s current investment is valued at US$1.38 per share. Based on this information, the reevaluation would lift Cadence’s overall portfolio value by approximately 20%.

The transaction is still subject to shareholder and court approval.

More reading

• Why the Peppermint (ASX:PIL) share price is bouncing today
• ASX energy shares are booming as OPEC cuts production
• Crown (ASX:CWN) share price facing double Royal Commission trouble
• The risky nature of Robinhood style day trading revealed
• What’s with the Weebit (ASX:WBT) share price sinking 6% today?

Motley Fool contributor Mitchell Lawler 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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Peppermint Innovation Ltd (ASX: PIL) shares are bouncing around today after the company provided an update regarding the launch of a new insurance offering.

In early trade, the Peppermint share price surged by around 13% to 2.6 cents only to then retreat. At the time of writing, Peppermint shares are trading at 2.3 cents, flat for the day so far, amidst a wider market selloff. 

Let’s take a look at what the mobile banking app developer announced.

Peppermint offers new micro-insurance product

The Peppermint share price has been up and down today after the technology company announced it has entered into an agreement with Cebuana Lhuillier Insurance Solutions (Cebuana) in the Phillippines. Peppermint is now offering Filipino consumers access to life and accident insurance products.

Under the agreement, Cebuana will provide the insurance products and services to Peppermint. Peppermint will provide marketing and sales services as well as collect premiums and be responsible for compliance.

Using Peppermint’s bizmoto app technology, customers will have access to three different micro-insurance products to purchase on a monthly or annual basis.

Every policy covers emergency services associated with coronavirus.

CEO comments

Peppermint managing director and CEO Chris Kain said: 

Offering accessible and affordable insurance products is an extremely important part of Peppermint’s overall vision to deliver financial inclusion and social good to the Filipino people…

The aim of bizmoProtect is to deliver affordable and accessible accident and life insurance to Filipino people via our established bizmoto agent network using our new and improved bizmoto mobile App…

bizmoProtect represents the first product to be launched within our targeted financial services business sector and means that our bizmoto ecosystem is now live across all of the four key targeted business sectors of mobile payments, e-commerce, delivery and logistics and financial services.

Peppermint will receive a 5% or 10% service fee for all premiums collected and a 60% share of product mark up.

Peppermint share price snapshot

Peppermint Innovation services the Philippines market and is focused on the commercialisation and further development of its mobile banking, delivery and logistics, e-commerce and finance technologies.

The Peppermint share price has fallen by more than 20% over the past month. This comes following an explosion in the price of Peppermint shares in late January when the company resumed trading on the ASX after an extended halt.

Based on the current share price, Peppermint has a market capitalisation of around $37.4 million and there are presently 1.4 billion shares outstanding.

More reading

• Up 230%! What’s going on with the Peppermint Innovation (ASX:PIL) share price?

Motley Fool contributor Gretchen Kennedy 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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It’s a good day to own shares in ASX energy companies today. The Woodside Petroleum Limited (ASX: WPL), Santos Ltd (ASX: STO), Oil Search Ltd (ASX: OSH), and Origin Energy Ltd (ASX: ORG) share prices are all rising today. The companies’ share price lift coming despite today’s 1.08% fall in the S&P/ASX 200 Index.

 The exception is Ampol Ltd (ASX: ALD), which has dropped 0.54% and is currently trading at $23.75.

At the time of writing, Woodside share price is up 2.07% to $25.20, Santos shares are selling 3.98% higher to be at $7.71, Oil Search lifted 3.33% to sit at $4.35, Origin shares are 1.14% higher, trading at $4.42.

Let’s take a closer look at why all these share prices are through the roof.

What’s lifting the ASX energy shares today?

 As reported in the Australian Financial Review (AFR), crude oil prices are surging after OPEC+ members announced they would continue production cuts into April.

OPEC+ comprises the 13 OPEC nations (such as Saudi Arabia, the United Arab Emirates, and Nigeria) along with 10 additional countries (like Russia and Mexico). The group acts (and the OECD defines it as) as an anti-competitive cartel. Members coordinate with each other to cut the supply of oil and thus boost its price on the market.

In the AFR report, OPEC justifies the cut by claiming that “demand recovery from the coronavirus pandemic was still fragile…” The inter-government organisation is withholding approximately 7 million barrels per day (bpd) from the market. This is down from the record 9.7 million bpd withheld last year.

There is also speculation Saudi Arabia may cut an additional 1 million bpd of production. The move could bring the total cut to 8 million bpd.

The website Trading Economics has the current price of crude oil at USD 64.06. That’s a 4.37% rise from last week.

In April last year, for the first time ever, crude oil was selling at an astonishing minus USD 40.32.

Despite increasing climate change awareness, oil is still the most consumed energy product globally.

Share price snapshots

Despite today’s gains, all the companies listed here, with the exception of Santos, are at a lower share price than this time last year. In fact, Santos’ current share price is a 52-week high.

One year ago, Woodside’s share price was $27.31, Santos was $6.88, Oil Search was $5.10, Origin Energy was $7.00, and Ampol was at $32.80.

The market capitalisation of the respective companies is $24.3 billion, $16.1 billion, $9 billion, $7.8 billion, and $5.7 billion.

More reading

• 5 things to watch on the ASX 200 on Friday
• What’s up with the oil price right now?
• 5 things to watch on the ASX 200 on Thursday
• Exploring the golden window of opportunity for ASX ESG investors
• 5 things to watch on the ASX 200 on Wednesday

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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The Crown Resorts Ltd (ASX: CWN) share price is under a cloud as Western Australia launches a Royal Commission.

The Crown share price fell 1% to $9.86 during lunch time trade. This happened as the S&P/ASX 200 Index (Index:^AXJO) shed a similar amount.

What’s interesting is that Crown’s share price is holding up better than its rival, the Star Entertainment Group Ltd (ASX: SGR) share price. The Star Entertainment share price lost 1.1% to $3.63 at the time of writing.

Double trouble for Crown share price

The WA government appointed two retired judges and an auditor-general to look at whether Crown should lose its casino license in the state, reported the Australian Financial Review.

This means management will have to face two Royal Commissions as Victoria announced its own last month.

However unlike Melbourne, WA’s Royal Commission will also look at the state’s Gaming and Wagering Commission. The state’s watchdog has been accused of being too close to Crown.

Similar allegations were levelled at the Victorian government, but Daniel Andrews is sweeping that under the carpet.

Royal Commission upgrade

WA initially wanted to hold an inquiry, but Racing and Gaming Minister, Paul Papalia, said the government decided to upgrade the inquiry to a full royal commission to provide extra legal protection to witnesses.

This is the first Royal Commission held by the McGowan government, which is facing a state election next week.

The Royal Commission will cost WA taxpayers around $5 million and will be led by Neville Owen. His fellow commissioners are former Supreme Court judge Lindy Jenkins and former West Australian auditor general Colin Murphy, reported the AFR.

Taking the crown for money laundering

At least Crown has a lot of practice with Royal Commissions. It was put through the wringer by New South Wales, which found that Crown enabled and facilitated money laundering for around five years.

Crown used two bank accounts for its illegal operations at its casinos in Perth and Melbourne. Hundreds of millions of dollars were believed to have passed through the two accounts each year.

The damning findings prompted WA to ban Crown from organising gambling junkets in the state while its inquiry is running.

Foolish takeaway

The new legal challenge in WA isn’t unexpected and could explain the Crown share price reaction.

Investors may also believe that even if Crown is found guilty (which is a likely outcome, in my view), that it will still be able to retain its licenses as long as more heads roll and major shareholder, James Packer, sells off his stake in the company.

More reading

• Tilt Renewables (ASX:TLT) share price falls despite wind farm news
• 5 things to watch on the ASX 200 on Friday
• This investment is one of Warren Buffett’s favourite share ideas
• Thursday’s top performing ASX 200 shares at the end of the session
• ASX 200 sinks, Xero reveals acquisition, ARB driven higher

Motley Fool contributor Brendon Lau has no position in any of the stocks mentioned. Connect with me on Twitter @brenlau.

The Motley Fool Australia has recommended Crown Resorts 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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Before the world had heard of the so-called Reddit army and WallStreetBets.

Before most any of us had a clue what GameStop Corp (NYSE: GME) did, let alone that the GameStop share price would be claiming global financial headlines for weeks running.

Before all of that, there was Robinhood.

That’s the United States-based, commission-free investing app that soared in popularity during the long months of the pandemic lockdown. Millions of retail investors signed onto the service. Many invested in shares solely because they were moving higher.

Chasing the momentum higher, some day traders certainly made money. But many others will have lost money, buying into the big, new story too late, when share prices were due for a major retrace.

Two investment legends give Robinhood style day trading the thumbs down

Charlie Munger, Warren Buffett’s long time business partner, cautioned investors about the nature of day trading. He compared it to gambling, specifically to punting on racehorses.

That critique was not well received. Robinhood itself tweeted, “To suggest that new investors have a ‘mindset of racetrack bettors’ is disappointing and elitist.”

But Munger isn’t the only investment guru concerned with the risks of short-term profit chasing. Richard Bernstein, founder of investment management firm Richard Bernstein Advisors, stepped into the debate himself.

As Bloomberg reports:

Munger’s comments “were derided as those made by an old guy who does not understand today’s more modern markets,” Bernstein wrote, but stock market history backs up Munger’s point about a short-term focus being harmful to one’s wealth, particularly when chasing popular momentum stocks.

Day trading or coin flipping?

Bernstein backed up his warning with a chart showing that the probability of losing money on the S&P 500 Index (SP: .INX) – using rolling price returns from January 1930 to January 2021 – increases markedly the less time an investor holds onto their shares.

For those buying and selling in one day, there’s a 46% chance of losing money. That drops down to 31% at 12 months and 10% for long-term investors holding on for 10 years.

Bernstein said:

The probability of success when day trading is only slightly better than when flipping a coin. There has historically been about a 54/46 chance of making money when holding stocks for a day versus 50/50 from coin flipping.

More reading

• Is Reddit’s GameStop (NYSE:GME) crowd targeting Asian shares?
• Why GameStop (NYSE:GME) stock soared another 18% today
• Robinhood fires back at Berkshire Hathaway’s Charlie Munger over criticism
• Is the Reddit army planning another GameStop (NYSE:GME) short squeeze?
• Here’s why GameStop stock just exploded higher

Motley Fool contributor Bernd Struben 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 Weebit Nano Ltd (ASX: WBT) share price is sinking in early-afternoon trade despite the company announcing two new filed patents.

At the time of writing, the memory technology company’s shares are down 5.83% to $1.94.

Let’s take a quick look at the company’s update today and why the Weebit share price is falling.

Why is the Weebit share price falling?

The Weebit share price may be losing ground today despite its positive announcement as investors sell off their positions due to renewed pandemic fears. A potential fourth wave of COVID-19 and a new strain variant could hit the United States, which has sent worldwide markets lower.

Overnight, the Dow Jones ended its session 1.1% lower to 30,924 points. The S&P 500 and Nasdaq index dropped 1.34% and 1.73%, respectively.

So, what did Weebit announce?

In this morning’s release, Weebit advised that it has filed two new patents based on some programming improvements made to its ReRAM technology. The submission aims to protect the intellectual property of the company’s silicon oxide ReRAM memory.

The first patent refers to chip circuitries that operate together to improve access time and power. This is linked with programming the memory module while increasing bit performance.

The second patent explains changes within its chip circuity that allows the memory access speed of the ReRAM to double. Weebit noted this was beyond what current non-volatile memories exist today.

A quick take on Weebit Nano

Weebit Nano develops next-generation computer memory technology. The company addresses the growing need for data storage and embedded non-volatile memory (NVM) technology with its new, resistive random-access-memory (ReRAM) technology.

According to the company, “Weebit Nano’s technology enables a quantum leap, allowing semiconductor memory elements to be significantly cheaper, faster, more reliable and more energy-efficient than the existing Flash technology”.

CEO commentary

Weebit Nano CEO Coby Hanoch hailed the company’s progress, saying:

We are proud to continue leading the innovation trend in the ReRAM ecosystem. As we make progress towards taping out our first ReRAM memory module, planned for the middle of this year, we are further enhancing our intellectual property with unique design-related patents.

These patents are game changers for some applications, supporting Weebit’s focused efforts towards achieving a first commercial agreement.

Despite today’s fall, the Weebit Nano share price is trading close to 450% higher in the past 12-month period.

More reading

• The Weebit Nano (ASX:WBT) share price dips on widening losses
• ASX cheats offered immunity… with one catch
• ASX exec sentenced to jail for WhatsApp market manipulation

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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