In afternoon trade the S&P/ASX 200 Index (ASX: XJO) is fighting hard to get into positive territory but has just fallen short. The benchmark index is currently down slightly to 6,763.1 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Afterpay Ltd (ASX: APT)

The Afterpay share price is down 4% to $109.00. Investors have been selling Afterpay and other tech shares on Monday after bond yields widened on Friday night. The US 10-year treasury bond hit a one-year high of 1.625%, leading to tech stocks on the Nasdaq index tumbling lower. The S&P/ASX All Technology Index (ASX: XTX) is down 1.25% at the time of writing.

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price has fallen 4% to $20.43. Investors have been selling the iron ore producer’s shares on Monday following another pullback in the price of the steel-making ingredient on Friday night. According to CommSec, the benchmark iron ore price fell by US$5.35 a tonne or 3.1% to US$165.70 a tonne.

GWA Group Ltd (ASX: GWA)

The GWA share price has dropped 6% to $2.83. This follows news that the buildings products company’s shares will be kicked out of the ASX 200 index at the next rebalance. GWA is one of six companies that will be removed from the illustrious index on 22 March.

Jupiter Mines Ltd (ASX: JMS)

The Jupiter Mines share price has tumbled 7% to 30.7 cents. This morning the manganese mining company announced that the demerger and initial public offering of its Juno Minerals business will still go ahead, but on a delayed timetable. As a result, a general meeting of Jupiter shareholders will be held by the end of April to re-approve the capital reduction and demerger. The process is now expected to complete in May.

More reading

• ASX 200 down 0.1%: Afterpay sinks, Evolution announces acquisition
• Fortescue (ASX:FMG) shares tumble despite bringing forward carbon neutrality target
• Can ASX BNPL companies like Afterpay (ASX:APT) compete with Paypal?
• ASX 200 Weekly Wrap: Calm restored to the ASX 200
• Why Nuix, Hub24 shares are on watch

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Lithium miner Jindalee Resources Limited (ASX: JRL) shares are rocketing today, reaching a high of $1.82 in early trade.

After coming out of a trading halt, the company announced more lithium discoveries at one of its sites. The company’s shares had been placed in a voluntary suspension on Friday in anticipation of a $9 million capital raising endeavour. 

This follows the Jindalee share price being placed in a trading halt last Wednesday.

At the time of writing, shares in the mineral exploration company have retreated slightly to $1.70, up 11.4%.

What did Jindalee announce?

In today’s release, Jindalee gave an update on progress at its McDermitt lithium project in Nevada. The company advised that the site, which is 100% owned by Jindalee, has “significant zones of lithium mineralisation”.

In 2 of the 4 drill holes, Jindalee discovered mineral ores that were more than 55 metres thick. In one case, the ore was 70 metres thick. All ores discovered had in excess of 1000 parts per million (ppm) of lithium, well above the 100ppm minimum required for commercially viable ore. 

The miner said the ore was discovered in relatively shallow spots which bodes well as greater mineral abundance can be found deeper in the earth’s crust.

The company expects to drill another 6 holes at the site soon. It initially planned to drill the holes last year but the coronavirus pandemic delayed operations.

Jindalee will hire an independent consultant to give a higher mineral resource estimate than provided previously.

In addition, the company will use the planned $9 million in capital to fund an expansion of its McDermitt lithium mine as well as gold and nickel mines in Western Australia. Jindalee will issue 6 million new shares at a price of $1.50 each.

Lithium is fast becoming a valuable commodity

Demand for lithium is booming as the world moves away from fossil fuels and towards renewable energy and battery storage. For example, last year total car sales decreased by 43% but electric car sales increased by 20%. A key element in electric vehicle battery manufacturing is lithium.

The third element’s price in the commodity market also rocketed 20.6% in one day to reach US$85,000 a tonne. Over 12 months, its price has gone up by 82.8%.

Jindalee share price snapshot

This time last year, shares in Jindalee were trading at 31.5 cents each. Since then, the share price has accelerated 354.6% to sit at its current price. Many lithium miners share prices are on a similar trajectory.

Jindalee Resources has a market capitalisation of $79.3 million.

More reading

• Vmoto (ASX:VMT) share price rockets 15% on ‘enormous opportunity’
• Do brokers rate the BHP (ASX:BHP) share price as a buy?
• Bitcoin (CRYPTO:BTC) hits another record high. What’s going on?
• The QEM (ASX:QEM) share price has rocketed 119% today. Here’s why
• ASX 200 down 0.1%: Afterpay sinks, Evolution announces acquisition

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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Vmoto Ltd (ASX: VMT) shares are rocketing in early-afternoon trade following the company’s announcement it has signed a strategic memorandum of understanding (MoU). At the time of writing, the Vmoto share price has risen to 47 cents, up an astonishing 14.63%.

Let’s take a look at what’s driving the electric-powered scooter manufacturer’s shares higher.

What did Vmoto announce?

The Vmoto share price is racing higher as investors weigh the potential market opportunity from the company’s latest update.

According to its release, Vmoto has entered an MoU with one of India’s largest travel technology companies, the Bird Group.

The MoU will see Vmoto work towards granting Bird Group an exclusive distribution agreement in India. This will involve the export of Vmoto’s two-wheel electric vehicle products, the CUX, and its newest line-up, the CUmini model.

Bird Group will purchase 20 units of the CUmini model to take part in a trial. In further news boosting the Vmoto share price, this will see Bird Group set up in pole position to bid for a government-led ride-sharing project in New Delhi, India.

Should all go to plan, Bird Group will purchase a minimum amount of 10,000 units within the first year. This would generate revenue for Vmoto of around $13.8 million for the initial order alone.

The electric vehicle market for India is expected to significantly increase over the next several years, with consumers opting for clean and sustainable mobility. In a research piece from arizton.com, the Indian two-wheel vehicle market size is forecast to reach US$750 million by 2025. Over a 9-year period from 2011 to 2020, statistics showed that internal combustion engine (ICE) two-wheeler sales in India hit 162.2 million units.

The Indian Government is known to strongly support consumers adopting the use of electric vehicles as opposed to ICE two-wheelers. Considered a more environmentally friendly alternative, current policies enacted have aimed to accelerate the transition to their use. These include subsidies, stringent emission regulations and the proposed banning of ICE two-wheel vehicles.

What did the managing director say?

Vmoto’s managing director Mr Charles Chen commented:

We identified Bird Group as an ideal partner for Vmoto within the Indian market, due to the size and scale of its reach and operations.

We have been in discussions with Bird Group for quite some time and are confident this MOU represents the first step in establishing a long-term successful business relationship. India is a market we have been researching heavily over the last 12 months and we believe our expansion into this market will be a tremendous success, with the potential to deliver exceptional growth over the coming years.

About the Vmoto share price

The Vmoto share price has gained more than 190% over the last 12-months. Year to date, the company’s shares have lifted by around 9%.

Based on the current share price, Vmoto commands a market capitalisation of around $114 million.

More reading

• Vmoto (ASX:VMT) share price slips despite positive update

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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What do brokers think of the BHP Group Ltd (ASX: BHP) share price? Could the big Australian resource giant be a buy right now?

Was the recent report strong?

BHP’s underlying numbers included double digit growth for many statistics.

Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 21% to US$14.7 billion and underlying attributable profit went up 16% to US$6 billion.

Profit from operations grew by 17% to US$9.75 billion and net operating cash flow increased by 26% to US$9.37 billion.

However, attributable profit fell 20% to US$3.9 billion. This included an exceptional, one-off loss of US$2.2 billion predominately relating to the impairments of New South Wales Energy Coal (NSWEC) and associated deferred tax assets, as well as Cerrejon.

Free cash flow of US$5.2 billion reflected higher iron ore and copper prices, along with strong operational performance. This cashflow helped net debt improve by 7% to US$11.8 billion.

The interim dividend was increased by 55% to US$1.01.

BHP CEO Mike Henry provided some commentary about this result, he said:

We further grew value in the business during the half through achieving first production at the Spence Growth Option and through the acquisition of an additional interest in Shenzi. Our other major projects in iron ore, petroleum and potash are progressing to schedule.

Creating and securing more options in future facing commodities remains a priority. In nickel and copper, we have established further partnerships, acquired new tenements and progressed exploration.

What has the BHP share price done recently?

BHP shares have risen alongside the strength of the commodity market, particularly iron ore, over the last year. 

Over the last six months the BHP share price has gone up by around 27%. However, it has actually dropped by 7% since 3 March 2021.

What do brokers think of the BHP share price?

Brokers are a bit mixed about the big resources company. For example, Morgans has a share price target of $42.20 for the company, whereas Macquarie Group Ltd (ASX: MQG) has a price target of $55.

Macquarie thinks that BHP’s exposure to copper – which is a beneficiary of green initiatives and renewable energy – will help earnings in the medium-term.

Using Morgans’ numbers, the BHP share price is trading at around 12x FY21’s estimated earnings.

Outlook

Mr Henry spoke of the company’s outlook:

Our outlook for global economic growth and commodity demand remains positive, with policymakers in key economies signalling a durable commitment to growth and signalling ambitions to tackle climate change. These factors, combined with population growth and rising living standards, are expected to drive continuing growth in demand for energy, metals and fertilisers.

Our leadership team is in place and accelerating our agenda to be a safer, lower cost and more productive. We are well positioned, with a portfolio essential products that will support a cleaner and more prosperous world while generating sustainable returns for our shareholders and value for our communities.

BHP also said that the rollout of vaccines in key economies removes a material amount of downside risk to the short-term demand and price outlook for its portfolio of commodities.

More reading

• Can ASX BNPL companies like Afterpay (ASX:APT) compete with Paypal?
• ASX 200 Weekly Wrap: Calm restored to the ASX 200
• Leading brokers name 3 ASX dividend shares to buy
• 3 blue chip ASX shares with dividend yields over 5% today
• Is it ok to buy ASX 200 shares at a 52-week high?

Motley Fool contributor Tristan Harrison 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 price of Bitcoin (CRYPTO: BTC) is yet again on everyone’s lips. The largest cryptocurrency by market capitalisation hit a new record high of more than US$61,600 in the early hours of this morning (our time).

That means Bitcoin is now up almost by 28% over the past month and more than 1,000% over the past year.

There’s no need to state that Bitcoin is now by far the best performing ‘mainstream’ asset class over the periods. It has eclipsed everything from ASX shares to US shares to gold, bonds and property.

So what’s going on here? Why are investors still being drawn into Bitcoin? Is it just FOMO all over again?

A report from The Australian Financial Review (AFR) this morning offers an interesting insight. The AFR argues that the mammoth US$1.9 trillion stimulus package that was recently signed into law over in the United States could be having an impact. The report points out that Americans started receiving their US$1,400 stimulus cheques over the weekend after the bill cleared US President Joe Biden’s desk last week.

That has walked hand-in-hand with US government bond yields rising to their highest levels since the middle of the coronavirus pandemic last year.

Rising bond yields indicate that the markets are worried about inflation, since higher yields imply future interest rate hikes. This could be the key here. Bitcoin is viewed by many investors as having inflation-resistant characteristics. That’s due to the finite number of coins that can be mined.

Should you invest in Bitcoin?

That depends on your outlook for the future of Bitcoin of course. As we reported last month, many fund managers are now treating Bitcoin as a legitimate asset class in the same vein as shares or bonds. We have also seen companies like Tesla Inc (NASDAQ: TSLA) and Square Inc (NYSE: SQ) begin to actually hold Bitcoins on their balance sheets alongside cash.

If the extreme volatility that Bitcoin displays spooks you though (very understandable), there is nothing wrong with giving Bitcoin a pass and sticking to ASX shares. A ‘third way’ to consider adding exposure is by dedicating a small, fixed portion of your portfolio to Bitcoin (and/or other cryptocurrencies), then ‘rebalancing’ when this allocation is surpassed or undershot.

For example, you could decide that you want 2% of your portfolio’s value to be held in Bitcoin. If Bitcoin continues to rise and this 2% grows into 3%, you could sell some off in order to return to your 2% target. If it dips to 1% you could conversely top it up.

There’s no right answer here. But one thing seems certain. Bitcoin doesn’t seem to be going anywhere anytime soon.

More reading

• Tesla shareholder sues Elon Musk over losses
• ASX 200 Weekly Wrap: Calm restored to the ASX 200
• The FOMO fund: Yes, it’s a real thing and it could be dangerous
• Why the Bitcoin price is rocketing towards new record highs again
• Why ASX 200 copper shares are eyeing ultracheap Chinese EVs

Sebastian Bowen owns shares of Bitcoin and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Bitcoin, Square, 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 QEM Ltd (ASX: QEM) share price shot up by a mammoth 95% to 15 cents on opening today after the company announced its plans to pursue hydrogen energy.

The exploration and development company advised today it has begun studies into ‘green’ hydrogen opportunities at its Julia Creek Project in North Queensland.

The QEM share price is up 119%, trading at 18 cents at the time of writing after hitting an intraday high of 19.5 cents.

What did QEM announce?

QEM announced it was looking into the financial and regulatory requirements of producing ‘green’ hydrogen at Julia Creek using a solar-powered electrolyser.

Hydrogen is considered green if renewable energy is used to generate the electricity needed for its production.

The company believes that the hydrogen from its Julia Creek project could be used for the hydrogenation of its raw oil, creating more sustainable transport fuels. Further, the project’s location is ideal for the company to provide hydrogen power to other resource projects in Queensland’s north-west.

QEM also noted trucks and trains travelling through Queensland often needed to refuel in Julia Creek. As hydrogen-powered vehicle technology becomes more common, the project may serve as a vital component of Queensland’s transport industry.

Currently, the Julia Creek Project is one of the world’s largest single oil shale and vanadium deposits. 

QEM is set to begin an approval process with the Queensland Government to provide water to the potential development.

Commentary from management

QEM managing director Gavin Loyden said the project’s location and resource profile was “optimal” for producing hydrogen on-site.

Crucially, the hydrogen strategy aligns with the broader strategic direction of Julia Creek, as QEM looks to target both the liquid fuels and renewable energy sectors.

We remain committed to continuing the development of Julia Creek to unlock the substantial latent value the vanadium and oil shale project possesses. 

QEM share price snapshot

The QEM share price opened at 15 cents this morning, up 95% from Friday’s close of 0.08 cents.

QEM has a market capitalisation of approximately $8 million with 100 million shares outstanding.

More reading

• Bitcoin (CRYPTO:BTC) hits another record high. What’s going on?
• ASX 200 down 0.1%: Afterpay sinks, Evolution announces acquisition
• EY praises economy as JobSeeker and JobKeeper supplements wrap up
• Why ASX hemp share Elixinol’s (ASX:EXL) share price is moving higher
• Why Codan, Evolution, Opthea, & People Infrastructure shares are charging higher

Motley Fool contributor Brooke Cooper 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 Monday the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a small decline. The benchmark index is currently down 0.1% to 6,759.8 points.

Here’s what is happening on the market today:

Tech shares drag on the ASX 200

The tech sector is acting as a drag on the ASX 200 again on Monday. At lunch the S&P/ASX All Technology Index (ASX: XTX) is down just over 1% following declines by the likes of Afterpay Ltd (ASX: APT) and Altium Limited (ASX: ALU). Investors have been selling tech shares after a jump in bond yields on Friday night led to the tech-focused Nasdaq index tumbling lower.

Fortescue brings forward carbon neutrality plans

The Fortescue Metals Group Limited (ASX: FMG) share price is sinking lower today after weakness in iron ore prices offset news that it plans to become carbon neutral sooner than expected. According to the release, the iron ore producer is aiming to be carbon neutral by 2030. This is 10 years earlier than first expected. The iron ore price lost 5% of its value last week amid steel production curbs in China.

Evolution acquisition

The Evolution Mining Ltd (ASX: EVN) share price is pushing higher today after investors responded positively to a new acquisition. According to the release, the gold miner has signed a definitive agreement to acquire Canada-based Battle North. Evolution has agreed to pay C$2.65 per share in cash, which equates to a total consideration of approximately C$343 million. Battle North is the owner of the Bateman Gold Project in Ontario, which neighbours some of Evolution’s tenements in the region.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Monday has been the Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price with a 4% gain. This is despite there being no news out of the medical device company. The worst performer has been the GWA Group Ltd (ASX: GWA) share price with a 5% decline. The building products company’s shares are being dumped out of the ASX 200 at the next rebalance.

More reading

• Why Codan, Evolution, Opthea, & People Infrastructure shares are charging higher
• Fortescue (ASX:FMG) shares tumble despite bringing forward carbon neutrality target
• The Altium (ASX:ALU) share price is nearing its 52-week low
• Evolution (ASX:EVN) share price on watch following acquisition
• Can ASX BNPL companies like Afterpay (ASX:APT) compete with Paypal?

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 Altium. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Many Australians are watching with interest as changes to the JobKeeper and JobSeeker payments take effect this month.

While the implications of these changes for unemployment and the economy are yet to materialise, EY believes that Australia is on the right path.

Will the changes impact the Australian economy?

The Australian Financial Review (AFR) has today reported that EY categorises Australia with New Zealand, Denmark and South Korea with regard to our nation’s management of the coronavirus pandemic.

However, for Australia to continue its march forward, one chief economist believes that businesses need to exhibit strong future growth prospects. 

Jo Masters noted in the AFR that, as Australia steers its way out of the pandemic, the next twelve months require a strong corporate sector.

The sector is also predicted to play a key role in boosting investing and driving economic growth once the JobKeeper payments end and JobSeeker is reduced.

EY says Australia is in “great shape”

EY continued that Australia is faring “above average” when compared to other similar economies. It believes that following coronavirus, Australia will be in one of the best positions to rebound from the economic and health blows dealt by the pandemic. As quoted by AFR, the report stated, “Australia is in great shape, one of the top performers when viewed against many comparable developed economies”.

With JobSeeker changing and JobKeeper coming to a close, EY remains confident the country is well positioned to grow. However, businesses will have to help lead the way. 

Foolish takeaway

In addition to changes to the JobSeeker and JobKeeper programs, there’s also an economic support payment due to come out this month. This comes at the same time as the government’s half-price airfare scheme. And, if EY’s report is anything to go by, Australians can be reassured regarding the current picture of our economy. 

More reading

• Why ASX hemp share Elixinol’s (ASX:EXL) share price is moving higher
• Why Codan, Evolution, Opthea, & People Infrastructure shares are charging higher
• These are the 10 most shorted shares on the ASX
• Tesla shareholder sues Elon Musk over losses
• Why the Little Green Pharma (ASX:LGP) share price is on the rise

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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The Elixinol Global Ltd (ASX: EXL) share price rocketed 15% on open this morning and is currently up 5% in intraday trading.

This comes after the ASX hemp company revealed it would acquire a leading German cannabidiol (CBD) company.

Elixinol shares were placed in a trading halt on 4 March at the company’s request, pending this announcement. Shares started trading on the ASX again this morning.

What did Elixinol report on its acquisition agreement?

The Elixinol share price is moving higher after the company reported it would acquire CannaCare Health GmbH.

CannaCare owns CANOBO, which is among Germany’s top CBD brands with a dominant position in Germany’s drugstores. CANOBO has more than 4,500 physical retail distribution points, and its 20 products include CBD oils, sprays and skincare.

In the 2020 financial year, CannaCare reported 2.6 million euros (AU$4 million) in revenue with earnings before interest, taxes, depreciation and amortisation (EBITDA) breaking even.

Elixinol noted that Germany’s CBD market was expected to grow faster than any other in Europe. The compound annual growth rate (CAGR) of 47% or more is forecast to reach US$600 million by 2025.

The agreement stipulates Elixinol will pay 9 million euros upfront, with 3 million euros in cash and the other 6 million euros in Elixinol shares.

The company reported that “upon attainment of FY2021 revenues of 12.9 million euros and 20% EBITDA, the maximum earn-out of 15.0 million euros is payable in Elixinol shares, making a total potential consideration of 24.0 million”.

Management commentary

Commenting on the binding agreement, Elixinol global CEO Oliver Horn said:

We are incredibly excited about this transformational opportunity which leapfrogs Elixinol closer to its vision of becoming a profitable, global, hemp-derived consumer goods wellness business…

By acquiring CannaCare, we gain a strong foothold in Europe’s fastest growth market of Germany and, together with our established UK business, will become a leading pan-European business of scale.

Completion of the agreement remains subject to all the standard conditions.

Elixinol share price snapshot

Over the past 12 months, Elixinol shares are down 18%. That compares to a 38% gain on the All Ordinaries Index (ASX: XAO).

Year-to-date, the Elixinol share price is up 14%.

More reading

• Why the Elixinol (ASX:EXL) share price has been halted today?

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 S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decline. In late morning trade the benchmark index is down 0.15% to 6,757.4 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are charging higher today:

Codan Limited (ASX: CDA)

The Codan share price is up 2% to $15.28. Investors have been buying this metal detector company’s shares this morning after S&P Dow Jones Indices announced its inclusion in the ASX 200 at the next quarterly rebalance. Codan and five other companies will join the illustrious index next week on 22 March.

Evolution Mining Ltd (ASX: EVN)

The Evolution share price is up 3.5% to $4.09. The catalyst for this was the gold miner announcing a definitive agreement to acquire all of the issued and outstanding shares of Battle North. Evolution has agreed to pay C$2.65 per share in cash, which equates to a total consideration of approximately C$343 million. Battle North is the owner of the Bateman Gold Project in Ontario, Canada. Evolution has tenements of its own neighbouring the project.

Opthea Ltd (ASX: OPT)

The Opthea share price has jumped 9% higher to $1.68. This morning the biopharmaceutical company announced that the first patient has been treated in its Phase 3 pivotal clinical program. This program is trialling the first-in-class VEGF-C/D ‘trap’ inhibitor, OPT-302, in participants with treatment-naïve wet age-related macular degeneration.

People Infrastructure Ltd (ASX: PPE)

The People Infrastructure share price is up over 2.5% to $3.51. Investors have been buying the workforce management company’s shares after it announced a new acquisition. People Infrastructure has entered into a binding agreement to acquire leading nursing agency SwingShift Nurses. Swingshift Nurses is focused on the mental health market and is a contracted preferred supplier to most public sector hospitals in the Victorian market.

More reading

• Why the Opthea (ASX:OPT) share price is soaring 11% today
• Why the People Infrastructure (ASX:PPE) share price is charging higher today
• Evolution (ASX:EVN) share price on watch following acquisition
• ASX quarterly rebalance: HUB24 joins ASX 200, Brainchip into ASX 300
• Why Nuix, Hub24 shares are on watch

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 People Infrastructure Ltd. The Motley Fool Australia has recommended People Infrastructure 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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