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

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

Most people want to retire rich, or at least with plenty of money to provide financial security and a chance to enjoy life.

Unfortunately, far too many people end up with too little money set aside for their later years. 

If you want to make sure you’re a wealthy retiree, then there are six rules you’ll need to follow throughout your life to get you there — and breaking any one of them could seriously damage your long-term financial prospects.

Here they are: 

1. Don’t spend more than you earn

Earning a high income doesn’t guarantee you’ll end up wealthy in retirement. And earning a low income doesn’t always doom you to struggle. 

The key factor that affects your financial security in retirement isn’t how much you earn, but how much you spend. If you’re consistently spending all of your paycheck — or worse, spending more than you earn and taking on debt — you’re never going to be rich. 

Instead, you need to live well below your means so you can save enough to build a nest egg that will support you once you’re no longer working. Saving at least 20% of your income is ideal. 

2. Invest an appropriate amount of your assets in stocks

Most people can’t just save their way to wealth because their savings rate would need to be too high.

Say that you define “rich” as having $1 million saved, and you have 30 years to get there. You’d need to save more than $2,500 per month to hit your target if you stuck your money into a high-yield savings account and earned only a 0.5% annual return on investment. 

But if you put some of your money into the stock market and earned an 8% average annual return, your monthly savings target would come down to just over $735. That’s a lot more doable, and that return is consistent with that of the broader stock market over the long run.

You don’t want to put too much into stocks, though, as you don’t want to risk outsize losses. The best option is to develop a personalized investing approach based on your age and risk tolerance. If you don’t want to do that, an easy shortcut is to subtract your age from 110 and use the resulting number as the percentage that you invest in the market. 

3. Watch your investment fees

Investment fees eat away at your returns. You need to watch what you’re paying to invest your money. 

Pay attention to:

• Expense ratios, which are costs of owning mutual funds or ETFs expressed as a percentage of the fund’s assets.
• Advisory fees, which are charged as a percentage of assets under management for actively managed investments. 
• Administration fees, which some 401(k) plans charge.
• Inactivity fees, which some brokerage firms charge. 
• Commissions, which you sometimes pay for purchasing assets.  

Keeping your fees as low as possible can help maximize your returns so you don’t waste tens of thousands of dollars over your investing career. 

4. Build a diversified portfolio

When it comes to your retirement funds, you can’t afford to put all your eggs in one basket. Investing too much in any particular type of asset, any one company, or any one industry could put you at too great a risk of suffering outsize losses.

You can minimize the investing risk you’re taking on by buying a diverse mix of different assets.

If you’re purchasing shares of individual companies, watch the mix of companies you’re buying to ensure you end up diversified. You can also invest in exchange-traded funds, such as an S&P 500 index fund, to make diversification easier.

5. Invest for the long term

Day trading may seem like a good way to make money by capitalizing on market trends. For most people, it’s not.

While you may be able to make a profit sometimes if you get lucky, even financial professionals have difficulty consistently beating the market by actively trading stocks they hold only for short periods. 

Instead of gambling on your instincts paying off, invest in companies you’d be happy to hold on to for at least a decade. This will reduce your risk. And when you’re making a long-term commitment, you’ll have more time to devote to researching options and getting to know the companies and industries you’re investing in. 

6. Invest only in what you understand

Lastly, you can’t afford to chase obscure investments or get-rich-quick schemes with your retirement funds if you want to be wealthy. You need to know what you’re investing in, how it’s supposed to make money for you, and why you’re investing in it.

By following these six rules, you should hopefully end up saving plenty of money for retirement and investing it wisely so it can work for you and help you to build the wealth you need to live the life you deserve as a retiree.

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

More reading

• Orocobre (ASX:ORE) share price rebounds from broker downgrade
• Fighting the Fed: The next choice for ASX investors
• The Payright (ASX:PYR) share price is soaring 12%. Here’s why
• Man faces 10 years’ jail for ASX insider trading
• Why is the Alpha (ASX:A4N) share price falling today?

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

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

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The phrase ‘don’t fight the Fed’ came into prominence during the coronavirus-induced share market crash last year. And it proved remarkably salient. After all, it is widely accepted that the Fed’s intervention last year helped the US markets (and the S&P/ASX 200 Index (ASX: XJO)) find their bottom after the shortest and sharpest market crash in history. The Fed’s declaration that it would turn the quantitative easing (QE) taps to fully open last year occurred just before the markets started slowly climbing on 24 March 2020.

After this happened, investors started telling each other that you ‘never fight the Fed’ when it comes to investing. In other words, what the Fed says, goes.

Well, fast forward a year (and some) and investors are faced with a strangely similar conundrum. Both the Federal Reserve and the Reserve Bank of Australia (RB) have been trotting out a consistent line over the past few months. That line goes something like this: ‘Interest rates will not be going up until inflation is between 2-3%. That won’t happen until unemployment is low and economic growth is high. And we don’t expect this to occur until 2023 at the earliest’. Indeed, the US Federal Reserve chair Jerome Powell just recorded an interview for the US 60 Minutes program yesterday. Here’s some of what he said on inflation and rates:

Well, what we said was we want to see inflation move up to 2%. And we mean that on a sustainable basis. We don’t mean just tap the base once. But then we’d also like to see it on track to move moderately above 2% for some time. And the reason for that is we want inflation to average 2% over time. And when we get that, that’s when we’ll raise interest rates….

I think it’s highly unlikely we would raise rates anything like this year, no. Other members of the Fed board don’t see a rate increase even in 2022.

The RBA has made similar comments in recent weeks.

To fight the Fed or to not… that is the question

What is interesting is that investors are not taking these central banks seriously. As we’ve been discussing for a few months now, long-term government bond yields have been steadily rising over the past two or so months. The rises are telling us that the bond markets are pricing in higher inflation and interest rate hikes much sooner than 2023 or 2024. 

So it appears the old ‘fight the Fed’ adage is losing steam. But here’s the problem for ASX investors. Some investors have indeed been reacting to rising government bond yields. That’s why we have seen immense volatility in ASX tech shares and other ASX growth shares over the past month or two. These investors are ‘fighting the Fed’ by extension because if the Fed is right, and rates don’t move until 2023, the bond markets are wrong. And therefore making investment decisions based on these moves is also misguided. 

It’s an interesting dynamic to be sure, and one all ASX investors might want to keep an eye on. Someone will be right and the other won’t be. And that’s a binary that investors won’t want to be on the wrong side of. 

More reading

• ASX 200 energy shares outlook boosted by mega African oil project
• ASX 200 down 0.3%: Webjet completes note offering, Xero pushes higher
• ASX 200 Weekly Wrap: ASX sees 7,000 points once more
• 5 things to watch on the ASX 200 on Monday
• These were the best performing ASX 200 shares last week

Motley Fool contributor Sebastian Bowen 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 Payright Ltd (ASX: PYR) share price is soaring today after the company delivered both a record month and a record quarter. The Australia-based buy now, pay later (BNPL) provider released an overview of its results from the quarter ending March 2021 this morning. It was met with enthusiasm from investors.

The Payright share price reached an intraday high of 75 cents, up 15% from Friday’s close, but it has since partially retreated.

At the time of writing, Payright shares are trading at 73 cents, up 12.31% from Friday’s close.

Let’s look closer at the company’s prosperous 2021.

Record breaking performance from Payright

The quarter ending March 2021 was Payright’s best yet, the company announced this morning. Further, it announced that March 2021 saw the company deliver its best monthly performance ever.

Over the quarter, Payright’s gross merchandise value (GMV) rose 38%, bringing in more than $22 million.

The number of customers using the BNPL service increased by 52% to around 47,500. Meanwhile, the number of merchants offering the service rose by 43% to more than 3,100.

The company stated that these merchants now include home improvement retailers Australian Outdoor Living, Stratco and Into Blinds.

Payright’s underlying losses related to credit defaults were similar to those of previous quarters at around 1.64%.

The quarter’s results follow on from positive half-year results. In the six months ending 31 December, Payright posted a 38% revenue increase, reaching $5.8 million. 

Is Bill Smoothing driving the Payright share price?

The Payright share price boomed when it announced the launch of its Bill Smoothing payment option late last month, and the company believes it will underpin further growth.

Bill Smoothing is a direct to customer service. It allows customers to spread the cost of household bills, including utilities, car and home insurance premiums, council rates, and vehicle registrations over longer periods of time.

It allows for payments to be made over three months for bills worth less than $1,000.

Bill Smoothing was launched for existing customers last month. It’s set to launch in the coming weeks to new customers.

Management commentary

Payright joint CEOs Myles Redward and Piers Redward commented on the company’s activities and its successful quarter. Myles said:

We have a very clear understanding and picture of Payright’s competitive positioning and resulting growth opportunities, and we’re focused on playing to our key points of competitive difference, being higher price-point BNPL and a more diversified merchant mix. The operational results achieved over the March 2021 quarter clearly show the success of our strategy in underpinning sustainable growth in a rapidly changing industry.

Piers added:

Our ongoing focus on sustainable growth in customers and merchant partners is paying dividends and, we expect that impetus to continue as we continue to expand our suite of products and enhance the online experience and capability.

Payright share price snapshot

While 2021 has been good to Payright’s business, the same cannot be said for its share price.

Currently, the Payright share price is down by around 26% year to date. It’s also down by nearly 30% over the last 12 months.

Payright has a market capitalisation of around $38.5 million, with approximately 89 million shares outstanding.

More reading

• Afterpay (ASX:APT) leads Zip by 40% on one critical measure
• Airtasker (ASX:ART) share price cools after explosive IPO
• Here’s why the Payright (ASX:PYR) share price is soaring 9% today

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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A Western Australian man on Friday faced charges of insider trading of ASX shares that could send him to 10 years’ imprisonment and owe a $495,000 fine.

The 50-year-old man’s case was heard in Perth Magistrate’s Court, involving his trading of stocks in Lonrho Mining Limited, which is now called Lucapa Diamond Co Ltd (ASX: LOM).

He was arrested after a collaborative investigation between Australian Federal Police, Australian Securities and Investments Commission, Australian Taxation Office and the Australian Criminal Intelligence Commission.

The authorities claim the man became aware in 2012 that Lucapa had discovered a very large diamond in Africa – news that was not yet public.

Using this private knowledge, it’s alleged the man bought up shares in the small-cap exploration company on behalf of a family member. 

He is also accused of passing the tip onto a client, who did not act on the advice.

Trading shares with inside knowledge is a serious offence

This all allegedly happened the day before Lucapa shares were placed in a trading halt – and 5 days before the discovery was publicly announced.

The Lucapa share price understandably jumped once the market knew of the news. The shares that the man bought increased by $6,000 in value.

The man faced two charges in court – one of insider trading and another of communicating inside information to a person that could lead to insider trading.

The Motley Fool has contacted Lucapa for comment.

Lucapa shares were up 1.61% on Friday to trade at 6.3 cents at market close.

ASIC this year revealed its intention to scrutinise insider trading offences more closely, offering immunity to those who came forward with information that triggers a new investigation.

More reading

• Why the Lucapa Diamond (ASX:LOM) share price leapt on open today

Motley Fool contributor Tony Yoo 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 Alpha HPA Ltd (ASX: A4N) share price is falling today after the company announced an agreement with global materials company Saint Gobain. 

The Alpha share price is down 2.8% at the time of writing, trading at 52 cents per share. 

Alpha is an Australian based mineral exploration and development company. The company is focused on the Collerina aluminium-nickel-cobalt project in central New South Wales. It operates through the following segments: HPA First Project, minerals exploration in New South Wales, and minerals exploration in Indonesia.

Alpha’s MoU with Saint Gobain

Alpha has signed a memorandum of understanding (MoU) with Saint Gobain for the product evaluation, development and commercial supply of Alpha’s high-purity aluminas and boehmites. 

The MoU will essentially result in a wide-ranging partnership, in which Saint Gobain will assist with work across the entirety of Alpha’s product range.

The Alpha share price has been a big mover of late. The company is now focused on producing high-quality surface conditioning, battery materials and crystals in various emerging markets. 

Alpha investors may be concerned with the lack of individuality the MoU allows, with intellectual property rights to be potentially shared between the two businesses. Alpha will now work closely on joint product ventures with Saint Gobain’s proprietary aluminium purification technology department.

What is Saint Gobain?

Saint Gobain is listed on the stock markets of London, Frankfurt, Brussels and Amsterdam, among other major European cities. It employs more than 150,000 people for its global manufacturing and materials business.

Its statement of aims includes reducing global emissions and reliance on fossil fuels. The company is interested in the next generation of building materials and sustainable design.

Alpha share price snapshot

The Alpha share price has risen 311% over the past 12 months and is currently at an all-time high of above 50 cents. It has increased rapidly from just 12 cents in May last year and is also up 69% so far in 2021. 

More reading

• ASX 200 energy shares outlook boosted by mega African oil project
• ASX 200 down 0.3%: Webjet completes note offering, Xero pushes higher
• Why the 3P Learning (ASX:3PL) share price is soaring 7% today
• The Mach7 (ASX:M7T) share price jumps 11% on record quarterly update
• Why Anteotech, Credit Clear, Galaxy, & Mach7 shares are storming higher

Motley Fool contributor Lucas Radbourne-Pugh 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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S&P/ASX 200 Index (ASX: XJO) energy shares took a wallop during the early months of the COVID-19 pandemic.

The Oil Search Ltd (ASX: OSH) share price, as one example, crashed 71% from 10 January through to 20 March.

Santos Ltd (ASX: STO) shareholders didn’t fare much better, with the Santos share price crumbling 66% over that same time.

Both of the ASX 200 oil and gas shares have made strong rebounds since that low. But both remain well down from their 10 January 2020 levels.

Despite rebounding 75% from the 20 March 2020 lows, Oil Search shares are still down 48%.

Santos shares performed significantly better, gaining 132% from the 2020 March lows. Yet they too are still down 20% from their January 2020 levels.

What this mega African oil project portends for Aussie oil and gas shares

With talk of ‘peak oil’ ramping up as the world gets serious about reducing greenhouse gas emissions, ASX 200 investors may be avoiding Aussie oil and gas shares for fear that the best could be behind them.

But those fears might prove highly premature.

The initial big rebounds in ASX 200 energy shares came as investors realised that the pandemic lockdowns and travel bans wouldn’t last forever. Now international travel and some domestic travel remains restricted today. But as those restrictions continue to ease, demand for oil and gas to fuel the world’s planes, ships and non-electric ground transport will ramp up over the medium term.

Longer-term, renewable energy sources powering EVs will gradually see the globe demanding less oil.

But, if the new mega African project by US oil giant Total SE (NYSE: TOT) is anything to go by, any major decrease in global oil demand isn’t going to happen overnight. Or even close…

As Bloomberg reports:

The sheer size of the demand that oil companies are anticipating in a lower-carbon future explains why Total is ready to spend $5.1 billion to drill along the remote shore of Lake Albert in Uganda and build a 1,443-kilometer (897-mile) heated pipeline to transport the waxy crude for export at the port of Tanga in Tanzania.

Total estimates the project contains some 1 billion barrels of oil.

If that sounds like a lot of oil, it is. But that 1 billion barrels will only sustain the world’s appetite for oil for roughly 10 days.

According to data from BP, the world burned through 98 million barrels of oil per day in 2019. And BP doesn’t forecast that demand will disappear anytime soon.

Its rosier forecasts (from a low carbon viewpoint) see the world consuming 51 million barrels of oil per day by 2040. Or about a 48% decline.

Its ‘business as usual’ forecasts see only a 4% reduction in global oil demand by 2040, down to 94 billion barrels of oil per day.

Those figures do represent an alarming amount of carbon emissions. However, many in the fossil fuel industry are convinced that carbon capture (via new technologies) and offsetting (via planting trees) will still enable oil and gas companies to attain net-zero status by 2050.

Two leading ASX 200 energy shares

With the demand for oil forecast to rebound in the medium term as the pandemic is inexorably brought under control and to remain robust longer-term by BP’s analysis, ASX 200 oil and gas shares could be in for another leg up.

I mentioned 2 of the leading ASX 200 energy shares above.

Oil Search has a market cap of $8.5 billion and pays an annual dividend yield of 1.8%, unfranked.

Over the past 12 months, the Oil Search share price is up 47%. That’s well ahead of the 27% gains posted by the ASX 200. Year-to-date Oil Search shares have gained 7%.

Santos is an ASX 200 heavyweight, with a market cap of $14.7 billion. It pays a dividend yield of 1.3%, fully franked.

Santos shares have gained 55% over the past 12 months and the Santos share price is up 10% so far in 2021.

More reading

• ASX 200 down 0.3%: Webjet completes note offering, Xero pushes higher
• ASX 200 Weekly Wrap: ASX sees 7,000 points once more
• 5 things to watch on the ASX 200 on Monday
• These were the best performing ASX 200 shares last week
• These were the worst performing ASX 200 shares last week

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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At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week on a disappointing note. The benchmark index is currently down 0.3% to 6,975.5 points.

Here’s what is happening on the market today:

Webjet settles its convertible note offering

The Webjet Limited (ASX: WEB) share price is trading lower today after announcing the successful settlement of the issue of $250 million convertible notes due in 2026. As a result, the notes will be listed on the Singapore Stock Exchange on 13 April. In addition, the online travel agent has received conversion notices for 100 million euros of its existing 2.5% convertible notes due in 2027. This has resulted in the issue of 39,682,298 ordinary shares and a cash payment of A$33.3 million.

Xero share price climbs on broker note

The Xero Limited (ASX: XRO) share price is pushing higher today after being the subject of a positive broker note out of Goldman Sachs. According to the note, the broker has retained its buy rating but trimmed its price target slightly to $153.00. Goldman was pleased with its recent acquisitions of Tickstar and Planday and sees an attractive opportunity in the Scandinavia market. Its industry data also appears to indicate that Xero has continued its strong growth.

Perenti contract win

The Perenti Global Ltd (ASX: PRN) share price is edging lower today despite announcing a major contract win. According to the release, the engineering company’s subsidiary, African Underground Mining Services, has secured a new two-year contract to continue operations at AngloGold Ashanti’s Geita Mine in Tanzania. The two-year contract will take effect immediately and increases Perenti’s current work in hand by ~A$235 million.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Monday has been the Pilbara Minerals Ltd (ASX: PLS) share price with a 4% gain. This may have been driven by a positive update from one its lithium rivals. The worst performer has been the Kogan.com Ltd (ASX: KGN) share price with a 5% decline on no news. This latest decline means Kogan’s shares are now down 35% since the start of the year.

More reading

• ASX 200 energy shares outlook boosted by mega African oil project
• Why the Xero (ASX:XRO) share price can go even higher from here
• ASX 200 Weekly Wrap: ASX sees 7,000 points once more
• 5 things to watch on the ASX 200 on Monday
• These were the best performing ASX 200 shares last week

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 Xero. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The 3P Learning Ltd (ASX: 3PL) share price is soaring in morning trade, up by 6.72% to $1.35.

This comes following the ASX education software company reporting on a merger this morning alongside a key resignation.

What did 3P Learning report on a merger?

3P Learning shares are moving higher this morning after the company reported its intent to merge with Blake eLearning Pty Ltd.

The merger, intended to create a leading EdTech platform (MergeCo), will see 3PL acquire 100% of the equity in Blake for an all-share purchase price equivalent of $185 million. 3PL stated it will issue 137 million shares at $1.35 per share. That’s 7.14% above Friday’s closing price of $1.26 per share.

Blake is a privately owned Australian based company that provides online educational tools for young children through to year 10 students.

3PL stated that the two companies have identified “significant synergies and strategic cost efficiencies” in the range of $7.5 to $12.5 million annually.

Commenting on the merger, 3PL chair Sam Weiss said:

The proposed merger provides an opportunity to unite two complementary businesses with a long-standing relationship which, if approved, should propel 3PL’s current growth trajectory and broaden its customer reach.

The merger still requires shareholder approval of more than 50% at a general meeting the company expects to take place in mid to late May. The 3PL board is unanimously in favour of the merger.

3PL CEO resigns

In a separate announcement this morning, 3PL reported it has accepted the resignation of the company’s CEO and managing director, Rebekah O’Flaherty.

O’Flaherty will remain in her role for the next two months, working with Sam Weiss during the transition period for the acquisition of Blake.

Commenting on O’Flaherty’s departure, Weiss said:

In the five years of her tenure as CEO, Rebekah has overseen a major transformation of our company with the overhaul of our technology platform, the modernisation of digital engagement tools and improvements to our product offer.

3P Learning share price snapshot

Over the past 12 months, the 3P Learning share price has gained around 53%. By comparison, the All Ordinaries Index (ASX: XAO) is up 31% over that same time.

Year to date, the 3P Learning share price is up 3%

More reading

• The Mach7 (ASX:M7T) share price jumps 11% on record quarterly update
• Why Anteotech, Credit Clear, Galaxy, & Mach7 shares are storming higher
• Should investors be stashing cash right now?
• Centuria Industrial (ASX:CIP) share price falls despite acquisition news
• Credit Clear (ASX:CCR) share price jumps 10% on Q3 update and Suncorp contract win

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 Mach7 Technologies Ltd (ASX: M7T) share price jumped 11.5% higher on Monday after the company announced record quarterly results. 

What’s driving the Mach7 share price higher? 

The Mach7 share price is surging today after the medical imaging solutions software company announced its highest ever cash receipts. 

The company delivered $8.4 million in cash receipts in the third quarter, a significant 98% increase over Q2. The large inflow of cash translated to a positive $3.33 million cash flow from operations.

This represents a significant milestone for the loss-making company, which is on track to deliver a positive free cash flow for the full year. 

New sales orders and contracts drive growth 

Mach7 revealed that it had signed a number of new contracts and sales orders in the third quarter. This included contracts with large hospital networks including Adventist Health West System, Metro Health, Ambra Health, Hospital Authority of Hong Kong and St Teresa’s Hospital (Hong Kong). 

The quarterly update also praised its partner resellers that continued to make valuable contributions to sales orders.

Mach7 share price shaking off February half-year results 

The Mach7 share price was heavily sold off after its February half-year results. The results could have missed expectations after reporting a 24% increase in sales to $10.9 million. Its management also noted that COVID-19 had caused some disruption to sales and new contracts. 

Factors such as the half-year results selloff combined with broader weakness in tech shares saw the Mach 7 share price slump 25% between 18 February and 16 March. 

Today’s announcement has put the Mach 7 share price back on track and within 10% of its all-time record highs. Its shares have experienced a significant spike in volume on Monday, with 1 million shares traded at the time of writing, compared to its 10-day average of 370,000 shares. 

More reading

• Why Anteotech, Credit Clear, Galaxy, & Mach7 shares are storming higher
• 2 quality ASX healthcare shares to buy and hold
• 3 exciting small cap ASX shares that could be destined for big things

Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends MACH7 FPO. The Motley Fool Australia has recommended MACH7 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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It has been a subdued start to the week for the S&P/ASX 200 Index (ASX: XJO). In late morning trade, the benchmark index is down 0.3% to 6,972.1 points.

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

Anteotech Ltd (ASX: ADO)

The Anteotech share price has jumped 8% to 27 cents. Investors have been buying the surface chemistry company’s shares after it announced the receipt of CE Mark registration for the EuGeni Rapid Test Platform and COVID-19 Antigen Rapid Test. This registration means that the technology conforms with health and safety protection standards for products sold within the European Economic Area and the United Kingdom. As a result, a product launch is expected later this month.

Credit Clear Ltd (ASX: CCR)

The Credit Clear share price is up almost 5% to 76 cents. This morning the debt recovery platform provider announced a new contract win with insurance and banking giant Suncorp Group Ltd (ASX: SUN). In addition, Credit Clear revealed that its unaudited third quarter revenue grew 30% over the second quarter to more than $2.7 million.

Galaxy Resources Limited (ASX: GXY)

The Galaxy share price has charged 7.5% higher to $3.20. This follows the release of an update on its performance during the March quarter. According to the release, the lithium producer’s Mt Cattlin operation successfully ramped back up to nameplate capacity during the quarter. This led to Galaxy reporting quarterly production of 46,588 dry metric tonnes of lithium concentrate, up 39.7% on the previous quarter.

Mach7 Technologies Ltd (ASX: M7T)

The Mach7 share price has jumped over 11% to $1.40 following the release of its third quarter update. According to the release, the enterprise imaging platform provider achieved record quarterly cash receipts of $8.4 million during the quarter. This was almost double its second quarter cash receipts. Furthermore, Mach7 generated $12.84 million (total contract value) of new sales orders for the quarter. This was up from $7.6 million in the second quarter, taking the total year to date figure to $23.58 million.

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James Mickleboro owns shares of Galaxy Resources Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends MACH7 FPO. The Motley Fool Australia has recommended MACH7 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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