The Australian dollar has just hit a new 2-year high.

Yes, our national currency hit a new high overnight. According to reporting in the Australian Financial Review (AFR) this morning, the dollar hit a high of 74.53 US cents last night, which is reportedly its highest level since August 2018 – more than 2 years ago. The dollar has pulled back somewhat since, and is trading at 74.17 US cents at the time of writing.

Why the dollar is on the rise

So why is our dollar pushing these new highs? It’s likely that a significant factor is the rising prices of commodities that we have witnessed over the past month. As I’m sure most readers would be aware, mining and processing of commodities like iron ore, gold, oil and coal form a large component of the Australian economy. And over the past month alone, we have seen iron ore go from under US$120 per tonne to today’s price of more than US$145 per tonne.

Likewise, Brent crude oil has appreciated from just under US$38 per barrel a month ago to today’s price of US$49.25. And since 30 November, gold has risen from ~US$1,770 per ounce to today’s price of US$1,865.50 per ounce.

Because Australia exports large volumes of these commodities (particularly iron ore), rising prices mean overseas buyers have to exchange more US dollars for Australian dollars, increasing the demand for Aussie dollars. This, under the laws of supply and demand, has the effect of pushing our dollar up in response.

So is the Aussie dollar going to continue to climb and make new highs? Are we heading back, perhaps, to the days of parity with the greenback?

Well, the AFR quotes currency strategists from National Australia Bank Ltd (ASX: NAB) on that matter:

Markets remain in consolidation mode as we await Brexit and US stimulus developments… After no breakthrough, PM Johnson and the EU Commission President will now meet in person in coming days, so hopes for an EU-UK trade deal survive another day. Meanwhile US Congress bipartisan negotiators are still ongoing on a $908 billion pandemic relief package.

So, that’s a ‘not anytime soon’ from NAB, it seems.

What does this mean for ASX shares?

As I discussed a fortnight ago, a higher dollar is, in simplistic terms, good news for companies that import goods and services, and bad news for those that export. Thus, companies like JB Hi-Fi Limited (ASX: JBH), Bapcor Ltd (ASX: BAP) and Harvey Norman Holdings Limited (ASX: HVN) are probably cheering this development, as it allows them to import TVs, car parts and computers at a lower cost.

But for miners like BHP Group Ltd (ASX: BHP) and Newcrest Mining Ltd (ASX: NCM), as well as any other company that sends products overseas, the news isn’t so sweet (although the miners do have high commodity prices to help ease the pain).

More reading

• This dividend share has the most franking credits on the ASX
• The BHP (ASX:BHP) share price has just hit a multi-year high
• Why Bapcor, Event, Money3, & Tyro shares are dropping lower
• ASX 200 up 0.7%: Metcash impresses, BHP & Fortescue storm higher, Xero given buy rating
• Why ASX iron ore stocks are set to rally today

Motley Fool contributor Sebastian Bowen owns shares of National Australia Bank Limited and Newcrest Mining Limited. The Motley Fool Australia owns shares of and has recommended Bapcor. 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 Woodside Petroleum Limited (ASX: WPL) share price is trading flat today on news that CEO Peter Coleman plans to retire next year. At the time of writing, the Woodside share price is down just 0.04% at $23.14. In comparison, the S&P/ASX 200 Index (ASX: XJO) is up 0.3% at 6,692 points.

CEO retirement

The market was advised this morning that Mr Coleman had announced his intention to retire. While the CEO’s exit won’t take effect until the second half of 2021, Woodside has begun to search for a new replacement.

Mr Coleman’s decision to retire comes as the company has set itself up for a bumper year ahead. During the year, management has taken steps to ensure the continuity of its operations. The company says its on track to deliver record production in its next report, and growth plans are progressing along expectations.

What did management say?

Commenting on the retirement news, Woodside chair Richard Goyder said:

Peter has been an outstanding CEO and his focus on safety, base business and operational excellence have created a resilient and future-focused organisation. His commitment to prudent capital management and maintaining a strong balance sheet and liquidity has complemented his track-record for operational excellence.

Peter is a corporate leader in safety and environmental performance, inclusion and diversity, gender equality, and Indigenous respect and awareness and has entrenched these values in Woodside’s culture.

Mr Coleman said his decision to retire in 2021 would ensure “continuity to support the Scarborough investment decision, which will transform Woodside, while ensuring our international projects in Senegal and Myanmar maintain their positive momentum”.

The company has been reset with a strong platform for the future, with the next stage of our journey ready for a new CEO to take the required ownership of Woodside’s significant growth projects.

About the Woodside share price

The Woodside share price has had a rough 9 months as COVID-19 disrupted oil and gas markets and sent its shares sinking. During March, the share price dropped as low as $14.93, a price not seen since 2004.

Woodside shares are trading 34% lower than at the start of the year.

More reading

• ASX 200 up 0.1%: Bank of Queensland update, Link jumps, Woodside CEO to retire
• Why G8 Education, Metcash, Woodside, & Zip shares are dropping lower
• ASX small caps could get a boost with the Aussie dollar hitting 28-month highs
• 5 things to watch on the ASX 200 on Tuesday
• ASX 200 rises on Monday

Motley Fool contributor Aaron Teboneras owns shares of Woodside Petroleum Ltd. 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 Tali Digital Ltd (ASX: TD1) share price is surging by nearly 30% today, after the company announced it has signed an investment and advertising agreement with the Times Group of India. At the time of writing, the Tali Digital share price is trading at 4.8 cents after closing its previous session at 3.7 cents.

What’s driving the Tali Digital share price?

The Tali Digital share price is rocketing higher after the digital health company advised the new agreement was signed with Brand Capital International (BCI), which is part of the Times Group of India.

Under the investment agreement, BCI will make an initial investment of US$2 million into Tali. This will see BCI receiving 81.8 million shares in Tali at 3.3 cents per share, representing 9.8% of the company.

There is also a clause for additional investments by BCI of up to $US5 million, which will be at the mutual agreement of both parties.

The advertising agreement, meanwhile, will see The Times Group of India become Tali’s channel partner in promoting the sales of its ‘Tali Detect’ and ‘Tali Train’ cognitive performance tools into India.

Funds from the initial investment will be utilised for the advertisement agreement with The Times Group, which will provide Tali access to 550 million people every month.

Big potential in India

Tali says the Indian market represents a significant growth opportunity for the company.

Almost one in eight children in India between the ages of 2 and 9 years are estimated to have at least one neuro-developmental disorder. This represents a direct opportunity for Tali to target its products to a market of approximately 30 million children.

India also possesses the world’s second largest middle-class population with approximately 340 million people, and is set to surpass China in size by 2035.

The Tali Detect and Tali Train cognitive performance tools have already been launched in India via the iOS and Android app stores in October 2020.

Today’s agreement with the Times Group will provide a platform for these products to be directly marketed to the Indian consumer via the Times Group’s 360-degree media assets, which include popular print, television, radio and digital channels in India.

Tali Digital managing director Glenn Smith said that India provides a significant growth opportunity for the company.

We are pleased to be partnering with Brand Capital International in the Indian market. This deal will provide significant exposure possible in growing the Indian market opportunity for Tali.

What are ‘Tali Detect’ and ‘Tali Train’?

Tali Detect and Tali Train are digital tools to help children with attention and learning difficulties.

The technology combines 25 years of research in developmental psychology and cognitive neuroscience to deliver game-based digital programs to assess and strengthen attention capabilities early in life.

In developing these products, Tali has leveraged research from one of Australia’s leading neuroscience institutes – the Monash Institute of Cognitive and Clinical Neurosciences – to build algorithms that produce reports for parents, teachers and healthcare partners.

About the Tali Digital share price

In October, Tali made an announcement reporting its products had been clinically validated, and had achieved regulatory clearance in the United States and the European Union.

The company advised that commercialisation of its products would be executed throughout the remainder of FY21. 

The Tali Digital share price has made grounds since losing 70% of its value in March, at the height of the pandemic. After today’s rise, Tali shares are now almost back at the same level at which they began 2020.

The company commands a market capitalisation of around $28 million.

More reading

• Why the Tali Digital (ASX: TD1) share price has rocketed 40% today

Motley Fool contributor Eddy Sunarto 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 Youfoodz Holdings Limited (ASX: YFZ) share price has had a very disappointing start to life as a listed company after completing its initial public offering (IPO) this morning.

At the time of writing, the ready-made meal company’s shares are down 25% from their listing price to $1.12

The Youfoodz IPO.

Youfoodz listed on the Australian share market after raising $70 million via the issue of 46,725,779 shares at a price of $1.50 per share. This gave the company a market capitalisation of approximately $202 million.

The company revealed that it launched its capital raising to provide it with access to capital markets, which it expects will provide funding and financial flexibility to pursue its growth initiatives.

These initiatives include marketing, product development, the fit out of a new purpose-built manufacturing facility, and other growth opportunities.

In addition to this, the IPO will allow it to repay its shareholder loan, broaden its shareholder base, and provide a liquid market for its shares.

What is Youfoodz?

Youfoodz generates revenue from the sale of its fresh, ready-made meals, snacks, and drinks. The company operates a complementary omni-channel sales model whereby products are distributed through both B2C and B2B channels.

Its B2C offering is facilitated through a user-friendly online and mobile application platform. This platform allows customers to select from the full product range of Youfoodz’ products to create an order.

In FY 2020 the company generated revenue of $127.3 million and recorded a loss after tax of $6.2 million.

Whereas in FY 2021, Youfoodz is forecasting a 17.8% increase in revenue to $149.9 million and an improved net loss of $0.6 million.

This is still only a small slice of its overall market opportunity. In FY 2020, the Australia and New Zealand market for ready-made meals was estimated to be worth $3.2 billion at retail prices.

More reading

• Cimic (ASX:CIM) share price flat despite another contract win
• ASX 200 up 0.1%: Bank of Queensland update, Link jumps, Woodside CEO to retire
• Why Adairs, Link, Nuix, & Tyro shares are charging higher
• Why the Gold Road (ASX:GOR) share price is lifting today
• This dividend share has the most franking credits on the ASX

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

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Cimic Group Ltd (ASX: CIM) shares are flat today despite the company announcing a new contract win with Rail Projects Victoria for a yet-to-be disclosed amount. 

At the time of writing, the Cimic share price is up just 0.07% at $26.58.

The scope of work

Cimic says Rail Projects Victoria has appointed its business, UGL, as preferred tenderer to improve rail services for Victoria’s Gippsland Line.

The value of the contract has not been disclosed, and the company says revenue to UGL will be confirmed at contract execution.

The scope of the project includes second platforms and station amenity works at three stations along the line and reactivating the second platform at Traralgon. Civic will also perform track duplication, level crossing upgrades for safety and reliability, as well as improvements to signaling, train control systems and freight passing loops.

Cimic Group chief executive said this was not the first time that Cimic has worked on a project for Rail Projects Victoria.

“We are pleased to build on our relationship with Rail Projects Victoria to deliver improved rail services on the Gippsland Line, benefitting the growing communities of Gippsland, and creating jobs in the region.”

Other recent contract wins

Today’s contract is the second major contract that the engineering company has announced within the space of a week.

Last Friday, the company announced several new contract wins for UGL worth $112 million. Those contracts were in the utilities sector, involving the state governments and electricity network operator Transgrid, to build electricity transmission lines.

Cimic was also recently selected by the Australian Government’s Department of Defence to deliver the development phase of the Australia-Singapore Military Training Initiative (ASMTI) facilities project in North Queensland. That project is worth $800 million in revenue.

How did the Cimic share price perform in 2020?

The Cimic share price has lost around 20% of its value in 2020. This comes alongside the cyclical downturn in general construction activities globally as a result of the COVID-19 pandemic. 

Cimic shares dropped to $11.87 in March, their 52-week low, before recovering to today’s level. Cimic currently commands a market capitalisation of $8.3 billion.

More reading

• ASX 200 goes up on Friday
• Cimic (ASX:CIM) share price inches up on $112 million contract wins
• Former exec of ASX giant arrested over bribery scandal
• CIMIC (ASX:CIM) share price on watch after $800m Australian Defence contract win

Motley Fool contributor Eddy Sunarto 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 Tuesday the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. The benchmark index is currently up 0.1% to 6,681 points.

Here’s what has been happening on the market today:

Bank of Queensland update.

The Bank of Queensland Limited (ASX: BOQ) share price is trading lower today despite the release of a positive business update. As well as revealing that it is performing in line with expectations in FY 2021, the regional bank reported a significant reduction in COVID-related loan deferrals. At the end of November, just 3% of its housing loans and 3% of its small to medium sized business (SME) loans were on deferral. This represents an 80% and 82% reduction, respectively, since the end of June.

Link share prices rockets higher.

The Link Administration Holdings Ltd (ASX: LNK) share price is rocketing higher today after receiving an unsolicited takeover approach from SS&C Technology. The Nasdaq listed company has tabled an offer of $5.65 per share, which represents a 13.9% premium to Link’s last close price. The Link board advised that it will consider the SS&C proposal and provide further updates when necessary. This offer is 4.6% higher than the $5.40 per share offered by a consortium comprising Pacific Equity Partners and Carlyle Group.

Woodside CEO to step down.

The Woodside Petroleum Limited (ASX: WPL) share price is edging lower after the energy producer announced the retirement of its Chief Executive Officer, Peter Coleman. After 10 years in the role, Mr Coleman advised that he believes now is the right time to retire and transition leadership. Woodside has commenced an internal and external search for the company’s next CEO

Best and worst ASX 200 performers.

The best performer on the ASX 200 on Tuesday by some distance has been the Link share price with a 14% gain following its takeover approach. Going the other way, the worst performer has been the G8 Education Ltd (ASX: GEM) share price with a 5.5% decline. This was driven by the release of a trading update by the childcare operator this morning.

More reading

• Why Adairs, Link, Nuix, & Tyro shares are charging higher
• Why G8 Education, Metcash, Woodside, & Zip shares are dropping lower
• ASX small caps could get a boost with the Aussie dollar hitting 28-month highs
• Bank of Queensland (ASX:BOQ) share price in focus after business update
• G8 Education (ASX:GEM) share price on watch after trading update

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 Link Administration Holdings Ltd. The Motley Fool Australia has recommended Link Administration Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) has fought back from an early decline and is pushing higher. In late morning trade the benchmark index is up 0.2% to 6,689.3 points.

Four shares that are climbing more than most today are listed below. Here’s why they are charging higher:

Adairs Ltd (ASX: ADH)

The Adairs share price has jumped over 8.5% to $3.50. This follows the release of a trading update by the homewares retailer this morning. For the first 23 weeks of FY 2021, Adairs reported a 23.4% increase in total Adairs sales compared to the prior corresponding period. The company’s Mocka business was an even stronger performer, reporting a 45.1% increase in sales. In light of this positive performance, management is forecasting exceptionally strong earnings growth in the first half.

Link Administration Holdings Ltd (ASX: LNK)

The Link share price has surged 14% higher to $5.66. This follows the receipt of a second takeover approach. SS&C Technology has tabled an offer of $5.65 per share. This represents a 13.9% premium to Link’s last close price. It is also higher than the offer made by a consortium comprising Pacific Equity Partners and Carlyle Group. It is currently conducting due diligence after offering $5.40 per share.

Nuix Ltd (ASX: NXL)

The Nuix share price has risen 4.5% to $9.45. Investors continue to scramble to get hold of the investigative analytics and intelligence software provider’s shares following its IPO last week. The Nuix share price is now up over 78% since listing at $5.31.

Tyro Payments Ltd (ASX: TYR)

The Tyro share price has risen 4.5% to $3.48. This appears to have been driven by a broker note out of Macquarie this morning. According to the note, Macquarie has upgraded Tyro’s shares to a neutral rating from underperform. The broker has also lifted its price target to $3.50. It has been pleased with the payments company’s recovery since the height of the pandemic.

More reading

• Why the Adairs (ASX:ADH) share price has rocketed up 13% today
• Red hot ASX IPOs that you might have missed from last week
• Link (ASX:LNK) share price on watch after receiving second takeover approach
• 5 things to watch on the ASX 200 on Tuesday
• Watch out! ASX IPO boom may sink the ASX bull market in 2021

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 Link Administration Holdings Ltd and Tyro Payments. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends ADAIRS FPO. The Motley Fool Australia has recommended ADAIRS FPO and Link Administration Holdings 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 Gold Road Resources Ltd (ASX: GOR) share price has been all over the map this year.

After falling 54% from 24 February through to 16 March during the COVID-driven market panic, shares surged 144% to reach an all-time high of $1.98 by 22 July. Since that high, shares have retraced by 35%, currently trading at $1.26.

Following on a renewable energy upgrade announcement at its Gruyere gold mine this morning, and a slight uptick in the price of gold, the share price is up 1.2% in morning trade.

What does Gold Road Resources do?

Gold Road is an Australian gold producer. The company has a Tier 1 mine and exploration projects in the Yamarna Greenstone Belt in Western Australia’s north-eastern Goldfields.

Gold Road owns 50% of the Western Australia Gruyere gold mine, developed in joint venture with Gold Fields Ltd. According to the company, Gruyere is one of Australia’s biggest and lowest-cost gold mines, expected to produce 300,000 ounces per year over the next 11 plus years.

Gold Road is part of the S&P/ASX 200 Index (ASX: XJO).

What’s driving the Gold Road share price higher?

In an announcement to the ASX this morning, Gold Road revealed a major hybrid renewable power expansion initiative at its jointly held Gruyere Gold Mine.

APA Group (ASX: APA) will install a 4-megawatt (MW) reciprocating gas-fired engine by the middle of next year. APA will also construct, own and operate a 13MWp solar farm and a 4.4MW battery energy storage system. That’s expected to be complete by the end of 2021.

The company estimates the cost between $32–38 million. The benefits include increased power capacity to 64MW; reduced carbon emissions; 5% energy cost savings; and increased throughput to 10 million tonnes per annum.

Commenting on the new initiatives, Gold Road CEO Duncan Gibbs said:

Gold Road is proud to be part of this green energy initiative… The power expansion at Gruyere provides an elegant technical solution that reduces greenhouse gas emissions, decreases costs and enables an increase in plant capacity up to a targeted 10 Mtpa from the current nameplate design of 8.2Mtpa.

This will, not only see increased annual cash flow generation for the business, but it will help drive additional unit cost reductions as Gruyere is further defined as a tier one, low cost and long life gold producer.

More reading

• Got money to invest? Here are 3 ASX dividend shares to buy
• 3 ASX dividend shares to buy in December
• APA Group (ASX:APA) share price flat despite major project news
• ASX 200 Weekly Wrap: ASX continues to climb, despite outage
• 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 owns shares of APA Group. 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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When it comes to ASX dividend shares, most income investors tend to focus on the trailing dividend yield a company has on offer at any one time. Sure, there is something to be said for a high yield.

Thus, it’s understandable that a company like Telstra Corporation Ltd (ASX: TLS), with its 16 cents a share dividend offering 5.23% yield, is arguably more attractive from an income standpoint than, say, Woolworths Group Ltd (ASX: WOW), which currently offers just 2.44% on current pricing.

But, almost uniquely in Australia, the dividend yield of an ASX share isn’t the only thing that matters for income investors. There’s also the franking credits. Franking is a system that most other countries don’t have. It means that shareholders of a company can be acknowledged for the tax ‘their’ company has already paid.

In the United States, for example, a company’s dividend is effectively taxed twice. That’s once at the corporate level, and once at the investor level as income tax.

But here in Australia, company dividends derived from a pool of Australia-taxed profits come with a ‘receipt’ for this tax. Shareholders can offset this against other income (or claim as a cash refund). These ‘receipts’ are known as franking credits, and they can significantly increase an ASX dividend share’s income potential.

ASX franking heroes

We already touched on how Telstra shares are offering a 5.23% yield on current prices. But Telstra’s dividend also comes with full franking credits. That means, if you include the benefits of this franking, Telstra’s grossed-up yield rises to a whopping 7.47%.

Franking credits are generated by paying corporate tax to the Australian Taxation Office (ATO). Thus, a company can effectively ‘stockpile’ franking credits if it doesn’t pay all of this taxed profit out at once.

And reporting from the Australian Financial Review (AFR) today reveals the company holding the most franking credits as a proportion of its market capitalisation on the S&P/ASX 200 Index (ASX: XJO).

That company is coal miner New Hope Corporation Limited (ASX: NHC). The AFR reports that New Hope currently “has the equivalent of 44 per cent of its market cap [currently $1.2 billion] in franking credits”. However, it also notes that New Hope has declined to pay a final dividend in 2020. Although it did pay an interim dividend of 6 cents per share back in May. It seems shareholders might have to wait a little while until they can enjoy the benefits of New Hope’s franking pool.

The AFR also notes that BHP Group Ltd (ASX: BHP) has the most franking credits available out of any company in the ASX 100, at 13% of market cap. What’s more, the AFR reckons that BHP is far better placed to return these credits to shareholders. That’s reportedly due to the strength of its balance sheet at the current time. Unlike New Hope, BHP has paid 2 dividends in 2020. It offers a trailing, grossed-up yield of 5.93% on current pricing.

More reading

• Woolworths (ASX:WOW) opens new Sydney store customers can’t go to
• ASX small caps could get a boost with the Aussie dollar hitting 28-month highs
• 5 things to watch on the ASX 200 on Tuesday
• ASX 200 rises on Monday
• Here’s why the Beach Energy (ASX:BPT) share price is up more than 50% over the past month

Motley Fool contributor Sebastian Bowen owns shares of Telstra Limited. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia owns shares of Woolworths 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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In late morning trade the S&P/ASX 200 Index (ASX: XJO) has recovered from its poor start and is edging ever so slightly higher. At the time of writing, the benchmark index is up slightly to 6,677.8 points.

Four shares that have failed to follow the market higher today are listed below. Here’s why they are dropping lower:

G8 Education Ltd (ASX: GEM)

The G8 Education share price is down 5% to $1.22 following the release of a trading update. Although the childcare centre operator has experienced an increase in its occupancy, it is still down year on year. In addition to this, while G8 Education has delivered wage efficiencies, the decline in its occupancy means that its wage hours per booking metric is currently higher than the prior corresponding period.

Metcash Limited (ASX: MTS)

The Metcash share price is down almost 3% to $3.45. This appears to have been driven by a broker note out of UBS this morning. Although the broker was pleased with its better than expected first half profit, it doesn’t see enough upside in its shares at this level to maintain its buy rating. It has downgraded Metcash to a neutral rating with a $3.75 price target.

Woodside Petroleum Limited (ASX: WPL)

The Woodside share price is down over 1% to $22.89. This morning the energy producer announced the surprise retirement of its Chief Executive Officer, Peter Coleman, after 10 years at the helm. Mr Coleman advised that he believes this is the right time to retire and transition leadership. Woodside has commenced an internal and external search for the company’s next CEO.

Zip Co Ltd (ASX: Z1P)

The Zip share price has fallen 3% to $5.27. This decline may have been triggered by a broker note out of Ord Minnett this morning. The broker continues to see solid growth ahead for the company, particularly given lockdowns in the United States, and has held firm with its accumulate rating. However, it has trimmed its price target by 3% to $6.50.

More reading

• G8 Education (ASX:GEM) share price on watch after trading update
• 5 things to watch on the ASX 200 on Tuesday
• ASX 200 rises on Monday
• Here’s why the Beach Energy (ASX:BPT) share price is up more than 50% over the past month
• ASX 200 up 0.7%: Metcash impresses, BHP & Fortescue storm higher, Xero given buy rating

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia has 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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