The Nearmap Ltd (ASX: NEA) share price has climbed 3.5% this morning, currently trading at $2.07.

This follows a broker upgrade on the aerial imagery provider from RBC Capital Markets.

What did the broker say?

As noted by the Australian Financial Review, RBC Capital Markets has upgraded its view on Nearmap shares from ‘sector perform’ to ‘outperform’.

According to the broker:

We believe Nearmap is on track to print improved customer churn numbers at its February 2021 result… Improved churn demonstrates the product suite resonates with customers and has been resilient in a COVID environment.

RBC Capital highlighted that with a $100 million in net cash, Nearmap’s cash position is strong. And the broker forecasts that customer churn will fall from 9.9% as at the end of June 2020 down to a 7–8% range.

The broker is also unconcerned over the impact of a rising Aussie dollar, which has gained 10% against the greenback in the last 6 months:

The US is approaching around 40 per cent of annualised contract value (ACV), which is a headwind at the ACV line but assists at an earnings perspective as the US is loss-making while the ANZ business is profitable.

Nearmap share price and company snapshot

Nearmap provides high resolution aerial imagery technology and location data for companies and government customers across Australia, the United States, Canada and New Zealand. Its technology allows customers to conduct detailed virtual site visits instead of having to fly to and over the locations in person. Nearmap listed on the ASX in 2000.

At the company’s annual general meeting in November, Nearmap forecast ACV growth for the 2021 financial year in the range of 20–40%. At the time, Nearmap’s CEO Rob Newman said:

People still need to insure homes, local governments still have to provide services and people’s roofs still need to be fixed… The capital raise in September is setting us up to accelerate growth and we see fiscal 21 as the way to build the foundation to scale rapidly.

We’re seeing this year as a foundational year to return to 20 per cent to 40 per cent year-on-year growth.

2021 hasn’t been off to a great start for Nearmap shareholders, with the share price down 11.9% year-to-date at the closing bell yesterday. That compares to a 0.1% gain for the broader All Ordinaries Index (ASX: XAO).

With this morning’s gains tallied in, the Nearmap share price is down 9.3% since 4 January.

More reading

• These were the worst performers on the ASX 200 last week
• ASX 200 down 0.85%: ANZ CFO resigns, tech shares tumble, iron ore jumps
• 2 ASX tech shares to buy for 2021
• 3 exciting ASX tech shares to buy in 2021
• 5 things to watch on the ASX 200 on Tuesday

Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Nearmap Ltd. The Motley Fool Australia has recommended Nearmap 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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After languishing at around 4 cents a share for the first half of last year, the Pointerra Ltd (ASX: 3DP) share price took off last July after the ASX technology company announced a significant investment from well-known Australian tech entrepreneur, Bevan Slattery.

Slattery is a kingmaker in Australian tech circles, having founded Nextdc Ltd (ASX: NXT), Megaport Ltd (ASX: MP1), and Superloop Ltd (ASX: SLC).

Slattery’s placement was for 50 million shares at 5 cents each, raising $2.5 million for the company. Since then, the Pointerra share price has exploded, skyrocketing 900% to 50 cents. It briefly touched on a 52-week high of 67 cents.

What does Pointerra do?

Pointerra’s technology helps clients manage, visualise, and analyse extremely large and complex 3-dimensional geospatial datasets.

This sounds like complicated jargon but is actually pretty simple. Mining, infrastructure, and many other companies need to analyse sites in significant detail before commencing construction or excavation operations. Previously, analysing extremely large 3D datasets would require a significant amount of computing power.

However, Pointerra’s data-as-a-service (Daas) business model allows companies to outsource these complex data operations. Clients can transfer (either online or via a physical hard drive) their geospatial data to Pointerra, and Pointerra will host their data for them. The data is then stored on the cloud and is accessible via a web browser from just about any device, anywhere in the world.

The amount of money Pointerra charges its clients depends on the amount of data hosted for each client. It also depends on the service performed. As well as simply hosting the data on the cloud, Pointerra can process data and perform analytics. It also operates a 3D data marketplace, connecting buyers and sellers of 3D data and charges commissions on these transactions.

Why did Slattery invest?

In the company announcement released to the market back in July 2020, Slattery stated that he viewed Pointerra as having the “potential to be a world leader in (3D geospatial analysis) and ultimately to help feed the geospatial systems behind industries including telecommunications, renewable energy, and autonomous vehicles.”

Slattery’s comments not only show the faith he has in Pointerra as a company, but also the wide breadth of applications for geospatial analysis technology, particularly in developing industries like autonomous vehicles.

More recent news out of the company

In its most recent market update, released towards the end of November 2020, Pointerra reported that its annual contract value had increased to US$5.82 million, an uplift of 18% since the company’s previous business update on 15 October 2020. The growth had come courtesy of new and existing companies across a broad range of sectors in both Australia and the US.

At the time of writing, the Pointerra share price is sitting at 50 cents a share, giving the company a market capitalisation of $338.72 million.

More reading

• This is the latest speculative ASX tech buy from Citigroup
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Rhys Brock owns shares of Pointerra Limited, MEGAPORT FPO and NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends MEGAPORT FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Pointerra Limited and SUPERLOOP FPO. The Motley Fool Australia has recommended MEGAPORT FPO and Pointerra Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Avita Medical Inc (ASX: AVH) share price has climbed this morning, after the company reported a 57% increase in revenue in its preliminary fiscal second-quarter estimates.

At the time of writing, the Avita share price is up 2% to $4.95.

What did Avita announce?

In its second-quarter estimates for FY21 ending 31 December 2020, the company advised that total global revenues will be $5.1 million. This is the same as the previous quarter and 57% higher than the prior corresponding period in FY20.

The vast majority of the revenue came from the sales of its RECELL product in the United Sales, which accounted for $5 million during the quarter. That number is also the same as the previous quarter, but represents a $1.9 million or 62% increase over the same quarter of FY20.

The company’s balance sheet remains liquid, with cash in hand of approximately $59.8 million – a decrease of $6.0 million or 9% over the $65.8 million held at the end of the previous quarter.

On the commercial side, Avita signed up 7 new accounts in the second quarter, bringing its total client numbers to 93.

The company continues to make progress in its RECELL product, enrolling 9 additional patients to support its study in assessing the use of RECELL to treat stable vitiligo. Vitiligo is a skin condition that results in patches of skin losing pigment.

Quick recap of Avita’s RECELL flagship product

The company’s business revolves around the rollout of its RECELL technology product in the United States.

RECELL basically aims to replace the traditional skin graft procedure in patients with burns injury.

The device helps surgeons use a small sample of a patient’s own skin to produce a suspension of spray-on skin cells, which can then be applied to a patient’s burn site in as little as 30 minutes to regenerate a new outer layer of skin.

The procedure uses less than 5% of the size normally required in a graft, and has been clinically demonstrated to heal the burn site as effectively as a skin graft.

Avita is currently conducting clinical trials in its bid to expand the usage of RECELL to patients outside of the burn centres.

About the Avita share price

The Avita share price has lost about 63% over the last 12 months. The company is dual listed on the Nasdaq and commands a market cap of $330 million.

More reading

• 2 small cap ASX shares growing at a rapid rate
• Leading broker names the ASX healthcare shares to buy in 2021
• Why did the Avita (ASX:AVH) share price dive 60% in 2020?
• Why AVITA, IDP Education, Over the Wire, & Viva Energy shares are dropping lower
• These are the 10 most shorted shares on the ASX

Eddy Sunarto has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Avita Medical Limited. The Motley Fool Australia has recommended Avita Medical Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Plenti Group Ltd (ASX: PLT) share price is rising this morning after the fintech company announced another solid quarterly update, in which it reported record loan originations.

At the time of writing, the Plenti share price is up by 2.13% to $1.20.

What moved the Plenti share price today

The company has released an update on its third-quarter FY21 trading results for the period ending 31 December 2020.

It reported record loan originations of $130.9 million, which is 58% above prior corresponding period, and 22% above the prior quarter. Record monthly loan originations were achieved in six consecutive months, from July 2020 all the way to December 2020.

As in the previous half, growth was led by automotive lending, which is up by 273% on the prior corresponding period. Renewable energy and personal loan originations were also up by 19% and 8%, respectively, with both portfolios continuing to recover from the COVID-19 disruptions.

The increase in loans has brought Plenti’s total loan portfolio to $508 million, up by 46%. The $500 million milestone is the first for an Australian fintech consumer lender, according to the company.

On the funding side, Plenti upsized its secured automotive loan warehouse facility to $275 million from $150 million during the quarter. It also established a new $100 million warehouse funding facility to support growth in renewable energy, as well as personal loan originations.

The company advised that its credit performance is strong and leads the industry, with low levels of losses and 90+ day loan payment arrears declining to 0.32%.

Strong first half

Today’s solid quarter update follows a strong half, where Plenti delivered ahead of prospectus forecasts on all key financial metrics.

In the half ending 30 September 2020, the company reported a revenue of $26 million, representing growth of 41% on the prior corresponding period and 2% ahead of prospectus forecast.

It also achieved record loan originations of $167.0 million for the half, 33% above the first half of FY20 and 7% ahead of its prospectus forecast.

About the Plenti share price

Plenti first listed on the ASX on 23 September 2020 at an offer price of $1.66. On its ASX debut, the Plenti share price had a shocker, closing the day at $1.30, down 21% from its listing price.

At the current share price, the company is still down almost 30% from its initial public offer (IPO) price.

Plenti commands a market capitalisation of $198 million.

More reading

• Why the ARB (ASX:ARB) share price is charging 6% higher today
• Altium (ASX:ALU) share price slips following trading update
• Why the PolyNovo (ASX:PNV) share price is sinking 10% lower today
• Here’s why the Creso Pharma (ASX:CPH) share price is jumping 13% higher today
• The biggest ASX bulls are about to get their faith tested

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 ARB Corporation Limited (ASX: ARB) share price has been a strong performer on Tuesday.

In morning trade the 4×4 accessories company’s shares are up 6% to $33.57.

This leaves the ARB share price trading just a touch short of its all-time high.

Why is the ARB share price charging higher?

Investors have been buying the company’s shares this morning after it released an update on its expectations for the first half of FY 2021.

According to the release, ARB achieved unaudited sales revenue of $284 million for the first half. This represents a 21.6% increase on the prior corresponding period.

In respect to profits, based on preliminary and unaudited management accounts, the company expects to post a profit before tax within the range of $70 million to $72 million. This is inclusive of $9.8 million of non-recurring government benefits.

Even excluding the one-off COVID support, this would still be a massive increase on the prior corresponding period. In the first half of FY 2020, ARB recorded a profit before tax of $34.4 million on revenue of $234.1 million.

No explanation was given for the outperformance. However, a strong Australian dollar (versus the Thai baht) is likely to have helped with its manufacturing costs.

What about the full year?

No guidance has been provided for the remainder of the financial year. However, management notes that the short term looks positive.

It commented: “The Company maintains a positive short-term outlook based on a strong customer order book and another record sales month in December 2020.”

Though, it has warned investors not to get carried away with its impressive first half performance.

“The Company’s first half performance should not be used as an indicator for the second half of the financial year, for which no guidance can be provided, as it remains far too uncertain to predict in the current economic climate,” it warned.

Further details on how it is performing early in the second half are expected to be given with its half year results release on 16 February.

More reading

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

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The Altium Limited (ASX: ALU) share price has dropped in early trade today after the software company released a mixed trading update to the market.

At the time of writing, the Altium share price is trading down 3.% at $29.85.

What did Altium announce?

Altium advised it will meet its full-year guidance target, despite major disruptions caused by COVID-19.

For the first half of FY21 ending 31 December, Altium expects to deliver revenue of around US$89.6 million. This is a drop of 3% on the prior corresponding period.

The company revealed that its United States business recorded a 10% fall in revenue due to rising coronavirus cases. Severe COVID-19 lockdowns cross the Atlantic are also impacting revenue growth, with Altium’s European segment is also experiencing a drop in sales.

The company’s NEXUS solution suffered a 14% fall in growth as deals were pushed back for the second-half of the year. Altium is expecting a significant pipeline from this coming into the new period.

In China, revenue plummeted 15% as licence compliance activities become more difficult to achieve, especially in the lower-end of the market.

Negative news aside, Altium said other areas of the business have been performing well.

Board and Systems revenue improved in the second quarter to be in line with the previous 2020 half-year performance. This is after the company saw a 11% setback on first-quarter revenue compared to year-on-year.

Electronic manufacturing also strongly rebounded with its Octopart search engine attaining a 19% increase in revenue for the first half of FY21. The company said this was a leading indicator for future sales of PCB design.

In addition, term-based licences grew, up 166% over the first-half on the same period last year, resulting in a US$1 million revenue decline.

Altium will release its half-year results on 15 February, 2021. The company advised it was confident it would achieve a better second-half result, and reaffirmed its full-year guidance.

Words from the CEO

Commenting on the results, Altium CEO Aram Mirkazemi said:

Despite a challenging first half, we saw signs of recovery in Q2. This result was achieved despite extreme conditions in the US and the restructuring of our sales organisation.

I am confident that with our pivot to the cloud and our move to digital sales that the Q2 momentum will continue into the second half.

How has the Altium share price performed?

The Altium share price has been on a rollercoaster over the past 12 months. The company’s shares reached a 52-week high of $42.76 in February, before falling to a low of $23.11 in March.

Most recently, its shares have dipped lower this year off the back of the weakening tech sector in the United States.

More reading

• 3 fantastic ASX shares to buy today
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• What this broker thinks of the Altium (ASX:ALU) share price
• ASX 200 rose 1.6%
• 3 mid cap shares hitting 1-month lows on the ASX today

Aaron Teboneras 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 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 PolyNovo Ltd (ASX: PNV) share price is on the move on Tuesday following the release of a trading update.

In morning trade the medical device company’s shares are down a disappointing 10% to $3.04.

What did PolyNovo announce?

PolyNovo’s update revealed that the company delivered a 31% increase in sales over the prior corresponding period for the first half of FY 2021.

This was driven largely by a 75% increase in sales during the first quarter, which was offset slightly by slower than expected sales in October and November.

Pleasingly, this softness appears to have ended, with the company’s December sales growing strongly and coming in ahead of expectations in the US, New Zealand, and Taiwan markets.

In respect to the key US market, PolyNovo’s sales grew 41% during the first half. It is aiming to build on this in the second half with the help of recent appointments.

During the half, PolyNovo hired 12 experienced and dedicated Territory Managers and one sales director in the country. It also notes that it received more requests for proposal (RFP) in the last three months than in the previous nine months, signed two GPOs, and a number of large strategic hospitals.

Management commentary.

PolyNovo’s Chairman, David Williams, revealed that COVID-19 had impacted its performance during the first half.

He said: “While we have experienced a few bumps from COVID-19, we have built a significant base of new customers which holds us in a strong position. We will continue to expand our customer base which will enhance our success as the pandemic eases.”

The company’s Managing Director, Paul Brennan, acknowledges that the near term will be volatile, but remains very positive on the long term.

He commented: “In the short-term forecasting sales will be challenging particularly in the US, however the medium-term outlook is strong, and we continue to see surgeons using and referring NovoSorb BTM to their peers. Once hospitals have more capacity, we will see US and UK sales accelerate just as we have seen in New Zealand and Australia. New geographies offer good opportunities for NovoSorb BTM.”

More reading

• These were the worst performing ASX 200 shares last week
• 3 mid cap shares hitting 1-month lows on the ASX today
• Are these 4 ASX medical shares set for a healthy 2021?
• ASX 200 drops 1.1%
• Here’s why the PolyNovo (ASX:PNV) share price zoomed 97% higher in 2020

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 POLYNOVO 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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In morning trade the Creso Pharma Ltd (ASX: CPH) share price is storming higher following the release of an announcement.

At the time of writing, the cannabis company’s shares are up 13% to 26 cents.

What did Creso Pharma announce?

This morning the company announced that it has completed all required importing and exporting procedures and successfully delivered a second shipment of its cannaQIX products to Pharma Dynamics South Africa.

CannaQIX is Creso Pharma’s range of cannabidiol (CBD) hemp oil-based nutraceuticals. These products contain a broad spectrum of organic hemp oil extracts with CBD that aims to improve management of stress and to support mental and nervous functions.

This delivery follows the receipt of a second purchase order from Pharma Dynamics in October valued at CHF220,000 (~A$320,000).

Management notes that this money has now been banked and adds to Creso Pharma’s growing revenue profile.

What’s next?

The company advised that it is confident that additional opportunities will materialise in Africa in the coming months. It continues to work with Pharma Dynamics to establish a broader footprint in the region and anticipates purchase orders to grow in size and volume.

Management commented: “Creso is extremely pleased with the swift timing of the second PO and delivery, demonstrating a healthy relationship and positive patient response. Creso believes there will be more POs from this region in a sustainable way. This underpins Creso’s current global growth trajectory and its entry into new markets towards a recurring revenue model.”

Balance sheet update.

As of 31 December 2020, Creso Pharma had a cash balance of over $6 million. Since then, the company has received an additional $1.7 million following the exercise of options. Management believes this provides it with the cash required to fund its expansion into new markets.

Furthermore, it believes its balance sheet gives it the foundation to continue to win market share as well as to be in a position to easily capitalise any potential further international growth opportunities.

More reading

• Why ASX cannabis shares are cheering the US elections
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• Why the Creso Pharma (ASX:CPH) share price rocketed 47% higher
• Here are 3 ASX small cap shares with exciting product launches in 2021
• Why the Creso Pharma (ASX:CPH) share price is jumping 9% higher

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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Investors that have thrown everything at the ASX recovery trade and are sitting on a mountain of profit are now facing a big dilemma.

The agonising question they face is whether to take profit or brave the upcoming February reporting season.

To be sure, these investors are typically mum and dad investors as they have been aggressively buying the COVID-19 crash.

Retail investors the biggest winners

It’s the professional investors that that have been slower to act. That’s why its retail investors that are reaping the lion’s share of the close to 50% rebound in the S&P/ASX 200 Index (Index:^AXJO) since March.

Some of the best gains have come from the De Grey Mining Limited (ASX: DEG) share price, Brainchip Holdings Ltd (ASX: BRN) share price, Temple & Webster Group Ltd (ASX: TPW) share price and Afterpay Ltd (ASX: APT) share price.

You can give yourself a pat on the back if you have picked those horses amid the 2020 ASX market mayhem.

Is it time to take profit?

While I remain bullish on the ASX for 2021, now isn’t a bad time to take some profit off the table for a few reasons.

This particularly applies to those who are fully invested in the market, as I had been. I only had 65 cents in my cash trading account up till a month ago and it’s not usual for me to be 100% invested.

I typically like to hold around 5% in cash but I am aiming to collect a little more this time after the strong market run.

This is to ensure I can capitalise on any opportunities while still having significant exposure to risk assets.

What’s priced in to this ASX bull market?

What prompted me to start locking away some profit is my belief that the market is overlooking just about all risks.

I am not talking about a black swan event which can’t be priced or predicted. Even known risks are overlooked and I will outline three that particularly concern me.

3 risks to watch in 2021

The first is the rise in the 10-year US government bond yield, which jumped to the highest level since March 2020 at around 1.14%.

As I highlighted at the end of last year, investors should be looking closely at this global benchmark.

The second factor to watch is the Australian dollar. While the Aussie is backing away from its peak at just over US78 cents, currency experts believe it can climb higher still.

While some companies will benefit from this, a stronger Aussie is a net negative for ASX 200 stocks. I am expecting this issue to be more widely discussed during the upcoming reporting season.

Thirdly, return to COVID normal may take longer than what many are expecting. The current thinking is that mass vaccinations in developed countries will gather pace in the first half of the year. This will spell the beginning of the end of COVID in late 2021.

Foolish takeaway

While that’s my base expectation, there are signs that progress will be slower than expected. I don’t think the market is pricing in this or any of the other risks.

As the market saying goes, you can’t go broke by taking profit. It’s always good to have a bit in reserve, in my book, although this largely depends on your personal circumstances.

You should speak to your advisor before acting.

More reading

• 5 things to watch on the ASX 200 on Tuesday
• ASX 200 drops 0.9%
• Got money to invest? Here are 3 ASX shares to buy
• Brainchip (ASX:BRN) share price soars 52% in 5 days
• Why the QBE (ASX:QBE) share price is in focus today

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

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Temple & Webster Group Ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Temple & Webster Group 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 Impedimed Limited (ASX: IPD) share price will be closely watched by investors this morning. This comes after the medical technology company announced that it has concluded its long-running Prevent trial.

At the closing bell yesterday, the Impedimed share price finished the day flat at 13 cents.

What did Impedimed announce?

It will be interesting to see which way the Impedimed share price moves today following the latest news.

According to the release, Impedimed advised that all Prevent trial patients have completed their follow-up visits. All 10 participating sites are now closed and the data gathered from the trial is currently being compiled. The company highlighted that study investigators have commenced their work on a manuscript. The paper is due to be submitted for initial journal review before the end of next month.

The Prevent trial is an international study of 1,100 patients across the United States and Australia. In partnership with 10 medical centres, it is the largest randomised controlled study on patients at risk of lymphoedema. Recruits included breast cancer survivors who are at risk of developing secondary lymphoedema in their arms through their treatment. The trial was conducted over six and half years with patients followed up for three years.

Impedimed noted that the study aimed at understanding if detecting extracellular fluid build-up through a bioimpedance spectroscopy device would reduce the rate of lymphoedema progression, followed by early intervention. This was compared with using a measuring tape to identify extracellular fluid accumulation.

What did management say?

Impedimed managing director and CEO Mr Richard Carreon commented on finishing the trial:

We are pleased to reach this important milestone and expect the results to demonstrate improved outcomes when L-Dex is used to monitor patients at risk of lymphoedema. We believe the release of the results of the PREVENT trial, together with the recent meta-analysis results, will again further our case with both the NCCN and Private Payors.

How has the Impedimed share price performed?

The Impedimed share price reached a recent peak of 18.5 cents in November, before scuttling down to 13 cents.

The company’s shares spent most of 2020 hovering below the 10-cent mark, however they have since gained traction. On current prices, Impedimed has a market capitalisation of $163 million.

More reading

• Why the Pushpay (ASX:PPH) share price could shoot higher today
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• 5 things to watch on the ASX 200 on Tuesday

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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