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.

Amazon.com Inc (NASDAQ: AMZN) has been one of the most influential companies of the last 20 years, and its dominance of industries ranging from e-commerce to cloud computing makes it unique even among FAANG stocks.

That singular “Day One” mentality Amazon management operates under was on display once again when the company reported third-quarter earnings last week. Its headline numbers of 37% revenue growth to $96.1 billion and a near doubling in operating income grabbed most of the attention. But two financial metrics hidden deeper in Amazon’s earnings show what makes the company so special and why it remains a growth juggernaut even as it’s now the second-biggest company by revenue in the U.S., and could soon be the biggest in the world.

Keep reading to see two stunning numbers from Amazon’s latest report.

1. It added 350,000 employees in just four months

Amazon has been ramping up hiring throughout the coronavirus pandemic, adding 175,000 employees early on, and in the third quarter it grew its workforce by a whopping 250,000. In the first month of the fourth quarter, it hired another 100,000 new employees as it hosted Prime Day in October and prepared for the holiday season, its busiest time of year.

Amazon hired across multiple divisions, adding jobs in its warehouses, logistics operations, Amazon Air, and other frontline divisions, as well as 17,000 white-collar corporate and tech jobs. To put the hiring blitz in perspective, that rate would equal more than 1 million new employees in a year were it to be sustained. The total of 350,000 employees is also more than all but a handful of American companies have in total employees in their operations. In other words, Amazon added an employee base roughly the size of Berkshire Hathaway Inc (NYSE: BRK.A) (NYSE: BRK.B) in just four months. Over the last four quarters, it’s grown its headcount by 50%.

That shows how big the company’s future ambitions are, and the surge in demand it’s experienced from the COVID-19 crisis.

2. 50,000 COVID-19 tests a day

Amazon announced in its first-quarter earnings report that it was embarking on an experiment to develop its own COVID-19 test, spending hundreds of millions of dollars so that it would have adequate capacity to test its own workforce. The company assembled a team including research scientists, procurement specialists, program managers, and software engineers. At the time, CEO Jeff Bezos said, “We are not sure how far we will get in the relevant timeframe, but we think it’s worth trying, and we stand ready to share anything we learn.”

Today, Amazon is on track to administer 50,000 COVID-19 tests daily to employees across 650 sites by November. The U.S. right now is doing about 1.2 million daily tests, meaning Amazon is responsible for about 4% of all COVID-19 tests done in the U.S., though it’s unclear if some of its tests are being deployed to other countries.

Amazon is not a medical laboratory or even a healthcare company. For the company to pivot and ramp up to 50,000 tests a day in a little more than six months after conceiving of the idea is a testament to its ability to come up with quick solutions and its culture of a “bias toward action,” in the words of Bezos.

It’s still Day One

Bezos has made Day One something of a mantra at his company, instilling it in the culture. Day One means that Amazon still thinks and acts like a start-up even though it is now one of the biggest companies in the world. That approach is clear in more ways than the two points above. For example, Amazon is taking steps into healthcare with its launch of Amazon Care, its partnership with Crossover Health, and its acquisition of Pillpack. The company is pioneering tools that eliminate the need for a cashier with its Amazon Go stores and the “Just Walk Out” technology, and it’s pushing the envelope with a new grocery-store brand, improvements in its Alexa voice-activated technology, and many more innovations.

Though its soaring e-commerce growth may be getting all the attention during COVID-19, investors shouldn’t ignore its ability to add 350,000 employees in four months, or the swift ramp-up in COVID-19 testing. Those are qualities that make Amazon special, and they are why the company has been one of the best investments of the last generation.

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

More reading

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• Tesla (NASDAQ:TSLA), Fastly (NYSE:FSLY) among most popular US shares last week
• Amazon to hire 100,000 seasonal workers as demand is expected to soar
• A look into Mike Cannon-Brookes’ share portfolio
• 3 FAANG stocks to buy right now

Jeremy Bowman owns shares of Amazon. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon and Berkshire Hathaway (B shares) and recommends the following options: long January 2021 $200 calls on Berkshire Hathaway (B shares), short January 2021 $200 puts on Berkshire Hathaway (B shares), short January 2022 $1940 calls on Amazon, long January 2022 $1920 calls on Amazon, and short December 2020 $210 calls on Berkshire Hathaway (B shares). The Motley Fool Australia has recommended Amazon and Berkshire Hathaway (B shares). We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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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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Wilson Asset Management (WAM) is a leading fund manager in Australia with various funds like WAM Capital Limited (ASX: WAM), WAM Leaders Ltd (ASX: WLE) and WAM Research Limited (ASX: WAX). It made the case for some top ASX shares.

The WAM team try to identify undervalued growth businesses. These are some of ASX shares that WAM owned in own of its funds at the end of September 2020:

Transurban Group (ASX: TCL)

WAM describes Transurban as the world’s largest operator of toll road networks with operations in Australia, Canada and the US. According to the ASX, it has a market capitalisation of $37 billion. Transurban is a position in the WAM Leaders portfolio.

WAM says that the ASX share is the beneficiary of record low interest rates, improvement in economic activity as coronavirus restrictions ease and the growing preference for private transport over public transport. The fund manager pointed out that the recent federal budget included increased infrastructure investment.

Sealink Travel Group Ltd (ASX: SLK)

Sealink is Australia’s largest tourism and public transport provider across ferry, bus and light rail networks with established operations in London and Singapore, according to WAM Research. The company is a position in the WAM Research portfolio.

The fund manager explained that the company completed the acquisition of bus operator Transit Systems Group earlier this year and in September it was announced that it was awarded, in Singapore dollars, a $1 billion contract to operate public bus services in Singapore following a competitive tender process.

WAM Research stated that the ASX share has benefited from state borders reopening during the month, and the fund manager sees the potential for earnings upgrades and further acquisitions as catalysts for the company in the future.

At the current Sealink share price, it’s valued at 16x FY23’s estimated earnings, according to CommSec.

Healius Ltd (ASX: HLS)

WAM Capital described Healius as the second largest pathology and third largest radiology provider in Australia. Healius is a position in the WAM Capital portfolio.

The fund manager pointed to the recent news that the Australian Government announced an extension of COVID-19 testing reimbursement and Medicare-subsidised telehealth and pathology services through to March 2021.

WAM Capital expects the extension to support the ASX share’s earnings, particularly as it operates drive-though testing for COVID-19. It also sees cost reduction opportunities and efficiency savings to improve margins over the long term and WAM also sees the potential for acquisitions which can add to earnings after the recent divestment of its medical centres division.

At the current Healius share price, it’s valued at under 22x FY22’s estimated earnings according to Commsec estimates.

Qantas Airways Limited (ASX: QAN)

Qantas is another business that has been negatively impacted by COVID-19 with a severe drop-off of flights and passengers. The Qantas share price is still down by 36% from where it was on 17 January 2020.

The ASX share is a position in the WAM Leaders portfolio. WAM Leaders explained that Qantas shares went up in September as total Australian coronavirus cases declined, the scheduled reopening of interstate borders and a trans-Tasman travel bubble forming.

WAM Leaders said that Qantas has restructured effectively and negotiated with trade unions to drive costs down over the past six months, mitigating the drop in total revenue in the June 2020 quarter. The fund manager believes the company will be able to deliver domestic profits at much lower capacity levels and an increase in domestic tourism will offset weakness in corporate and international travel on the path to gradual normalisation.

More reading

• Travel shares are flying higher today. Here’s why.
• 3 100% franked ASX dividend shares going ex-dividend in November
• Takeovers will continue to rock ASX shares
• ASX 200 Weekly Wrap: ASX 200 has another shocker as US election approaches
• 2 ASX dividend shares with yields over 9%

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Transurban Group. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Pushpay Holdings Ltd (ASX: PPH) share price could be a growth opportunity with high performing fund manager Eley Griffiths investing in the business earlier this year.

An overview Pushpay’s operations

Pushpay says that it provides a donor management system, including doner tools, finance tools and a custom community app and a church management system. Its key target market is the large and medium US church sector.

Not too long ago, Pushpay acquired Church Community Builder which provides software as a service (SaaS) church management system, also in the US. Its platform can be used by churches to connect and communicate with their community members, record member service history, track online giving and perform a range of administrative functions.

Pushpay says that the combined offering of Pushpay and Church Community Builder delivers a “best in class, fully integrated church management system, custom community app and giving solution for customers in the US faith sector. The combined offering from Pushpay and Church Community Builder is called ChurchStaq.

In its FY21 half-year result, the company said that sales of its combined offering outperformed internal expectations which reinforces management’s hypothesis that the majority of customers prefer an integrated end to end solution.

The Pushpay share price has gone up by 189% since the COVID-19 crash low of 16 March 2020. However, it has fallen 14% since 28 October 2020.

Eley Griffiths’ thesis

Fund manager Eley Griffiths took up a position in Pushpay a few months ago.

Manager Ben Griffiths pointed out that the religious donation market is estimated to be around US$100 billion in the US, with Pushpay’s current addressable market being around US$50 billion. In FY20 it had a market share of around 10%.

Mr Griffiths stated that over the last 12 months it has become clear that Pushpay is at an inflection point for both cashflow and earnings. It has transitioned into the phase of growth where it’s optimising and monetising the business. He thinks the accounts are very conservative in how it reports, which is rare for a small cap.

His bottom line is that the next few years for Pushpay will be rewarding and that COVID-19 will accelerate the ongoing trend of donations changing from cash to digital giving.

FY21 half-year result

Yesterday the Pushpay share price dropped 12.7% after the ASX share announced its FY21 half-year result.

It reported large growth across a range of statistics.

Operating revenue increased by 53% to US$85.6 million. Pushpay said it expects to see continued revenue growth as the business executes on its strategy, achieves increased efficiencies and gains further market share in the US faith sector. The ASX share’s total processing volume went up by 48% to US$3.2 billion. 

Pushpay’s gross profit margin improved by three percentage points, up from 65% to 68%. It expects its gross margin to stabilise at around the current level over the rest of FY21.

It boasted of expanding operating margin in relation to its expenses. Compared to operating revenue growth of 53%, the total operating expenses only went up 16%. As a percentage of operating revenue, total operating expenses improved by 12 percentage points, from 50% to 38%. Management expect “significant” operating leverage to accrue as operating revenue continues to increase, while growth in total operating expenses remains low.

Its earnings before interest, tax, depreciation, amortisation and foreign currency (EBITDAF) jumped by 177% to US$26.7 million. The company increased its EBITDAF guidance again to a range of US$54 million to US$58 million.

Pushpay’s net profit more than doubled to US$13.4 million and operating cashflow went up 203% to US$27 million.

Current valuation

Using data from Commsec, Pushpay is expected to generate earnings per share (EPS) of 26 cents in FY23. That translates to 29x FY23’s estimated earnings at the current Pushpay share price of $7.63.

More reading

• ASX 200 ends mixed on Wednesday
• Pushpay (ASX:PPH) share price on watch after dazzling first half profit growth
• Why these 5 fintech ASX shares are surging
• 2 must-buy ASX growth shares to buy in November
• I plan to invest heavily in ASX shares next week

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of PUSHPAY FPO NZX. The Motley Fool Australia has recommended PUSHPAY FPO NZX. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Iress Ltd (ASX: IRE) share price will be one to watch on Thursday following the release of its third quarter update.

How did Iress perform in the third quarter?

The financial technology company had a positive three months and delivered a 3% increase in revenue compared to the prior corresponding period.

In addition to this, Iress reported a 2% lift in segment profit for the quarter. This means its pro forma segment profit is now up 6% for the first nine months of FY 2020 in constant currency terms.

Management advised that it has achieved 8% revenue growth in the Asia Pacific (APAC) region in the first nine months of the year. This is being driven by ongoing demand for Xplan and Super solutions. This has offset COVID-19 impacting timing of projects in UK.

Outlook.

For the fourth quarter, the company is expecting to achieve another increase in revenue and segment profit and notes that new project work is underway.

It advised that the OneVue acquisition is due to complete on 6 November and expects a seamless integration of advice and execution with significant efficiencies.

In light of this, the company has reinstated its profit guidance for FY 2020. On a constant 2019 currency basis, segment profit, excluding the impact of the OneVue acquisition, is expected to be around the same level as FY 2019’s segment profit result of $152 million.

Iress chief executive, Andrew Walsh, said: “Iress has delivered a consistent performance in Q3. The strength of our recurring revenue model has been clearly demonstrated during 2020. I am proud of the way the team has continued to perform, while mostly working from home. Although there are high levels of uncertainty around Covid-19 transmissions and government restrictions, we are continuing to prioritise the health and wellbeing of our people and delivering service continuity and major projects for clients.”

“We have delivered over 500 client conversions to Xplan this year and two mortgage clients went live in August. The projects to deploy our super administration technology and service are progressing well. QuantHouse is also performing well and has achieved profitability. Covid-19 is impacting the timing of projects and business activity, postponing the revenue growth we envisaged at the beginning of the year,” he added.

More reading

• 5 things to watch on the ASX 200 on Thursday
• 3 growing small cap ASX shares
• Has your online ASX trading account been hacked?
• Government declares 2021 as ‘Year of 5G’
• Why the Element 25 share price climbed 13% today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended IRESS Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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On Wednesday the S&P/ASX 200 Index (ASX: XJO) had a mixed day as investors kept one eye on the U.S. election. The benchmark index ended the day slightly lower at 6,062.1 points.

Will the market be able bounce back from this on Thursday? Here are five things to watch:

ASX 200 expected to rise.

The Australian share market looks set to push higher after investors responded positively to the U.S. election vote counting. Although the actual winner still remains unclear, the Republicans appear likely to win the Senate. According to the latest SPI futures, the ASX 200 is poised to open the day 55 points or 0.9% higher. At the time of writing, the Dow Jones is up 2.7%, the S&P 500 has risen 3.3%, and the Nasdaq has jumped a sizeable 4.4%.

NAB full year results.

The National Australia Bank Ltd (ASX: NAB) price will be on watch when it releases its full year results this morning. According to a note out of Goldman Sachs, it expects the banking giant to report cash earnings before one-offs of $3,988 million. This will be a 31.9% decline on the prior corresponding period. A fully franked final dividend of 30 cents per share is expected to be declared, bringing its full year dividend to 60 cents.

Oil prices storm higher.

Energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could be on the rise today after oil prices stormed higher overnight. According to Bloomberg, the WTI crude oil price is up 3.5% to US$39.01 a barrel and the Brent crude oil price has risen 3.7% to US$41.20 a barrel.

Gold price weakens.

Gold miners Newcrest Mining Limited (ASX: NCM) and Saracen Mineral Holdings Limited (ASX: SAR) may drop lower today after improving investor sentiment weighed on the gold price. According to CNBC, the spot gold price has dropped 0.8% to US$1,895 an ounce.

Annual general meetings

Another group of companies will be holding their virtual annual general meetings today. This includes supermarket operator Coles Group Ltd (ASX: COL), travel agent Flight Centre Travel Group Ltd (ASX: FLT), private health insurer NIB Holdings Limited (ASX: NHF), and wine company Treasury Wine Estates Ltd (ASX: TWE). These companies are likely to provide trading updates at their events.

More reading

• Travel shares are flying higher today. Here’s why.
• 5 things to watch on the ASX 200 on Wednesday
• 2 ASX dividend shares with better yields than term deposits
• Zip and Credit Clear were among the most traded shares on the ASX last week
• ASX 200 finished 2% higher on Tuesday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates Limited. The Motley Fool Australia owns shares of COLESGROUP DEF SET. The Motley Fool Australia has recommended Flight Centre Travel Group Limited and NIB Holdings Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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All companies start somewhere and don’t become blue chips overnight.

Three ASX shares that are at the start of their journeys are listed below. Here’s what has investors watching them closely:

Carbon Revolution Ltd (ASX: CBR)

Carbon Revolution is a $350 million advanced manufacturing company that designs, manufactures, and markets single piece carbon fibre wheels for motor vehicles. This style of manufacturing wheels means the company is able to reduce the weight of them materially. Management estimates that these weight savings can result in up to 40% reductions in inertia. This is a big deal for car companies, which are always looking for ways to make their vehicles more efficient. Carbon Revolution counts the likes of Ford and Ferrari as customers. Last month Carbon Revolution reported quarterly revenue of $11.8 million, up 45.9% on the previous quarter and 26.3% on the previous corresponding period.

Mach7 Technologies Ltd (ASX: M7T)

Mach7 is a $223 million developer of enterprise imaging and informatics solutions for image viewing, storage, and workflow management. These solutions are able to be implemented individually, or as a comprehensive end-to-end image management and diagnostic viewing platform. The company has designed them to assist healthcare organisations with removing technology limitations to ensure patient information flows easily and can be accessed instantly. This helps to inform diagnosis, reduce care delivery delays and costs, and improve patient outcomes. In FY 2020 Mach7 reported a 102% increase in revenue to $18.9 million. This is still only scratching at the surface of its market opportunity. At the last count, management was estimating that the company’s total addressable market is worth US$2.75 billion per year.

Whispir (ASX: WSP)

Whispir is a $367 million software-as-a-service communications workflow platform provider. Its popular platform automates communications between organisations and people. This enables users to improve their communications through automated workflows to ensure stakeholders receive accurate, timely, useful, and actionable insights. Whispir was a very strong performer in FY 2020. For the 12 months ended 30 June 2020, it posted a 25.5% increase in revenue to $39.1 million and ARR growth of 34% to $42.2 million. Management estimates that the Workflow Communications platform as a Service market could reach US$8 billion per year by 2024.

More reading

• Why Bendigo and Adelaide Bank, Mach7, National Storage, & Unibail-Rodamco-Westfield are dropping lower
• 5 ASX tech shares that could be the next WAAAX stocks
• Is Temple & Webster Group Ltd (ASX:TPW) still a buy?
• Why the Carbon Revolution (ASX:CBR) share price soared 14% higher today
• Whispir (ASX:WSP) share price tumbles 9% on robust Q1 performance

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends MACH7 FPO and Whispir Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Carbon Revolution Limited. The Motley Fool Australia has recommended Carbon Revolution Limited, MACH7 FPO, and Whispir Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The rise and rise of online trading has largely been a blessing.

It has simplified and streamlined the process of buying and selling shares, both on the ASX and international share markets. It’s greatly reduced brokerage fees on every trade you make. And it’s opened the door to new investors who likely would have remained on the sidelines if they had to go through traditional brokers.

One of the biggest disruptors in the online trading space is Robinhood, owned by United States based Robinhood Markets, Inc.

If you’re unfamiliar with Robinhood, it’s a mobile app that allows you to invest in shares and options. (And cryptocurrencies, if you’ve got the cast iron stomach for that.) It’s best known for leading the way in the ‘zero brokerage’ fee space.

Founded 7 years ago by Baiju Bhatt and Vlad Tenev, the app took off in popularity in the US this year as lockdowns on social distancing saw many people stuck at home and hoping to earn some extra money.

Its millions of new users are primarily younger and often new to the world of investing.

But what they, and the users of other online accounts, almost certainly hadn’t counted on was the risk of their trading accounts being hacked.

Hackers selling trading account details on the dark web

According to a Bloomberg review of dark web marketplaces, more than 10,000 email login credentials linked to Robinhood accounts were up for sale on the dark web this week. This could enable would-be buyers to access customer accounts at Robinhood Markets.

Robinhood’s internal investigation revealed almost 2,000 accounts were compromised.

Bloomberg notes that:

The firm said there are no signs its systems were breached and it employs several security measures, while encouraging customers to enable two-factor authentication. Robinhood has also promised to fully compensate customers if the company determines they lost money because of unauthorised activity.

It’s not just Robinhood users being targeted, though Eli Dominitz, chief executive officer of Q6 Cyber, says the number of hacked emails involving Robinhood are 5 times more than those tied to other brokerages.

He explained: “If they feel that Robinhood gives them greater upside than trying to steal money from Bank of America, that’s what they’re going to do.”

There has been no indication yet that accounts of online trading platform Superhero, oft dubbed the ‘Australian Robinhood’ have been hacked.

The brainchild of Afterpay Ltd (ASX: APT) co-founder Nick Molnar and Zip Co Ltd (ASX: Z1P) co-founder Larry Diamond, the new Superhero app provides low cost brokerage options on a mobile platform.

Regardless of which trading platform you use, though, if you’re doing it online, it pays to be diligent. And certainly take the operators’ advice on two-factor authentication.

More reading

• PayPal’s buy now, pay later service is surging
• Afterpay (ASX:APT) share price still higher than these big broker targets
• Zip and Credit Clear were among the most traded shares on the ASX last week
• Laybuy (ASX:LBY) launches tap to pay digital card
• Why these 5 fintech ASX shares are surging

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 ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Federal Government announced on Wednesday not 1 – but 2 – 5G spectrum auctions for next year.

Communications Minister Paul Fletcher revealed that high-band 5G spectrum (26GHz) would be sold off in April, while low-band (850-900MHz) would be auctioned sometime in the second half of 2021.

Mid-band spectrum was sold in late 2018.

“We are making the low, mid and high bands available so that the telcos can provide better, faster and stronger 5G in Australia,” said Fletcher.

“Low band spectrum can carry the 5G mobile signal longer distances, and is best for wide coverage indoors and outside. The mid band spectrum provides broad coverage and fast speeds and the high band spectrum will allow blazing fast speeds over shorter distances.”

The government thus declared 2021 as the ‘Year of 5G’. 

It forecasts 5G technology will add up to $2,000 in gross domestic product for each Australian after the first decade.

5G’s current state of play in Australia 

Telstra Corporation Ltd (ASX: TLS) and rival Optus – owned by Singapore Telecommunications Limited (SGX: Z74) – already operate 5G mobile networks in limited areas.

Third player TPG Telecom Ltd (ASX: TPG) has thousands of locations in the planning phase. It plans to cover Australia’s 6 largest cities by the end of next year.

Telstra shares were down 1.09% on Wednesday, to sit at $2.73 at close of trade. TPG was down 0.99% at $7.00.

Fletcher said 5G was important not just for faster mobile and broadband speeds but it would enable use cases like “smart farming, robotics, telemedicine and automated vehicles”.

“The sooner 5G is deployed, the sooner Australia can secure these benefits,” he said.

For a given area, 5G can connect 10 times the numbers of devices as a 4G network. This is why it can better accommodate “internet of things” devices such as agricultural sensors and remote controls for vehicles.

More reading

• Why the Novatti (ASX:NOV) share price jumped 10% on open today
• ASX 200 Weekly Wrap: ASX 200 has another shocker as US election approaches
• 3 ASX blue chip shares to buy for dividends
• Top ASX shares to buy in November 2020
• Reserve Bank tipped to cut rates to record lows next week

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Element 25 Ltd (ASX: E25) share price made some big moves today, climbing 13.25% to 94 cents before falling back to close at 88.5 cents. This came after the company released an investor update to shareholders at the AGM this morning.

What did Element 25 announce?

The company reported that its Butcherbird manganese project in Western Australia was on track for commissioning in the first quarter of calendar year 2021.

Key features of the Butcherbird asset include:

• More than 260 million tonnes of manganese or measured, indicated and inferred
• Maiden proved and probable reserves of 50.6 million tonnes at 10.3% manganese for 5.22 tonnes of contained manganese
•  Pre feasibility studies based on measured and indicated resources suggest the asset could operate for 42 years
• The location is adjacent to bitumen roads and access to Port Hedland bulk handling facilities
• Described by the company as offering “low cost mining” with “simple processing”

The company advised a mining lease has already been granted with all access agreements finalised. Permit applications were well advanced and the company has secured project financing. 

Element 25 said it aimed to become a globally significant manganese producer, with a goal to generate strong, sustainable investor returns over the long term.

Also of note was a special resolution put forward at the AGM for a 10% placement facility. This would allow the company to conduct placements for up to 10% of its shares in the 12 months following the AGM in addition to the 15% already allowed. The resolution passed with the 75% majority necessary. 

About the Element 25 share price

Element 25 is minerals exploration and development company with assets in Western Australia.  

In the quarter to 30 September 2020, Element 25 spent $2.80 million on operations, mainly on exploration and development. At 30 September 2020, Element 25 had cash of $7.65 million in addition to listed equity investments worth $4.16 million.

The Element 25 share price is up 831.58% since its 52-week low of 9.5 cents, and up 420.59% since the beginning of the year. The Element 25 share price is up 345% since the start of last year.

More reading

• Raiz (ASX:RZI) share price up on positive business update
• PayPal’s buy now, pay later service is surging
• Why these 4 ASX tech shares surged today
• ASX 200 ends mixed on Wednesday
• Why the Downer EDI (ASX:DOW) share price has dropped today

Motley Fool contributor Chris Chitty has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The RAIZ Invest Ltd (ASX: RZI) share price finished the day up 4.76% to 77 cents a share. The gains came after the company released a positive business update, which was headlined by funds under management (FUM) growth of 5% from last month to $500.06 million. 

Raiz is a fintech company that operates in Australia, Indonesia and Malaysia. The Raiz platform allows Australian customers to micro-invest the remaining round up of everyday purchases in exchange traded funds. 

What moved the Raiz share price today?

According to the update, in Australia, Raiz’s FUM grew by 27.9% versus the previous corresponding period (pcp). In addition, both retail and superannuation saw gains of 5.4% and 2.6%, respectively.

Given Victoria only emerged from its lockdown late in the month and there was a global stock market sell off in the last part of the month, the company believes this bodes well for the remainder of Fy21.

It goes on to detail that Raiz saw an increase in active customers of 3.7% month on month, and a 43.8% increase against pcp. 

Ongoing growth

In an email to shareholders released as an announcement today, CEO George Lucas commented on the impact this recession is having particularly on young Australians, who make up most of the company’s core customer base.

Mr Lucas went on to say:

Raiz remains on an upward trajectory, and the growth in Active customers and FUM positions us to deliver a solid result. This is also validated by many of our institutional shareholders, such as the Thorney Investment Group, that have also noticed our achievements and increased their holding in Raiz Invest over the past few months.

He also highlighted the company’s growth in Southeast Asia, an area where the product only commenced in FY20:

In Southeast Asia, trends continue to be pleasing. In Indonesia, the three-month gain for Active Customers is 84%, while in Malaysia it’s 311.6%. The monthly gains in October, 10.9% in Indonesia and 22.5% in Malaysia, illustrate growth is being maintained despite business conditions remaining difficult because of COVID restrictions and lockdowns.

The path to this update was detailed in the company’s FY20 performance, which outlined how Raiz, against strong headwinds of the pandemic and economic recession, was able to achieve significant growth. For example, FY20 revenue per customer in Australia increased by 71.4%. FUM increased by 30.6% to $453.6 million, meaning it has taken only 3 months to grow an additional $50 million.

Also of note is the company’s change in leadership management. George Lucas is moving to a group managing director role. Meanwhile, Brendan Malone, who is group COO, will also become CEO of the Australian business.

The Raiz share price has grown by 24.19% over the past 6 months.

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Motley Fool contributor Daryl Mather has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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