DigitalX Ltd (ASX: DCC) shares are soaring today following the release of an update on the company’s digital asset funds management business alongside developments in the Bitcoin (CRYPTO: BTC) and digital asset market.

At the time of writing, the DigitalX share price is trading 17.57% higher at 8.7 cents. Let’s take a closer look.

What did DigitalX report?

The DigitalX share price is on a tear today after the company reported that it is continuing to increase its exposure to Bitcoin, the world’s largest cryptocurrency. The company is also expanding its exposure to the wider digital asset market via increasing funds under management and corporate treasury.

DigitalX reported record monthly inflows in February, which it attributes to the activation of new funds management marketing strategies in January. The company is exploring the potential to evolve its Bitcoin Fund structure for greater accessibility and liquidity for both current and future investors.

DigitalX also revealed its direct Bitcoin and digital asset exposure is up 70% since 31 December.

The company forecast that 30% of the world’s population could own Bitcoin by 2024 if the historical rate of Bitcoin adoption continues apace. It also pointed to Tesla Inc (NASDAQ: TSLA)’s decision to invest US$1.5 billion (AU$1.9 billion) into Bitcoin, and its willingness to accept Bitcoin as payment, as more evidence confidence in digital assets is growing.

DigitalX itself is no newcomer to Bitcoin. The company has held Bitcoin as part of its long-term corporate treasury position since 2017.

Australian institutions have been slower to adopt cryptocurrencies such as Bitcoin than their United States counterparts.

Homing in on the Aussie market, Leigh Travers, executive director of DigitalX, said:

As more Australian investors become aware of this market opportunity, I am confident we will see a seismic shift in the investor interest in Australia. A multi-hundred billion dollar pool of capital is safeguarded in the Australian SMSF sector, and DigitalX is well placed to offer the secure and trusted provider for Bitcoin and digital asset investment.

DigitalX share price snapshot

With today’s intraday gains, the DigitalX share price is up 190% over the past 12 months.

For comparison, the All Ordinaries Index (ASX: XAO) is down 1% over that same time. Based on the current share price, DigitalX has a market capitalisation of around $46 million.

More reading

• Why I’m never selling my Square shares
• These 3 ASX shares invested in Bitcoin before Tesla (NASDAQ:TSL)

Bernd Struben has no position in any of the stocks or cryptocurrencies mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Tesla. The Motley Fool Australia has no position in any of the stocks or cryptocurrencies 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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Things are just going from bad to worse at Crown Resorts Ltd (ASX: CWN) as the fallout over the New South Wales Independent Liquor and Gaming Authority (ILGA)’s inquiry into the gaming giant continues to spread.

Crown had a week to forget last week when the ILGA handed down its inquiry report, which found that Crown is “not suitable” to operate its new casino in Sydney’s Barangaroo precinct.

The commissioner of the inquiry, former Supreme Court justice Patricia Begin, said the following in the report:

Any applicant for a casino licence with the attributes of Crown’s stark realities of facilitating money laundering, exposing staff to the risk of detention in a foreign jurisdiction and pursuing commercial relationships with individuals with connections to Triads and organised crime groups would not be confident of a positive outcome… The Licensee is not suitable to continue to give effect to the Barangaroo Licence and that Crown is not suitable to be a close associate of the Licensee…

If Crown is to survive this turmoil and convert itself into a company that can be regarded as a suitable person and achieve the same for the Licensee, there is little doubt that it could achieve a fresh start and emerge a very much stronger and better organisation.

Crown shakes things up

It appears Crown has taken this damning report to heart. This morning, the company released an announcement to the ASX before market open in response. In this announcement, the company informed investors that its chief executive officer and managing director Ken Barton would be stepping down from his roles “with immediate effect”.

Fellow director Helen Coonan will be stepping up to the executive chair role. She will also lead the company as the board begins a search for Barton’s replacement.

Coonan stated the following on her new role, and what the future holds for Crown:

Assuming the role of Executive Chairman is a decision I have not taken lightly but the Board feels it provides leadership stability and certainty at this important time for the business. The Board is determined to maintain the momentum as Crown takes significant steps to improve our governance, compliance and culture.

The Crown share price has responded to this announcement with muted approval. Crown shares are up 0.51% at the time of writing to $9.94.

More reading

• ASX 200 falls, Melbourne lockdown bites, Baby Bunting drops
• ASX 200 down 0.3%: Crown CEO hasn’t resigned, Mirvac update, Nearmap remains halted
• 5 things to watch on the ASX 200 on Friday
• ASX 200 rises 0.5%, CBA reports, Crown deemed unsuitable for Sydney
• Why CIMIC, Crown, Domino’s, & Praemium shares are tumbling lower today

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Crown Resorts 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 Cooper Energy Ltd (ASX: COE) share price dipped around 4% this morning after the company released its FY21 half-year results.

Cooper Energy is an exploration and production company that generates revenue from gas supply to south-east Australia, and low-cost Cooper Basin oil production. The company has a portfolio 0f prospective acreage in Australia’s Cooper, Otway and Gippsland basins.

The Cooper Energy share price is currently trading at 30 cents a share. 

Why is the Cooper Energy share price sliding?

Cooper Energy recorded a statutory loss after tax of $23.1 million for the six months ended 31 December 2020. This compares to a $6.3 million profit after tax recorded in the first half of 2020.

The loss comes despite the company reporting record production and sales volumes for the period.

Cooper Energy advised that its FY21 half-year results were impacted by costs associated with the Orbost Gas Processing Plant (OGPP). 

Cooper’s cash and cash equivalents balance decreased by $16.3 million over the period, and total assets decreased by $15.7 million from approximately $1.03 billion to $1.01 billion.

On 31 December 2020, the company held cash and cash equivalents of $115.3 million and investments of $1.0 million.

Outlook

The company plans to continue developing and operating a portfolio of gas assets to supply the south-east Australia domestic gas market.

Cooper Energy expects to record substantial growth in production, revenue and cash flow during the six months to 30 June 2021. This is due to increased production activities.

For the full year ending 30 June 2021, the business is guiding toward a total capital expenditure of $45 to $50 million.

Commenting on future production activities, Cooper Energy managing director David Maxwell said:

Current daily gas production rates of circa 60 TJ/day from our Gippsland and Otway Basin permits represent a roughly 300% increase on average daily rates this time last year.

With production at Orbost stabilising, we have guided towards full year FY21 production of 2.7–2.9 MMboe (FY20: 1.56 MMboe) and sales volumes of 2.9–3.1 MMboe (FY20: 1.54 MMboe).

With our acreage located for cost competitive supply to south-east customers and strong gas market fundamentals, Cooper Energy is ideally positioned to continue growing production, revenue and cash flow.

The Cooper Energy share price has tumbled 44% over the previous 12-month period.

More reading

• DigitalX (ASX:DCC) share price soars 18% following Bitcoin update
• Crown (ASX:CWN) loses its CEO as fallout continues
• Why is the Lifestyle Communities (ASX:LIC) share price pushing higher?
• Why the Cimic share price (ASX:CIM) is edging higher today
• Why Advance NanoTek, Incitec Pivot, Starpharma, & Zoono are tumbling lower

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

The post Here’s why the Cooper Energy (ASX:COE) share price is slumping today appeared first on The Motley Fool Australia.

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Lifestyle Communities Limited (ASX: LIC) shares are on the rise today as the company released its half-year results and investor presentation. At the time of writing, the Lifestyle Communities share price is trading 3.86% higher at $14.26.

How did Lifestyle Communities perform?

The Lifestyle Communities share price is responding positively after the company reported making solid progress during the first half of FY21. This was despite the ongoing impacts of COVID-19 and Melbourne’s stage 4 lockdowns impacting operations for most of the period.

Nonetheless, Lifestyle Communities achieved a net profit after tax (NPAT) of $14.1 million for the first half of the year. This compared to the $15.1 million achieved in the same period last year. Lower new home settlements relative to last year was the primary driver for the variance. However, the impact was partially offset by an 8% increase in income from site rentals, which were up from $11.4 million to $12.3 million due to the increased number of homes under management.

Furthermore, construction has continued throughout the period. Six communities are currently under development to meet the anticipated increased demand post-pandemic.

On this front, the company stated it was pleased with the acquisition of its new site in Rockbank during the period. Rockbank sits in Melbourne’s fast-growing North West corridor and has helped to reaffirm the company’s goal of delivering 900 to 1,100 settlements over the next three years.

Management comments

Lifestyle Communities Managing Director Mr James Kelly welcomed the news saying:

Given the circumstances we faced during the period, I am pleased with these results. We adjusted our sales process to focus more on sharing information and building knowledge. As a result of this, customers are advanced on understanding the benefits of the Lifestyle model now that restrictions have eased and we are once again able to meet customers face to face. This, combined with an increase in completed and available homes sees us well placed to meet the demands of customers ready to move after restrictions eased.

About the Lifestyle Communities share price

The Lifestyle Communities share price is one of the very few real estate investment trusts (REITs) listed on the ASX that has performed strongly over the last year. In fact, during 2020, it was the strongest performer within the S&P/ASX 200 Real Estate Index (ASX: XRE).

So far this year, Lifestyle Communities shares are trading around 12% higher, easily outpacing the All Ordinaries Index (ASX: XAO)’s return of 2.7%.

On a final note, Lifestyle Communities shareholders will be entitled to an interim fully franked dividend of 3 cents per share. This is consistent with the payment for the same period last year.

More reading

• Why the Cimic share price (ASX:CIM) is edging higher today
• Why Advance NanoTek, Incitec Pivot, Starpharma, & Zoono are tumbling lower
• Why the BARD1 Life Sciences (ASX:BD1) share price is rocketing another 54% today
• The Atomos (ASX:AMS) share price is on fire today, up 12%
• ASX 200 up 0.8%: Nearmap jumps, Bendigo and Adelaide Bank impresses

Motley Fool contributor Daniel Ewing 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 Cimic Group Ltd (ASX: CIM) share price is edging higher today after the company announced that it would abandon its Middle East investment.

At the time of writing, the Cimic share price is inching 0.78% higher to $20.71.

The Cimic Group provides a range of services to the infrastructure, resources and property markets. These include construction, mining, mineral processing, engineering, concessions, and operation and maintenance services.

What did Cimic announce?

The Cimic share price is on the move today after reporting an update on its divestment from its Middle East operations.

In this morning’s release, Cimic advised that it has signed a share purchase agreement with SALD Investment LLC.

Under the deal, Cimic will sell its 45% non-controlling interest in Dubai-headquartered BIC Contracting (BICC) for a nominal consideration. SALD is also seeking to acquire the remaining 55% stake of BICC from Cimic’s co-shareholder.

The company stated that it would refocus its efforts on major markets including Australia, New Zealand, and the Asia Pacific. Pending customary conditions, the completed sale will eliminate all of Cimic’s interests in the Middle East.

SALD will own all of BICC’s businesses in the United Arab Emirates, Qatar, Oman, and Saudi Arabia.

Previously, Cimic agreed to contribute a “certain amount” of cash into BICC to meet its contractual obligations with SALD. The company noted that the $1.8 billion write-down was included into its 2019 result. Cimic further advised that any monetary impact related to the sale would not affect its financial statements going forward.

About the Cimic share price

Over the last 12 months, the Cimic share price was relatively stable prior to its results for the full-year ending 31 December 2020 released last week. Its shares plummeted more than 20% as investors ran for the hills. Since then, the company’s shares have settled for the moment.

Cimic commands a market capitalisation of $6.4 billion at today’s prices.

More reading

• ASX 200 Weekly Wrap: ASX cools on earnings reality check
• These were the worst performing ASX 200 shares last week
• The Cimic (ASX:CIM) share price is dipping today despite contract win
• Here’s why all eyes will be on the Cimic (ASX:CIM) share price today
• Why CIMIC, Crown, Domino’s, & Praemium shares are tumbling lower today

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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The S&P/ASX 200 Index (ASX: XJO) has started the week strongly and is racing higher. In afternoon trade, the benchmark index is up 0.9% to 6,868.2 points.

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

Advance NanoTek Ltd (ASX: ANO)

The Advance NanoTek share price is down 4% to $3.72. This is despite there being no news out of the advanced materials company. However, the company has been struggling recently due to a collapse in demand for its products from sunscreen manufacturers. As a result, it is expecting to report a $90,000 first half profit. This compares to $4.8 million in the prior corresponding period.

Incitec Pivot Ltd (ASX: IPL)

The Incitec Pivot share price is down 2.5% to $2.57. Investors have been selling the chemicals company’s shares following the release of a trading update. That update revealed that its Dyno Nobel Americas Explosives segment is experiencing unplanned downtime due to equipment failure. The total earnings impact of the outage is expected to be US$11 million and will be included in the first half results.

Starpharma Holdings Limited (ASX: SPL)

The Starpharma share price has fallen 3% to $2.29. This decline appears to have been driven by profit taking from some investors. Last week the dendrimer products developer’s shares hit a record high following a positive announcement. This meant that prior to today, the Starpharma share price was up 53% since the start of the year.

Zoono Group Ltd (ASX: ZNO)

The Zoono share price is down over 7% to 82 cents. This latest decline means the biotech company’s shares have now lost two-thirds of their value over the last six months. Investors have been selling Zoono shares after sales of its sanitiser products weakened considerably. Zoono recently reported second quarter cash receipts of $5.5 million. This was down from $15 million in the first quarter.

More reading

• ASX 200 up 0.8%: Nearmap jumps, Bendigo and Adelaide Bank impresses
• Incitec (ASX:IPL) share price falls on performance update
• Wilson Asset Management thinks these 2 ASX shares are a buy
• Why Novonix, Recce, Singular Health, & Starpharma shares are storming higher
• Here’s why the Starpharma (ASX:SPL) share price just stormed to a record high

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 Advance NanoTek Limited and Starpharma Holdings Limited. The Motley Fool Australia has recommended Starpharma Holdings 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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BARD1 Life Sciences Ltd (ASX: BD1) shares are rocketing higher again today following the company’s latest positive report on its breast cancer testing technology. At the time of writing, the BARD1 share price is up 53.89% to $2.57.

At one point during morning trade, BARD1 shares reached $2.72, representing a new 52-week high for the company. 

What’s causing the BARD1 share price to explode?

The BARD1 share price is going gangbusters this morning after the company reported additional data relating to its SubB2M technology from Griffith University shows 100% specificity and over 95% sensitivity for detection of all stages of breast cancer.

BARD1 stated it intends to develop and commercialise its blood tests to enable earlier detection of breast cancer, improving patients’ treatment decisions and health outcomes.

According to Griffith University’s Dr Lucy Shewell, the research also showed that SubB2M could potentially be used to monitor patients for disease recurrence. She stated:

SubB2M has the potential to be useful as a diagnostic marker for the detection of early-stage breast cancer, as well as a tool for monitoring disease progression in late-stage cancer.

And Griffith University’s Professor Mike Jennings added:

The SubB2M technology has proved to have remarkable sensitivity and specificity for detection of these aberrant sugar biomarkers in blood for both breast and ovarian cancers.

Commenting on the latest findings, BARD1 CSO Dr Peter French said:

Whilst this data is preliminary, these excellent results reported by the researchers at Griffith University support the commercial potential of SubB2M for both breast and ovarian cancer monitoring and detection.

Last Thursday 11 February, BARD1 reported on the success of this same technology in detecting ovarian cancer. That announcement also saw the BARD1 share price surge.

And SubB2M may have even broader applications in the fight against cancer.

BARD1 CEO Dr Leearne Hinch said:

Our SubB2M technology is a revolutionary platform with potential for the development of tests for monitoring and detection of multiple cancers.

Foolish takeaway

The BARD1 share price has been on a tear over the past week. Including today’s intraday gains, shares are up more than 300% since last Tuesday’s opening bell. Year to date, the BARD1 share price is up by a similar percentage. For comparison, the All Ordinaries Index (ASX: XAO) is up 3% so far in 2021.

More reading

• Why is the BARD1 Life Sciences (ASX:BD1) share price rocketing 78%?

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

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The Atomos Ltd (ASX: AMS) share price is blazing up this morning after the video camera equipment maker released its results for the first half of FY21.

Let’s look at some key information from the results this morning that spearheaded the price movement.

Why is the Atomos share price pushing up?

In the first half results released to the market this morning, Atomos reported its strongest half for sales in its history, notching up $32.8 million worth during the period. Atomos also posted its most profitable half on record, with earnings before interest, tax, depreciation and amortisation (EBITDA) up 210% to $3.0 million.

In its first-half FY21 investor presentation, the company pointed out the strong growth in activations of the Apple Inc (NASDAQ: AAPL) video format, ProRes RAW, that only Atomos is licensed to natively record. Activations reportedly grew fivefold in 12 months.

The cash flow positive half also added $4.5 million to the company, putting cash levels on the balance sheet at $23.3 million as of 31 December 2020.

Management also advised the company continues to invest in product development, including an anticipated software upgrade option that could provide another revenue stream for the business.

Second half in the frame for Atomos

According to management, sales momentum has carried into the second half. The company remains cautious of COVID-19 impacts on trade but expects continued good progress.

The company also noted that Jeromy Young would move to the role of founder, where he will focus on future products, partnerships, and growth opportunities. Chris Tait will remain in the position of executive chair.

On the structural change, Young commented:

With this new role I am very excited to be focusing my time on creating and developing new product and revenue ideas, getting back to more of what I used to do 10 years ago when I (and Ian Overliese) founded Atomos.

Over the past year, we have significantly strengthened our management team, which now puts us in a position where others can take over the daily administrative duties, leaving me to focus solely on growing Atomos into a much more substantial global company.

Atomos share price snapshot

At the time of writing, the Atomos share price is up 12.3% to $1.05. Even with today’s dramatic jump, shares are still trading below their 52-week high of $1.315 and are down 24.6% for the year. For comparison, the S&P/ASX 200 Index (ASX: XJO) is down 3.6% over the same period.

Including today’s increase, Atomos now has a market capitalisation of $204.28 million.

More reading

• Why Atomos, Bendigo and Adelaide Bank, Coca-Cola Amatil, & Nearmap are racing higher

Mitchell Lawler owns shares of Apple. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Apple. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Atomos Ltd. The Motley Fool Australia has recommended Apple and Atomos 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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At lunch on Monday the S&P/ASX 200 Index (ASX: XJO) is back on form and charging higher. The benchmark index is currently up 0.8% to 6,862.9 points.

Here’s what is happening on the market today:

Nearmap reponds to short seller and releases half year update

The Nearmap Ltd (ASX: NEA) share price is racing higher today after responding to a short seller report and releasing its half year results. In respect to the latter, the aerial imagery technology and location data company reported annual contract value (ACV) of $112.2 million on a reported basis and $116.7 million on a constant currency basis. This represents a 16.1% and 21% increase, respectively, over the prior corresponding period. Management also comprehensively refuted all of the short seller’s allegations.

Bendigo and Adelaide Bank update impresses

The Bendigo and Adelaide Bank Ltd (ASX: BEN) share price is surging higher today after the release of its half year results. For the six months ended 31 December, the regional bank reported total income growth of 3.3% to $849 million and cash earnings growth of 1.9% to $219.7 million. Management advised that this was driven by growth in its lending portfolios and an increase in hedging revenue. This managed to offset a 7 basis points decline in its net interest margin to 2.30%. The bank also reported a sizeable reduction in its bad debts.

Altium half year results

The Altium Limited (ASX: ALU) share price is edging lower today after releasing its half year results. The electronic design software provider reported a 4% decline in revenue to US$80 million (not including its divested Tasking business). On the bottom line, Altium’s net profit after tax fell 12% to US$16.6 million. Looking ahead, management reaffirmed its full year revenue guidance of US$190 million to US$195 million. Once again, this excludes the Tasking business.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Monday has been the Nearmap share price with a gain of 12%. This follows the aforementioned release of its half year results and short seller response. The worst performer has been the Incitec Pivot Ltd (ASX: IPL) share price with a 2.5% decline following its update.

More reading

• Nearmap (ASX:NEA) share price soars 14% after response to short sellers
• Why Atomos, Bendigo and Adelaide Bank, Coca-Cola Amatil, & Nearmap are racing higher
• A turbulent tale of 2 ASX biotech shares: Polynovo (ASX:PNV) and Pro Medicus (ASX:PME)
• Why the Altium (ASX:ALU) share price is inching lower
• Incitec (ASX:IPL) share price falls on performance 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 Nearmap Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Altium. The Motley Fool Australia owns shares of Altium. 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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GPT Group (ASX: GPT) shares are on the rise this morning following release of the company’s annual results. At the time of writing, the GPT share price has jumped 3.39% to $4.27.

Let’s take a look at what the company reported.

What’s driving the GPT share price?

The GPT share price is pushing higher today despite the fact the company reported funds from operations (FFO) of $554.7 million for the 12 months ended 31 December 2020, down 9.6% compared to the prior year.

The group recorded a statutory net loss after tax in 2020 of $213.1 million, compared to a statutory net profit after tax of $880 million in 2019. 

However, operating net income was $280.2 million, up 1.8 % compared to 2019.

GPT reported an investment portfolio totalling $24.4 billion in assets under management (AUM) for the annual period.

The company’s property portfolio is presently 98.4% occupied, and 2020 rent collections totalled $95.3 million.

Despite the impacts of coronavirus, GPT Group collected 94% of net billings during the period.

The group’s property portfolio valuation dropped 4.8% compared to the previous year, based on an independent revaluation as at 30 December 2020.

GPT noted that its logistics portfolio has grown from $1.9 billion to $3 billion over the past two years. The company also advised it has increased capital allocation to logistics, which is now 21% of group assets.

The property investor reported liquidity of $1.8 billion which it claims fully funds current commitments through to 2024.

Outlook

Looking ahead, GPT intends to continue growing its logistics portfolio via acquisition and development. GPT has additional plans to expand its funds management platform further.

The company will progress its development pipeline opportunities throughout the year in response to changing market conditions.

Given the continued uncertainty in the business environment caused by the pandemic, no 2021 earnings or distribution guidance was provided. However, GPT expects to deliver 2021 earnings and distribution guidance with its March 2021 quarterly update.

A share buy-back program has been announced for up to 5% of securities on issue as GPT maintains its capacity to invest in strategic growth opportunities.

Company snapshot

GPT is a property investment company which owns and manages a portfolio of Australian retail, office and logistics property assets.

The company also manages three funds, the GPT Wholesale Office Fund (GWOF), the GPT Wholesale Shopping Centre Fund (GWSCF) and the GPT Metro Office Fund (GMF).

Over the past 12 months, GPT Group shares have fallen by more than 32%. Based on the current GPT share price, the company commands a market capitalisation of around $8 billion.

More reading

• ASX 200 up 0.8%: Nearmap jumps, Bendigo and Adelaide Bank impresses
• The Beach Energy (ASX:BPT) share price is on the rollercoaster today. Here’s why
• Nearmap (ASX:NEA) share price soars 14% after response to short sellers
• Why Atomos, Bendigo and Adelaide Bank, Coca-Cola Amatil, & Nearmap are racing higher
• A turbulent tale of 2 ASX biotech shares: Polynovo (ASX:PNV) and Pro Medicus (ASX:PME)

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

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