The BHP Group Ltd (ASX: BHP) share price has been a positive performer on Tuesday.

In afternoon trade the mining giant’s shares are up 0.5% to $37.46.

Why is the BHP share price pushing higher?

Investors have been buying BHP’s shares after it was the subject of a positive broker note out of Goldman Sachs.

According to the note, the broker has upgraded the company’s shares to a buy rating with a $40.10 price target.

This price target implies potential upside of 7% over the next 12 months excluding dividends. This return stretches beyond 12% if you include dividends.

Why did Goldman Sachs upgrade BHP’s shares?

The broker made the move after its commodities team lifted its iron ore price forecasts through to 2022.

It said: “Overall, although we are calling the market tightness and current prices to ease in 4Q20, but we are now more positive on the medium term outlook for iron ore.”

For the fourth quarter it expects an average price of US$105 per tonne (previously US$80), in 2021 it is forecasting an average price of US$90 per tonne (previously US$80), and in 2022 it expects an iron ore price of US$75 per tonne (previously US$70).

In addition to this, the broker believes BHP’s shares are good value at the current level.

It commented: “We upgrade BHP to Buy with a 12-m TP of A$40.1 based on; (1) valuation with the stock trading at 0.95xNAV (A$38.4/sh) and discounting long run iron ore of US$60/t (real), and best next 12-m FCF yield (10%) of the three majors on our base case estimates.”

Outside iron ore, it also has positive outlooks on other major commodities that BHP has in its product mix. These are oil, copper, and met coal, which it expects to account for 35% of operating earnings in FY 2021. It also likes the growth opportunities the miner has for these commodities.

Finally, it notes that BHP is trading at a premium to its global peers. However, it feels this premium should remain and sees more risks for rival Rio Tinto Limited (ASX: RIO).

It explained: “Since 2009 BHP has traded at a 0.5x multiple premium to key global mining peers, and we argue this multiple premium should continue to hold due to the diversification and stability of earnings and cash flow vs. peers. Also, we see elevated risk for RIO in the wake of recent events surrounding Juukan Gorge in the Pilbara. We believe RIO could see possible impact to future Pilbara approvals, production (both volume and product spec) and capex.”

I agree with Goldman Sachs on BHP and would be a buyer of its shares today.

More reading

• KGL Resources (ASX:KGL) share price surges on big upgrade
• ASX 200 rises by 0.7%, Cleanaway (ASX:CWY) shares dumped
• Monadelphous (ASX:MND) share price on watch after winning new BHP (ASX:BHP) contracts
• Brokers name 3 ASX shares to buy right now
• BHP’s climate plan is rubbish: shareholder group

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. 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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If you’ve googled anything in the past month or tuned into YouTube, you’ve likely run across Google’s open letter.

It first appeared on 17 August, addressing the Australian government’s proposed new Media Bargaining Code legislation. And Google was less than pleased, stating it will hurt Australians that make use of its search engine and YouTube.

Now Mel Silva, Google’s managing director in Australia, has released an update to that open letter, saying it puts Australians’ Google services at risk.

What did Google’s open letter update say?

In the letter, Silva made it clear that Google isn’t against a fair code of conduct to help manage the relationships between digital platforms like Google and traditional news media. Silva stressed Google was already working to help train thousands of Aussie journalists, and worked with more than 1 million businesses, helping support almost 100,000 jobs.

Silva also highlighted that Google pays tens of millions of dollars in tax to the Australian government in accordance to law.

Additionally, Silva took exception to the accusations the company ‘uses’ or ‘steals’ news content. Instead, she says Google simply links people to what they’re looking for, which includes news. As for the decline in traditional news revenues, she points to the loss of print classified advertising to online forums.

What changes does Google want in the proposed legislation?

Silva suggests three key changes in the proposed law which she says will “prevent news businesses getting even more special treatment at the expense of other Australians”.

First, Google says the law as it stands would force the company to give “news publishers advance notice of significant changes to search and other products and tell them how to minimise the effect on them”.

Stating that this disadvantages bloggers and small businesses, Silva instead wants to see that amended to require only “reasonable notice about significant actionable changes”.

Second, Google is concerned about the safety of the data it holds. Silva warns the current law would force them to inform news businesses on how they can “gain access” to data about how Australians use Google services.

Silva writes that a workable amendment Google would support would clarify that the company does not need to share any more information that what it already supplies to publishers under current law.

And third, Silva says that the current draft law inhibits fair negotiation, handing too much power to the news businesses “to make claims about the value they say they offer Google, while ignoring the more than $200 million in value that Google provides to publishers each year by sending people to their websites”.

Google want this changed to acknowledge the value that both sides are offering.

The Alphabet Inc Class C (NASDAQ: GOOG) share price — or Google’s share price in plain English — is up 11% year-to-date.

That gives Google a market cap north of US$1 trillion (AU$1.37 trillion). Plenty of fire power to wage a legal battle.

More reading

• Magellan (ASX:MFG) reveals best share buys for September
• The biggest global stock winners from the lockdown revealed
• ASX 200 Weekly Wrap: Friday crash pulls ASX back below 6,000 points
• NASDAQ plunges 5%. What next?
• Microsoft, Apple, and Alphabet led the stock market lower on Thursday

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. 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 and recommends Alphabet (C shares). The Motley Fool Australia has recommended Alphabet (C 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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There are many ASX shares that look cheaper than they were in recent history. Lower prices could suggest that they’re better value.

Plenty of ASX businesses have seen their share prices recover back to their pre-COVID-19 prices.

But in recent weeks there are some ASX shares that have actually fallen. Yet they’re still predicting longer-term growth. So there’s a chance they could be good buying opportunities right now:

Appen Ltd (ASX: APX)

Appen is one of the ASX’s leading technology shares. It is assisting large tech businesses with AI and machine learning development. The Appen share price has fallen 27% since 26 August 2020 (which was just before it reported).

In the recent FY20 half-year result it reported that revenue grew by 25% to $306.2 million. Statutory earnings before interest, tax, depreciation and amortisation (EBITDA) jumped by 44% to $50.9 million, though underlying EBITDA only increased 6% to $49.1 million.

Appen explained that underlying EBITDA excluding growth investments rose 35% to $62.5 million to include its investments in sales and marketing, China, engineering and the government market.

Statutory net profit rose 8% to $22.3 million and underlying net profit dropped 12%.

Appen’s guidance for FY20 is that full year underlying EBITDA will be in the range of $125 million to $130 million. The full year underlying EBITDA margin is expected to be in the high-teen percentages.

At the current Appen share price the ASX share is trading at 30x FY22’s estimated earnings. The Figure Eight acquisition improved the quality of the business. However, I’m not sure if Appen is worth buying – I’m not sure how much of a growth runway Appen has.

Australian Ethical Investment Limited (ASX: AEF)

The ethical fund manager is another business that has been drifting downwards. The Australian Ethical share price has fallen just over 50% since 19 June 2020. That’s a big drop, although it’s important not to anchor your expectations to a previous share price.

I think Australian Ethical could be a solid buy at today’s prices.

The ASX share reported FY20 profit rose by 46% to $9.5 million after funds under management (FUM) rose 19% to $4.05 billion. The fund manager experienced net inflows of $660 million, which was more than double the net inflows in FY19.

Excluding performance fees, revenue and underlying profit after tax (UPAT) both increased by 15% despite Australian Ethical lowering its fees for its members.

Australian employees (who earn enough) benefit from a mandatory superannuation contribution of 9.5% of the value of their wages. That should help steadily grow Australian Ethical’s FUM, particularly if it can keep growing its member numbers. In FY20 the ASX share saw its customer base grow by 20% with managed fund customers increasing by 16% and super members growing by 20%.

I think the fund manager will be able to attract and retain customers. Not only does it offer compelling investment returns, but its net promoter scores (NPS) are among the best in the industry. For super it has an NPS of 63 and in managed funds it has an NPS of 58.

Australian Ethical’s solid report wasn’t enough to send the share price back to $6 or more. But I like that the company’s balance sheet continues to strengthen with its cash level rising from $18.8 million to $21.4 million.

The strong balance sheet and rising profit allowed the business to declare a final ordinary dividend of 2.5 cents per share and a special performance fee dividend of 1 cent per share, bringing the full year dividend to 6 cents per share, up 20%.

Foolish takeaway

Both of these ASX shares have dropped heavily in recent weeks, I have a stronger conviction in Australian Ethical at the current share price compared to Appen. I believe the ethically-focused manager has plenty of growth potential with ethical investing rising in prominance.

More reading

• Buy Afterpay (ASX:APT) and these ASX shares before the tech rebound
• ASX shares to buy if there’s another crash
• 4 of the best ASX 200 shares to buy in September
• Is another stock market crash coming?
• 5 things to watch on the ASX 200 on Monday

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 Australian Ethical Investment Ltd. The Motley Fool Australia owns shares of Appen Ltd. The Motley Fool Australia has recommended Australian Ethical Investment 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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Afterpay Ltd (ASX: APT), Zip Co Ltd (ASX: Z1P) and other buy now, pay later (BNPL) shares are soaring today. At the time of writing, the Afterpay share price is up 2.77% to $74.59. The Zip share price is up 2.40% to $5.98.

BNPL shares soar

Other BNPL shares are also enjoying the limelight. Openpay Group Ltd (ASX: OPY) shares are up 7.94% to $2.99, while 2020 5-bagger (at one point) Sezzle Inc (ASX: SZL) shares are up a healthy 10.63% to $6.45.

So why are BNPL shares going gangbusters today? It’s certainly a nice weather change that BNPL shareholders would welcome with open arms after a bruising week or 2.

Legal win

According to reporting in the Australian Financial Review (AFR) today, the BNPL sector has just had a big win in the Australian Competition Tribunal. The tribunal has found that interest-free instalment products benefit the economy and don’t result in consumer harm.

The tribunal has been moderating a legal dispute between BNPL provider FlexiGroup Limited (ASX: FXL) and the Australian Competition and Consumer Commission (ACCC). The ACCC argued that BNPL providers should be required to be licensed and conduct responsible lending and credit checks on its customers in a similar way to traditional credit providers like the ASX banks.

However, the tribunal rejected these arguments in the following statement:

The tribunal considers that unregulated consumer credit in the form of ‘buy now, pay later’ finance is a significant and popular form of finance used by consumers to acquire new energy technology products desired by those consumers and therefore the supply of such finance provides economic benefits…

The evidence does not establish that the provision of such finance in connection with the supply of new energy technology products generates material consumer harm.

The tribunal went on to state that any consumer harm instead came from “unlawful selling practices” rather than the BNPL products themselves.

Although terms differ between the providers, BNPL products generally do not charge interest. Instead, they require that ‘loans’ or purchases be paid back in a series of instalments. Fees are only generally levied on late payments and on merchant sales.

Are BNPL shares a buy after this decision?

I think the decision today is a rather immaterial one for BNPL companies. Apart from potentially setting an international precedent, I don’t think it would worry the larger BNPL players like Afterpay and Zip if credit standards are applied to their products. These companies are concentrating their growth strategies on the populous and lucrative markets outside Australia like the United States and Europe.

Even so, I still think the BNPL share sector is a little overpriced as a whole, with a lot of speculative mania going on in recent weeks. I would love to enter into BNPL myself, but I’m waiting for the hype to cool before doing so.

More reading

• BrainChip (ASX:BRN) and Zip (ASX:Z1P) were among the most traded shares on the ASX last week
• ASX 200 flat: Afterpay (ASX:APT) rebounds, Cleanaway (ASX:CWY) sinks, big four banks lower
• Why Afterpay, Clinuvel, Mesoblast, & Uniti shares are storming higher
• Have we reached “peak” Afterpay (ASX:APT) as its US website growth stalls?
• Buy Afterpay (ASX:APT) and these ASX shares before the tech rebound

Sebastian Bowen 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’s parent company Motley Fool Holdings Inc. recommends Sezzle Inc. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended FlexiGroup Limited and Sezzle Inc. 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 Mesoblast Limited (ASX: MSB) share price has jumped today on the back of winning the Fierce Innovation Award. The Mesoblast share price was trading at $4.95, up 6.6% from yesterday’s market close. It has since dropped back to $4.85 at the time of writing, up 4.53%.

This compares to the S&P/ASX 200 Index (ASX: XJO) which is down 0.1% at 5,892 points.

Winner of 2020 biotech innovation

Mesoblast announced that its flagship product remestemcel-L had won the Fierce Innovation Awards: Life Sciences Edition 2020 for biotech innovation. The evaluation criteria for these awards is based on effectiveness, technical innovation, competitive advantage, financial impact, and true innovation.

The peer-reviewed program is overseen by a panel of executives from major biotech and pharmaceutical companies. They include Astellas, Accenture, AstraZeneca, Angiocrine Bioscience, Biotech Research Group, NIHR Clinical Research Network, Medidata Solutions and PPD.

Mesoblast chief executive Dr Silviu Itescu was proud of the company’s achievements, saying the award was an important recognition of the Mesoblast’s efforts. Mr Itescu said the company strived for innovation in the cell therapy industry and sought to help children suffering from preventable diseases.

What is remestemcel-L

Mesoblast’s lead drug candidate remestemcel-L is a cellular therapy product that comprises cultured, cryopreserved mesenchymal stem cells derived from the bone marrow of healthy donors.

The company is developing remestemcel-L to treat steroid-refractory acute graft versus host disease (SR-aGVHD). Mesoblast has also been experimenting with the product to treat patients infected with COVID-19.

Hero drug updates

Remestemcel-L is currently under priority review by the United States Food and Drug Administration (FDA) awaiting approval. It is anticipated the product will launch in the US at the end of 2020. The FDA will convene on September 30 to decide on whether remestemcel-L’s will receive its new drug approval stamp.

In addition, Mesoblast plans to gauge remestemcel-L’s effectiveness on 300 ventilator-dependant adults with COVID-19 in a controlled Phase III trial. The company will seek to confirm results from a pilot study at New York’s Mt Sinai hospital which showed a 75% recovery rate after 10 days of receiving two intravenous doses of remestemcel-L.

Should you invest in the Mesoblast share price?

Mesoblast shares have soared higher since COVID-19 swept the world. The Mesoblast share price is up 348% in the last 6 months and could continue to go higher if the FDA approves Mesoblast’s hero drug. It will be interesting to watch the ongoing developments in the coming weeks. I urge investors to pay close attention. The Mesoblast share is one to add to your watchlist.

More reading

• Why the Ramelius (ASX:RMS) share price is at a new all-time high
• Brokers upgrade Macquarie (ASX:MQG) share price targets despite profit warning
• ASX 200 flat: Afterpay (ASX:APT) rebounds, Cleanaway (ASX:CWY) sinks, big four banks lower
• KGL Resources (ASX:KGL) share price surges on big upgrade
• Why Afterpay, Clinuvel, Mesoblast, & Uniti shares are storming higher

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. 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 BrainChip Holdings Ltd (ASX: BRN) share price has continued its slide and is crashing notably lower on Tuesday.

In afternoon trade the artificial intelligence technology company’s shares are down a massive 21% to 53 cents.

This latest decline means the BrainChip share price is now down 45% from the record high it hit just last week.

Why is the BrainChip share price crashing lower?

The BrainChip share price appears to have come under pressure due to profit taking after some sensational gains over the last few weeks.

For example, even after accounting for today’s sizeable decline, its shares are up over 120% in the space of a month. 

What else is weighing on its shares?

In addition to this, I suspect investors may have come to the realisation that the rampant rise in its share price has not truly been justified.

While BrainChip is making progress with some exciting technology, it still has a long way to go before it proves it has a marketable end product and is generating meaningful revenue.

In the first half of FY 2020, BrainChip reported revenue of US$13,397 and posted a loss of US$6.86 million.

It is also worth noting that the company doesn’t have the largest market opportunity for its technology. It estimates that the Neuromorphic Chip Market was worth US$111 million in 2019 and will grow to US$366.14 million in 2025.

Given the competition in the industry from a number of tech giants, it seems unlikely BrainChip will be able to dominate this market.

So with a market capitalisation of over $1 billion (prior to today’s decline), BrainChip appears to be one of the most wildly overvalued shares on the Australian share market in my opinion.

In light of this, I wouldn’t be surprised to see its shares continue their descent in the coming days.

If you’re looking for exposure to the artificial intelligence market, I would suggest you consider Appen Ltd (ASX: APX) instead.

More reading

• BrainChip (ASX:BRN) and Zip (ASX:Z1P) were among the most traded shares on the ASX last week
• Why Beach, BrainChip, Cleanaway, & Credit Corp shares are sinking lower
• Why Althea, BrainChip, Rio Tinto, & Starpharma shares are pushing higher
• 3 booming ASX shares for the new space age
• BrainChip (ASX:BRN) share price rockets 24% higher on Akida update

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Appen 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 Ramelius Resources Limited (ASX: RMS) share price has today hit a new all-time high. At market open this morning, the Ramelius share price opened at $2.37 and immediately shot higher, hitting the new high watermark of $2.50 just after midday. The shares have cooled somewhat since, but are still sitting at $2.44 at the time of writing. Ramelius continues to deliver for its shareholders. This is a company that was just 19 cents a share 5 years ago, and $1.20 just 1 year ago.

So what is behind this latest move upwards for this ASX gold miner?

Why the Ramelius share price is shooting up today

Along with other ASX gold miners, Ramelius has been in a nice tailwind all year. At the start of 2020, gold was priced at US$1,519 an ounce. Today, the gold price is US$1,965, up nearly 30% year to date. Back in July, gold broke its 9-year record high of US$1,921 an ounce and has climbed higher ever since, topping out at over US$2,061 in early August.  It seems a pandemic, uncertain economic times and massive share market volatility are a perfect cocktail for a safe haven asset. Who knew!

As a gold miner, Ramelius is leveraged to the price of gold, which means if gold rises, the Ramelius share price will likely rise by a multiple of the gold appreciation. That explains why Ramelius shares have been charging higher all year and are up 93% year to date.

Investors not bothered by insider selling

Investors also don’t seem to mind that the company’s managing director Mark Zeptner, as well as non-executive director Michael Bohm, have been offloading shares recently. According to an ASX filing on 11 September, Mr Zeptner has recently offloaded 1.75 million shares, with Mr Baum unloading 237,500 shares as well. Apparently, Mr Zeptner’s sale was for the purpose of meeting ‘tax obligations’.

But earlier this month, we also got some news that would have boosted Ramelius’ appeal to investors even more.

Enter the ASX 200

It was announced on 4 September that Ramelius will officially join the S&P/ASX 200 Index (ASX: XJO) from 1 October. The ASX 200 is the ASX’s most popular and widely quoted index and is also the foundation for most ASX-tracking index exchange-traded funds (ETFs). ASX 200 index funds such as the iShares Core S&P/ASX 200 ETF (ASX: IOZ) blindly follow the ASX 200, so if Ramelius is included in the index, ETFs like IOZ will buy Ramelius shares to reflect this in their holdings.

This means that on 1 October, there is likely to be an influx of buying pressure on the Ramelius share price. Investors know this and will probably buy into Ramelius before this happens today.

That, in my opinion, is why Ramelius is at a new all-time high today.

More reading

• The Mesoblast (ASX:MSB) share price surges on award win
• Brokers upgrade Macquarie (ASX:MQG) share price targets despite profit warning
• ASX 200 flat: Afterpay (ASX:APT) rebounds, Cleanaway (ASX:CWY) sinks, big four banks lower
• KGL Resources (ASX:KGL) share price surges on big upgrade
• Can the Harvey Norman (ASX:HVN) share price push higher in 2021?

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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 Access Innovation Holdings Limited (ASX: AIM) share price has hit the ASX boards in style today.

After listing on the share market at a price of $1.23 per share, the technology company’s shares are up 10% to $1.39 currently.

They were up as much as 23% to $1.51 at one stage shortly after listing.

What is Access Innovation?

Founded in 2002, Access Innovation is a global provider of technology-driven live and recorded captioning, transcription, and translation services.

Its technology platform combines artificial intelligence and human expertise to deliver speech-to-text accuracy.

Access Innovation is the biggest captioning provider in the Australian market, with clients including major free-to-air and pay television networks.

It also has growing international footprint, with offices in the US, UK, Canada and Singapore. Globally, it provides captioning for nearly 1 million minutes of live and recorded media content, online events, and web streams every month.

Why did it launch an IPO?

Today’s initial public offering (IPO) raised gross proceeds of $65.5 million at a price of $1.23 per share. Based on the current share price and its 144.4 million shares on issue, Access Innovation has a market capitalisation of approximately $200 million.

The funds from the IPO will be used to continue its current growth trajectory, particularly in offshore regions. It will also support the ongoing developments of its technology platform to provide a wider range of services for its customers.

Management notes that the IPO attracted strong demand from domestic and international institutions, retail investors, along with the ongoing support of existing shareholders and employees.

The company’s Chair, Deanne Weir, commented: “We are delighted with the outcome of the IPO and by the strong support shown by both institutional and retail investors. Our listing today on the ASX marks an important milestone for Ai-Media, supporting our global growth strategy along with our continued investment in product innovation and our technology platform. We want to help build an inclusive world by making all content accessible to all people everywhere.”

This sentiment was echoed by its Co-founder and Chief Executive Officer, Tony Abrahams.

He said: “We’re all excited by the opportunities ahead of us in a growing global market, by harnessing the power of our high-quality, security-accredited and scalable proprietary technology to deliver great outcomes for our customers and our shareholders.”

More reading

• ASX welcomes $180 million tech player on Tuesday

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. 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 Australian Primary Hemp Ltd (ASX: APH) share price is up 15.63% today at the time of writing to 18.5 cents. This came after the company announced it has started production of hemp-based personal protective equipment (PPE) which would be supplied to retailers immediately.

What was in the announcement?

Investors are driving up the Australian Primary Hemp share price after the company announced the launch of a protective face mask which provides 99.9% microbial reduction. Additionally, the company launched a hemp-infused hand sanitiser.

Australian Primary Hemp stated that it developed its new products in response to concerns about the environmental effects of traditional face masks and other PPE products.

The company’s face masks are biodegradable and have been tested by certification company SGS. Its hand sanitiser has antiseptic and moisturising properties and, according to the company, meets World Health Organisation standards.

Australian Primary Hemp had advised that orders for its new PPE products currently stand at a value of $315,000. The company will commence supplying face masks to Australian and international retailers immediately with the hemp-infused hand sanitiser available for online ordering.

About the Australian Primary Hemp share price

Australian Primary Hemp produces, manufactures and distributes hemp products, farming its own hemp and using it to create manufactured goods. It has been listed on the ASX since 2019.

In the year to 30 June 2020, Australian Primary Hemp had revenue of $1.16 million. It experienced a loss of $5.91 million in the 2020 financial year. 

In August, Australian Primary Hemp announced it had signed a 2-year agreement with Annex Foods to supply it with hemp seeds. The agreement was valued at $760,000 and the hemp seeds will be used as an ingredient in Annex Food’s Red Tractor brand products in Australia and overseas.

The Australian Primary Hemp share price is up 278% since its 52-week low of 4.9 cents and is up 8.8% since the beginning of the year. The company’s shares are down 33.9% since this time last year.

More reading

• BNPL shares like Afterpay (ASX:APT) and Zip (ASX:Z1P) are soaring today. Here’s why
• The Mesoblast (ASX:MSB) share price surges on award win
• Why the BrainChip (ASX:BRN) share price is crashing 21% lower today
• Why the Ramelius (ASX:RMS) share price is at a new all-time high
• Access Innovation (ASX:AIM) share price rockets 23% higher on ASX debut

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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Australia’s leading investment platform provider CommSec has just released data on the five most traded ASX shares on its platform from last week.

Once again, the usual suspects are populating the list this week, with buy now pay later (BNPL) and tech shares heavily featured.

Here’s the data:

Brainchip Holdings Ltd (ASX: BRN)

BrainChip was the most traded share on the CommSec platform last week by some distance. The ultra-low power high performance artificial intelligence technology provider’s shares accounted for a whopping 8.4% of trades on the platform. Approximately two-thirds of these trades came from buyers, helping to drive the BrainChip share price 30% higher over the period. Investors have been buying shares this month after it announced a potential program collaboration with NASA.

Zip Co Ltd (ASX: Z1P)

This BNPL provider was very popular with ASX investors again last week. Zip shares accounted for 3.4% of total trades made on the CommSec platform over the five days, with 61% coming from buyers. However, this wasn’t enough to stop the Zip share price from dropping notably lower. Concerns over PayPal’s entry into the BNPL market and a tech selloff weighed on its shares.

Afterpay Ltd (ASX: APT)

This payments company’s shares accounted for 2% of trades on the CommSec platform over the period. The buying and selling was largely even last week, with 47% of trades coming from the buy side. The Afterpay share price dropped 5.5% lower over the week due to the tech selloff.

BetaShares NASDAQ 100 ETF (ASX: NDQ)

This popular exchange traded fund (ETF) made the list for a second week in a row. The BetaShares NASDAQ 100 ETF was involved in 1.6% of trades on the CommSec platform last week. Once again, the majority of these trades came from the buy side, with 88% coming from buyers. Investors appear to believe the tech selloff on Wall Street has created a buying opportunity (I agree).

CSL Limited (ASX: CSL)

CSL has re-entered the top five with 1.5% of trades on the CommSec platform attributed to its shares. Last week the company announced plans to manufacture COVID-19 vaccines for Australia should one be successfully developed. Investors appeared to like this, with 72% of trades coming from buyers. The CSL share price edged higher over the five days.

More reading

• BNPL shares like Afterpay (ASX:APT) and Zip (ASX:Z1P) are soaring today. Here’s why
• Why the BrainChip (ASX:BRN) share price is crashing 21% lower today
• Why Beach, BrainChip, Cleanaway, & Credit Corp shares are sinking lower
• ASX 200 flat: Afterpay (ASX:APT) rebounds, Cleanaway (ASX:CWY) sinks, big four banks lower
• Why Afterpay, Clinuvel, Mesoblast, & Uniti shares are storming higher

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 BETANASDAQ ETF UNITS, CSL Ltd., and ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended BETANASDAQ ETF UNITS. 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.

The post BrainChip (ASX:BRN) and Zip (ASX:Z1P) were among the most traded shares on the ASX last week appeared first on Motley Fool Australia.

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