Retail trade increased 2.7% in June following a 16.9% rise in May as Aussies continued to spend despite the recession. The spending figures bumped up in June when physical stores reopened after being closed in the first round of coronavirus lockdowns.

But online retailers are also experiencing very solid demand. It seems government measures, including JobKeeper and JobSeeker, along with early access to superannuation withdrawals, have supported spending across the economy. 

Despite the continued spending by consumers, purchasing patterns have shifted – we are buying different things in different ways. Products that make lockdown more comfortable have been in strong demand, including home furnishings, electronics, entertainment, and DIY supplies.

Consumers are increasingly sourcing their purchases online as movement outside the home is restricted. We take a look at 3 ASX retailers where consumers are spending. 

Kogan.com Ltd (ASX: KGN)

Online-only retailer Kogan has seen a surge in sales since the pandemic first hit, with its faith in the digital channel paying off. Kogan retails everything from electronics, to toys, to homewares, and sells exclusively online.

The company saw sales surge in April and May, a trend that continued in June. It has now been four years since Kogan listed on the ASX at $1.80 a share, and since then the company has delivered four consecutive years of significant growth in sales and earnings. Shares are now trading at $19.02 with more than 2 million customers shopping at Kogan in the last 12 months alone. 

Adairs Ltd (ASX: ADH) 

Adairs is an omni-channel home furnishings retailer selling bed linen, manchester, soft furnishings and home accessories. Although it operates more than 160 physical stores across Australia and New Zealand, Adairs also has a strong online presence.

In the 24 weeks to 14 June 2020, Adairs grew online sales by 92.6%. Store sales grew 5.3% over the same period despite store closures between March and May. This gave total growth for the period of 27.4%, driven by consumers looking to upgrade their surroundings as they spend more time at home. The Adairs share price has surged in line with its sales, and quadrupling from its March low. 

Temple & Webster Group Ltd (ASX: TPW)

Temple & Webster Group Ltd is an online only furniture and home accessories retailer which has seen stellar growth in the digital commerce boom.

Unaudited full year results show EBITDA up nearly 500% to $8.5 million as sales grew by 74% to $176 million. Many consumers stuck working from home have taken the opportunity to splurge on some new furnishings, giving Temple & Webster a 77% boost in active customer year on year. The Temple & Webster share price has surged accordingly, up more than 400% since March.

More reading

• ASX marching higher despite COVID-19: Where should you invest?
• 2 of the best online shopping ASX shares to buy in August
• 3 ASX shares I’d buy if the ASX crashes again
• ASX shares that could get a boost from Victoria’s shutdown
• Reporting season metrics to watch for JB Hi-Fi

Kate O’Brien has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd and Temple & Webster Group Ltd. The Motley Fool Australia has recommended Kogan.com ltd and Temple & Webster Group 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.

The post Here’s where Australians are spending – despite the recession appeared first on Motley Fool Australia.

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Although the market is dropping lower on Wednesday, that hasn’t stopped the Breville Group Ltd (ASX: BRG) share price from continuing its positive run.

In afternoon trade the appliance manufacturer’s shares were up almost 3% to a new record high of $26.99.

When the Breville share price reached that level, it meant it was up a massive 53% since the start of the year.

Why is the Breville share price on fire in 2020?

Investors have been buying Breville shares this year after its strong growth continued during the pandemic.

A trading update in May, which accompanied its $104 million equity raising, revealed that Breville was performing very strongly during the second half of FY 2020, despite the pandemic and store closures.

Between January 1 and April 30, Breville’s revenue was up 32% on the prior corresponding period. Sales grew 25% in March and 21% in April.

Although the company hasn’t provided an update since, the general consensus is that Breville has continued to perform in line with these growth rates over the last three months.

One broker that appears confident that this is the case is Morgan Stanley.

What did Morgan Stanley say?

Last month the broker initiated coverage on Breville with an overweight rating and $28.00 price target.

It notes that the coronavirus pandemic has been a positive for Breville’s business. With restaurants closed and consumers stuck at home, they have been cooking more at home and buying kitchen appliances.

Coffee machines are also believed to be in demand with consumers, who seemingly can’t get through their workday at home without a latte or two.

Is it too late to invest?

Based on the current Breville share price, there is still a little bit of upside left before it reaches Morgan Stanley’s price target.

Not that the broker necessarily thinks it will stop there. Its analysts have suggested the Breville share price could reach $62.00 by FY 2030.

This is based on the assumption it captures a big enough slice of a global serviceable market worth $10 billion.

It commented: “This assumes that BRG can capture 33% of the total revenue opportunity, or A$3.1bn at an EBIT [earnings before interest and tax] margin of 16.2%. We then apply a terminal EBIT multiple of 15.5x, in-line, with BRG’s five-year average.”

Breville is due to release its full year results on 13 August 2020.

More reading

• This is the only ASX sector tipped to report earnings growth this reporting season
• How these ASX investors made 60% in three months
• These ASX 200 consumer discretionary shares are bucking the economic cycle
• Why Audinate, Breville, Zip Co, & Zoono shares are sinking lower today
• ASX 200 flat: Big four banks and travel shares push higher, Breville tumbles lower

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 have $10,000 sitting in your savings account, then now could be a good time to consider investing it into the share market.

With the share market still down materially from its February highs, I believe there are plenty of gains ahead for investors over the coming years.

Here are three top ASX shares that I would invest these funds into:

Altium Limited (ASX: ALU)

This electronic design software company could be a great place to invest the $10,000. Although Altium’s shares are not conventionally cheap, I believe they are good value based on its growth profile. Altium provides an award-winning printed circuit board (PCB) design software platform, Altium Designer, which I believe could experience increasingly strong demand over the next decade thanks to the Internet of Things (IoT) and artificial intelligence (AI) booms. Over the coming years the company is aiming to dominate the market. Given the quality of its offering, I believe it will achieve this.

NEXTDC Ltd (ASX: NXT)

Another option for a $10,000 investment is NEXTDC. It is another tech share which looks expensive on paper but could prove to be good value over the long term. Especially if the cloud computing boom continues to accelerate. This is because as cloud computing use increases, demand for NEXTDC’s innovative data centre outsourcing solutions and connectivity services is likely to increase and drive strong earnings growth.

Xero Limited (ASX: XRO)

I think Xero would be a great option for investors. Although its shares have been on fire over the last few years, I believe its growth story is only getting started. This is because of the opportunity its high quality software has to become the platform of choice for small and medium sized businesses across the globe. The key to this will be the company conquering the massive United States market. Although progress in the lucrative market has been slower than many would like, I believe it is worth remembering that this is a marathon and not a sprint.

More reading

• This is the only ASX sector tipped to report earnings growth this reporting season
• 2 ASX tech shares to buy and hold beyond 2026
• Want to invest $3,000 into ASX blue chips?
• Why I would invest $50,000 into these excellent ASX shares
• Why I would buy NEXTDC and these stellar ASX growth shares

James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Altium. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Xero. 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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Wealth management services provider Netwealth Group Ltd‘s (ASX: NWL) share price surged in July. The stock peaked at $12.67 per share on 30 July, before ending the month at $12.01 on 31 July.

That works out to a 33.9% share price increase for July, making it the best performer on the S&P/ASX 200 Index (ASX: XJO). Year-to-date, Netwealth’s share price has gained 62.3%. During that same time, the ASX 200 is down 10.2%

The company wasn’t immune to the broader COVID-19 panic selling that rattled markets in late February into mid-March. But after bottoming at $5.30 per share on 16 March, it’s been a sea of green for Netwealth investors.

In mid afternoon trading today, the share price was up another 1.4% to $13.03 per share. That’s a highly laudable 145.9% gain since its mid-March low.

What does Netwealth Group do?

Founded in 1999, Netwealth counts itself among Australia’s fastest growing wealth management companies. The company bills itself as a technology company, a superannuation fund, and an administration business.

As a specialist investment platform, it provides investment management solutions. The company’s specialist investment platform also enables customers to invest in a wide range of products.

Why did Netwealth’s share price soar?

On 9 July, Netwealth Group released its quarterly business update. The report highlighted that total funds under management grew to $31.5 billion in the 2020 financial year.

That growth — up 35% year-on-year — was driven by record net inflows of $9.1 billion for the financial year. Over the most recent quarter, funds under management grew 13%.

Additionally, Netwealth reported adding 3,261 new accounts for the quarter, bringing their total member accounts to 81,804.

And the outlook for Netwealth’s shareholders remains strong. The company received a boost in the wake of the Royal Commission into banking and financial services, which has seen a growing number of retail investors turn away from the traditional banks.

The company likely also benefited from the increase in mum and dad investors deciding to take control of their own wealth during the initial wave of pandemic lockdowns, a trend I believe has some ways to run yet.

Netwealth’s share price has already gained 8.2% in the first three trading days of August.

More reading

• The latest ASX stocks to be hit by broker downgrades today
• Top brokers name 3 ASX 200 shares to buy today
• Why the Treasury Wine share price is sinking today
• ASX marching higher despite COVID-19: Where should you invest?
• Why this ASX miner that’s missing the rally is one of my key picks for FY21

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Netwealth. 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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I would much rather buy property shares rather than buying an investment property right now.

There are several negatives to looking at residential properties in my opinion. There is a fairly limited supply of properties to buy – so the price isn’t likely to be that good (yet). Rental income is uncertain due to COVID-19 impacts and rental yields are low. Property prices may fall over the short-to-medium-term.

I think property shares have the potential to offer better growth and income potential:

Rural Funds Group (ASX: RFF)

Many different types of properties are struggling at the moment. Office buildings and shopping centres have taken a valuation hit this year. But farmland is one area that may see continued strength over the shorter-term and the longer-term.

Rural Funds owns a variety of different types of farms including vineyards, cattle, cotton, almonds and macadamias. This offers good diversification, much better than owning a single property in one location.

The property share leases its farms to a number of high-quality tenants like Treasury Wine Estates Ltd (ASX: TWE), Select Harvests Limited (ASX: SHV), Olam and JBS. Strong tenants are more likely to be able to keep paying the rent as well as generating long-term earnings growth (and afford higher rental payments). Rural Funds also owns significant water entitlements which are leased to its tenants.

The real estate investment trust (REIT) aims to increase its distribution each year by 4%. At the current Rural Funds share price it offers a FY21 distribution yield of 5.4%.

Centuria Industrial Reit (ASX: CIP)

This is another REIT. I think it’s better to own a portfolio of quality properties spread across the nation rather than a single building like an investment property.

Centuria Industrial owns various industrial properties, indeed it’s the largest domestic pure-play industrial REIT on the ASX. Some of its largest tenants include Arnott’s, Woolworths Group Ltd (ASX: WOW) and Visy.

Today the property share announced that it’s going to acquire a Telstra Corporation Ltd (ASX: TLS) data centre for $416.7 million with a 30-year weighted average lease expiry (WALE), as well as two other smaller acquisitions.

After that acquisition its portfolio will have 53 properties with a WALE of 10.2 years and occupancy of 98.2%.

Centuria noted that there is a rising trend of ecommerce, particularly for non-discretionary items, like groceries and pharmaceuticals, which is driving lease demand along with manufacturing and packaging. Warehouses are becoming even more important.

At the current Centuria Industrial reit share price it offers a FY21 distribution yield of 5.1%.

Brickworks Limited (ASX: BKW)

Brickworks is one of my favourite property businesses – it operates a variety of divisions.

Its building product divisions are facing difficulties due to COVID-19, but over the long-term I think construction will return to normal. In Australia it produces and sells bricks, roofing, precast, paving, masonry and so on. I like the idea of profiting from the construction of properties without taking on the risks of ownership (and the associated debt).

The property share also has a US building products division which is largely just focused on bricks at the moment. After a few recent acquisitions Brickworks is now the market leader in the north east of the US.

I think it’s a good buy at the moment because of its other assets, which are defensive. It owns a 50% stake of an industrial property trust along with Goodman Group (ASX: GMG). The trust is planning to build two huge warehouses for Amazon and Coles Group Limited (ASX: COL), which will increase the value and rental income.

It also owns a large amount of Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) shares, which provides defensive earnings and growing dividends to Brickworks (and all other shareholders).

I think the best time to buy cyclical shares, like a construction business, is during the difficult times – such as right now.

At the current Brickworks share price it offers a grossed-up dividend yield of 5.2%.

Foolish takeaway

Each of these property shares are defensive, have long-term growth prospects and offers much more diversification than a single investment property. At the current prices I think Brickworks is the best value option.

More reading

• ASX 200 down 1.15%: NAB downgraded, Telstra asset sale, gold miners rocket
• Telstra share price on watch after major asset sale announcement
• 3 ASX dividend shares raising their dividends like clockwork
• Buy these ASX dividend shares if the RBA cuts rates
• ASX 200 edges lower, Melbourne enters stage 4 lockdown

Motley Fool contributor Tristan Harrison owns shares of RURALFUNDS STAPLED and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns shares of and has recommended Brickworks, RURALFUNDS STAPLED, Telstra Limited, Treasury Wine Estates Limited, and Washington H. Soul Pattinson and Company 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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Poseidon Nickel Ltd (ASX: POS) shares have surged 40.63% in today’s trade to 4.5 cents at the time of writing. The rising Poseidon share price came after the company announced a positive intersection at its Golden Swan deposit.

What was in the announcement?

According to the announcement, the company intersected 9 metres of massive nickel sulphides at its Golden Swan deposit. The assays from the result are pending. The intersection is around 50 metres away from another recent discovery hole which previously intersected 7.6 metres at 8.8% nickel.

Poseidon stated that the massive nickel sulphides sit on a highly prospective felsic terrace, which refers to a terrace of a particular volcanic rock, that could parallel the nearby Silver Swan underground mine. Drilling is set to continue.

Poseidon Nickel’s Managing Director and CEO, Peter Harold, commented on the result, stating;

“This latest intersection has been worth waiting for after operational delays caused by COVID and then the completion of the important Downhole Electromagnetic (DHEM) platform hole below Golden Swan slowed progress. The recently completed drill hole confirms the nickel sulphide nature of the EM responses measured to date and we are looking forward to receiving the assays. With the installation of the underground loop nearing completion we hope to highlight further potential around the current Golden Swan intersections as our geological understanding of this area improves.”

About the Poseidon share price

Poseidon is a nickel producer and explorer with operations in Australia. The company currently has three projects in operation within 300km of Kalgoorlie, Western Australia.

In its quarterly report to 30 June 2020, the company announced that it had discovered 4% nickel over 23.1 metres at its Golden Swan deposit. This included a high grade component of 2.1 metres that averaged 15.9% nickel.

The company had cash at the end of the June quarter of $45,224,000 compared to $48,581,000 at the end of the previous quarter.

Poseidon Nickel released a business update in June which stated the company had combined nickel resources of 395,530 tonnes and 180,000 ounces of gold.

The Poseidon share price is up 80% from its 52 week low of 2.5 cents and 12.5% since the beginning of the year after today’s rise. The Poseidon share price is also 12.5% up since this time last year.

More reading

• 3 property shares I’d rather buy over an investment property
• Why Amazon shares climbed 14% last month
• The latest ASX stocks to be hit by broker downgrades today
• Why Alterity Therapeutics’ share price has rocketed 96% in 2 days
• Earnings preview: What to expect from the Coles FY 2020 result

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.

The post Poseidon share price up 40% on positive announcement appeared first on Motley Fool Australia.

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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.

What happened

Amazon.com, Inc (NASDAQ: AMZN) shares moved higher in July, riding a bullish wave in e-commerce stocks as the United States experienced another resurgence of COVID-19 cases. The tech giant also reported a blowout earnings report at the end of the month. According to data from S&P Global Market Intelligence, the stock finished the month up 14%. 

As you can see from the chart below, the stock got off to a strong start and held on to those gains for the duration of July, surging on its earnings report at the end.

^SPX data by YCharts

So what?

Amazon shares jumped out of the gate at the beginning of July. This early rise might have been part of broader market gains on a June unemployment report strong enough to suggest the economy was rebounding from the coronavirus crisis.

The stock then benefited from a rise in COVID-19 cases that led some states to pump the brakes on reopening measures and caused investors to anticipate extended impact from the pandemic. These factors suggest that reliance on digital services will only increase.

With its strength in e-commerce, cloud computing, and video streaming, Amazon has been one of the biggest beneficiaries of the pandemic. Its stock has about doubled from its depths during March and now tops a $1.5 trillion market value.

The company also launched a new healthcare partnership with Crossover Health in July to open clinics for Amazon employees. The move potentially brings Amazon closer to disrupting the $4 trillion healthcare market and finding a new avenue for growth.  

The company’s second-quarter earnings report confirmed investors’ high expectations, as sales jumped 40% in the quarter and earnings per share nearly doubled.

Now what

The second-quarter report was Amazon’s best ever and a testament to its strength in e-commerce and areas like cloud computing. It expects to grow its warehouse space by 50% in the second half of the year as it ramps up for the holiday season and a delayed Prime Day.

This anticipated increase in warehouse capacity signifies that investors should expect the company’s breakneck growth to continue. While Amazon stock is still pricey according to conventional metrics, the surge in profitability shows that it still has plenty of upside potential.

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

More reading

• Better Buy: Alphabet vs. Amazon
• 3 ways to play the skyrocketing tech shares
• Better Buy: Netflix vs. Amazon
• Why Amazon’s share price is set to leap on the opening bell
• US tech shares deliver massive results – what does it mean for ASX tech shares?

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors.  Jeremy Bowman owns shares of Amazon. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. The Motley Fool Australia has recommended Amazon. 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 S&P/ASX 200 Index (Index:^AXJO) is trying to claw back from steep morning losses, but sentiment towards some ASX stocks remain poor.

The top 200 stock benchmark is down 0.5% at the time of writing, but it’s at least managed to climb back to 6,000. It hit an intraday low of 5,966 in morning trade.

However, some remain deep in the red after leading brokers downgraded their recommendation on these ASX stocks.

Large legal liability

One that’s wallowing in the red is the Monadelphous Group Limited (ASX: MND) share price. Shares in engineering contractor slumped 3.5% to $7.98 after UBS swung an axe to its valuation and rating.

The broker’s move is driven by a legal stoush between the company and its client Rio Tinto Limited (ASX: RIO).

Rio Tinto is suing Monadelphous for $493 million as the miner believes the contractor was responsible for a fire at its Cape Lambert facility in 2019.

Risk of earnings wipeout

This is a very significant amount and Monadelphous’ insurance will only goes up to $150 million. The net $343 million (before legal costs) is nearly half of Monadelphous’ market cap!

“While there are many possible outcomes with respect to the legal proceedings, given the significant size of the claim, we think the proceedings may represent a share price overhang that could limit outperformance until the issue is resolved,” said UBS.

The broker cut its recommendation on the stock to “neutral” from “buy” and lowered its price target to $8.45 from $13.35 a share.

ASX banks to dump

ASX bank stocks are lagging the market today, but two in particularly are underperforming after being downgraded by Macquarie Group Ltd (ASX: MQG).

These are the National Australia Bank Ltd. (ASX: NAB) share price and Bendigo and Adelaide Bank Ltd (ASX: BEN) share price, which fell by nearly 2% each at the time of writing.

The broker cut its rating on NAB by two notches to “underperform” from “outperform” and downgraded Bendigo Bank to “underperform” from “neutral”.

Market expectations set too high

The bearish change of heart comes on the back of the broker’s review of impairment charges for the sector.

“With ~10-15% of consumer and SME loans being deferred, a weak economic outlook and challenges stemming from the recent lockdowns in Victoria contribute to material downside risk to bank earnings, in our view,” said Macquarie.

“We remain substantially below consensus, and with additional risks stemming from lockdowns in Victoria, which may extend to other states, we continue to see material downside risk to expectations.”

The broker’s price targets on NAB and Bendigo Bank are $17.50 and $6.25, respectively.

More reading

• Top brokers name 3 ASX 200 shares to buy today
• Why the Treasury Wine share price is sinking today
• Why Cochlear, NAB, Tabcorp, & Telstra shares are tumbling lower
• ASX marching higher despite COVID-19: Where should you invest?
• Why this ASX miner that’s missing the rally is one of my key picks for FY21

Motley Fool contributor Brendon Lau owns shares of National Australia Bank Ltd. and Macquarie Group Ltd. Connect with me on Twitter @brenlau.

The Motley Fool Australia owns shares of and has recommended Macquarie Group 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 Alterity Therapeutics Ltd (ASX: ATH) share price has continued its strong surge from yesterday, trading more than 50% higher again today.

Although the company has not released any price sensitive news, it can be assumed that the price leap is a reflection of yesterday’s news.

What did Alterity announce yesterday?

Alterity’s announcement yesterday highlighted independent data that confirmed the safety profile of the company’s lead drug candidate, ATH434. The animal study tested ATH434 against multiple system atrophy (MSA) and confirmed that the drug reduced alpha-synuclein pathology, preserved neurons and improved motor performance in patients with MSA.

Alterity will present the findings at the 2020 International Congress of Parkinson’s Disease and Movement Disorders and the American Neurological Association’s annual meeting. The company will also present cardiac safety data from its Phase 1 study of ATH434. This will be the first time that information is shared with international clinicians and researchers.

What is the outlook for Alterity?

Biotech company Alterity focuses on therapies for neurodegenerative diseases such as MSA, which is an atypical form of Parkinson’s disease that can lead to rapid motor degeneration and paralysis.

Alterity’s lead candidate, ATH434, is an orally bio-available, brain penetrant that’s designed to inhibit the accumulation of pathological proteins involved in neurodegeneration.

As a result, Alterity’s therapy has the potential to treat Parkinson’s disease and other atypical forms of the disease such as MSA.

According to Alterity’s management, there is an unmet medical need for new treatments for MSA with most symptoms of the disease remaining unaddressed by available drugs for Parkinson’s disease.

Alterity is now pursuing a global development strategy for the testing and commercialisation of the drug, after last month announcing it had established a development pathway for ATH434 in MSA with the US Food and Drug Administration.

The Alterity share price has surged more than 96% in the past 2 days, after rocketing a further 50% today. At the time of writing, the Alterity share price is trading near it’s intraday high of 7.2 cents.

More reading

• Alterity Therapeutics share price rockets 70% on new data
• Why Etherstack and these shares were the most traded on the ASX last week

Motley Fool contributor Nikhil Gangaram 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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