Marley Spoon AG (ASX: MMM) shares have been surging higher this year. The Marley Spoon share price has rocketed more than 900% higher since the start of the year to $2.84 per share.

Incredibly, Marley Spoon’s market capitalisation has jumped from $58.7 million to around $540 million at the time of writing.

That’s great for existing shareholders, but what about those of us that aren’t already in? Does the Marley Spoon share price have further to run?

Why the Marley Spoon share price has surged

The big one here is the coronavirus pandemic. COVID-19 has impacted many sectors negatively including travel, leisure, hospitality, retail and the arts.

However, the food delivery business has been soaring. More people across the globe are looking at alternative ways to access food. Door-to-door delivery services, like those offered by Marley Spoon, have provided a ready-made solution.

Demand for Marley Spoon’s services has been skyrocketing and that has seen the Marley Spoon share price follow suit.

The group’s results underline just how impressive FY20 has been for the German company.

Marley Spoon upgraded its full-year guidance to at least 70% revenue growth in 2020, up from an expected 30% previously. Quarterly revenue for its Australian arm rocketed 103% higher to 24 million euros (A$39.4 million).

Is there more growth ahead in 2021?

It’s hard to bet against an ASX share that has rocketed more than 900% higher in 9 months. I personally think we’ll see the company’s shares continue to climb into 2021.

That’s especially the case given surging COVID-19 case numbers across core markets in Europe and the United States. I do foresee slowing revenue growth in Australia though, as we settle into the ‘new normal’.

However, momentum is a powerful tool. That could propel the Marley Spoon share price to a new record high before the year is out.

Foolish takeaway

I think the problem is that I don’t see the long-term value play in the Marley Spoon share price. The company is perhaps a good short to medium-term hedge against the coronavirus pandemic impacts.

But longer term, there is a saturated market and perhaps a big drop-off in customer demand.

I won’t be buying in at $2.84 per share but I wouldn’t bet against it hitting the $3 mark in the near term either.

More reading

• The Marley Spoon (ASX:MMM) share price is down 29% in a month
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• Is the Domino’s share price too expensive?
• Why Splitit and these ASX shares just hit new highs

Motley Fool contributor Ken Hall 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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It has not been a positive day so far for investors, with the ASX market down following Wall Street’s losses overnight. The All Ordinaries Index (ASX: XAO) has dropped 1.3% to 6,059 points.

The Starpharma Holdings Limited (ASX: SPL) share price is no different, falling 5.3% to $1.52 at the time of writing. This is despite the company announcing an oversubscribed institutional placement today.

Oversubscribed placement details

Starpharma advised it had successfully raised $45 million via a placement to domestic and international institutional investors. The placement received strong demand from existing institutional shareholders. In addition, the company noted that it also saw new large domestic and international funds on the register.

A share purchase plan (SSP) will follow for eligible shareholders at the same offer price of $1.50 per share. It is expected the SSP will raise approximately $5 million.

The placement will result in the issue of 30 million new shares, bringing the company’s total issued capital to 402.8 million shares.

The new injection of funds will allow the company to advance its plans to fast-track the commercialisation and launch of its COVID-19 nasal spray. Starpharma will also seek to develop its Dendrimer Enhanced Product (DEP) candidates for future clinical trials.

Starpharma CEO, Dr Jackie Fairley was pleased with the result. She said:

The oversubscribed placement saw a high level of demand from offshore funds including large global and US-based funds. We appreciate the strong support from our current shareholders and are delighted to welcome several leading new institutional investors to the register.

Dr Fairley said the funds would enable Starpharma to expedite programs, including the novel SPL7013 COVID-19 nasal spray.

They will also allow the company to capitalise on value adding clinical combinations in our DEP portfolio and to advance development of a number of exciting DEP candidates across radiopharmaceuticals, ADCs and other therapeutic areas. Recent transactions, such as the Immunomedics acquisition by Gilead, illustrate the significant potential value of these areas.

About the Starpharma share price

The Starpharma share price moved higher since reporting its full-year results to the market in late August. The company is trading at 22% lower than its 52-week high of $1.95 achieved this month. With a market capitalisation of $559 million, Starpharma is in a strong position to rapidly grow its earnings if it can deliver on its targets.

More reading

• Why a2 Milk, BrainChip, Oil Search, & Starpharma shares are dropping lower
• Why Corp Travel Management (ASX:CTD) and Starpharma (ASX:SPL) shares are in trading halts
• Why the Paradigm (ASX:PAR) share price has rocketed 8% higher today
• ASX 200 Weekly Wrap: Bank shares push ASX 200 higher
• Village (ASX:VRL) share price edges lower after BGH takeover update

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

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Telstra Corporation Ltd (ASX: TLS) shares have come under pressure in recent weeks. Ever since the company posted its full-year results for the 2020 financial year last month, investors have been hitting the sell button on the Telstra share price. On current pricing, Telstra shares are now down more than 19% since 4 August.

But perhaps a new 5G product offering could change investors’ minds on Australia’s largest telco.

5G comes online

According to the Australian Financial Review (AFR), Telstra is set to launch a new ‘fixed wireless’ 5G internet offering, using the new generation technology to offer an alternative to the national broadband network (nbn). 

The ‘5G home Internet’ package is set to offer users a wireless modem similar to conventional fixed-line internet services. But rather than a physical fixed nbn connection, the connectivity is delivered over Telstra’s mobile network.

The AFR said the service would “offer download speeds of between 50 and 300 megabits per second for $85 a month, with a monthly data allowance of 500GB… the pricing and speeds mean it will offer similar value to the NBN’s 50 and 100 Mbps plans.”

Apparently, the new product will initially be ‘invitation only’. It will only be offered to customers living in areas where 5G network coverage is strong and there are only inferior fixed-line alternatives.

This is important because, under the agreement that Telstra made with the nbn, Telstra is not permitted to offer any service that directly competes with the nbn network. This was done so that Telstra would receive payments for each customer it lost to the nbn.

The AFR quotes Federal Communications Minister Paul Fletcher as stating that he was ‘confident’ the announced product wouldn’t violate this agreement.

Is Telstra a 5G buy today?

As an existing Telstra shareholder, I think this new product offering is a good development for the company. Existing nbn connection services are notoriously unprofitable for the retail on-sellers like Telstra. There’s barely any profit margin in them at all. If Telstra can attract customers with this 5G alternative (which would presumably carry far higher margins), it will be good news for its bottom line. Assuming Mr Fletcher is correct and it doesn’t violate the Telstra/nbn agreement of course.

Thus, I think Telstra shares are looking attractive today near the company’s 52-week low. At these prices, Telstra’s hefty 16 cents per share annual dividend also offers a yield of 5.69% (or 8.13% grossed-up with Telstra’s full franking credits).

More reading

• Is the TPG (ASX:TPG) share price a buy today?
• Are these high yield ASX dividend shares worth buying?
• ASX 200 Weekly Wrap: Bank shares push ASX 200 higher
• 2 high yield ASX blue chip dividend shares to buy next week
• 2 unloved ASX 200 shares I would buy now

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

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The Aristocrat Leisure Limited (ASX: ALL) share price has outperformed the struggling S&P/ASX 200 Index (ASX: XJO) to round out September 7.12% higher (at the time of writing). With an anticipated restart of poker machine venues in Australia and strong digital growth, could the Aristocrat share price be an ASX 200 growth share to add to your growth portfolio? 

FY20 performance 

Aristocrat’s strong digital performance in FY20 more than offset the COVID-19 related impacts across its land-based business. The company’s revenue increased 7% to $2.3 billion while net profit after tax fell 14.2% to $305.9 million. 

Aristocrat’s land-based electronic gaming machines performed in line with expectations through to mid-March, when all markets were adversely impacted by COVID-19 related customer venue shutdowns. The North American segment saw an increase in installed machines whilst maintaining an underlying fee per day charged against casinos. A phased approach to restarting its land-based operations is expected to occur on a location-by-location basis. The gradual reopening of these venues should see a progressive improvement in Aristocrat’s land-based earnings. 

The company’s digital segment revenues and bookings increased 19% driven by the introduction of new games. Meanwhile, the established franchises continued to perform well through the introduction of new content and features. The continued growth in its digital games could position the Aristocrat share price as a strong ASX 200 growth share moving forward amidst COVID-19. 

Resurgence in pokies

An article published by ABC last week highlights that Victorian gamblers have saved more than $1.3 billion in poker machine losses since the lockdown measures took place. However, there are concerns that people will binge on pokies when venues reopen. New South Wales reported an 8% increase in losses when venues reopened, while Queensland reported a 32% increase. 

Continued growth in iGaming and apps 

Aristocrat’s digital portfolio has been a key driver of its growth. The company noted a discernible uplift in the portfolio’s performance connected with COVID-19 stay-at-home orders, with April bookings increasing 20% against March. 

JPMorgan also remains confident that Aristocrat will enter the iGaming market in the United States. iGaming is defined as slot and table games using real-money stakes that are played online. The iGaming model is currently legal in six US states and could represent US$900 million in gross gaming revenue in just New Jersey alone. JPMorgan recently upgraded the Aristocrat share price to overweight and increased its price target to $38.60 from $28.50. 

Foolish takeaway

Aristocrat could see a recovery in its land-based business combined with the continued outperformance of its digital business. I believe the key catalyst for Aristocrat’s next leg up is its potential entry into the iGaming market in the US. This is a significant growth opportunity that could position the Aristocrat share price as a leading ASX 200 growth share. I believe investors should watch Aristocrat closely for any intentions to step into this space. 

More reading

• Top brokers name 3 ASX shares to buy next week
• 4 ASX shares rated as strong buys by brokers
• ASX shares to buy for post COVID-19 profits
• Why I would buy these ASX growth shares right now
• 5 quality ASX shares to buy in September

Motley Fool contributor Lina Lim 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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In early afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on course to record a sizeable decline. At the time of writing the benchmark index is down 0.8% to 5,903.3 points.

Four shares that have not let that hold them back are listed below. Here’s why they are charging higher:

The Corporate Travel Management Ltd (ASX: CTD) share price has stormed a massive 11% higher to $17.94. This morning the corporate travel company’s shares returned to trade following the completion of the institutional component of its entitlement offer. These funds will be used to acquire Travel & Transport for $274.5 million. Management is forecasting the acquisition to be approximately 30% earnings per share accretive post-synergies.

The Electro Optic Systems Hldg Ltd (ASX: EOS) share price is up 1.5% to $5.64. Investors have been buying the defence and aerospace company’s shares after it announced that it has concluded contract negotiations with the government. These negotiations have resulted in the government purchasing 251 Remote Weapon Stations and related materiel for a total of $94 million.

The Evolution Mining Ltd (ASX: EVN) share price is up 1% to $5.85. Investors have been buying Evolution and other gold miners on Wednesday after a rise in the spot gold price overnight. The precious metal was given a boost from the softening U.S. dollar. At the time of writing, the S&P/ASX All Ordinaries Gold index is up a decent 0.5%.

The Recce Pharmaceuticals Ltd (ASX: RCE) share price has jumped almost 9% to $1.20. This morning the pharmaceutical company revealed that it has entered into an agreement with the Murdoch Children’s Research Institute to conduct pre-clinical studies. These studies will assess the potential of RECCE 435 (R435) for the treatment of Helicobacter pylori (H. pylori) infections. Management notes that there is a global unmet medical need for the treatment of H. pylori with no first-line therapy curative in all patients.

More reading

• ASX 200 down 1.1%: Corp Travel Management surges higher, gold miners rise, Santos given approval
• Electro Optic Systems (ASX:EOS) share price surges higher on $94 million government contract
• Why you need to watch the Corporate Travel (ASX:CTD) share price today
• 5 things to watch on the ASX 200 on Wednesday
• ASX 200 ends the day flat, BOQ (ASX:BOQ) shares drop on impairments

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 Electro Optic Systems Holdings Limited. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. The Motley Fool Australia has recommended Electro Optic Systems Holdings Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The best performing fund managers took two specific actions in February and March of this year. Towards the end of February, if they were paying attention, they were selling down low liquidity small cap ASX shares. After the COVID-19 market rout on 23 March, they started to pounce on mispricing opportunities.  Here are 5 great ASX shares that major fund managers have made a lot of money on this year.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

This company is held by listed companies (LIC) WAM Capital Limited (ASX: WAM), and Australian Foundation Investment Co.Ltd (ASX: AFI). Fisher and Paykel is up by 46.21% in year to date trading. This ASX share saw revenues increase dramatically due to the ventilator demand from March to combat the coronavirus.  Currently, the company is building additional manufacturing capabilities to continue to support COVID-19 requirements. 

Temple & Webster Group Ltd (ASX: TPW)

Held by WAM Capital, this company has seen its share price rise by 356.44% in year to date trading. Temple & Webster has benefited greatly by the rapid move to online shopping as everyone went into lockdown. Moreover, consumers have redirected disposable income to home spending. Consequently, I think this ASX share remains a good opportunity for the foreseeable future as people continue to shop online.

Brickworks Limited (ASX: BKW)

ASX share Brickworks is held by the LICs WAM Capital and Milton Corporation Limited (ASX: MLT). Despite fierce pressure on revenue in the United States and Australia, this company has managed to increase its share price by 5.2% in year to date trading. At this price it also pays a trailing 12-month dividend yield of 3.03%. Moreover, I think that Australia’s leading brick maker is likely to benefit from reducing the constraints imposed by responsible lending laws over the remainder of FY21. 

Eagers Automotive Ltd (ASX: APE)

The same two LICs also have sizable investments in Eagers Automotive, the car sales company. Despite the lockdown, the ASX share price for this company is down by more than 6% in year to date trading. However, it has raised from the market low point, on 23 March, by 204.26%. This shows the strength of looking for mispricing opportunities in the market. Every time the market rises or falls in unison, there are opportunities to make profits. Moreover, Eagers is also likely to benefit from any loosening of responsible lending laws.

Bapcor Ltd (ASX: BAP)

In keeping with the automotive theme, Bapcor has also seen its share price rise by 7.37% in year to date trading despite the pandemic lockdown. Held by WAM Capital, Bapcor has already started to see revenues rise as people become more mobile. Bapcor is likely to see further gains as borders open more and people start spending more time on national holidays. I think this ASX share is set to see additional growth over the next few months. At a current price to earnings (P/E) ratio of 25.51, I believe it is well-priced for future growth.

More reading

• 3 ASX 200 passive investing shares to buy today
• These are the ASX blue chip shares I’d buy today
• Is the WAM Capital (ASX:WAM) 10% dividend yield sustainable?
• 3 ASX shares making all-time highs today
• 2 outstanding ASX shares to add to your retirement portfolio

Daryl Mather has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Temple & Webster Group Ltd. The Motley Fool Australia owns shares of and has recommended Bapcor and Brickworks. The Motley Fool Australia has recommended 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.

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At lunch on Wednesday the S&P/ASX 200 Index (ASX: XJO) has followed the lead of U.S. markets and is dropping lower. At the time of writing, the benchmark index is down a disappointing 1.1% to 5,884.9 points.

Here’s what has been happening on the market today:

Corporate Travel Management charges higher.

The Corporate Travel Management Ltd (ASX: CTD) share price has returned from its trading halt and is charging higher. This morning the corporate travel company completed the institutional component of its entitlement offer. These funds will be used to acquire Travel & Transport for $274.5 million. Management is forecasting the acquisition to be approximately 30% earnings per share accretive post-synergies.

Gold miners push higher

One area of the market which is performing positively today is the gold sector. The likes of Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) have all pushed higher after another rise in the spot gold price. This was driven by the further softening of the U.S. dollar and stimulus optimism. The S&P/ASX All Ordinaries Gold index is up 0.4% at the time of writing.

Santos given approval.

The Santos Ltd (ASX: STO) share price is dropping lower today despite news of a positive development. This morning the New South Wales Independent Planning Commission gave the green light to the Narrabri Gas Project with conditions. Santos has accepted the conditions proposed and will now work with the Federal Department of Agriculture, Water and Environment as it considers its recommendation to the Minister on EPBC Act approval.

Best and worst ASX 200 shares.

The best performer on the ASX 200 on Wednesday has been the Corporate Travel Management share price with an 11% gain following the completion of its institutional placement. The worst performer has been the Pendal Group Ltd (ASX: PDL) share price with a decline of over 5%. This may be due to concerns over a sharp rise in COVID cases in the UK.

More reading

• Why Corp Travel Management, EOS, Evolution, & Recce shares are charging higher
• Santos (ASX:STO) share price on watch after Narrabri Gas Project approval
• Why the Jumbo (ASX:JIN) share price is moving higher today
• Why the Afterpay (ASX:APT) share price has further to run
• 3 ASX 200 passive investing shares to buy today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management 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 Santos Ltd (ASX: STO) share price is in a trading halt after gaining a key approval for a major gas project.

What’s the latest update?

The New South Wales Independent Planning Commission (IPC) has given Santos the green light for its controversial Narrabri Gas Project.

While activists have indicated further appeals may be on the way, Santos said it “accepts the conditions proposed by the IPC”.

The Aussie energy group will now work with the Federal Government to gain Environmental Protection and Biodiversity Conservation (EPBC) Act approval.

Santos estimates the project has the potential to meet up to half of NSW’s natural gas demand.

The approval is good news for the Santos share price which remains in a trading halt following the news.

Where is the Santos share price headed?

The Aussie energy share is one to watch when it returns to the boards given the good news of the approval but bad news for oil prices.

ASX oil stocks have been smashed this morning as oil prices continue to plummet. Increasing coronavirus cases in Europe and around the globe have prompted fears of further shutdowns.

That’s bad news for industries like manufacturing and travel, which are traditionally high energy consumers.

The Woodside Petroleum Limited (ASX: WPL) share price has fallen 2.5% lower this morning while Oil Search Limited (ASX: OSH) shares are down 2.3%. That means the Santos share price could be tracking them lower when it returns to the boards this week.

The Narrabri approval does represent a big stride forward for Santos. The company is now well-positioned to take a significant stake in the NSW gas market.

Foolish takeaway

The Santos share price will be one to watch when it recommences trading on the ASX.

Investors will be weighing up the importance of the Narrabri Gas Project approval against the broader weakness in ASX oil shares.

More reading

• ASX 200 down 1.1%: Corp Travel Management surges higher, gold miners rise, Santos given approval
• Why a2 Milk, BrainChip, Oil Search, & Starpharma shares are dropping lower
• Why the Jumbo (ASX:JIN) share price is moving higher today
• Why the Afterpay (ASX:APT) share price has further to run
• 3 ASX 200 passive investing shares to buy today

Motley Fool contributor Ken Hall 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 S&P/ASX 200 Index (ASX: XJO) has come under pressure on Wednesday and is on course to record a sizeable decline. The benchmark index is down 1.15% to 5,883.1 points in late morning trade.

Four shares that have fallen more than most today are listed below. Here’s why they are dropping lower:

The A2 Milk Company Ltd (ASX: A2M) share price has dropped lower again and is down 2% to $14.28. Investors have been selling the infant formula and fresh milk company’s shares since its disappointing update earlier this week. One broker that wasn’t impressed is Citi. It has retained its sell rating and cut its price target to $14.20 amid concerns that daigou weakness could persist for longer.

The BrainChip Holdings Ltd (ASX: BRN) share price is down 8% to 34 cents. This latest decline means the artificial intelligence technology company’s shares are now down 65% over the last three weeks. Investors appear to now recognise that BrainChip’s shares were vastly overvalued after an incredible share price gain in 2020. At one stage BrainChip’s market capitalisation was well over $1 billion.

The Oil Search Limited (ASX: OSH) share price has fallen 3% to $2.71. Investors have been selling this energy producer’s shares after oil prices sank lower overnight. The catalyst for the pullback in oil prices was concerns over rising coronavirus cases and the impact this could have on demand.  

The Starpharma Holdings Limited (ASX: SPL) share price has fallen 6.5% to $1.50. This morning the dendrimer products developer’s shares returned from a trading halt after successfully completing a $45 million institutional placement. These funds were raised at $1.50 per new share and will be used primarily to support the development of a COVID-19 nasal spray. The remainder will be used to support the development of multiple, high-value DEP clinical assets, and DEP pipeline expansion.

More reading

• Santos (ASX:STO) share price on watch after Narrabri Gas Project approval
• Could the Bubs (ASX:BUB) share price be an A2 Milk (ASX:A2M) contender? 
• The BrainChip (ASX:BRN) share price is down 65% in just three weeks
• Why ASX oil stock prices are set to slide this morning
• These are the ASX blue chip shares I’d buy today

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 Starpharma Holdings Limited. The Motley Fool Australia owns shares of A2 Milk. The Motley Fool Australia has recommended Starpharma Holdings Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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