• Core Lithium share price leaps 9% as results catch short sellers by surprise

    Female miner standing smiling in a mine.

    The Core Lithium Ltd (ASX: CXO) share price is soaring higher today.

    Shares in the All Ordinaries Index (ASX: XAO) lithium stock closed Friday trading for 9.1 cents. In morning trade on Monday, shares are swapping hands for 9.9 cents apiece, up 8.8%.

    For some context, the All Ordinaries Index (ASX: XAO) is down 0.2% at this time.

    This outperformance follows the release of the lithium miner’s preliminary results for FY 2024, which caught a raft of short sellers wrong-footed today.

    Here’s what the company just reported.

    Why is the Core Lithium share price surging?

    Investors are bidding up the Core Lithium share price on Monday after the company revealed it had exceeded its FY 2024 production guidance. Over the 12 months, Core produced 95,020 dry metric tonnes (dmt) of spodumene concentrate and shipped 97,423 dmt.

    That tops management’s revised guidance of 90,000dmt-95,000dmt of production. And the spodumene concentrate sales exceeded revised guidance of 80,000dmt-90,000dmt.

    This was aided by the quarter just past, which saw record shipments of spodumene concentrate of 33,027 dmt, atop of 19,771 dmt of lithium fines.

    Lithium fines sales in FY 2024 came in at 66,140 dmt.

    And the balance sheets took a turn for the better, with Core Lithium reporting an unaudited cash balance of $87.6 million at 30 June, up from $80.4 million at the end of March. The company has no debt.

    The miner said it will now pause its Finniss operations, with restart assessments currently underway. It will now prioritise the safe preservation of the Finniss assets in a restart ready state.

    Core is also preparing to commence drilling programs at Shoobridge, Finniss and Napperby. Results of that drilling campaign are expected in the coming months.

    What did management say?

    Commenting on the results sending the Core Lithium share price soaring today, CEO Paul Brown said, “I would like to commend the team on the operational performance in FY24, particularly the safe and orderly cessation of production activities at Finniss while achieving record production and shipments.”

    Brown added:

    Our commitment is to judiciously protect our balance sheet by reducing costs across the organisation and making prudent investments in our assets where we believe it can grow shareholder value.

    Central to this is putting Finniss in a position where operations can rapidly resume with minimal capital. This would only occur when we are confident the lithium market conditions support such a decision.

    Our strategic focus will be on making Finniss a more robust operation in the future, and exploration is a key enabler of this.

    In FY 2025, we will be drill testing priority targets around Finniss, potentially adding meaningful life to future lithium mining operations. We will also be advancing earlier stage, low multi-commodity exploration activities within our Northern Territory landholding to demonstrate the value in these projects.

    Our business will stay agile and prepared for future opportunities, both within the company and externally, as they arise.

    Core Lithium share price snapshot

    Despite today’s bounce, the Core Lithium share price remains down 89% over 12 months.

    The post Core Lithium share price leaps 9% as results catch short sellers by surprise appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Core Lithium Ltd right now?

    Before you buy Core Lithium Ltd shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Core Lithium Ltd wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • A 5-day vacation in Bali 13 years ago changed his entire career plan. Now, he’s married with 2 kids and calls the island home.

    A lounge chair is positioned in front of glass doors that overlook the pool.
    Glass doors let natural light into the home.

    • Simen Platou fell in love with Bali, Indonesia, during a 5-day vacation.
    • Those days stretched into 6 months, and eventually, he decided the island was where he wanted to live.
    • It's been 13 years since he left Norway, and he doesn't think he'll move back anytime soon.

    It's been 13 years since Simen Platou moved to Bali from Norway, and he remembers his first visit to the Indonesian island clearly.

    Back then, he was doing an internship in Vietnam, and a group of Indonesian couch surfers who were living with him planted the idea of visiting Bali in his head.

    Intrigued by their stories, Platou decided he wanted to see the island for himself. A week before he was due to depart for Bali, Platou realized he wasn't enjoying his internship at all.

    So he quit, hopped on the flight, and never looked back.

    A man, woman, and two kids smiling for the camera.
    Simen Platou with his wife Jennifer and their two kids.

    "It was before social media and everything, I didn't know anything about Bali at all. I had never seen a picture of Bali. I didn't know that Westerners even lived here," Platou, 38, told Business Insider. "But when I realized that it was a possibility, it just completely changed my whole outlook."

    What was meant to be a five-day vacation stretched into six months. Platou then returned to Norway to start his master's degree in finance, sticking to the original plan he had set for himself.

    But after six months in Norway, the allure of Bali was too hard to resist, and Platou never did complete his master's.

    "I decided I wanted to be here in Bali instead," he added.

    Finding a place in Bali

    A view of the pool and the exterior of a villa as viewed from the second floor.
    The exterior of the villa.

    When Platou first started living in Bali in 2011, he stayed in a communal home in Kuta, a region near the south of the island. Known for its surf scene, Kuta was also one of the first tourist developments in Bali.

    "I had a fan and a shared bathroom with four other people," Platou said. He said he paid 1 million Indonesian rupiah, or $60, a month for the room.

    In 2014, as other parts of Bali slowly developed, Platou moved further north to Kerobokan — an area sandwiched between Seminyak and Canggu — where he still lives, now with his wife and two kids.

    The sofa takes prime position in the living room.
    The sofa in the living area.

    His three-bedroom house is a leasehold property on a 20-year lease.

    He first leased it for two years at 170 million Indonesian rupiah, before renewing his lease for another two years at the same amount. He's since extended his lease for another 15 years — until 2034 — at 370 million Indonesian rupiah for every five years.

    This averages out to 6.04 million rupiah, or about $370, a month.

    Platou's two-story villa is tucked away in a quiet street, next to three other villas owned by the same landlord.

    The open-plan living and dining area.
    The open-plan living and dining area.

    On the first floor, there's an open-plan living and dining area, a kitchen, and a home office. Upstairs, there's a TV room and two bedrooms.

    "One is meant to be the kids' bedroom while the other is supposed to be my and my wife's room, but now I'm sleeping with my daughter, and my wife is sleeping with my son," Platou said.

    The wooden table sits six.
    The dining table.

    The property was brand new when he moved in, but it's been renovated twice over the past few years in order to accommodate his growing family.

    "When I moved in, I never thought that I was going to have a family here and everything, so we kind of done it as we've gone along," he said.

    The baby fence around the pool and the new doors that close in their first-floor living space are fairly new additions.

    A lounge chair by the kitchen counter.
    A lounge chair by the kitchen counter.

    "Before that, we had no AC in here," Platou added.

    The house wasn't built with the best materials, which caused things in the house to deteriorate quickly, he said.

    Even though he doesn't own the property, Platou says that he's paid for everything that he's changed — from the water pump to the kitchen — out of pocket.

    A white sofa sits in the living room on the upper floor of their villa.
    A sofa on the upper floor of their villa.

    "I am OK with that because I spend so much time here and because I've locked in the rent so early that it's relatively cheap, so it's still worth it," he said.

    Although he has another 10 years left on his lease, he's hoping to build a new house elsewhere for his family soon.

    Embracing a slower pace of life

    Platou's done a lot of different things since he moved to Bali, from starting his own clothing business to doing marketing for insurance companies.

    The kids' room is colorful and filled with murals.
    The kids' room.

    In the past couple of years, Platou's been investing in real estate. He's currently completing two holiday villa rentals in Pererenan, near Canggu.

    As an entrepreneur, Platou says he loves the flexibility in Bali.

    "I work for myself, and I can work whenever I want to, but the best thing about Bali is that everyone else does it too," Platou said. This is different from what life was like in Norway.

    A bed by the kids' sleeping area.
    Platou and his wife sleep with their kids.

    "With my work hours in Norway, I wouldn't have anyone to hang out with," Platou said. "Even when I go there in the summer, the friends that don't have vacation, we can't meet up — it doesn't matter that I have time off. But here, everyone has similar schedules so it's easy to gather."

    It's also easy for him to meet new people who have similar interests.

    "Moving here as an adult, I think it would be easy as long as you put yourself out there a little bit," Platou said. "I feel like here, if you want to meet people, you'll meet people."

    One of the bathrooms in the house.
    One of the bathrooms in the house.

    It also helps that the expat community in Bali is large, Platou said that many others he's met along the way have the same attitude toward making friends and letting new people in.

    Like many locals, Platou has a motorbike that he uses to get around the island quickly. And it's another contributor to his social life.

    "If I'm going to meet up with a friend, it's easy for me to go anywhere. In Norway, it's like I have to check what time the metro runs and how far the walk is on each side," he said.

    The pool.
    There's a child fence around the pool.

    But the best part of Bali has, by far, been the people, he said.

    "I've always experienced people's willingness to help," Platou said. "When I first started my clothing line here, I didn't know anything about production or design. But all the people I met were just so helpful. They took me to factories, showed me how to do it, and let me sell stuff in their stores. I think in other places people would probably be a bit more competitive."

    Bali is continuing to change

    Platou has a word of caution for those who want to move to Bali. Because of how quickly the island is developing, it may look and feel different from what people expect.

    "You have to be a little bit mindful of your long-term plans. So don't build a villa rice field view because it could be gone in six months.

    Lastly, the island has more to offer than popular tourist spots such as Canggu and Seminyak, he said.

    "I think a lot of people when they come here, expect the tropical life but end up moving to what is now a semi-city," Platou added.

    Have you recently built or renovated your dream home? If you've got a story to share, get in touch with me at agoh@businessinsider.com.

    Read the original article on Business Insider
  • Could this ASX dividend share offer a huge 11% yield in 2026?

    A strong female athlete powers up as she runs and leaps into the air.

    Accent Group Ltd (ASX: AX1) is a leading shoe retailer, but it’s also usually an impressive ASX dividend share. In 2026, it’s projected to have a very large dividend yield.

    This business acts as the distributor for a number of global shoe brands including Vans, Hoka, Kappa, Skechers, Herschel, Sebago, Merrell, CAT, Saucony, Dr Martens, Palladium, Ugg, Autry, Superga and Timberland.

    It also owns several businesses, including The Athlete’s Foot, Nude Lucy, Article One, Stylerunner, Lulu and Rose, Platypus, Glue Store, and Hype.

    Due to its retail nature, the business usually trades on a relatively low price/earnings (P/E) ratio, which can enable a fairly high dividend yield.

    Huge projected dividend yield

    Accent’s FY24 result may show some disappointing year-over-year profit numbers because of the weak consumer environment at the moment. Households don’t have as much to spend at the moment because of high interest rates, high rent and inflation of other costs.

    However, conditions could start improving in FY25 and rebound in FY26, according to the projections on Commsec.

    The ASX dividend share is predicted to pay an annual dividend per share of 12.2 cents in FY24. That’d be a grossed-up dividend yield of 9.4%.

    In 2025, owners of Accent shares could receive a dividend per share of 13.5 cents. If that projection comes true, it will equate to a grossed-up dividend yield of 10.4%.

    Then, in 2026, the company could pay an annual dividend per share of 15 cents. Incredibly, that implies a possible grossed-up dividend yield of 11.5%. There aren’t many S&P/ASX 300 Index (ASX: XKO) shares that are projected to pay a dividend yield of more than 10% in FY26.

    Can the ASX dividend share’s earnings grow?

    FY24 is likely to be a fairly weak report, but I think there could be positives to focus on regarding the future.

    Australian inflation has reduced compared to last year, which could mean that Accent’s costs, like rent and wages, stop increasing as fast in FY25 and FY26.

    One of the main drivers of Accent’s earnings for the foreseeable future is its ongoing store rollout. It reached 888 stores in the FY24 first half and planned to open at least 20 new stores in the second half of FY24.

    The company sees a continued store rollout opportunity “in both its core banners and new businesses.” The ASX dividend share also believes there is a “significant growth opportunity” with its online sales as well.

    Pleasingly, the underlying gross profit margin continues to improve, which can support the other profit margin levels.

    Another positive for Accent is that its total ‘owned’ sales in the year to date to the end of January were up 1.6%.

    According to the estimate on Commsec, the Accent share price is valued at just 11x FY26’s estimated earnings.

    The post Could this ASX dividend share offer a huge 11% yield in 2026? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Accent Group Limited right now?

    Before you buy Accent Group Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Accent Group Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor Tristan Harrison has positions in Accent Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Zip shares FY24 recap: Up 256%, what’s next for FY25?

    A young woman smiles as she rides a zip line high above the trees.

    Zip Co Ltd (ASX: ZIP) shares wrapped up FY24 on a high. Over the 12 months to June 28 2024, shares in the buy now, pay later (BNPL) stock soared 256% into the green.

    The benchmark S&P/ASX 200 index (ASX: XJO) didn’t even come close to that result.

    Investors are eager to know what the future holds for the BNPL player. Especially as gains have continued into the new financial year.

    Let’s dive into the factors driving the recent performance and explore the expert outlook for FY25.

    Why are Zip shares soaring?

    Zip share price performance was impressive through the COVID-19 pandemic years. Investors sent the stock on a meteoric rise to an all-time high of $12.35 per share in February 2021.

    They plunged not long after, wiping billions in market capitalisation from the company’s value. The selling continued until October last year when investors returned to buy Zip shares at lows of 25.5 cents per share.

    Fast forward to today, and Zip shares have rebounded to their current price of $1.65.

    Zip’s business performance under new management has been a major driver of its stock price recently. The company shifted from an aggressive growth strategy to a more sustainable, profitable model, garnering positive sentiment from investors.

    Tyndall Asset Management’s James Nguyen highlighted this transformation as a key differentiator from its BNPL peers. Speaking to The Australian Financial Review, Nguyen said:

    [Zip] was previously a market darling, capitalised at over $6 billion despite reporting losses of more than $200 million per annum. Higher interest rates, loose credit leading to high bad debts, and a weaker consumer resulted in significant shareholder value losses.

    While the macro environment is now more supportive, it is the company-specific turnaround under new management that sets Zip apart from its BNPL counterparts. Growth for growth’s sake has been abandoned, as has its international domination aspirations, and in place is a sustainable, profitable growth strategy.

    Nguyen says Zip’s focus on profitability over growth for growth’s sake is paying off. Within 18 months, the company expects to earn nearly $100 million in earnings before interest, tax, depreciation, and amortisation (EBITDA).

    Additionally, Apple Inc.’s (NASDAQ: AAPL) decision to cancel its BNPL service in the United States, Apple Pay Later, appears to have increased investor confidence. This reduction in competition could help Zip increase its market share in the lucrative American market.

    What’s next for Zip shares in FY25?

    UBS and Ord Minnett both maintain buy ratings for Zip shares, setting price targets of $1.55 apiece, respectively.

    According to CommSec, the stock is rated a buy from consensus. Out of the seven firms covering Zip, five rate it a buy directly, four say it’s a hold, and one firm rates it a sell.

    Looking ahead, Zip’s ability to maintain its profitability focus while growing market share will be crucial, in my view.

    One key area to monitor is Zip’s performance in the US market, where it has shown significant growth. Apple’s decision to withdraw from the BNPL race could be a tailwind.

    Setting context for this, in its most recent quarterly results, Zip reported a 14.6% year-on-year increase in transaction volume to $2.4 billion despite a 3% rise in active customers to 6 million.

    But US revenues were up more than 49% to US$74.3 million, underscored by a 43% growth in transaction volume there.

    Foolish takeaway

    Zip shares have delivered stellar gains in FY24, locking in triple-digit gains for the year.

    As the company continues its transformation under new management, the outlook for FY25 remains promising but requires careful monitoring. As always, remember to conduct your own due diligence.

    The post Zip shares FY24 recap: Up 256%, what’s next for FY25? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Zip Co right now?

    Before you buy Zip Co shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Zip Co wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Zip Co. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • 2 ASX 200 gold stocks racing higher on record results

    A number of ASX 200 gold stocks are pushing higher on Monday. This has led to the S&P/ASX All Ords Gold index rising by an impressive 1.7% in morning trade.

    This catalyst for this has been a solid rise in the gold price on Friday night amid interest rate cut hopes.

    In addition, a couple of updates have given the shareholders of two ASX 200 gold stocks a reason to smile today. Let’s dig a little deeper into these updates now:

    Ramelius Resources Ltd (ASX: RMS)

    The Ramelius share price is up 3.5% to $1.98. This morning, this ASX 200 gold stock revealed that it achieved a production record of 293,033 ounces for FY 2024. This means that it has hit the upper end of its upgraded guidance of 285,000 to 295,000 ounces.

    Another positive is that management expects its full year all-in sustaining costs (AISC) to be at the lower end of its upgraded guidance range of A$1,550 to A$1,650 per ounce.

    This underpinned total free cash flow of A$315.8 million for the 12 months, boosting its cash and gold balance to A$446.6 million. The latter is up from a balance of $272.1 million at the end of FY 2023.

    Regis Resources Ltd (ASX: RRL)

    The Regis Resources share price is up 6.5% to $1.89. Investors have been buying this ASX 200 gold stock after it released its fourth quarter update.

    During the quarter, the operational performance across its Duketon and Tropicana operations continued to recover from the major rain events that occurred in March. This led to Duketon producing 75,600 ounces of gold, resulting in FY 2024 gold production of 289,900 ounces. This is within its FY 2024 production guidance range.

    Tropicana, which management notes experienced more significant impacts from the rain, has had a slower recovery. It produced 30,800 ounces of gold, resulting in FY 2024 gold production of 127,800 ounces. This was below its FY 2024 production guidance range.

    Nevertheless, this couldn’t stop the gold miner from achieving production of 417,700 ounces of gold for the year. This was within its group production guidance range for the year.

    And with Regis Resources now fully unhedged and receiving a $20 million tax refund, it reported a record $109 million increase in its quarterly cash and bullion balance. At the end of the period, its cash and bullion balance was at its highest ever level of $295 million.

    The post 2 ASX 200 gold stocks racing higher on record results appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Ramelius Resources Limited right now?

    Before you buy Ramelius Resources Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Ramelius Resources Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Guess which ASX mining stock is rocketing 65% on takeover deal

    The market may be having a subdued start to the week, but that hasn’t stopped one ASX mining stock from rocketing higher today.

    At the time of writing, Rex Minerals Ltd (ASX: RXM) shares are up 65% to 45.5 cents.

    Why is this ASX mining stock rocketing?

    Investors have been scrambling to get hold of the copper and gold developer’s shares after it received and accepted a takeover offer.

    According to the release, Rex Minerals has entered into a scheme implementation deed with MACH Metals Australia.

    Under the scheme, it is proposed that MACH will acquire all of the shares in Rex Minerals which it does not already own for cash consideration of 47 cents per share. This represents a 71% premium to where the ASX mining stock ended last week and values the company at $393 million.

    The release notes that the MACH offer was received following a competitive global partnering process. This process was focused on the $854 million funding and subsequent development pathway for the Hillside Copper-Gold Project in South Australia.

    The Rex Minerals board carefully assessed the offer against a range of other alternatives. After taking into account the risks and potential ownership dilution associated with a stand-alone development of Hillside, it decided the offer was the superior option.

    As a result, the ASX mining stock’s board unanimously recommends that shareholders support the transaction by voting in favour of it. This is in the absence of a superior proposal and subject to the independent expert’s report.

    ‘Significant premium’

    Rex Minerals’ CEO and managing director, Richard Laufmann, said:

    The Transaction provides certainty of value and a significant premium representing a 98% uplift relative to Rex’s 90-day VWAP, as well as the opportunity for Rex shareholders to realise their investment at a 10-year historical share price high. This Transaction also represents a more certain outcome for wider stakeholders in Hillside, including the local community, the South Australian Government and Rex employees who will benefit from the significant financial strength and proven track record of MACH to deliver the successful development of Hillside.

    The South Australian Government has been a leader in Australia in support of decarbonisation and copper development. The successful development of Hillside will very much align with their strategy. Subject to approvals, we look forward to working with MACH through to completion and watching them develop the Hillside Project, Australia’s largest fully permitted and shovel ready copper project.

    The post Guess which ASX mining stock is rocketing 65% on takeover deal appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Rex Minerals Limited right now?

    Before you buy Rex Minerals Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Rex Minerals Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Why I’m bullish about this exciting ASX small-cap share

    A man in a business suit holding a baby conducts a task on his phone

    The ASX small-cap share section of the market is full of stocks with the potential to deliver good returns. An ASX tech small cap with a compelling future is particularly exciting because it can deliver higher profit margins.

    One such company is Airtasker Ltd (ASX: ART). It claims to be Australia’s leading online marketplace for local services, connecting people and businesses that need work done with people who want to work.

    Airtasker shares have been trending higher in the last couple of weeks, as shown in the chart above. I believe there is plenty more to come over the long term.

    High gross profit margin

    Airtasker has an enormous gross profit margin of more than 90%, which means that almost all of its revenue turns into usable gross profit. With gross profit, the business can spend on growth activities such as advertising and development while also potentially achieving stronger cash flow and better earnings before interest, tax, depreciation and amortisation (EBITDA) margin.

    The business is now achieving profit rather than losses, which is an important milestone.

    In the third quarter, Airtasker achieved a positive free cash flow of $2.5 million, an improvement of $5.1 million year over year. The group EBITDA was $0.6 million in the third quarter, up $1.5 million compared to the prior corresponding period.

    Thanks to growing scale benefits, I think the cash flow margin and EBITDA margin can significantly increase in the coming years.

    Strong revenue growth

    With good margins, the ASX small-cap share just needs to grow its revenue to deliver good financial progress.

    The business revealed its group revenue was $12.2 million in the third quarter of FY24, with Airtasker marketplace revenue growing by 11.5% to $10.1 million.

    The company said the revenue growth was driven by a “recovery in consumer demand (posted tasks) from the prior year as well as successful funnel optimisation programs, including a revised cancellation policy designed to improve platform reliability and address task leakage.”

    Those programs saw cancellations reduce by 23.9% year over year, resulting in the ‘monetisation rate’ improving by 12.8% year over year to 20.5% for the ASX small-cap share.

    Airtasker recently made agreements with media businesses oOh!Media Ltd (ASX: OML) and ARN Media Ltd (ASX: A1N) for $11 million to grow its brand awareness.

    Large addressable market

    Users can advertise almost any task on Airtasker, including removalists, home cleaning, furniture assembly, deliveries, gardening and landscaping, painting and other handyperson work, business and admin, photography, and many more. There are many categories with a high annual value of work.

    Airtasker is growing rapidly in the United Kingdom — a much bigger market than Australia — partly thanks to its partnership with Channel 4. In the FY24 third quarter, UK posted tasks increased by 49.1% year over year.

    It has a smaller presence in the United States, but it’s growing there too. FY24 US gross marketplace value (GMV) went up 23% from a small base. It’s seeing “healthy growth” in marketplace activity while “maintaining a disciplined approach to investment” as it explores “several media partnership opportunities.”

    I think the international growth could power this ASX small-cap share much higher.

    The post Why I’m bullish about this exciting ASX small-cap share appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Arn Media right now?

    Before you buy Arn Media shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Arn Media wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Airtasker. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • A career coach reviewed the 10-year-old résumé that got him into Google. He would make three changes today.

    Anthony Mays
    Anthony Mays got hooked on computers and coding when he was seven.

    • Anthony Mays landed a job at Google in 2013 after a previous failed interview attempt.
    • Mays started coding at seven and had a bank programming job in high school and college.
    • He now runs a tech career consultancy and advises on impactful résumé writing strategies.

    Anthony Mays was first introduced to coding when he was seven, playing with a toy computer.

    "I was very attracted to the idea that I could make things and that I could own the things that I make," Mays told Business Insider.

    While still in high school, he got his first job as a programmer analyst for a local bank.

    He continued to intern at the bank every summer in college and landed his first full time job there after graduating from the University of California, Irvine, in 2006.

    Mays worked at the bank for another four years before transitioning to two other companies.

    In 2011, Mays interviewed at Google but failed a technical interview round because, he said, he did not prepare for the right topics.

    "I ended up trying again a couple of years later after Google reached out three times," he said. "I was able to succeed in 2013."

    This is the résumé that Mays used during his successful Google application. BI has verified his employment history.

    Anthony Mays' 2013 resume
    Anthony Mays' 2013 resume

    After an eight-year stint at Google, Mays left the company to start his own tech career consultancy.

    Looking back on his 2013 résumé, the career coach said there were three things he likes and three things he would change if he were to re-write the document today.

    Here is what he would keep the same:

    1. Separate skills section: "One thing that I thought was super useful was having those skills and languages along the right side," he said about the second column of his résumé. "It seems like there's a lot more stuff that I know just because it takes up a lot of vertical real estate." This layout also helped people quickly get to the experience section.
    2. Why before the how: Mays liked that the résumé emphasized the impact he created. "If I can convince somebody that what I did was important, then they'll want to know how I did it." For example, he added that his enhancements increased the speed of deployment by 50%. Then, "I tell you how I did it — I did that by using zip compression tools and algorithms."
    3. Simplify jargon: For technical jargon like names of software, Mays was careful not to assume that everyone reading his resume would know what some abbreviations mean. Just like formal writing, he uses the full names for each of those software on first mention, and use short forms after that. "You have to know your industry to know when it is appropriate to rely on an abbreviation versus not."

    Here are the changes he would make:

    1. More numbers: To better show impact, Mays would include more datapoints about the impact of his work. For example, he worked on a project to support a system for an e-commerce platform. For a big sales day like Black Friday, he would have highlighted how many thousands of people used the website per second to show the scale he was working at.
    2. Professional summary: Mays said that his 2013 résumé also lacked a professional summary. "Ultimately, a résumé is going to tell a story, and it's your job as the storyteller to make that narrative as easy to understand for someone who's only going to look at your résumé for maybe five seconds." The summary should say why you're the perfect person for the role, he said. In his latest résumé, Mays added three lines summarizing his roles, what he is passionate about and how he wants to add value to businesses.
    3. Business impact: Mays recommends his clients follow a "résumé formula" that looks like "I accomplished X as measured by Y, doing Z." But for his own resume, he thinks he could have followed it better. For some of his bullet points, Mays talked about how he achieved something, but left out what impact his technology created on the company. "The business context is missing from that bullet point."

    Mays worked at Google's Irvine, California, office as a software engineer until 2022. He left to become an interview coach and public speaker.

    Do you work in tech, consulting, or finance and have a story to share about your career journey? Please get in touch: shubhangigoel@insider.com

    Read the original article on Business Insider
  • Democrats will be defending a slim Senate majority in 2024. Here’s a look at the states where both parties are fighting for control of the chamber.

    Jon Tester
    Sen. Jon Tester of Montana is running in one of the most competitive races in the country.

    • The 2024 Senate elections — which will run concurrent with the presidential race — are approaching.
    • Democrats will have to defend several vulnerable incumbents in swing and GOP-heavy states.
    • However, the party has held their own in the last three cycles in navigating tough Senate races.

    In the 2022 midterm elections, Democrats defied political expectations by holding on to their Senate majority, with every incumbent securing reelection and then-Pennsylvania Lt. Gov. John Fetterman flipping the open seat being vacated by retiring Republican Sen. Pat Toomey.

    The upper chamber in January 2023 then shifted from its previous 50-50 split — with Senate control in 2021 and 2022 resting on Vice President Kamala Harris' tiebreaking abilities — to a 51-49 majority led by Majority Leader Chuck Schumer of New York. And despite Arizona Sen. Kyrsten Sinema switching from the Democratic Party to register as an Independent late in 2022, she continues to retain her committee assignments through her former party.

    However, the class of senators who were elected and reelected in 2018 — a Democratic wave year that saw several vulnerable red-state members of the party win and lose — will face a challenging map in 2024.

    Much of the party's performance will likely be tied to President Joe Biden, who is seeking reelection to a second term but is now facing calls from some Democrats to step aside as the nominee after a widely panned June 2024 debate performance. Biden has said he has no plans to leave the race.

    Former President Donald Trump, who will once again be the Republican presidential nominee this year, remains unpopular among moderates and suburban voters who often decide close Senate elections.

    A big retirement that boosts the GOP: Sen. Joe Manchin of West Virginia in November 2023 announced that he wouldn't seek reelection in 2024, a major blow to Democrats as he was not only the lone statewide officeholder from the party but the only Democrat who could conceivably have run a competitive race given its conservative lean. The GOP is now in the driver's seat in the Mountain State, which backed Trump over Biden by 39 points in 2020.

    In 2024, 34 seats will be up for grabs, including 20 currently held by Democrats, 11 held by Republicans, and three currently held by Independents.

    Here are the key states that both parties are set to target:

    Ruben Gallego
    Rep. Ruben Gallego, a Phoenix-area lawmaker, is seeking the Democratic Senate nomination in Arizona.

    Arizona

    Sinema's decision to become an Independent gave Democrats jitters while they were still rejoicing Georgia Sen. Raphael Warnock's runoff victory in December 2022, but since then, her decision hasn't impaired the party's ability to move legislation and approve judicial nominations.

    However, after more than a year of speculation, Sinema announced in March 2024 that she wouldn't seek reelection to a second term, ending fears from some Democrats that her candidacy might aid the GOP in a potential three-way race.

    Rep. Ruben Gallego launched his campaign for the Democratic Senate nomination in January 2023 and remains the frontrunner to win the party's primary in July.

    Democrats have made major inroads in Arizona in recent years, and the party is aiming to bolster their political ascent in the state by electing Gallego.

    On the Republican side, former television journalist Kari Lake and Pinal County Sheriff Mark Lamb are the leading candidates.

    Lake, the 2022 gubernatorial nominee who lost to now-Gov. Katie Hobbs, jumped into the Senate race in October 2023 with the endorsement of Trump. While Lake ran a hard-charging conservative campaign two years ago, she has recalibrated her strategy and has sought to expand the GOP tent this year in anticipation of a competitive general election race in the purple state.

    Meanwhile, Lamb, a conservative who has pushed for stronger security measures at the US-Mexico border, was the first major Republican to enter the race.

    Blake Masters, the 2022 Republican Senate nominee who lost to Democratic Sen. Mark Kelly, is running for the House seat being vacated by GOP Rep. Debbie Lesko after the 2024 elections.

    Abe Hamadeh, who was narrowly defeated in the 2022 race for state attorney general, had been mentioned as a potential contender but in October 2023 threw his support behind Lake. He is also running to succeed Lesko in the House.

    Larry Hogan
    Former Maryland Gov. Larry Hogan is a top Senate recruit for Republicans.

    Maryland

    Former Republican Gov. Larry Hogan will face off against Prince George's County Executive Angela Alsobrooks for the seat being vacated by veteran Democratic Sen. Ben Cardin.

    Maryland is one of the most Democratic states in the country. The party has hefty majorities in the state legislature and dominates the state's congressional delegation. In the 2020 election, Biden won the state by 33 points. And Gov. Wes Moore easily won the state's open gubernatorial race in 2022.

    Hogan's candidacy presents a unique challenge for Democrats. The former two-term governor, one of the most prominent Republican critics of Trump, left office with high marks from Maryland voters. During his two gubernatorial runs, he won over many moderate Democrats and Independents en route to his victories in a state where Republicans are vastly outnumbered.

    And Republicans have the financial means to compete in Maryland as they seek to replicate the coalition that gave Hogan eight years in Annapolis.

    But Alsobrooks, a former prosecutor, gained substantial name recognition as she campaigned across the state and won a tough Democratic primary against Rep. David Trone, who spent over $60 million of his own money in his unsuccessful bid to secure the party's nomination.

    Alsobrooks also benefits from representing the state's second-most populous county, and in the primary she performed strongly in Trone's suburban Washington backyard and in the Baltimore area.

    If elected, Alsobrooks would be Maryland's first Black US senator.

    In June 2024, Trump threw his support behind Hogan's candidacy in an attempt to bridge GOP divides ahead of the critical summer stretch.

    But Hogan's campaign is maintaining its distance from Trump.

    "Governor Hogan has been clear he is not supporting Donald Trump just as he didn't in 2016 and 2020," a Hogan campaign spokesperson said in a statement at the time.

    Alsobrooks is using Trump's show of support for Hogan to tie the Senate candidate to conservative efforts to curtail abortion rights.

    But Hogan has said that he would not vote for a national abortion ban. It's a stance that Democrats continue to question on the campaign trail.

    "Republicans see Hogan as a ticket to a national abortion ban," Alsobrooks said during a Baltimore news conference in May 2024. "They believe that road runs through Larry Hogan and runs through the state of Maryland."

    Elissa Slotkin
    Rep. Elissa Slotkin is running for the Democratic Senate nomination in Michigan.

    Michigan

    Democratic Sen. Debbie Stabenow, a popular lawmaker now in her fourth term, announced in January 2023 that she would not run for reelection in 2024.

    Stabenow, the chair of the Senate Agriculture Committee, was most recently reelected in 2018 by 6.5% against now-GOP Rep. John James. (James, the Republican Senate nominee in both 2018 and 2020, is running for reelection to his House seat anchored in suburban Detroit this fall.)

    Republicans would very much like to flip this seat, but Michigan Democrats had a banner year in November 2022 — sweeping the top statewide offices and retaking control of the full legislature. Michigan is a must-win state for Biden this year, but he continues to face significant intraparty pushback over the conflict in Gaza, an issue that will play heavily in the presidential race and the Senate contest given the state's sizable Arab-American population.

    Rep. Elissa Slotkin, a moderate Democrat who represents a Lansing-area swing district that stretches to rural and suburban areas northwest of Detroit, announced in February 2023 that she would enter the Senate race.

    Slotkin, a former CIA analyst and the acting assistant defense secretary for international security affairs in the administration of President Barack Obama, is the most prominent elected official to seek the Democratic nomination.

    The congresswoman, who was first elected in 2018, said in her announcement video that she would focus on bolstering the middle class "in the state that invented the middle class" if voters send her to the Senate.

    Gov. Gretchen Whitmer, Lt. Gov. Garlin Gilchrist II, Michigan Attorney General Dana Nessel, Michigan Secretary of State Jocelyn Benson, Reps. Debbie Dingell and Haley Stevens, and state Sen. Mallory McMorrow all ruled out Senate campaigns.

    The actor Hill Harper, best known for his roles on "CSI: NY" and "The Good Doctor," jumped into the Democratic primary in July 2023.

    A number of Republicans are currently in the race, including former Rep. Mike Rogers, Sandy Pensler, a businessman, and Sherry O'Donnell, a physician and former congressional candidate.

    Former Rep. Justin Amash, who voted to impeach Trump in 2019, is also running for the GOP nomination.

    Rogers, a former chairman of the House Intelligence Committee who served in Congress for 14 years, offers Michigan Republicans their most formidable candidate to date. But his appeal in a Trump-dominated GOP is untested on a statewide level.

    Former Rep. Peter Meijer, one of 10 House Republicans who voted to impeach Trump for his role on January 6, 2021, entered the race in November 2023 but withdrew in April 2024.

    Meijer served for one term in Congress and was ousted in a 2022 GOP primary by Trump-backed challenger John Gibbs. Gibbs eventually lost the general election race to now-Democratic Rep. Hillary Scholten.

    Manchin Tester
    Sen. Joe Manchin of West Virginia, who will not seek reelection in 2024, with Tester.

    Montana

    Democratic Sen. Jon Tester is a political survivor, having first won in conservative-leaning Montana in 2006 before winning tough reelection contests in 2012 and 2018.

    And Tester hopes to keep the streak going, announcing in February 2023 that he'd seek a fourth Senate term in 2024.

    Despite the GOP lean of Montana, Tester has built a solid political brand over the years and has been able to appeal to many of the state's Independents and Republicans in past elections. GOP leaders have long coveted this seat, though.

    Former Navy SEAL Tim Sheehy, a favorite of Republican leaders in Washington, was endorsed by Trump and won the June 2024 GOP primary.

    Rep. Matt Rosendale, a staunch conservative who lost to Tester in 2018, entered the race in February 2024. But the following week, Rosendale dropped his bid, citing the headwinds he'd likely face after Trump backed Sheehy.

    After Rosendale pivoted to running for reelection to the House, he subsequently withdrew from that race as well.

    Nevada

    Democratic Sen. Jacky Rosen is running for a second term in office in one of the most competitive battleground states in the country. In 2018, Rosen, then a first-term congresswoman, ousted then-Republican Sen. Dean Heller by 5 points.

    In 2024, Rosen will be running for reelection as Nevada — a perennial swing state — remains a top electoral target for both Biden and Trump.

    Army veteran and businessman Sam Brown easily won the June 2024 GOP Senate primary against a slate of candidates that included Jeffrey Gunter, the former US ambassador to Iceland, as well as former state lawmaker Jim Marchant.

    Sherrod Brown
    Democratic Sen. Sherrod Brown has cultivated a populist political brand in Republican-leaning Ohio, which has helped him stay in office for three terms.

    Ohio

    Sherrod Brown, who was also elected to the Senate in 2006, is running for a fourth term. He has maintained a strong populist connection with his constituents despite the continued reddening of Ohio, which only 20 years ago was widely seen as the nation's premier swing state.

    Republicans view the Ohio seat as one of their biggest targets, but Brown has proven to be an effective candidate adept at winning over Independents and even a slice of conservative-leaning voters.

    In March 2024, businessman Bernie Moreno defeated state Sen. Matt Dolan and Ohio Secretary of State Frank LaRose in a hotly-contested GOP primary.

    Moreno and Dolan previously ran for Senate in 2022 but fell short in that year's Republican primary to now-Sen. JD Vance.

    The general election matchup between Brown and Moreno, which could very well determine the Senate majority, is now set to be one of the most expensive races in the country.

    Pennsylvania

    Democratic Sen. Bob Casey Jr., who was first elected to the upper chamber in 2006, is seeking a fourth term in 2024.

    Casey — a former Pennsylvania auditor general and ex-state treasurer who has won all three of his prior Senate races with relative ease — will likely benefit from running in a presidential year when turnout in the Democratic strongholds of Philadelphia and Pittsburgh is poised to be very high.

    However, Casey has also generally done well in many of the state's working-class towns and cities, and he could post an electoral performance similar to Fetterman, who dominated in the vote-rich Philadelphia suburbs in 2022.

    David McCormick, a businessman who narrowly lost the 2022 Republican Senate primary to Dr. Mehmet Oz, will be the party's Senate nominee in the fall. McCormick, who grew up in the Pittsburgh area, is viewed as a candidate who can potentially bolster the GOP among Independents and suburban voters.

    Ted Cruz
    Sen. Ted Cruz of Texas is running for a third term in 2024.

    Texas

    The Lone Star State has been firmly in the Republican column since the 1990s.

    Democrats have sought to run more competitive Senate and gubernatorial races in recent years but have largely fallen short by sizable margins, with the notable exception being the close 2018 senatorial contest between then-Democratic Rep. Beto O'Rourke and Republican Sen. Ted Cruz. That year, O'Rourke lost to Cruz by 2.6 points, a result that gave Democrats hope that they could once again win the state in the near future.

    Cruz has long been a political foil for Democrats; the conservative lawmaker also ran for president in 2016 before his defeat in the GOP primary to Trump.

    In March 2024, Rep. Colin Allred, a former NFL player and civil rights attorney, easily won the Democratic primary over candidates that included state Sen. Roland Gutierrez, state Rep. Carl Sherman, and former Nueces County district attorney Mark Gonzalez.

    Republicans point to the conservative tilt of the state in projecting confidence in the race, but they are also cognizant of Cruz's narrow 2018 victory.

    Trump is favored to carry Texas in 2024, which would likely boost Cruz, but Allred was first elected to office by appealing to moderates and flipping a GOP-held district in the Dallas area. The congressman could potentially build on O'Rourke's success by making further inroads in suburbs across the state, especially if abortion remains as potent an issue in 2024 as it was in the 2022 and 2023 elections.

    Tammy Baldwin
    Sen. Tammy Baldwin is running for reelection in Wisconsin, a perennial swing state.

    Wisconsin

    Sen. Tammy Baldwin announced in April 2023 that she'd seek a third term in the upper chamber.

    While Wisconsin in recent years has been one of the most politically polarized states in the country, Baldwin was able to win over many rural and exurban voters during her 2012 and 2018 campaigns — while also racking up large margins in the Democratic-heavy population centers of Milwaukee and Madison.

    Several of the most prominent Republicans who were thought of as potential candidates — including former Gov. Scott Walker, Reps. Bryan Steil and Tom Tiffany, and former Rep. Mike Gallagher — declined to enter the race.

    The GOP candidates currently in the race include Eric Hovde, a businessman, and Rejani Raveendran, the chair of the University of Wisconsin-Stevens Point College Republicans.

    Read the original article on Business Insider
  • France’s left-wing alliance blocks a far-right majority, projection shows

    People in France gathered, cheering
    Voters delivered a blow to France's far-right bloc, the National Rally, after projections showed the leftist New Popular Front ahead in the polls.

    • President Emmanuel Macron took a huge bet by calling for a surprise election in France.
    • Macron risked losing what little power he had in the National Assembly to France's far-right bloc.
    • Voters rebuked the far-right party on Sunday, but now no political party holds a majority.

    French voters are projected to rebuke the country's far-right, anti-immigration National Rally party, but no clear majority emerged on Sunday, leaving President Emmanuel Macron's centrist alliance further weakened and France on a path towards political gridlock.

    Macron took a huge bet in June by calling for a surprise snap legislative election soon after the National Rally, France's far-right bloc led by Marine Le Pen, trounced the president's centrist Renaissance party in the European Parliament elections with more than twice the amount of votes for his coalition.

    The results pushed Macron's hand to dissolve the National Assembly — France's lower house that holds more prominence in the Parliament due to its ability to pass laws — and make a huge gamble by calling for an early election.

    By doing so, Macron hoped the voters would establish a stronger mandate in the lower house and strengthen his influence on the world stage. The president, whose popularity in France was already declining, lost a majority in the National Assembly in 2022, leaving his coalition to push laws without a vote in the lower house using a controversial but legal constitutional tool.

    The New York Times reported that Macron, without a majority in the lower house and relegated to political maneuvering, said his decision was inevitable.

    But the gamble backfired.

    On June 30, the National Rally Party again dealt a huge blow to Macron's Renaissance party and its allies by securing 33% of votes in the first round of voting, which saw a high turnout.

    The New Popular Front, a left-wing coalition formed for the snap election, secured 28% of the votes.

    Macron's centrist coalition only received 20%.

    For a brief moment, France appeared to be looking at the first far-right government to emerge since the Nazi occupation, according to The Associated Press.

    However, on Sunday's second round of voting, the Times reported that a boost in support for the leftist New Popular Front was projected in near-final results to give it the most seats in the 577-member lower house but not a majority, citing France's polling institutes.

    The leftist alliance is projected to secure between 177 seats, according to The Times.

    Macron's centrist coalition, the Ensemble, which includes the Renaissance party, came in second with a projected 148 seats, while the far-right National Rally came in third with 142 seats.

    Jean-Luc Mélenchon, leader of the left-wing alliance, called the results an "immense relief for a majority of people in our country," the AP reported.

    Though the results have soothed leftists' and centrists' immediate concerns about a far-right government, France may be headed for political deadlock with no clear majority established in the National Assembly.

    Final results are expected to come in late Sunday or Monday.

    Read the original article on Business Insider