Tag: Motley Fool

1) Sad news today with the death of The Queen. As the UK’s longest-serving monarch, Queen Elizabeth II was a constant in almost all our lives. The UK begins a 10-day mourning period.  Excerpt from Bloomberg…

“Queen Elizabeth II, whose reign took Britain from the age of steam to the era of the smartphone, and who oversaw the largely peaceful breakup of an empire that once spanned the globe, has died. She was 96.

“Ascending the throne in 1952, Elizabeth led the UK through a time of political upheaval.

“Her eldest son, Charles, succeeds her on the throne as King Charles III.”

“We mourn profoundly the passing of a cherished sovereign and a much-loved mother,” Charles said in a statement. “I know her loss will be deeply felt throughout the country.”

According to the Australian Financial Review, there are no immediate plans in Australia to change banknote and coin designs that feature Queen Elizabeth II. 

“Government officials said King Charles III will begin appearing on Australian coins from 2023. It is unclear whether his face will replace Queen Elizabeth on the $5 note.”

2) You perhaps may not realise it – given the high petrol prices at the bowser, the ongoing war in Ukraine, the European energy crisis, and the bumper interim dividend recently declared by Woodside Energy Group Ltd (ASX: WDS) – but the oil price is this week hitting its lowest level since January, falling below $US83 a barrel. Excerpt from Bloomberg…

“Oil headed for a back-to-back weekly loss, burdened by demand concerns, rising stockpiles, and the possibility the Biden administration may make a fresh release from emergency reserves.

“Crude has declined by more than 30% since its June highs as concerns over a global slowdown have gathered strength, overturning the rally triggered by Moscow’s invasion of Ukraine. On Thursday, Federal Reserve Chair Jerome Powell said that the US central bank was determined to curb price pressures, while the European Central Bank delivered a jumbo interest rate rise.”

ASX-listed energy stocks have been largely immune from the falling oil price. Year to date, the Woodside Energy share price is up 47%, the Beach Energy Ltd (ASX: BPT) share price is up 31% and the Santos Ltd (ASX: STO) share price is up 22%.

And Warren Buffett clearly is a long-term fan of oil, with his Berkshire Hathaway having recently been given approval to buy as much as 50% of the shares of US giant Occidental Petroleum. According to Bloomberg, the attraction for Buffett is with inflation looking to be the mega-trend for the first half of the 2020s, crude oil is one of the best natural hedges out there.

3) The S&P/ASX 200 Index (ASX: XJO) jumped higher yesterday after Reserve Bank of Australia (RBA) governor Philip Lowe said, in relation to the current cash rate of 2.35%, “we are closer to estimates of neutral”.

While acknowledging more interest rate rises would be necessary to bring inflation under control, the market is now expecting/hoping the RBA will ease the pace of tightening.

According to the AFR, Su-Lin Ong, chief economist at RBC Capital Markets, expects the RBA to lift interest rates by 0.25 percentage points in October and November. 

The same publication quotes ANZ as still expecting a 0.5 percentage point rise in October, but 0.25 percentage point rises in November and December. 

The bank is still projecting a peak cash rate of 3.35%, meaning he thinks the RBA will be done raising interest rates before the end of this year

4) Could that set things up for a rally in the ASX 200, potentially starting sooner than we might otherwise think?

One fund manager that’s not sitting on the sidelines waiting for markets to steady, or inflation to be tamed, or interest rates to peak, is Airlie Funds Management. Excerpt from the AFR…

“’It sounds counterintuitive, but you’ve got a better chance of making good money when markets are down. So, we welcome volatility, we welcome short-termism because it increases the chance that you’re going to be able to buy mispriced assets,’ says Emma Fisher, portfolio manager at Airlie Funds Management.

“Fisher says corporate balance sheets in Australia are ‘in better shape than they’ve been in any other downturn that we’ve seen’, providing local firms with no shortage of flexibility to navigate any downturn.

“We think if we are heading into a tougher period, that the Australian economy will probably do relatively quite well… we do a good job of talking ourselves into recession.”

Stocks Airlie like include retailers Nick Scali Limited (ASX: NCK) and Premier Investments Limited (ASX: PMV). The Premier Investments share price has fallen 22% in the past 12 months and now trades on a fully franked dividend yield of 4.3%.

The post Here’s why the ASX 200 could be set up for an almighty rally before the end of this horrible year for stocks appeared first on The Motley Fool Australia.

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More reading

• The Woodside share price is trading near multi-year highs. Will the green energy transition spoil the party?
• 5 things to watch on the ASX 200 on Friday
• Here’s why ASX 200 energy shares are diving lower today
• The Santos share price is under pressure today. Here’s why
• Why is the Beach Energy share price sinking on Thursday?

Motley Fool contributor Bruce Jackson has a position in Berkshire Hathaway. 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 Premier Investments Limited. 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 De Grey Mining Limited (ASX: DEG) share price is having a very strong day.

In afternoon trade, the gold developer’s shares are up 13% to $1.10.

This means the De Grey share price is now up almost 20% over the last two trading sessions.

Why is the De Grey share price rocketing higher?

Investors have been buying the company’s shares since the release of the pre-feasibility study for its Mallina gold project in Western Australia.

That study revealed upgrades across the board to previous estimates. De Grey expects a life of mine (LOM) of up to 13.6 years, average processed grade up to 1.6 g/t Au, recovered gold of up to 6.4 million ounces, LOM EBITDA of $7.1 billion, and total pre-production costs of up to $1.05 billion.

De Grey managing director and CEO Glenn Jardine said:

Total production has increased by nearly 50% from the scoping study to 6.4Moz with the annual gold production rate increasing by around 25% to 540,0000zpa over the first ten years.

Also getting investors excited were comments relating to its Hemi deposit. Management revealed that its maiden Hemi reserve has 5.1 million ounces of gold at a grade of 1.5g/t Au. It highlights that this is “one of the largest and highest grade maiden reserves in recent decades.”

Positive broker response

It wasn’t just investors that responded positively to the news.

According to a note out of Macquarie, its analysts have responded to the update by retaining their outperform rating with an improved price target of $1.65.

Even after rising strongly this week, this implies potential upside of 50% for the De Grey share price over the next 12 months.

Macquarie was pleased with the material increase to the pre-feasibility study and appears optimistic ahead of the final investment decision next year.

The post Why is the De Grey share price rocketing another 13% on Friday? appeared first on The Motley Fool Australia.

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More reading

• Why is the De Grey share price rushing higher on Thursday?
• Here are the top 10 ASX 200 shares today
• These are the 10 most shorted ASX shares
• Here are the top 10 ASX 200 shares today
• Guess which ASX 200 company bought over $65 million of De Grey shares in August

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.

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The S&P/ASX 300 Index (ASX: XKO) is in the green today, and the share prices of some market favourites are surfing its gains. In fact, many are leaping to long-forgotten or never-before-seen heights.

The ASX 300 is up 0.49% right now.

Let’s take a look at three ASX 300 shares reaching record or multi-year highs on Friday.  

3 ASX 300 shares reaching new highs today

Lovisa Holdings Ltd (ASX: LOV)

ASX 300 share Lovisa has been on a good run lately. It’s gained 34% over the last 30 days to reach a new all-time high of $24.43 today.

And fans of the jewellery company are likely counting down the days until the stock experiences a notable upgrade. It’s set to be added to the S&P/ASX 200 Index (ASX: XJO) later this month.

It’s likely Lovisa’s addition to the iconic index will further boost its share price. That’s because funds tracking the index will be forced to snap up its securities, thereby increasing demand for the stock and, likely as a result, its value.

Leo Lithium Ltd (ASX: LLL)

Leo Lithium is another ASX 300 share rising to a record high on Friday. The lithium stock lifted 6.6% to 64.5 cents at its intraday high – the highest it’s been since it listed on the ASX.

The company was spun out from Firefinch Ltd (ASX: FFX) in June, with shareholders of the parent company receiving one Leo Lithium stock for every 1.4 Firefinch shares held.

On top of that, another parcel of Leo Lithium shares was offered for 70 cents apiece, raising $100 million as part of its initial public offering (IPO).

Monadelphous Group Limited (ASX: MND)

The final ASX 300 share lifting to long-forgotten highs today is Monadelphous. Stock in the engineering group lifted 5.3% to a high of $13.74 today. That marks its highest point in more than 18 months.

That’s despite no news having been released by the company in more than a fortnight.

The last time the market heard from the ASX 300 share was on 23 August. That was when it released its full-year earnings.

The post 3 ASX 300 shares hitting new highs on Friday appeared first on The Motley Fool Australia.

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More reading

• 4 ASX lithium shares hitting all-time highs on Thursday
• Guess which soon-to-be-ASX 200 share doubled its dividend in August
• Morgans names 2 of the best ASX growth shares to buy
• 5 things to watch on the ASX 200 on Thursday
• Analysts say these exciting ASX growth shares have at least 20% upside

Motley Fool contributor Brooke Cooper 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 recommended Lovisa Holdings Ltd. 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 Woolworths Group Ltd (ASX: WOW) share price has fallen in the past month, but could it turn around in the future?

Woolworths shares have lost almost 6% since market close on 9 August and are currently trading at $35.93. In today’s trade, they are down 1.75%.

Let’s take a look at the outlook for this supermarket giant.

What do the brokers say?

Woolworths’ net profit and sales lifted in FY22, and one leading broker is tipping its shares to move higher.

Goldman Sachs recommends investors buy the Woolworths share price and have placed a $44.10 target on the company’s shares, a potential upside of 22.7%.

Goldman was impressed with Woolworths’ financial results and is optimistic the company will continue to grow.

Commenting on these results, Goldman analysts said:

Results were of high quality with AU supermarket comp store growth of 5.2% in 4Q22 driven by strong price and positive mix.

Woolworths reported a net profit after tax (NPAT) of $1.5 billion in FY22, a 0.7% gain on the previous year.

Group sales lifted 9.2% on the previous financial year to $61 billion. The company’s retail e-commerce sales grew 33.6% in FY22.

Goldman is also optimistic about Woolworths’ digital and omni-channel advantage and sees it boosting market share and providing margin gains in the future.

Analysts are predicting Woolworths will deliver a fully franked dividend of $1.07 per share in FY23 and $1.16 in FY24. The company paid a final dividend of 92 cents per share in FY22.

Woolworths share price snapshot

The Woolworths share price has fallen nearly 10% in the past year and 5% year to date.

Woolworths has a market capitalisation of about $43.7 billion based on the current share price.

The post Why this top broker is tipping 23% upside for the Woolworths share price appeared first on The Motley Fool Australia.

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More reading

• How do Endeavour’s dividends stack up against its old parent Woolworths?
• Brokers name 2 ASX 200 shares to buy for a retirement portfolio
• Should all ASX investors be buying defensive shares right now?
• Woolworths share price edges higher as shareholders green light MyDeal takeover
• Are Woolworths shares good value in September?

Motley Fool contributor Monica O’Shea 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 Goldman Sachs. 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.

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Some directors of companies in the S&P/ASX 200 Index (ASX: XJO) have been busy selling shares this week.

It can be worth monitoring the activity of company insiders. After all, they should have better insights than the rest of us about the company’s prospects.

But ultimately, director sales come in different shapes and sizes and there are many reasons why directors sell shares. So, I’d be using this information as just another piece of a much larger puzzle.

Let’s check out three ASX 200 shares that have seen director selling this week.

Computershare Limited (ASX: CPU)

According to an ASX release yesterday, CEO Stuart Irving offloaded a total of 238,506 Computershare shares on market between 2 September and 5 September. These shares were sold for total consideration of $5.8 million, implying an average selling price of $24.22. 

This could be putting downwards pressure on the Computershare share price today. Shares have slid 0.9% at the time of writing to $24.52.

According to the release, the sale was, in part, to satisfy withholding tax obligations arising from the vesting of shares through the company’s employee incentive plans. The release further noted that Irving sold additional shares to fund a home purchase in the UK.

Irving retains 132,580 Computershare shares, currently worth around $3.3 million, and a further 653,000 performance and share appreciation rights.

Carsales.com Ltd (ASX: CAR)

Carsales has seen two changes in director’s interest notices come through today relating to separate directors. While the ASX 200 is climbing 0.3%, the Carsales share price is driving 0.4% lower at the time of writing to $22.01.

First up, alternate non-executive director Steven Kloss offloaded 47,248 Carsales shares on the market on 2 September, pocketing $1.1 million in the process. No reasons were provided for the sale but its size is dwarfed by Kloss’ remaining shareholding. He still holds 2.8 million shares in the company, worth around $62 million at current prices.

Non-executive director Walter Pisciotta has also been pressing the sell button, cashing in on 250,000 shares to the tune of $5.5 million. The sales were completed on the market at an average Carsales share price of $22.14. Similarly to Kloss, there was no explanation for the sale. But as the company’s founding chair, Pisciotta still holds a monstrous 8.3 million Carsales shares, currently valued at roughly $183 million.

Allkem Ltd (ASX: AKE)

Director selling has continued for this ASX lithium share this week. Last week, we discovered that non-executive director Richard Seville had a $20 million payday, offloading 1.5 million shares.

This week, we’ve seen three changes in directors’ interest notices at Allkem.

On Monday, it was revealed that non-executive chair Martin Rowley sold 76,038 shares on market, scooping up just over $1 million. Then, news came through yesterday that Rowley had sold a further 149,459 Allkem shares, pocketing an additional $2.1 million. No reasons were provided for either of these sales. But Rowley remains a notable shareholder, holding 2.6 million Allkem shares worth $40 million based on current prices.

During the week, we also learned that managing director and CEO Martin Solay had joined the selling party, unloading 190,148 Allkem shares on the market. The ASX release said the proceeds would go towards meeting tax obligations from the vesting of performance rights. Solay continues to hold 152,818 ordinary shares, valued at around $2.3 million, and a further 770,507 unlisted performance rights.

Despite these insider sales, the Allkem share price has jumped 16% this week, extending what’s been a booming year for this ASX 200 lithium share.

The post 3 ASX 200 directors who have been selling shares in their companies this week appeared first on The Motley Fool Australia.

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More reading

• 5 ASX 200 lithium shares with the lowest levels of debt
• Up 30% in a month, has the Allkem share price run its course?
• Here are the top 10 ASX 200 shares today
• 4 ASX lithium shares hitting all-time highs on Thursday
• Why is the Lake Resources share price leaping 10% on Thursday?

Motley Fool contributor Cathryn Goh 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 recommended carsales.com Limited. 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 PointsBet Holdings Ltd (ASX: PBH) share price is shooting 4.4% higher today.

The surge comes after the company announced an update on its wholly-owned subsidiary, PointsBet Maryland.

At the time of writing, shares in the sports betting company are trading at $2.36. They notched an intraday high of $2.42 in earlier trade this morning.

PointsBet take first bet in Maryland

Investors are bidding up the PointsBet share price today after digesting the company’s positive news.

In today’s release, PointsBet advised it has taken its first retail sportsbook bet in Maryland, United States.

The company said Maryland Governor Larry Hogan signed legislation to allow online and retail sports betting in the state in May 2021.

PointsBet quickly jumped on the opportunity, announcing the following month that it had secured online and retail market access in Maryland.

The company achieved this through partnering with the ‘Riverboat on the Potomac’, a licensed satellite simulcast facility for horseracing and minority-owned small business.

This move marks PointsBet’s 12th sportsbook operation in the United States. The company now operates in the states of New Jersey, Iowa, Indiana, Illinois, Colorado, Michigan, West Virginia, Virginia, New York, Pennsylvania and Kansas.

It expects to launch its online sportsbook operations in Maryland early in the third quarter of FY23.

PointsBet US CE) Johnny Aitken welcomed the news, saying:

We are thrilled to be live in Maryland ahead of the commencement of the NFL season.

The first bet was taken on the Buffalo Bills, and we look forward to showcasing our product to the passionate, sports-loving community of Maryland.

PointsBet share price snapshot

Despite roaring higher today, the PointsBet share price has tumbled by 75% over the last 12 months.

The company’s shares touched a three-month low of $2.13 earlier this week.

Based on today’s price, PointsBet commands a market capitalisation of approximately $719 million.

The post The PointsBet share price is roaring higher today. Here’s why appeared first on The Motley Fool Australia.

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More reading

• Nitro now Tyro: Could there be ‘Potentia-l’ for other ASX tech shares?
• Why Karoon Energy, Pilbara Minerals, PointsBet, and Whitehaven Coal are rising
• Why Adairs, Fortescue, PointsBet, and Qantas shares are dropping
• Here’s why the PointsBet share price is stumbling on Monday
• Why these 3 ASX shares could be in for a massive boost this month

Motley Fool contributor Aaron Teboneras 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 Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. 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 Temple & Webster Group Ltd (ASX: TPW) share price is having a positive finish to the week.

In early afternoon trade, the online homewares and furniture retailer’s shares are up over 3% to $5.75.

Why is the Temple & Webster share price pushing higher?

Investors have been buying the company’s shares on Friday after it was the subject of a bullish broker note out of Goldman Sachs.

According to the note, the broker has initiated coverage on the ecommerce company with a buy rating and $7.55 price target.

Based on the current Temple & Webster share price, this implies potential upside of 31% for investors over the next 12 months.

What did the broker say?

Goldman is bullish on the Temple & Webster share price due to the company’s “material runway for long-term growth.” This is being underpinned by the shift online, which is still in its infancy for the category compared to other key markets. The broker explained:

Temple and Webster is the largest pure-play online home retailer in Australia: we estimate it has 12.4% market share of the online homewares/home furnishings market, with 61% brand awareness (according to the company). We believe the business has a material runway for long-term growth, supported by a large and growing TAM driven by increasing e-commerce penetration which still lags other comparable markets (Aus 16% vs. UK/US 28%/25%), even after a large pull forward in online sales over the last 2-3 years. The significant scale that TPW has achieved, its superior digital capabilities, and data-driven approach to customer acquisition and retention position it well to continue to scale online.

Goldman also believes that the company is well-placed for growth despite the current challenging economic environment. It suggested that Temple & Webster “can deliver long term structural growth, despite a slowdown in the near term macro environment.”

In addition, the broker highlights that this side of the retail market has higher barriers to entry, which bodes well for the company.

[I]n our view TPW is best placed to be a winner in a category that favours scale players, requires a specialised approach to e-commerce, and has higher barriers to entry vs. other retail categories.

All in all, Goldman believes this positive outlook makes the Temple & Webster share price great value at the current level.

The post ‘Material runway’: Goldman Sachs says Temple & Webster share price is a buy appeared first on The Motley Fool Australia.

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More reading

• ASX better buy: Temple & Webster or Kogan shares?
• How I’d invest $20,000 in ASX shares today if I had to start from scratch
• After seeing their reports, I think these 2 ASX 300 shares are buys
• ASX reporting season weekly wrap: Winners and losers
• Could these devastated ASX shares make a roaring comeback?

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 positions in and has recommended Temple & Webster Group Ltd. The Motley Fool Australia has recommended Temple & Webster Group Ltd. 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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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.

Amazon (NASDAQ: AMZN) and Shopify (NYSE: SHOP) are leading players in the online-retail industry, and both companies have also seen substantial share price declines across 2022’s turbulent trading. Which of these e-commerce stocks is the better buy at today’s prices? Read on to see why two Motley Fool contributors disagree on which company you should put your money behind. 

Amazon has incredible competitive advantages

Parkev Tatevosian: Amazon has expanded from a tiny online book retailer to the everything store it is today. The company has made this leap with its focus on the customer experience. With every step in its progress, Amazon has worked to improve the customer value proposition. 

This wasn’t an easy task. It required years of experience and billions of dollars of investments in warehouses, logistics, web servers, and more. The effectiveness of those capital investments has helped Amazon grow from $107 billion in sales in 2015 to $470 billion in 2021. 

Moreover, the massive capital investment makes it difficult for any competitor to encroach on its business. Amazon can offer free two-day shipping to Prime members for millions of items on its platform, and even next-day shipping in select cities. When people consider buying something online, the delivery window is a significant selling point. Therefore, Amazon’s lead in this arena is a competitive advantage that could serve it well for years.

As Amazon’s revenue grows, it leverages its fixed costs across a broader sales base. In other words, Amazon’s business model demonstrates economies of scale. Between 2015 and 2021, Amazon’s operating profit margin grew from 2.1% to 5.3%.  

Of course, Amazon faces headwinds in the near term as consumers decrease online spending and look to spend money on away-from-home experiences they missed out on during the earlier stages of the pandemic. However, online spending as a percentage of overall spending is forecast to continue rising over the next several years.

That longer-run trend is unlikely to reverse because of the fundamental advantages e-commerce offers. Amazon, the largest e-commerce retailer, benefits from that trend.

Shopify’s beaten-down stock has huge potential upside

Keith Noonan: Amazon’s massive scale and infrastructure advantages probably make it more protected from competition compared to Shopify and its merchant-platform services model. The tech giant’s hugely successful cloud services business also looks poised for more strong growth over the long term. I wouldn’t have any qualms with anyone stating that Amazon is the better company, but I also think there’s a strong case that Shopify is the better stock and offers a more attractive risk-reward profile at current prices. 

Shopify has admittedly seen growth slow dramatically as it’s lapped periods of blockbuster performance and seen pandemic-related demand tailwinds recede. After posting 57% year-over-year sales growth in the second quarter of 2021, Shopify’s Q2 revenue growth came in at just 16% this year.

Despite the substantial deceleration, the company still has plenty of room for long-term sales and earnings expansion as it attracts new merchant partners, paves the way for increased spending from those already using its services, and builds out supply chain management and fulfillment services that increase the value of its platform.

Shopify’s share price is down roughly 78% year to date and 83% from the lifetime high that it hit last November, and the big sell-off has presented an attractive buying opportunity. 

SHOP data by YCharts

Amazon stock has been punished in response to bearish shifts in the broader market and slowdown sin the e-commerce space as well, and I expect that it will eventually bounce back and go on to reach new highs.

Still, Shopify’s pullback looks even more overdone. The company’s market capitalization of roughly $38 billion also represents just a small fraction of Amazon’s $1.3 trillion valuation, and the size difference suggests the smaller company could have an easier time moving the needle and delivering big gains for shareholders. 

So which of these e-commerce companies is the better buy?

If you’re bullish on the long-term outlook for the e-commerce space, investing in both Amazon and Shopify could be the best play. Both companies are leaders in their respective service categories, and both companies are on track to play important roles in driving the growth of the overall online retail market. 

If you’re only interested in owning one of these stocks, go with the one that best suits your risk tolerance and portfolio goals. While both companies have growth-dependent valuations, Amazon’s business is larger, sturdier, and significantly more profitable thanks to its cloud services segment. But for those investors who see promise in Shopify’s business and are willing to take on more risk, the smaller e-commerce player may have the potential to deliver superior returns. 

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

The post Better buy: Shopify vs. Amazon stock appeared first on The Motley Fool Australia.

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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Keith Noonan has no position in any of the stocks mentioned. Parkev Tatevosian has positions in Shopify. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Shopify. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2023 $1,140 calls on Shopify and short January 2023 $1,160 calls on Shopify. 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.

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

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The Classic Minerals Ltd (ASX: CLZ) share price has more than trebled on Friday on news the company has secured a $10 million funding agreement.

The agreement will see production at the explorer’s flagship Kat Gap gold project kicking off.

Shares in Classic Minerals last traded on 1 September when they closed at 1.6 cents.

Today, the stock notched a massive 287.5% gain, hitting a high of 6.2 cents. The Classic Minerals share price has since settled slightly to trade at 5.9 cents – representing a 268.7% rise.

Let’s take a closer look at today’s news from the ASX gold share.

What’s driving ASX gold share Classic Minerals sky-high?

The share price of ASX gold hopeful Classic Minerals is launching upward on Friday after the company broke a five-session trading halt with transitional news.

It has entered an agreement with Goldvalley Brown Stone that will see Goldvalley provide up to $10 million in non-recourse funding for production at the Kat Gap project in Western Australia. Though, the deal is still subject to several conditions.

The Kat Gap project houses around 90,000 ounces of gold, according to Classic Minerals.

Goldvalley has agreed to fund the extraction and processing of ore from the project in parcels of 100,000 tonnes. Revenue from each parcel will help to fund the next.

The pair have agreed to split the project’s net profits 70% to 30%, with Classic Minerals walking away with the larger share.

The company’s chair John Lester commented on today’s news, saying:

The Kat Gap project has reached an exciting stage with a clear path to mining and processing of gold now laid out.

We have begun the transition from explorer to producer and shareholder patience will be rewarded.

The path ahead

The $10 million will be provided over 12 months. Mining will continue under the arrangement until 500,000 tonnes at a minimum grade of 2.85 grams of gold per tonne has been mined and processed.

Classic Minerals also noted its project management plan should be granted approval any minute now. That will allow operations at Kat Gap to kick off.

Goldvalley managing director Yuzheng Xie also commented on the news driving the Classic Minerals share price today:

Classic has carefully developed a very worthy gold project and coupled with Goldvalley’s expertise in mining and marketing, the project now has the attributes to bring it to fruition.

The post Why did ASX gold share Classic Minerals just explode 290%? appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper 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.

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The Bitcoin (CRYPTO: BTC) price has edged higher over the past 24 hours.

The world’s original crypto is up 0.5% to US$19,370 (AU$28,562). That leaves Bitcoin down 3.5% over the past week and a hefty 59% lower in 2022.

What’s happening?

Bitcoin was trading for US$24,887 as recently as 15 August. The 21% collapse since then mirrors the 9% drop in the tech-heavy NASDAQ over that same period.

The token, and most every altcoin, has been closely correlated with the movements of risk assets, like high-growth tech shares, throughout 2022. The Bitcoin price moves, both up and down, tend to be significantly larger than what we see on the NASDAQ, as witnessed by the much bigger fall since 15 August.

The past week’s selling pressure has come as investors re-evaluate their holdings amid the outlook for further interest rate rises ahead. The higher rate environment has not proven friendly to cryptos so far.

Sinking Bitcoin price stirs sleeping whales

With Bitcoin falling below the key psychological level of US$20,000, it looks to have stirred some long dormant whales into selling their outsized holdings. And that’s likely putting more downward pressure on the Bitcoin price.

On Wednesday, CryptoQuant CEO Ki Young Ju noted that a Bitcoin whale had moved 15,000 tokens to exchange wallets. At this week’s prices, that works out to some US$290 million.

“8-year-old 15k Bitcoin moved across ten days, and some of them were sent to Kraken,” he tweeted.

Looking at Wednesday’s charts, the Bitcoin price tumbled from US$19,815 to US$18,647 in less than eight hours. Certainly not having a whale of a time.

According to CryptoQuant, it’s often a bearish sign when long dormant, large Bitcoin holders move their tokens to exchanges.

Investors waiting for the token to reclaim its 10 November record highs of US$68,790 may have to be patient.

The post Why the Bitcoin price is not having a ‘whale of a time’ lately appeared first on The Motley Fool Australia.

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More reading

• Why Bitcoin, Ethereum, and Solana were up Thursday morning
• The Ethereum price just dropped 8% despite Merge progression
• The Bitcoin price just fell below US$19,000 What’s happening?
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• Is El Salvador’s great Bitcoin experiment fizzling or just getting started?

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 positions in and has recommended Bitcoin. The Motley Fool Australia has positions in and has recommended Bitcoin. 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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