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The Novonix Ltd (ASX: NVX) share price is taking off after the company released its financial year 2022 report this afternoon.

The S&P/ASX 200 Index (ASX: XJO) battery materials and technology stock opened 1.7% lower at $2.29 on Wednesday before settling to trade relatively flat for much of the morning.

But all that changed after the release of the company’s results. The Novonix share price is currently swapping hands for $2.39, 2.58% higher than its previous close.

Novonix share price lifts on annual report

Here are the key takeaways from the ASX 200 favourite’s full-year results:

• Revenue came in at $8.4 million – a 61% increase on that of the prior corresponding period (pcp)
• Total loss for the year nearly quadrupled to reach $71.4 million – down from the pcp’s $18 million loss
• Earnings per share (EPS) slumped to a 15.4 cent loss
• Cash flows from operating activities came to a $40.3 million outflow – down from an $8.2 million outflow
• Cash and equivalents increased 51.5% to $207 million at the end of FY22

Looking at the company’s major segments, its battery technology business outperformed. It brought in $10 million of income in FY22 and posted an $8.7 million loss. Its revenue grew over every quarter of the financial year just been.

Meanwhile, the company’s battery materials segment saw $531,850 of income and posted a $28.5 million loss.

Novonix noted its earnings for FY22 were in line with management’s expectations.

What else happened in FY22?

The company increased its investment in the development of cathode synthesis technology and continued working on battery pack systems to support microgrids in FY22.

Meanwhile, it made progress toward expanding its production capacity for battery-grade synthetic graphite material.  

US energy giant Phillips 66 (NYSE: PSX) made a strategic investment in the company in August 2021, forking out around $203 million for a 16% stake. The Novonix share price rocketed 15.5% on the back of the news.

Finally, the company was admitted to the ASX 200 in December and began trading on the Nasdaq Stock Market in February.

What’s next?

The company didn’t provide any new earnings guidance today. Though, it did outline its growth strategy.

Novonix is focusing on scaling its production capacity of synthetic graphite. It’s on track to reach a capacity of 10,000 tonnes a year in 2023 and plans to expand that to 150,000 tonnes by 2030.

It will also continue working to develop sustainable technologies, pursue strategic partnerships with international battery companies, and grow its intellectual property pipeline.

It believes doing so will maintain its technology leadership throughout the electric vehicle battery and energy storage supply chain.

Novonix share price snapshot

This afternoon’s turnaround hasn’t been enough to boost the Novonix share price into the longer-term green.

The stock is currently trading for 77% less than it was at the start of 2022. It has also dumped 47% since this time last year.

For comparison, the ASX 200 has fallen 8% year to date and 7% over the last 12 months.

The post Novonix share price lifts despite full-year loss deepening to $71 million appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Why is the Novonix share price tumbling 6% on Monday?
• Why is the Novonix share price getting hammered on Wednesday?
• How close is ASX tech share Novonix to becoming profitable?
• Why did the Novonix share price nosedive 6% today?

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 Splitit Ltd (ASX: SPT) share price is suffering today amid the release of the company’s half-year results for FY22.

Splitit shares are trading for 17.8 cents at the time of writing. Shortly after open on Wednesday, however, shares in the buy now, pay later provider fell 8% from the previous closing price of 18 cents.

Let’s go over the report highlights.

What did Splitit report?

• Merchant sales volume $US194.8 million (AU$283.40 million), up 12.92% year over year (yoy)
• Net transaction margin up 1.3% from 0.3% in FY21
• Earnings before interest, taxes, depreciation, and amortisation (EBITDA) up 34.99% yoy to a loss of US$8.79 million (AU$12.79 million)
• Net loss after tax down 35% yoy to US$12.25 million (AU$17.82 million)

Some of the year’s highlights included a new growth strategy for the company’s instalments-as-a-service tech, with a greater emphasis on sourcing new partners.

Its partnership program reportedly built strong momentum in 2HFY22, with an enhanced partnership with BlueSnap and forming a new partnership with Everyware.

Nandan Sheth joined the company as the new Splitit CEO and managing director. While Dan Charron joined as a non-executive director.

What else happened in FY22?

The company also announced a placement of 64.4 million new shares at $0.175 per share, for a total of around AU$10.5 million. Splitit directors and c-level managers have agreed to subscribe a further AU$775,000.

The placement also allows investors to purchase stock options, with one free-attaching option offered for every two new shares purchased. Around 32.2 million options will be offered with an exercise price of AU 20 cents each and an expiry date of 30 months from the date of issue.

Funds will be used to drive the company’s growth, expand its white-label instalments-as-a-service solution, and develop its buy now, pay later credit facility for merchants.

What did management say?

Splitit CEO and managing director Nandan Sheth said:

Splitit’s rejuvenated growth strategy positions it to power the next generation of BNPL infrastructure for the existing payments ecosystem. Under this strategy, Splitit has already made good progress accelerating its pathway to profitability in the half year, including net transaction margin growth to 1.25% and a 22% reduction YoY in operating expenditure.

What’s next?

The company said it is eyeing transaction margin and cost efficiencies to help it reach profitability. This will be helped by revising its $150 million receivables contract with Goldman Sachs, which is expected to save the company an additional US$5.3 million (AU$7.71 million) over two years.

Splitit will continue onboarding major global merchants and work with additional major payment providers.

The end goal of this strategy is to expand its white-label instalments-as-a-service offering across a broad and growing merchant base.

Splitit share price snapshot

The Splitit Payments share price is down 29% year to date. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is down 7.8% over the same period.

The company’s market capitalisation is approximately $83.68 million.

The post Splitit share price down amid $17 million loss appeared first on The Motley Fool Australia.

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More reading

• Why is the Splitit share price frozen on Friday?
• 3 ASX tech shares surging more than 10% today
• Why is the Sezzle share price surging 8% on Wednesday?

Motley Fool contributor Matthew Farley 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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It’s the final day of ASX reporting season and as per usual, we’ve seen a flock of ASX small-cap shares wait until the last day to drop results.

Market sentiment has been mixed today, with the S&P/ASX 200 Index (ASX: XJO) printing a 0.22% loss at the time of writing.

But the S&P/ASX All Technology Index (ASX: XTX) has found its groove, jumping 1.43% in afternoon trade.

Here are three small-cap ASX tech shares making moves today after reporting full-year FY22 results.

Novatti Group Ltd (ASX: NOV)

The Novatti share price is holding its ground today as investors digest the payment company’s FY22 results.

At the time of writing, Novatti shares are trading at yesterday’s closing price of 20 cents apiece after earlier recording a 5% jump to 21 cents a share around midday. This gives the company a current market capitalisation of $68 million.

In FY22, Novatti generated record revenue of $32.6 million, almost double the prior year. This came on the back of four consecutive record quarters of revenue.

During the year, Novatti completed an $8 million acquisition of ATX, a Malaysian fintech company.

It also acquired a 19.9% strategic stake in accounting software company Reckon Limited (ASX: RKN).

These acquisitions and associated capital raisings meant that the company’s share count increased by 38% in FY22.

Across the year, Novatti burned through $13.0 million of operating cash flows and delivered an expanded net loss of $16.6 million.

Ansarada Group Ltd (ASX: AND)

Unlike Novatti, the Ansarada share price is finding itself under pressure today, sliding 6% at the time of writing to $1.72.

The M&A software company handed in its FY22 results this morning, headlined by a 44% jump in revenue growth. 

However, some of this growth was acquisitive after Ansarada completed the acquisition of TriLine GRC in late October 2021.

The company’s customer count now stands at 5,251, up 52% from 3,997 at the end of FY21.

Ansarada remains debt free and generated $12.6 million of adjusted cash flow from operations in FY22, up 38% from the prior year.

Despite the positive cash flow, Ansarada delivered a net loss of $8.6 million as the company continues to scale.

The company noted that M&A volumes peaked mid-year and have been subdued since, impacting the start of FY23. It expects deal volumes to recover in the second half of FY23.

Credit Clear Ltd (ASX: CCR)

Last but not least, Credit Clear is another small-cap ASX tech share reporting results today.

At the time of writing, the Credit Clear share price has climbed 2.53% to 40.5 cents. This bumps up the company’s market cap to $119 million.

On the surface, the company delivered rapid top-line growth in FY22, with revenue up 95% to $21.4 million. However, the majority of this growth was acquisitive. 

In February, Credit Clear finalised the $46 million acquisition of ARMA, a provider of debt recovery solutions in Australia and New Zealand. At the time, management said ARMA was slated to increase Credit Clear’s revenue by 140% on a pro-forma FY21 basis.

The company ended the financial year with 696 active clients and 831,000 active customer accounts. Both of these metrics more than doubled in FY22.

For the full year, Credit Clear reported net cash operating outflows of $5.9 million. Its net loss expanded from $8.0 million in the prior year to $12.6 million in FY22.

The company ended the year with a revenue run rate of $37.4 million. It noted it was operationally profitable in May and June, which has continued into the first quarter of FY23.

The post 3 ASX tech shares on the move following earnings results appeared first on The Motley Fool Australia.

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More reading

• Top ASX shares to buy in August 2022

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 positions in and has recommended Ansarada Group Limited. The Motley Fool Australia has positions in and has recommended Ansarada Group 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 Nickel Industries Ltd (ASX: NIC) share price is in the red on Wednesday after the miner reported its half-year FY22 earnings.

The Nickel Industries share price is down 3.41% to 99 cents at the time of writing.

Let’s take a look at the miner’s report.

Nickel Industries share price slips despite record results

The company (formerly known as Nickel Mines) said it had delivered a record half-year result due to its rapid-expanding mining operations.

Nickel Industries has an 80% interest in three operational projects — Hengjaya Nickel, Ranger Nickel, and Angel Nickel.

It is in the process of buying two more projects, namely 70% of Oracle Nickel and 100% of Siduarsi Nickel-Cobalt.

The key metrics in the 1H FY22 report are as follows:

• Sales revenue: Up 78% on the prior corresponding period (pcp) of 1H FY21 to US$515 million
• Gross profit: Up 73% pcp to US$161.2 million
• Operating profit: Up 58% pcp to US$140.1 million
• Profit after tax: Up 43% pcp to US$118.4 million
• Earnings before interest, tax, depreciation, and amortisation (EBITDA): Up 37% pcp to $126.9 million
• 26,733 tonnes of nickel metal produced from 195,706 tonnes of nickel pig iron (NPI)
• 25,906 tonnes of nickel metal equivalent sold
• Net assets: $1,702.3 million compared to $1,329.9 million as at 31 December
• Interim dividend of 2 AU cents per share, payable on 14 September

What else happened in 1H FY22?

The big thing going on at Nickel Industries is its acquisition of a 70% interest in the Oracle Nickel project in Central Sulawesi, Indonesia for US$525 million.

It acquired the first 30% during 1H FY22, funded through a US$212M capital raising. This included a $106 million share placement to the owner, Shanghai Decent, and another $106 million institutional placement at A$1.37 per share.

The company also offered a share purchase plan for Australian and New Zealand shareholders to raise A$18 million. It was well oversubscribed at A$56 million but the company withdrew the offer in the best interests of shareholders due to market volatility in March.

The Nickel Industries share price declined by 18% during March to close at $1.26 on 31 March.

The company also made US$81.2M in construction payments ahead of schedule to expedite construction and enable early commissioning of Oracle. This payment forms part of the $525 million overall purchase.

Nickel Industries now expects the first rotary kiln-electric furnace (RKEF) smelting line at Oracle Nickel to commence commissioning in October. A second one should be ready to go in November. This is well ahead of the contracted project delivery date of February 2023.

Nickel Industries noted a “material profit contribution” from the Hengjaya Mine, also in Central Sulawesi, Indonesia, in 1H FY22. EBITDA from this project was up 140% to $27.6 million. This follows “significant investment in mine expansion initiatives over the last 2 years”.

Nickel Industries stated:

These improvement and expansion initiatives were undertaken to help unlock the full strategic value of the Hengjaya Mine’s large limonite and saprolite resources and as a result, Hengjaya Mine is expected to make a material, long-term financial contribution to the overall Group financial performance.

The Angel project became operational during the half, and commercial sales are now underway.

Also during 1H FY22, the company signed a binding definitive agreement for the staged 100% acquisition of the Siduarsi Nickel-Cobalt project in Papua province, Indonesia.

Lastly, the company underwent a name change following shareholder approval on 31 May.

Regarding the name change, the company stated:

While the Company’s origins are that of an explorer and miner of nickel ore, in recent years the Company has transitioned into a globally significant downstream processor of nickel metal and this change of name is considered to reflect the underlying nature of the Company’s current core operations.

With the Company’s Angel Nickel project now in the late stages of its commissioning phase and
the Oracle Nickel project in the advanced stages of its construction, the Company’s revenue and earnings base will increasingly be derived from activities unrelated to mining, but rather driven from a growing suite of downstream “industrial-style” processing assets.

What did management say?

In its presentation, the company said its record performance came down to “strong and consistent” RKEF production from the Hengjaya and Ranger projects, the commissioning and ramp-up of the Angel project, higher realised nickel pig iron prices, and strong EBITDA margins (US$6,122/t).

The company said this was “despite cost pressures from rising nickel ore, coal and electricity prices”.

It stated: “The Oracle Nickel project, like the Angel Nickel project, is expected to transform the Company’s nickel production profile, with a nameplate capacity in excess of 100,000 tonnes (of nickel in NPI).”

What’s next?

This month, Nickel Industries issued US$225 million of senior secured notes “leaving the Company well positioned to complete the acquisition and ramp-up of Oracle Nickel”.

The notes have an interest rate of 10% and mature on 23 August 2025.

Nickel Industries share price snapshot

Today’s share price slide might be partly related to the nickel price dropping 1.24% overnight to US$21,273 per tonne.

According to Trading Economics data, this extends the commodity’s decline in value over the past month by 9.56%.

However year over year, the nickel price is still 8.6% higher.

The Nickel Industries share price is down 33% in the year to date and down 2% over the past 12 months.

The post Nickel Industries share price dips despite 40% profit surge appeared first on The Motley Fool Australia.

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More reading

• 3 ASX tech shares on the move following earnings results
• Why is the Qantas share price beating the ASX 200 on Wednesday?
• Why is the Santos share price sliding lower today?
• Why is the Woolworths share price in the red on Wednesday?
• Can the Bitcoin price reach $100,000?

Motley Fool contributor Bronwyn Allen 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 Qantas Airways Limited (ASX: QAN) share price is outpacing the ASX 200 today, but what’s causing this superiority?

Qantas shares are currently trading hands at $5.34 apiece, up 0.95% on yesterday’s closing price, while the S&P/ASX 200 Index (ASX: XJO) is down 0.2% at the time of writing.

Since releasing its FY22 results last Thursday, the Qantas share price has risen almost 10% and continues to gather pace.

Today’s momentum may have been propelled by updates provided by Flight Centre Travel Group Ltd (ASX: FLT) and Webjet Ltd (ASX: WEB).

Webjet announces strong growth in bookings

As reported by my colleague Mitchell Lawler, Webjet disclosed plenty of positive results for the first half of FY23.

Webjet advised today that bookings are currently tracking at 95% of pre-pandemic levels and all three of its business segments are profitable for the FY23 trading year to date. This bodes well for Qantas as the upward trend of travel bookings means more flights.

Webjet management also flagged that tourism is returning to Australia and New Zealand, which is another great sign for Qantas.

Interestingly, the Webjet share price is 9% higher at the time of writing while the Flight Centre share price is up 3% today.

Flight centre responds to media speculation

Yesterday, Flight Centre addressed rumours of possible merger and acquisition activity, as covered by my colleague Brooke Cooper.

The Australian reported that US travel management giant Altour could be a takeover target for Flight Centre. Altour recorded more than $3 billion in sales in 2019 before the pandemic hit.

In response to the rumours, Flight Centre is keeping details close to its chest, advising it will not respond to any media speculation.

Management, however, did advise they would consider acquisition opportunities to support organic growth.

Qantas share price snapshot

Despite recording a massive loss of $1.9 billion in FY22, the Qantas share price has managed to rise by 10% since the figure was revealed.

Unlike many other ASX growth stocks, the Qantas share price has risen by 5% in the last year and is rallying almost 17% higher across the past month. In contrast, the S&P/ASX 200 Index (ASX: XJO) has fallen by 7% in the last year and declined by 0.03% in the past month.

It seems like generally positive news for online travel agencies has flowed onto Qantas, however, investors ought to be mindful that airline stocks tend to be cyclical.

Qantas’ current market capitalisation is around $10.1 billion.

The post Why is the Qantas share price beating the ASX 200 on Wednesday? appeared first on The Motley Fool Australia.

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More reading

• Webjet share price ascends 11% amid profitable start to FY23
• Here are the top 10 ASX 200 shares today
• Flight Centre share price up amid M&A rumours
• These are the 10 most shorted ASX shares
• Is the $400m buyback a good thing for Qantas shares?

Motley Fool contributor Raymond Jang 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 Flight Centre Travel Group Limited and Webjet 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 Santos Ltd (ASX: STO) share price is sliding on Wednesday despite no announcements from the company.

At the time of writing, the energy producer’s shares are down 1.51% to $7.85.

Let’s take a look at what could be impacting Santos shares today.

Why are Santos shares cooling off?

Investors are offloading the Santos share price following a broader fall across the S&P/ASX 200 Energy Index (ASX: XEJ) today.

The benchmark index comprising 11 companies operating in the oil, gas and coal sector is retreating 2.52% to 11,038.6 points.

This comes after the oil prices slipped overnight as looming rate hikes from the United States Federal Reserve sparked concerns of an economic slowdown.

The central bank is looking at ramping up its aggressive monetary tightening policy to combat high inflation. Economists are predicting a 0.75% interest rate hike for September.

Currently, the West Texas Intermediate (WTI) is fetching at $92.23 a barrel.

In addition, investors will be watching closely the OPEC+ meeting next Monday. This will likely discuss plans to keep energy prices in check amid soaring inflation.

OPEC meetings are attended by representatives from 13 oil-rich nations and are responsible for 40% of the world’s oil supply.

With oil prices backtracking, this will likely put a squeeze on Santos’ margins and its peers.

Shares in rival Woodside Energy Group Ltd (ASX: WDS) are also falling for the day, down 3.64% to $34.57.

Santos share price summary

It’s been a rollercoaster 12 months for the Santos share price despite recording a 29% gain for the period.

The company’s shares reached a 52-week high of $8.86 on 8 June before capitulating more than 20% in the following weeks.

Since then, the share has risen on the back of the company’s robust half-year results.

Santos presides a market capitalisation of approximately $26.34 billion, making it the second biggest energy company on the ASX.

The post Why is the Santos share price sliding lower today? appeared first on The Motley Fool Australia.

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• Why is the Beach Energy share price lagging its sector on Tuesday?
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• 5 things to watch on the ASX 200 on Tuesday
• What’s going on with the Santos share price today?

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 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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It’s been a pretty grim day for the S&P/ASX 200 Index (ASX: XJO) so far this Wednesday. Although the ASX 200 has recovered somewhat from the deep falls we saw this morning, the index still remains down by 0.1% at present. But the Woolworths Group Ltd (ASX: WOW) share price is faring worse.

The ASX 200 consumer staples share and supermarket giant closed at $36.63 a share yesterday. But today, Woolworths is going for $36.40 at the time of writing, down 0.64% on yesterday’s close.

So why are Woolies shares underperforming the market today?

Well, it does seem strange what is happening to Woolies shares today. However, there is a perfectly rational explanation for this share price fall, which is one of the best reasons to have a share go down in value. Woolworths has just traded ex-dividend for its upcoming final dividend payment.

Woolworths share price prepares to pay out latest dividend

When the grocer dropped its FY22 earnings last week, Woolworths declared a final dividend of 53 cents per share, fully franked. That came in above the last payment shareholders received – the interim dividend of 39 cents per share from April. But it also represented a slight 3.64% drop from FY21’s final dividend of 55 cents per share. 

But, as we warned investors yesterday, if this dividend was to be received by an investor, they needed to own Woolworths shares before today, the ex-dividend date. Any new shareholders from this session onwards will not be eligible.

When an ASX share trades ex-dividend, it usually results in a share price fall. That’s because the value of this dividend for new investors has left the company’s share price. So that explains why the Woolworths share price is under pressure today.

Investors can now look forward to receiving Woolworths’ 53 cents per share final dividend on 27 September next month. But investors have until this Friday to decide if they wish to receive the dividend in cash, or participate in Woolworths’ dividend reinvestment plan (DRP) and receive new shares instead.

At the current Woolworths share price, this ASX 200 supermarket operator has a dividend yield of 2.52%.

The post Why is the Woolworths share price in the red on Wednesday? appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Wednesday
• Keen to pocket the Woolworths dividend? You’d better be quick!
• 5 ASX 200 shares turning ex-dividend on Wednesday
• Goldman Sachs says Woolworths share price has huge upside potential
• Why City Chic, Flight Centre, Perpetual, and Woolworths shares are sinking

Motley Fool contributor Sebastian Bowen 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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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.

The Bitcoin (CRYPTO: BTC) cryptocurrency reached an all-time high of roughly $68,800 in November of 2021. Since then, a marketwide retreat from high-risk investment ideas drove the digital currency back to approximately $20,300 per coin — a 70% price drop in nine months. Investors are worried about inflation, geopolitical tensions, and the continued fallout from the coronavirus pandemic.

Some cryptocurrency bears believe that this could be the beginning of the end for digital currencies. However, Bitcoin investors with diamond hands continue to HODL their crypto coins, expecting another upswing in this volatile market.

There are differences of opinion, and only time will tell exactly how Bitcoin’s chart will shape up in the long run. Crypto investors are scratching their heads, wondering whether Bitcoin will ever be worth $100,000 per coin.

I believe that the answer to that question is a resounding “yes.” Bitcoin is almost guaranteed to reach the $100,000 price point. But it could take a couple of years to get there, and you should be prepared for some rough weather on that trip.

Why is Bitcoin valuable at all?

Bitcoin’s value is based on its limited supply. There will only ever be 21 million Bitcoins, and 19.2 million of those digital coins have already been created. The U.S. money supply doubled between 2013 and 2022. Bitcoin’s supply will never grow more than 9.8% from today’s level.

This quality makes Bitcoin similar to gold, which cannot be created in a lab and has limited supplies available even if we eventually dig up every last ounce of it. Limited supply plus rising demand equals higher prices over time.

Many investors and developers see Bitcoin as a direct replacement for gold in the long run. If that works out, it’s a huge market opportunity. All gold ever mined is worth at least $9 trillion today, according to estimates by online coin dealer Golden Eagle Coin. If you assume that physical gold holds on to three-quarters of the global value-storage market it owns today, Bitcoin could be worth as much as $2.25 trillion when that balance is struck.

That’s up from $386 billion today, which leaves room for more than a fivefold increase in Bitcoin prices — landing just north of the $100,000 mark in the end. Of course, stingier or more generous estimates will move that target price back and forth, but that’s the ballpark we’re talking about.

And I’m not sure that the gold-replacement plan even accounts for the direct utility Bitcoin offers in frictionless digital payments. When did you last pay for your groceries with a gold coin? Sure, you probably aren’t using Bitcoin that way either, but Amazon‘s Whole Foods Market actually accepts cryptocurrency payments today. A few years down the road, crypto-based payments could become as popular as credit cards and Zelle payments are today.

Where is Bitcoin going?

So the $100,000 price target actually looks like low-hanging fruit for Bitcoin. I’m assuming that cryptocurrencies are here to stay and that grandpa Bitcoin will remain the largest and most trusted cash-replacement option in the market for many years to come.

At the same time, I know that there’s a bumpy road ahead and many things can still go wrong. Proper regulations and taxation systems are still under development in pretty much every country, including America. When lawmakers nail down their long-term rulebooks, it’ll still take time to get consumers and businesses to embrace digital currencies. And of course, I can’t guarantee with absolute certainty that Bitcoin won’t be replaced by another cryptocurrency with similar goals and superior technology at some point.

So Bitcoin seems highly likely to ascend to that lofty $100,000 price target, but it’s a risky trip with plenty of potholes. Don’t expect a 400% return by the end of this year, or over the next couple of years. As the crypto market matures, the wild and unpredictable price swings we’re getting so used to will become milder. Bitcoin has a lot of untapped growth left to explore, as long as you have plenty of time and unshakable patience. Otherwise, you might find this cryptocurrency (and any cryptocurrency on the market today) too frustrating in this market.

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

The post Can the Bitcoin price reach $100,000? appeared first on The Motley Fool Australia.

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More reading

• Why Bitcoin, Ethereum, and Dogecoin are falling today
• 1 cryptocurrency to buy and hold forever
• Here’s why the Bitcoin price just dipped back below US$20,000

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin. The Motley Fool Australia has no position in any of the stocks mentioned. Anders Bylund has positions in Amazon and Bitcoin. 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 Pointsbet Holdings Ltd (ASX: PBH) share price is tumbling on the back of its full-year earnings today. In fact, the bookmaker is currently the worst-performing stock on the S&P/ASX 200 Index (ASX: XJO).

The company’s shares opened Wednesday’s session 4.5% lower at $3.14 before diving to a low of $2.87, a 12.7% loss.

It has since recovered slightly to trade at $2.96 right now, 10.03% lower than its previous close.

Let’s take a closer look at the ASX 200 bookmaker’s results for financial year 2022 (FY22).

Pointsbet share price plunges on FY22 earnings

As The Motley Fool Australia reported earlier, Pointsbet boasted $5 billion of sports betting turnover and brought in $296.5 million of revenue – a 52% year-on-year increase – last financial year.

On top of that, its gross win – the amount received from clients placing losing bets less the amount paid to clients placing winning bets ­– rose 41% to $497.8 million. Its gross win margin also increased, lifting 0.6% to 9.9%.

However, that wasn’t enough to elevate the company’s bottom line into the green.

It posted a $267 million after-tax loss for FY22 while its earnings before interest, tax, depreciation, and amortisation (EBITDA) sank to a $243.6 million loss.

But management assured the market on the company’s future. Pointsbet chair Brett Paton and CEO Sam Swanell commented:

It is clear that North America will deliver the vast majority of regulated global gaming growth over the next decade.

We have now scaled our team, to access the in-house technology and market access to successfully compete in North America and have developed best in class partnerships … which will help accelerate our trajectory to take advantage of this enormous opportunity.

The company also announced the appointment of Edward Hartman today. The former Fox Corporation executive will take on the role of chief strategic officer next month.

Today’s fall included, the Pointsbet share price is trading 58% lower than it was at the start of 2022. It has also dumped 71% since this time last year.

For comparison, the ASX 200 has fallen 8% year to date and 7% over the last 12 months.

The post Pointsbet share price tumbles 10% as full-year losses deepen appeared first on The Motley Fool Australia.

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More reading

• Pointsbet share price in focus as FY22 revenue lifts 52%
• Why is the PointsBet share price rising on Tuesday?
• Here are the top 10 ASX 200 shares today
• Broker tips PointsBet share price to jump 60%
• Here are the top 10 ASX 200 shares today

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 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 Tabcorp Holdings Limited (ASX: TAH) share price is one of the worst performers on the S&P/ASX 200 Index (ASX: XJO) on Wednesday.

But at least part of its tumble can be easily explained. The stock is trading ex-dividend today.

At the time of writing, the Tabcorp share price is trading at 94.5 cents, 6.44% lower than its previous close.

For context, the ASX 200 is down 0.25% right now while the company’s home sector – the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) – has lifted 0.04%.

So, what else might be weighing on the gambling and entertainment services provider’s stock today? Let’s take a look.

What’s weighing on the Tabcorp share price today?

The Tabcorp share price is underperforming majorly on Wednesday as the company trades ex-dividend.

That means new investors have missed out on their chance to receive the company’s 6.5 cent, fully franked final dividend, declared last week.

Generally, a company’s share price falls relatively in line with the value of its upcoming dividend when they pass its ex-dividend date.

And indeed, the Tabcorp share price has dumped 6.5 cents at the time of writing.

However, there is one more happening that might be dragging on the stock today.

Bookmaker Pointsbet Holdings Ltd (ASX: PBH) is struggling on the market today after releasing its financial year 2022 earnings this morning.

The Pointsbet share price is down 10% right now, making it today’s worst-performing ASX 200 stock.

Of course, as both companies work in the betting and entertainment space, Pointsbet’s poor performance may be dinting sentiment for Tabcorp shares.

Today’s tumble included, the Tabcorp share price is 6% lower than it was at the start of 2022 and 4% higher than it was this time last year. That’s adjusting for the spin-out of the company’s lotteries and Keno business into the Lottery Corporation Ltd (ASX: TLC).

Meanwhile, the ASX 200 has fallen 8% year to date and 7% over the last 12 months.

The post Why is the Tabcorp share price diving 6% on Wednesday? appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Wednesday
• 5 ASX 200 shares turning ex-dividend on Wednesday
• Here are the 3 most heavily traded ASX 200 shares on Friday
• Tabcorp share price rises 5% as management focuses on ‘pursuing growth’

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 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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