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The Bitcoin (CRYPTO: BTC) price is down 1% over the past 24 hours.

The world’s first crypto is currently trading for US$21,291 (AU$30,886).

That puts the Bitcoin price down 11% since this time last week and down 55% year-to-date.

But not every crypto is in the red today.

In fact, these two lesser-known altcoins just popped 16% and 18% higher.

First up…

Riding high on fan tokens

The Chiliz (CRYPTO: CHZ) price is up 18% over the past 24 hours, currently trading for 22.4 US cents.

Not only do those gains leave the Bitcoin price moves in the dust today, but Chiliz is also up 8% over the past week and ‘only’ down 24% year-to-date.

The token was launched in 2019. Like most cryptos it reached all-time highs in 2021, topping out at 89.1 US cents on 13 March last year. A bit of maths tells us that puts Chiliz down 75% from its highs, a bit steeper than the 69% retrace in the Bitcoin price from its 10 November 2021 all-time highs.

So what is Chiliz?

CoinMarketCap explains:

Chiliz is the leading digital currency for sports and entertainment. It operates the blockchain-based sports entertainment platform Socios, which enables users to participate in the governance of their favourite sports brands… For sports clubs and associations, fan tokens offer a way of connecting with their fans and unlocking new revenue streams.

At the current price, Chiliz has a market cap of US$1.35 billion, making it the 41st biggest in virtual circulation.

Which brings us to…

Also smashing the Bitcoin price gains today

The second altcoin rocketing higher today is EOS (CRYPTO: EOS).

EOS has gained 16% since this time yesterday, currently trading for US$1.78. The crypto is up 40% over the past seven days and down 43% so far in 2022, beating the Bitcoin price on all those metrics.

The EOS blockchain was launched in 2018. Although prices charged higher in 2021 alongside the wider crypto market rally, EOS hit all-time highs of US$22.89 on 29 April 2018. Despite the past week’s strong performance, it’s still down 92% from those highs.

If you’re unfamiliar with EOS, CoinMarketCap tells us:

The EOS Network is an open-source blockchain platform that prioritises high performance, flexibility, security, and developer experience… EOS is the market’s most scalable, divisible, and programmable digital currency. EOS is a Delegated Proof of Stake (DPoS) network where stakeholders have the authority to select node operators.

At the current price, EOS has a market cap of US$1.8 billion, placing it at number 33 on the list of top 100 cryptos.

As for the number one crypto?

At the current Bitcoin price, it has a market cap of US$407.2 billion.

The post The Bitcoin price is down today but these 2 cryptos just rocketed 17% appeared first on The Motley Fool Australia.

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More reading

• Why Ethereum, Solana, and Dogecoin are falling today
• Cryptos retreat. Is the Bitcoin price rally over?
• 3 cryptos I would regret not buying on the dip
• This company profited $2.6 billion from crypto. What is it investing in now?
• 2 cryptos that could lead the market recovery

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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The Chalice Mining Ltd (ASX: CHN) share price has tumbled 13% since this time last week despite no news having been released by the company.

Meanwhile, the S&P/ASX 200 Materials Index (ASX: XMJ) – the company’s home sector – has traded relatively flat, lifting just 1.75% in that time.

The Chalice Mining share price is $4.24 right now, 0.7% lower than its previous close. For context, the S&P/ASX 200 Index (ASX: XJO) is sinking 1.07% today.

So, what’s been going on with the ASX mineral exploration stock lately? Let’s take a look.

What’s going on with the Chalice Mining share price lately?

Chalice Mining has had a rocky run on the ASX lately, culminating in a 13% tumble in its stock over the last week.

Interestingly, the market hasn’t heard news from the miner for three weeks now. At that time, it agreed to get started on the second stage of its joint venture with Venture Minerals Limited (ASX: VMS).

The second stage will see Chalice Mining spend $2.5 million on exploration at the South West Project. In return, it will receive an additional 19% holding in the project – bringing its total ownership to 70%.

That announcement was the last in a string of good news that saw the Chalice Mining share price gain 34% between the end of June and its early-August peak.

Much of the news released over that time also related to a newly discovered nickel-copper-platinum zone at the company’s Julimar Project.

But any residual excitement from such announcements seems to have dissipated over the last seven days. Fortunately (or unfortunately), the stock is well versed in trading in the red.

It has slumped 55% since the start of 2022. Meanwhile, the ASX 200 has dumped 8% and the materials sector has fallen 4%.

The Chalice Mining share price is also currently 59% lower than its 52-week high of $10.48, reached in November.

The post Why has the Chalice Mining share price dived 13% in the past week? appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Why is the Allkem share price acing it on Tuesday?
• Why is Lake Resources underperforming other ASX 200 lithium shares right now?
• Own CBA shares? $31b of the bank’s home loans face increasing climate risks
• Is the Flight Centre share price a buy ahead of Thursday’s FY 2022 earnings report?

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 S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and dropped deep into the red. In afternoon trade, the benchmark index is down 1.05% to 6,972.7 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Credit Corp Group Limited (ASX: CCP)

The Credit Corp share price is down 6% to $19.72. Investors have been selling this debt collector’s shares after it announced customer remediation plans. Credit Corp realised that it has charged people interest that it shouldn’t have done. The total refund is expected to be $4 million at the most.

Endeavour Group Ltd (ASX: EDV)

The Endeavour share price is down 12% to $7.29. This follows the release of the drinks company’s full year results for FY 2022. Endeavour reported flat revenue of $11.6 billion and an 11.2% increase in net profit after tax to $495 million. This was in line with consensus estimates. The decline appears to have been triggered by a weakening trading trend into early FY 2023 for its retail segment.

Kogan.com Ltd (ASX: KGN)

The Kogan share price is down 8% to $3.49. This follows the release of another disappointing result from the ecommerce company. Kogan reported an 8% decline in revenue to $718.5 million and $2.9 million net loss. The company also revealed that its active customers had slipped back under 4 million.

Service Stream Limited (ASX: SSM)

The Service Stream share price is down over 16% to 85.2 cents. This morning the essential services company reported a 94.5% increase in revenue to $1,563.8 million but a 19.4% decline in adjusted net profit after tax to $31.4 million. Service Stream’s top line was boosted by the acquisition of Lendlease Services late last year.

The post Why Credit Corp, Endeavour, Kogan, and Service Stream shares are dropping appeared first on The Motley Fool Australia.

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More reading

• Service Stream share price crashes 19% on ‘challenging’ FY22
• Why is the Credit Corp share price crumbling 6% today?
• Wall Street Slumps | Pilbara Minerals stunning profits | Kogan shares look cheap, Altium shares less so…
• Endeavour share price drops 9% despite $495 million profit
• Kogan share price tumbles 9% on first ASX loss

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 Kogan.com ltd. The Motley Fool Australia has positions in and has recommended Kogan.com 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 S&P/ASX 200 Index (ASX: XJO) is backing up yesterday’s losses with another day of red ink so far this Tuesday. At the time of writing, the ASX 200 has lost a depressing 1.06% and is back down under 7,000 points.

But rather than dwelling on those numbers, let’s instead take stock of the ASX 200 shares currently topping the share market’s trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Tuesday

Lake Resources N.L. (ASX: LKE)

Our first ASX 200 share up today is lithium stock Lake Resources. So far this Tuesday, a hefty 16.15 million Lake shares have bounced around the ASX. There’s been no fresh news or announcements out of the company today.

So we can probably assume this volume is the result of the volatility we have seen with his lithium share during today’s session. Lake shares initially spiked this morning, going as high as $1.28. However, investors have since gotten cold feet and sent the company into red territory. Its share price is currently down by 2.48% to $1.18. 

Telstra Corproation Ltd (ASX: TLS)

ASX 200 telco Telstra is next up this Tuesday. Thus far today, a notable 18.02 million Telstra shares have been phoned in. There hasn’t been much out of Telstra either.

But the telco has suffered a 0.48% drop to $4.13 a share so far. Perhaps there is some elevated trading activity today in anticipation of Telstra trading ex-dividend tomorrow for its upcoming final payment as well.

Pilbara Minerals Ltd (ASX: PLS)

Finally today, we have another ASX 200 lithium stock in Pilbara Minerals. A whopping 34.88 million Pilbara shares have been bought and sold on the markets as it currently stands. This one is more obvious.

Pilbara reported its FY22 earnings this morning, which we duly covered at the time. You can read more here but, long story short, investors seem to very much like Pilbara’s record $561.8 million profit. That’s going off of the fact that the lithium producer’s shares are up a healthy 3.31% at $3.275 a share at the time of writing.

The post Here are the 3 most heavily traded ASX 200 shares on Tuesday appeared first on The Motley Fool Australia.

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More reading

• 3 ASX All Ordinaries shares trading ex-dividend tomorrow
• Why Altium, Ansell, Monadelphous, and Pilbara Minerals shares are charging higher
• Why is the Allkem share price acing it on Tuesday?
• Why is Lake Resources underperforming other ASX 200 lithium shares right now?
• Wall Street Slumps | Pilbara Minerals stunning profits | Kogan shares look cheap, Altium shares less so…

Motley Fool contributor Sebastian Bowen has positions in Telstra Corporation Limited. 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 positions in and has recommended Telstra Corporation 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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A number of popular ASX All Ordinaries shares are likely to fall tomorrow, even if no announcements are made by the companies.

As the August earnings season draws to a close, several ASX shares are trading ex-dividend this month.

The ex-dividend date is when investors must have purchased a company’s shares beforehand to be eligible for the upcoming dividend. If you buy the shares on or after the ex-dividend date, the dividend will go to the seller.

Below, we take a look at the ASX All Ordinaries shares that are trading ex-dividend on Wednesday.

Telstra Corporation Ltd (ASX: TLS) shares will trade ex-dividend for the telco’s 8.5 cents per share fully franked dividend. This will be paid to eligible shareholders on 22 September.

Pact Group Holdings Ltd (ASX: PGH) shares will also trade ex-dividend on Wednesday for the company’s partially franked 1.5 cent per share final dividend. Shareholders will have to wait until 6 October to receive the packaging and recycling business’s dividend payment.

SG Fleet Group Ltd (ASX: SGF) shares are set to trade without the rights to the fleet management company’s full franked 6.81 cents per share final dividend. SG Fleet shareholders will be paid this dividend on 8 September.

Foolish Takeaway

To qualify for any of the above dividends, you’ll need to make sure you buy the company’s shares before the close of trade today.

After that, you will still qualify for the dividend even if you sell the shares tomorrow or at a later date.

The post 3 ASX All Ordinaries shares trading ex-dividend tomorrow appeared first on The Motley Fool Australia.

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More reading

• Hoping to ring in the latest Telstra dividend? Here’s what you need to do
• How have ASX dividend shares been performing this earnings season?
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Looking to buy Telstra shares? Here’s how the telco’s results stack up against TPG’s
• ASX reporting season weekly wrap: Winners and losers

Motley Fool contributor Aaron Teboneras has positions in Telstra Corporation Limited. 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 positions in and has recommended Telstra Corporation 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 Lake Resources NL (ASX: LKE) share price has tumbled into the red this afternoon despite a strong performance from many of the company’s fellow S&P/ASX 200 Index (ASX: XJO) lithium stocks.

Right now, the Lake Resources share price is $1.19, 1.65% lower than its previous close.

For context, the ASX 200 is down 0.99% right now while the S&P/ASX 200 Materials Index (ASX: XMJ) is recording a 0.29% gain.

Let’s take a closer look at what might be going on with the lithium share today.

Is this driving the Lake Resources share price today?

Shares in Lake Resources have tumbled into the red this afternoon after spending much of the day in the green.

It comes as lithium shares lead the way in the materials sector. The Allkem Ltd (ASX: AKE) share price is currently the sector’s best performer, followed by that of Pilbara Minerals Ltd (ASX: PLS). They’ve gained 5% and 3.15% respectively.

Their strong performance comes after Pilbara Minerals released its full-year earnings this morning, detailing its maiden profit. The company posted $1.2 billion of revenue, $814.5 million of earnings before interest, tax, depreciation, and amortisation (EBITDA), and $561.8 million of net profit after tax (NPAT).

Of course, such exciting news from the lithium giant may have turned the market’s attention to some of its peers. Though, Lake Resources shares appear to have missed out.

It’s also worth noting that recently Macquarie upgraded its outlook for lithium. Such bullish sentiment might also be driving some lithium shares to outperform today.

The broker tipped lithium carbonate and hydroxide prices to stay higher for longer than previously expected and predicted spodumene will reach US$5,000 a tonne on a quarterly average, as my Fool colleague Brendon reported yesterday.

That might mean more blue (or green) skies for the Lake Resources share price in the future.

The stock is already 10% higher than it was at the start of 2022. It has also gained 113% since this time last year.

The post Why is Lake Resources underperforming other ASX 200 lithium shares right now? appeared first on The Motley Fool Australia.

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More reading

• Why is the Allkem share price acing it on Tuesday?
• Own CBA shares? $31b of the bank’s home loans face increasing climate risks
• Is the Flight Centre share price a buy ahead of Thursday’s FY 2022 earnings report?
• Is the Santos share price a buy following the company’s monster profit?
• Pilbara Minerals share price charges higher on strong FY22 result

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 Camplify Holdings Ltd (ASX: CHL) share price is down 5.56% in afternoon trade, having earlier posted intraday losses of more than 13%.

Camplify shares closed yesterday at $2.52 and are currently trading for $2.38 each.

The company, which provides a peer-to-peer digital marketplace platform that connects recreational vehicle owners with hirers, released its full-year results for the 12 months ending 30 June (FY22) this morning.

Here are the highlights.

Camplify share price drops on growing losses

• Revenue of $16.4 million, up 94% year on year
• Net loss after tax of $8.2 million, compared to a $2.1 million loss in FY21
• Net cash outflows of $6.1 million, compared to net cash inflows of $16.4 million in FY21
• Total equity at 30 June of $9.4 million, down from $14.1 million the prior year

What else happened during the year?

The company noted its business was impacted by pandemic-related travel restrictions for much of the 2022 financial year.

It attributed its strong revenue growth to a 61% increase in hirer revenue and a 280% increase in van sales from FY21.

Cost of sales was up, however, increasing from $2.6 million in the prior year to $6.3 million in FY22.

Gross profit margins fell to 46%, down from 62% in the prior year. Margins were impacted by increased insurance premiums and a revenue recognition change. Camplify said its increased insurance costs will be passed on in full in FY23.

The retention rate of hirers, a key focus area for Camplify, increased to 25% during the year, up from 20% the previous year. The company also grew its customer database by some 88,000 customers.

What did management say?

Commenting on the results, Camplify CEO Justin Hales said:

Camplify is a business with significant growth potential, and substantial scalability opportunities. Camplify has delivered on its strategic outcomes in FY22 by clearly building on customer demand to record four quarters of continued growth.

As growth continues in FY23 based on customer demand, Camplify will position the business to ensure scalability, and automation will deliver improved bottom line results, on our road towards profitability.

What’s next?

While not providing specific guidance, Camplify noted a big uptick in future booking values, boding well for the travel demand outlook in FY23.

As at 30 June, Camplify had $14.7 million in future bookings, compared to $7.0 million in FY21. The company stated, “This over doubling of future bookings clearly demonstrates from customers their intention to travel in FY23.”

Camplify share price snapshot

It’s been a difficult year for the Camplify share price, down 42% since the opening bell on 4 January. By comparison, the All Ordinaries Index (ASX: XAO) is down 8% year-to-date.

The post Camplify share price sinks 6% on growing FY22 losses appeared first on The Motley Fool Australia.

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More reading

• ‘Strong growth’: Expert says buy this ASX company that just doubled revenue
• Camplify share price leaps 6% as revenue more than doubles

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 Camplify Holdings Limited. 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 Service Stream Limited (ASX: SSM) share price is tanking after the company released its full-year FY22 preliminary results today.

Service Stream shares opened the session on Tuesday at 94 cents each. They then dipped as low as 82 cents in early trading — a 19.6% decline on the closing price of $1.02 yesterday.

The Service Stream share price has recovered a little to 85.2 cents at the time of writing.

Service Stream share price dives on 20% profit decline

The key metrics are as follows:

• Total group revenue of $1,563.8 million, up 94.5% on the prior corresponding period (pcp)
• Revenue from ordinary activities of $1,516.5 million, up 88.6% pcp
• Loss from ordinary activities of (36,324,000), down 224.1% pcp
• Adjusted net profit after tax (NPAT) of $31.4 million, down 19.4% pcp
• Earnings before interest, tax, depreciation, and amortisation (EBITDA) from operations of $91.1 million, up 13.7% pcp
• Generated $98.7 million of operating cash flow before interest and tax (OCFBIT), up 24% pcp
• EBITDA to OCFBIT cash conversion of 108%
• Net debt of $81.3 million and closing net leverage of 1.52 times as at 30 June
• Final dividend of 1 cent per share declared (fully franked).

The essential services provider described FY22 as “challenging” but also “transformational” due to its acquisition and “successful” integration of Lendlease Services.

What else happened in FY22?

Service Stream announced the Lendlease Services acquisition on 21 July 2021 along with a $185 million capital raising to fund the purchase. Service Stream completed the deal on 1 November 2021.

The company said:

The subsequent integration program, including the realisation of $17m in targeted synergies, continues to be delivered over the 18-24 month period with the business making solid progress during the year. Profit contribution across the acquired business was in line with diligence expectations…

The company said its “balance sheet remains in a strong position, with significant headroom to support future growth”.

Service Stream said “strong post acquisition cashflows” meant the company could resume paying dividends. The company ceased paying dividends in August 2021 to help fund the Lendlease acquisition. It did not pay a final dividend for FY21 nor an interim dividend for FY22.

The ex-dividend date is 19 September and shareholders will receive their payments on 5 October.

What did management say?

Service Stream Chair Brett Gallagher said:

The Board have been delighted by the way in which Management has navigated the business through the headwinds of the FY22 financial year and managed the acquisition of Lendlease Services. It is pleasing that the fundamentals of our business remain robust and performance over this transformational year enables the resumption of dividends.

The Board remains confident that our specialist capabilities and service offerings uniquely position the business across a stable and dependable client base of utility, telecommunications and road asset owners and operators.

What’s next?

Today’s results are preliminary and unaudited. The company explained: “Due to unforeseen and significant COVID-19-related disruptions to a significant number of personnel, certain audit processes and procedures are still to be finalised before the Company releases its audited FY22 full-year accounts to the ASX. Service Stream expects audited accounts to be released on Friday 26 August 2022.”

Looking ahead to FY23, managing director Leigh Mackender said:

The Group is confident of delivering further revenue and profit growth during FY23 on the back of a full-year’s contribution from Lendlease Services, subject to successfully navigating any extreme adverse weather events and effectively managing continuing labour / resource challenges, supply chain impacts or other major market disruptions.

In support of our strategy for continued growth and diversification, the priorities for the coming year include finalising the Lendlease Services integration, realising remaining business synergies and securing organic growth opportunities across each of the Group’s core markets.

Service Stream share price snapshot

The Service Stream share price is up more than 6% year to date and down 4% over the past 12 months.

The post Service Stream share price crashes 19% on ‘challenging’ FY22 appeared first on The Motley Fool Australia.

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More reading

• Camplify share price sinks 6% on growing FY22 losses
• Why Altium, Ansell, Monadelphous, and Pilbara Minerals shares are charging higher
• Why is the Credit Corp share price crumbling 6% today?
• Why is the Allkem share price acing it on Tuesday?
• Why is the Woodside share price having such a cracker of a day?

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 S&P/ASX 200 Index (ASX: XJO) is on course to record a second sizeable decline in as many days. At the time of writing, the benchmark index is down 1% to 6,975.7 points.

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

Altium Limited (ASX: ALU)

The Altium share price has rocketed 20% higher to $35.99. This follows the release of the electronic design software company’s full year results which smashed expectations. Altium was guiding to revenue of US$213 million to US$217 million with an EBITDA margin at the lower end of 34% to 36%. However, it delivered revenue of US$220.8 million and an EBITDA margin of 36.7%. The team at Bell Potter were particularly impressed.

Ansell Limited (ASX: ANN)

The Ansell share price is up over 8% to $27.30. Investors have been buying this health and safety products company’s shares following the release of its full year results. Ansell reported a 3.7% decline in sales revenue to US$1.95 billion and a 32.1% drop in EBIT to US$228.1 million. While not great on paper, this was better than the market was expecting from Ansell.

Monadelphous Group Limited (ASX: MND)

The Monadelphous share price is up 6% to $12.12. This morning this engineering company released its full year results and revealed 1.2% decline in revenue to $1.93 billion but an 11% lift in net profit after tax to $52.2 million. This result was driven by record maintenance and industrial services revenue, which grew 19.4% to $1.17 billion.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is up 3% to $3.27. This follows the release of a full year result which revealed stunning profit growth in FY 2022. Thanks to sky high lithium prices and strong production, the company reported EBITDA of $814.5 million for the 12 months. This was up from just $21.4 million a year earlier.

The post Why Altium, Ansell, Monadelphous, and Pilbara Minerals shares are charging higher appeared first on The Motley Fool Australia.

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More reading

• Why is the Allkem share price acing it on Tuesday?
• Wall Street Slumps | Pilbara Minerals stunning profits | Kogan shares look cheap, Altium shares less so…
• Monadelphous share price leaps 12% on record maintenance and industrial services revenue
• Ansell share price surges 10% as full-year revenue comes in at US$1.9b
• Pilbara Minerals share price charges higher on strong FY22 result

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 Altium. The Motley Fool Australia has recommended Ansell 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.

Tesla‘s (NASDAQ: TSLA) 3-for-1 stock split proposal won shareholder approval at the 2022 annual shareholders’ meeting this month. Now, the electric vehicle maker is gearing up for its second stock split after close of trading on Aug. 24. Shareholders of record on Aug. 17 will receive a stock dividend of two extra shares for every one share they currently own.

If you’ve been wondering how stock splits work and what will happen to your Tesla shares, here are three quick items to jot down. 

1. You’ll have more Tesla shares after the stock split

A stock split increases the number of shares outstanding, giving investors more shares in their account for every one share they previously owned.

After a stock split, the value of each share will be reduced to a lower price. This makes it easy for more retail investors to get their hands on a whole share of stock, because the stock price appears more affordable. If you’re already an investor, your shares will be split into bite-sized pieces, but the total value of your shares will not increase. 

Let’s say you have one share of Tesla’s stock. On the day of the 3-for-1 stock split, the company will grant you two additional shares. Each share in your portfolio would be valued at one-third the price of the original share. If one Tesla share is trading at $900 before the stock split, you’ll have three Tesla shares valued at $300 each after the stock split. As you can see, the total value of your shares is still $900. 

Here’s how many shares you will have after the stock split based on the number of shares you have on record as of Aug. 17. All you have to do is look at the number of shares you have now, and multiply the total by three. That’s how many shares you’ll have after a stock split. 

• 1 share of Tesla stock = 3 shares 
• 2 shares of Tesla stock = 6 shares 
• 3 shares of Tesla stock = 9 shares 
• 4 shares of Tesla stock = 12 shares 
• 5 shares of Tesla stock = 15 shares

2. You won’t have to report the stock split itself on your tax return

A stock split doesn’t increase a company’s market capitalisation or increase the value of your shares. You may have more shares in your account, but the original value of your shares remains the same. Therefore, a stock split in itself is not considered a taxable event. There are no IRS reporting requirements you need to adhere to during tax time. 

3. You may have to pay taxes if you sell your extra Tesla shares

Although a stock split in itself is not taxable, selling stock for a profit after a stock split can lead to taxes. This is the case if you sell stock in a taxable brokerage account. Earning money in the stock market leads to capital gains taxes. You will be taxed at the short-term or long-term capital gains tax rate, depending on how long you had your Tesla stock before selling it. Your brokerage firm will send you the details of your transaction, so you can properly report the sale to the IRS during tax time. 

Stock splits can be exciting and pain-free in the eyes of the investor. You wake up to more shares in your account after a stock split, and you don’t have to worry about any tax obligations. But as soon as you decide to sell, you’ll need to report your moves to the IRS. Before you make a move after a stock split, pay attention to the impact it will have on your portfolio and taxes, so you won’t be surprised later. 

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

The post 3 things you should know about the Tesla stock split appeared first on The Motley Fool Australia.

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More reading

• Why Tesla shares are falling ahead of its stock split
• Why Tesla stock dropped Monday
• Why Tesla stock was up again today
• Investors should wait for these 2 signals before buying Tesla
• Why today’s jump in Tesla shares surprised investors

Charlene Rhinehart, CPA has positions in Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Tesla. 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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