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In late afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on track to record a small decline. At the time of writing, the benchmark index is down slightly to 7,112.2 points.

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

AGL Energy Limited (ASX: AGL)

The AGL share price is down 4% to $7.81. Investors have been selling this energy company’s shares after the release of disappointing full year results for FY 2022. AGL reported an underlying profit after tax of $225 million, which was down 58% year over year.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

The Fisher & Paykel share price is down over 5% to $18.14. This follows the release of the medical device company’s guidance for FY 2023. The company revealed that it expects to report revenue of NZ$670 million and net profit after tax of NZ$85 million to NZ$95 million. This will be a big decline on the prior corresponding period which saw revenues of NZ$900 million thanks to COVID tailwinds.

Inghams Group Ltd (ASX: ING)

The Inghams share price is down 9% to $2.69. This morning this poultry company posted a 57.9% decline in net profit after tax to $35.1 million for FY 2022. Management blamed this on higher feed costs and supply chain disruptions. Inghams was forced to slash its dividend by 58% to 7 cents per share due to its lower profits.

TPG Telecom Ltd (ASX: TPG)

The TPG share price is down over 13% to $5.74. This follows the release of the telco giant’s half year results. TPG reported an adjusted net profit after tax of $331 million, which was up 3.8% over the prior corresponding period. According to a note out of Goldman Sachs, TPG’s profits missed by 15%. It also highlights “disappointing opex and Mobile ARPU growth.”

The post Why AGL, Fisher & Paykel, Inghams, and TPG shares are sinking today appeared first on The Motley Fool Australia.

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More reading

• Everything you need to know about the latest AGL dividend
• Inghams share price tumbles 8% as FY22 dividends slashed
• AGL share price dips after 58% profit slash
• Fisher & Paykel share price slides hard following FY23 guidance update
• TPG share price tumbles 9% on first half results

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 recommended TPG Telecom 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 Commonwealth Bank of Australia (ASX: CBA) share price is trading 1.4% lower in early afternoon trading. That leaves shares in Australia’s biggest bank down 1.2% since the closing bell last Friday.

The CBA share price isn’t the only one in the red today.

While the S&P/ASX 200 Index (ASX: XJO) is up 0.01%, the other big four banks are all posting losses as well. That’s likely partly driven by losses posted by the top US banks yesterday (overnight Aussie time).

Unless CommBank sees a big late-day rally, this will mark its second day of losses for the week, with shares gaining on Monday, Tuesday, and Thursday.

Why did the CBA share price fall on Wednesday?

The CBA share price closed down 1.8% on Wednesday, the day the bank’s shares traded ex-dividend.

That means anyone buying CommBank shares commencing market open on Wednesday was no longer eligible for the $2.10 fully franked final dividend the bank declared. Investors holding shares before Wednesday can expect that payment to land in their accounts on 29 September.

Generally, a stock will fall on the day it trades ex-dividend, as any new investors won’t receive that payment. While its common for stocks to fall by a similar amount to their dividend payout, the CBA share price closed only $1.84 lower on Wednesday.

CommBank’s full FY22 dividend works out to $3.85 per share, reflecting a trailing yield of 3.9% at the current price.

Also on Wednesday…

In other news on Wednesday, unlikely to have had a material impact on the CBA share price, CEO Matt Comyn announced a change to the bank’s executive leadership team.

Gavin Munroe, currently global chief information officer of wealth and personal banking for HSBC, will take over the role of CBA’s group executive, technology and group chief information officer from Pascal Boillat.

Boillat, according to the release, is heading back to the Northern Hemisphere to be closer to his family. Munroe will assume his role commencing 14 November.

Commenting on the executive leadership change, Comyn said:

Gavin is a seasoned financial services technology leader with deep experience driving digital transformations.

Gavin has a proven track record of delivering technology solutions at a global scale, managing and building strong teams, and leading large programs aligned to business strategies and goals.

The post What’s moving the CBA share price this week? appeared first on The Motley Fool Australia.

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More reading

• Why is the CBA share price sliding today?
• Is the CBA share price overvalued compared to other ASX 200 banks?
• The CBA share price has been making big news this week. What can ASX 200 investors expect next?
• How big is the CBA dividend yield right now?
• What does CommBank’s latest update mean for NAB shares?

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

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The S&P/ASX 200 Index (ASX: XJO) is having a jittery end to the trading week as it currently stands. At the time of writing, the ASX 200 has gained just 0.02% and now stands at 7,114 points, having also spent time in the red on Friday.

But rather than worry too much about that, let’s now dig deeper into the ASX 200 shares that are presently topping the market’s trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Friday

Pilbara Minerals Ltd (ASX: PLS)

First up today is ASX 200 lithium stock Pilbara Mienrals. This Friday has seen a hefty 13.55 million Pilbara shares so far take flight. There hasn’t been any news out of the company itself today.

However, as my Fool colleague Aaron pointed out this morning, the lithium producer has had a lot of attention this week. No doubt Pilbara’s bouncy share price movements today have also influenced volumes, although the company is currently flat for the day at $3.06 a share.

Lake Resources N.L. (ASX: LKE)

Another ASX 200 lithium share in Lake Resources is next up today. So far this Friday, Lake has had a sizeable 20.22 million shares swap hands. Again, we haven’t had any price-sensitive news out from the company.

So this volume looks to have been sparked by the notable volatility we have seen in the Lake Resources share price itself today. The company is currently up a decent 2.1% at $1.215 a share. But Lake rocketed as high as $1.285 a share (up more than 7%) this morning before settling down to the current level.

Telstra Corporation Ltd (ASX: TLS)

Our third, final and most traded ASX 200 share today is none other than blue-chip telco Telstra. This Friday has seen a chunky 23.94 million Telstra shares call up a new owner thus far. This could be a result of the Telstra share price adding another 0.5% to $4.12 a share today – a six-month high for the telco.

Perhaps some investors are enjoying some schadenfreude with the company too, given the disappointing reaction from the market to rival TPG Telecom Ltd (ASX: TPG)’s earnings this morning.

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

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More reading

• Could Porsche’s new test run threaten the outlook for ASX lithium shares?
• Why did the Lake Resources share price pop and then stop on Friday?
• Is this ASX 200 share ESG-challenged or a recession-proof buy?
• TPG share price tumbles 9% on first half results
• 2 ASX 200 shares set to soar if we manage to avoid a recession: experts

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 Australia has recommended TPG Telecom 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record the smallest of gains. At the time of writing, the benchmark index is up slightly to 7,114 points.

Four ASX shares that are climbing more than most are listed below. Here’s why they are charging higher:

Accent Group Ltd (ASX: AX1)

The Accent share price is up 10% to $1.66. Investors have been buying this footwear retailer’s shares following the release of its full year results. Although Accent posted a sizeable 59.2% decline in net profit after tax to $31.5 million, this was largely expected. As a result, investors appear to be focusing on its very strong start to FY 2023 instead.

Cochlear Limited (ASX: COH)

The Cochlear share price is up 2.5% to $219.75. This morning this hearing solutions company released its FY 2022 results and revealed record sales revenue of $1.6 billion and an 18% increase in underlying profit to $277 million. Looking ahead, management expects its underlying profit to grow to between $290 million and $305 million in FY 2023.

Newcrest Mining Ltd (ASX: NCM)

The Newcrest share price is up 4% to $19.39. This follows the release of FY 2022 results that were ahead of the market’s expectations. The gold miner delivered a full year net profit after tax of US$872 million. While this was down 25% year over year, it was ahead of consensus estimate of US$843.5 million.

Santos Ltd (ASX: STO)

The Santos share price is up 6% to $7.48. Investors have been buying this energy producer’s shares after oil prices charged higher overnight. Traders were buying oil after data showed that US crude stockpiles fell significantly more than expected last week. The S&P/ASX 200 Energy index is up almost 4% today.

The post Why Accent, Cochlear, Newcrest, and Santos shares are charging higher today appeared first on The Motley Fool Australia.

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More reading

• Why is the Santos share price soaring 6% on Friday?
• Cochlear share price takes off despite guidance miss
• Accent share price jumps despite 59% profit drop
• Everything you need to know about the latest Newcrest dividend
• Newcrest share price lifts despite profit falling 25%

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 Cochlear Ltd. The Motley Fool Australia has recommended Accent Group and Cochlear 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 Sayona Mining Ltd (ASX: SYA) share price is powering upward today amid further government commentary on the need for an increased uptake of electric vehicles (EVs) in Australia.

At the time of writing, the Sayona share price is 27 cents, up 8%.

What’s been said about electric vehicles today?

Speaking at the National Electric Vehicle Summit in Canberra, Energy and Climate Change Minister Chris Bowen pledged that the government would provide “policy leadership” on EVs.

According to reporting in The Australian, Bowen said:

We believe now is the time to have a sensible discussion about whether fuel efficiency standards could help improve the supply of electric vehicles into our market …

Apart from Russia, Australia is the only OECD country not to have or be in the process of developing fuel efficiency standards.

Other government ministers have also given their support for increasing EV uptake in Australia.

NSW Energy Minister and Treasurer Matt Kean said he was working with political peers on both sides of the aisle “who are continuing to push reform to support the uptake of EVs”, according to The Guardian.

Kean said EVs were “absolutely essential to our emission reduction goals”.

What’s this doing for the Sayona share price?

Well, the discussion at the summit simply provides further momentum for the shift to EVs in Australia. And that’s great news for lithium miners like Sayona, given lithium is a crucial element in the batteries that make EVs run.

Other ASX lithium shares are also trading higher today. Allkem Ltd (ASX: AKE) shares are up 1.32% at the time of writing, and Pilbara Minerals Ltd (ASX: PLS) shares are 0.16% higher. Lake Resources NL (ASX: LKE) shares are up by 1.68%.

Perhaps Sayona is getting a bigger benefit today after some exciting announcements this month.

These include restarting its North American Lithium operation and bolstering its financial base by increasing its at-market subscription agreement (ATM) with existing shareholder Acuity Capital.

What’s next for EVs in Australia?

A draft of Australia’s first National Electric Vehicle Strategy will be released in September.

This was among a range of promises made by the Labor Party during the election campaign to boost EVs in Australia. Another commitment was to introduce an electric car discount.

This would exempt EVs below the luxury car tax threshold ($77,565 in FY21) from import tariffs and fringe benefits taxes.

What’s next for the Sayona share price?

As my Fool colleague Raymond pointed out this week, the Sayona share price has been volatile of late.

But overall, it’s a lush green picture. In the year to date, Sayona shares are up 93%. Over the past month, they have risen more than 80%.

ASX lithium shares received a new tailwind this week when the United States Congress passed a $US430 billion bill “that is seen as the biggest climate package in the country’s history”, as abc.net.au reported.

The post Why is the Sayona Mining share price surging 8% on Friday? appeared first on The Motley Fool Australia.

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More reading

• Why is the Sayona Mining share price so volatile?
• Why are ASX lithium shares having such a cracking start to the week?
• Why is the Lake Resources share price up so much more than other ASX lithium shares today?
• Why has the Sayona Mining share price rocketed almost 100% in a month?
• Why is the Sayona Mining share price surging 15% on Monday?

Motley Fool contributor Bronwyn Allen has positions in Allkem 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 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 broader market is struggling to make ground today but there is one ASX healthcare share that is zooming ahead this afternoon.

This is the Invex Therapeutics Ltd (ASX: IXC) share price, which is currently surging 17.86% to 66 cents. If it closes at this level, it will mark a more than three-month high for the share.

In contrast, the All Ordinaries Index (ASX: XAO) is trading flat as falls in ASX big banks offset gains by ASX resource shares.

Why this ASX healthcare share is exciting the market today

Invex got the attention of investors today when it announced that its Investigational New Drug (IND) application had been approved by the US Food and Drug Administration (FDA).

The approval is for its Presendin drug, and it comes as the ASX healthcare company commences its phase III clinical trial, called IIH EVOLVE, in the United States.

The trial is for patients with idiopathic intracranial hypertension (IIH). This is a condition where pressure inside the skull increases for no obvious reason.

The condition can cause vision changes and headaches – symptoms that are similar to a brain tumour (but with no tumour present).

Why is the FDA’s IND approval so important?

Securing the IND is essential to the phase III trial in the US. A clinical study sponsor has to obtain this before it can administer an investigational drug to humans.

According to the US FDA’s website, the IND must be secured prior to interstate shipment and administration of any new drug or biological product that is not the subject of an approved New Drug Application or Biologics Product License Application.

The chief scientific officer and executive director of Invex, Professor Alex Sinclair, said:

We are excited to have received the IND for Presendin and IIH EVOLVE from the US FDA, based on the study protocol where we have already secured regulatory clearances in the UK and Australia.

We anticipate that a positive efficacy outcome of the study will facilitate further discussions with the FDA on the future registration requirements of Presendin for IIH patients in the US.

High hopes for this ASX healthcare company

Invex claims there are no existing regulatory approved drug therapies for IIH. This leaves invasive neurosurgical and ophthalmic surgeries as options for those with a severe case of the condition.

The microcap ASX healthcare share intends to open several clinical sites across the US to support the IIH EVOLVE trial. Invex will now complete the necessary institutional contracts and human ethics committee approvals.

Clinical trial details

The IIH EVOLVE study is a randomised, placebo-controlled, double-blind trial that will randomise 240 patients.

These patients are newly diagnosed with IIH and the trial will help determine the efficacy and safety of Presendin versus placebo.

The drug/placebo will be administered once a week over 24 weeks. The primary endpoint of the trial is the change in intracranial pressure from baseline, with key secondary endpoints related to vision and headache outcome measures. Invex intends to open up to 40 clinical sites globally.

Invex annual report

The company also released its annual report for FY22 today.

Invex recorded a net loss after tax of $3.950 million, an increase of 73% on the prior corresponding period. This was attributed largely to higher research and development costs of $2.642 million (compared to $1.139 million in FY21), reflecting the expenditure required to commence the IIH EVOLVE study.

The company reported an overall cash burn from operations of $3.377 million (up from $1.678 million in FY21).

Invex said it remained “in a strong financial position” with cash and cash equivalents of $29.339 million at 30 June 2022 (down from $32.777 million in FY21).

Invex share price snapshot

The Invex share price is almost 1% in the green over the past year, thanks to today’s big rally. This is better than many other ASX healthcare shares and biotech shares.

These include the Mesoblast Limited (ASX: MSB) share price and Starpharma Holdings Limited (ASX: SPL) share price. These shares are both down around 40% over the past 12 months.

The post This ASX healthcare company just got FDA approval, and its share price is soaring 18% appeared first on The Motley Fool Australia.

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More reading

• Why is the Sayona Mining share price surging 8% on Friday?
• Investors are leaning away from ESG investing, but here’s why you shouldn’t follow the crowd
• 3 ASX All Ordinaries shares cracking new highs on Friday
• The Aussie-born crypto platform taking on Ethereum
• Could Porsche’s new test run threaten the outlook for ASX lithium shares?

Motley Fool contributor Brendon Lau 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 Starpharma Holdings Limited. The Motley Fool Australia has recommended Starpharma Holdings 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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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.

Traditionally, the main thing investors would use to determine whether to invest in a company is how much money it made. That’s still one of the most important factors, but investors have increasingly begun to look past a company’s financials and into its role in greater society. This has been evident with the increased popularity of ESG investing (environmental, social, and corporate governance).

The environmental part focuses on how a company’s current operations impact the environment, as well as its commitment to operating in a more eco-friendly way and fighting climate change. This is particularly relevant to companies dealing with high energy use and fossil fuels. Socially, companies are graded on how they interact with employees, customers, and the greater community. Whether it’s work culture, diversity, customer data privacy, or philanthropy, this aspect of ESG lets investors know where a company stands. Governance mainly focuses on a company’s compliance, transparency, and truthfulness.

Investors are pumping the brakes a bit

Over the past few years, the popularity of ESG funds has skyrocketed. At the end of 2019, there was $1 trillion in ESG funds. At the end of 2020, there was $1.8 trillion in ESG funds. By the end of 2021, the money held in ESG funds had increased 53% to $2.7 trillion, with $596 billion being new money.

However, recently this momentum has slowed down. In the first quarter of 2022, $87 billion of new money went into ESG funds. In the second quarter, only $32.6 billion went into ESG funds, a roughly 62% decline. According to Morningstar’s Global Sustainable Fund Flow report, this largely has to do with inflation and recession fears. While both are very real issues we’re currently facing, now’s not the time to abandon ESG investing if you have the financial means.

ESG funds are far from perfect

Although ESG investing is good in its intent, investors may be rightfully concerned with the ironic holdings of some ESG funds. A fund’s objective may say one thing, while some of its holdings seemingly go against that. For example, it’s not farfetched to see supposedly earth-friendly ESG funds that contain big oil companies. It’s sort of a catch-22 for some investors: Big oil undoubtedly plays a huge role in pollution, but those companies are also making some of the largest investments in green innovations.

Investors are often right in their criticism, but that shouldn’t be cause to abandon ESG investing altogether.

Now’s not the time to pull back from investing

As an investor, the one thing you don’t want to do during down periods in the market is stop investing. If anything, these can be times to double down and get some of your favorite stocks at a discount. There’s a lot of uncertainty in the market, but the one thing you can be certain about is volatility. The quicker long-term investors realize that market cycles are inevitable, the sooner they can begin to view these as opportunities.

If you’re investing in well-diversified ESG funds containing blue chip stocks, keep your eyes on the prize and trust that they’ll weather the storm. But maybe more importantly, ESG investing allows investors to put their money into companies whose operations align with their personal values. And that doesn’t have to go against your financial goals. 

A company aiming to uphold ESG standards doesn’t mean it’s not concerned with creating shareholder value. In fact, much of what ESG investing is about is identifying future risks that can harm a business. An oil company can be affected by legislation; data leaks could lead to loss of customers’ trust; and inaccurate financial reporting can leave investors unknowingly on a sinking ship (read: Enron).

ESG investing can be a way for investors to kill two birds with one stone.

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

The post Investors are leaning away from ESG investing, but here’s why you shouldn’t follow the crowd appeared first on The Motley Fool Australia.

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More reading

• 3 ASX All Ordinaries shares cracking new highs on Friday
• The Aussie-born crypto platform taking on Ethereum
• Could Porsche’s new test run threaten the outlook for ASX lithium shares?
• Why is the Whitehaven Coal share price leaping 7% to a record high?
• Why is the Santos share price soaring 6% on Friday?

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.

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

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The All Ordinaries Index (ASX: XAO) is having a fairly muted day of gains so far this Friday. At the time of writing, the All Ords has put on a rather measly 0.02% to just under 7,360 points.

But it’s been a far better day for some All Ords shares. So let’s dig into three that have just hit new 52-week highs this Friday.

3 All Ords shares hit new highs on Friday

Omni Bridgeway Ltd (ASX: OBL)

On the surface, it doesn’t look like an ultra-exciting day for the Omni Bridgeway share price. This All Ords financial share has gained 0.03% at the time of writing at $4.625 a share. But earlier today, the company rose as high as $4.65 – a new 52-week high for Omni Bridgeway.

It’s the highest share price the company has enjoyed since mid-2020. Omni Bridgeway shares have been climbing ever since the litigation funder announced some pleasing annual commitment numbers last month.

Tassal Group Limited (ASX: TGR)

Next up is the All Ordinaries fish-farming company Tassal Group. Like Omni Bridgeway, Tassal shares haven’t lit the world on fire with gains today. The company currently sits flat at $5.15 a share, up 0.1% for the day.

However, this gain is sitting on the shoulders of the stellar week the aquaculture company has enjoyed.

$5.16 is a new 52-week high for Tassal. Investors have been flooding into the share ever since Tassal announced that it had accepted a $1.1 billion ($5.23 per share) takeover offer on Monday from Canadian seafood company Cooke Inc.

Maca Ltd (ASX: MLD)

Mining services company Maca is our final All Ords share to check out this Friday. Maca shares have actually had a decent day of gains today, rising 4.46% to $1.055 a share. That comes after the company hit $1.06 this morning, which is… you guessed it, Maca’s new 52-week high.

This move comes after news yesterday that NRW Holdings Limited (ASX: NWH) had launched a takeover offer for Maca. Investors were offered $1.085 per share, but the company disclosed yesterday that it had told NRW ‘thanks, but no thanks’. Investors seem encouraged today, all the same.

The post 3 ASX All Ordinaries shares cracking new highs on Friday appeared first on The Motley Fool Australia.

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More reading

• Guess which ASX copper share has exploded 182% this week?
• Results and trading halts: What went down for the NRW share price on Thursday?
• 50% off: Why I think this ASX All Ords share could be a sparkling buy
• This ASX lithium share is surging 45% today. What’s going on?
• Why BHP, Life360, Tassal, and Temple & Webster shares are charging higher

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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It’s been a rough year so far for investors in crypocurrency. The Ethereum (CRYPTO: ETH) price has lost just over 40% of its value, while the Bitcoin (CRYPTO: BTC) price is down almost 50%.

But bear markets and a worsening sentiment haven’t deterred some entrepreneurs from innovating this year — defiant in the face of the mass lay-offs occurring in the industry.

One Australian entrepreneur, Robbie Ferguson, is doing just that. He’s pumping the gas on hiring for Immutable X, a non-fungible token (NFT) trading platform for digital assets.

As reported by the Australian Financial Review, the platform, then known as simply Immutable, was founded in the depths of one of crypto’s most severe meltdowns that occurred in 2017.

Video games Etherbots and Gods Unchained were developed, and the company’s foray into the trade of digital assets began. Players could buy and sell in-game items, and Immutable forged this concept into an enduring business model.

Today Ferguson is busy developing Immutable X, funded by a $280 million capital raise it secured in March.

Immutable X builds on its original premise of gamers trading non-fungible items in a frictionless environment. Unlike other NFT platforms like Open Sea or Super Rare, traders pay zero gas fees to mint, transfer, and trade their virtual assets.

Its website states it is the world’s best platform for NFT trades. It boasts Marvel, Disney, and Guild of Guardians as some of its clients.

And Ferguson’s personal conviction certainly matches the corporate messaging.

Speaking with the AFR, Ferguson described his ambitious vision for the future of NFTs, projecting that they will be used to tokenise assets that range from music tracks to treasury bills, recorded forever on the blockchain.

But the Ethereum price will still play a part

However, some analysts don’t share Ferguson’s brass-necked optimism, or at least for the immediate future, with the main culprit being the sell-off in the Ethereum price.

The correlation between the Ethereum price and NFT sales is not fully understood, with some studies showing the correlation as being either a little, some, a lot, or none at all.

Some experts take the broader view and think the crypto market in general is still speculative, and, therefore, risky. This includes Miller Tabak & Co’s chief market strategist Matt Maley.

One can interpret this as meaning different things. Still, it’s hard to imagine NFTs flying out the door if people believe they will lose money in the long run, with the Ethereum price acting as a barometer of investors’ fear and greed at the minimum.

The post The Aussie-born crypto platform taking on Ethereum appeared first on The Motley Fool Australia.

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More reading

• 2 cryptos that could lead the market recovery
• Why Bitcoin, Ethereum, and Dogecoin are slumping today
• This is why Ethereum has been outpacing the Bitcoin price gains. Will it last?
• Why Ethereum and Solana were trading wildly today
• 3 reasons I’m buying this crypto hand over fist

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 Bitcoin and Ethereum. 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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ASX lithium shares have offered investors some choice returns over the past year.

Taking a look at three leading ASX lithium stocks, Core Lithium Ltd (ASX: CXO) has gained 324% over the past 12 months; Allkem Ltd (ASX: AKE) shares are up 34%; and the Lake Resources N.L. (ASX: LKE) share price has gained 119%.

Those impressive results are even better in light of the 5% full-year loss posted by the All Ordinaries Index (ASX: XAO).

ASX lithium shares have benefited from soaring lithium prices, up more than 400% over the past year. This comes amid rapid growth in the EV markets, with China posting record EV sales of 571,000 vehicles in June alone.

Lithium, as you’re likely aware, is a core element in the batteries that make EVs go.

And with the world moving to decarbonise, governments, car manufacturers and investors alike have been placing big bets on the fact that EVs will continue to replace combustion engine vehicles over the coming decade.

This thesis sees growing demand for lithium over the coming decade, which will continue to support ASX lithium shares.

But what if they’re betting on the wrong horse?

Porsche tests hydrogen-combustion car

While the EV market isn’t likely to be upended overnight, car makers including Porsche are pouring money into researching clean alternative combustion energy sources.

Namely hydrogen.

As Motor1 reports, Porsche recently completed a virtual test of a hydrogen-powered car.

Note that this is a combustion motor, and not the same thing as a hydrogen fuel cell vehicle, which uses the chemical energy of hydrogen to produce electricity.

The simulated Porsche used the company’s 4.4 litre V8 combustion engine as the building block for the tests, in which the car topped out at 261 kilometres per hour, producing an impressive 590 horsepower.

Porsche stated its simulation demonstrated the engine could meet the Euro 7 emissions standards.

ASX lithium shares won’t be feeling the impact of its hydrogen-powered cars soon, as Porsche said it wasn’t going to produce the motor in “its current form”. But Porsche added it had gained “valuable insights” from the tests.

And Porsche isn’t alone.

According to Motor1,  Ford has filed a patent for a hydrogen-combustion engine, while Toyota is also studying the potential.

How have these ASX lithium shares performed longer-term?

We looked at the one-year return for three of the leading ASX lithium shares above.

So, how have they performed over the past five years?

If you’d bought Allkem shares five years ago you’d be sitting on a gain today of 274%. Lake Resources shares have gained 2,320% over that period, while the Core Lithium share price has rocketed 4,567%.

Take that, hydrogen!

The post Could Porsche’s new test run threaten the outlook for ASX lithium shares? appeared first on The Motley Fool Australia.

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More reading

• Why did the Lake Resources share price pop and then stop on Friday?
• Why Blackmores, Codan, Lake Resources, and Xero shares are falling today
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Down 16% in 3 days: Why is the Lake Resources share price still sliding?
• Top brokers name 3 ASX shares to buy today

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

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