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The share price of online retailing juggernaut Amazon.com, Inc (NASDAQ: AMZN) has surged more than 13% in post-market trading in the US.

At the time of writing, Amazon shares are resting at $122.28 apiece, having closed the US session higher in extended trading after the company released its Q2 FY22 earnings.

Amazon share price roars post-market after earnings

The key standout for Amazon for the period was its $121 billion in quarterly revenue. In what appears to have been good news for the Amazon share price, this beat analysts’ expectations by more than $2.04 billion.

Advertising revenue was particularly strong this quarter, growing 18% year on year to around $8.8 billion.

Meanwhile, operating cash flow decreased 40% to $35.6 billion, whereas free cash flow decreased to an outflow of $23.5 billion.

Notably, Prime members purchased more than 300 million items on Prime Day and saved more than $1.7 billion — more than any other Prime Day event.

Moreover, Amazon style was on show this quarter as it launched Virtual Try-On for Shoes, “where shoppers can virtually try on thousands of sneaker styles”.

The company also reaffirmed that customers in California and Texas will be among the first to receive Prime Air drone deliveries.

“Customers will have the option to receive free and fast drone delivery on thousands of everyday items,” Amazon stated.

These results actually overshadowed a net loss of $2 billion for the quarter. The result gives a loss on earnings per share (EPS) of 20 cents, below analyst estimates of a positive 12 cents EPS.

However, the bottom-line result appeared to be skewed somewhat, as it reflects an approximate $4 billion charge related to Amazon’s equity stake in electric automaker, Rivian Automotive.

Management commentary

Speaking on the results that have boosted the Amazon share price, CEO Andy Jassy said:

Despite continued inflationary pressures in fuel, energy, and transportation costs, we’re making progress on the more controllable costs we referenced last quarter, particularly improving the productivity of our fulfillment network.

We’re also seeing revenue accelerate as we continue to make Prime even better for members, both investing in faster shipping speeds, and adding unique benefits such as free delivery from Grubhub for a year, exclusive access to NFL Thursday Night Football games starting September 15, and releasing the highly anticipated series The Lord of the Rings: The Rings of Power on September 2.

What’s next for Amazon?

The strong result saw management reinstate third-quarter guidance of net sales between $125 billion and $130 billion, calling for growth of 13-17%.

With this result, it also expects some unfavourable impact from foreign exchange rates. Meanwhile, Amazon also forecasts operating income of $3.5 billion at the upper end.

The Amazon share price is down 28% this year to date, and 32% in the past 12 months.

The post Amazon share price surges 13% after hours on revenue beat appeared first on The Motley Fool Australia.

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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Amazon. The Motley Fool Australia has recommended Amazon. 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 Polynovo Ltd (ASX: PNV) share price is surging on Friday afternoon.

This comes after the medical device company’s shares tumbled almost 20% this week before staging a mini-comeback yesterday.

At the time of writing, the medical device company’s shares are swapping hands at $1.62, up 7.29% – slightly under last Friday’s close of $1.725.

Let’s look at what the company announced to the market today.

Polynovo bolsters leadership team

Investors are snapping up Polynovo shares after the company revealed it had secured the services of an experienced pharmaceutical leader.

In today’s release, Polynovo advised Swami Raote has been appointed as company CEO with immediate effect.

This sees acting CEO Max Johnston exit the role after serving since November 2021.

Polynovo noted Raote’s achievements, particularly his 30-year career at global pharmaceutical giant Johnson & Johnson.

During his time there, Raote earned a reputation as a transformation growth leader across fast-moving consumer goods, over-the-counter products, pharmaceuticals, and medical devices.

He also held senior leadership positions at Johnson & Johnson across various geographies of interest to Polynovo. This includes Indonesia, the Association of Southeast Asian Nations (ASEAN), India, China, South Korea, and the United States.

Raote is currently “an advisor to the prime minister of a major Asian country that is building a digital health platform”, according to his biography.

Furthermore, he’s in several other advisory roles, which Polynovo will review to consider potential market opportunities.

Management commentary

Polynovo chair David Williams welcomed the news, saying:

Swami has successfully run fully integrated businesses including research and development, regulatory, manufacturing, and sales and marketing. That experience along with hands on experience in many geographies and markets will position Polynovo for an exciting new era of growth, innovation, and operational excellence.

On a lighter note, Williams added:

Swami is 58 years old and given he is significantly younger than me, I judge he has more than enough energy for the challenge.

Polynovo share price snapshot

Despite its recent gains, the Polynovo share price has plummeted 30% over the last 12 months.

The company’s shares hit a 52-week low of 83.5 cents on 5 May and have been treading upwards since.

Based on today’s price, Polynovo commands a market capitalisation of more than $1 billion.

The post ‘Transformation growth’: Polynovo share price jumps 7% on new leadership appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended POLYNOVO FPO. 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 decent end to the trading week so far this Friday for the S&P/ASX 200 Index (ASX: XJO). The ASX 200 has added a healthy 0.82% so far today to 6,946 points. But the Santos Ltd (ASX: STO) share price is doing even better.

Santos shares are currently up an index-beating 1.10% at $7.32 a share. That comes after this ASX 200 energy share rose as high as $7.44 in earlier trading, a rise worth more than 2% at the time.

So how is Santos managing to be an ASX 200 winner today?

Well, since Santos is an ASX oil share, our first port of call should be the crude oil price itself. According to Bloomberg, oil prices have been rising for the last few days. Back on 26 July, the price of West Texas Intermediate (WTI) crude futures was US$94.98 a barrel.

But, at the time of writing, these WTI futures are now going for US$96.69 a barrel. So there has been a definite uptick in the value of crude oil over the past few days.

This could be behind the strong performance of the Santos share price this Friday.

Santos and ASX energy shares rise on higher oil price

But it’s not just Santos shares that are enjoying a day in the sun today.

Take the Woodside Energy Group Ltd (ASX: WDS) share price. Woodside is the largest energy share on the ASX 200. Its shares are also up today, having risen by 0.88% to $32.10 each.

Looking at the Beach Energy Ltd (ASX: BPT) share price and we see a similar pattern. Beach has risen by 1.39% so far today to $1.82 a share.

So we are seeing some fairly consistent moves in the ASX oil shares space, which points to an industry-wide trend. As such, we can conclude that it is probably the strength in the oil price itself which is largely responsible for the outperformance of the Santos share price so far today.

At the current Santos share price, this ASX 200 energy share has a market capitalisation of $24.61 billion, with a dividend yield of 2.66%.

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

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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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Whilst ASX 200 bank basket continues to outperform, one smaller lender has shone through today.

Shares of online business lender Prospa Group Ltd (ASX: PGL) are surging into the green today following the release of its quarterly update today.

At the time of writing on Friday, the Prospa share price is currently trading 11.54% higher at 87 cents apiece.

Prospa share price prospers following quarter

Key takeouts from the rival to the big 4 ASX 200 banks include:

• Full-year EBITDA of c.$12 million1 (FY21 $0.5 million) Originations of $245.7 million in 4QFY22, up 35% on the prior corresponding period (pcp)
• Prospa’s highest month ever recorded for originations reaching $104.6 million in June 2022
• Revenue reached $53.9 million, up 61% against pcp
• Total active customers increased to ~16,100, an additional ~2,100 from the prior quarter
• Credit losses expected to remain within the board-mandated loss rate range of 4-6%.

What else happened this quarter for Prospa?

It was a strong period for loan originations, recording $104 million in June alone.

As a result of this originations growth, the closing loan book increased to $701.3 million, an increase of 20% from the prior quarter.

Gross Loans reached $633.4 million for the quarter, an increase of 16% from the prior quarter’s $546 million.

Total active customers increased to approximately 16,100 last period as well. This represents a gain of around 2,100 from March 2022.

The company achieved this result “while maintaining an industry-leading Net Promoter Score above 80”.

In accordance with its buyback program announced in February 2022, Prospa has now repurchased 690,876 ordinary shares up to 30 June 2022.

Management commentary

Speaking on the results, Greg Moshal, Co-Founder and Chief Executive Officer of Prospa said:

We are incredibly pleased with the momentum and outcomes the team has achieved. Each quarter
this year, they’ve come back with greater enthusiasm. Their hard work has translated to recordbreaking results, including the $104.6 million originations in June.

Our partners have played an integral role in the achievement of Prospa’s results, placing trust in our
products and advocating them to their small business clients. It gives us great satisfaction to know
that our funding solutions are supporting small business owners to achieve their business goals. The
success stories reaffirm our commitment to keep small business moving, and keep us focused on
closing the funding gap for small businesses as a strategic priority.

Prospa is now pushing higher alongside the ASX 200 bank share basket, securing a 21% gain this year to date.

The post Move over Big four! This ASX non-bank lender just had a record quarter, and its share price is soaring 12% appeared first on The Motley Fool Australia.

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• Why is the Bubs share price sinking 7% on Friday?

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has 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 Fortescue Metals Group Limited (ASX: FMG) share price is sliding on Friday amid reports Singapore iron ore futures has pulled back from a four-week high.

At the time of writing, the Fortescue share price is $18.40, 1.6% lower than its previous close.

Its dip comes despite the S&P/ASX 200 Index (ASX: XJO) enjoying a fourth consecutive day in the green, driving it to a seven-week high.

Let’s take a closer look at what’s going on with the iron ore giant’s shares today.

Fortescue share price falls alongside iron ore

The Fortescue share price is suffering on Friday despite both the broader market and its home sector recording gains.

The S&P/ASX 200 Materials Index (ASX: XMJ) is currently up 0.7%, with the iron ore goliath coming in as one of its biggest weights.

Interestingly, the Rio Tinto Limited (ASX: RIO) share price has joined its peer in the red, slipping 0.3%, while that of BHP Group Ltd (ASX: BHP) is recording a 0.6% gain.

Fortescue’s poor performance comes amid iron ore’s about-face. Singapore iron ore futures has dumped 5% – handing back its gains from earlier this week – amid apparently disappointing news out of China, The Australian reports.

The publication claims China’s Politburo shied away from anticipated stimulus measures and used softened language when discussing economic growth targets at its latest meeting.

It did reportedly fully commit to one thing: its COVID-19 eradication strategy.

Of course, China’s growth burns up most of the iron ore produced in Australia. Thus, slower growth in the nation might dint demand for the commodity and, thus, its producer’s bottom lines.

The Fortescue share price has slumped around 8% so far this year. That’s in line with the ASX 200’s year-to-date tumble.

The post Fortescue share price slumps as iron ore price pulls back appeared first on The Motley Fool Australia.

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More reading

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

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The Dubber Corp Ltd (ASX: DUB) share price is losing its footing on the last day of trading for the week.

At the time of writing, shares in the cloud-based call recording software provider are 25% in the red. This contrasts with yesterday’s solid 13.4% gain ahead of the company releasing its fourth-quarter results after market trading hours.

Yet, today is a different story after investors have had a chance to dissect the latest results. Furthermore, management conducted a quarterly webinar this morning, providing more information to digest.

So, what could be pushing the Dubber share price lower today?

Chasing down payments

For the most part, Dubber’s fourth quarter is a story of robust growth. To quickly summarise the company’s achievements, here is a recap of the highlights:

• Annualised recurring revenue (ARR) up by 51% year on year to $59 million
• Total annual revenue increased 75% YoY to $36 million
• Subscribers increased 38% YoY to more than 580,000
• Cash receipts grew by 48% YoY to $29.9 million
• Cash on hand at the end of the quarter finished at $84.3 million

The above metrics are all relatively impressive given the challenging macro environment. However, it is possible investors are taking issue with the more granular details around cash receipts for the quarter, putting pressure on the Dubber share price.

According to the report, cash receipts fell by $1.8 million compared to the prior quarter. As a result, Dubber booked $6.7 million for Q4 or a 21.1% decrease. The company states this was due to outstanding payments, the majority of which are expected to flow through in the September quarter.

However, comments regarding cash receipts made by Dubber CEO Steve McGovern on the quarterly webinar this morning may have caused some unease among investors.

I think if you have followed Dubber for a while, the most important factor here is that whilst we have 580,000 subscribers who are on our call recording plan, they’re not credit card subscribers. Our customers are actually service providers. And so, if we have a service provider that doesn’t pay in a quarter, it can be quite meaningful. If you look at the four quarter’s over the past year, you will see that that’s happened, you know, quite regularly — fluctuating in terms of our receipts. 

This uncertainty created by fluctuations in payments from service providers may have spooked some investors today.

Dubber share price snapshot

Today’s reaction to Dubber’s quarterly report puts a dampener on what has been a recent resurgence in the Dubber share price. Prior to today, shares had surged 75% from the year’s low of 51 cents.

As a result, the company’s share price has retreated nearly 74% since the start of 2022. Despite the rather disappointing move, Dubber has continued to deliver revenue growth over the last 12 months. However, the company reportedly burned through $12.7 million of cash at an operational level during the fourth quarter.

Based on the current Dubber share price, the company holds a market capitalisation of $283.7 million.

The post Did this really just cause the Dubber share price to tumble 25%? appeared first on The Motley Fool Australia.

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More reading

• Why BrainChip, Fortescue, PointsBet, and Zip shares are dropping
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• Sezzle sizzles: What is going on with this ASX buy now, pay later share?

Motley Fool contributor Mitchell Lawler 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 Dubber Corporation. The Motley Fool Australia has positions in and has recommended Dubber Corporation. 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 strong finish to the week. In afternoon trade, the benchmark index is up 0.85% to 6,948.5 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

Brainchip Holdings Ltd (ASX: BRN)

The BrainChip share price has dropped 13% to $1.10. This is despite there being no news out of the semiconductor company. Profit taking could be weighing on the company’s shares today after some strong gains in recent weeks. In addition, with a market capitalisation of $2 billion and quarterly revenue of US$1.2 million, some investors may have concerns with its valuation.

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price is down 2% to $18.35. The softening of the iron ore price and a couple of bearish broker notes could be weighing on this mining giant’s shares. In respect to the latter, the team at Macquarie has downgraded Fortescue’s shares to an underperform rating with a $16.00 price target.

PointsBet Holdings Ltd (ASX: PBH)

The PointsBet share price is down over 8% to $3.27. This is despite the sports betting company’s fourth quarter update revealing a 41% year on year increase in quarterly total net win to $85.8 million. This was driven by solid growth in both the Australian and US markets. It appears as though the market may have been expecting even stronger growth.

Zip Co Ltd (ASX: ZIP)

The Zip share price is down 20% to $1.21. This buy now pay later provider’s shares appear to have come under pressure from profit taking after some stellar gains over the last few weeks. In fact, even after today’s decline, the Zip share price is still up over 150% since this time last month.

The post Why BrainChip, Fortescue, PointsBet, and Zip shares are dropping appeared first on The Motley Fool Australia.

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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 Pointsbet Holdings Ltd and ZIPCOLTD FPO. 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 Bubs Australia Ltd (ASX: BUB) share price is heading south following the company’s retail component update.

At the time of writing, shares in the infant formula company are swapping hands at 58.5 cents, down 7.14%.

Bubs shares drop on equity raising efforts

So far, it’s been a disappointing day for the Bubs share price with investors hitting the sell button.

In its release, Bubs advised it has completed its retail entitlement offer.

The pro-rata accelerated non-renounceable entitlement offer raised a total amount of around $22.9 million.

For every Bubs share owned, eligible retail shareholders could pick up 10.42 Bubs shares at a price of 52 cents apiece.

Valid applications for approximately 12.7 million new shares, worth roughly $6.6 million were received by Bubs.

The remaining 31.3 million new shares not taken under the retail entitlement offer will be allotted to the sub-underwriters.

Together with the institutional component of the entitlement offer and the $40.1 million institutional placement, Bubs has raised $63 million.

The proceeds of the equity raising are expected to be used for a number of strategic initiatives. This includes:

• Working capital to assist with the immediate scale up of group activities due to rapid market expansion
• Building up inventory levels given the current logistics environment
• Operating expenses for the US market (marketing, administration, employment costs, and consultancy fees)
• Expand canning capability at the Deloraine facility to meet growing demand
• Covering the costs associated with the equity raising

Bubs share price snapshot

Despite a challenging 12 months amid COVID-led channel disruptions, the Bubs share price has accelerated almost 30% over the period.

The company’s shares touched a 52-week high of 84.6 cents on 30 May following a supply agreement with the US.

However, since then, its shares have retraced due to market volatility across the ASX which weighed down Bubs shares.

Based on today’s price, Bubs commands a market capitalisation of around $400.17 million.

The post Why is the Bubs share price sinking 7% on Friday? appeared first on The Motley Fool Australia.

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More reading

• Why is the Bubs share price smashing the All Ordinaries today?
• The A2 Milk share price has bubbled 10% higher in a month. What’s going on?
• Do these 2 All Ords ASX shares offer a hefty upside?
• Bubs share price higher after more than tripling Q4 sales
• Why Block, Bubs, Infomedia, and Zip shares are dropping

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 recommended BUBS AUST FPO. 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 end the week on a positive note. At the time of writing, the benchmark index is up 0.85% to 6,948.5 points.

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

IDP Education Ltd (ASX: IEL)

The IDP Education share price is up 4% to $28.55. This may have been driven by a reasonably bullish broker note out of Ord Minnett this morning. According to the note, the broker has initiated coverage on the language testing and student placement company’s shares with an accumulate rating and $30.50 price target.

PolyNovo Ltd (ASX: PNV)

The PolyNovo share price is up 6% to $1.60. This morning this medical device company announced the appointment of its new CEO. According to the release, Swami Raote has been appointed to the role with immediate effect. The release notes that Raote has extensive and deep leadership experience including a 30-year career at Johnson & Johnson.

Sezzle Inc (ASX: SZL)

The Sezzle share price is up over 6% to $1.09. This buy now pay later provider’s shares have had an incredibly volatile day. They were up over 40% in morning trade after investor responded positively to its quarterly update. Since then they have even traded in the red before recovering again. Sezzle’s update revealed major cost cutting plans to put it on a path to profitability. Management warned that this could come at the expense of top line growth.

St Barbara Ltd (ASX: SBM)

The St Barbara share price is up 6% to $1.09. Investors have been buying St Barbara and other gold miner shares after the spot gold price pushed higher overnight. This has led to the S&P/ASX All Ordinaries Gold index rising a sizeable 2.3% on Friday.

The post Why IDP, PolyNovo, Sezzle, and St Barbara shares are pushing higher appeared first on The Motley Fool Australia.

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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 Idp Education Pty Ltd and POLYNOVO FPO. 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 Marley Spoon AG (ASX: MMM) share price is rallying today. Despite no market-sensitive updates, the company did release its results from the quarter ended 30 June 2022.

At the time of writing, the ASX share is trading 12% higher at 27 cents apiece having blown off an intraday high of 30.5 cents.

Marley Soon share price rallies following quarterly

Key takeouts from the quarter include:

• Q2 2022 net revenue at $158 million, +35% growth year-over-year
• H1 2022 net revenue of $308 million, +34% growth year-over-year (+26% growth in constant currency)
• Global Contribution Margin in Q2 at 27.2%, a 50 basis point improvement over the prior
  corresponding period (PCP)
• Q2 Operating EBITDA loss of $4.37 million
• Operating Cash Flow at negative $7.72 million and quarter end cash balance of $42 million
• On track to deliver full year 2022 guidance

What else happened this quarter for Marley Spoon?

The company says that it successfully executed its “three-pillar growth strategy” during the quarter.

This included investment in growing active subscribers, growing basket size and complementing the meal kit business.

Active subscribers grew 13% in the quarter to 309,000 nearly the same level of growth seen in Q1 2022, whereas basket size grew 23% year on year.

Overall, net revenue for Q2 2022 grew 35% year on year leading to an operating EBITDA loss of around $4.4 million, however the company is on track to deliver its full year guidance.

Management commentary

Speaking on the results, Marley Spoon CEO, Fabian Siegel said:

In the second quarter we continued to see good growth that was driven by the successful execution of all three pillars of our growth strategy. We continue to acquire subscribers at attractive unit economics, we have increased average order volumes by expanding our offering to our customers and revenue from our newly acquired ready-to-heat business, Chefgood, further drives growth of our Australian segment.

While the business is growing healthily, we were also able to keep margins stable year-over-year,
offsetting operational headwinds and inflation.

What’s next for Marley Spoon?

Marley Spoon expects further challenges from inflation and supply chain volatility. It reaffirms full-year guidance of “mid-to-high teens YoY net revenue organic growth plus full year contribution from Chefgood; Contribution Margin in-line with 2021 [and]; Operating EBITDA better than [$21 million]”.

Marley Spoon is down more than 90% in the past 12 months.

The post Guess which beaten down ASX share is surging 20% today appeared first on The Motley Fool Australia.

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More reading

• Why IDP, PolyNovo, Sezzle, and St Barbara shares are pushing higher
• Sezzle sizzles: What is going on with this ASX buy now, pay later share?
• Guess which ASX 200 bank has been revealed as the world’s longest dividend-paying share
• ‘Extraordinarily challenging quarter’: Origin share price lifts despite $2.2b write down
• ‘Recovery continues’: Why this ASX retail share surged 35% in morning trade

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Marley Spoon AG. The Motley Fool Australia has recommended Marley Spoon AG. 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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