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The BHP Group Ltd (ASX: BHP) share price has ended the week in negative territory.

At Friday’s market close, shares in the world’s largest miner slipped 3.39% to $42.52. This represents a fall of 8% to when its shares finished trading at the end of last week.

Let’s take a look at what’s weighing down the miner’s shares.

What’s happened to BHP shares?

There are a couple of reasons as to why the BHP share price sunk to a 3-week low today.

Firstly, the S&P/ASX 200 Materials Index (ASX: XMJ) backtracked 2.78% to 16,443.4 points on Friday. When looking at the past week, the index is down a sizeable 8.64%.

The sector represents 39 of the largest companies that specialise in mining, forest products and construction materials.

It appears the general negative sentiment on the BHP’s home sector is weighing down its shares.

Shares in fellow peers, Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) also closed the day in the red by 4.20% and 5.25%, respectively.

In addition, the price for iron ore is fetching at US$131.50 per tonne, down 0.75% for the day as well as touching a 3-week low.

Dragging down the price of the crucial steel-making ingredient is China’s bold move to have more influence over the commodity.

As reported in the Australian Financial Review, the Asian powerhouse is looking to set up a cartel of iron ore buyers. This would centralise purchases as well as help bring iron ore prices down.

However, the big three Australian miners aren’t convinced as China is littered with many small-time players across the countryside. Regulating this and getting them to come to the table is likely to prove extremely difficult for the Xi administration.

Only time will tell as China wants to have this initiative wrapped up by the end of this year.

BHP share price snapshot

Since the beginning of 2022, the BHP share price has travelled sideways to register a gain of 15% so far.

Although, when looking further back to the last 12 months, its shares remain flat for the period.

Listed as the biggest company on the ASX in terms of market capitalisation, BHP is roughly valued at $215.25 billion.

The post BHP share price ends Friday’s session 8% lower for the week appeared first on The Motley Fool Australia.

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More reading

• Brokers name 3 ASX shares to buy today
• ‘Force them to give us a discount’: ASX 200 mining shares lift despite China’s latest move to curb iron ore prices
• ASX 200 midday update: BHP’s NSW coal update, Link takeover on the rocks
• Why I think the BHP share price is a good buy for the long term
• BHP share price pushes higher despite coal sale fail

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

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The S&P/ASX 200 Index (ASX: XJO) has closed on a dire week for ASX tech stocks, in which the Novonix Ltd (ASX: NVX) share price was one of the hardest hit.

The battery materials and technology stock plunged 19.94% over the market’s four-day week. As of Friday’s close, the Novonix share price is $2.50.

For context, the ASX 200 tumbled 6.6% in that time, and the S&P/ASX 200 Information Technology Index (ASX: XIJ) slumped 9.8%.

Let’s take a closer look at what went wrong for Novonix and its ASX 200 technology peers this week.

What went wrong with the Novonix share price this week?

The Novonix share price struggled this week alongside many of the market’s favourite tech stocks.

Block Inc (ASX: SQ2), Xero Limited (ASX: XRO), and WiseTech Global Ltd (ASX: WTC) dropped 25%, 11%, and 9% respectively.

The tech sector’s tumble came on the back of a similar downturn on Wall Street in the United States.

Since the US market closed on Thursday (Friday Aussie time), the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) has slipped 9.4%.  

Meanwhile, the benchmark S&P 500 plummeted into bear market territory during Monday’s session overseas.

That likely lead the broader Australian market to tumble when it opened after the Queen’s Birthday long weekend on Tuesday.

Interestingly, Novonix’s stock actually gained on Thursday and Friday, lifting 1.2% over the consecutive sessions.

However, it fell 8% on Tuesday and was the ASX 200’s worst performer on Wednesday, plunging 14%.

This week’s downturn included, the Novonix share price has fallen 72% since the start of 2022. It’s also 76% lower than it was this time last year.

The post Novonix share price loses 20% in dire week for ASX 200 tech stocks appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 200 bank shares slide to 52-week lows on Friday
• Here are the 3 most heavily traded ASX 200 shares on Friday
• Why is the Coles share price getting off lightly today?
• ASX 200 midday update: GUD crashes, tech shares tumble
• Down 20% today: Why the GUD share price is crashing to a 6-year low

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc., WiseTech Global, and Xero. The Motley Fool Australia has positions in and has recommended Block, Inc., WiseTech Global, and Xero. 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 tech shares have had their returns levelled this year as investor confidence retracts and liquidity dries up. It only takes a glance at the S&P/ASX All Technology Index (ASX: XTX) to quantify the extent of the damage — down 40% year-to-date.

The disastrous tech sector performance carried over into Friday as the market descended a further 1.8%. In turn, investors are looking at a hellacious 6.7% fall in the benchmark index over one short trading week.

However, one ASX tech share defied the odds to secure an eight-year high today.

Which ASX tech share is rising above the rest?

Shares in Silex Systems Ltd (ASX: SLX) finished Friday 5.8% higher at $2.01. If you haven’t heard of the company before, you’d be forgiven. At a market capitalisation of $407.4 million and a relatively obscure business, the company isn’t exactly a household name.

Yet, the lack of public notoriety hasn’t stopped the Silex share price from skyrocketing over the past month. Outstripping many of its ASX tech share peers, the company has ascended more than 50% during the month gone by.

Silex Systems is a research and development company specifically focused on various applications of its own laser enrichment technology. One of those applications is the enrichment of uranium for use in nuclear energy power generation.

Given the lack of price-sensitive announcements this month, it seems possible that the heightened interest in this ASX tech share could be due to the evolving energy crisis hitting Australia. Despite the country never having a nuclear power station, interest in the alternative source has been renewed by runaway prices in electricity and gas markets.

The two major political parties are in opposition with each other over the idea of pursuing nuclear energy. However, with energy bills set to soar, the public interest in a potentially cheaper energy source is rampant.

On 2 June, Silex announced it had executed a non-binding letter of intent between its joint venture partner and Constellation Energy Generation LLC. Notably, Constellation is the largest producer of carbon-free energy in the United States, operating 23 nuclear power stations.

Investors in this ASX tech share will no doubt be watching how the energy crisis develops with a keen eye.

The post Amid the carnage, this ASX tech share just hit an 8-year high appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 200 bank shares slide to 52-week lows on Friday
• TechnologyOne share price is a buy ahead of profit growth acceleration: broker
• Fortescue share price sinks 5% as iron ore price slides
• Why Block, Fortescue, GUD, and Humm shares are sinking today
• Brokers name 3 ASX shares to buy today

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 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 horrible week for ASX shares and the S&P/ASX 200 Index (ASX: XJO). The ASX 200 has lost almost 2% this Friday, which means it has now shaved off a painful 6.7% over the week just gone. With an ASX 200 loss like that, it was never going to be a good week for ASX bank shares.

The ASX 200 big four banks make up almost a fifth of the entire weighting of the ASX 200. Thus, they often go where the index goes (or perhaps it should be the index goes where they go).

But it’s been an especially painful day for the big ASX banks today. We’ve seen the big falls of this week continue for all bank shares. But we’ve also seen several – three of the big four, in fact – hit new 52-week lows.

At the start of June, Westpac Banking Corp (ASX: WBC) shares were more than $24 each. But today, Westpac slid to a new 52-week low of $18.80 a share.

Westpac recovered somewhat to close at $19.19, down 0.72% for the day. But that still puts its losses for June thus far at a whopping 19%.

3 ASX 200 bank shares explore new 52-week lows

Westpac wasn’t alone in exploring new territory. Australia and New Zealand Banking Group Ltd (ASX: ANZ) shares also had a clanger today. This ASX 200 bank started June at over $25 a share. But today saw ANZ fall to a new 52-week low of $20.95 soon after open.

Like Westpac, ANZ did stage a later recovery and closed at $21.16. But we are still looking at a June loss of 15.5%.

Last, but certainly not least, we have Commonwealth Bank of Australia (ASX: CBA).

CBA shares have had a dramatic fall from grace in recent days. For most of 2022, CBA has traded around the $100 a share mark, sometimes over, sometimes under. But we are now well under $90 a share today after CBA’s 3.55% fall.

This banking kingpin hit a new 52-week low of $86.98 this morning and only slightly recovered to $87.26. It’s hard to believe this bank was being priced at $104.36 a share at the start of this month, meaning CBA has now copped a June loss of 16%.

Of course, National Australia Bank Ltd (ASX: NAB) is the odd one out here.

NAB also fell today. But its drop of 1.67% to $25.92 a share was not enough to drag it down to its current 52-week low of $25.08. But NAB only hit its most recent 52-week high of $33.75 in April, so perhaps it had more of a cushion.

The only conclusion that we can draw here is that it has been an absolutely horrible week to own ASX bank shares. No doubt investors will be hoping next week is far kinder.

The post 3 ASX 200 bank shares slide to 52-week lows on Friday appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Friday
• The CBA share price has lost 15% so far in June. Is it worth banking on?
• Why is the Coles share price getting off lightly today?
• ASX 200 midday update: GUD crashes, tech shares tumble
• Down 20% today: Why the GUD share price is crashing to a 6-year low

Motley Fool contributor Sebastian Bowen has positions in National Australia Bank 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 recommended Westpac Banking 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 TechnologyOne Ltd (ASX: TNE) share price was a relatively positive performer on Friday.

The enterprise software company’s shares edged 0.4% lower to $10.09.

This was despite the ASX 200 index ending the day down by 1.8%.

Why did the TechnologyOne share price outperform?

The TechnologyOne share price fared better than most on Friday thanks to a bullish broker note out of Bell Potter.

According to the note, the broker has retained its buy rating but trimmed its price target on the company’s shares slightly to $12.50.

Based on the current TechnologyOne share price, this implies potential upside of almost 24% for investors over the next 12 months.

What did the broker say?

Bell Potter highlights that in recent years TechnologyOne has been guiding to annual profit before tax growth of 10% to 15%.

However, it suspects that the company’s profit growth could go up a gear in FY 2023 thanks to widening margins and further solid revenue growth. As a result, it is expecting management’s guidance to be increased to 15% to 20% next year.

Historically Technology One has typically provided guidance of 10-15% PBT growth each year and in many cases it has delivered a result towards the upper end of this range. In our view, however, this could be about to change.

If both these events occur then the PBT growth will likely be >15% and the company may therefore raise its guidance from 10-15% to 15-20% next year.

Pleasingly, the broker doesn’t expect the company’s stronger growth to stop there. Bell Potter is expecting this positive trend to continue in FY 2024 and beyond.

We therefore believe that, if and when the company lifts the guidance to 15-20% PBT growth, this will be maintained for the foreseeable future.

The post TechnologyOne share price is a buy ahead of profit growth acceleration: broker appeared first on The Motley Fool Australia.

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More reading

• Brokers name 3 ASX shares to buy today
• 5 things to watch on the ASX 200 on Friday
• 2 ASX growth shares to buy for when the market rebounds
• I think these excellent ASX growth shares are buys for 2022 and beyond
• Top ASX dividend shares to buy in June 2022

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 TechnologyOne 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 Fortescue Metals Group Limited (ASX: FMG) share price has come under selling pressure from investors today.

This is despite the iron ore mining outfit not releasing any price-sensitive announcements to the ASX.

The company’s shares closed down 4.69% at $18.71 on Friday after plunging to a three-month low of $18.61 earlier in the day.

It’s worth noting that since this time last Friday, Fortescue shares have tumbled around 13% alongside broader market volatility.

About the iron ore price

After hitting a three-week low of US$131.50, the current price of iron ore is a likely factor weighing down the Fortescue share price today.

The other ASX mining giants were also negatively impacted, with BHP Group Ltd (ASX: BHP) shares shedding 3.98% to close at $42.26 on Friday. The Rio Tinto Ltd (ASX: RIO) share price dropped 4.68% lower to $106.47 apiece at the close.

And looking at the sector-wide performance, the S&P/ASX 200 Resources Index (ASX: XJR) closed 2.63% lower to 5,515.2 points.

China’s latest moves

News surrounding China’s latest ploy to secure cheap iron ore through a domestic centralised buyer may also be causing concern among investors.

As reported by the Financial Times, the Xi Government is seeking to consolidate the country’s iron ore imports through a new entity.

This would lead to an increase in pricing power over the global iron ore industry from Beijing, as well as reduced reliance on Australian exports.

However, some experts are sceptical about Beijing’s ability to enforce such measures on small operators to join the project.

China is the world’s largest consumer of iron ore, with 1 billion tonnes needed to feed its insatiable steel industry.

Currently, the Asian powerhouse takes in about 70% of the world’s iron ore, provided mainly by Australia.

Fortescue share price snapshot

Fortescue shareholders have been on a rollercoaster ride over the past 12 months.

The company’s shares hit a 52-week high of $26.58 last July as iron ore prices accelerated above US$220 a tonne.

However, this was short-lived, with the price of the steel-making ingredient quickly retracing in the following months until November 2021.

The Fortescue share price is down 16% from this time last year.

Based on today’s price, the company commands a market capitalisation of approximately $61.21 billion.

The post Fortescue share price sinks 5% as iron ore price slides appeared first on The Motley Fool Australia.

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More reading

• Why Block, Fortescue, GUD, and Humm shares are sinking today
• ‘Force them to give us a discount’: ASX 200 mining shares lift despite China’s latest move to curb iron ore prices
• Green machine: Here’s why the Fortescue share price is rising today
• Fortescue share price sinks 9% amid painful market sell-off
• Why Block, Evolution, Fortescue, and Magellan shares are sinking today

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

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The S&P/ASX 200 Index (ASX: XJO) is having another day to forget. In late afternoon trade, the benchmark index is down 2% to 6,457.4 points.

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

Block Inc (ASX: SQ2)

The Block share price is down 6.5% to $82.19. This follows a very poor night of trade for the payments giant’s US listed shares. Investors were selling down stocks on Wall Street amid concerns that rate hikes could lead to a recession. The tech sector has been hit particularly hard. So much so, the S&P ASX All Technology index is down 2.2% at the time of writing.

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price is down 4.5% to $18.76. Investors have been selling this mining giant’s shares on Friday amid weakness in the iron ore price. This appears to have been driven by concerns over China’s plan to form an iron ore cartel in order to control prices.

GUD Holdings Limited (ASX: GUD)

The GUD share price is down 20% to $7.71. Investors have been selling this products company’s shares following a profit warning. GUD has downgraded its underlying operating earnings guidance to $147 million in FY 2022. This is down from its previous guidance of $155 million to $160 million. In response to the news, Citi downgraded its shares and slashed its price target.

Humm Group Ltd (ASX: HUM)

The Humm share price has crashed 20% to 46 cents. The catalyst for this has been the collapse of the sale of the company’s BNPL business to Latitude Group Holdings Ltd (ASX: LFS). The two parties agreed to mutually terminate the $250 million deal, which was opposed by a large shareholder and director. Judging by the share price reaction, the market appears to think that Humm has been left holding a lemon.

The post Why Block, Fortescue, GUD, and Humm shares are sinking today appeared first on The Motley Fool Australia.

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More reading

• ASX 200 midday update: GUD crashes, tech shares tumble
• Down 20% today: Why the GUD share price is crashing to a 6-year low
• Latitude share price lifts on cancelled Humm deal
• Block share price sinks again and is now down over 50% since its ASX listing
• Humm share price sinks 11% following termination of $250m BNPL sale to Latitude

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 Block, Inc. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool Australia has recommended Humm Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

BHP Group Ltd (ASX: BHP)

According to a note out of Macquarie, its analysts have retained their outperform rating and $57.00 price target on this mining giant’s shares. This follows news that BHP will be holding onto its energy coal portfolio in New South Wales. Macquarie sees positives from the decision. But its main reason to be positive is the high iron ore and copper prices that the Big Australian is commanding at present. It highlights that this is underpinning significant free cash flow generation. The BHP share price is trading at $42.41 on Friday.

CSL Limited (ASX: CSL)

Another note out of Macquarie reveals that its analysts have retained their outperform rating but cut their price target on this biotherapeutics company’s shares to $312.00. Macquarie believes that CSL is well-placed for growth in the coming years. This is thanks to improving plasma collections, solid demand, the impending acquisition of Vifor Pharma, and the introduction of the Rika platform. The latter has been developed to collect plasma quicker and more comfortably. The CSL share price is fetching $255.68 today.

TechnologyOne Ltd (ASX: TNE)

Analysts at Bell Potter have retained their buy rating but trimmed their price target on this enterprise software company’s shares slightly to $12.50. According to the note, the broker suspects that TechnologyOne’s profit growth could go up a level next year. It notes that management has been guiding to 10% to 15% profit before tax growth in recent years. However, thanks to margin expansion, it is expecting FY 2023’s guidance to be 15% to 20% growth. The TechnologyOne share price is trading at $10.15 today.

The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Friday
• ‘Force them to give us a discount’: ASX 200 mining shares lift despite China’s latest move to curb iron ore prices
• ASX 200 midday update: BHP’s NSW coal update, Link takeover on the rocks
• Why I think the BHP share price is a good buy for the long term
• BHP share price pushes higher despite coal sale fail

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 CSL Ltd. The Motley Fool Australia has recommended TechnologyOne 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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What a sad end to the week the S&P/ASX 200 Index (ASX: XJO) has been enduring so far this Friday. At the time of writing, the ASX 200 has lost another painful 1.85% or so and is now back under 6,500 points.

But let’s not let that ruin our weekends. So let’s now take a look at the ASX 200 shares that are currently topping the share market’s trading volume charts, according to investing.com, instead.

The 3 most traded ASX 200 shares by volume this Friday

Pilbara Minerals Ltd (ASX: PLS)

ASX 200 lithium stock Pilbara is our first share to check out today. So far this Friday, a hefty 15.3 million Pilbara shares have been bought and sold on the share market. There hasn’t been a peep out of Pilbara so far today that we can point to.

However, this lithium producer has suffered a nasty share price hit today. Pilbara shares are presently down by 3.3% at $2.06 a share. It’s this steep drop that seems responsible for this elevated trading volume.

South32 Ltd (ASX: S32)

ASX 200 diversified miner South32 is our next share to check out this Friday. As it currently stands, a notable 18.91 million South32 shares have changed hands. South32 has recently been buying back its own shares, which could be boosting volumes in itself.

However, it’s almost certainly the horrible share price fall we’ve seen with South32 today that is responsible for South32’s high volumes. The miner has suffered a whopping 5.54% drop to $4.18 a share so far today, which puts South32 at a five-day loss of almost 15%.

Telstra Corporation Ltd (ASX: TLS)

Telstra is our third, final and most traded share of the day thus far. So far today, a sizeable 19.21 million of this ASX 200 telco’s shares have found a new home. We haven’t heard anything out of Telstra today either.

But this blue-chip share has not escaped the woes of the broader market either. Telstra has today lost a not-insignificant 1.8% of its value and is now at $3.81 a share at the time of writing. This is the most likely explanation for Telstra’s presence here today.

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

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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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No one can deny that this June has been a pretty horrible one thus far. Perhaps that old adage of ‘sell in May and go away’ is actually proving prescient this year (it’s usually not).

Since the start of the month, the S&P/ASX 200 Index (ASX: XJO) has lost a painful 10.6%, including the 1.8% it has shed today thus far. But it’s been a far worse June for the WiseTech Global Ltd (ASX: WTC) share price.

WiseTech shares have copped a beating so far today. The logistics software provider has shed another 2.2% so far today and is now down to $35.13 a share. Since WiseTech started June at a price of $42.10 a share, the company has now lost almost 17% over June thus far.

That puts the company’s losses over 2022 so far at a nasty 41.3%.

But WiseTech is still one of the top performers of the ASX 200 over a longer time frame. The company is still up an impressive 378% over the past five years, despite the heavy falls we’ve seen over this year.

And, as we covered earlier this month, it’s not as though WiseTech is in any kind of financial trouble. The company still has $380 million in cash on its books and no debt.

Is now a good time to buy the WiseTech Global share price?

So could this be a buying opportunity for WiseTech, the W in the old WAAAX club of ASX high-flyers?

Well, let’s hear from an ASX expert. Sean Fenton from Sage Capital recently sat down with Livewire for a podcast. Here’s what he had to say about WiseTech:

I think Richard White at WiseTech Global has built a great business… A founder-led business. He’s still got a very big equity share, and it’s also strongly aligned. Works very hard, right down to the nitty gritty, to the company. So he’s very involved day to day in managing that.

And, I think, importantly, is just executed in terms of a logistics tech company, going global with a huge array of acquisitions and focusing on what’s important. Getting the subscribers in there. Consolidating tech where he needs to. And managing that’s been quite complex, and they’ve executed very well.

So it’s fairly safe to say that Fenton is bullish on WiseTech shares right now. It will be interesting to see where this ASX growth share goes next.

At the current WiseTech share price, this ASX 200 tech share has a market capitalisation of $11.44 billion, with a dividend yield of 0.25%.

The post Down 17% in June, is the WiseTech share price a wise move for ASX bargain hunters? appeared first on The Motley Fool Australia.

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More reading

• Why are ASX 200 tech shares getting hit hardest today?
• The Wisetech share price is down 33% this year, despite the fact the company’s rolling in cash. What gives?
• How are ASX 200 tech shares performing following the RBA rate hike?
• Why is Audinate outperforming other ASX tech shares today?
• Why did ASX 200 tech shares fall today?

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 positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. 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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