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The S&P/ASX 200 Index (ASX: XJO) looks set to start the week with a decline. In afternoon trade, the benchmark index is down 0.3% to 7,216.6 points.

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

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is down 2.5% to $4.64. This decline appears to have been driven by news that Abbott Nutrition has restarted baby formula production at its reopened Michigan plant in the United States. Any hopes that A2 Milk would be able to take advantage of supply issues in the United States now appear to be evaporating.

Appen Ltd (ASX: APX)

The Appen share price is down 3.5% to $6.18. Investors have been selling the artificial intelligence data services company’s shares amid news that it will be kicked out of the ASX 200 index at the next rebalance. In addition, weakness in the tech sector and a broker downgrade from Citi have weighed on Appen’s shares today.

Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price is down 13% to $13.03. This fund manager’s shares have been sold off for a couple of reasons. The first is the release of a monthly update which revealed another sizeable decline in funds under management. The other is news that S&P Dow Jones Indices has dumped Magellan from the illustrious ASX 100 index.

Tyro Payments Ltd (ASX: TYR)

The Tyro Payments share price is down over 7% to 94 cents. This payments company’s shares have come under pressure on Monday after it was also kicked out of the ASX 200 index. When a share drops out of a major index it can lead to increased selling from index funds that track the index and fund managers with strict investment mandates.

The post Why A2 Milk, Appen, Magellan, and Tyro shares are dropping today appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: Magellan smashed, Liontown signs Tesla deal
• Why is the Magellan share price tumbling 10% on Monday?
• Appen and PolyNovo tumble after being kicked out of the ASX 200 along with these shares
• These are the 10 most shorted ASX shares
• 5 things to watch on the ASX 200 on Monday

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 Appen Ltd and Tyro Payments. The Motley Fool Australia has recommended A2 Milk and Tyro Payments. 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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Bitcoin (CRYPTO: BTC) miners, not unlike gold prospectors of yesteryear, get rewarded for their efforts via payments in Bitcoin.

You can see then how rocketing crypto prices last year drew in a large wave of new miners.

The world’s top token by market cap commenced trading in 2021 for just under US$32,000, right around the current price of US$31,206.

But it was the meteoric increase in the price over the following months, which saw Bitcoin hit record highs of US$68,790 on 10 November, that really spurred new miners into the action and saw many existing miners expand their capacities.

Why then might they be selling their holdings today?

US$6.3 billion in Bitcoin transferred to exchanges in May

Citing data from Coin Metrics, Bloomberg reports that miners transferred 195,663 of their tokens to exchanges last month.

At May’s average Bitcoin price of US$32,000, that works out to just under US$6.3 billion.

No chump change, that.

While transferring to an exchange doesn’t necessarily mean the miners will sell their holdings, the big spike in transfers has certainly caught crypto investors’ attention.

So, what’s happening?

Commenting on the multi-billion dollars in transfers in May, director of content at Compass Mining Will Foxley said, “I think miners are just talking about the macro environment and think it is probably prudent to sell Bitcoin in these levels in order to keep the operations safe.”

Indeed, junior Bitcoin miner Cathedra Bitcoin sold most of its holdings to stay afloat.

“We have spent the last several weeks restructuring our balance sheet and operations to ensure Cathedra is well-positioned to endure a prolonged economic downturn,” Cathedra CEO AJ Scalia said.

Costs up, returns down

Miners betting that the token would regain its 54% losses from 10 November’s all-time highs are still waiting. And with global power prices surging – the vast computer arrays in mining operations use astonishing amounts of electricity – their costs are going up while their rewards have gone backwards.

And the publicly-listed miners are taking a second wallop from the struggling share markets, making capital raising more difficult.

If the Bitcoin price rebounds, we’re likely to see the miners return to holding their tokens tight. But for now, many have little choice but to sell at the current prices to keep their operations running.

The post Why are Bitcoin miners selling their holdings? appeared first on The Motley Fool Australia.

More reading

• What’s the outlook for crypto prices in June? Industry insiders weigh in
• 2 top cryptocurrencies to buy and hold for decades
• Why did crypto prices get massacred in May?
• Has the Bitcoin price bottomed?
• Why is the Bitcoin price bouncing back this week?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin. The Motley Fool Australia has positions in and has recommended Bitcoin. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) is off to a shaky start to the trading week so far this Monday. At the time of writing, the ASX 200 has slipped 0.32% today and is now back near 7,200 points.

But rather than letting that cloud our Monday. Let’s instead take a look at the ASX 200 shares that are presently at the top of the share market’s volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Monday

AMP Ltd (ASX: AMP)

ASX 200 financial services company AMP is our first company up today. So far this Monday, a notable 13.75 million AMP shares have changed hands. There’s been no major news or announcements out of AMP so far this Monday.

Saying that, the AMP share price is comprehensively bucking the market’s malaise so far today, and is currently up a healthy 1.96% at $1.14 a share. It’s this rise upwards that has probably sparked this elected volume we see.

Pilbara Minerals Ltd (ASX: PLS)

Pilbara Minerals is next up this Monday. As it currently sits, this ASX 200 lithium stock has had a sizeable 16.88 million of its shares find a new home. There have been no developments out of Pilbara today either. However, we have also seen a decisive share price movement for Pilbara today.

Unfortunately for investors, it’s gone the opposite way to AMP. Pilbara shares are currently at $2.43 each, having lost 0.82% so far today. Saying that, soon after market open, this company went as low as $2.35 a share (down more than 3%). Thus, it is probably this loss that has resulted in Pilbara’s presence here.

Liontown Resources Limited (ASX: LTR)

Another ASX 200 lithium stock in Liontown rounds out our list today. This Monday has had a hefty 17.28 million Liontown shares bought and sold at the time of writing. This volume comes after Liontown dropped some big news this morning.

As we covered earlier today, Liontown has signed a definitive offtake agreement with US electric vehicle manufacturer Tesla Inc (NASDAQ: TSLA) for the supply of lithium spodumene concentrate. Despite this development, Liontown shares have lost 2.76% of their value so far today at $1.24 a share.

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

More reading

• Down 5% in a month, is the AMP share price a buying opportunity?
• Do Novonix shares pay dividends?
• What to expect from the RBA interest rate decision this week
• ASX 200 midday update: Magellan smashed, Liontown signs Tesla deal
• Could the Core Lithium share price be set to take off again in June?

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

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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.

Investors get excited about stock splits. It’s certainly understandable; getting more shares of your favorite company can bring a smile to the faces of even the most stoic among us.

It’s also true that companies that announce their intentions to split their stock tend to see their share prices run up as the split date approaches. Even though stock splits do not fundamentally alter the value of a business — they simply create more slices of the same pie — many people are happy to buy more shares at lower prices.

Professional traders know this, so they also tend to buy stocks that are about to split ahead of their split dates. All this buying can drive share prices up, bringing in more momentum traders and adding fuel to the fire.

But that’s not what this article is about. Yes, Amazon (NASDAQ: AMZN) is scheduled to split its stock 20-for-1 this weekend. Yet there are far more important and exciting reasons to buy shares today.

Here’s why the cloud-computing juggernaut’s stock price is set to soar. 

1. AWS is a beast

When most people think of Amazon, they understandably think of its massive e-commerce business. The online retail leader commands the lion’s share of many global e-commerce markets. For example, roughly 57% of all online retail purchases in the U.S. are made on Amazon’s platform, according to digital payments research company PYMNTS. So the company’s e-commerce sites are how many people engage with its services every day.

Yet many businesses rely on Amazon for an entirely different reason. Amazon Web Services (AWS) is the dominant cloud computing platform. It’s the infrastructure millions of organizations use to power their cloud-based applications. AWS makes it easy to access high-performance computing and storage, as well as an ever-growing array of cloud services. Cutting-edge technologies, such as machine learning and artificial intelligence, are also readily available. 

With lower up-front costs, it’s often more cost-effective for start-ups to use AWS than building out their own data centers. AWS also gives small businesses access to many of the same tools as their larger rivals. And large companies can use AWS to quickly scale operations while gaining additional security above what their own on-premise networks could provide.

For these and other reasons, AWS has become a huge and fast-growing business for Amazon, as well as its most important profit driver. The segment’s revenue surged 37% year over year to $18.4 billion in the first quarter alone, while its operating income soared an even more impressive 57%, to $6.5 billion. 

With the shift to the cloud still in its early innings, AWS’ growth should continue to fuel Amazon’s expansion for many years to come.

2. Advertising is booming

Digital advertising is another often-overlooked profit driver for Amazon. With so many consumers beginning (and often ending) their online shopping searches on Amazon, the company’s ad platform has become an indispensable marketing tool for countless third-party merchants.

Amazon offers what few other companies can: the ability to advertise to consumers when they are most ready to buy. People go to the platform for the express purpose of searching for and purchasing the items they need and want. Conversion rates on its ad network thus tend to be much higher than on general search engines or social media sites. Merchants know this, and they’re willing to pay large sums to gain access to these customers.

Amazon’s advertising business, in turn, is growing rapidly. Ad revenue jumped 23% to a whopping $7.9 billion in the first quarter. With more ad spending moving to digital channels every day, Amazon’s burgeoning ad business is set to grow far larger in the years ahead.

3. The stock is cheap

The broad market sell-off has battered the prices of even the best businesses this year. That includes Amazon, which has seen its share price shed more than a quarter of its value since the beginning of the year. 

The stock now trades for roughly 20 times its projected operating cash flow of $121 per share in 2022. That’s at the bottom end of the range it’s traded within over the past five years. 

AMZN price to CFO per share (TTM). Data by YCharts. TTM = trailing 12 months; CFO = cash flow from operations.

Amazon’s valuation looks even more attractive when we use analysts’ estimates for 2023. Its shares can currently be had for less than 14 times its expected operating cash flow for next year of $176 per share. 

Said differently, Amazon’s stock is unlikely to be trading at its current price in the coming years. What’s far more likely is that investors will bid up the shares as AWS and advertising sales drive its profits sharply higher. 

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

The post 3 reasons Amazon stock could soar after its split appeared first on The Motley Fool Australia.

More reading

• Amazon shareholders approve 20-for-1 stock split. Here’s what investors should know
• Amazon stock rallied today — here’s why now might be the time to buy
• 3 reasons to buy Amazon and 1 reason to hesitate
• 2 reasons Amazon stock is slumping today
• Why Meta Platforms stock just rose while Amazon sank

Joe Tenebruso has the following options: long January 2024 $2,000 calls on Amazon. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. 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.

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

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decline. At the time of writing, the benchmark index is down 0.3% to 7,216.6 points.

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

GrainCorp Ltd (ASX: GNC)

The GrainCorp share price is up 4% to $10.04. Investors have been buying this grain exporter’s shares following the release of a positive broker note out of Macquarie. Its analysts have retained their outperform rating and $11.10 price target. Macquarie believes the company’s outlook is positive thanks to the potential for another strong winter crop.

New Hope Corporation Limited (ASX: NHC)

The New Hope share price is up 2% to $3.98. The catalyst for this rise is news that this coal miner’s shares will be added to the ASX 200 index at the next quarterly rebalance. New Hope will join the benchmark index at the commencement of trade on 20 June.

Tabcorp Holdings Limited (ASX: TAH)

The Tabcorp share price is up 5% to 98.6 cents. Investors have been buying this gambling company’s shares after it settled its Racing Queensland litigation for $150 million. This settlement remains conditional upon the commencement of legislation that will implement proposed reforms by the Queensland Government. These reforms will be a very big boost to Tabcorp’s business

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is up 2.5% to $32.61. This appears to have been driven by another rise in oil prices on Friday night. Traders were bidding oil higher despite OPEC announcing plans to increase its output. They appear to expect supply to remain tight for some time to come. Oil prices have continued to rise during Asian trade.

The post Why GrainCorp, New Hope, Tabcorp, and Woodside shares are pushing higher appeared first on The Motley Fool Australia.

More reading

• Why is the Tabcorp share price racing higher today?
• ASX 200 midday update: Magellan smashed, Liontown signs Tesla deal
• Woodside shares or Whitehaven? What’s the best ASX 200 value play?
• Appen and PolyNovo tumble after being kicked out of the ASX 200 along with these shares
• 5 things to watch on the ASX 200 on Monday

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 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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No doubt investors would be painfully used to the AMP Ltd (ASX: AMP) share price falling. Over the last decade or two, AMP has seen one of the most dramatic falls from grace in the history of the ASX. The once-venerated institution has gone from a respected ASX 200 blue chip share worth over $13 in 2001 to today’s price of around $1 a share.

Yes, today AMP shares are being priced at $1.14 each. That’s up a healthy 1.79% for the day today. But even so, it still leaves AMP with a one-month loss of more than 5%.

AMP’s woes have stemmed from many years of struggles following the reputation-shattering 2018 banking royal commission. It has already sold its flagship life insurance arm, and more recently offloaded parts of its Collimate Capital division (formerly known as AMP Capital).

But could these share price levels finally represent a buying opportunity for the AMP share price? After all, surely there has to be a pricing point for the company… One that perhaps represents good value after the five-year fall of 77% that is now behind us?

Is the AMP share price in the buy zone today?

Well, one expert investor who thinks AMP is a bargain right now is Geoff Wilson, the founder and chairman of Wilson Asset Management (WAM). He is the fund manager of popular ASX listed investment companies (LICs) like WAM Captial Ltd (ASX: WAM).

According to a recent report in the Australian Financial Review (AFR), Wilson reportedly picked AMP as a buy during a recent investment roadshow. He pointed out that AMP has net tangible assets worth $1.35 per share. In addition, he noted that AMP is “tipped to return somewhere between 50¢ and 60¢ when it completes the sale of its funds management business”.

“So you’re buying at a 20 per cent discount now, and when they pay back half the money it’s what, a 30-plus per cent discount,” Wilson stated.

So that’s a pretty emphatic endorsement. But only time will tell if his bullish projections turn out to be accurate. No doubt AMP investors will have their fingers crossed that they are.

At the current AMP share price, this ASX 200 share has a market capitalisation of $3.75 billion.

The post Down 5% in a month, is the AMP share price a buying opportunity? appeared first on The Motley Fool Australia.

More reading

• This is when the pain will end: expert
• Why these 2 ASX 200 shares are undervalued opportunities: WAM
• ‘The stock can double’: Expert names 2 ASX shares market hasn’t woken up to
• Can the AMP dividend yield really push to 15%?
• The board has acknowledged a ‘disappointing experience’ in relation to the AMP share price. What now?

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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2022 so far has been rough for many ASX investors. But the market’s struggles has also brought some quality ASX All Ordinaries Index (ASX: XAO) shares to their lowest price in years. Talk about a bargain!

Let’s take a look at these three quality stocks reaching 52-week lows on Monday.

3 quality ASX All Ordinaries shares trading at 12-month lows

Bigtincan Holdings Ltd (ASX: BTH)

The first quality ASX All Ordinaries share trading at a new 52-week low on Monday is Bigtincan.

The company’s stock reached a low of 47 cents this morning, representing a 4.08% tumble and the lowest it’s been in more than two years.

Bintincan provides software to sales and service providers that helps increase sales and customer satisfaction.

The company has been struggling in 2022 despite releasing plenty of good news.

The most recent update from the company detailed a new partnership and cash flow breakeven target, as well as reaffirming its financial year 2022 guidance.

However, Bigtincan’s stock might be being weighed down by the broader technology sector.

The S&P/ASX All Technology Index(ASX: XTX) has tumbled nearly 33% year to date amid rising inflation and interest rate hikes.

Dubber Corp Ltd (ASX: DUB)

Dubber is another embattled – but still high quality – All Ordinaries tech share trading at a new 52-week low today.

The cloud-based call recording and voice artificial intelligence provider’s stock slumped to 70 cents at its lowest point today. That’s down nearly 8% from Friday’s close and the lowest it’s been since the onset of the COVID-19 pandemic.

The latest quarterly report out of the company showed rising revenue, subscribers, and annual reoccurring revenue.

Frontier Digital Ventures Ltd (ASX: FDV)

The final quality ASX All Ordinaries share to reach a new 52-week low is Frontier Digital Ventures.

The stock hit a low of 83 cents on Monday – the lowest it’s been in nearly two years and around 5.7% lower than its previous close.

Frontier Digital Ventures operates online marketplace businesses in emerging markets.

The last time the market heard from the company was in late April. Then, it released its activities report for the March quarter, detailing record quarterly and monthly revenue and positive earnings for the period.

The post 3 quality ASX All Ordinaries shares trading at 52-week lows today appeared first on The Motley Fool Australia.

More reading

• Why did the Dubber share price push 18% higher today?
• A top fund manager has been buying these ASX tech shares after the market selloff
• 3 ASX tech shares we’re sticking with: Forager
• Here’s why the Bigtincan share price is jumping 10% today
• Are these small 2 ASX growth shares now at compelling value?

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 BIGTINCAN FPO, Dubber Corporation, and Frontier Digital Ventures Ltd. The Motley Fool Australia has positions in and has recommended BIGTINCAN FPO and Dubber Corporation. The Motley Fool Australia has recommended Frontier Digital Ventures 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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ASX 200 energy shares are back in the foyer today as traders push the sector more than 35% higher on the year to date.

The S&P/ASX 200 Energy Index (ASX: XEJ) has jumped around 180 basis points on Monday after spiking to that level straight past the open.

Oil is trading around its highest mark in three months. Brent crude oil, on which more than 90% of the world’s oil is priced, has pushed to US$120 per barrel.

The move “comes as the world’s biggest exporter, that is Saudi Arabia, is saying that it’s raising prices for its Asian customers – that’s their biggest markets – and it’s also being raised more than expected,” per reporting from Bloomberg.

“We’re seeing the hike coming as we’re seeing a big rebound in Asia… as regions from Singapore to China lift many of their COVID-19 restrictions.”

The push seems to have helped ASX 200 energy shares. These three shares have nudged past 52-week highs, alongside the price of oil, as seen below.

Santos Ltd (ASX: STO)

Santos shares cruised to an early high of $8.58 per share before levelling off to secure a 1.9% gain at the time of writing.

The hydrocarbons giant has seen its share price snake higher these past six months in an upward channel. It has now surged to its yearly highs after a recent breakout.

Aside from oil, natural gas prices are surging back towards previous highs after setting two new 52-week highs in the past few months.

With this momentum in its underlying spot markets, it stands to reason investors are buying into that strength with the Santos share price as well.

This year to date, Santos shareholders have clipped an 11% gain.

Whitehaven Coal Ltd (ASX: WHC)

Whitehaven has nudged around 160 basis points higher after trading as high as $5.54 earlier in the day.

After plateauing at three-month highs in May, shares have broken out of a sideways channel to set another 52-week high.

Alongside its liquid counterpart, the price of coal is also trading up around its yearly highs after going vertical in May. Prices have originally spiked more than 76.8% to new heights in March before consolidating back to the longer-term trend.

However, prices again thrust higher in May and poked yearly highs of US$427 per tonne. Coal now trades at US$412.50 per tonne, up from US$318/tonne in May.

Again with that kind of momentum investors appear to be buying into the surging price of coal with Whitehaven shares.

Beach Energy Ltd (ASX: BPT)

Shares of Beach Energy nudged to 52-week highs early in the session on Monday and now trade at $1.86 apiece.

After flatlining from March to May, the stock rallied to new highs in unison with the oil price as investors continue backing the oil and gas trade.

Adjoining the basket of oil and gas companies clipping early gains on Monday, Beach shares have already surpassed one third of their four-week average volume at more than 5.24 million shares in trading.

It recently affirmed production guidance as well. With the current rise in oil, this guidance clarity validates the predictability of Beach’s future cash flows, numbers analysts use in calculating various estimates.

Hence, the share price is heading towards a consensus price target of $1.91 per share, according to Bloomberg data. We’ll see if it has the legs to lunge past that mark.

Beach investors have also enjoyed a 36% gain over the past 12 months of trade, with shares trading in line with January 2021 highs.

The post 3 ASX 200 energy shares cracking new 52-week highs on Monday appeared first on The Motley Fool Australia.

More reading

• What’s on the cards for the Beach Energy share price in June?
• Why is the Santos share price off to a cracking start to the week?
• Woodside shares or Whitehaven? What’s the best ASX 200 value play?
• 5 things to watch on the ASX 200 on Monday
• These were the best performing ASX 200 shares last week

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 Tesla Inc (NASDAQ: TSLA) share price has had a tough time in US markets lately.

The global giant’s shares plummeted 9% to $703.55 on the NASDAQ on Friday. In after hours trade, the company’s share price fell a further 0.46%.

So what caused the Tesla share price to sink so rapidly?

Elon Musk’s ‘super bad’ feeling about the economy

Tesla is a world-leading Electric Vehicle (EV) maker headquartered in the US state of Texas.

The company’s high-profile CEO Elon Musk unveiled plans to cut 10% of Tesla’s staff on Friday, Reuters reported.

In an email seen by the publication, Musk revealed he had a “super bad feeling” about the economy and needed to cut staff. Musk reportedly said:

Tesla will be reducing salaried headcount by 10% as we have become overstaffed in many areas. Note this does not apply to anyone actually building cars, battery packs or installing solar. Hourly headcount will increase.

However, in a Tweet after the US market had closed on Saturday, Musk backpedalled on plans to cut staff, saying: “Total headcount will increase, but salaried should be fairly flat.”

Total headcount will increase, but salaried should be fairly flat

— Elon Musk (@elonmusk) June 4, 2022

https://platform.twitter.com/widgets.js

The news comes after Tesla last week ordered staff to return to work in the office or leave the company. Musk said, “If you don’t show up, we will assume you have resigned.”

Telsa had close to 100,000 employees at the end of 2021.

However, Tesla was not the only share to fall on the NASDAQ on Friday. The Nasdaq-100 Index slipped 2.67% on Friday, with Apple Inc (NASDAQ: AAPLE) dropping 3.86% and Microsoft Corporation (NASDAQ: MSFT) slipping 1.66%.

Tesla share price snapshot

The Tesla share price has climbed 16% over the past 12 months but has fallen a substantial 41% year to date.

For perspective, the NASDAQ 100 Index has shed 9% in a year, dropping 24% year to date.

The post Why did the Tesla share price just dump 9%? appeared first on The Motley Fool Australia.

More reading

• Why Tesla stock did a U-turn today
• The Tesla share price has rallied 18% in less than a fortnight. What’s going on?
• Why Tesla stock is still falling today
• Why the Tesla share price stalled on Tuesday
• If you’d bought $5,000 of Tesla shares 5 years ago, woohoo! Here’s how much you’d have now

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

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The PointsBet Holdings Ltd (ASX: PBH) share price is under pressure again on Monday.

In afternoon trade, the sports betting company’s shares are down over 3% to $2.64.

This means the PointsBet share price is now down by 63% since the start of the year.

Is the PointsBet share price going to rebound?

The good news for shareholders is that a couple of leading brokers believe the PointsBet share price has the potential to rebound materially. In fact, both brokers are tipping the company’s shares to more than double over the next 12 months.

According to a recent note out of Bell Potter, its analysts have speculative buy rating and $6.00 price target on the company’s shares.

Its investment thesis is based largely on its proven ability in Australia and large market opportunity in North America. In respect to the latter, the broker commented:

PointsBet is pursuing a very large opportunity in the sports betting market in North America. The market is still very much in its infancy as, until recently, sports betting was prohibited in the US and Canada and states/provinces across both countries are only now – or recently – introducing legislation which allows a limited number of licensed operators to provide sports betting.

PointsBet is aiming to be one of the leading providers (i.e. top 5) of online sports wagering in at least 17 states across the US and one province in Canada over the next two years. The size of sports wagering market in the US alone is estimated to be b/w US$8-10bn in 2025.

Who else is bullish?

Another broker that is bullish on the PointsBet share price is Goldman Sachs. It recently retained its buy rating with a $5.78 price target.

Its analysts acknowledge that sentiment in the tech sector for loss-making shares is challenging, it believes investors should stick with the company. Particularly given its positive long term outlook and large addressable market. Goldman said:

We reiterate Buy on PBH, given i) leverage to burgeoning US OSB+iGaming TAM, ii) we see it as well positioned to carve out niche share of the North American market, iii) upside risk to LR sustainable margins and scalability benefits ahead, iv) market over-extrapolating recent promotional intensity which has already eased, and v) valuation support given significant upside still to our revised multiples.

The post Why these top brokers say the beaten-up PointsBet share price has 100% upside 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. 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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