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In afternoon trade, the BrainChip Holdings Ltd (ASX: BRN) share price is on course to end the month in the red.

At the time of writing, the artificial intelligence (AI) technology company’s shares are down 1.5% to $1.11.

But that won’t take the shine off what has been a stellar month for the BrainChip share price.

How is the BrainChip share price performing in May?

Barring a late afternoon selloff, the BrainChip share price is on course to record a 13% gain during the month of May.

This gain appears to have been driven by news that the company has been accepted into the Arm AI Partner Program.

The Arm AI Partner Program is an ecosystem of hardware and software specialists aiming to help developers deliver the next generation of AI solutions.

In response to the news, the company’s CMO, Jerome Nadel, said:

It’s valuable for BrainChip to be part of Arm’s portfolio of partners as Arm is not only a leading provider of AI technologies, but an industry influencer. Arm offers us another channel to give end users access to Akida, the world’s first commercial neuromorphic AI accelerator, and to foster the development of best-in-class AI products and applications.

Despite facing competition from global giants such as IBM, BrainChip believes that its Akida processor has game-changing capabilities in AI markets. The release highlights that its processor mimics the human brain to analyse only essential sensor inputs at the point of acquisition, processing data with “unparalleled” efficiency, precision, and economy of energy.

Time will tell what happens with BrainChip in this highly competitive industry, but with a market capitalisation of almost $2 billion and next to no revenue, a lot is certainly riding on the company succeeding.

The post Why has the BrainChip share price performed so strongly in May? appeared first on The Motley Fool Australia.

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• Why is the BrainChip share price rocketing 15% higher today?

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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Few shares of the S&P/ASX 200 Index (ASX: XJO) have had a rougher trot in recent years than the Magellan Financial Group Ltd (ASX: MFG) share price. It was only back in February 2020 that Magellan was a $65 share. Today, it is going for $15.75 at the time of writing, down a nasty 2.4% for the day so far.

This latest loss puts Magellan down more than 17% in 2022 so far, and down almost 62% over the past 12 months. Saying that, the company has bounced off of the new 52-week low of $13.22 that we saw back in March.

It’s been a long series of unfortunate events that have culminated in Magellan losing so much of its value over the past two years or so. We’ve had the departure of Magellan’s co-founder and former chief investment officer/stock-picking star Hamish Douglass. We’ve also had chronic underperformance of Magellan’s investment funds, the loss of several institutional investors and a significant decline in funds under management.

But now that the Magellan share price seems to have found a bottom, could it be about to stage a big comeback this June?

Is the Magellan share price about to stage a June comeback?

Well, the answer is no, at least according to ASX broker Morgan Stanley. As my Fool colleague James reported earlier this month, Morgan Stanley Is still maintaining an underweight rating on Magellan shares, with a 12-month share price target of just $11. If Magellan hits $11 a share, it would fall well below its current 52-week low of $13.22.

Morgan Stanley reckons Magellan’s continuing fund outflows will continue unless the company starts delivering some outperformance in its investment funds. The broker is arguing that until some of Magellan’s long-term performance metrics improve, investors will continue to see little reason to invest in Magellan’s offerings.

So it’s probably fair to say that Morgan Stanley is not pencilling in a June comeback for the Magellan share price. The broker could be wrong of course, but we shall have to wait and see.

At the current Magellan share price, this ASX 200 fund manager has a market capitalisation of $2.93 billion, with a trailing dividend yield of 14.22%.

The post Can the Magellan share price stage a comeback in June? appeared first on The Motley Fool Australia.

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• What’s going on with the Challenger share price today?
• Why is the Magellan share price marching higher today?
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• Why is the Magellan share price up 7% 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 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 market has slipped back into the red on Tuesday and some S&P/ASX 300 Index (ASX: XKO) shares are feeling the impact. And for some that were already trading around their lowest point in 12 months, today’s dip has brought unfortunate milestones.

Let’s take a closer look at three ASX 300 shares that have fallen to their lowest point in more than a year on Tuesday.

3 ASX 300 shares falling to their lowest in 12 months

Nine Entertainment Co Holdings Ltd (ASX: NEC)

The Nine share price tumbled to a new 52-week low of $2.17 today – representing a 4.4% drop.

That’s the lowest the ASX 300 share has traded at since late 2020 and seemingly the result of a continued two-month sell-off.

The media company’s stock has dumped 26% of its value since the end of March.

Centuria Capital Group (ASX: CNI)

The Centuria share price also hit a long-forgotten low on Tuesday, slumping to trade at $2.19 – 2.2% lower than its previous close.

Much like Nine, the ASX 300 share hasn’t traded at such levels since November 2020.

Interestingly, the stock’s dip follows seemingly positive news from the property-focus investment management business. The company announced it has secured $223 million of healthcare and retail assets for its existing institutional partnerships this morning.

The Centuria share price is currently 37% lower than it was at the start of 2022.

oOh!Media Ltd (ASX: OML)

The final ASX 300 share trading at a 52-week low is oOh!Media. It hit a low of $1.35 on Tuesday – representing a 4.25% fall on its previous closing price.

The ‘out of home’ advertising company’s stock has seemingly struggled to gain traction after rebounding from a post-pandemic drop in late 2020.

It has fallen a notable 20% year to date. It’s also 60% lower than it was five years ago.

The post 3 ASX 300 shares slumping to 52-week lows on Tuesday appeared first on The Motley Fool Australia.

More reading

• Why has the BrainChip share price performed so strongly in May?
• Can the Magellan share price stage a comeback in June?
• Why is the Suncorp share price cratering today?
• Investing fails: I never want to repeat these 3 embarrassingly bad moves
• Why ASX lithium shares have ‘absolutely more room to run’ in 2022: expert

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 recommended oOh!Media 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 Suncorp Group Ltd (ASX: SUN) share price is tanking today after a top broker downgraded it due to “structural” risks from climate change.

Shares in the insurance and banking group have so far tumbled 5.12% to a three-week low of $11.50.

This makes the share the worst performer on the S&P/ASX 200 Index (ASX: XJO) at the time of writing.

For comparison, the Insurance Australia Group Ltd (ASX: IAG) share price and QBE Insurance Group Ltd (ASX: QBE) share price are also falling, by around 3% and 2% respectively.

What’s up with the Suncorp share price?

No catastrophe (CAT) insurer can escape the impact of climate change. But the Suncorp share price could also be taking a beating after Morgan Stanley cut its price target with an “underweight” rating, according to the Australian Financial Review.

The broker reckons that Suncorp and IAG are more exposed to catastrophic weather events than QBE. QBE is a more diversified business.

Morgan Stanley said:

Investors have been discounting climate change and CAT risks as cyclical for insurers, but we think they are structural as our new analysis shows.

Consensus ratings are heavily OW [overweight] on both SUN and IAG, leaning on both stocks being cheap because they have de-rated in the past three years, and also ascribing the ongoing over-runs on CAT costs as cyclical one-offs or sheer bad luck.

We would say that just because SUN and IAG have de-rated recently, does not mean that SUN and IAG are cheap enough.

When cheap isn’t cheap enough

The Suncorp share price has de-rated by around two times price-to-earnings (P/E) points to circa 14 times consensus P/E. The IAG share price shed around 3 times P/E points to 15 times consensus.

But despite the big sell-off today, there is further downside risk to the Suncorp share price, according to Morgan Stanley.

The broker lowered its 12-month price target on Suncorp to $10.50 from $12.50 a share. This implies that the Suncorp share price has to fall another 9% before reaching fair value.

The Suncorp share price vs. the IAG share price

The IAG share price was also downgraded by the broker. Morgan Stanley trimmed its 12-month price target to $3.70 from $4.05 a share.

The reason why IAG is fairing a little better is probably because the broker kept its “equal-weight” recommendation on the shares.

With the big loss in the Suncorp share price today, it is now down 0.2% since the start of 2022. At least that’s a bit better than the IAG share price, which has shed almost 2% of its value since the start of January.

In comparison, the ASX 200 is nursing a loss of 4.6% for the calendar year.

The post Why is the Suncorp share price cratering today? appeared first on The Motley Fool Australia.

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• Is the IAG share price a defensive buy amid rising interest rates?
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• Broker names 2 ASX 200 shares with major upside potential
• How might the IAG share price fare with another ‘catastrophe’?
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Motley Fool contributor Brendon Lau has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Insurance Australia 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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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.

All investors make mistakes from time to time, and I’m no exception. I’ve lost money and missed opportunities to maximize my savings growth on multiple occasions. I’m not proud of it but I’ve learned a lot as a result of these costly errors.

Here are three I plan never to repeat — and hopefully you won’t either.

1. Not contributing to my retirement account regularly

I opened my first retirement account when I was 20 years old but there were several years I didn’t contribute much, if anything, to it. I didn’t have a ton of cash to spare back then and retirement seemed pretty far away, so I didn’t think skipping a few years would make a difference.

Now, a decade later, I really wish I’d consistently put money away for retirement in my 20s. I understand now that those early contributions are some of the most important for my retirement. They’re going to be invested the longest, so they can grow much more than contributions I’ve made more recently.

Fortunately, I learned from this mistake while I was still fairly young. Now, I make retirement contributions a high priority. I try to save at least 15% of my annual income each year and I set reminders to myself to make contributions monthly so I don’t forget.

2. Investing in things I didn’t understand

I bought some cryptocurrency during the 2017 boom without knowing too much about it. I had relatives who had made quite a bit of money trading crypto at the time and, like many others, I decided to try to cash in before prices went even higher.

While I did make a small profit, my limited crypto knowledge definitely hampered me. There were times when I bought coins while prices were high, only to watch them fall the next day. And sometimes I sold some when I could’ve made more money by holding onto them. Those errors may not have happened if I’d understood what I had and what was driving the extreme volatility. But as it was, I was often making decisions in response to the coins’ recent performance.

Since then, I’ve learned that I can do a lot better by taking the time to understand my investments and focusing on their long-term growth potential. I tend to be wary of stocks that skyrocket overnight, like meme stocks, and do my best to tune out to a lot of the internet hype.

3. Not paying enough attention to investment fees

I didn’t think much about investment fees when I first started investing, especially since they came directly out of my account. As a result, I can’t be sure how much I paid in investment fees over the years or how much I could’ve saved if I’d focused on low-cost investments from the start.

Before I invest in anything today, I make sure to look into the fees associated with it and I try to keep these as low as possible so I can hold on to more of my earnings. One of the best ways to do this is investing in index funds. These bundles of stocks mimic the performance of a market index, and they instantly diversify your savings. They’re also known for being really affordable. The best S&P 500 index funds only charge you about $3 per year for every $10,000 you have invested in the fund.

I can’t go back and undo the investment mistakes I’ve made so far, but I can use what I’ve learned to ensure they never happen again. In addition to taking these steps, I also review my investments each year and look for opportunities to improve my portfolio’s performance. That doesn’t mean I’ll never make any investing mistakes again, but I at least feel confident that I’ll continue to improve over time.

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

The post Investing fails: I never want to repeat these 3 embarrassingly bad moves appeared first on The Motley Fool Australia.

More reading

• Why is the Suncorp share price cratering today?
• Why ASX lithium shares have ‘absolutely more room to run’ in 2022: expert
• If you’d bought $5,000 of Tesla shares 5 years ago, woohoo! Here’s how much you’d have now
• The Rio Tinto share price has leapt 11% in 3 weeks. Is there more to come?
• 3 ASX mining shares going gangbusters on Tuesday

The Motley Fool has a disclosure policy.

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

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ASX lithium shares have been amongst the top performers on the index over the past 12 months.

This comes on the back of soaring prices for the lightweight, conductive metal. Lithium is a core component in the rapidly growing battery market that’s powering the global rise of EVs.

So, what kind of outperformance are we talking about?

Well, since this time last year the All Ordinaries Index (ASX: XAO) is up 1%.

Over that same time, ASX lithium share Pilbara Minerals Ltd (ASX: PLS) has gained 141.9%; the Mineral Resources Limited (ASX: MIN) share price has leapt 41%; Allkem Ltd (ASX: AKE) shares have gained 113.3%; IGO Ltd (ASX: IGO) is up 67.1%; and the Liontown Resources Limited (ASX: LTR) share price has rocketed 153.6%.

With those kinds of gains behind them, can ASX lithium shares continue to deliver?

Absolutely, according to Saxo Markets strategist Jessica Amir.

ASX lithium shares lift off on Labor victory

With Labor sweeping into power last week, numerous analysts are tipping lithium explorers and producers can continue their outperformance in 2022.

That’s in part based on Labor’s greater focus on emissions reductions, with Prime Minister Anthony Albanese saying Australia has the potential to be a “renewable energy superpower”.

“Already, just since the government was sworn in this week,” Amir said, ASX lithium shares “have been some of the best performers on the local market. And there’s absolutely more room to run.”

According to Amir (quoted by The Australian):

We expect the lithium price to hit new highs this year. And that’s not only because of the momentum for increasing demand, but there’s now a punitive lack of supply. And on top of this, we’re getting this government support.

Massive growth in EVs forecast

For some insight into the booming demand for lithium helping propel ASX lithium shares higher, Barrenjoey said, “Electric Vehicles are set to transform the lithium and nickel commodity markets. We forecast global EV sales growing to 30 million in 2030 or around 30 per cent of new car sales.”

The future, of course, is unknown.

Should an alternative environmentally friendly power source become economically viable, like hydrogen perhaps, lithium demand could fall sharply.

But for now, it appears ASX lithium shares have plenty of runway to keep charging ahead.

The post Why ASX lithium shares have ‘absolutely more room to run’ in 2022: expert appeared first on The Motley Fool Australia.

More reading

• What’s the outlook for the Pilbara Minerals share price in June?
• Here are the 3 most traded ASX 200 shares on Monday
• 2 ASX All Ordinaries shares rocking new 52-week highs today
• Liontown Resources share price leaps 4% amid Tesla offtake extension
• 3 ASX lithium shares set to roar back: experts

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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Despite the rollercoaster ride in 2022, the Tesla Inc (NASDAQ: TSLA) share price has rocketed throughout the past five years.

In fact, the American automotive and clean energy company’s shares have soared tenfold in value, representing strong long-term growth.

During November 2021, Tesla shares reached an all-time high of US$1,243.49 before travelling lower soon afterwards. While the company’s shares have slightly recovered, they are still some way off moving again into uncharted territory for now.

Nonetheless, let’s wind the clock back and see how much you would have made if you’d invested $5,000 in Tesla shares five years ago.

How much would your initial investment be worth now?

If you’d spent $5,000 on Tesla shares five years ago, you would have bought them for US$67.97 (A$91.13) each. That’s using the exchange rate of US$1:$A0.7458 back on 31 May 2017.

Thus, this long-term investment would have given you approximately 54 shares without topping up along the way during retracement periods.

Looking at yesterday’s market close, the Tesla share price finished at US$759.63.

This means that those 54 shares would be worth a staggering US$41,020.02 right now, or A$57,114.14 using today’s exchange rate.

In percentage terms, the initial investment implies a return of about 1,017%, or an average return of 52.34% per year.

If you are wondering about Tesla’s dividends, the company has yet to pay a percentage of its profits to date. Previously, the board decided to invest in its business and keep the balance sheet healthy.

However, Tesla will seek approval from shareholders for a stock dividend at its annual shareholders meeting later this year.

If given the go ahead, the company will be able to issue additional stock after a final approval by its board of directors.

Stock dividends, unlike cash dividends, dilute the value of each share. In layman’s terms, it’s more like a miniature stock split than a conventional cash dividend that is paid to shareholders.

Tesla share price snapshot

Over the past 12 months, the Tesla share price has gained 21% but is down almost 37% year to date.

Tesla has a price-to-earnings (P/E) ratio of 102.65 and commands a market capitalisation of a massive $787 billion.

The post If you’d bought $5,000 of Tesla shares 5 years ago, woohoo! Here’s how much you’d have now appeared first on The Motley Fool Australia.

More reading

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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 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 Rio Tinto Limited (ASX: RIO) share price has been a positive performer in recent weeks.

Since this time three weeks ago, the mining giant’s shares have stormed 11% higher.

This means the Rio Tinto share price is now up 22% over the last six months.

Can the Rio Tinto share price keep rising?

The good news is that one leading broker believes there’s still room for the Rio Tinto share price to keep rising.

According to a note out of Goldman Sachs, its analysts have a buy rating and $135.10 price target on miner’s shares.

Based on the current Rio Tinto share price of $114.49, this implies potential upside of 18% for investors over the next 12 months.

In addition, Goldman is forecasting big dividends from the company over the next two years. It expects fully franked dividend yields greater than 10% in FY 2022 and FY 2023.

What did the broker say?

While Goldman acknowledges that there are a few risks to consider, overall it appears to believe the risk/reward on offer is compelling. It commented:

Despite ongoing operational issues and concerns over future growth (Pilbara heritage and replacement mines, Simandou, Oyu Tolgoi, Resolution) and uncertainty over decarbonisation capex, we rate RIO a Buy.

This is based on its attractive valuation, strong free cash flow, the strong iron ore outlook, production growth potential, and its compelling low emission aluminium exposure.

Goldman commented:

Rio is a FCF story in our view, however, and we see the company returning to growth in 2022 & 2023 with a c.3% and 5% increase in Cu Eq production driven mostly by iron ore copper.

In addition to copper production growth, Rio has one of the highest margin, lowest carbon emission aluminium businesses in the world, with over 2.2Mt of Ali production powered by hydro, and we think ELYSIS inert anode technology could be worth billions of $. Aluminium will contribute 20% of RIO’s group EBITDA and generate US$3bn of FCF in 2022 on our estimates.

The post The Rio Tinto share price has leapt 11% in 3 weeks. Is there more to come? appeared first on The Motley Fool Australia.

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• 3 ASX shares I’m telling my clients to buy: advisor
• Why is the Rio Tinto share price having such a strong end to the week?
• What’s the outlook for ASX 200 dividend shares in the second half of 2022?
• Are ASX 200 mining shares good options for dividends?
• Can Rio Tinto shares deliver 20% growth AND a juicy dividend yield in the coming year?

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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The S&P/ASX 200 Materials Index (ASX: XMJ) is down 0.11% at the time of writing, but three shares are outperforming the index on Tuesday.

The Kalium Lakes Ltd (ASX: KLL), Belararox Ltd (ASX: BRX) and Arafura Resources Ltd (ASX: ARU) shares are all steaming ahead.

Lets take a look at why these three ASX mining shares are attracting investor interest today.

Kalium Lakes Ltd (ASX: KLL)

The Kalium Lakes share price is surging 19.32% to 10.5 cents apiece at the time of writing. It’s settled after jumping 25% to 11 cents earlier today. Kalium is developing the Beyondie Sulphate of Potash (SOP) Project in Western Australia. In today’s news, the company advised it has validated the process chemistry and plant design for the production of about 400 tonnes of commercially saleable SOP. The company now targets commercial production in July 2022. Commenting on the news, CEO Len Jubber said:

Kalium Lakes is the first SOP producer in Australia, and we look forward to selling our first commercial production into the current extremely strong SOP price environment.

Belararox Ltd (ASX: BRX)

Belarox shares are soaring nearly 22% today. Investors appear to be buying up the mineral explorer’s shares after it identified 34 new exploration targets outside the Belara and Native Bee resource areas. Belarox is exploring the Belara Project in the Lachlan Fold Belt of New South Wales. Of these targets, 11 had a combined strike of eight kilometres, eight times the known mineralisation. Belarox is searching for zinc, copper, gold, silver, nickel, and lead. The company is particularly focussed on clean energy metals, including those used in electric vehicles (EV). Commenting on the news today, managing director Arvind Misra said:

We are excited with the findings of the prospectivity modelling work and look forward to extending our knowledge with downhole EM surveys and additional targeted drilling in the highest prospective areas.

Arafura Resources Ltd (ASX: ARU)

The Arafura Resources share price is soaring 16.7% today despite no new news from the company. However, in a tweet yesterday, the rare earths explorer said it is continuing to introduce itself to “significant national and international investors”. The company highlighted it presented at three conferences last week. These included the UBS Australian Emerging Companies Conference, the ALTA Presenter Breakfast, and the Austmine CEO Leadership Luncheon. Arafura is developing the Nolans Project for Neodymium-Praseodymium (NdPR) oxide in the Northern Territory. In the presentation to Austmine, Arafura highlighted the project is the only “NdPR focussed project in Australia” planning to mine and process ore to oxide at the one site. On 19 May, Arafura signed a non binding memorandum of understanding with Hyundai for the supply of NdPR oxide from the Nolans project.

The post 3 ASX mining shares going gangbusters on Tuesday appeared first on The Motley Fool Australia.

More reading

• Here’s why the Kalium Lakes share price is rocketing 25% higher today
• 2 ASX All Ordinaries shares having a cracking day, despite the carnage
• Why Aristocrat, Arafura, Calix, and Strike Energy shares are charging higher
• Arafura share price surges 18% on Hyundai deal
• Battery-powered! 3 ASX mining shares up more than 50% in 2022

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 Tabcorp Holdings Limited (ASX: TAH) share price is struggling as the company gets ready to undergo key leadership changes.

The gambling entertainment group split in two last week. Its lotteries and Keno business was spun out into The Lottery Corporation Ltd (ASX: TLC). The company today reminded the market that some of its management team will embark on previously foreshadowed changes this afternoon.

At the time of writing, the Tabcorp share price is 95 cents, 1.55% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is down 0.6%. Meanwhile, the company’s home sector – the S&P/ASX 200 consumer Discretionary Index (ASX: XDJ) – is falling 0.53%.

Let’s take a closer look at the latest news from Tabcorp.

What’s weighing Tabcorp down on Tuesday?

The Tabcorp share price is sliding lower after the company gets ready to wave goodbye to its chair, CEO, managing director, two board members, and two senior managers this afternoon. They will each move to run the newly demerged Lottery Corporation.

The changes will see the Lottery Corporation headed up by Tabcorp chair Steven Gregg. Bruce Akhurst will be taking the reins at Tabcorp as of tomorrow.

Tabcorp CEO and managing director David Attenborough will also hang up his hat at the company and move to the same role at the Lottery Corporation. Adam Rytenskild will fill Attenborough’s boots.

Tabcorp board members Harry Boon and Anne Brennan will also shift to seats on that of the Lottery Corporation.

Meanwhile, Brett Chenoweth, Raelene Murphy, and Karen Stocks will act as observers to the Tabcorp board until they’re given approval to take up their assigned board seats.

Finally, Tabcorp chief financial officer Adam Newman and chief legal and risk officer and co-company secretary Patrick McGlinchey will move to new roles at the Lottery Corporation.

Newman’s previous role will be filled by Daniel Renshaw while Chris Murphy will remain as Tabcorp’s the company secretary.

Tabcorp share price snapshot

The Tabcorp share price appeared to plummet following the company’s split last week. However, its fall simply reflected the spin-off of much of its business.

Right now, the company’s shares are trading for 81% less than they were at the start of 2022. Meanwhile, stock in the Lottery Corporation has lifted 2% since the company listed.

The post What’s dragging on the Tabcorp share price today? appeared first on The Motley Fool Australia.

More reading

• Here are the 3 most traded ASX 200 shares on Monday
• These were the worst performing ASX 200 shares last week
• Here are the top 10 ASX shares today
• Here are the 3 most traded ASX 200 shares on Friday
• Here are the 3 most traded ASX 200 shares on Thursday

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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