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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.

On April 27, The Central African Republic’s parliament voted unanimously to make Bitcoin (CRYPTO: BTC) legal tender. Unless you are familiar with your geography or keep up with politics in central Africa, this might be your first time even knowing such a country exists. The Central African Republic is now the second country to do so in the last year. El Salvador was the first country to recognize Bitcoin as legal tender in June 2021. 

Reasoning behind the law

Understanding the Central African Republic’s history helps clear the air on potential motives for this decision. The country is a former colony of France. Many of these former colonies still rely on the governments and financial institutions that once ruled them. 

The Central African Republic uses the CFA franc. This currency is used by six other countries within the region and pegged to the euro. To maintain this peg, the Bank of Central African States (BEAC) who oversees these six countries’ banking and financial policies is required to keep at least 50% of its foreign assets in the French treasury. 

Some believe this has limited economic development in the country. An embrace of Bitcoin will sever dependence on the euro and their former French colonial power. 

Bitcoin offers a way out

Countries that use currencies tied to Western economies have little to no say in economic policy. This is one of the main reasons why El Salvador made a similar move. Policies enacted in the U.S. or France eventually trickle down and negatively impact these countries’ economies. 

International economic policy tends to be decided by countries with the wealthiest economies. Naturally, these policies favor their own domestic interests. Smaller economies are left on the periphery and forced to deal with the hand they are dealt. 

Now there is a way out. Bitcoin levels the playing field. Because Bitcoin cannot be manipulated or controlled by a governing authority, smaller economies can make their own policies without needing consent from other world powers. Governments will no longer be able to control the money supply. Countries that once got the short end of the economic stick can now control their own financial destiny.

Invest in history

Only time will tell how these countries fare. Yet as investors, we should see the bigger picture. The year is 2022. The second country just adopted Bitcoin. Other countries in similar situations like El Salvador and the Central African Republic will notice that Bitcoin is an exit from the status quo.

Critics of Bitcoin will argue only small countries are the ones using the cryptocurrency. And for now they are right. But to even utter those words shows how far Bitcoin has come. The day when a developed economy in Asia, the Middle East, or the West enacts similar Bitcoin laws like El Salvador and the Central African Republic will be the day when Bitcoin undoubtedly cements itself. 

Investors should know that this day is coming sooner than later. You don’t have to look far to find examples of this progress. In Colorado citizens can pay taxes in Bitcoin. In Arizona, legislation was introduced to make Bitcoin legal tender.  Take the opportunity now to gain exposure to Bitcoin. Ignore the short term price fluctuations. 

A quote from a personal favorite book, The Alchemist, seems fitting. “Everything that happens once can never happen again. But everything that happens twice will surely happen a third time.” 

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

The post Another country adopts Bitcoin as legal tender. What does this mean for investors? appeared first on The Motley Fool Australia.

More reading

• ‘Stupid and evil’. Warren Buffett and Charlie Munger unload on Bitcoin
• Why Bitcoin, Ethereum, and Coinbase Jumped Today
• The top 2 cryptos of April unmasked
• What happened with the Bitcoin price in April?
• Why Shiba Inu, Ethereum, and Dogecoin are sinking today

Fool contributor RJ Fulton owns Bitcoin. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin. The Motley Fool Australia owns 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. 

 

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

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The Air New Zealand Limited (ASX: AIZ) share price is heading south after coming out of a trading halt on Thursday.

This comes after the company provided an update regarding its shortfall bookbuild.

At the time of writing, the airline operator’s shares are exchanging hands at 74 cents, down 6.33%.

Air New Zealand completes shortfall bookbuild

In a statement, Air New Zealand advised it has completed the shortfall bookbuild component of its rights offer.

The two for one pro-rata renounceable rights offer is for shareholders who didn’t take up shares in the company’s recent capital raise.

Air New Zealand said the shortfall bookbuild was well supported by existing shareholders and new investors. It comprised approximately 274 million shares.

The price of NZ$0.81 per share is a NZ$0.28 premium above the offer price of NZ$0.53 per share.

Eligible shareholders who elected not to take up their entitlements, as well as ineligible shareholders, will receive NZ$0.28 for each share sold. Payment is expected to be made by Monday 16 May.

This concludes the company’s NZ$1.2 billion equity raise, which is comprised of the rights offer and the shortfall bookbuild. Air New Zealand will use the proceeds to repay its existing crown loan, strengthen its balance sheet, improve liquidity, and help position the business for recovery.

Air New Zealand chair Dame Therese Walsh commented:

The Rights Offer was structured to provide all eligible Air New Zealand shareholders with a fair opportunity to participate in the equity raise or receive value for their rights.

We are delighted with the level of support shown for Air New Zealand by existing and new shareholders and to have been able to return value to those shareholders who did not or were ineligible to participate.

Air New Zealand share price summary

Since this time last year, Air New Zealand shares have lost 26% in value. The majority of these losses — 19.5% — have come in 2022. The share price reached a 52-week low of 72.5 cents last month before moving in a sideways channel.

Air New Zealand commands a market capitalisation of $887 million. It has approximately 1.12 billion shares on issue.

The post Here’s why the Air New Zealand share price is diving 6% today appeared first on The Motley Fool Australia.

More reading

• Why is the Air New Zealand share price grounded on Wednesday?

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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Well, this week was a fairly momentous one. It saw our own central bank, the Reserve Bank of Australia (RBA), lift interest rates for the first time in 11 years. This has understandably caused some navel gazing for many ASX investors, who may have gotten used to the successive interest rate cuts the last decade has brought. Not to mention the record low cash rate of 0.1% that was in place for more than two years. Now the RBA has hiked rates from 0.1% to 0.35%.

But if what the RBA had to say on Tuesday proves prescient, it may not be the last interest rate rise we see in 2022. In fact, we are almost certainly going to see another hike soon, seeing as the RBA governor said, “the Board is committed to doing what is necessary to ensure that inflation in Australia returns to target over time. This will require a further lift in interest rates over the period ahead”.

Previously, the RBA has said that it sees interest rates at the “neutral” level of 2.5% in the future. So if that came to pass, could dividend shares still offer attractive yields?

If interest rates were to move to 2.5%, you could expect many ‘safe’ investments like savings accounts and term deposits to offer similar, if not slightly higher, rates of interest. That would be a big change from the present lay of the land, where it is still difficult to find a savings account with an interest rate above 1%.

So if rates did rise to 2.5%, would it still be worth chasing yield from ASX dividend shares?

3 ASX dividend shares that beat the piggybank

Well, here are three such shares that would still be the piggybank if rates did climb to 2.5%.

Coles Group Ltd (ASX: COL) is one such share. Coles has been ratcheting up its annual dividend for a few years now. 2019 saw this grocery giant fork out 35.5 cents per share in dividends. But last year had the company dole out 61 cents per share, fully franked of course. On current pricing, this gives Coles a trailing dividend yield of 3.31%. With the full franking, that grosses-up to 4.73%.

WAM Research Ltd (ASX: WAX) is another share that has a good chance of being a piggybank-beater in the years ahead. This Listed Investment Company (LIC) has been increasing its annual dividend for more than 10 years now. Last year saw WAM Research pay out 9.9 cents per share, a pleasing rise from 2011’s 6 cents per share. On current pricing, that gives this LIC a dividend yield of 6.12%, or 8.74% grossed-up with the company’s full franking.

Finally, there’s Telstra Corporation Ltd (ASX: TLS) to consider as well. Telstra has had a reputation as a strong dividend payer for years. The telco has kept its 16 cents per share annual dividend payment steady for a while now. Even so, this gives Telstra shares a yield of 4% as it currently stands. Telstra also typically does out full franking credits with its dividends, so that payment grosses-up to a current yield of 5.71%.

The post Could these 3 ASX dividend shares still beat the piggybank if rates hit 2.5%? appeared first on The Motley Fool Australia.

More reading

• Here’s how the Woolworths share price stacked up in April
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• What’s the outlook for the Telstra share price in May?
• Analysts name 2 blue chip ASX 200 dividend shares to buy
• 5 things to watch on the ASX 200 on Wednesday

Motley Fool contributor Sebastian Bowen has positions in Telstra Corporation Limited and WAM Research 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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The AMP Ltd (ASX: AMP) share price has recovered from an early sell-off after the company posted its update for the quarter ended March.

Within the update, it was revealed Woolworths Group Ltd (ASX: WOW) had ended its contract with AMP for corporate superannuation services.

The move is likely to drain another $4 billion from AMP’s funds under management sometime in the first half of 2023.

AMP shares withstanding the bad news

It comes on top of the outflows of $1.3 billion in the first quarter of 2022 from its Australian Wealth Management (AWM) division.

This caused AWM’s assets under management (AUM) to drop to $136.5 million in the quarter from $142.3 million in Q1 2021. The decline isn’t just caused by the outflows but by investment losses too.

Loss of clients was also an issue for the AMP Capital division. Its normalised AUM dipped 0.6% to $52.5 billion in the quarter compared to the previous quarter.

This was largely due to client redemptions from China Life AMP Asset Management money market funds.

Dip buyers supporting the AMP share price

The news initially sent the AMP share price lower, but investors have taken a glass-half-full view. The shares are currently trading 1.85% higher at $1.212 compared with a 0.63% advance by the S&P/ASX 200 Index (ASX: XJO).

Management reassured investors that the loss of the Woolworths contract would not have a material impact on group profitability.

While the cash outflow from AWM in the latest quarter isn’t great news, it’s an improvement from the $2 billion in outflows the embattled group reported in the same period last year.

AMP winning mortgage market share

What’s more, AMP Bank managed to grow its mortgage business by twice the pace of the industry. Its total loan book increased by $500 million to $22.6 billion in the first three months of the year despite intense competition.

Its super and investment platform business, North, is also growing. Inflows from external financial advisers increased by 53% to $342 million during the period compared to Q1 2021.

What did management say?

Commenting on the update which appears to be fuelling the AMP share price today, chief executive Alexis George said:

We’re seeing positive signs of growth and momentum and have set a clear path to accelerate the transformation of AMP Limited with the announcement of the sale of Collimate Capital’s real estate and infrastructure equity businesses, enabling an increased focus on the growth of our retail banking and wealth businesses.

With the transactions we announced last week, we have set AMP up for a strong and sustainable future, with a clear strategy to grow AMP Bank and our wealth management businesses in Australia and New Zealand.

AMP recently announced the sale of some of its businesses. The group could reap up to circa $2 billion in cash from the divestments, which may be used to fund capital returns.

The AMP share price is up 24% over the past month and 21% this year to date.

The post AMP share price rebounds as Woolworths ends $4b superannuation contract appeared first on The Motley Fool Australia.

More reading

• How is the AMP share price looking in May?
• What rising interest rates can do to ASX shares
• The AMP share price soared 21% in April. Here’s why
• These were the best performing ASX 200 shares in April
• These were the best performing ASX 200 shares last week

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

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The AGL Energy Limited (ASX: AGL) share price had a roaring month in April despite a major fault at the company’s Loy Yang A power station.

Fortunately, there was plenty of good news to balance out the bad from the energy producer and retailer.

The AGL share price ended last month trading at $8.68, 12.44% higher than it was at the final close of March.

For comparison, the S&P/ASX 200 Index (ASX: XJO) slipped 0.86% over the course of April.

Let’s take a closer look at what boosted sentiment for the previously embattled ASX 200 share last month.

Why did the AGL share price outperform in April?

The AGL share price outperformed the ASX 200 by nearly 12% last month despite only releasing unfortunate news to the market.

The company’s major coal-fired power station, Loy Yang A, experienced an electrical fault resulting in one of its units being shut down. The company warned the outage could continue until August.

Some brokers predict the incident could bring a $70 million dint to AGL’s earnings and force the company to buy energy from the pool — a costly exercise in 2022.

The AGL share price tumbled 3% on the back of the news.

Luckily, there was plenty of good, non-price-sensitive news to bolster sentiment in the company in April.

It announced it was shutting down one of four units at its Liddell coal-fired power station early last month. It’s the first step towards closing the station completely next year.

Additionally, it shook on a deal that will see it operating a grid-scale battery in the ACT. It also entered another that will see coal ash from its Bayswater power station transformed into bricks.

Finally, AGL announced last week it will be acquiring biogas plant provider Energy360.

The energy giant believes the acquisition will help it provide high-emissions businesses with sustainable energy solutions.

Of course, May so far has been rocky for AGL and its share price. On top of that, the market’s expecting to hear more news from the company in coming weeks.

It’s set to provide additional details on its upcoming demerger – despite increasing pressure on shareholders to vote against the plan – in mid-May.

Today, AGL boss Graeme Hunt hit back at tech billionaire Mike Cannon-Brookes’ criticism of the demerger, labelling some of the claims being made against the plan as “false”.

The post Here’s why the AGL share price was cooking with gas in April appeared first on The Motley Fool Australia.

More reading

• Own AGL shares? Boss says Cannon-Brookes made ‘false claims’
• When, why, how? All the details on the AGL demerger and what might happen if it flops
• Own AGL shares? Boss slams Cannon-Brookes’ plan as ‘transition into a nosedive’
• AGL share price dips despite $2 billion energy transition deal
• Why AGL, Booktopia, Cleanaway, and Corporate Travel Management shares are dropping

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

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The Appen Ltd (ASX: APX) share price rollercoaster continues on Thursday with the stock recovering its losses for the week so far.

There’s been no news from the provider of data for artificial intelligence to explain today’s surge. However, it’s also a good day for many of its ASX technology peers.

At the time of writing, the Appen share price is $6.73, up 4.83% on its previous close.

For context, the S&P/ASX All Ordinaries Index (ASX: XAO) is also in the green, having gained 0.7%.

Let’s take a look at what might be going on with ASX tech shares on Thursday.

Appen share price up alongside ASX tech share peers

The S&P/ASX All Technology Index (ASX: XTX) is up 1.53% at the time of writing. Some of the big-name ASX tech shares doing well today include Megaport Ltd (ASX: MP1), up 3.33%, and WiseTech Global Ltd (ASX: WTC), up 4.1%.

Among the smaller ASX tech shares soaring today is Whispir Ltd (ASX: WSP), up 7.02%, and Dubber Corp Ltd (ASX: DUB), up 7.31%. Nuix Ltd (ASX: NXL) is also up 6.96%.

The market hasn’t heard any price-sensitive news from Appen since early March but its share price has been displaying volatility lately. It fell 4.5% on Monday and gained it back on Tuesday. It slumped another 3.4% yesterday before lifting back into the green today.

Though, Appen’s good days this week are nowhere near enough to outweigh its bad year. The Appen share price is 39% lower than it was at the start of 2022. It has also tumbled 54% since this time last year.

Appen has a market capitalisation of $792 million and has 123.4 million shares outstanding.

The post The Appen share price is soaring 5% on Thursday. Could this be why? appeared first on The Motley Fool Australia.

More reading

• What would happen if Appen shares were removed from the ASX 200? 
• 3 stellar ASX growth shares analysts are tipping as buys this month
• These were the worst performing ASX 200 shares in April
• Leading brokers name 3 ASX shares to buy today
• Why are ASX tech shares having such a dire run on Monday?

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 Appen Ltd, Dubber Corporation, MEGAPORT FPO, Whispir Ltd, and WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Nuix Pty Ltd. The Motley Fool Australia has positions in and has recommended Dubber Corporation and WiseTech Global. The Motley Fool Australia has recommended MEGAPORT FPO and Whispir 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 S&P/ASX 200 Index (ASX: XJO) ended up having a pretty wild month over April. Over the month just gone, the ASX 200 got fairly close to breaking its all-time high before retreating towards the end of the month. In the end, the index gave investors a loss of 0.86% over the month just gone. But let’s see how the Woolworths Group Ltd (ASX: WOW) share price went.

As the largest consumer staples share on the ASX 200, many investors have an expectation of ‘safety’ for Woolworths shares. So it will be interesting to see how this grocery giant lived up to this reputation.

So Woolies started April at a share price of $37.26. By the end of the month, the Woolworths share price had grown to $38.51. That’s a gain of 3.35%, a very healthy outperformance of the broader market. And that’s not including the interim dividend investors received last month either. Woolies paid out its dividend of 39 cents per share, fully franked, on 13 April. This would have added another couple of percentage points to shareholders’ April returns too.

All in all, a relatively pleasing month for the Woolworths share price, you’d have to conclude.

Is the Woolworths share price a buy or a sell in May?

So now that April is under the old belt, and we’re now in May, many investors might be wondering if the Woolworths share price is a buy today.

Well, let’s see what one ASX broker reckons.

As my Fool colleague James covered just yesterday, broker Goldman Sachs is currently bullish on Woolies shares. This ASX broke currently rates Woolworths as a buy, with a 12-month share price target of $41.70. That would imply a further upside of almost 10% on current pricing over the next year.

Goldman was impressed with Woolworths’ latest quarterly update, which saw the company report year-on-year sales growth of 9.7%. The broker also noted that Woolies “gained market share both from value and volume perspective during the quarter”. Goldman is also anticipating that Woolworths will lift its dividends in FY2023 as well to $1.18 per share.

So more good news to come for Woolies if Goldman Sachs is to be believed.

At the current Woolworths share price, this ASX 200 blue-chip has a market capitalisation of $46.14 billion, with a dividend yield of 2.47%

The post Here’s how the Woolworths share price stacked up in April appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: NAB disappoints, Qantas announces acquisition
• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX shares today
• How is the AMP share price looking in May?
• Wesfarmers share price slips as Bunnings competition heats up

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 Liontown Resources Limited (ASX: LTR) share price is leaping higher today, up 5.9%.

Liontown shares closed yesterday trading for $1.36 and are currently worth $1.44.

So, why are investors bidding up the price of the ASX lithium producer?

Lithium shares in the spotlight

It’s not just the Liontown share price that’s outperforming today.

Many of the other top ASX lithium shares are charging higher too. Core Lithium Ltd (ASX: CXO) shares, for example, are up 6.7% at the time of writing while the Pilbara Minerals Ltd (ASX: PLS) share price is up 5%.

With no fresh price-sensitive news out of the company, it looks like investors are broadly keen on the lithium space.

And as a producer, Liontown is able to take advantage of the soaring spot prices for lithium. Those prices have surged some 500% over the past 12 months as demand for the lightweight, conductive metal used to power EV batteries has outpaced new supply.

Liontown was said to be among the ASX lithium companies in “a very strong position” by David Franklyn, portfolio manager of the Argonaut Natural Resources Fund.

According to Franklyn (courtesy of the Australian Financial Review)

We look out for large companies that are in tier-one locations, have a large resource base, are in production and also have the ability to further grow production. The guys who maximise the benefit of those higher prices are the ones that are in production today and don’t have everything locked away in long-term contracts because you need to be able to sell near spot [prices].

Liontown Resources counts among the Argonaut Natural Resources Fund’s top-3 ASX lithium share holdings.

Liontown share price snapshot

The Liontown share price is up an impressive 251% over the past 12 months, far outpacing the 4% gains posted by the All Ordinaries Index (ASX: XAO) in that same period.

The ASX lithium share hit all-time closing highs of $2.12 on 4 April.

The post Up 250% in a year, the Liontown share price surges 6% higher again today appeared first on The Motley Fool Australia.

More reading

• Top brokers explain why not all ASX lithium shares are created equal
• Liontown Resources share price tumbles despite lithium update
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why is it such a mixed day of trade for ASX lithium stocks?
• What are the 10 biggest ASX shares in the lithium space

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 Webjet Limited (ASX: WEB) share price is an investment to consider as travel demand returns to the market.

It has been a difficult period for Webjet since the onset of the COVID-19 pandemic. The Webjet share price is still down around 40% compared to the pre-COVID crash, though there are a significant amount of more shares on issue now after the capital raising.

Travel demand returns

Webjet is due to hand in its FY22 result on 19 May 2022. However, investors may have gotten an insight into travel demand from a recent update from Qantas Airways Limited (ASX: QAN).

The airline said that domestic travel has returned to pre-COVID levels ahead of expectations. Qantas also said that there is “strong demand” for international travel, though some key markets are yet to open.

Qantas said that leisure demand is “very strong”. Qantas and Jetstar both were operating at approximately 110% of pre-COVID capacity over the Easter school holidays. It also said that the rebound in travel for business purposes was “above expectations”. Small business travel was above pre-COVID levels and corporate travel was 85% of pre-COVID travel.

The airline also noted that the removal of Australia’s pre-flight testing requirement and early opening of New Zealand’s borders provided tailwinds during April.

Does this make the Webjet share price a buy?

Webjet and Qantas are not the same business. Demand for one business may not equally translate into the same demand growth for the other business, Webjet may be seeing less (or more) demand than Qantas over the same period.

However, Webjet investors may think that it’s useful to know about the conditions that Qantas is seeing.

One of the most recent broker ratings on Webjet came from Citi. It currently rates Webjet as a buy, with a price target of $6.50. The operating leverage that Webjet has with its business model will help profitability as volume returns.

The broker is expecting that Webjet can grow its market share, particularly as more people purchase their travel through online means.

According to Citi, the Webjet share price is valued at 33 times FY23’s estimated earnings, implying profit will return in FY23.

Ord Minnett has one of the most positive price targets, with a target of $7.51. That’s a potential upside of almost 30%.

Webjet’s latest commentary

Half a year ago, Webjet said that its WebBeds business had been profitable since July 2021, while the Webjet online travel agency (OTA) business returned to profitability in October 2021.

Webjet said that it has expanded its geographic presence in the “key” North American market, added significant domestic inventory globally, and signed a range of new domestic and OTA customers, “resulting in a materially larger opportunity for growth than was targeted pre-COVID.”

Webjet also said that it sees an opportunity to increase market share in the OTA business as consumers continue to shift to buying online and believes the innovations offered by ‘Trip Ninja’ technology will play a key role in growing its share of the international flights market.

Webjet said that WebBeds is on track to be 20% more cost-efficient at scale.

Webjet share price snapshot

Since the start of 2022, the Webjet share price has climbed almost 10%.

The post Is the Webjet share price now a buy amid ‘strong’ travel demand? appeared first on The Motley Fool Australia.

More reading

• Why did the Webjet share price have such a good run in April?
• Why is the Webjet share price beating the ASX 200 today?
• These are the 10 most shorted ASX shares
• Why is the Webjet share price flying higher on Friday?
• Why are ASX 200 travel shares having a first-class end to the week?

JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Tristan Harrison 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 Webjet 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 Cobalt Blue Holdings Ltd (ASX: COB) share price has taken a hit these past few weeks.

After a strong start to 2022 – shares are up 60% this year to date – the Cobalt Blue share price swept 10% into the red during April.

In the first part of this week, the shares fell another 12% between Friday’s close and Wednesday’s close. However, they have rebounded today and are currently up 6.67% at 80 cents.

What’s been happening at Cobalt Blue?

April was a fairly quiet month for the miner. Early on, investors bid up its share price amid an update to its Broken Hill Cobalt Project (BHCP), released the month earlier.

By that time, Cobalt Blue had surged 79% in the month to April 5, propelled by a substantial lunge in the price of cobalt.

These pricing strengths have extended into today’s market, holding the line at over $80,000 per tonne.

“Cobalt futures were hovering above the $80,000 per tonne level in May, their highest since June 2018 and up 16% this year and around amid continued strong demand from the electric vehicle sector,” Trading Economics reports.

On the supply side, cobalt production has been pushed to its limits as any nation producing electronics is a cobalt buyer. On top of that, mounting sanctions on Russia, which account for roughly 4% of the world’s cobalt production, for invading Ukraine intensified concerns over the commodity’s supply.

Aside from that, the company was awarded a $15 million critical minerals accelerator initiative grant in late April, after a relatively quiet month.

“The Broken Hill Cobalt Project has received a significant boost by being awarded $15 million via the Australian Government’s Critical Minerals Accelerator Initiative,” chairman Rob Baincardi said.

“We applaud the Australian Government’s support in assisting mid-stage critical minerals projects overcome the substantial technical, regulatory and financial barriers for the establishment of greenfield projects such as the BHCP.”

That announcement came a day after the company’s quarterly activities and cash flow report.

Cobalt Blue share price snapshot

The Cobalt Blue share price has soared 128% higher in the last 12 months of trade, although has struggled in more recent times.

Over the past month, shares have slipped 20%, coming off a three-month high of $1.03 on 4 April.

The post Why did the Cobalt Blue share price come off the boil in April? appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: NAB disappoints, Qantas announces acquisition
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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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