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The Woodside Petroleum Limited (ASX: WPL) share price is slipping today.

Shares in the S&P/ASX 200 Index (ASX: XJO) energy giant are down 0.6% to $31.88.

The Woodside share price hit 2-year highs of $34.41 on 7 March, when Brent crude oil was trading at US$128 per barrel.

That same barrel of Brent, up 1.8% overnight, is currently fetching US$100.

Oil prices are being pulled higher by embargos on Russian energy exports while being pushed lower by fears China’s COVID-zero policy could see lockdowns like the one in Shanghai – a city of 26 million people – draw out and potentially spread, impacting global energy demand. (Details here.)

But today’s downgrade for Woodside isn’t directly related to current oil prices or short-term forecasts.

Instead, it’s tied in with an independent expert’s review of Woodside’s merger with BHP Petroleum.

Why UBS cut its price target

As The Australian reports, UBS reduced its target for the Woodside share price from $34.60 to $32.90, a 5% reduction, while maintaining a neutral rating on the stock.

That came after an independent expert valued the merged Woodside/BHP Petroleum entity at $26.25 to $29.81 per share. This came in 8% to 19% lower than UBS’ own estimates.

UBS’ new price target on Woodside shares is reportedly higher as the broker ascribes more value to the company’s Senegalese Sangomar oil project as well as its Jupiter and Thebe gas fields set to be developed in Western Australia.

Macquarie, which has a $29.50 target on the Woodside share price and maintains its neutral rating, also sounded off on the independent expert’s report.

Macquarie said the lower valuation was based on assumptions of lower production and higher costs.

According to Macquarie:

[The] expert’s report paints an unfavourable picture of several key Woodside assets pre-BHP Petroleum – reinforcing merits of the transaction. Valuations on key assets Scarborough, Senegal oil, and North West Shelf were all below ours.

Woodside share price snapshot

The Woodside share price has been a big beneficiary of rocketing energy costs.

Year-to-date, Woodside shares have gained 40.5% compared to a 2% loss posted by the ASX 200 so far in 2022.

The post Why did the Woodside share price just get hit with a 5% downgrade? appeared first on The Motley Fool Australia.

More reading

• These are the 2 best ASX dividend shares to buy right now: fund manager
• Why is the Macquarie share price underperforming today?
• What’s with the Woodside share price on Monday?
• Top ASX dividend shares to buy in April 2022
• How retirees can maximise returns from ASX dividend shares: fund manager

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 Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Unfortunately, the S&P/ASX 200 Index (ASX: XJO) has dipped into the red during this Tuesday’s trading session so far. At the time of writing, the ASX 200 is down by a deflating 0.61% at just under 7,440 points.  

But let’s not wallow in our grief. Instead, we’ll take a look at the shares that are sitting at the top of the ASX 200’s volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Tuesday

Pilbara Minerals Ltd (ASX: PLS)

Lithium stock Pilbara Minerals is our first ASX 200 share to check out today. So far this Tuesday, a hefty 20.17 million Pilbara shares have been traded on the share market. This has probably been sparked by the operational update the company put out this morning.

As the Fool covered earlier, this update showed the company had met production guidance at its Pilgangoora project over the March quarter. Despite this, investors have sent the Pilbara share price down a nasty 5.52% so far today at $2.91 a share. These events have likely elicited the high trading volumes we are seeing.

Paladin Energy Ltd (ASX: PDN)

ASX 200 uranium share Paladin is next up this Tuesday. So far today, a sizeable 20.65 million Paladin shares have changed hands as it currently stands. Unlike Pilbara, there has been no major news or announcements out of Paladin today.

However, the company is also suffering a significant share price fall so far today. Paladin shares are now trading at 83 cents each, down by 4.6%. This selloff is probably responsible for the high trading volumes currently on display.

AVZ Minerals Ltd (ASX :AVZ)

Yet another ASX 200 resources share in lithium hopeful AVZ rounds out our list today. So far, a whopping 29.39 million AVZ shares have changed owners during trading so far on Tuesday. There’s been no major news out from this company today either.

So again, we should probably assume that the elevated volumes we are seeing are the result of the performance of the AVZ share price itself. Right now, AVZ shares are down a notable 2.84% at $1.025 each.

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

More reading

• What’s dragging the Pilbara Minerals share price 5% lower today?
• How is AFIC different from an ASX 200 ETF?
• How did ASX uranium shares perform last quarter?
• ASX 200 midday update: Pendal rejects takeover offer, Mineral Resources rises on broker upgrade
• All that glitters isn’t gold: Here are the worst performing ASX mining shares of the quarter

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 Bruce Jackson.

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Tuesday is proving to be a rocky day for many ASX shares, with both the All Ordinaries Index (ASX: XAO) and the S&P/ASX 200 Index (ASX: XJO) in the red.

Right now, the All Ordinaries Index is down 0.66%, but these mining shares are bucking the trend to trade at their highest point in at least a year.

So, which All Ordinaries miners are outperforming the market on Tuesday? Let’s take a look.

3 ASX All Ordinaries mining shares hitting new highs

Capricorn Metals Ltd (ASX: CMM)

The Capricorn Metals share price has continued on its multi-day surge to reach $4.36 at its intraday high.

That’s a new all-time high for the All Ordinaries mining share and 170% higher than its 52-week low.

The last time the market heard news from Capricon Metals was on Friday. Then, the gold producer released encouraging early assay results from its Mt Gibson Project.

Additionally, the price of gold is moving higher, likely bolstering interest in ASX gold stocks.

According to data from CNBC, gold futures are currently up 0.7% to US$1962.30 an ounce.

Red 5 Limited (ASX: RED)

The Red 5 share price is also in the green on Tuesday, rising 4% to trade at 42 cents. That’s the highest the All Ordinaries mining share has traded at in nearly nine years.

While there’s been no price-sensitive news from the gold producer since February, the company announced the restart of underground mining at its King of the Hills project last week.

The project is still on budget and its production is on track to kick off this quarter.

Additionally, the rising price of gold has likely helped boost the stock today.

SSR Mining Inc (ASX: SSR)

The final ASX All Ordinaries mining share hitting new 52-week highs today is SSR Mining. It reached $30.90 in intraday trade – the highest it’s been since shortly after it listed in 2020.

There’s nothing obvious to explain the gold producer’s stocks gain today.

Though, it might also be being helped along by the rising price of gold.

The post 3 ASX All Ordinaries mining shares smashing 52-week highs today appeared first on The Motley Fool Australia.

More reading

• Here’s why the Capricorn Metals share price is shooting 7% higher today
• Top brokers name 3 ASX shares to buy next week

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 Bruce Jackson.

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The Origin Energy Ltd (ASX: ORG) share price is struggling to find its footing today. Shares in the Australian electricity and gas retailer are slipping into the red along with the utilities sector on Tuesday.

In afternoon trade, we can see that the utilities sector is one of the worst-performing, down 0.76%. However, there are other sectors worse off, including tech shares and energy.

Meanwhile, the Origin Energy share price is receiving more than its fair share of the sell-off. At the time of writing, shares are down 1% from their previous close.

Russian oligarch won’t land Origin in hot water

In a positive determination for Origin Energy, the energy retailer has not been found of any sanction breaches with Russia.

According to Reuters, the Australian Sanctions Office shared the verdict this morning after concerns were raised around Origin’s involvement with Russian Viktor Vekselberg. The billionaire was pinned up on Australia’s sanction board last month as Russia continues to press forward with its attack on Ukraine.

For context, the affiliation between Origin and Vekselberg comes about via a joint venture (JV), by the name of Falcon Oil and Gas, that the pair are involved in together. Last month the Australasian Centre for Corporate Responsibility (ACCR) called for the JV to be suspended.

However, today the ASO noted that Vekselberg is currently not making any financial benefit from the asset. This is as a result of no gas being produced, and therefore no revenue being realised.

In response to the decision, Origin Energy’s chief Andrew Thornton noted:

While no gas is currently being produced and no revenue is being generated, Origin will continue to exercise diligence in this matter, and seek further advice should joint venture structures change or should the project progress beyond exploration.

Where does the Origin share price go from here?

Having laid immediate concerns regarding Russian sanctions to rest, where might the Origin Energy share price be heading next? Well, recently analysts have been fairly split on estimates for the Australian energy giant.

Following a 20% run since the beginning of the year, some brokers are cautious that any near-term growth might already be priced in. This is a perspective shared by analysts at Bloomberg, holding a price target of $6.43 on the company.

Nonetheless, the Origin Energy share price has been a winner for shareholders over the past year. Over the past 12 months, Origin has returned 45% once dividends are taken into account.

The post Why is the Origin Energy share price having such a dire day? appeared first on The Motley Fool Australia.

More reading

• The Origin share price is now overvalued, consensus says yes. What do you think?
• High voltage! Origin (ASX:ORG) share price up 3% to new 52-week high
• These were the 5 best performing ASX hydrogen shares of the March quarter
• The Origin (ASX:ORG) share price has surged 15% since the start of March. Could this be why?
• Origin Energy (ASX:ORG) share price hits post-COVID high on Friday

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

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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.

It’s been a wild seven days in the whirlwind bromance between Tesla CEO Elon Musk and Twitter (NYSE: TWTR). What started as Musk buying a 9.2% stake in the social media bird and ultimately being named to its board of directors ended abruptly over the weekend. A post from Twitter CEO Parag Agrawal late on Sunday revealed Musk has decided not to join the company’s boardroom.

To be fair, it would’ve been a distraction at best. Musk is brilliant, but his unchained antics on the platform itself would’ve kept Twitter’s legal team and his fellow board members suffering through sleepless nights. Over this past weekend alone, Musk was tweeting about how lightly active the social media site’s most widely followed users are on Twitter. He also proposed a tongue-in-cheek name change for the company. Musk would’ve brought the circus to town, but it was going to need a bigger net to catch the falling trapeze artists. 

However, lost in his stream of saucy posts, there was a moment of lucidity. Musk offered up a vision of what Twitter Blue — the premium subscription service that was officially launched 10 months ago — could and probably should be. No one knows where this flirtation between Musk and Twitter will end. Even Musk doesn’t know. However, there’s no denying that Twitter Blue could be so much more than what it has become in its first year of open availability. 

Blue by you 

Twitter Blue doesn’t cost much. It’s just $2.99 a month. However, it doesn’t presently offer much either. Some of the premium subscription’s best features include the ability to upload longer videos as well as the ability to preview and undo a tweet if you quickly notice a mistake with a post before it goes live. 

It’s not all that there is to Twitter Blue. There’s access to ad-free articles and exclusive customization features. Twitter Blue also is perpetually improving, so the product in theory will keep getting better over time. However, it’s still not much of a needle mover in terms of generating revenue. If investors were hoping for Twitter Blue to be a haven of downside protection if the ad market comes undone they’re going to be in for a bout of heartbreak. 

In a series of tweets over the weekend that were subsequently scrubbed — deleted by Musk, one would assume — the provocative billionaire offered up what Twitter should be. He suggested it should make Twitter ad-free, not just provide access to third-party articles without ads. Musk also proposed that the subscription should eventually come with the blue verified user checkmark, or at least a slightly different version of the authentication badge. 

He’s not wrong, and since the verified user badge happens to be blue it probably came as a surprise to some when it launched in the springtime of last year that Twitter Blue didn’t come with that feature. The ability to fully edit a post, and not just one in preview mode before it goes live is also not much of a feature in a world where the delete function is readily available. Perhaps Musk was making a point by posting his Twitter Blue cookbook on Saturday, only to delete it on Monday.  

There is no perfect social media stock. There is room for improvement with every platform, and there will never be one hub that makes everybody happy. However, Musk was right to point out how Twitter Blue has a lot of room to grow in its second year. He was not going to be a good fit in the Twitter boardroom, but if Agrawal is serious about listening to what Musk has to say he may as well start by conceding that Twitter Blue is far from where it needs to be in order to be a substantial premium offering for its users. 

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

The post Elon Musk isn’t wrong about Twitter Blue appeared first on The Motley Fool Australia.

More reading

• Why Ethereum and Dogecoin are down today
• Is it too late to buy Twitter stock?
• Why are ASX tech shares having such a stellar day?
• Birds are singing as the Twitter share price soars 27% on Elon Musk’s investment

Rick Munarriz owns Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Tesla and Twitter. 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 Bruce Jackson. 

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

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The Metcash Limited (ASX: MTS) share price is outperforming the S&P/ASX 200 Index (ASX: XJO) today. In fact, the wholesale distribution company’s shares just hit a 12-year high.

At the time of writing, the Metcash share price is up 1.73% to $4.70 after earlier hitting an intraday high of $4.725. Meanwhile, the ASX 200 is in the red by 0.56%.

There are many ASX 200 shares losing ground today. For example, the Lake Resources N.L. (ASX: LKE) share price is down 7.8%, Novonix Ltd (ASX: NVX) shares are 7% lower, and the Paladin Energy Ltd (ASX: PDN) share price has fallen 6.3%.

But, while the above names are seeing the biggest declines, it’s the largest businesses that have the greatest influence on the performance of the ASX 200. The BHP Group Ltd (ASX: BHP) share price is down 0.57%, Commonwealth Bank of Australia (ASX: CBA) is down 0.43%, and CSL Limited (ASX: CSL) shares are trading 1.2% lower.

Metcash outperformance

Over the last six months, the Metcash share price has gone up by 17%.

The company is one of the largest wholesalers of food and liquor in Australia. It seems investors are weighing up what an environment of increasing inflation could mean for a business like Metcash.

The broker Macquarie likes Metcash in the space, rating it as a buy with a price target of $4.70. Credit Suisse also rates the business as a buy, with the same price target of $4.70. Credit Suisse believes that the ASX 200 share’s hardware division can generate enough growth for the overall business.

Credit Suisse’s numbers put the Metcash share price at 16x FY22’s estimated earnings.

The post This ASX 200 share is defying today’s sell-off to hit a 12-year high appeared first on The Motley Fool Australia.

More reading

• 2 quality ASX dividend shares that brokers love
• Brokers: Buy these 2 underrated ASX dividend shares

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. owns and has recommended CSL Ltd. 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 Bruce Jackson.

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The Block Inc (ASX: SQ2) share price is edging lower today amid the company releasing half-year results for Afterpay.

The company’s shares are currently swapping hands at $164.11, a 0.22% fall.

Let’s take a look at what Block reported today.

How did Afterpay fare?

Block reported the financial results of Afterpay for the six months ended 31 December 2021.

Highlights included:

• Net loss after tax of $345.5 million, up 336% from the $79.2 loss in the prior corresponding period (PCP)
• Total comprehensive loss, net of tax, of $298.99 million, up 133% on PCP
• Operating loss of $263.7 million, up 287% on PCP
• Total income of $644.9 million

Afterpay loss skyrockets

The Afterpay net loss after tax surged 336% on the PCP, in which the company reported a $79.2 million loss.

Underpinning this loss was a massive surge in operating expenses. Employment expenses surged 79% to nearly $112 million. Marketing expenses also skyrocketed nearly 99% to 137.6 million.

Other operating expenses soared nearly 287% from $63 to $212.3 million.

On a positive note, total income exploded nearly 55% from $417.2 in the PCP.

Block announced it would acquire Afterpay in August 2021 and listed on the ASX as Block on 1 February 2022. Block issued 113,387,895 shares of Block valued at $19.6 billion. Afterpay is no longer listed on the ASX.

The company also trades on the New York Stock Exchange (NYSE: SQ). Block shares dropped 0.11% in the United States overnight. In after-hours trade, the company’s shares fell 0.39%.

Block share price snapshot

The Block share price is falling 7% year to date, while it has surged 12% in the last month.

In contrast, the S&P/ASX 200 Index (ASX: XJO) has returned 0.01% this year to date.

Block has a market capitalisation of about $7.4 billion based on its current share price

The post Block share price in the red as Afterpay loss balloons 336% appeared first on The Motley Fool Australia.

More reading

• Why Block, IGO, Navigator Global, and Platinum shares are dropping
• Why are ASX 200 tech shares having such a dire day?
• ASX 200 midday update: Magellan jumps, tech shares tumble
• March was a lousy month for ASX BNPL shares. Here’s why
• Why Andromeda Metals, Block, Paladin Energy, and Zip shares are dropping

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Block, Inc. The Motley Fool Australia owns and has recommended Block, Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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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.

The rise of Bitcoin (CRYPTO: BTC) over the last decade has led high profile financial luminaries to expose their stance on the burgeoning asset. Cathie Wood, CEO of Ark Invest, is one of the most vocal supporters. Her investment firm catapulted into the spotlight in 2020 as a result of the success of the Ark Innovation ETF (NYSEMKT: ARKK). 

In one of the most bullish estimates around, the firm called for Bitcoin to reach $500,000 by 2026 just last September. Even better, she recently doubled down in January when she predicted that one Bitcoin would be worth $1,000,000 or more by 2030. 

What is she thinking?

For Bitcoin to reach a $1,000,000 price tag it would need to go up nearly 2,000% in a little under eight years. This doesn’t look too crazy when considering it is up about 3,500% since 2017. If Bitcoin is to reach these levels, much has to change and current trends must amplify. 

Cathie Wood and her firm arrived at these estimates after composing multiple research papers that took one of the most comprehensive, in depth evaluations on the current and future state of Bitcoin. This research highlights a multitude of macro and microeconomic factors that led Cathie and her team to the million dollar hypothesis.

At a recent interview in Miami at the Bitcoin Conference, Wood was questioned for the first time about her reasoning. A few of her key points stood out.

Bipartisan Bitcoin

Of most importance was Bitcoin’s new-found political support. She referenced Janet Yellen (Secretary of the Treasury) and Gary Gensler (Chairman of the SEC) in particular. Wood credited Gensler as the driving force behind the 180 degree turn of Yellen’s previous anti-crypto sentiment. She thinks Gensler will have more success persuading other politicians due to his background as an MIT cryptocurrency professor. 

She surmised that Bitcoin will become a hot topic for voters in upcoming elections. Wood claimed that it wouldn’t surprise her if political candidates ran entire campaigns on supporting Bitcoin and crypto in general. In her typical candid fashion, Wood laughed that when considering how wide the political divide has become recently, of all things, Bitcoin now has bipartisan support.

Widespread adoption

Another topic was the increased accessibility of Bitcoin in the United States. Wood directly referenced the innovation and integral role of Bitcoin’s Layer 2 scaling solution, the Lightning Network, for bringing more users to Bitcoin domestically. Payment apps like CashApp have utilized the Lightning Network to onboard millions of users to the Bitcoin network.

In general, Wood believes there is “an incredible number of use cases and Bitcoin is leading the charge.” Opportunities abound for Bitcoin to be used as a hedge against government manipulation of currencies in developing markets. She thinks that more high net worth individuals will use Bitcoin as an insurance policy against their wealth being confiscated by governments. And lastly, just like her firm, she said that institutional investors will continue purchasing Bitcoin slowly but surely. 

Trust the professionals

Ark Invest has done its due diligence, and just like Babe Ruth, Cathie Wood has called her shot. Their business model depends on them being right about these kinds of things. 

Let’s say Cathie Wood is only half right, or a quarter right. If Bitcoin were to rise to those prices it would still be one of the greatest appreciating assets of our generation. Short term price fluctuations for Bitcoin do not matter in the grand scheme of things. The year 2030 will be here before we know it and that fits perfectly into the age-old investment strategy of buy and hold. 

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

The post Bitcoin could be worth $1,000,000 in 2030 appeared first on The Motley Fool Australia.

More reading

• Here’s why the Bitcoin price is falling hard today
• Why Ethereum and Dogecoin are down today
• Fancy buying a Porsche with Bitcoin or Ethereum? Here’s how you can
• Why Bitcoin, Ethereum, and Dogecoin are singing the blues today
• Bitcoin price tumbles overnight. What can crypto investors expect next in 2022?

RJ Fulton owns Bitcoin. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns 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 Bruce Jackson.

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

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Boral Limited (ASX: BLD) shares are an ASX staple, but do they pay dividends?

Boral is, in fact, a dividend paying stock, but the company hasn’t provided investors with final or interim dividends for several years now.

Interestingly, however, Boral shareholders were handed a special payout earlier this year.

Let’s dive into what’s been going on with the building products and construction materials company’s dividends lately.

At the time of writing, the Boral share price is $3.45, 1% lower than its previous close.

For context, the S&P/ASX 200 Index(ASX: XJO) also slipped 0.52% on Tuesday.

Do Boral shares pay dividends?

Whether Boral is a dividend paying share might be up for debate in some circles these days.

The last time the stock’s investors were handed either an interim or final dividend was way back in 2020.

Then, Boral gave investors a 9.5 cent, 50% franked interim dividend. That was a 27% drop on the company’s previous interim dividend and its lowest payout since 2015.

However, following 2019’s bushfire and flood events and the onset of the COVID-19 pandemic, Boral dropped its dividend entirely as its earnings tanked.

Since then, Boral has been acquired by Seven Group Holdings Ltd (ASX: SVW) and has undergone several major asset sales.

Following those asset sales, the company decided to return $3 billion to shareholders in February.

Boral investors received $2.72 for each share they owned, with $2.65 coming in the form of an equal capital reduction and the other 7 cents taking the shape of a special dividend.

Though, the Australian Taxation Office made it clear no part of the capital return could be treated as a dividend for tax purposes.

Additionally, as Boral no longer held the value of the capital return, its share price tumbled ahead of its payout. The stock fell a whopping 41.8% on 4 February.

Following the payout, Boral declined to provide shareholders with an interim dividend when it announced its results for the first half of financial year 2022.

Whether it will provide a final dividend for the financial year is yet to be seen.

Though, as The Motley Fool Australia’s Sebastian Bowen recently reported, JPMorgan expects another dividend from the company this financial year.

The post Is Boral an ASX dividend share? appeared first on The Motley Fool Australia.

More reading

• Why did the Boral share price have such a lousy month in March?
• These were the worst performing ASX 200 shares during the first quarter
• Why did the Boral (ASX:BLD) share price have such a positive day?
• Worried about how the federal budget might impact your ASX shares? Here’s what Goldman says
• Why A2 Milk, Atlas Arteria, Block, and Boral shares are tumbling today

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 Bruce Jackson.

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The illustrious S&P/ASX 200 Index (ASX: XJO) is recognised as the institutional investable benchmark in Australia. It has been designed to measure the performance of the 200 largest index-eligible stocks listed on the ASX by float-adjusted market capitalisation

As readers will be aware, there has been significant weakness in certain areas of the market this year, which has hit share prices hard.

In light of this, you may be surprised to learn that the shares listed below are still part of the ASX 200. Well, at least until the next quarterly rebalance in June.

Here are three shares that are clinging precariously to their ASX 200 status:

Clinuvel Pharmaceuticals Limited (ASX: CUV)

The Clinuvel share price is down 1% to $17.08 on Tuesday afternoon. This means the biopharmaceutical company’s shares have now lost over 40% of their value since the start of the year. This means that with 49.4 million shares outstanding, Clinuvel has seen its market capitalisation fall to $843 million.

PolyNovo Ltd (ASX: PNV)

The PolyNovo share price is edging lower again on Tuesday and is down 1% to $1.04. This latest decline means the medical device company’s shares have lost a third of their value in 2022 and a whopping 64% over the last 12 months. In light of this share price weakness, the company now has a market capitalisation of just $688 million.

Zip Co Ltd (ASX: Z1P)

Finally, the Zip share price has tumbled to a two-year low of $1.32 this afternoon. This means the buy now pay later provider’s shares are down 70% in 2022 and 84% over the last 12 months. Given this severe decline, it will come as no surprise to learn that its market capitalisation has taken a major hit. With approximately 685.3 million shares outstanding, Zip has a market cap of $904 million.

Foolish Takeaway

In just under two months, S&P Dow Jones Indices will announce its next rebalance. Unless there is a major improvement in their respective market capitalisations, the three shares above are potentially going to be candidates for eviction from the index. Stay tuned for that.

The post 3 beaten up shares you might be surprised to learn are still part of the ASX 200 appeared first on The Motley Fool Australia.

More reading

• Why A2 Milk, G8 Education, Nearmap, and Zip shares are dropping
• Zip shares hit new multi-year low. What’s going on?
• The Zip share price is a buy with 180% upside: broker
• These were the worst 3 ASX All Ordinaries shares to hold during the March quarter
• These are the 10 most shorted ASX shares

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. owns and has recommended POLYNOVO FPO and ZIPCOLTD FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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