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Key points

• Genworth is cruising today following a company announcement
• The company has been selected as the exclusive provider of lenders mortgage insurance to Commonwealth Bank
• The agreement is set to run for a period of 3 years starting 1 January 2023
• In the last 12 months the Genworth share price has climbed by less than 4%

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The Genworth Mortgage Insurance Australia Ltd (ASX: GMA) share price is soaring today and is now trading 12.39% in the green.

At the time of writing, shares in the provider of lenders mortgage insurance (LMI) are changing hands at $2.45, after rallying as high as $2.50 from the open today.

Investors are rewarding Genworth today following a company announcement regarding a new service contract.

What was announced?

The Genworth share price is on the rise after the company advised it has been selected as the exclusive provider of LMI to the Commonwealth Bank of Australia (ASX: CBA) for its CBA and Residential Mortgage Group (RMG) businesses.

Genworth says the current supply and service contract it holds with the bank will “expire at the end of the current exclusivity agreement on 31 December 2022”.

As such, the new agreement is set to run for a period of 3 years starting 1 January 2023 and expiring on 31 December 2025.

The contract will include a “provision of LMI for a minimum proportion of new high loan to value ratio (LVR) residential mortgage loans”. It is designed for the CBA and RMG businesses only, not Bankwest.

Today’s gain is a welcome relief for shareholders, who have endured a rough period of wide-stretching volatility in the Genworth share price in the last 3 months.

The last time we heard from the company was back in November, when it stated intentions for an on-market share buyback from 8 December.

However, amid the market-wide sell-off during the past 2 weeks, the Genworth share price collapsed and bottomed at $2.18 on Tuesday.

Speaking on the announcement, Genworth CEO Pauline Blight-Johnston said:

For more than 50 years, CBA and Genworth have partnered to help Australians build financial and emotional security through home ownership. We are delighted to continue our relationship, supporting CBA and its borrowers. The renewed contract will support the strategic business goals of both CBA and Genworth, as well as delivering additional value to CBA’s customers and appropriate returns for Genworth’s shareholders.

Genworth share price snapshot

In the last 12 months, the Genworth share price has climbed by less than 4%. However, it has crept up 6% this year to date amid today’s gains.

Nonetheless, the company lags the benchmark S&P/ASX 200 Index (ASX: XJO)’s return in the past year. At the time of writing, Genworth has a market capitalisation of $897 million.

The post ‘Exclusive provider’: Genworth (ASX:GMA) share price leaps 12% on CBA deal appeared first on The Motley Fool Australia.

More reading

• Why the PointsBet (ASX:PBH) share price is rocketing 9% today
• Why is the BlueBet (ASX:BBT) share price surging 10% higher today?
• Mineral Resources (ASX:MIN) share price hit by broker downgrade
• Bitcoin and Ethereum are at 6-month lows. Is now the time to pounce?
• These 3 ASX 200 shares held up the best in the last market crash

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 Bruce Jackson.

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Key points

• The online gambling market continues to grow
• West Virginia becomes the third US state to host PointsBet’s online casino operations
• The PointsBet share price is leaping higher

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The PointsBet Holdings Ltd (ASX: PBH) share price is rocketing in morning trade, up 8.65% to $5.66 per share.

Below we look at the ASX-listed company’s latest expansion into the United States gambling market.

What expansion plans were announced?

The PointsBet share price is surging after the company announced the launch of online casino operations in a third US state.

The launch is in West Virginia via the bookmaker’s wholly-owned subsidiary, PointsBet West Virginia LLC.

This follows the release of PointsBet’s mobile app and digital sports betting product in West Virginia in August 2021.

PointsBet already offers its iGaming platform in 2 other US states – Michigan and New Jersey. PointsBet launched the platform in Michigan in May last year, followed by New Jersey in July.

PointsBet’s VP of Online Casino Revenue, Aaron O’Sullivan, said:

As PointsBet rapidly expands its presence across the US and the online casino market continues to surge in popularity, we are thrilled to be able to now offer an online casino experience to users in West Virginia. It has been our goal to deliver the best-in-class casino content to our users in all of the states where we are permitted to offer the service.

PointsBet’s President of Product and Technology, Manjit Gombra Singh, added:

We’re quickly scaling our business and have now integrated Scientific Games’ platform to expand our premium content portfolio. We’re looking forward to expanding and refining our suite of products throughout the year to deliver more options for our users in PointsBet online casinos.

PointsBet credited its entry into the West Virginia market to its relationship with the Hollywood Casino at Charles Town Races.

PointsBet share price snapshot

It’s been a rocky road for the PointsBet share price over the past 12 months. It’s currently down by 64%.

By comparison, the somewhat battered S&P/ASX 200 Index (ASX: XJO) remains up 2.3% over the same period.

So far in 2022, Pointsbet shares are down by 21%.

The post Why the PointsBet (ASX:PBH) share price is rocketing 9% today appeared first on The Motley Fool Australia.

More reading

• PointsBet (ASX:PBH) share price sinks 9% despite launching in New York
• ASX 200 (ASX:XJO) midday update: Zip confirms Sezzle talks, Fortescue’s Q2 update
• Top broker tips 80% upside for the PointsBet (ASX:PBH) share price
• 2 buy-rated ASX tech shares with 100% upside in 2022
• Here’s why the PointsBet (ASX:PBH) share price stormed 5% higher today

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

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Key points

• BlueBet shares are rising after it gained access to the Colorado market in the US
• Colorado is the sixth largest sports betting market in the country
• Management is in discussions for similar agreements in other states

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The BlueBet Holdings Ltd (ASX: BBT) share price has come back from the public holiday in style.

In morning trade, the sports betting company’s shares are up over 10% to $1.15.

Why is the BlueBet share price charging higher?

The catalyst for the rise in the BlueBet share price on Thursday has been the release of an announcement relating to its US operations.

According to the release, the company’s BlueBet Colorado business has signed a 10-year skin agreement with The Wild Card Saloon & Casino. It is a casino operator based in Blackhawk, Colorado.

The agreement is BlueBet’s second skin agreement in the US and allows BlueBet to conduct business to consumer (B2C) online sportsbook operations in Colorado as an extension of its existing casino licence. Though, this is pending the completion of regulatory approval and licensing.

The Colorado market is a great one for BlueBet to have access to. The release notes that it is the sixth largest sports wagering market in the US, with turnover of US$3.7 billion in the 12 months to November 2021.

Furthermore, a big positive for BlueBet is that Colorado has among the highest levels of online wagering in the US with 98% of sports bets placed online. Colorado is also the state BlueBet has chosen for its US headquarters, which has been established in Denver.

But management is settling just for Colorado. It advised that it remains in commercial discussions with skin holders in several other target states and is assessing ten further states where sports betting is legal but not yet operational against its established entry criteria.

What now?

BlueBet notes that this agreement forms part of its two-stage US entry strategy. The first stage is the launch of a B2C business to gain access to the lucrative US market and demonstrate the capability of BlueBet’s technology and team.

After which, once BlueBet has gained a foothold in the market, the second stage will be launching its white-labelled Sportsbook-as-a-Solution offering, enabling partners to benefit from BlueBet’s market-leading technology and expertise running successful sportsbooks.

Management commentary

BlueBet’s Chief Executive Officer, Bill Richmond, commented: “We are excited to announce a market access agreement with The Wild Card Saloon & Casino in Colorado. It is our second skin agreement in the US, as we continue our capital light US entry strategy by aligning with existing licence holders to access the world’s largest sports wagering market.“

“Colorado is a huge opportunity for BlueBet. It is the US’s sixth largest sports wagering market with over US$3.7 billion in turnover in 2021, almost entirely wagered online. We are confident that Colorado bettors will respond well to our mobile-first online offering, and we look forward to offering them our range of innovative products and features,” he added.

The post Why is the BlueBet (ASX:BBT) share price surging 10% higher today? appeared first on The Motley Fool Australia.

More reading

• 3 exciting small cap ASX shares to watch in 2022

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BlueBet Holdings Ltd. 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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Key points

• The Mineral Resources share price is coming under more pressure after JPMorgan downgraded it to underweight or sell
• The ASX iron ore and lithium miner has lost more than 9% since its disappointing December quarterly report on 25 January
• All the miner’s divisions posted mixed results although management is sticking with its FY22 guidance

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The Mineral Resources Limited (ASX: MIN) share price is coming under further pressure after getting hit by a broker downgrade today.

Shares in the iron ore and lithium miner tumbled 1.8% to $56.09 in early trade when the S&P/ASX 200 Index (ASX: XJO) rebounded 0.4%.

The Mineral Resources share price has shed more than 9% since it released its quarterly update on Tuesday.

Why JPMorgan downgraded the Mineral Resources share price

That update was the driver behind JPMorgan’s decision to cut its recommendation on the shares to underweight. Its previous rating was neutral.

“Iron ore shipments were 3% ahead of JPM,” said the broker. “However, the achieved price of $63/t ($69/t excluding provisional pricing) was a miss vs JPMe at $81/t and represented a 43% discount.”

That’s a big discount. Even Fortescue Metals Group Limited (ASX: FMG) got better prices as its discount was 32% to the average spot price.

The silver lining was that shipments of the steelmaking ingredient were in line with JPMorgan’s estimates. But that wasn’t enough to save the Mineral Resources share price from getting the chop.

Lithium operations failing to charge up

The miner’s lithium operations also produced mixed results despite surging demand for the mineral. Lithium is one of the hottest commodities due to the electric vehicle revolution with supply struggling to meet demand.

Sales from Mineral Resources’ Mt Marion lithium project was 8% below JPMorgan’s forecasts. The saving grace was that the miner’s achieved price of US$1,153 per tonne was 7% above the broker’s estimates.

Other factors dragging on sentiment

Shareholders won’t find relief from Mineral Resources’ mining services division either. Volumes from this business unit fell 5% from the previous quarter. At least management stuck to its 15% to 20% volume growth guidance for FY22.

There is also perhaps some disappointment about the lack of material updates for its Wodgina project. Wodgina is expected to produce its first spodumene in 1QFY23.

What is the Mineral Resources share price worth?

“Overall, negative revisions to our realized price, and higher costs leads us to lower FY22E earnings by 36%,” said JPMorgan. “We note our near[1]term iron ore forecasts sit below spot.”

The broker lowered its 12-month price target on the Mineral Resources share price to $45 from $46 a share.

Despite the recent sell-off, the miner is still sitting on gains of around 50% over the past 12-months.

The post Mineral Resources (ASX:MIN) share price hit by broker downgrade appeared first on The Motley Fool Australia.

More reading

• Mineral Resources (ASX:MIN) share price tumbles 7% on quarterly update
• Analysts name 3 hot ASX lithium shares to buy now
• Where this fundie sees ASX lithium shares heading from here
• Why ASX lithium shares could send heads spinning this earnings season
• These were the best performing ASX 200 shares last week

Motley Fool contributor Brendon Lau owns Fortescue Metals Group 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 Bruce Jackson.

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Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are both trading right at their levels of 24 hours ago.

At the time of writing, one Bitcoin is worth US$36,529 (AU$51,382), according to data from CoinMarketCap.

Bitcoin, the world’s top token by market cap, staged a brief rally over the past 24 hours, reaching as high as US$38,825, but that 6% price gain proved unsustainable. At least for now.

Ethereum, trading at US$2,443, also saw prices spike over the 24 hours, reaching US$2,706 while most Aussies slept. It’s now down 9% from that level.

At the current prices, Bitcoin remains down 47% from its 10 November all-time highs of US$68,790. Ethereum is down 50% from its own record high, which it hit on 16 November.

Is it a good time to buy Bitcoin and Ethereum?

You have to go back some 6 months to find either token trading significantly lower than today’s prices.

That, as you’d expect, has many crypto investors wondering if now is the time to buy the dip… or if both Bitcoin and Ethereum could have far further to fall.

While the jury remains out on the definitive answer to that question, Crypto.com general manager Asia Pacific, Karl Mohan, remains decidedly bullish on the outlook for cryptocurrencies.

As The Australian reports, Mohan says the year-on-year trendline is up “both in terms of the crypto total market cap, and total number of crypto users”.

Indeed, go back a year and you’d find Bitcoin trading around US$30,400 and Ethereum in the range of US$1,250 — both well below today’s levels.

Crypto.com’s own statistics indicate the total number of crypto users increased from 106 million at the beginning of 2021 to end last year at 295 million. And Mohan believes those numbers will continue to charge higher.

According to Mohan (quoted by The Australian):

It was a remarkable growth rate, and we’re expecting crypto will reach 1 billion users by the end of the year. We also saw record growth in terms of people working in the crypto industry too. Our staff headcount grew more than 4-times in 2021, and we’re now at over 3,000 employees globally.

Foolish takeaway

If Mohan is right and crypto adoption continues to skyrocket, it should provide some strong tailwinds to leading tokens like Ethereum and Bitcoin.

But you need only look at the past few years’ price charts to know that even if these cryptos return to an upward trend, it’s likely to remain a wild ride.

Invest with care.

The post Bitcoin and Ethereum are at 6-month lows. Is now the time to pounce? appeared first on The Motley Fool Australia.

More reading

• Could this Achilles’ heel bring Bitcoin tumbling down?
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• $1.4 trillion evaporates. What’s happening with the crypto crash?
• Investing in crypto? ASIC chairman sounds warning

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Bitcoin and Ethereum. 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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Key points

• The ASX 200 has fallen more than 8% since the beginning of the year
• Investors might be seeking out investments capable of performing during a market downturn
• Three Australian companies not only stayed out of the red, but moved higher during the last market crash

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The S&P/ASX 200 Index (ASX: XJO) moved closer towards the official definition of a ‘correction’ on Tuesday. Meaning the benchmark index has fallen almost 10% from its recent high, erasing all of the ground covered since May 2021.

Unsurprisingly, many investors are seeking out areas of the market that might have a better chance of holding up during more turbulent times. This may include companies with strong balance sheets, existing profitability, and a proven track record during difficult operating environments.

The COVID-19 crash of 2020 might serve as a good reference point to evaluate which ASX 200 shares have demonstrated their staying power.

Here are the three ASX 200 shares that handled the last ASX share market crash exceptionally well.

These ASX 200 shares have held steady in the past

Before we jump into the list, we need our point of reference. In this case, it is how the ASX 200 performed during the COVID-19 crash in 2020. Between 14 February and 23 March 2020, the benchmark index plummeted an unsettling 36.2%.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

One ASX 200 share that was able to avoid the nasty sting of the pandemic was respiratory care product manufacturer, Fisher & Paykel Healthcare. Rather than setting new 52-week lows during this time, the ventilator maker was setting new 52-week highs.

Fortunately for Fisher & Paykel, the pandemic hinted at the potential for an increase in demand for its medical-grade respiratory products. This was confirmed by the company with an update in March 2022 whereby Fisher & Paykel noted its products were “directly involved in treating patients with coronavirus”. In the same update, the company revised its revenue and earnings expectations higher.

These factors, when combined, were accompanied by a positive reaction from investors. In contrast to the despair painted in red by the ASX 200, the Fisher & Paykel share price rallied 12.1% throughout the market crash.

Metcash Limited (ASX: MTS)

Metcash is another company featured in the ASX 200 that averted losses during the COVID-19 market crash. The grocery, hardware, and liquor conglomerate benefitted from a flight to staples as the economy weakened. However, no official announcements were released by Metcash during the timing of the broader market crash.

The Metcash share price pushed 19.6% higher during the brief stint of elevated fear for investors. The company has gone on to deliver further gains for its shareholders. This has been fuelled by increased profitability and growing revenue across the business.

Analysts at Ord Minnett recently tagged Metcash with a buy rating and a $5 price target — suggesting a further 23% upside.

Chalice Mining Ltd (ASX: CHN)

The final ASX 200 share on the list was the best performing through the dizzying ride to the downside of 2020. The mineral exploration company, Chalice Mining, flourished for its shareholders while the rest of the market floundered.

A handful of announcements were published by Chalice during the February to March period of 2020. Perhaps most important were the findings at the Julimar Project in Western Australia. Posted at the peak of the market crash, Chalice Mining pulled back the curtain on its first drill hole at the promising nickel-copper-palladium project. This would mark the first of many positive results to come from Julimar.

In turn, the Chalice Mining share price soared 26.7% during the five-week stint of market mayhem.

The post These 3 ASX 200 shares held up the best in the last market crash appeared first on The Motley Fool Australia.

More reading

• Are ASX consumer staples shares really ‘safe’ to hold in a market selloff?
• 2 underrated ASX dividend shares to think about: analysts
• 2 big-name ASX shares to buy right now
• Why Domino’s, Fortescue, Medibank, and Metcash shares are falling
• Here are the 5 best performing ASX 200 mining and resource shares of 2021

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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Key points

• The Kogan share price fell 15% at market open today to a new 52-week low
• The drop follows its latest business update
• The Kogan share price hit its last 52-week-low on Tuesday

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The Kogan.com Ltd (ASX: KGN) share price is sinking lower again this morning, hitting a new 52-week-low just a day after its last.

At market open, the Kogan share price was down 15%, at $5.96. It has since staged a slight recovery and at the time of writing is down 11.84% at $6.18.

Today’s drop coincides with the release of the online retailer’s latest business report, which revealed its first-half results.

So, what did Kogan release?

Kogan share price slumps on update

The Kogan share price is falling after the company reported its results for the first half of the 2022 financial year. The key points included:

• Gross sales up more than 9% year over year (YoY) to $698 million
• Gross profit declined just over 4% YoY to $112.4 million
• Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of $21.7 million
• Net cash of $39.7 million

Looking closer at its retailing operations, the company reported:

• More than 4 million active customers reached (more than 10% YoY growth)
• “Kogan First” loyalty members grew by 176% (at 31 December 2021) and by almost 40% in the period since 30 September 2021
• A reduction in inventories — $227.9 million (as at 30 June 2021), down to $196.8 million (as at 31 December 2021), comprising of both warehouse and stock in transit.

What happened in the first half?

In dissecting its gross sales performance, Kogan believes the boost can be attributed to the “continuously accelerating Kogan Marketplace” — a platform partnering and exposing select brands and distributors to Kogan customers.

Additionally, it believes its loyalty program “Kogan First” was also a key driver, as well as Kogan Energy (power and gas partnership with part of the Meridian Energy Ltd (ASX: MEZ) group) and Kogan Mobile New Zealand (telecommunications partnership with Vodafone New Zealand).

The company cited its gross profit decline to coronavirus-related disruptions to its supply chain. However, the company still believes it experienced growth on 1H FY20, with a compound annual growth rate (CAGR) of more than 50%.

The company was proud of its net cash position as of 31 December, as this was reported after funding the $29.9 million “Tranche 2” payment of its acquisition of Mighty Ape (initially announced back in December 2020).

Mighty Ape is one of New Zealand’s biggest online gaming and entertainment retailers and had 757,000 active customers as of 31 December.

Since 31 December, the Kogan share price has declined by 30%.

Comment from management

Kogan CEO and founder Ruslan Kogan said:

Over four million Aussie and Kiwi shoppers have recently experienced the choice, value and delivery benefits of the Kogan.com Group…

We have continued to re-invest in our customers through the Kogan First loyalty program to offer the best deals on a wide range of products, delivered quickly and efficiently.

After launching late last year, Kogan Delivery Services is already making an impact with more than 100,000 orders delivered directly to customers since launch.

As always, we’re obsessed with the long term, and our ever-improving customer experience continues to underpin business success.

Kogan share price snapshot

The Kogan share price hasn’t had a great run recently. The company hit a 52-week-low of $7.16 just last week, but that was surpassed on Tuesday by a closing price of just $7.01. Today, Kogan broke its record yet again.

On Monday, Kogan was reported as one of ASIC’S most shorted ASX shares, with its short interest increasing to 12.2%.

This represents a 20% drop in the last month, and an overall 66% drop in the past 12 months.

The company has a market capitalisation of $749.29 million and a price-to-earnings ratio (P/E) of 217.39.

The post Here’s why the Kogan (ASX:KGN) share price just sank 15% appeared first on The Motley Fool Australia.

More reading

• Here’s why the Kogan share price has a lot of potential upside
• These are the 10 most shorted ASX shares
• These were the worst performing ASX 200 shares last week
• Why Anteotech, Appen, Boral, and Kogan shares are rising today
• Kogan (ASX:KGN) share price hits new 52-week low. Down 37% in 6 months

Motley Fool contributor Alice de Bruin has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Kogan.com ltd. The Motley Fool Australia owns and has recommended Kogan.com ltd. 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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Key points

• BrainChip had handed in its fourth quarter update
• The artificial intelligence technology company delivered strong sales growth but from a small base
• Management highlights a number of big developments during the quarter

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The BrainChip Holdings Ltd (ASX: BRN) share price is rebounding strongly on Thursday.

At the time of writing, the artificial intelligence technology company’s shares are 12% to $1.60.

Why is the BrainChip share price storming higher?

Investors have been bidding the BrainChip share price higher today following the release of its fourth quarter update.

During the three months ended 31 December, the company achieved strong growth in its cash receipts, albeit from a very small base. Cash receipts from customers came in at US$1.1 million, up 83% quarter on quarter.

This couldn’t stop BrainChip from recording a net operating cash outflow of US$3.4 million for the three months. Though, this is an improvement on the prior period’s cash outflow of US$4 million.

This left the company with a cash balance of US$19.4 million at the end of December.

What else did the company say?

BrainChip provided investors with a breakdown on events during the fourth quarter of FY 2021. This includes the appointment of a new CEO and the receipt of the first batch of the Akida AKD1000 neuromorphic processor chips from Socionext America.

This has allowed the company to commence taking orders of the Akida development kits from its partners, large enterprises, and OEMs for their own internal testing and validation.

Management also highlights that during the quarter it licensed its Akida IP to major ASIC manufacturer, MegaChips, to help it enhance and grow its technology positioning for next-generation, Edge-based AI solutions.

BrainChip also separately provided an update on its top 20 shareholders which include a number of large financial institutions. It also revealed that its former CEO hasn’t sold shares since leaving the company early last year.

BrainChip’s CEO, Sean Hehir, commented: “The December Quarter was another breakout quarter for BrainChip that included the granting of three additional patents, further strengthening our patent portfolio; the completion of testing for the production version of our Akida technology; and the signing of another major license agreement with a top-tier customer, MegaChips. This was our second IP license agreement and further validates our technology.”

“Since the conclusion of the quarter, we have welcomed another Non-Executive Director, Pia Turcinov, plus launched our PCIe production board to the market via a low-touch ecommerce model. The Company also received yet another key patent grant related to the Akida technology. In the coming quarter, the Company will be focused on the Akida go-to-market strategy refinement and adding additional resources to our Sales and Marketing teams,” he added.

A big quarter for BrainChip, but expectations are very high for 2022. Time will tell whether it lives up to the hype.

The post Why is the BrainChip (ASX:BRN) share price storming 12% higher? appeared first on The Motley Fool Australia.

More reading

• What happened to ASX tech shares today?
• Why Accent, BrainChip, Fortescue, and Novonix shares are sinking
• Is BrainChip (ASX:BRN) the real deal?
• Why are BrainChip (ASX:BRN) shares smashing ASX 200 trading volumes today?
• Why BrainChip, GrainCorp, Redbubble, and Zip shares are dropping 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 Bruce Jackson.

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Key points

• The Cettire share price is 1.36% higher this morning, trading at $2.99
• The gain follows news the luxury retailer is expanding into beauty products
• Its expansion will include a new vertical on its website, set for a soft launch in March

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The Cettire Ltd (ASX: CTT) share price is soaring this morning after the company announced that it’s launching a ‘beautiful’ new vertical.

The online luxury goods marketplace will soon be offering beauty products – a market said to be worth around $100 billion globally.

At the time of writing, the Cettire share price is $2.99, 1.36% higher than its previous close.

However, it opened 5% higher this morning, swapping hands for $3.11 in early morning trade.

Cettire share price gains on ‘beautiful’ expansion

The Cettire share price is in the green on news the retailer could soon be selling more than 25,000 beauty products from more than 600 brands.

Cettire’s beauty vertical will include skincare, haircare, fragrances, and more to appeal to both women and men.

It’s expected to undergo a soft launch later this quarter.

Between then and now, the company plans to finalise supply arrangements and its commercial proposition.

According to the company, the beauty category houses an approximately $100 billion global opportunity within the personal luxury goods market.

Additionally, it believes expanding its offerings will allow its customers to purchase multiple high value items during their visit to the site.

Cettire founder and CEO Dean Mintz commented on the company’s extension into the beauty market, saying:

Beauty represents a large and growing adjacency within the global personal luxury goods market.

It is a natural extension of our range, particularly as we continue to rapidly scale site traffic and active customers while growing brand awareness globally.

The scope to integrate fashion and beauty provides excellent potential for cross-promotion and provides a further point of differentiation for Cettire.

Today’s news has dropped just months after the company announced its expansion into another key vertical – children’s clothing.

After Cettire announced its move into kid’s clothing on 1 July 2021, its share price launched 4.92%.

However, the company’s stock hasn’t been trading so well recently.

Over the last 30 days, it has fallen 18%. Though, it’s still 346% higher than it was this time last year.

The post Cettire (ASX:CTT) share price gains on new $100b potential market appeared first on The Motley Fool Australia.

More reading

• 2 ASX tech shares that are rapidly growing
• Up 480% in a year: Is it too late to invest in Cettire (ASX:CTT) shares?
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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. owns and has recommended Cettire Limited. The Motley Fool Australia has recommended Cettire 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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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.

I don’t know about you, but my portfolio has been bleeding red since the beginning of the year. Multiples have been contracting, and a lot of former high-flyers are amazing bargains right now. On Monday, I started buying my favorite crypto again. (trading disclosure rules prevent me from saying which one.) And happily, that coin was up nicely on Tuesday. So maybe we’ve reached a bottom in crypto. And I’ve noticed a few of my big stock losers, like Smile Direct Club, were up big on Tuesday, too.

Overall, the Nasdaq is down 11.6% since the beginning of the year (as of Wednesday afternoon). That’s a pretty big hit considering the index is dominated by mega-caps like Apple, Amazon, and Microsoft. Let’s take a look at some prior crashes — September 2001, the Great Recession of 2008-09, and the coronavirus sell-off in 2020 — and see how the stock market responded after these sell-offs. 

1. Sept. 20, 2001 — Nasdaq has dropped 13%

After the terrorist strike against Wall Street, the stock market panicked and there was a quick sell-off. Nine days after the towers fell, the Nasdaq was down 13%. There would be one more ugly day. And then the stock market took off. A month after the terrorist attack, the stock market was back to where it was before.

^IXIC data by YCharts

The absolute bottom was about a 16% drop for the Nasdaq. But people who bought when it was down 13% definitely benefitted.

Of course, the September 2001 crash was caused by a specific event. Today it’s more like a death from a thousand cuts. How does the market respond when bad news comes in waves? Let’s look at the Great Recession in 2008-09, and how that affected the Nasdaq.

2. Oct. 1, 2008 — Nasdaq has dropped 13%

The real estate crash was particularly scary for the markets. A lot of banks imploded, and some went out of business. The government had to rescue others. The crash started in September 2008, and a month later Nasdaq investors were seeing double-digit percentage losses.

Of course, the Nasdaq is a tech-heavy index. It’s not dominated by real estate companies or banks. And you might think that stocks like Amazon or Microsoft would be immune to this sell-off. But fear is contagious. And those optimistic bulls who figured that “down 13%” might be a buy signal for the Nasdaq, well, they were slaughtered.  If you bought the Nasdaq on Oct. 1, 2008, this is what happened next.

^IXIC data by YCharts

Ouch! The Nasdaq continued to plummet. The crash got worse, and worse, and worse. Finding a bottom is always tricky. And there is no “the Nasdaq has dropped 13% and it has to go up now” rule. So lesson No. 2 is that short-term pain today does not mean there will be short-term happiness tomorrow. Bear markets can hurt for a while.

But will the markets recover? Of course! They always do. In this case, it took almost a year for the Nasdaq to get back to prior levels.

^IXIC data by YCharts

Over the next decade, the Nasdaq would almost quadruple! So while it definitely feels scary (and stupid) to buy stocks when the markets are shedding value, over time that’s a great move. The key, of course, is to make sure you’re buying the right stocks. When the market is killing stocks indiscriminately (which is happening right now, in my opinion), it’s always a great time to buy the best stocks in the world. When the panic subsides, those are the ones that will recover quickest, continue to soar, and take the Nasdaq back to positive returns.

3. March 1, 2020 — Nasdaq has dropped 13%

The stock market was doing fine until Feb. 19, 2020. That’s when people started to take alarm at what was happening in Wuhan, China, and at the fast-spreading virus that originated there. The Nasdaq lost 13% of its value in a couple of weeks. So if you bought stocks in an optimistic hope that this viral threat was overhyped, well, you were wrong. March 1, 2020, was a horrible time to buy stocks.

^IXIC data by YCharts

So the market’s dropped 13%, and you buy, and the market drops another 20% from there. Brutal. But if we expand our time horizon a little, we see that this was actually a great investment. How did that “stupid” investor who bought on March 1 do in 2020? They made a nice 50% gain for the year.

^IXIC data by YCharts

These charts confirm what we know to be true. Nobody knows what will happen in the short term. Where will the stock market be next week? No idea. But these sharp sell-offs can be wonderful entry points for patient, long-term investors. And some fantastic stocks are on sale right now. We don’t know when stocks will recover. But the future is bullish. Up and to the right is the long-term trend for the stock market, and the Nasdaq.

^IXIC data by YCharts

Don’t get caught up in any short-term fright. Stay focused on the long term, continue buying shares of the strongest companies in the world, and you’ll do fine. 

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

The post The Nasdaq is down 11% in 2022 — 6 charts suggest what will happen next appeared first on The Motley Fool Australia.

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Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Amazon, Apple, and Microsoft. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Nasdaq and recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Apple. 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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