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The Credit Corp Group Limited (ASX: CCP) share price is flying higher today following the company’s acquisition of Radio Rentals.

At the time of writing, the receivables management company’s shares are up 8.41% to $32.75. It’s worth noting that its shares have strongly rebounded after dipping below the $30 mark yesterday, a monthly low.

Credit Corp accelerates growth strategy

Investors are driving up the Credit Corp share price after the company announced the takeover of Australia’s favourite rental company.

In its release, Credit Corp advised that it has entered into a binding agreement to acquire Radio Rentals from Thorn Group Ltd (ASX: TGA).

The purchase price for the appliance leasing business is valued at around $60 million. Credit Corp will tap into its existing cash reserves to fund the acquisition. The purchase is subject to final adjustments and is expected to be completed sometime next month.

Credit Corp CEO, Thomas Beregi commented on the newly acquired business:

Credit Corp provides the cheapest and most sustainable finance to the Australian credit impaired consumer market and our entry into this new segment will be consistent with that approach.

As a result of the newly acquired business, Credit Corp revised its earnings guidance for the 2022 financial year.

The company is forecasting purchased debt ledger (PDL) acquisitions to come in the range of $280 million to $300 million. In comparison, Credit Corp had previously projected $220 million to $240 million for PDL acquisitions.

Furthermore, net lending volumes are anticipated to remain the same, between $45 million and $55 million.

The company’s bottom line, net profit after tax (NPAT) is estimated to lift to $92 million and $97 million. Earlier this month, it assumed NPAT would be about $85 million to $95 million.

Lastly, earnings per share (EPS) is expected to stand at 137 cents to 144 cents. This is an increase from the 126 cents to 141 cents the company originally predicted.

Credit Corp share price summary

Over the past 12 months, Credit Corp shares have gained almost 35%, with year-to-date up around 10%. The company’s share price reached a 52-week high of $34.48 in February, before treading sideways in the following months.

Credit Corp presides a market capitalisation of roughly $2.2 billion, with approximately 67.83 million shares on its registry.

The post Credit Corp (ASX:CCP) share price soars 8% on Radio Rentals acquisition appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has 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 Vection Technologies Ltd (ASX: VR1) share price had a roaring time last week, but that has since changed.

The company broke a trading halt to announce a strongly supported $12 million institutional placement this morning. Unfortunately, the market has reacted poorly to the news.

At the time of writing, the Vection Technologies share price is 24.2 cents, 12% lower than its previous close.

Let’s take a look at the latest news from the software company.

Vection Technologies share price flops

The Vection Technologies share price is back in business today after the company announced it has received commitments for a $12 million institutional placement.

Additionally, the company announced its managing director, Gianmarco Biagi, and its director and chief sales operator, Lorenzo Biagi, will be selling a combined 15 million Vection Technologies shares to fund personal obligations. The company noted that represents less than 5% of their aggregate holdings.

Under the placement, mostly tech-focused institutional investors will be purchasing 60 million new Vection Technologies shares for 20 cents apiece. The offer price is equal to Vection Technologies’ stock’s 15-day volume-weighted average price.

Some $10 million of the funds raised through the placement will bolster the company’s balance sheet – bringing its cash balance up to $20 million.

It will also expand the company’s merger and acquisition “war-chest”, helping to speed up Vection Technologies’ global acquisition strategy.

The other $2 million will support its expansion plans and research and development capabilities.

Vection Technologies’ acquisition strategy is targeting the extended reality and metaverse enterprise technology sector. The company expects the sphere will soon house intense competition and its growth strategy will help it emerge as a leader in the space.

Following the placement, 17.2% of the company’s stock will be held by institutional investors. Vection Technologies’ board and management will still own 38.8% of its shares.

The Vection Technologies share price was put in the freezer on Monday as the company prepared to announce the capital raise.

Prior to the trading halt, the company’s stock was on a roll. The Vection Technologies share price soared 37.5% over the course of last week after the company unveiled its metaverse offering.

The metaverse – dubbed FrameS – is expected to be implemented by companies with an at-home workforce. It will allow the creation of digital office spaces.

The post Vection Technologies (ASX:VR1) share price tumbles 12% following trading halt. Here’s why appeared first on The Motley Fool Australia.

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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. 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 Galan Lithium Ltd (ASX: GLN) share price is getting a jolt of enthusiasm on Tuesday.

At the time of writing, shares in the lithium explorer are up 9% to $1.635. However, earlier in trade Galan shares topped as much as $1.71, representing a 14% increase from its previous close.

Accounting for today’s spectacular gain, the Galan Lithium share price is now up a gobsmacking 352% in 2021.

Why is the Galan Lithium share price flying higher today?

Investors are putting their money behind the Galan Lithium share price on Tuesday following the release of the company’s preliminary economic assessment (PEA) for its project in Argentina.

The 100% owned Candelas project in Catamarca, Argentina delivered ‘excellent’ preliminary results. Galan highlighted a potential unleveraged pre-tax net present value of US$1,225 million. This was determined with an 8% discount rate and an internal rate of return of 27.9% over a four-year period.

Importantly, the company used a long-term average real lithium price assumption of US$18,594 per tonne. Considering the current going rate is around US$29,000 per tonne, this appears to be a relatively conservative estimate.

Furthermore, the assessment inferred a project life of 25 years, capable of producing 14,000 tonnes per annum of battery-grade lithium carbonate. Another important factor is the expected cost of production. The PEA indicates a competitive cash production cost of US$4,277 per tonne.

It is expected the development would take around US$408 million (A$570 million) in initial outlay to get the project off the ground. For context, based on the current Galan Lithium share price, the company currently has a market capitalisation of $473 million.

What did management say?

In the announcement, Galan’s managing director Juan Pablo Vargas de la Vega said:

We are delighted by the strong and competitive results of the Candelas Project PEA. Our projects continue to show healthy economics and upside despite using a conservative long term price assumption at a time when new lithium projects are scarce. Galan now has two potential production fronts combining for a long-term production rate of 34ktpa of LCE. This rate could be even higher once we finish drilling at our flagship HMW project.

In addition, Vargas de la Vega stated:

We remain determined to bring our projects to market in the shortest possible time so that we can supply lithium for future lithium battery requirements needed for electric vehicles.

Lastly, the company has enjoyed a stellar run this year, riding on the coattails of strong lithium demand. In the past year, the Galan Lithium share price has skyrocketed 395% in value.

The post Galan Lithium (ASX:GLN) share price leaps 9% on ‘excellent’ project results appeared first on The Motley Fool Australia.

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• ASX 200 (ASX:XJO) midday update: AMP shares jump, Collins Foods impresses
• Why is the Aussie Broadband (ASX:ABB) share price soaring today?
• GUD (ASX:GUD) share price halted amid $745 million acquisition
• Why did the Omicron crypto just rocket 900% and what is it doing now?

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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At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) is back on form and charging higher. The benchmark index is currently up 1.1% to 7,321.6 points.

Here’s what is happening on the ASX 200 today:

AMP demerger update

The AMP Ltd (ASX: AMP) share price is charging higher today following the release of a demerger and strategy update. Management notes that the demerger will see AMP Limited operate as a retail wealth manager in Australia and New Zealand. Whereas PrivateMarketsCo will operate as a global manager of infrastructure and real estate investments with a growing focus on international institutional clients. PrivateMarketsCo will focus on leveraging the significant opportunity to become a global leader in the fast-growing private markets industry.

Collins Foods’ result impresses

The Collins Foods Ltd (ASX: CKF) share price is racing higher today following the release of a strong half year result. The quick service restaurant operator reported a 9.5% increase in revenue to a record of $534.2 million and a 31.6% jump in underlying net profit after tax to $28.9 million. The KFC Europe business was a key driver of this strong half.

Westpac’s ASIC agreement

The Westpac Banking Corp (ASX: WBC) share price is pushing higher after reaching an agreement with ASIC to resolve six separate longstanding matters through agreed civil penalty proceedings filed in the Federal Court of Australia. Westpac and ASIC will jointly submit agreed proposed penalties for each of the proceedings, totalling $113 million. The matters include the provision of incorrect interest rate information provided to debt purchasers and the charging of advice related fees to deceased customer accounts.

Best and worst ASX 200 performers

The Credit Corp Group Limited (ASX: CCP) share price is the best performer on the ASX 200 today with a 9% gain. This follows the announcement of the acquisition of Radio Rentals. The worst performer has been the BlueScope Steel Limited (ASX: BSL) share price with a 2.5% decline on no news.

The post ASX 200 (ASX:XJO) midday update: AMP shares jump, Collins Foods impresses appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited and Westpac Banking Corporation. 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 Collins Foods Limited and Westpac Banking Corporation. 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 Aussie Broadband Ltd (ASX: ABB) share price jumped after it became the latest “buy” rated idea on JPMorgan’s list.

The broker initiated coverage of the broadband services company and highlighted three reasons why it’s bullish on the shares.

The Aussie Broadband share price could soon rechallenge its record highs. The shares surged 7% surge to $5.42 in morning trade. It’s within striking distance of its $5.45 peak hit two weeks ago.

Aussie Broadband share price rises on premium product

JPMorgan reckons it’s worth more as premium product offering offers a strong competitive advantage.

“ABB’s key competitive advantage is in customer service, offering better guarantee of speeds, lower congestion and better responsiveness than the incumbents,” said JPMorgan.

“Higher market churn rates driven by the NBN rollout and more recently increased working-from-home due to COVID-19 lockdowns have contributed to ABB’s strong growth.”

Strong operating leverage

It’s this premium offering that has allowed the company to capture a 5% market share to become the fifth largest NBN retailer to households.

The better service limits the size of the markets Aussie Broadband can service. But the broker reckons it can double its market share by FY27.

The growing subscriber base gives JPMorgan more reasons to recommend the Aussie Broadband share price as “overweight”.

Other reasons to like the Aussie Broadband share price

“We expect strong growth in subscribers to result in 27% per annum revenue growth over the next 5 years with operating leverage to drive higher EBITDA margins,” added JPMorgan.

“The recent white label product offering with Origin could also see incremental subscriber growth and potentially lift ABB’s corporate appeal.”

You can’t underestimate corporate appeal in this market. Merger and acquisitions are all the rage with the Vocus share price and Uniti Group Ltd (ASX: UWL) share price featuring prominently on this front.

Telstra Corporation Ltd (ASX: TLS) is also getting a lot interest for its asset sales as global investors clamour for annuity-style investments.

What is the Aussie Broadband share price worth?

Aussie Broadband is jumping on the M&A bandwagon too. It has made an approach for Over The Wire Holdings Ltd (ASX: OTW).

JPMorgan’s 12-month price target on the shares is $6.50. It noted that the valuation is particularly sensitive to market share gains due to operating leverage.

For instance, if Aussie Broadband captures a 15% market share by FY27, its valuation increases to $11 a share.

The post Why is the Aussie Broadband (ASX:ABB) share price soaring today? appeared first on The Motley Fool Australia.

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Motley Fool contributor Brendon Lau owns shares of Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Aussie Broadband Limited. The Motley Fool Australia owns shares of and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended Aussie Broadband Limited and Uniti 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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GUD Holdings Ltd (ASX: GUD) has hit the pause button on the trading of its shares today as the company announced an acquisition and equity raising.

Before they were put on ice, GUD shares were set to open the session at $12.03, down 3% from a week ago. Let’s take a closer look at what the company announced today.

What’s got the GUD share price halted today?

GUD advised that it has entered into a share purchase agreement to acquire Auto Pacific group for a total consideration of approximately $744.6 million.

The release highlights that APG is a designer and manufacturer of “high-quality, engineered and functional automotive and lifestyle accessories”. APG is “highly complimentary” to the company’s GUD 4-wheel drive and commercial vehicle accessories (G4CVA) platform, per GUD.

It is also “best in class” with respect to its research and development, whereas GUD is also impressed by APG’s “strong financial performance and future growth potential”.

GUD reckons that its latest acquisition is forecast to pull in $80-$84 million of earnings before tax and amortisation (EBITA) in CY22F. The acquisition also has the potential to deliver net synergies of around $7 million per annum according to the company.

GUD made the purchase on a valuation of 9.1X EVB/CY22F EBITA, and after synergies it values the company at 8.4X.

The company expects the deal to be accretive to its earnings per share (EPS), and expects a “low double digit EPSA accretion in pro forma  CY22F”.

To finance the deal, GUD is completing a fully underwritten $405 million equity raise. It will also undertake another $282 million of debt and will issue $75 million worth of new GUD shares to vendors associated with the transaction.

Why did GUD buy APG?

According to the release, the acquisition will see the group make a meaningful step towards its vision of becoming an “integrated leader in 4WD accessories and trailer in Australia and New Zealand“.

The deal will also make a positive contribution to the group’s earnings, as it claims APG is the “undisputed market leader in towing with strong brands at market positions across a diverse range of [4WD accessories]”. 

Commenting specifically on the acquisition, GUD’s CEO Graeme Whickham said:

4WD accessories and trailering is a cornerstone of GUD’s automotive vision. This acquisition represents the culmination of management and the board’s work in creating GUD’s portfolio vision. We are excited by the opportunity for GUD to expand its existing 4WD and commercial vehicle businesses with complementary products, customers and capabilities. APG is an industry leading designer, manufacturer and distributor of high quality, engineered and functional automotive and lifestyle accessories that are suitable for all combustion and electric vehicle applications.

GUD share price snapshot

The GUD share price has struggled these past 12 months after posting a gain of just 7% in that time. Over the year to date, it has climbed just 2.5%.

Despite landing on the green for these 2 time frames, GUD shares are down 1% in the past month and have slipped another 3% this past week.

The post GUD (ASX:GUD) share price halted amid $745 million acquisition appeared first on The Motley Fool Australia.

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• These were the best performing ASX 200 shares in October

The author Zach Bristow has no positions 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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Omicron (CRYPTO: OMIC) only launched a few weeks ago. On 9 November, to be precise.

In its early hours of life, the crypto was trading for US$205 (AU$287). Over the following few weeks, it dipped as low as US$49, trading for US$69 as recently as Saturday, 27 November.

Then word broke of the new COVID variant emerging from South Africa. It was initially labelled B.1.1.529 by the World Health Organisation (WHO). But the mutated virus was rebadged as Omicron over the weekend when the WHO concluded it was a variant of concern.

And then the crazy price action for the Omicron crypto took off.

What happened with Omicron after the variant was named?

In what may be a sign of the times we live in, once the word Omicron was on everyone’s mind due to the viral mutation, the crypto of the same name surged.

On Monday one Omicron was worth US$692. That’s a gain of 903% in less than 2 days.

Astounding.

But the air seems to be coming out of the fast-rising crypto. At the time of writing, it’s trading for US$209. While that’s still well up on Saturday’s US$69, investors who bought at the peak will be nursing a current loss of 70%.

Caveat emptor.

The Bitcoin (CRYPTO: BTC) price, interestingly, went the other way. Bitcoin fell hard alongside global share markets once news of the new COVID variant made global headlines. It then regained much of those losses after medical authorities revealed the variant may not be much more dangerous than Delta.

What does this crypto do?

According to CoinMarketCap, “Omicron is a decentralised reserve currency protocol available on the Arbitrum Network based on the OMIC token”.

CoinMarketCap and other crypto service providers don’t offer a market capitalisation for the token, saying they don’t have the needed information on the circulating supply.

Looking ahead, should there be another COVID variant in our future (let’s all hope not!) it will likely receive the name Pi, next up in the Greek alphabet.

And if you were wondering there is indeed a crypto with that label. Namely, Plian (CRYPTO: Pi). Plian was launched in June 2018 and has a current market cap of US$11 million.

Will Pi take off, briefly, like Omicron if that next COVID variant emerges?

Only time will tell.

The post Why did the Omicron crypto just rocket 900% and what is it doing now? appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin. 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 Orocobre Limited (ASX: ORE) share price has been a strong performer on Tuesday.

In morning trade, the lithium miner’s shares are up 6.5% to a record high of $10.08.

Why is the Orocobre share price at a record high?

The catalyst for the rise in Orocobre share price today appears to have been the release of its annual general meeting update.

While the event didn’t contain a great deal of new information, there were a couple of items that may have got investors excited.

The first is the outlook for lithium supply and demand. The company expects lithium demand to grow materially through to 2040 due to electric vehicle adoption and the global transition to carbon neutrality.

This is expected to lead to a widening deficit over the next two decades, with demand predicted to be more than twice as great as supply by 2040. As a result, the presentation reveals that analysts at Roskill are predicting that this will keep prices at sky high levels long into the future.

What else did the company reveal?

Also potentially giving the Orocobre share price a boost was commentary on current pricing.

The release notes that the company’s Mt Cattlin operation continues to experience strong demand and pricing momentum. So much so, the average price for the December quarter is estimated to be $1,650 per tonne for 6.0% Li2O. This is almost double the September quarterly average.

It was a similar story for its Olaroz brine operation, which has revised its December quarter pricing upwards to US$12,000 per tonne.

Is the Orocobre share price in the buy zone?

One broker that is bullish on the Orocobre share price is Citi.

While it has yet to respond to its annual general meeting update, it currently has a buy rating and $11.00 price target on its shares. This implies further potential upside of 9% for Orocobre’s shares.

The post Why the Orocobre (ASX:ORE) share price is up 6% to a record high today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro owns shares of Orocobre 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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The A2 Milk Company Ltd (ASX: A2M) share price has fallen around 50% in 2021. Does that now make it a cheap opportunity?

Before the second half of 2020, A2 Milk was a market darling. When looking at the performance over the last five years, it still shows a rise of 171%.

The business has gone through a lot of pain. Even now, the business is still seeing difficulties as it tries to beat previous sales.

What’s the latest for the A2 Milk share price?

A2 Milk recently gave a trading update on 27 October 2021 for its performance so far in FY22.

English label infant formula sales in the first quarter were down compared to the first quarter of FY21, but were significantly up on the fourth quarter of FY21, which was “constrained” to reduce channel inventory levels.

A2 Milk said that its English label infant formula sales are expected to be down in the first half of FY22 but ahead of expectations.

Chinese label infant formula sales in the first quarter of FY22 have been constrained to reduce channel inventory levels further with sales “significantly down” on both the first and last quarters of FY21. Distributor offtake and retailer sales were up double digits year on year, but lower than expected. Chinese label infant formula sales are now expected to be “significantly down” in the first half of FY22.

Infant formula tier 1 inventory levels are now at the required levels for both English and Chinese label.

ANZ fresh milk volume was up year on year in the first quarter, but sales were flat because of foreign currency movements.

US liquid milk volumes were down, mainly due to a reduction in ranging by a club channel customer. Distribution cost pressures continue.

Mataura Valley Milk (MVM), with its advanced nutritional processing plant, has seen reduced demand and active steps are being taken to secure additional volume.

What do analysts think of the A2 Milk share price?

Opinions are mixed on the business. Citi currently rates the business as a buy and thinks it’s valued at 30x FY23’s estimated earnings.

UBS is very optimistic. This broker rates it as a buy, with a price target of $10.20 – that’s around 70% higher than today. It’s expecting a good recovery in the next few years. UBS puts the A2 Milk share price at 23x FY23’s estimated earnings.

The brokers at Macquarie Group Ltd (ASX: MQG) noted that A2 Milk has an ambition to grow sales to over NZ$2 billion and “improve margins”. The business is targeting an earnings before interest, tax, depreciation and amortisation (EBITDA) margin that’s “probably in the teens” in the medium-term due to market conditions, investment and innovation. The medium-to-long-term margin target is “low to mid 20s” subject to a recovery stronger than the market is expecting, English label channel growth and market share gains.

Macquarie thinks the margin outlook isn’t compelling and that there are still risks from here. Macquarie rates A2 Milk as a sell, with a price target of just $5.20.

The post Down 50% in 2021, is the A2 Milk share price a cheap buy? appeared first on The Motley Fool Australia.

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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 A2 Milk. 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.

What happened

Three leading altcoins, Tezos (CRYPTO: XTZ), Algorand (CRYPTO: ALGO), and Polkadot (CRYPTO: DOT), were among the biggest winners in the crypto markets today.

As of 1 p.m. ET, Tezos had appreciated 17.4%, while Algorand shot 11% higher and Polkadot ascended 11.3%.

So what

Today, most large-cap cryptocurrencies are up substantially, along with risk assets such as growth stocks, as investors debate the seriousness of the omicron variant of the coronavirus. Capital appears to be flowing heavily into risk assets today, with digital assets seeing positive flows in this regard.

Tezos, a self-amending blockchain that is best known for its established role in the security token space, is among the biggest winners in the altcoin space today. Investors appear to finally be factoring in a catalyst from last Friday. Indeed, we saw Black Friday sales take hold in the crypto space, amid concerns relating to the omicron variant materializing after Thanksgiving. However, a piece of news that was seemingly overshadowed on Friday — that music non-fungible tokens (NFTs), including those from a member of Linkin Park, will be launched on the Tezos network — has provided another catalyst for investors bullish on what Tezos has to offer.

At least part of today’s rally in Algorand appears to be tied to some significant venture capital interest in this cryptocurrency. News that a former Citi banker has added Algorand as its first partner for its $1.5 billion fund has sent this token higher. This notable pick from a high-profile investor, and bullish commentary around Algorand representing a “paradigm shift” in the crypto world, has investors excited.

Polkadot appears to be moving alongside broader crypto markets. However, some have suggested Polkadot’s parachain auctions, tied to various rising metaverse-themed cryptos, could be driving the returns investors are seeing with Polkadot.

Now what

Each of these three altcoins are unique in the utility they offer end users. However, it’s clear that these three altcoins are ones with significant momentum today.

These tokens have each erased losses from this weekend, and appear to be resuming a positive trend. For long-term investors looking for altcoins with support right now, Tezos, Algorand and Polkadot look strong.

Of course, market-related headwinds could materialize, should investors turn bearish on risk assets once again. There remains a significant amount of uncertainty around this new coronavirus variant. Accordingly, capital flows into digital assets remain uncertain. 

That said, these three tokens appear to be top of mind for investors looking to buy the dip today. 

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

The post 3 altcoins aking Parabolic Moves Higher Today appeared first on The Motley Fool Australia.

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Chris MacDonald owns shares of Algorand and Tezos. Citigroup is an advertising partner of The Ascent, a Motley Fool company. The Motley Fool Australia’s parent company Motley Fool Holdings Inc owns shares of and recommends Tezos. 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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