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The Gentrack Group Ltd (ASX: GTK) share price is out of the blocks and is now trading 7.6% higher at $1.84. Gentrack is catching bids today after the provider of software solutions for utilities and airports released its FY21 results.

Here are the key takeouts from Gentrack’s results for the full-year to 30 September 2021.

Gentrack share price gains as EBITDA beats guidance

The highlights from Gentrack’s financial performance include:

• Revenue of $105.7 million, up 5.2% on FY20 and in line with guidance;
• Earnings before interest, taxes, depreciation, and amortisation (EBITDA) came in ahead of guidance at $12.7 million, also a 5.0% gain on FY20;
• Statutory net profit after tax (NPAT) of $3.2m; and
• Net cash in a stronger position of $26.0 million, up 54.8% year on year.

What happened in FY21 for Gentrack?

The Gentrack share price is climbing today amid positive results. Revenue growth last year was driven by an 8.8% increase in Gentrack’s utilities business to $89 million. New customer wins and growth from existing customers offset previous years’ losses, according to the release.

However, utilities annual recurring revenue (ARR) was down 0.3%, after absorbing approximately $4 million in customer revenue losses from prior periods.

The company wasn’t immune to the effects of COVID-19. Its Veovo airport brand saw revenue slip from $18.7 million to $16.7 million in FY21 due to the impact of COVID on the aviation industry.

Yet, despite the down-step, it still remained profitable and ARR was up 7.7% for the division.

Underlying group EBITDA of $12.7m came in ahead of guidance management issued earlier in 2021, whereas costs were up 5.2% on FY20.

The release notes Gentrack continues to “experience a drag on revenue growth, from prior period losses and supplier failures in the UK”.

The number of business to consumer (B2C) supplier failures in the UK has accelerated in the last 3 months due to the global energy crisis, the company said. However, this does not seem to have had a negative impact on the Gentrack share price.

According to the company, the government has now enforced a price cap for the B2C segment. It correlates this cap with a total of “9 customer insolvencies occurring since the beginning of FY21, compared to 6 in total from FY17 through FY20”.

Gentrack anticipates there “may be some further supplier failures in the coming winter months after which [its] expectation is that the market will stabilise”. It notes there are allowances for these potential failures in its forecasts.

What’s the outlook for Gentrack?

The company today reconfirmed that FY22 group revenues are expected to be ahead of FY21 revenue of $105.7 million announced today.

Still, Gentrack is not providing earnings guidance for FY22. It also confirmed no changes to its FY24 targets provided on 16 June 2021.

In addition, the company notes in its “Strategic Growth Pillars 2 and 3” strategy that new engagements have been secured, and that these engagements and pipeline “will enable FY22 growth”.

In the past 12 months, the Gentrack share price has climbed more than 30%, rallying 27% this year to date. Its shares have gained around 4% in the past month and are also up 4% for the week (since last Thursday’s close).

The post Gentrack (ASX:GTK) share price leaps 8% on EBITDA surprise appeared first on The Motley Fool Australia.

More reading

• Kogan (ASX:KGN) share price higher on trading update and 5-year growth plan
• What is the difference between buying Square and Afterpay (ASX:APT) shares?
• Straker Translations (ASX:STG) share price leaps 7% on record revenue results
• Leading broker upgrades Webjet (ASX:WEB) shares to a buy rating
• Here’s why the Nufarm (ASX:NUF) share price is falling today

The author 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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The Kogan.com Ltd (ASX: KGN) share price is pushing higher on Thursday afternoon.

At the time of writing, the ecommerce company’s shares are up 3% to $9.14.

Why is the Kogan share price pushing higher?

Investors have been bidding the Kogan share price higher this afternoon following the release of its annual general meeting presentation.

That presentation included an update on its performance in FY 2022 and its aspirations for the next five years.

And judging by the Kogan share price reaction, investors liked what they saw.

How is Kogan performing?

According to the release, Kogan has delivered sales growth during the first four months of FY 2022.

Kogan’s Founder and CEO, Ruslan Kogan, commented: “Based on unaudited management accounts, we are proud to have delivered another period of top line growth.”

Another positive is the work the company has done to tackle its inventory issues. Mr Kogan revealed that it has right-sized its inventory levels since the end of FY 2021 and brought warehousing costs down.

At the same time, Kogan has continued to strategically invest for long-term growth through expanding marketing activity to grow the Kogan First member base. The Chief Executive is confident this will have long-term benefits for the company.

In addition, the Kogan Marketplace and Kogan First offerings have performed strongly. Mr Kogan believes this leaves the company well placed to drive growing sales through the key Christmas trading period of November and December.

Five-year targets

Also potentially giving the Kogan share price a boost today is the unveiling of the company’s five-year aspirational growth targets.

Ruslan Kogan commented: “When we listed the Company, we had just over $200m of Gross Sales, and in five years we have managed to grow to more than $1 Billion in Gross Sales. Five years on, and taking a moment to look forward across our next five year plan – we aim to achieve $3 Billion in annual Gross Sales and 1,000,000 Kogan First Subscribers by FY26.”

“I believe we can do this by continuing to re-invest in our customers. Ensuring that our customers get the best deals, on a wide range of products, delivered quickly and efficiently. The trust and confidence we build with our customers will have customers coming back to our platform time and time again,” he added.

The post Kogan (ASX:KGN) share price higher on trading update and 5-year growth plan appeared first on The Motley Fool Australia.

More reading

• ASX retail shares in focus as CBA forecasts bumper Black Friday weekend
• 5 things to watch on the ASX 200 on Thursday
• Kogan shares or Temple & Webster? This expert has their say
• What are Kogan (ASX:KGN) shares really worth? Here’s what Scott Phillips says
• 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 shares of and has recommended Kogan.com ltd. The Motley Fool Australia owns shares of 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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It remains one of the biggest investing stories of the year in 2021 so far. Afterpay Ltd (ASX: APT), the homegrown buy now, pay later (BNPL) pioneer, is to be acquired in full by the US payments giant Square Inc (NYSE: SQ).

When this news first broke back in August, it caused quite a storm. Not only were investors excited that Afterpay, a company that had become the hottest of ASX growth shares over the past few years, would be getting bought out. But at a rough cost of $39 billion (when the deal was announced), this would be the largest acquisition in Australian corporate history.

Afterpay and Square shares: what’s the difference now?

This takeover deal is an all-scrip one. That means that it will be conducted through the issuance of new Square shares. No cash is likely to physically change hands. Under the deal, Afterpay shareholders are set to receive 0.375 shares of Square for every Afterpay share owned. So if this deal goes ahead (which looks likely seeing as Square and Afterpay’s management are both recommending so), Afterpay shareholders will become Square shareholders.

So that begs the question, what is the actual difference between buying Afterpay or Square shares today?

Well, to answer that, let’s first look at what this deal values an Afterpay share at. So Square closed at a share price of US$215.47 this morning (our time). Thus, if this transaction were to be completed right now, Afterpay shareholders would receive the equivalent of roughly $112.19 (worth 0.375 of a Square share) for every Afterpay share owned. That includes the impact of the current exchange rate.

At the time of writing, Afterpay shares are trading at a share price of $110.18. That’s up 2.7% for the day so far. You might notice a bit of a gap there. And that is the main difference between buying Afterpay shares and Square shares night now. Yes, it looks like it’s a better deal to just buy Square shares. You would get a better price for the same investment. That’s assuming the deal goes ahead without a hitch when it is scheduled to “in the first quarter of 2022”.

Buy now, get Square shares later?

But the market knows that ‘it ain’t over till it’s over’, and thus seems to be still assigning a small discount to Afterpay shares as a result.

If the deal does go ahead as planned, existing Afterpay shareholders will either be able to receive the US-based Square stock that we’re talking about today. But Square has also said it will set up a CHESS Depository Interest (CDI) for Square on the ASX. That means that shareholders will be able to choose to get these Afterpay CDIs instead of the US-listed Square shares. This also means that all ASX investors will be able to buy Square shares on our own market.

So this all hinges on the Square acquisition of Afterpay going through. Once that happens, investors will only have Square to buy, and no Afterpay. Well, not quite – they will be one and the same. Now we just have to wait and see if that indeed comes to pass.

The post What is the difference between buying Square and Afterpay (ASX:APT) shares? appeared first on The Motley Fool Australia.

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• Why Afterpay, City Chic, EML, and Nickel Mines shares are pushing higher
• Afterpay (ASX:APT) share price shoots higher as Square vote looms

Motley Fool contributor Sebastian Bowen owns shares of Square. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO and Square. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. 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 Straker Translations Ltd (ASX: STG) share price is off to the races this morning, up 6.58% to $1.70 having earlier hit $1.72.

Below we take a look at the highlights from the technology-enabled translation services provider’s half-year financial results for the 6 months ending 30 September (1H FY22).

What half-year results were reported?

The Straker Translations share price is surging after the company reported a 57.6% lift in revenue to a record NZ$23.3 million (AU$22.2 million). Straker credited acquisitions and organic growth for adding NZ$17.0 million in annualised revenue compared to 1H FY21.

Gross profit reached NZ$13.1 million, up 73% from the NZ$7.5 million reported in the prior corresponding half year.

Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) fell from a profit of NZ$40,000 in the corresponding period to a loss of $1 million for the reported half-year.

The company pointed to the investments it made “to meet the needs of the rapidly scaling IBM business” along with an increased spend on its own sales and marketing for the loss.

Commenting on the results possibly driving the Straker Translations share price today, CEO Grant Straker said:

The transformational deals we struck in the second half of the prior financial year – the acquisition of the US-based Lingotek and the strategic translation contract win with IBM – set us up for continued strong growth…

Since the start of the year translation volumes through our platform have surged. IBM content is now running at more than 10 million words a month up from 1 million in January and is ahead of expectations. We are also delivering translations in 90 different languages up from just two in January and the 55 envisaged when we set this contract in motion.

The Straker Translations share price could also be getting a lift from its strong balance sheet. As at 30 September, the company has NZ$18.2 million cash on hand and no debt.

Straker maintained its guidance for the full 2022 financial year, forecasting revenue will exceed NZ$50 million, up by more than 60% from FY21. It expects gross margin will exceed the 53.4% it recorded in FY21.

Straker Translations share price snapshot

The Straker Translations share price is up 15% in 2021. That compares to a 12% year-to-date gain posted by the All Ordinaries Index (ASX: XAO).

Over the past month shares in Straker Translations have lost 0.6%.

The post Straker Translations (ASX:STG) share price leaps 7% on record revenue results appeared first on The Motley Fool Australia.

More reading

• What is the difference between buying Square and Afterpay (ASX:APT) shares?
• Leading broker upgrades Webjet (ASX:WEB) shares to a buy rating
• Here’s why the Nufarm (ASX:NUF) share price is falling today
• ASX 200 (ASX:XJO) midday update: EML rockets, NAB given ACCC green light
• EML (ASX:EML) share price rockets 17% on new programs green light from regulator

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 Straker Translations. 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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Webjet Limited (ASX: WEB) shares are out of form on Thursday.

In early afternoon trade, the online travel agent’s shares are down almost 2% to $5.57.

Where next for the Webjet share price?

While Webjet’s half year results fell a little short of the market’s expectations, one leading broker saw enough in them to upgrade its shares this morning.

According to a note out of Morgans, its analysts have upgraded Webjet’s shares to an add rating with an improved price target of $6.60.

Based on the current Webjet share price, this implies potential upside of 18.5% for its shares over the next 12 months.

What did Morgans say?

Morgans notes that COVID-19 continues to weigh heavily on the company’s performance. However, it was pleased to see improving trends in the third quarter and positive operating cashflow.

The broker commented: “WEB’s 1H22 result continued to be severely impacted by COVID. Importantly, it is now generating positive operating cashflow and it has plenty of liquidity. The 3Q22 is tracking ahead of the 2Q22 despite it being a seasonally slower period. Two of its three businesses are now profitable.”

Its analysts also highlighted that Webjet has the potential to be a substantially more profitable business in a post-COVID world.

Morgans said: “WEB is targeting to return to pre-COVID booking levels in the 2H23. Management continues to maintain its aspirational market share targets and wants to reduce the company’s cost base by 20% when it returns to scale. This means that WEB should be materially more profitable post COVID.”

Why buy now?

The broker notes that the Webjet share price has been weak this month and appears to see it as a buying opportunity for investors.

It said: “WEB’s share price has been weak this month as concerns around rising COVID cases and lockdowns in Europe have weighed on the sector. Following forecast changes, our blended valuation has risen to $16.60. With 16.4% upside to our new price target, we move to an Add rating.”

“Based on our forecasts, WEB is trading on an FY24 recovery year PE of 17.9x which is at a discount to its five-year average PE (pre-COVID) of 20.6x. The main near-term risk to our view is if more countries in Europe go into lockdown, given this will slow down travel demand,” the broker concludes.

The post Leading broker upgrades Webjet (ASX:WEB) shares to a buy rating appeared first on The Motley Fool Australia.

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• Webjet (ASX:WEB) share price on watch after reporting huge first half growth
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• Are Webjet (ASX:WEB) shares still worth buying with travel opening up?
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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 Webjet 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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The Nufarm Ltd (ASX: NUF) share price is edging lower on Thursday morning. This comes as shares in the agricultural chemicals company are trading ex-dividend.

At the time of writing, Nufarm shares are down 1.36% to $4.70. It’s worth noting that despite shedding today, its shares have pushed around 4% higher in the past month.

Why are Nufarm shares falling today? 

With the company’s full-year results released last week, investors are eyeing Nufarm shares as they go ex-dividend today.

Typically, one business day before the record date — the ex-dividend date — is when investors must have purchased shares. If the investor does not buy Nufarm shares before this date, the dividend will go to the seller.

Historically, when a company reaches its ex-dividend day, its shares tend to fall in proportion to the dividend paid out. This is because investors tend to sell off the company’s shares after securing the dividend and could be a reason why the Nufarm share price is edging lower today.

What does this mean for Nufarm shareholders?

For those eligible for Nufarm’s final dividend, shareholders will receive a payment of 4 cents per share on 17 December. The dividend is not franked, which means investors will miss on the imputed tax credits from this.

The dividend reinvestment plan (DRP) will be made available to shareholders for the final dividend. The issue price will be calculated on the volume-weighted average price over the 10-day period commencing on 22 November. To opt in, the last election date in the DRP is on Monday 29 November.

This is the first time Nufarm has paid a dividend since 2018. The board previously declared a final dividend of 6 cents per share. Together, with its interim dividend of 5 cents apiece, this translated to a full-year dividend of 11 cents for 2018.

The company went through a tough time over the last few years, impacted by supply chain headwinds and weak agriculture conditions. Reduced earnings in Europe, its seed technologies business, and North America offset growth in Australia and New Zealand, and Asia.

Nonetheless, management turned the company around, focusing on improving revenues, margins, and cash generation. Improved seasonal conditions, soft commodity prices, and a tight supply drove a significant uplift in earnings.

About the Nufarm share price

Over the last 12 months, the Nufarm share price has gained around 10%, with year-to-date up around 14%. The company’s share price reached a 52-week high of $5.60 in April, before treading lower.

Nufarm has a market capitalisation of roughly $1.7 billion, with approximately 379 million shares on its books.

The post Here’s why the Nufarm (ASX:NUF) share price is falling today 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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At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) has fought back from a mid-morning decline and trading slightly higher. The benchmark index is currently up 0.1% to 7,408.8 points.

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

NAB’s Citi acquisition not opposed by ACCC

The National Australia Bank Ltd (ASX: NAB) share price is falling on Thursday despite being given a boost in its quest to acquire the Australian consumer banking operations of Citi. This morning the ACCC advised that it will not oppose the proposed acquisition after a review found the transaction would not substantially lessen competition.

EML Payments shares rocket

The EML Payments Ltd (ASX: EML) share price is rocketing higher today following an update on its dealings with the Central Bank of Ireland. According to the release, the central bank has taken action against EML’s Irish regulated subsidiary, PFS Card Services. However, the action is far less severe than the market was expecting. This is a big positive given how EML runs its European operations through this business. There were concerns it could lose its licence and a big chunk of its revenue.

Fisher & Paykel Healthcare half year results

The Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price is pushing higher today after the release of its half year results. For the six months ended 30 September, the medical device company posted operating revenue of NZ$900 million and net profit after tax of NZ$226.9 million. This represents a 1% and 2% decline, respectively, over the prior corresponding period. However, it is worth recalling that the same period last year was boosted materially by COVID-19 demand for respiratory devices.

Best and worst ASX 200 performers

The best performers on the ASX 200 on Thursday has been the EML Payments share price by some distance. It is up 22% at the time of writing following its Ireland update. The worst performer has been the Collins Foods Ltd (ASX: CKF) share price with a 3% decline on no news.

The post ASX 200 (ASX:XJO) midday update: EML rockets, NAB given ACCC green light appeared first on The Motley Fool Australia.

More reading

• EML (ASX:EML) share price rockets 17% on new programs green light from regulator
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• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX shares today
• These 3 ASX 200 shares are topping the volume charts on Wednesday

Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended EML Payments. The Motley Fool Australia owns shares of and has recommended EML Payments. The Motley Fool Australia has recommended Collins Foods 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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The EML Payments Ltd (ASX: EML) share price is soaring on Thursday morning.

In morning trade, the payments company’s shares are up 17.8% to $3.24. Although, it remains a distant 45% away from its 52-week high of $5.89.

Let’s take a look at what is creating excitement among EML investors today.

Thumbs up for Ireland operations sends EML share price flying

In its latest update, EML Payments has informed investors of recent dialogue from the Central Bank of Ireland (CBI). This follows months of uncertainty for the company following the initiation of an investigation after CBI found regulatory concerns within the PFS Card Services (Ireland) Limited (PCSIL) business.

According to the release, CBI has advised it will allow PCSIL to sign new customers and launch new programs whilst staying within the material growth restrictions. Positively, PCSIL expects it can meet the obligations. This removes any previous concern of EML’s subsidiary losing the ability to continue expansion.

Additionally, broad-based reductions in limit controls on programs will not be imposed. This is also beneficial for the value of transactions processed by the company. Furthermore, CBI will continue to work with PCSIL to agree on appropriate limits under its risk management and controls framework.

Lastly, the central bank intends to impose a material growth limitation over PCSIL’s total payment volumes. This will be in place for 12 months with the potential of it being removed earlier following third-party verification of PCSIL implementing its remediation plan effectively.

The news has been well received by the market today, with EML Payments’ share price breaking above $3 again.

What’s next?

Following this, EML’s PCSIL intends to submit documentation to work with CBI on growth limits. The Ireland subsidiary intends to do this by 30 November 2021.

Notably, the update also indicated PCSIL’s remediation plan is on track. The card services business has been high volume-low yielding programs to comply with a material growth restriction.

Despite today’s recovery, the EML Payments share price is still down 22% year-to-date.

The post EML (ASX:EML) share price rockets 17% on new programs green light from regulator appeared first on The Motley Fool Australia.

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• Are these 2 top ASX growth shares buys?
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Motley Fool contributor Mitchell Lawler owns shares of EML Payments. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended EML Payments. The Motley Fool Australia owns shares of and has recommended EML Payments. 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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Analysis from Commonwealth Bank of Australia (ASX: CBA) suggests that ASX retail shares may be about to enjoy an important bump in sales for Black Friday.

CBA has been looking at its merchant data over the four days from Black Friday to Cyber Monday in previous years to get a sense of how much sales might grow.

In 2020, spending over the four days (27 November to 30 November) increased by 14% compared to the prior week.

It was a similar story in 2019. In the four days of Black Friday sales (29 November to 2 December), sales also increased by 14% compared to the same four days of the prior week.

It’s true that Black Friday sales in both 2019 and 2020 saw a bump compared to normal trading, but CBA also said it was interesting to note that overall spending increased by 10% in 2020’s Black Friday period compared to the 2019 Black Friday event.

This might suggest good news for ASX retail shares.

Does this mean 2021 Black Friday sales are going to be strong?

Head of Consumer and Diversified Industries in CBA’s Business Banking division, Jerry Macey thinks that the upcoming Black Friday sales could be good for both customers and businesses:

The increase in sales in 2020 in comparison to 2019 bodes well for the Black Friday sales this coming weekend. Shoppers across the country are increasingly taking advantage of the recent move towards pre-Christmas discounting and we would expect this trend to continue this year.

Businesses are viewing the Black Friday and Cyber Monday weekend period as an opportunity for them to grow their customer base as spending patterns and behaviours change. It also presents an opportunity for retailers to bring forward sales, optimise their inventory and enhance performance for the year if they manage these sales events well.

CommBank research shows that the majority of customers are keen to take advantage of discounted products and services. Those CBA shopping insights show 82% of Aussies will try to “make the most of any discount or rewards available to them”, whilst 80% said they are “encouraged to shop again at those retailers offering discounts or rewards.”

Which ASX retail shares could see a bump of sales?

There are plenty of retail shares on the ASX like Wesfarmers Ltd (ASX: WES), Harvey Norman Holdings Limited (ASX: HVN) and Adairs Ltd (ASX: ADH).

CBA said that judging by spending trends of previous years, the big winners this year are expected to be clothing and cosmetic retailers (which saw growth of 34% and 46% respectively). In those spaces are ASX shares like Premier Investments Limited (ASX: PMV), City Chic Collective Ltd (ASX: CCX), Adore Beauty Group Ltd (ASX: ABY) and Australian Pharmaceutical Industries Ltd (ASX: API).

Furniture and electronic retailers saw sales growth of 33% and 26% respectively in 2020. Temple & Webster Group Ltd (ASX: TPW) and Nick Scali Limited (ASX: NCK) are two of the largest furniture retailers whilst Kogan.com Ltd (ASX: KGN) and JB Hi-Fi Limited (ASX: JBH) are two large players in the electronics retailing sector.

New CBA shopping offering

CBA is also spruiking its new shopping offering for consumers which includes the newly launched deal discovery app, Cheddar, investment in gift card disrupter, Karta, its partnership with online shopping hub, Little Birdie, and its cashback program, CommBank Rewards.

The post ASX retail shares in focus as CBA forecasts bumper Black Friday weekend appeared first on The Motley Fool Australia.

More reading

• Here’s why the Adairs (ASX:ADH) share price is rocketing 8% this morning
• Analysts rate these 2 ASX dividend shares as buys
• 5 things to watch on the ASX 200 on Thursday
• 3 top ASX shares named as buys
• 2 ASX growth shares to buy this month: analysts

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 shares of and has recommended ADAIRS FPO, Kogan.com ltd, and Temple & Webster Group Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Adore Beauty Group Limited. The Motley Fool Australia owns shares of and has recommended ADAIRS FPO, Harvey Norman Holdings Ltd., Kogan.com ltd, and Wesfarmers Limited. The Motley Fool Australia has recommended Adore Beauty Group Limited, Premier Investments Limited, and Temple & Webster Group 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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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

Today, investors in Avalanche (CRYPTO: AVAX) are seeing some pretty consistent declines. Over the past 24 hours, the AVAX token had dropped more than 8% as of 1:30 p.m. ET on Wednesday. 

Today’s move is a continuation of yesterday’s decline, which has seen AVAX drop from its high of more than $146 per token on Monday, to around $117 at the time of this writing.

This decline comes on the heels of a widespread crypto market sell-off that many are linking to today’s news that India is moving forward with a bill to officially ban cryptocurrencies in that key market.

So what

Avalanche has been one of the fastest-rising cryptocurrencies of late. On Monday, this token took the No. 10 spot in the cryptocurrency rankings, before falling to 11th today after its latest declines.

The key catalyst for Avalanche in hitting new all-time highs earlier this week was a high-profile partnership with consulting firm Deloitte. It appears Deloitte is fond of Avalanche’s underlying blockchain technology, and has sought it out as its partner of choice to support its work with the Federal Emergency Management Agency (FEMA).

What Deloitte is looking to do is find a way to aggregate and validate FEMA’s claims. Using blockchain technology, this is the latest value-added vertical that investors have pointed to as validation that blockchain creates real-world utility outside of being a decentralized means of transferring money.

Now what

This is certainly a big-name partnership. Avalanche’s profile in the crypto community is rightly elevated by this deal. Accordingly, there’s a tremendous amount of excitement building around Avalanche and the AVAX token right now.

Today’s decline appears to be a more-technical, market-driven move. Thus, those looking for exposure to Avalanche have what appears to be a juicy dip to buy here.

Ultimately, time will tell if this dip was one worth buying. But it sure looks attractive to those who think they might have missed the boat on Avalanche this past week. 

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

The post Avalanche crypto just dipped 8%. Is it a buy? appeared first on The Motley Fool Australia.

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Chris MacDonald 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.

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

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