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The Buxton Resources Limited (ASX: BUX) share price is one of the best performers on the ASX today. This comes after the company announced an update regarding its Copper Wolf Copper Project in Arizona, United States.

At the close of trade, Buxton Resources shares finished up 52.17% to 10.5 cents. That’s after topping out at 13 cents, up a whopping 88%, just before midday.

What did Buxton Resources announce?

In its release Buxton Resources advised it has completed its compilation and verification of data for the Copper Wolf project.

As such, the company revealed that the site hosts large Laramide porphyry deposits extending over 4 x 1.5-kilometre areas. Historical resource estimates include a JORC (2007) inferred resource for a portion of the zone reported by Liontown Resources Limited (ASX: LTR):

• 108 Mt at 0.8% Copper (Cu) and 0.03% Molybdenum (Mo) for 864,000 tonne of contained copper metal plus 32,400 tonne of molybdenum metal
• 40.3 Mt at 1.4% Cu and 0.035% Mo to 564,200 tonne of contained copper metal plus 14,000 tonne of molybdenum metal

However, giving rise to the Buxton Resources share price was that the company’s analysis was based on the historical estimate. It noted that about 74% of the above results lies within its tenure.

The project was previously hampered by a post mineral volcanic cover sequence. This places the mineralisation at a depth of between 400 metres to 550 metres below ground level.

Nonetheless, Buxton Resources highlighted that the project displays several positive attributes. They include excellent grades, further exploration potential, and low holding costs of around $20,000 per annum.

About the Buxton Resources share price

It’s been a solid year for Buxton Resources shares, achieving gains of almost 70% for 2021. However, when zooming out, its shares have travelled close to 17% higher in the last 12 months. The company’s shares reached a 52-week high of 15.5 cents in July, before profit-takers swooped in.

Based on today’s price, Buxton Resources commands a market capitalisation of roughly $9.38 million, with approximately 136 million shares outstanding.

The post Buxton Resources (ASX:BUX) share price explodes 52% on copper update appeared first on The Motley Fool Australia.

More reading

• Why did the Tyro (ASX:TYR) share price lift on Monday?
• How do ASX share prices typically perform in November?
• Woodside share price (ASX:WPL) lifts amid plans for major WA hydrogen project
• Why is the Deep Yellow (ASX:DYL) share price gaining 5% on Monday?
• Why has the DigitalX (ASX:DCC) share price rallied 57% in a month?

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 Tyro Payments Ltd (ASX: TYR) share price finished in the green today after the company released its latest weekly trading update.

It seems the market reacted favourably to today’s update. The Tyro share price closed at $4.03, 3.33% higher than its previous close.

Let’s take a closer look at the latest news from the financial technology company.

Tyro share price lifts on weekly update

The Tyro share price gained on news its total payment value significantly increased week-on-week last week.

Over the week ended 22 October, Tyro processed $621 million worth of payments. The same week last year saw just $437 million put through Tyro’s systems.

For additional comparison, the fortnight prior to last week last saw Tyro process between $512 million and $575 million of transactions each week.

Interestingly, the boosted amounts correspond with the lifting of Victoria’s lockdown and the second week of freedom for New South Wales residents.

Additionally, the company has now processed around $8.3 billion of transactions in financial year 2022. By this time in financial year 2021, it had processed approximately $6.7 billion worth.

No doubt, Tyro shareholders will be breathing a sigh of relief to see the company’s share price closing higher today. Particularly, as last week was a rollercoaster for Tyro’s stock.

On Wednesday, Tyro announced proceedings against it had been filed in the Federal Court of Australia. The company is facing allegations of misleading and deceptive conduct, among other things.

Tyro believes the proceedings are due to an outage that affected many of its terminals in January. It has already put in place a remediation program to support merchants affected by the outage.

Following the news the company will be going to court, the Tyro share price fell 3.4%.

The post Why did the Tyro (ASX:TYR) share price lift on Monday? appeared first on The Motley Fool Australia.

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• Why Beach, Flight Centre, Tyro, and Whitehaven Coal are dropping
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• ASX 200 tech shares set to slide as Nasdaq plunges 2%

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 shares of and has recommended Tyro Payments. The Motley Fool Australia has recommended Tyro 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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As the end of October draws near and November approaches, investors might be pondering: how do ASX share prices typically perform in the eleventh month of the year? To avoid a thesis-long analysis, this article keeps the assessment narrowed to the S&P/ASX 200 Index (ASX: XJO).

Often the best approach to investing is simply applying dollar-cost averaging (DCA) and investing regularly regardless of the prevailing conditions. However, historical data can sometimes help us understand reoccurring themes. An example is the old “sell in May and go away” thematic.

How does November compare?

To establish what November typically looks like, we reviewed the historical monthly data of the Aussie benchmark index since 1970. While there are many ways to interpret the data, we have opted for the ‘average monthly return’ analysis.

Taking the average returns of each month across the past 51 years indicates that historically the best returns occur during April — how Foolish!

Following on from there, we can see the prevalence of the ASX 200 Christmas rally, with December being the second-best performing month on average for ASX share prices.

On average, November has been the fifth-highest returning month of the year. However, considering November has, in the past, been the beginning of multiple months of positive returns, investors might consider it a prime point of entry into the market.

What are the best months for ASX share prices in history?

We use the term ‘in history’ loosely, as 1970 is as far as our ASX 200 dates back to. Regardless, our findings indicate that the best month on record was indeed… November. In fact, we only need to look back 12 months to see the greatest monthly returns on record.

It appears 2020 was the year for setting records with April of the same year taking out the second spot.

Finally, it is worth noting that although October is tied with September as the worst month on average for ASX 200 share prices, October 1993 comes in as the fourth-highest monthly performance in history. This simply illustrates the unpredictable nature of the stock market and ASX share prices.

Ultimately, investing for the long term helps alleviate this short term unpredictability.

The post How do ASX share prices typically perform in November? appeared first on The Motley Fool Australia.

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• ASX 200 (ASX:XJO) midday update: Telstra’s acquisition, Mineral Resources jumps
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• These were the best performing ASX 200 shares last week

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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The Woodside Petroleum Limited (ASX: WPL) share price is edging higher today, currently trading up around 3.5% at $24.05.

Woodside shares have started the week’s trading in the green, after giving away over 8% last week as the hydrocarbons producer released its Q3 update.

Now reports have surfaced the company is set to invest more than $1 billion to build a hydrogen and ammonia production facility in WA.

New carbon-neutral facility announced

News of the facility surfaced from the West Australian State Government’s camp, where it revealed the carbon-neutral hydrogen and ammonia production facility will be built.

According to the Western Australian Premier, Mark McGowan, the “first phase of the facility, dubbed H2Perth, will include more than $1 billion in capital expenditure”.

At full capacity, Woodside claims the product could produce up to 1,500 tonnes per day of hydrogen for export, a total of 547,000 tonnes each year.

It is to be built on “approximately 130 hectares of vacant industrial land to be leased from the State in the Kwinana Strategic Industrial Area and Rockingham Industry Zone”

Construction has been penciled in to start in 2024, but is still subject to several regulatory and commercial approvals.

It is ancitipated to eventually operate ‘electrolysers’ with a total capacity of more than 3GW. This is a good chunk of the current entire capacity of WA’s southwest interconnected system of 5.8GW.

The aims of the project are quite simple on both parties end – produce low cost, low carbon hydrogen-based energy for consumers and support renewable power generation in WA.

Hydrogen and ammonia from H2Perth would be produced with a zero-emissions focus, as hydrogen “produces zero-emissions when it is used as fuel”.

Woodside also aims to “support State initiatives to stimulate local hydrogen demand, particularly in the transport sector and among local heavy industry”.

Speaking on the announcement, Woodside CEO, Meg O’Neill espoused the project would be a ‘landmark’ project for both the company and the state:

Woodside has a proud track record as an Australian oil and gas producer and our LNG exports will continue helping Asia to reliably meet its energy needs while reducing greenhouse gas emissions for decades to come. Now, we intend to use our skills and financial strength to add new energy products and lower-carbon technologies and services to our portfolio, which can be scaled to meet customer demand.

Expanding on the commercial and external growth opportunities, O’Neill added:

Building in this location is not just about hydrogen. H2Perth will also facilitate substantial growth of renewables in Western Australia by providing to the grid a flexible and stabilising load that benefits uptake of intermittent renewable electricity by households and local industry. We will also be supporting local manufacturing jobs and opportunities.

Woodside Petroleum share price snapshot

It’s been a difficult year to date for the Woodside Petroleum share price, having posted a return of just 6% since January 1.

Despite this, it has gained 30% in the last 12 months, ahead of the S&P/ASX 200 index (ASX: XJO)’s return of around 21% in that time.

The post Woodside share (ASX:WPL) price lifts amid plans for major WA hydrogen project appeared first on The Motley Fool Australia.

More reading

• Big banks’ forecast could mean extended tailwinds for ASX 200 energy shares
• 5 things to watch on the ASX 200 on Monday
• The Woodside (ASX:WPL) share price fell 8% this week. But there is some good news
• 5 things to watch on the ASX 200 on Friday
• ASX 200 energy shares take a breather, broker sees “lot of upside risk” for oil

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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The Deep Yellow Limited (ASX: DYL) share price is on the move during afternoon trade. This follows other uranium shares, which are also heating up the S&P/ASX 200 Energy Index (ASX: XEJ).

At the time of writing, Deep Yellow shares are rebounding from Friday’s losses to $1.095, up 4.78%.

What did Deep Yellow recently announce?

Investors are driving up Deep Yellow shares after the company provided an update to the ASX regarding a non-core asset.

On Friday, Deep Yellow announced an option agreement for the sale of shares in Shiyela Iron Pty Ltd. The latter holds the Shiyela Iron Ore Project, located in Namibia, around 45 kilometres from Walvis Bay deep-sea port.

Deep Yellow’s subsidiaries, Reptile Uranium Namibia and Oponona Investments, have a 95% and 5% interest in Shiyela Iron, respectively.

As such, both Reptile and Oponona entered into an exclusivity agreement with Namibian registered company HyIron Green Technologies.

Working together with German technology leader CO2Grab, HyIron aims to utilise its proprietary technology to produce green pig iron. The company has set its eyes on boutique steel manufacturers in Germany.

Under the agreement, HyIron will have a 12-month option to undertake due diligence along with a number of wind, water and solar studies. HyIron will pay a fee of US$100,000 for the exclusivity period, with an option to extend a further 6 months for US$50,000.

At the end of this time, HyIron will have the right to acquire all the shares in Shiyela Iron for US$5 million. However, this is provided that the price of iron ore at 62% Fe fines is trading above US$250 a tonne. If the spot price is fetching below US$100 a tonne, the purchase price will be lowered to US$3 million.

Deep Yellow share price snapshot

Over the last 12 months, Deep Yellow shares have surged more than 240%, with year-to-date gains of 130%. It’s worth noting, the company’s shares reached a multi-year high of $1.37 cents in mid-September.

Based on today’s prices, Deep Yellow commands a market capitalisation of roughly $364.09 million, with 331.7 million shares on issue.

The post Why is the Deep Yellow (ASX:DYL) share price gaining 5% on Monday? appeared first on The Motley Fool Australia.

More reading

• Here’s why the Deep Yellow (ASX:DYL) share price is up 5% on Tuesday
• Why ASX uranium shares are in focus on Tuesday
• ASX uranium shares are surging this week. Here’s why
• Here’s why ASX uranium shares are booming double digits across the board on Wednesday
• Why ASX uranium shares are bouncing back on Friday

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 DigitalX Ltd (ASX: DCC) share price is certainly enjoying a strong start to the trading week this Monday. At the time of writing, DigitalX shares are up a very pleasing 10%, rising from 10 cents to 11 cents a share. In contrast, the S&P/ASX 200 Index (ASX: XJO) is also up, but by a far tamer 0.34% so far this Monday.

But that’s not where the party ends for DigitalX shareholders. Over the past month, this company has risen from 7 cents a share to today’s 11 cents. That’s a rise of an incredible 57% in just four weeks or so. On 1 October, the company hit 6 cents a share. That means its gains from that date stand at an even more impressive 83%.

So what’s gone so right for DigitalX in recent times?

Bitcoin boom lifts DigitalX share price?

To answer that, let’s rehash what this company actually does. So DigitalX is a fund manager on the ASX, and one of the only ones that invests directly in Bitcoin (CYYPTO: BTC) and other cryptocurrencies. It has two flagship funds.

The DigitalX Bitcoin Fund enables access to “titled and audited ownership” of Bitcoin through a “traditional unit trust”.

The DigitalX Digital Asset Fund invests in Bitcoin and other “liquid, large capitalisation digital assets with a combination of smart beta strategies and active investment selection”.

Both of these funds are only available to sophisticated/wholesale investors.

So it’s pretty clear the fortunes of this company are intertwined with Bitcoin and other cryptocurrencies. So it’s perhaps no surprise that DigitalX’s share price has boomed over the same period that Bitcoin has rallied an incredible 42.5% (in US dollar terms).

Pink sheets and impressive returns

The company’s latest asset exposure report (to 30 September) told us that it had $45.02 million worth of Bitcoin and other “digital assets” as of 30 September. That portfolio is probably worth a lot more today, seeing as Bitcoin and other cryptocurrencies have rallied so strongly over past few weeks. The company also stated that its 12-month returns now stand at 266.82% for the Bitcoin Fund. And 463.86% for the Digital Asset Fund

These might be some reasons behind why the DigitalX share price has appreciated so enthusiastically over the past month.

Another recent development may also be helping. Back on 6 October, DigitalX announced that it is now trading on the OTCQB markets over in the US. That’s an upgrade from its old home on the ‘pink sheets’.

The OTCQB is an over-the-counter (OTC) share market in the US. But one home to less speculative investments than the bottom-tier pink sheets. The company estimates that this new OTC listing will give it “the opportunity to further build visibility, expand liquidity and further diversify its shareholder base in the US which has shown a deep understanding of blockchain and blockchain related companies…”.

This might have also given investors a sentiment boost over the DigitalX share price.

Whatever the true reasons behind this company’s stellar month, there will be a lot of happy shareholders out there. At the current DigitalX share price of 11 cents, this company has a market capitalisation of $81.36 million.

The post Why has the DigitalX (ASX:DCC) share price rallied 57% in a month? appeared first on The Motley Fool Australia.

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• Why cryptocurrencies are moving wildly today
• Could the Ethereum price track Bitcoin to new record highs?
• Why the Bitcoin (CRYPTO:BTC) price is rocketing to new, all-time highs

Motley Fool contributor Sebastian Bowen owns shares of Bitcoin. 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 S&P/ASX 200 Index (ASX: XJO) is in the green today, up 0.37% in late afternoon trading.

October is, so far, proving to be a better month for Aussie blue-chips than last month, with the index up 1.6% since the closing bell on 30 September.

But, despite the turnaround, the ASX 200 remains down 2.3% from its 13 August highs.

Inflation returns…and may be sticking around

The ASX 200 witnessed late August and September falls of more than 5.8% before the market started to claw back some losses. It mirrored similar falls in most global indices.

There was no single cause for the widespread share price retreats. But investor fears that inflation may be back to stay, rather than be transitory as many economists had forecast, saw bond yields spike. And growth stocks like technology companies took some of the biggest hits.

Growth stocks are broadly more vulnerable to any sustained uptick in inflation. That’s because rising interest rates required to keep inflation in check mean the present cost of money goes up. And growth stocks tend to be valued on revenue streams that may be years in the making yet.

Now, the jury’s still out on just how high inflation may get across developed nations — and how long it may last. But more analysts are saying soaring energy and material costs and crimped supply lines make it increasingly likely inflation isn’t going back to where it was pre-COVID. Let alone the deflationary period in the early post pandemic months.

According to Maple-Brown Abbott chief investment officer Garth Rossle (quoted by the Australian Financial Review), “Raw material prices are up and energy prices are up too, so I just don’t think inflation’s going back to where it was.”

So, what’s an inflation wary ASX 200 investor to do?

Two ASX 200 shares for an inflationary world

Andrew Mitchell, senior portfolio manager at Ophir Asset Management, echoes Rossle’s outlook, saying, “I don’t think there is any question now that consumer price inflation in many advanced economies is going to more persistent than most expected.”

With inflation concerns in mind, Mitchell recommended ASX 200 investors consider stocks with lower valuations:

Equity markets can usually handle higher inflation and bond yields as long as it’s incrementally higher – it’s the big spikes that it tends to freak out on. Investors worried about persistent inflation damaging their portfolio returns should turn to stocks with low valuations that are less affected by rate rises and those with pricing power that can pass on those higher costs on to consumers.

Mitchell named Seven Group Holdings Ltd (ASX: SVW) and Elders Ltd (ASX: ELD) as two ASX 200 shares Ophir holds that he believes will outperform in an inflationary world.

As quoted by the AFR, he said:

In our small- and mid-cap space, some that fit that bill are Seven Group (the conglomerate driven by its Caterpillar equipment and Coates Hire exposures) and Elders, the ag services business with exposures across wool, grain, seeds and fertiliser… Both trade well below a market multiple and do well during a cyclical upswing in demand.

How have these ASX 200 shares been performing?

Over the past 12 months, the Seven Group share price is up 2.86%. Elders’ share price has gained around 2% in that same time while the ASX 200 has gained 21%.

At the current share prices, Elders pays a 2.9% dividend yield, 20% franked, while Seven Group pays a 2.2% dividend yield, fully franked.

The post Two quality ASX 200 shares for an inflationary world: fundie appeared first on The Motley Fool Australia.

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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 Elders 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 Oil Search Ltd (ASX: OSH) share price has started the week strongly.

In afternoon trade, the energy producer’s shares are up 3.5% to $4.48.

This means Oil Search shares are now up a solid 19% in 2021.

Why is the Oil Search share price charging higher today?

The have been a couple of catalysts for the rise in the Oil Search share price today.

The first has been a rise in oil prices on Friday night, which has given the sector a lift.

In addition, a broker note out of Morgan Stanley this morning has given its shares a boost today.

According to the note, the broker has retained its equal-weight rating but lifted its price target by 22% to $5.50.

Based on the current Oil Search share price, this implies potential upside of almost 23% over the next 12 months. And if you include the broker’s 23.3 cents per share dividend forecast for FY 2022, the potential return increases to ~28%. Not bad for an equal-weight rating!

What is the broker saying?

The note reveals that Morgan Stanley has upgraded its earnings forecasts to reflect its belief that strong demand in Asia for LNG will drive prices higher over the long term. The broker now expects the long term LNG price to be almost a third higher than previously forecast at US$10 per Metric Million British Thermal Unit (MMBtu).

The broker commented: “We think Asia will consume significantly more natural gas in the early phases of the energy transition […] This will lead to higher LNG prices and better project return, improving investor sentiment towards these projects.”

This would be a big positive for Oil Search and could support solid earnings and dividend growth in the coming years (along with proposed merger partner Santos Ltd (ASX: STO)). As such, the Oil Search share price could be one to watch in the coming months.

The post Broker note sends Oil Search (ASX:OSH) share price charging higher appeared first on The Motley Fool Australia.

More reading

• Big banks’ forecast could mean extended tailwinds for ASX 200 energy shares
• ASX 200 energy shares take a breather, broker sees “lot of upside risk” for oil
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• This leading fund manager thinks these ASX shares might be buys
• Could the Oil Search (ASX:OSH) share price hit $5 by the end of 2021?

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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The Tabcorp Holdings Limited (ASX: TAH) share price has outperformed the S&P/ASX 200 Index (ASX: XJO) by a long shot over the last 12 months.

Since this time last year, the ASX 200 has gained 20.93%.

Meanwhile, the Tabcorp share price has soared 46.65%. It’s currently trading at $5.04.

So, what’s been driving the Tabcorp share price to perform better than most of its ASX 200 peers? Let’s take a look.

Why has the Tabcorp share price outperformed?

The last 12 months have seen the Tabcorp share price boosted numerous times. Interestingly, the company’s biggest daily gain came after it addressed media speculation on 6 November 2020.

Then, the company rebutted media reports that private equity firms and high-profile bookmaker Matthew Tripp were interested in acquiring Tabcorp.

Late on 5 November, The Australian reported a private equity consortium wished to purchase the then-struggling Tabcorp, valuing the business at around $9 billion. At the time, the company was reportedly worth $7.7 billion.

The publication also reported another group wanted to purchase Tabcorp’s wagering business.

However, Tabcorp hit back at the reports by simply stating, “Tabcorp is not aware of, and has not received, any proposal in respect of the company or its businesses”.

Despite the rumours being refuted, the Tabcorp share price shot 15.8% higher.

Then, on 2 February, the market heard more media speculation. This time, reports claimed a party was interested in purchasing Tabcorp’s wagering arm which is attached to its media business.

This time, Tabcorp responded positively to the rumours, saying, “Tabcorp confirms that it has received a number of unsolicited approaches and proposals in relation to a potential transaction involving Tabcorp’s Wagering and Media business”.

Once again, the company’s share price surged 8.7%.

Tabcorp did end up deciding to split its wagering and media segment from the rest of its business. However, it didn’t sell it.

As it stands, Tabcorp is planning to spin off its Lotteries and Keno segment and focus only on its wagering and media business next year.

The post The Tabcorp (ASX:TAH) share price has beaten the ASX 200 by 25% this last year appeared first on The Motley Fool Australia.

More reading

• Why BHP, Propel, Silver Lake, and Tabcorp shares are falling
• ASX 200 (ASX:XJO) midday update: BHP’s Q1 update, CSL’S R&D update
• Tabcorp (ASX:TAH) share price slides after trading, demerger update
• Why Macquarie tips the Tabcorp (ASX:TAH) share price to jump 22%

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 S&P/ASX 200 Index (ASX: XJO) has started the week positively and is on course to record a decent gain. In afternoon trade, the benchmark index is up 0.3% to 7,439.6 points.

Four ASX shares that have failed to follow the market’s lead today are listed below. Here’s why they are falling:

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is down 8.5% to 57 cents. This is despite there being no news out of the lithium developer. However, with its shares up over 250% in 2021 prior to today, this decline could have been driven by profit taking from some investors.

Firefinch Ltd (ASX: FFX)

The Firefinch share price is down 8.5% to 59.5 cents. This morning the gold and lithium explorer announced a share purchase plan aiming to raise $25 million at a discount of 58 cents per share. The funds will be used to ramp up activities at the Viper and N’Tiola satellites and the Morila Super Pit.

Smartgroup Corporation Ltd (ASX: SIQ)

The Smartgroup share price has crashed 11% to $8.32. Investors have been selling this fleet management and salary packaging company’s shares after takeover talks with the TPG Global and Potentia Capital consortium collapsed. The consortium had tabled a $10.35 per share offer but after a period of due diligence lowered its offer to $9.25 at the weekend. This was rejected by the Smartgroup Board.

Zip Co Ltd (ASX: Z1P)

The Zip share price is down over 2.5% to $6.78. This appears to have been driven by weakness in the tech sector following a poor end to the week on the tech-focused Nasdaq index. In addition, this morning UBS retained its sell rating and $5.40 price target on the company’s shares. It notes that BNPL surcharges may soon be allowed in Australia. The broker sees this as an incremental negative.

The post Why Core Lithium, Firefinch, Smartgroup, and Zip shares are falling appeared first on The Motley Fool Australia.

More reading

• Firefinch (ASX:FFX) share price sinks 7% amid $25m cap raise
• What do analysts think of the Zip (ASX:Z1P) share price following the rebrand?
• Smartgroup (ASX:SIQ) share price crashes 16% amid takeover collapse
• Afterpay (ASX:APT) and other BNPL shares in focus as RBA looks to rein in regulation
• Why Aussie Broadband, Core Lithium, Cardno, and Nuix are storming higher

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 ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended SMARTGROUP DEF SET. 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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