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The Nuix Ltd (ASX: NXL) share price is continuing its downward trend, despite the company having managed to stay relatively quiet.

At the time of writing, the software company’s shares are swapping hands for $2.47, down from $2.67 a week ago. That represents a 7.49% decline in value.

However, Nuix is no stranger to volatility and it’s also got a lot on its plate right now. Let’s take a look what Nuix has been up to lately.

What’s going on with the Nuix share price?

Perhaps ongoing and unfolding investigations into Nuix, its advisors, and its former directors are to blame for its share price flopping.

ASIC going after former CFO

Nuix’s former chief financial officer Stephen Doyle is being investigated by the Australian Securities and Investments Commission (ASIC).

ASIC believes Doyle and his brother engaged in insider trading in January and February of 2021.

Doyle is accused of warning his brother of Nuix’s February downgrade, giving his brother enough time to offload around 2 million shares.

The tip-off is said to have saved both brothers from losing $5.7 million when the Nuix share price tumbled 32% on the back of the downgrade.

Macquarie and Nuix subjects of ASIC investigation

Additionally, both Nuix and its major shareholder Macquarie Group Ltd (ASX: MQG) are reportedly facing an ASIC investigation into Nuix’s prospectus’ seemingly inflated financial forecasting.

Macquarie backed Nuix in its initial public offering (IPO) back in December 2020. The float reportedly made Macquarie’s pockets $524 million heavier.

Since then, after numerous profit downgrades, the Nuix share price has plummeted 68%.

A law firm reportedly told ASIC that Nuix’s prospectus was off 3 times. However, the watchdog failed to find anything suspicious about the company’s financial forecasting prior to it floating on the ASX.

ALP Senator Deborah O’Neill addressed ASIC’s alleged failings in Parliament last month, saying:

The failure of ASIC to appropriately regulate Nuix’s IPO has had catastrophic consequences for all investors except for Macquarie Bank, Nuix’s and Macquarie’s executives and offshore banks in tax-friendly Vanuatu and Switzerland.

Nuix share price snapshot

Despite being touted as the biggest IPO of 2020, the Nuix share price has been a major disappointment.  

It has dropped around 70% since it floated roughly 7 and a half months ago.

The company has a market capitalisation of around $796 million, with approximately 317 million shares outstanding.

The post Nuix (ASX:NXL) share price plunges 7% in 7 days 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 recommended Nuix Pty Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Domino’s Pizza Enterprises Ltd (ASX: DMP) share price is on fire right now. Shares in the Aussie pizza franchise jumped 2.2% higher yesterday and are now just 1.4% shy of their $121.79 all-time high.

Here’s why shares in this restaurant chain with a $10 billion market capitalisation are soaring right now.

Why the Domino’s share price is near an all-time high

Shares in the Aussie pizza group are up an impressive 36.2% so far this year. That’s despite a limited number of price-sensitive announcements to the market this year.

One of those rare updates was the company flagging a new acquisition on 11 June. Domino’s announced it has entered into a binding agreement with Formosa International Hotels Corporation to acquire a 100% interest in PizzaVest Company Limited, or Domino’s Taiwan.

Domino’s Taiwan operates 157 corporate and franchised stores and is the second-largest pizza chain in Taiwan. The transaction included consideration of $79 million on a cash and debt-free basis.

The Domino’s share price jumped higher on the news back in June. That was just one good day in a relatively bullish run for the ASX 200 share since 9 March.

It’s just one part of the company’s growth strategy to expand its franchise network across Asia and Europe. In fact, according to CEO Don Meij as quoted by the Australian Financial Review, Domino’s is looking to double store numbers globally to 5,550 locations by 2031.

That includes an aggressive roll-up strategy of additional sites as many hospitality players struggle with COVID-19 restrictions. The Domino’s share price surged amid lockdowns in 2020 as the company delivered strong sales.

It looks like investors are expecting more of the same right now. The Domino’s share price has been climbing despite extended lockdown fears across Victoria and New South Wales.

That has helped to propel the ASX 200 share towards a new all-time high, even as many other shares tumble.

The post The Domino’s (ASX:DMP) share price is near an all-time high. Here’s why appeared first on The Motley Fool Australia.

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Motley Fool contributor Ken Hall 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 Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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

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

The US stock market has been on edge for the past week, and on Monday, stocks pulled back sharply. The Nasdaq Composite (NASDAQINDEX: ^IXIC) actually held up well, falling a bit more than 1% as of noon EDT. Several other major market indexes saw larger declines.

Merger and acquisition activity has increased dramatically in the past year, and on Monday, investors got interesting news from video collaboration specialist Zoom Video Communications (NASDAQ: ZM). Shareholders in Five9 (NASDAQ: FIVN) are quite happy that Zoom has made an acquisition bid for the cloud-based contact centre specialist. However, some of the details have to make investors wonder what the deal says more broadly about the Nasdaq and its future course.

Zoom makes the call for growth

Zoom’s stock was down more than 4% after it announced its purchase of Five9. Five9 shares rose more than 5%.

Zoom’s bid for the cloud-based call centre specialist values Five9 at about $14.7 billion. Under the terms of the deal, Zoom will give Five9 shareholders 0.5533 shares of Zoom for every Five9 share they own. The companies expect the deal to close in the first half of 2022.

The two companies explained their reasons for the move. Zoom sees the acquisition helping to boost the value proposition from its existing video collaboration platform, identifying the call centre market as a $24 billion opportunity to add to its existing addressable market.

As Zoom CEO Eric Yuan explained, “Enterprises communicate with their customers primarily through the contact centre, and we believe this acquisition creates a leading customer engagement platform that will help redefine how companies of all sizes connect with their customers.”

Meanwhile, Five9 CEO Rowan Trollope sees the move helping his company’s customers get better access to Zoom features. In particular, Trollope mentioned the Zoom Phone offering, which has been a key direction in which Zoom hopes to expand the scope of its overall business.

Zoom keeps its cash

Plenty of investors are debating whether the acquisition makes sense from a business standpoint. What stood out to me, though, was the way in which Zoom made the purchase.

Zoom finished the first quarter of its current fiscal year with an extremely healthy balance sheet. The company reported $1.56 billion in cash and equivalents, as well as another $3.13 billion in short-term investments. That’s nearly $5 billion that many anticipated Zoom using to make a strategic acquisition similar to this one.

However, by doing the all-stock deal, Zoom implied that it thinks its stock price is high enough that an all-stock deal makes more sense. That’s not an unreasonable position for the company to take, but it did seem to make Zoom shareholders take pause. After reaching a high of $550 per share last October, the stock briefly dropped below $300 earlier this year, and the deal just seemed to put a stop to more bullish sentiment that had briefly sent Zoom’s stock price back to $400.

Hoping for the best

Many are still optimistic about Zoom’s long-term opportunities. The company has worked hard to go beyond its core video platform, and positive cash flow will give Zoom plenty of chances to make further acquisitions down the road.

Nevertheless, Zoom didn’t give a vote of confidence in its stock price, even at greatly depressed levels. If other Nasdaq stocks are seen as equally overvalued, then it could create the negative sentiment that could lead to a long-awaited downturn for the index and many other high-profile growth stocks in the market.

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

The post What the Zoom-Five9 Deal Says About the Nasdaq’s Future appeared first on The Motley Fool Australia.

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Dan Caplinger owns shares of Zoom Video Communications. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Zoom Video Communications and Five9. The Motley Fool Australia has recommended Zoom Video Communications. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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

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The JB Hi-Fi Limited (ASX: JBH) share price is on watch today after the electronic goods retailer released its sales update and preliminary unaudited financial results for the 2021 financial year (FY21).

We take a look at these below.

What financial results did JB Hi-Fi report?

The JB Hi-Fi share price will be one to keep an eye on after the company reported record sales and earnings for FY21.

According to the release, continuing increased customer demand for consumer electronics and home appliance products helped drive a 12.6% increase in total sales to $8.9 billion, up from $7.9 billion in FY20.

Demonstrating the growing shift to online shopping, JB Hi-Fi reported a 78.1% year-on-year increase in online shopping sales. Online sales reached $1.1 billion, or 11.9% of total sales.

Earnings before interest and taxes (EBIT) increased 53.8% compared to the prior financial year, to $743.2 million. Net profit after tax (NPAT) came in at $506.1 million, up 67.4% from the 302.3 million reported for FY20.

Commenting on the results, group CEO Richard Murray said:

We are pleased to report record sales and earnings for FY21. Our continued focus on the customer, and investments in our online business and our supply chain, have enabled us to seamlessly meet our customers’ increased demand both instore and online…

[O]ur team members are our number one asset and our most important competitive advantage; their dedication and deep product knowledge continue to delight our customers every day.

With the new round of lockdowns hitting Victoria and New South Wales, JB Hi-Fi cautioned that it expected “some disruption and variability to sales”, citing store closures in both states. The company said it will update the market on July sales when it reports its full 2021 financial year results on 16 August.

JB Hi-Fi share price snapshot

The JB Hi-Fi share price has been on a bit of a rollercoaster over the past 12 months, currently up 11% since this time last year. By comparison the S&P/ASX 200 Index (ASX: XJO) is up 21%.

Year to date, JB Hi-Fi shares are down 4%.

The post Why the JB Hi-Fi (ASX:JBH) share price is on watch today 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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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

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

What happened

Zoom Video Communications (NASDAQ: ZM) was trading down by more than 2% in late afternoon action in the US on Monday. This followed the announcement of the video conferencing specialist’s latest acquisition.

So what

On Sunday, Zoom announced it had signed a definitive agreement to acquire cloud-based contact centre software developer Five9 (NASDAQ: FIVN). Zoom said the transaction is valued at $14.7 billion. Thankfully the tech company’s owner-to-be won’t have to feverishly raise cash for the deal, as it’s being effected entirely in Zoom stock.

“Enterprises communicate with their customers primarily through the contact centre,” Zoom CEO Eric Yuan said. “We believe this acquisition creates a leading customer engagement platform that will help redefine how companies of all sizes connect with their customers.”

Zoom is touting the complementary nature of the Five9 acquisition, claiming it will present cross-selling opportunities (both for its own customer base and that of Five9 as a unit) when paired with its Zoom Phone offering.

Now what

The boards of directors of both Five9 and Zoom have approved the buyout deal. It is subject to approval by the latter’s shareholders. Zoom said the purchase should close in the first half of calendar year 2022.

As is common with big-ticket buys, the share price of the acquirer is slumping on the news while the acquired company’s is rising (by almost 6%, at last glance). What might also be concerning Zoom investors is the company’s lack of a forecast on how Five9 might affect its financials and operations.

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

The post Why Zoom Video Communications Was Down on Monday appeared first on The Motley Fool Australia.

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Eric Volkman 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 Zoom Video Communications. The Motley Fool Australia has recommended Zoom Video Communications. The Motley Fool owns shares of and recommends Five9. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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

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The US stock market returned from the weekend and was a sea of red on Monday night. Investors were selling travel, banking, and energy shares down, leading to the Dow Jones having its worst day since October of last year.

The Dow Jones sank over 700 points or 2.1%, the S&P 500 dropped 1.6%, and the tech-focused Nasdaq index fell 1.1%.

Why did the US stock market tumble?

Investors were hitting the sell button on the US stock market amid concerns over rising COVID-19 cases and the impact this could have on the global economic recovery. This follows surging delta variant infections across the United States, UK, and countries around the world.

Among the worst performers on Wall Street were travel shares, with airlines, cruise lines, and travel bookers falling heavily.

This doesn’t bode well for the likes of Flight Centre Travel Group Ltd (ASX: FLT), Qantas Airways Limited (ASX: QAN), and Webjet Limited (ASX: WEB) on Tuesday.

US banks fall

Also falling heavily on the US stock market overnight were US banks. Bank of America, Goldman Sachs, and JP Morgan all fell around 3%.

This could mean an equally red day for Commonwealth Bank of Australia (ASX: CBA) and the rest of the big four banks.

Though, the Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price could behave differently depending on how well its announcement of a $1.5 billion share buy-back is received by the market.

Energy shares sink

Another group of shares that performed particularly poorly on the US stock market on Monday were energy producers. This followed a sharp decline by both the WTI crude oil price and Brent crude oil price after OPEC revealed plans to remove its production limits.

The oil cartel is intending to lift its production by 400 million barrels per day each month until September 2022. At that point, all its production cuts will have been reversed.

Oil prices fell as much as 8% overnight, which is likely to put pressure on energy shares such as Beach Energy Ltd (ASX: BPT), Santos Ltd (ASX: STO), and Woodside Petroleum Limited (ASX: WPL).

The Oil Search Ltd (ASX: OSH) share price could be an outlier, though. This morning it revealed that it recently received and rejected a takeover approach. No details were provided on the price offered or the company making the proposal.

The post What happened on the US stock market overnight and how could it impact ASX shares? appeared first on The Motley Fool Australia.

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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 owns shares of and has recommended Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel 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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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

Apple Inc (NASDAQ: AAPL) was joining in Monday’s stock market sell-off. As investors respond to broader pessimism about the global rebound in new coronavirus cases, the tech giant’s share price fell by a little more than 3% in early trading — and that slide largely persisted throughout the session. As of 2:15 p.m. EDT, Apple stock remained down by 2.8%.

So what

The pandemic is one problem for Apple. Stock market analysts are another.

In twin notes Monday morning previewing the upcoming earnings release for Apple’s fiscal third quarter, analysts at Deutsche Bank said they see “strong momentum across all of its businesses,” and expect Apple to beat consensus estimates. That said, the analysts admitted that Apple is dealing with component shortages for its Macs and iPads that could dent results. In a note covered by TheFly.com, Deutsche seemed to hold out the most hope that 5G iPhone sales could save the quarter.

At the same time, however, analysts at investment bank Bernstein suggested that any beat by Apple might be only “modest” in size. Bernstein is hoping that Apple will keep market enthusiasm going by commenting on its fourth-quarter expectations, but warned that the company is more likely to give investors only vague guidelines rather than numerical guidance for the period.

Now what

So what should investors be looking for when Apple releases its Q3 numbers on July 28? On the one hand, both the top and bottom lines are expected to grow, with sales forecast to rise 22% year over year to $72.9 billion, and earnings up perhaps as much as 56% to $1 per share.

On the other hand, with investors already anticipating such strong growth numbers, it could be hard for Apple to exceed expectations. Hopefully, even a modest beat will be enough to keep investors happy.

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

The post Why Apple stock was falling Monday appeared first on The Motley Fool Australia.

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Rich Smith 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 Apple. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Apple. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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

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The Woolworths Group Ltd (ASX: WOW) share price weathered the storm on Monday after the S&P/ASX 200 Index (ASX: XJO) tumbled 0.85% to 7,286 points.

Shares in the supermarket giant managed to finish the session in the green, up 0.24% to $38.33.

How the Woolworths share price managed to eke out gains on Monday

Consumer staples held up

Most sectors struggled to find headway on Monday, with notable losses from sectors including materials, energy and financials.

Perhaps due to the resurgence of COVID-19 cases and the reintroduction of lockdowns, sectors including healthcare and consumer staples managed to close the session in positive territory.

More specifically, the S&P/ASX Consumer Staples Index (ASX: XSJ) finished Monday’s session up 0.24%.

In addition to the gains posted by the Woolworths share price, Coles Group Ltd (ASX: COL) shares also managed a rise of 0.88% yesterday.

Previously, the Australian Bureau of Statistics observed a 1.5% increase in food retailing turnover in May.

The ABS observed that Victoria, which entered a COVID-related lockdown in late May, experienced a 4.0% increase in food retailing, with a particularly strong performance from supermarkets.

Woolworths’ latest digital push

No, Woolworths isn’t launching its own buy now, pay later service.

On 2 June, Woolworths revealed the “next step in its evolution into a retail ecosystem” with the launch of its stand-alone payments system, Wpay.

According to Woolworths, the company is the fifth largest processor of card payments in Australia, settling an annual value of more than $50 billion.

Wpay is said to offer Australian merchants a “comprehensive payments and commerce platform” with a suite of features from integrated in-store and digital payments, payment services and gift card program management.

The Woolworths share price reacted positively to this news, adding 1.29% on the day of the announcement to close at $37.35.

On Monday, The Australian reported that Woolworths will trial another new digital feature called “Everyday Pay”

According to the report, Everyday Pay is a new digital wallet that will allow customers to “load their credit, debit and gift card details along with their payment preferences in the app”.

“The digital wallet will then take over when customers scan the QR codes on payment terminals at check-outs”.

The focal point of this initiative is to “help streamline check-outs and speed up the shopping process”.

About the Woolworths share price

The Woolworths share price has been a steady mover this year, rallying 13.10% year to date.

Most of its returns have occurred in the past 3 months, driven by positive announcements including the demerger of its Endeavour Group Ltd (ASX: EDV) business and PDF Food services acquisition.

The post Woolworths (ASX:WOW) share price outperforms following digital wallet launch appeared first on The Motley Fool Australia.

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Motley Fool contributor Kerry Sun 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 owns shares of and has recommended COLESGROUP 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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The BHP Group Ltd (ASX: BHP) share price is one to watch closely today.

This follows the release of the mining giant’s fourth quarter and full year update this morning.

How did BHP perform in FY 2021?

For the 12 months ended 30 June, BHP achieved record production at Western Australia Iron Ore (WAIO) and Goonyella. Also performing strongly was its Olympic Dam operation, which achieved both the highest annual copper production since its acquisition in 2005 and the highest gold production ever for the operation.

Over at Escondida, BHP maintained average concentrator throughput at record levels despite a challenging operating environment in Chile as a result of impacts from COVID-19.

This led to iron ore production of 235.5Mt, petroleum production of 102.8MMboe, and copper production of 1,635.7kt. Iron ore and copper were in line with guidance, whereas petroleum was slightly above guidance for FY 2021.

Positively, BHP enjoyed strong pricing during the year and looks set to report bumper free cash flow in August.

It revealed that its average petroleum price received increased 6% to US$52.56 per barrel, copper rose 52% to US$3.81 per pound, and iron ore increased 69% to US$130.56 per wmt.

Management commentary

BHP’s Chief Executive Officer, Mike Henry: “This strong performance is a reflection of the capability and commitment of our employees and contractors, the strength of our systems and the support of our business partners.”

“We achieved production records at our Western Australia Iron Ore operations and the Goonyella Riverside metallurgical coal mine in Queensland. We maintained all-time high concentrator throughput at our Escondida copper mine in Chile. Olympic Dam in South Australia had its highest annual copper production since BHP acquired the asset in 2005, and its best-ever gold production,” he added.

Mr Henry appears confident on the future, particularly given recent operational milestones.

The CEO commented: “South Flank, the largest and one of the most technically-advanced iron ore mines in Australia, began production in May and will boost the overall quality of BHP’s iron ore product suite. In the same month, the Ruby project in Trinidad and Tobago started production. Atlantis Phase 3 in the Gulf of Mexico and the Spence expansion in Chile began production in the first half of the year. BHP is in great shape.”

“Our operations are performing well, we continue our track record of disciplined capital allocation, and our portfolio is positively leveraged to the megatrends of decarbonisation, electrification and population growth,” he concluded.

FY 2022 guidance

Looking ahead, BHP’s guidance for FY 2022 is for relatively flat production across its key commodities.

Iron ore is expected to be 249Mt to 259Mt, representing a 2% decline to 2% increase on FY 2021.

Copper is expected to be between 1,590kt to 1,760kt, which will be a 3% decline to 8% increase year on year.

And finally, petroleum is forecast to be 99MMboe to 106MMboe, which represents a 4% decline to 3% increase.

The post BHP (ASX:BHP) share price in focus after strong FY 2021 performance appeared first on The Motley Fool Australia.

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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 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 Insurance Australia Group Ltd (ASX: IAG) share price is having a poor run lately.

Shares in IAG finished yesterday trading for $4.83. This time last month, its share price was $5.21. That represents a 7.29% fall over the last 30 days.

The significant drop comes despite the company only making one announcement to the ASX recently.

Additionally, as The Motley Fool Australia reported yesterday, insurance shares will likely be benefited from the lockdowns currently facing Australia’s largest cities. The logic is, if more people stay home, there will be fewer motor vehicle accidents taking place.

Let’s take a look at the last time we heard from IAG.

Quick refresher

IAG is Australia and New Zealand’s largest general insurance company.

It underwrites close to $12 billion worth of insurance premiums per annum.

IAG sells insurance under many brands including NRMA, CGU, and WFI.

The latest from IAG

IAG has been notably quiet since 5 July.

Then, it announced it had finalised its aggregate reinsurance cover for the 2022 financial year.

The 2022 financial year aggregate cover for $350 million in excess of $400 million.

It also caps qualifying events at $200 million in excess of $50 million per event.

Interestingly, the IAG share price increased when it last released news. Its shares finished the day 1.17% higher than they did the previous session.

The company is getting closer to releasing its full year results for the 2021 financial year. It is planning on publishing them on 11 August.

Hopefully, by then we’ll see an uptick in IAG’s performance on the ASX.

IAG share price snapshot

After the poor month’s performance, the IAG share price is only slightly higher than it was at the beginning of 2021.

Right now, it has gained 2.33% year to date. However, it has dropped 13.29% since this time last year.

The company has a market capitalisation of around $12.5 billion, with approximately 2.4 billion shares outstanding.

The post Here’s why the IAG (ASX:IAG) share price is down 7% this last month 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 owns shares of and has recommended Insurance Australia 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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