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The S&P/ASX 200 Index (ASX: XJO) is off its lows and trading slightly in the red this afternoon. At the time of writing, the benchmark index is down a few points to 7,293.8 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are tumbling lower:

Catapult Group International Ltd (ASX: CAT)

The Catapult share price has sunk 8% to $2.00. The sports analytics and wearables company’s shares have come under pressure after it announced the completion of its equity raising. According to the release, the company has raised $35 million via an underwritten institutional placement of new shares at a price of $1.90. This represents a discount of 12.8% to its last close price. Catapult is raising funds to acquire SBG Sports Software and accelerate its growth strategy.

Earlypay Ltd (ASX: EPY)

The Earlypay share price has fallen 6% to 45 cents. This decline has also been driven by an equity raising. The payment advance company revealed that it has received commitments to raise $18.85 million via a placement to new and existing institutional and professional investors. According to the release, the company is raising the funds at a price of $0.42 per new share. This represents a 12.5% discount to its last close price. The proceeds will be used to support its new trade finance product.

Nuix Ltd (ASX: NXL)

The Nuix share price is down 2.5% to $2.54. This morning the embattled investigative analytics and intelligence software provider informed the market that a search warrant was executed at Nuix’s Sydney office seeking documents. It advised that this is in relation to an investigation into the affairs of an individual and does not relate to any allegation of wrongdoing by Nuix.

Woolworths Group Ltd (ASX: WOW)

The Woolworths share price has tumbled 11% to $37.88. Today’s decline has been caused by the spin-off of its drinks business. This has seen Endeavour Group Limited (ASX: EDV) join the ASX 200 index today, with Woolworths’ shareholders receiving one Endeavour Group share for every Woolworths share they hold. The Endeavour Group share price is trading at $6.17 this afternoon.

The post Why Catapult, Earlypay, Nuix, & Woolworths are tumbling lower appeared first on The Motley Fool Australia.

More reading

• ASX 200 down 0.25%: Woolworths sinks, Afterpay jumps, Westpac NZ update
• Why the Catapult (ASX:CAT) share price is down 12% today
• Why is the Woolworths (ASX:WOW) share price down 15% today?
• Why the Earlypay (ASX:EPY) share price is sinking 8% today
• 5 things to watch on the ASX 200 on Thursday

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 Catapult Group International Ltd. 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 Catapult Group International Ltd. The Motley Fool Australia has recommended Nuix Pty 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 Select Harvests Limited (ASX: SHV) share price is on the rise today, setting a new 52-week high.

With no recent news released to the ASX, investors are clearly enthusiastic about Select Harvests.

During midday market trade, the almond grower’s shares reached a 12-month high of $6.92. However, following the strong rise, investors decided to take some profit off the table which led its shares slightly lower.

At the time of writing, Select Harvests shares are up 6.24% to $6.64.

What’s driving these gains?

A possible catalyst for the recent surge in the Select Harvests share price could be two broker updates.

After reporting its first-half results for 2021 in late May, investment firms Citi and Wilsons rated the company as buys.

First up, global investment bank Citi raised its 12-month price target for Select Harvests by 4.6% to $6.80. And following suit, advisory group Wilsons lifted its rating by 4.1% to $6.95.

This came despite the company reporting a mixed half-year result which saw net profit after tax (NPAT) fall to $1.3 million. When compared to the previous corresponding period, this is a drop of 92.5%.

However, not all was bad, with Select Harvests highlighting its almond crop grew to 28,250 million tonnes in the period. This reflects an increase of 21.5% over H1 FY20. The company noted global demand for almonds remains strong.

About the Select Harvests share price

While Select Harvests shares have soared higher since the start of the month, it hasn’t been all smooth sailing. The company’s share price hit a multi-year low of $4.91 in January this year, before a gradual uptick.

Based on today’s price, Select Harvests has a market capitalisation of around $803 million, with approximately 120 million shares outstanding.

The post Select Harvests (ASX:SHV) share price hits new 52-week high appeared first on The Motley Fool Australia.

More reading

• Why ASX agricultural shares are high on institutional investors’ radars
• Select Harvests (ASX:SHV) share price falls on plummeting profits

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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Shares in Pilbara Minerals Ltd (ASX: PLS) are on a tear, running ~25% higher in June into record territory.

Today was another record-setting day for the Pilbara share price, which hit an intraday high of $1.58 this morning.

The lithium miner’s shares are currently up 3.15%, trading at $1.54.

Lithium prices continue to advance

It’s possible that the soaring Pilbara Minerals share price is a reflection of an elevated level of lithium demand and spot prices.

According to the latest global lithium update from Fastmarkets, consumers in the domestic Chinese and seaborne Asian markets are finding it difficult to secure adequate feedstock in battery-grade lithium hydroxide, which is sending prices higher.

The update reported that China’s consumers “are still struggling to secure units at the moment while demand is ramping up at unexpected speed”.

Elsewhere, Fastmarkets said that spot lithium prices in Europe and the United States continued to climb, “thanks to support from tight availability of technical-grade compounds, ongoing logistic disruptions and an upward price trend in global lithium prices”.

Broader lithium industry pushes higher

The Global X Lithium & Battery Tech EFT (LIT) could be a useful measure of performance in the broader lithium sector.

The LIT ETF invests in the full lithium cycle, including companies that mine and refine the metal, through to battery producers and automakers. Top holdings include one of the world’s largest lithium producers, Albemarle and a China-based lithium battery producer, Eve Energy.

The ETF has positions in ASX-listed producers and explorers including Pilbara Minerals, Orocobre Ltd (ASX: ORE), Galaxy Resources Ltd (ASX: GXY) and Ioneer Ltd (ASX: INR). These four holdings account for a respective 1.23%, 0.92%, 0.71% and 0.21% of its net assets.

The LIT ETF has pushed ~3.4% higher in June, up 13.3% year-to-date and about 5.5% away from its February record all-time highs.

Its solid performance might reflect an increasing investor appetite for renewable materials and solutions, which sits well with the soaring Pilbara Minerals share price.

The post The Pilbara Minerals (ASX:PLS) share price smashes another record high appeared first on The Motley Fool Australia.

More reading

• Here’s why the Ioneer (ASX:INR) share price is charging 11% higher
• Here are 3 ASX 200 shares that are on the move today
• Why the Vanadium (ASX:VR8) share price surged to a 2-year high today
• Why the Pilbara Minerals (ASX:PLS) share price is up 7% to a record high
• These ASX 200 shares are on the move today

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 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 Cochlear Limited (ASX: COH) share price has surged more than 29% since the start of the year. Following a tough 2020, Cochlear has been one of the standout performers in the S&P/ASX 50 Index (ASX: XFL) for 2021.

A strong half year report and pipeline of demand have seen investors clamour for shares in the company. Read on to find out more on the Cochlear share price.

What’s been driving the Cochlear share price?

After a tumultuous 2020, shares in Cochlear have burst out the blocks in 2021 having recently hit a new 52-week high.

Despite the company not releasing any price-sensitive news, a promising half year report and a strong recovery potential could be what’s driving investors to the company.

For the 6 months to December 31, Cochlear recorded a 2% fall in total revenue to $743.2 million, while underlying net profit climbed 4% to $125.3 million.

Although Cochlear reported an 8% slide in sales revenue in the first quarter of FY21 2021, sales rebounded strongly in the second quarter, up 7% on a constant currency basis.

Cochlear attributed the performance to varying degrees of growth across established and emerging markets. The better than expected result saw Cochlear return the government funding it had received as part of JobKeeper. In addition, Cochlear resumed paying dividends, declaring a $1.15 dividend, representing 60% of underlying profits.

What is the outlook for Cochlear?

Cochlear and the hearing implant sector were hit hard during the COVID-19 pandemic as elective surgeries ceased globally. Despite a sudden decline, implant surgery rates began to recover late last year.

As a result, Cochlear forecasts that it will achieve an underlying net profit for FY21 between $225 million and $245 million. This forecast reflects a 46% to 59% increase on last year’s FY20 result.

Cochlear noted that a successful rollout of COVID-19 vaccines will see elective surgeries return to their pre-pandemic levels. The company noted that implant surgery rates have bounced back strongly in developed markets.

The recovery in emerging markets such as India and Brazil is expected to be more protracted. Emerging markets account for 20% of Cochlear’s sales revenue. However, multiple strains and rising COVID cases are expected to subdue the recovery.

Cochlear hopes to return to its historical 70% dividend ratio in the near future and expects that the implant market will return to normal growth in financial year 2022-23.  

The post The Cochlear (ASX:COH) share price has surged nearly 30% in 2021 appeared first on The Motley Fool Australia.

More reading

• These 3 shares are the best performers of the ASX 50 so far in 2021
• Cochlear (ASX:COH) share price edges higher to break 52-week record
• 4 buy-rated ASX shares for June
• 3 ASX shares for buy and hold investors to check out
• Why ‘value’ and ‘growth’ share categories are meaningless

Motley Fool contributor Nikhil Gangaram 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 Cochlear Ltd. The Motley Fool Australia has recommended Cochlear 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is fighting hard to get back into positive territory but has just fallen short. At the time of writing, the benchmark index is down 0.1% to 7,292.2 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are storming higher:

Afterpay Ltd (ASX: APT)

The Afterpay share price has jumped 6.5% to $130.81. Investors have been buying the payments company’s shares after it announced the expansion of its one-time card footprint. The buy now pay later provider will now let users shop with some of the most popular and largest merchants in the United States. This includes Amazon, Nike, Nordstrom, Target, and Walgreens. Combined, the new additions represent almost half of all U.S. ecommerce volume.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price has risen 3.5% to 23.3 cents. Interestingly, this gain has been driven by the discovery of gold and not lithium. As part of its search for lithium-bearing pegmatite resources at the Finniss Lithium Project in the Northern Territory, Core identified numerous signs commonly associated with gold deposits in nearby locations.

De Grey Mining Limited (ASX: DEG)

The De Grey Mining share price is up 11% to $1.37. This appears to be a delayed reaction to yesterday’s mineral resource update. That update revealed that the measured and indicated mineral resources across the Mallina Gold Project comprise 3.8M ounces at 1.4g per tonne of gold. This is being underpinned largely by the Hemi deposit, which contributes 2.8M ounces at 1.3g per tonne of gold.

Pro Medicus Limited (ASX: PME)

The Pro Medicus share price has jumped 7% to $57.15. This is despite there being no news out of the health imaging company. Furthermore, Pro Medicus’ shares are surging higher even though they were downgraded by analysts at Morgans today. The broker has downgraded them to a reduce rating but lifted its price target to $49.69. It made the move on valuation grounds.

The post Why Afterpay, Core Lithium, De Grey Mining, & Pro Medicus are storming higher appeared first on The Motley Fool Australia.

More reading

• Up another 6%, Afterpay (ASX:APT) share price hits 4-month high
• ASX 200 down 0.25%: Woolworths sinks, Afterpay jumps, Westpac NZ update
• Here’s why the Core Lithium (ASX:CXO) share price is lifting off today
• 4 top ASX 200 shares analysts rate highly
• Afterpay (ASX:APT) onboards Amazon, Nike, Target to ‘one-time card’

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 AFTERPAY T FPO and Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO and Pro Medicus 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 Jumbo Interactive Ltd (ASX: JIN) share price has hit a new 52-week high in intraday trade today.

Earlier this afternoon, the Jumbo share price reached $17.84 – the highest it’s been in 12 months.

At the time of writing, Jumbo shares are 6.51% higher than their previous close, swapping hands for $17.83.

Jumbo’s flagship service is OzLotteries. It also runs official government and charitable lotteries.

Let’s take a look at what’s been driving the lottery business’ shares lately.

The year that’s been

Over the last 12 months we’ve heard several pieces of exciting news from Jumbo.

Firstly, the company extended its agreement with Tabcorp Holdings Limited (ASX: TAH) by another 10 years in June 2020. Under the agreement, Jumbo will continue to sell Tabcorp lottery tickets.

Then, in September, the company announced its subsidiary had made an agreement with Lotterywest. The agreement saw Jumbo providing Lotterywest with its software platform and services for the next decade.

The only time the ASX has heard price-sensitive news from Jumbo this year was when it released its half year results in February.

In the 6 months ended 31 December 2020, Jumbo reported a 26% increase in its total transaction value, raking in $233 million.

It’s revenue also grew, but only by 9% to $41 million.

The company’s underlying earnings before interest, tax, depreciation and amortisation (EBITDA) grew by just 3.7% to $24.1 million. And it penned a 0.5% lift in net profit after tax (before amortisation) to $16.3 million. 

Despite the small gains, the Jumbo share price fell that day to close 6.9% lower than its previous session.

Since its half year results were released, the Jumbo share price has gained 31%.

Jumbo share price snapshot

It has been a good year so far on the ASX for the Jumbo share price.

Currently, Jumbo shares are 26% higher than they were at the beginning of 2021. They have also gained 77% since this time last year.

The company has a market capitalisation of around $1 billion, with approximately 62 million shares outstanding.

The post The Jumbo (ASX:JIN) share price hits a new 52-week high appeared first on The Motley Fool Australia.

More reading

• Jumbo (ASX:JIN) share price rises to reach new 52-week record
• 2 ASX dividend shares this broker likes
• These ASX insiders are buying up more shares in their companies
• 2 growing ASX dividend shares for income investors
• Jumbo (ASX:JIN) share price tumbles on broker downgrade

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 Jumbo Interactive Limited. The Motley Fool Australia owns shares of and has recommended Jumbo Interactive 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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It’s like the sell-off never happened. The Afterpay Ltd (ASX: APT) share price has clawed its way back up to a 4-month high and is trading 6% higher to $130.35 at the time of writing.

Afterpay shares have demonstrated extraordinary signs of strength this month in particular, launching ~40% from $92.77 at the start of June to more than $130 today.

Let’s take a look at what factors might be driving Afterpay’s comeback.

Afterpay expands ‘one-time card’ offering

One factor which could be driving the Afterpay share price today is the expansion of its buy now, pay later (BNPL) service to some of the largest US online brands.

On Wednesday night, Afterpay revealed that it had onboarded high profile retailers such as Amazon.com Inc (NASDAQ: AMZN) and Nike Inc (NYSE: NKE) to its one-time card feature on the Afterpay app.

This feature will allow customers to generate a one-time card to enter at checkout for participating retailers.

Tech bouncing back

Broadly speaking, it’s been a somewhat frustrating year for ASX tech investors.

The S&P/ASX 200 Info Tech Index (ASX: XIJ) staged two sharp ~20% sell-offs during 11 February to 9 March, and 19 April through to 13 May.

The main stocks driving the ASX 200 tech index lower were heavyweight names including Afterpay, Xero Limited (ASX: XRO), NextDC Ltd (ASX: NXT) and WiseTech Global Ltd (ASX: WTC).

The index has since rallied a solid ~25% off May lows, with many ASX 200 tech shares rebounding back to 1–3 month highs.

A similar narrative has taken place on Wall Street.

The tech-heavy Nasdaq Composite experienced a ~10% sell-off in late February and an ~8.5% pullback in late April/early May.

On both occasions, the Nasdaq bounced back strongly. And on Wednesday night, it managed to eke out a 0.13% gain to close in record territory.

The recent resurgence and investor appetite for tech is another factor that could be helping to drive the Afterpay share price to a near-term high.

Large cap BNPL shares pushing higher

Afterpay isn’t the only BNPL share bouncing off near-term lows.

The Zip Co Ltd (ASX: Z1P) share price has staged a similar comeback, surging 22% from $7.04 at the start of June to its current level of $8.59 at the time of writing.

Another key player in the BNPL industry is US-listed Affirm Holdings Inc (NASDAQ: AFRM).

Affirm boasts a market capitalisation of about US$17 billion (A$22 billion), and is currently solely focused on the North American region.

The Affirm share price has bounced a similar ~35% off its May lows to US$65.19.

The post Up another 6%, Afterpay (ASX:APT) share price hits 4-month high appeared first on The Motley Fool Australia.

More reading

• ASX 200 down 0.25%: Woolworths sinks, Afterpay jumps, Westpac NZ update
• 4 top ASX 200 shares analysts rate highly
• Afterpay (ASX:APT) onboards Amazon, Nike, Target to ‘one-time card’
• Up another 6%, Zip (ASX:Z1P) share price hits 2-month high
• ASX 200 down 0.5%: Costa’s acquisition, Afterpay & Zip charge higher

Motley Fool contributor Kerry Sun owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Affirm Holdings, Inc., WiseTech Global, Xero, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO, WiseTech Global, and Xero. 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 Bitcoin (CRYPTO: BTC) price is down 2.1% over the past 24 hours.

One Bitcoin is currently worth US$33,312 (AU$43,832), giving the world’s biggest cryptocurrency a market cap of US$624.3 billion.

That’s well off the US$1.2 trillion market cap when Bitcoin was trading at all-time highs of US$64,829 in mid-April. Since then, the token has lost 49% of its value.

Crypto mining machines tumble

The Bitcoin price may have fallen by half since April’s records, but the price of the virtual picks and shovels used to mine the token have tanked even more.

Bitmain Technologies is the world’s biggest producer of the machines used to mine Bitcoin. And Bitmain reported yesterday (overnight Australian time) that the prices for its top-of-the-line mining machines are down 75% since April.

As Bloomberg reports, Bitmain has now “suspended sales of machines for spot delivery globally, aiming to prop up local prices after crypto miners fleeing Beijing’s crackdown dumped used mining rigs on the market”.

As you may be aware, China is aiming to stamp out crypto mining within its borders. In addition, it is looking at banning its financial institutions from facilitating crypto transactions.

Bitmain did not say when it expected to resume selling its Bitcoin mining devices.

$4.7 billion of Bitcoin vanishes

Ameer and Raees Cajee are 2 brothers who founded South African-based cryptocurrency investment platform Africrypt. They now appear to have vanished along with their platform’s US$3.6 billon (AU$4.7 billion) worth of Bitcoin.

Ameer, the firm’s COO, told the platform’s customers that Africrypt had been hacked back in April. Some of his clients pursued the matter, hiring law firm Hanekom Attorneys.

Hanekom Attorneys said (quoted by Bloomberg): “We were immediately suspicious as the announcement implored investors not to take legal action. Africrypt employees lost access to the back-end platforms seven days before the alleged hack.”

The firm’s investigation found Africrypt’s pooled funds were transferred from its South African accounts and client wallets, and the coins went through tumblers and mixers – or to other large pools of bitcoin – to make them essentially untraceable.

With Bitcoin and other cryptos already under the microscope by legislators across the globe, the alleged $4.7 billion theft will only up the pressure for greater regulation.

While that may be in the best interests of investors in the longer-term, it could put further downward pressure on the Bitcoin price in the mid-term.

The post Bitcoin’s misfortunes spreading pain across the globe appeared first on The Motley Fool Australia.

More reading

• Six things investors need to know before investing in cryptocurrencies
• Following another wild night, the Ethereum price is gaining…for now
• Here’s Why Bitcoin, Ethereum, and Dogecoin Crashed Tuesday
• Ignore the ‘death cross’…here’s why the Bitcoin price is crashing
• Cryptocurrencies like Bitcoin just tanked again!

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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Earlier this month we revealed 5 ASX stocks that professional investors regretted, either for losing money or missing out on gains.

It reminded everyone that investing, even for those who do it for a living, never has a 100% win rate.

“To be perfectly honest, we target getting 60% of our decisions correct,” Sage Capital portfolio manager Sean Fenton told The Motley Fool.

“If you don’t do the hard accounting and actually track your investment decisions and work out your wins and losses, people tend to overestimate their skill. But we do do that — and if we can get 60% of our investment decisions right, it means we’re absolutely knocking it out of the park.”

So to counter that friend who brags about his new-found riches, here are stories of 6 more ASX shares that fund managers regretted:

Temple & Webster Group Ltd (ASX: TPW)

Online retailers did very well out of the first wave of the COVID-19 pandemic. 

People around the world stayed bunkered down and ordered homewares remotely to make their lives more comfortable.

Sage Capital portfolio manager Kelli Meagher regretted not buying into Temple & Webster, with its shares as low as $2.05 last year. They are trading for $10.16 early Thursday afternoon.

“I regret how conservative I was with my valuation discipline, I suppose, when it came to pure online retail stocks when they first started moving last year,” she told Ask A Fund Manager.

“And they’ve gone up, doubled and tripled, I saw that I’d missed the opportunity – and they just kept going. So there’s definitely some remorse from sitting on the sidelines there.”

Challenger Ltd (ASX: CGF)

Investment company Challenger has frustrated many shareholders over the last few years.

Trading at $5.34 Thursday afternoon, the stock is more than 38% down on 5 years ago.

U Ethical portfolio manager Jon Fernie admitted defeat.

“The one stock retreat where we got the timing wrong was investing into Challenger several years ago when we thought that interest rates were going to move higher. We also thought that there were going to be regulatory changes that would drive underlying demand for annuities,” he told Ask A Fund Manager. 

“Unfortunately, both those things didn’t happen. And that led to us ultimately exiting the stock at a lower level. So that was probably one investment decision that we regretted.”

Nike Inc (NYSE: NKE) and Lululemon Athletica Inc (NASDAQ: LULU)

For Forager research analyst Chloe Stokes, she wished she was better prepared when markets nosedived in March 2020.

“We saw brilliant companies like Nike and Lululemon down more than 30% in a couple of days,” she told Ask A Fund Manager.

“Those stocks would have been excellent investments at market prices, but because I never thought they were cheap enough to invest any time into, I didn’t have a thesis ready.”

Nike is up almost 30% in the past 12 months, while Lululemon shares have risen 19.2%.

The big lesson for Stokes was that investors, whether professional or amateur, need to have a ‘hit list’ ready for price dips.

“It might seem like a waste of time, but you never know when the opportunity could come along to own a high-quality business at a more than reasonable price,” she said.

“I wouldn’t want to miss out on owning some of my favourite businesses if the opportunity presents itself again.”

Zoom Video Communications Inc (NASDAQ: ZM)

If ever there was a COVID beneficiary, the video conferencing company that became a verb is it.

Zoom shares have risen about 460% since the start of 2020 when no one was thinking twice about going into the office 5 days a week.

Spaceship portfolio manager Jason Sedawie regretted not getting a piece of that action.

“It’s always what you don’t buy that hurts you because they can be the potential multi-baggers,” he told Ask A Fund Manager.

“Whenever I’m on a Zoom call or Google Meet, I just get reminded of that company.”

The video tech provider surprised Sedawie in the way it rose above hot competition from deeper-pocketed rivals.

“We did know about it, but it wasn’t something we were really excited about because everyone used Microsoft Teams, Google Hangouts,” he said.

“They were a business service that schools and consumers just all of a sudden knew. So they went from 10 million daily meeting participants to 300 million a couple of months later. Just how they scaled and executed and pivoted – I just have a lot of respect.”

Tripadvisor Inc (NASDAQ: TRIP)

Hyperion Asset Management lead portfolio manager Jason Orthman remembers buying Tripadvisor shares thinking the business could disrupt traditional booking engines.

“Our research didn’t pick up how sticky consumer behaviour was and how strong the competitive offerings were,” he told Ask A Fund Manager.

“It took us about 2 quarters to realise our research was incorrect, and we exited. And that saved our investors a lot of money. We lost money on that investment, but we didn’t experience the significant downside that those that have held onto that business had.”

Tripadvisor stocks have lost more than 34% over the past 5 years.

But there was a final twist to rub salt into the wound.

Stocks for Tripadvisor rival Booking Holdings Inc (NASDAQ: BKNG) have surged almost 83% in the last half-decade.

“We compounded that error, not only buying Tripadvisor, but selling out of Priceline, which is now called Booking Holdings.”

The post 6 more shares that haunt fund managers appeared first on The Motley Fool Australia.

More reading

• Afterpay (ASX:APT) onboards Amazon, Nike, Target to ‘one-time card’
• 8 ASX shares that supercharged us out of COVID-19: analyst
• 4 factors that could make the Temple & Webster (ASX:TPW) share price a buy
• 3 excellent ASX shares for growth investors
• These are the 10 most shorted shares on the ASX

Motley Fool contributor Tony Yoo owns shares of Temple & Webster Group Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Booking Holdings, Nike, Temple & Webster Group Ltd, TripAdvisor, and Zoom Video Communications. The Motley Fool Australia owns shares of and has recommended Challenger Limited. The Motley Fool Australia has recommended Booking Holdings, Nike, Temple & Webster Group Ltd, TripAdvisor, and Zoom Video Communications. 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 price of copper is trending upwards again, as China’s release of stockpiled metals proved smaller than expected.

Copper’s value gained 1.7% overnight, after it tumbled last week.

However, at the time of writing, it has fallen 1.15% since 10am this morning. This leaves it 0.23% higher than it was this time yesterday.

Currently, a tonne of copper is valued at US$9,376.75 on the London Metal Exchange.

How ASX copper shares are performing today

Like the copper price, ASX listed large-cap copper shares have been bouncing around today amid wider market falls.

Currently, the S&P/ASX 200 Index (ASX: XJO) is down 0.24%. Meanwhile, the All Ordinaries Index (ASX: XAO) is down 0.02%.

The ASX 200’s only pure-play copper company, Oz Minerals Limited (ASX: OZL) has spent a decent portion of today in the green, despite currently having slipped into negative territory. The Oz Minerals share price opened lower this morning before jumping more than 1% to an intraday high of $22.95. At the time of writing, however, the company’s shares are trading 0.75% lower at $22.55.

Meanwhile, shares of Sandfire Resources Ltd (ASX: SFR), the second-largest ASX copper producer by market capitalisation are rising today. Right now, the Sandfire Resources share price is trading 1.63% higher than its previous close.

What’s driving the price of copper?

According to reporting by South China Morning Post, China will sell 20,000 tonnes of copper from its reserves to the market. The metal will go to auction online on 5 July and 6 July.

The news seems to have bolstered confidence in copper, as the market apparently expected a larger amount of the red metal to be released.

This is Beijing’s latest attempt to curb a surge in commodity prices. It will also be releasing 50,000 tonnes of aluminium and 30,000 tonnes of zinc, also to be auctioned.

As The Motley Fool has previously reported, China consumes 50% of the world’s refined copper. If China were to release large amounts of copper from its stockpiles, global demand for the commodity would likely wane and its price would fall as a result.

The price of copper has gained around 21% since the start of 2021. It has also fallen roughly 12% since it hit its record high price of US$10,746 per tonne in May.

The price of commodities – including copper – fell recently after the US Federal Reserve indicated that interest rates could rise sooner than anticipated, strengthened by the US dollar. At the same, rumours of China’s plans to release stockpiled metals were swirling.

The post ASX copper shares up and down as copper price bounces back appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. 

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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