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The Buru Energy Limited (ASX: BRU) share price is rising today after the company confirmed its drilling rig for the 2021 Canning Basin program and noted substantial progress on its pre-spud activity.

The Buru Energy share price is up 5.8% to 18 cents per share at the time of writing.

Buru Energy is engaged in oil and gas exploration and production in the Canning Basin in the northwest of Western Australia.

The group is divided into 3 reportable segments:

• Oil, which includes the development and production of the Ungani conventional oilfield;
• Gas; which includes exploration of gas in Valhalla/Asgard and Yulleroo areas;
• And exploration, which focuses on prospects along with the Ungani oil trend and evaluation of the other areas.

The company generates the majority of revenue through the sale of crude oil. It’s partnered with blue-chip energy retailer Origin Energy Ltd (ASX: ORG) in its Canning Basin drilling sites. 

Buru Energy’s Canning Basin project

The company has confirmed the drilling rig for the three-well 2021 Canning Basin program as Ensign Rig 963. It’s a sister rig to Ensign 970 currently operating at West Erregulla in the Perth Basin. Ensign is the drilling rig manufacturer. 

The Ensign 963 rig most recently drilled in the Beetaloo Basin for Origin Energy, Buru’s Joint Venture partner for the Canning Basin exploration program.

Buru has agreed on a letter of intent with Ensign, including a deposit for initial rig mobilisation, and the formal rig contract is being finalised. The bidding process for well services contracts has been completed, and awards are in progress.

Buru Energy investors have been closely monitoring recent news, with the company setting relatively high drilling targets and the Buru Energy share price rising accordingly.

The spud date of the first well, Kurrajong 1, is on track for early to mid-June, with site construction underway. Spud or spudding is the process of first beginning to drill a well in the oil industry.

The Buru operated Canning Basin field program is kicking off with the northern wet season drawing to a close. The program includes a three-well drilling program and an extensive 2D seismic program of some 1,100 kilometres of data acquisition.

The two-well exploration drilling program is on conventional oil prospects, which Buru Energy hopes will find “very significant prospective resources”. The drilling program will also include a development well on the Ungani Oilfield. 

What Buru Energy management said

Buru executive chair Eric Streitberg said it was an exciting period for Buru Energy:

We are very pleased with the way the program is coming together in what will be a very big year for Buru in the Canning. We are drilling two of the largest onshore conventional oil prospects in Australia and success will be transformational for Buru, for the Kimberley, and
for Western Australia.

It is a multi faceted process to get ready to spud the first well, and we are on track and looking forward to starting work in the field and drilling some world class oil prospects.

Buru Energy share price snapshot

The Buru Energy share price has risen 95% over the past 12 months, from a low of 8 cents on 21 April. It’s down slightly this week, but it’s up 38% this month and 50% in 2021 to date.

More reading

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• Genex (ASX:GNX) share price frozen on hydro project fund raising
• Top broker issues buy alert on Santos (ASX:STO) and these ASX energy shares
• Here’s why the Buru Energy (ASX:BRU) share price is flying 6% today
• ASX 200 dips, Sydney Airport falls, AGL rises

Motley Fool contributor Lucas Radbourne-Pugh 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 Propell Holdings Ltd (ASX: PHL) share price opened 40% higher at 28 cents following the company’s initial public offering (IPO) this morning. The company had a listing price of 20 cents per share with an indicative market capitalisation of $19.2 million. 

In earlier trade, Propell shares jumped to an intraday high of 31 cents before retreating to their current level of 23.5 cents each, up 17.5% for the day so far.

The IPO will raise a combined $6 million for the company to pursue its growth strategy. 

Propell share price off and racing 

The Propell share price got off to a roaring start today with the company’s successful listing on the ASX. Propell operates in the alternative finance and payments markets, as a digital alternative to traditional banking platforms.

Traditionally, SMEs (small to medium enterprises) have to manage and deal with multiple providers to access financial products and services. According to Propell, it offers a platform that brings together a range of financial services and products under one consolidated and easy-to-use platform. 

The company currently has two core products. First, a proprietary lending product that provides unsecured lines of credit to customers through its Credit Decision Engine. Second, a transactional product, which is a simple and straightforward payments solution that can facilitate various non-traditional payment methods. Propell also offers business insights data to help businesses view and track how they interact with customers.

It is important to note that Propell is a loss-making business. In FY20, it generated $592,954 in revenue, an earnings before interest, taxes, depreciation, and amortisation (EBITDA) loss of $1.54 million and a net loss after tax of $2.7 million. The company has pointed to a number of initiatives to drive medium to long-term shareholder value. 

Future growth 

According to Propell, it is focused on a number of key strategic initiatives to build its product offering and drive customer growth. 

The company aims to both develop new lending products as well as partner with third party alternative lenders which offer differentiated lending products. Instead of developing its own technology for different types of credit, Propell will partner with different lenders through integrations on the Propell platform. 

Propell also aims to build out its transactional product to provide its customers with greater flexibility in getting paid. This includes connecting a greater number of third parties to the platform, including buy now, pay later (BNPL) providers, to enhance the experience for their end customers. 

Propell will also continue to invest in its technology to increase its value proposition to customers. Its current focus is on developing automated actionable insights that allow for better cash flow management and optimisation. 

Finally, Propell has made a small investment into exploring international opportunities. The company will assess entry into new markets over the medium to long term on a case by case basis. 

More reading

• Why’s the Magnetite Mines (ASX:MGT) share price up 34% this week?
• Why Tesla stock soared higher on Tuesday
• How does Afterpay’s (ASX:APT) growth rates compare to peers?
• A2 Milk (ASX:A2M) share price sours amid international student uncertainty
• Why BrainChip, Dubber, Galaxy, & Resolute shares are charging higher

Motley Fool contributor Kerry Sun 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 Magnetite Mines Limited (ASX: MGT) share price is up 34% since the start of this week, leaving investors scratching their heads.  

There’s been no real news from the mineral explorer for nearly a month. Could Cyclone Sejora – which devastated parts of Western Australia earlier this week – be to blame?

The Magnetite Mines share price began the week trading for 4.7 cents. It’s since risen to 6.3 cents.

Let’s take a closer look at what’s been going on with iron ore mining company lately.

He said, she said

The question many interested investors are asking was also put to Magnetite Mines by the ASX yesterday, in the form of a price query.

The ASX asked why the Magnetite Mines share price was trading for 4.4 cents last Tuesday yet reached an intraday high of 7.5 cents yesterday. It also noted a significant increase in the number of shares trading hands in the same period.

Magnetite Mines responded by saying that, perhaps, it was caused by its acquisition of the Muster Dam Iron Ore Project, combined with near-record iron ore prices. The company announced its acquisition of the project in early March.

Iron ore prices are rising this week due to demand from China and supply concerns caused by Cyclone Sejora. Cyclone Sejora made landfall early this week, wreaking havoc on many of Australia’s iron ore ports.

The company also pointed to an announcement of the appointment of its interim CEO and technical director in mid-March as a potential reason for its share price boom.

The Magnetite Mines share price has a recent history of rapid growth. In fact, its risen an enormous 530% this year so far, without announcing much in the way of news.

What’s been driving it this week is yet another guessing game.

Magnetite Mines share price snapshot

The Magnetite Mines share price started 2021 trading for just 1.3 cents. Interestingly, August 2020 was the first time the company’s share price closed above 1 cent since 2018.  

Currently, it’s up by a whopping 3,050% since this time last year.

The company has a market capitalisation of around $194 million, with approximately 2.8 billion shares outstanding.

More reading

• The Magnetite Mines (ASX:MGT) share price is up 330% in 2021

Motley Fool contributor Brooke Cooper 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

Shares of electric car and green energy company Tesla (NASDAQ: TSLA) soared on Tuesday. As of 3:42 p.m. EDT, the stock was up by about 7.8%

The stock was likely trading higher due to a combination of the market’s upbeat mood regarding growth stocks and some recent optimistic notes about the company from analysts.

So what

Many tech stocks were trading higher on Tuesday, with the tech-heavy Nasdaq Composite up by 1% as of this writing. And a number of growth stocks like Tesla, however, were up several percentage points or more. Broadly speaking, growth stocks seem to be rebounding from the steep sell-off they experienced in the second half of February and early March.

Meanwhile, Credit Suisse analyst Dan Levy released earnings per share estimates for Tesla’s first quarter that were ahead of the current average analyst forecast for the period. Levy also noted that he believes the company’s vehicle deliveries in 2021 could be higher than expected. He’s forecasting 929,000 deliveries this year, up from about 500,000 in 2020.

This bullish take on Tesla’s business added weight to another analyst’s optimistic remarks Monday.

Now what

Tesla is rapidly building out its production capacity this year for both its vehicles and its battery cells. For now, demand seems to be growing in line with that rapidly increasing production. Investors, however, should watch to see if this remains the case throughout the year.

Management has guided for vehicle deliveries in 2021 to grow by more than 50%.

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

More reading

• The stock that I’d hold for the next 5 years: fundie
• Tesla and Palantir were some of the most popular US shares last week
• Tesla stock: headed to $1,071?
• Tesla (NASDAQ:TSLA) shares are still cheap: fundie
• 2 investing approaches to help get you started on the ASX

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Tesla. 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.

Daniel Sparks has no position in any of the stocks mentioned. His clients may own shares of the companies mentioned. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has a disclosure policy.

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

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The record revenue reported by Zip Co Ltd (ASX: Z1P) yesterday shines a light on arguably the most important metric when it comes to high-growth shares — revenue growth. Which beckons the question, how does Afterpay Ltd (ASX: APT) stack up against its peers on this measure?

Is the largest ASX-listed buy now, pay later (BNPL) player still competitive with its smaller competitors? Is Afterpay delivering growth at scale? Also, is Zip catching up?

Grow now, profits later

Although payment instalment options existed earlier, the BNPL sector really came to life in 2017. A simple, interest-free payment system in the palm of our hands began to resonate with a new generation of shoppers. Since then, instalment payments have exploded in supply and demand. In such a rapidly expanding market, growth has been the absolute focus of these companies — profits can wait.

Afterpay and its rivals are all competing to take as big of a chunk of the payment pie as possible. The main way to do this is to grow fast, faster than your competition. If you can win a customer and/or merchant before your competition, that’s half the battle.

Let’s have a look at each company’s recent revenue growth:

ASX BNPL share	Reported revenue (as of 31 December 2020)	Year-on-Year revenue growth (as of 31 December 2020)	Market capitalisation
Afterpay Ltd (ASX: APT)	$670.9 million	115.2%	$36.16 billion
Zip Co Ltd (ASX: Z1P)	$247.7 million	110.5%	$4.60 billion
Sezzle Inc (ASX: SZL)	$58.8 million	272.1%	$913.3 million
Splitit Ltd (ASX: SPT)	$6.7 million	309.2%	$386.5 million
Openpay Group Ltd (ASX: OPY)	$23.2 million	60.8%	$225.9 million

ASX Afterpay peers need to grow at scale

Straight away, we can see extreme growth occurring in smaller ASX-listed Afterpay peers. Splitit, for instance, notched up a 309% increase in its revenue year-over-year. However, its revenue is coming from a low base, at sub $10 million. This touches on the ‘law of large numbers’.

The law of large numbers is demonstrated quite well here. The fundamental point of this law is that it’s much easier to grow from a small number than a big number. For example, for Openpay to double its revenue, it would need to add another $23 million in revenue — not all too difficult. Whereas Afterpay would need to source a further $671 million in revenue — much more challenging.

We can see that both Zip and Afterpay have managed to more than double their revenue, despite being much larger than their peers. But an interesting difference between these two payment providers is scaling.

Growing and scaling are two different things. Growing is increasing revenue and resources at the same pace, while scaling is increasing revenue rapidly with resources increasing incrementally. To double revenue in the last year, Afterpay increased its losses by 35%. Meanwhile, Zip’s losses increased by nearly 13 times. At face value, this would indicate that Zip is not scaling as effectively as Afterpay.

Foolish takeaway

Revenue growth is the prime focus for these companies. We can see that smaller ASX-listed Afterpay peers are increasing their revenue at a faster rate, but the law of large numbers will likely see that diminish longer term.

A likely contributor to Afterpay’s share price and business success is its scaling. Although Zip is growing at phenomenal rates, the expense needed to grow will need to reduce over time to demonstrate scaling.

More reading

• Top brokers name 3 ASX shares to buy today
• Are brokers bullish on the Zip (ASX:Z1P) share price after quarterly results?
• ASX 200 up 0.6%: Zip rises, Resolute rockets, tech shares storm higher
• Could this help the Zip (ASX:Z1P) share price catch up to Afterpay?
• 5 things to watch on the ASX 200 on Wednesday

Mitchell Lawler owns shares of AFTERPAY T FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Sezzle Inc. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Sezzle Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The A2 Milk Company Ltd (ASX: A2M) share price is turning sour today. At the time of writing, shares in the New Zealand dairy company are trading for $8.23 – down 0.72%. By comparison, the S&P/ASX 200 Index (ASX: XJO) is 0.3% higher.

Over the last year, the A2 Milk share price has fallen by an astounding 53%.

While daily share price movements can be influenced by a myriad of factors, one possible reason behind today’s A2 Milk doldrums could be recent developments surrounding international student arrivals into Australia.

Let’s take a closer look at recent reports and why they could be negatively impacting the A2 Milk share price.

Australia may not see international students return soon

According to a report in yesterday’s The Australian, as a result of Australia’s delayed vaccine rollout for COVID-19, the country appears unlikely to reach herd immunity by the end of 2021 and therefore not open its borders to international students. Just last week, Prime Minister Scott Morrison said a general border opening was not on the cards in the near term.

There were hopes international students could come back to Australia before 2022, and before the borders were open to all. The New South Wales Government proposed a program to allow international students to return to the country and isolate themselves separately from the hotel quarantine program.

The state government stressed international students are “vital” for the “education sector and the economy more broadly” and began seeking external expressions of interest for the management of international student arrivals, as reported by The Guardian.

Ongoing issues with Australia’s vaccine rollout may have put those hopes on ice.

What does this have to do with the A2 Milk share price?

Before the pandemic, the biggest ‘cash cow’ for A2 Milk was its infant formula. In FY19, infant formula compromised 81.5% of all revenue. The largest market for A2 Milk’s infant formula was the daigou market.

Daigou is a term that refers to a market of customers who buy products overseas (such as in Australia) and then sell and ship them to end-users in China. These entrepreneurs are usually, but not always, from the People’s Republic. Popular daigou products in Australia include Blackmores Limited (ASX: BKL) vitamins and the aforementioned infant formula.

ASX investors do not expect the international border to open for some time. An analysis by Deloitte Access Economics says the border will not open fully until at least 2024. There was hope, however, an exception could be made for international students.

The reason the A2 Milk share price could be impacted by the return of international students to Australia is that a large portion of these students come from mainland China.

According to the Department of Education, in 2019 (pre-pandemic) 212,000 international students in Australia were from China, representing the single largest nationality bloc. In fact, this number was greater than those of the next three nationalities combined.

For further context, in FY19, 1.4 million tourists arrived in Australia from China. While the Chinese international student number is obviously much smaller, it still represents around one-sixth of total Chinese visitors to Australia.

The return of international students has the potential to reactivate the daigou channel in Australia. If the latest reports are to be believed, however, international student arrivals are still some way off. This could be partially responsible for the continued slump in the A2 Milk share price in the short term.

More reading

• Is it time to get your hopes up for the A2 Milk (ASX: A2M) share price?
• Why the Bubs (ASX:BUB) share price is up 5% today
• Pivoting from infant formula, what’s next for the Jatcorp (ASX:JAT) share price?
• Is there more pain ahead for the a2 Milk (ASX:A2M) share price?
• Is the A2 Milk (ASX:A2M) share price too cheap to ignore?

Motley Fool contributor Marc Sidarous has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended A2 Milk and Blackmores 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 0.3% to 6,996.9 points.

Four ASX shares that are climbing more than most are listed below. Here’s why they are charging higher:

BrainChip Holdings Ltd (ASX: BRN)

The BrainChip share price is up 19% to 63 cents. Investors have been fighting to get hold of the artificial intelligence (AI) technology company’s shares following the release of an update. According to the release, Taiwan Semiconductor Manufacturing Company has started volume manufacturing of BrainChip’s Akida AKD1000 neuromorphic processor chip for edge AI devices.

Dubber Corp Ltd (ASX: DUB)

The Dubber share price has risen 5% to $2.05. The catalyst for this was news that the call recording service provider has signed an agreement with video conferencing giant Zoom for its Unified Call Recording product. The company notes that the deal with Zoom provides businesses of all sizes with the ability to record calls for all users. After which, once the recordings are ingested by Dubber, businesses can enrich the content with AI delivering transcriptions, sentiment data, real-time search and more.

Galaxy Resources Limited (ASX: GXY)

The Galaxy share price has raced 5% higher to $3.42. This morning the lithium producer released an update on its Sal de Vida operation in Argentina. According to the release, the company has completed its feasibility study, with very positive technical and financial outcomes. The study confirms that Sal de Vida will be a globally competitive, low cost producer of battery grade lithium carbonate. As a result, the company will now move into the next phase with detailed engineering to commence on the plant and construction of the ponds commencing immediately.

Resolute Mining Limited (ASX: RSG)

The Resolute share price has jumped 14% to 53.5 cents. Investors have been buying the gold miner’s shares after the Ghanaian government restored the mining licence for the Bibiani Gold Mine. However, the government has stipulated that Resolute can no longer sell the asset to Chifeng Jilong Gold Mining. Resolute has agreed to do this and will now look at its options for the mine.

More reading

• ASX 200 up 0.6%: Zip rises, Resolute rockets, tech shares storm higher
• Here’s why the Resolute Mining (ASX:RSG) share price is surging 20% higher today
• Why the Dubber (ASX:DUB) share price is breaking out into record highs
• Why the BrainChip (ASX:BRN) share price is rocketing 27% higher today
• Why the Galaxy Resources (ASX:GXY) share price is on watch

James Mickleboro owns shares of Galaxy Resources Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Dubber. 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 trading almost 20% higher today at 7.9 cents. In earlier trade, shares in the company were up by more than 27% after hitting an intraday high of 8.4 cents. DigitalX shares have also surged nearly 30% this week after hitting a low of 5.9 cents on Monday.

Let’s take a look at why the company is having such a stellar week. 

What’s fuelling the DigitalX share price?

Early yesterday, DigitalX provided shareholders with a monthly update as at the end of March 2021. The announcement highlighted the company’s funds under management and the value of its Bitcoin (CRYPTO: BTC) related assets.

DigitalX noted a record balance of Bitcoin and digital assets of $35.2 million as at 31 March. In addition, it highlighted a 30% growth in funds under management to $31.9 million.

The company also declared a 28.39% growth in its Bitcoin fund and 25% growth in its DigitalX fund for the month. Given the substantial growth in Bitcoin and digital assets, Digital X intends to provide the market with monthly updates.

About DigitalX 

DigitalX is a tech and investment company focused on blockchain consulting and digital funds management. The company’s consulting arm designs and develops blockchain technology applications for businesses. In addition, DigitalX also offers low-cost traditional asset management products for investors who want exposure to digital assets.

Despite going on an initial tear early in the year, the DigitalX share price is trading around 20% lower in 2021. Shares saw significant interest from investors in early February after the company reported record monthly inflows. In addition, DigitalX noted an increase in exposure to Bitcoin and highlighted plans to increase exposure to the wider digital asset market.

In early March, the DigitalX share price saw another jump after the company successfully raised $8.8 million in capital. According to the company, the funds raised will be used to grow its funds under management as well as for developing and implementing its Drawbridge RegTech product. 

More reading

• What’s driving the Bitcoin price higher?
• Will this Nasdaq IPO send the Bitcoin price back to record highs?
• ASX 200 Weekly Wrap: ASX sees 7,000 points once more
• With the Bitcoin price up overnight your crypto Tesla just got cheaper
• Bitcoin’s price is down 8% from February’s highs. Is it time to buy the dip?

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 recommends 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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Motley Fool CIO Scott Phillips joined ABC Nightlife to chat to Philip Clark about the challenges and opportunities of investing in a low-interest rate world.

In a wide-ranging chat, he and Betashares’ David Bassanese talked about shares, property — and, yes, Bitcoin — as well as taking calls from ABC listeners.

You can catch up on the ABC website, here, or download the episode as a podcast, here.

More reading

• The DigitalX (ASX:DCC) share price is up 30% this week
• This could be boosting the Kogan (ASX:KGN) share price today
• Top brokers name 3 ASX shares to buy today
• The Elixir Energy (ASX:EXR) share price is charging up today. Here’s why
• Why the St George Mining (ASX:SGQ) share price rocketed 60% on open

Motley Fool contributor Scott Phillips has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Kogan.com Ltd (ASX: KGN) is having a top day today. Although the S&P/ASX 200 Index (ASX: XJO) is up 0.5% today, Kogan shares are doing one better with a 3.83% gain. That puts the Kogan share price at $13.55, its highest level in over a month. 

Kogan shares have been enduring something of a fall from grace over the past 6 months or so. This company last peaked back in October at an all-time high of $25.57. But it has been downhill ever since then. Between 20 October and 31 March, Kogan lost more than 52% of its value. Even on today’s pricing, the shares are still down more than 46% from those highs.

So what’s going so right for Kogan today?

A new partnership for Kogan shares

Well, one potential catalyst is a new partnership Kogan has entered into. According to a report from PRWeb, Codisto, a private sales channel integration company, has just inked an agreement with Kogan for use of its Channel Cloud Plus enterprise solution. Codisto is a software company that specialises in sales channel integration software for e-commerce platforms in particular. It is already used by other e-commerce platforms like Shopify Inc (NYSE: SHOP), Amazon.com Inc (NASDAQ: AMZN) and Walmart Inc (NYSE: WMT). Channel Cloud Plus aims to simplify the process for sellers to list and manage products on online channels. 

Reportedly, Kogan.com’s online marketplaces will be integrating with Costido’s product. This, the two companies hope, will result in new channel of sellers being opened up for Kogan. Here’s some of what Kogan’s Lazar Monin, director of marketplace, had to say on the deal:

At Kogan, we’re dedicated to providing our sellers with the tools they need to deliver exceptional service from sale to delivery… Partnering with Codisto and their Channel Cloud Plus solution makes it easier for sellers to launch and grow their sales with Kogan by taking the time and complexity out of multichannel management. It’s a win for sellers and a win for our customers which means it’s a win for Kogan.

It’s not immediately clear that this announcement is what is driving up the Kogan share price today. It was made back on Monday after all. But Kogan shares have indeed been on the rise since Monday. In fact, Kogan shares are now up more than 7% over the past week or so. So clearly investors think Kogan is doing something right. Or perhaps the market has woken up and decided that the $12 a share that Kogan hit back on 3 March was just too low. Either way, today has been a great day for Kogan shareholders.

More reading

• ASX 200 up 0.6%: Zip rises, Resolute rockets, tech shares storm higher
• AMP (ASX:AMP) share price hits new 52-week low
• 5 things to watch on the ASX 200 on Wednesday
• ASX 200 rises, Zip (ASX:Z1P) flies, bank ratings upgraded
• 2 outstanding ASX tech shares to buy

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon and Shopify and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd. The Motley Fool Australia has recommended Amazon. 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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