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The Renergen CDI (ASX: RLT) share price is up this morning after the company published two releases this morning. First up, the helium and LNG producer made a trading statement this morning. The announcement acknowledges an expected reduction in loss per share for the current financial year.  Secondly, the company also published its quarterly activities and cashflow reports. This report included an update on its new vaccine transportation product.

The Renergen share price reached a high of $2.65 this morning, up 5% from its closing price yesterday. It has since dropped to $2.62 — still a 4% gain.

Let’s look closer at this morning’s news from Renergen.

Shareholder’s delight

The company announced this morning that this financial year’s loss per share and headline loss per share is expected to be significantly less than last financial year’s.

Additionally, Renergen stated the loss per share and headline loss per share for the current financial year is expected to be between 27.89 cents and 37.47 cents. This represents a decrease in loss of between 21.8% and 41.8%.

The loss per share and headline loss per share for the half-year ending on 28 February 2020 was 47.92 cents.

Renergen said the previous financial year’s loss per share and headline loss per share included one-off costs from debt and equity funding for the company’s IPO on the ASX. 

Cryo-Vacc 

Renergen also began its quarterly activities report by declaring its Cryo-Vacc is currently awaiting clinical validation, with results due in a matter of days.

Cryo-Vacc enables vaccines to be transported at extremely low temperatures for up to 30 days without any power supply. Powered by hydrogen, it’s lightweight and can transport 100 vaccine doses at temperatures of between -70°C and -150°C.  

Cryo-Vacc was only conceptualised in December 2020. Renergen is hoping to receive clinical validation will be granted and the product will be ready when South Africa’s COVID-19 vaccination tender is announced.

The company has partnered with DPD Laser locally, which is using Cryo-Vacc to support its customers participating in the tender.

Renergen Quarterly activities and cashflow report

The company also published its quarterly activities report, within which it spoke of its successful helium mining activities.

Many of the company’s mining activities have achieved their expected results or performed better than anticipated. Though, some of the company’s activities have been affected by logics delays caused by COVID-19 lockdowns.

Renergen share price snapshot

The Renergen share price is having a fantastic year on the ASX. Currently, it is up by 138.5% year to date. It’s also up by 142.9% over the last 12 months.

The company has a market capitalisation of around  $43.5 million, with approximately 117 million shares outstanding.

More reading

• Why Aristocrat Leisure, Opthea, PointsBet, & Spirit are storming higher:
• Zip Co (ASX:Z1P) share price up after announcing new partnership
• Here’s why the Thomson (ASX:TMZ) share price is climbing today
• ASX 200 jumps 1.35%: Zip inks deal with JB Hi-Fi, Suncorp’s flood update
• Here’s why the Pursuit Minerals (ASX:PUR) share price is frozen

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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The Commonwealth Bank of Australia (ASX: CBA) CommSec brokering platform tells us the ASX and international shares (almost always just US shares) that are the most popular with its Australian customers most weeks.

CommSec is one of the most popular share trading platforms for ASX investors. As a result, the data it gives us can be an interesting insight into the investing habits of the typical Aussie investor.

Yesterday, we looked at the most popular ASX shares last week. So here are the top 10 international shares CommSec users were buying last week. This week’s data covers 22-26 March. 

GameStop shares among most traded US shares on the ASX

1. Tesla Inc (NASDAQ: TSLA) – representing 5.6% of total trades with an 85%/15% buy-to-sell ratio.
2. GameStop Corp (NYSE: GME) – representing 4% of total trades with a 79%/21% buy-to-sell ratio.
3. Apple Inc (NASDAQ: AAPL) – representing 2.5% of total trades with an 77%/23% buy-to-sell ratio.
4. Nio Inc (NYSE: NIO) – representing 2.5% of total trades with a 74%/26% buy-to-sell ratio.
5. Palantir Technologies Inc (NYSE: PLTR) – representing 2.2% of total trades with an 88%/12% buy-to-sell ratio
6. AMC Entertainment Holdings Inc (NYSE: AMC)
7. ARK Innovation ETF (NYSE: ARKK)
8. Microsoft Corporation (NASDAQ: MSFT)
9. Alibaba Group Holding Limited (NYSE: BABA)
10. Churchill Capital Corp IV (NYSE: CCIV)

What can we learn from these trades?

We see a very familiar pattern with these shares. Once again, it’s Elon Musk’s company Tesla that takes out the top spot for last week. Tesla shares have had a very rocky start to 2021 and remain down 12.9% year to date, including down 11.5% over the past month. Yet many ASX investors are clearly seeing this weakness as a buying opportunity, given 85% of trades were buys. Tesla’s China-based rival Nio is also proving stubbornly popular, despite Nio shares falling more than 40% since 9 February.

The ultimate speculative company in GameStop is also continuing to prove its endurance. This company continues to show wild volatility that ASX investors are clearly trying to cash in on. GME shares are up 61.6% since 24 March, including a 7.4% bump last night.

Data company Palantir continues to be a presence in the top 5. Palantir has been hit hard in the tech sell off over in the US in recent months. This company’s share price is also down around 42% since early February, but 88% of Palantir’s traders are clearly viewing this as a buying opportunity.

We also see blue-chip tech companies like Apple, Microsoft and China’s Alibaba continuing to attract Aussie attention, despite being far more stable in price than most of the other shares on this list.

More reading

• Here’s why the Spirit (ASX: ST1) share price is up 5% this morning
• This company will make more electric cars than Tesla
• Are red-hot house prices good for ASX 200 shares?
• ASX banks are facing millions of cyber attacks each day
• Facebook poised to shoot 32% higher, says analyst

Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Sebastian Bowen owns shares of Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Alibaba Group Holding Ltd., Apple, Microsoft, NIO Inc., and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Palantir Technologies Inc and recommends the following options: short March 2023 $130 calls on Apple and long March 2023 $120 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.

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In early afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of writing, the benchmark index is up 1.6% to 6,845.9 points.

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

Aristocrat Leisure Limited (ASX: ALL)

The Aristocrat Leisure share price is up 4% to $34.97. This appears to have been driven by a broker note out of Credit Suisse this morning. In response to its virtual investor round table event, the broker has retained its outperform rating and lifted its price target by 10% to $38.00. Credit Suisse was pleased with the updates provided for both its land-based and digital businesses.

Opthea Ltd (ASX: OPT)

The Opthea share price has surged 12% higher to $1.60. This follows news that the biotech company has received an initial Pediatric Study Plan (iPSP) waiver from the US Food and Drug Administration (FDA) for OPT-302. The iPSP waver means Opthea will not have to conduct an additional study in the paediatric population.

PointsBet Holdings Ltd (ASX: PBH)

The PointsBet share price has stormed 4.5% higher to $12.81. This follows the release of a positive broker note out of Goldman Sachs this morning. According to the note, the broker has initiated coverage on the sports betting company with a buy rating and $17.50 price target. Goldman believes the company is well-placed to benefit from a US sports betting market which is expected grow by a compound annual growth rate of 40% through to 2033.

Spirit Technology Solutions Ltd (ASX: ST1)

The Spirit share price has jumped 8.5% to 38 cents. The catalyst for this gain was news that Spirit has acquired Nexgen for up to $50 million. This will be paid 70% in case and 30% in shares. According to the release, the acquisition of the data, security and voice products provider is expected to add over five thousand new B2B clients and generate $36 million in revenue. Approximately 80% of this is recurring. To fund the deal, Spirit has undertaken a $23.8 million institutional placement and increased its debt facility.

More reading

• ASX 200 jumps 1.35%: Zip inks deal with JB Hi-Fi, Suncorp’s flood update
• Here’s why the Spirit (ASX: ST1) share price is up 5% this morning
• The Opthea (ASX:OPT) share price up after receiving FDA approval
• Leading broker puts buy rating on PointsBet (ASX:PBH) share price
• 5 things to watch on the ASX 200 on Wednesday

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 recommends Pointsbet Holdings Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of SPIRIT TC FPO. The Motley Fool Australia has recommended Pointsbet Holdings Ltd and SPIRIT TC FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Zip Co Ltd (ASX: Z1P) share price is up today after the Buy Now, Pay Later (BNPL) provider announced a new partnership with JB Hi-Fi Limited (ASX: JBH).

At the time of writing, the Zip share price has retreated slightly, trading at $7.37, up 0.41%. JB Hi-Fi is also up 1.12%, trading at $52.33.

For comparative purposes, the S&P/ASX 200 Index (ASX: XJO), is up 1.03% while BNPL competitor Afterpay Ltd is up 0.1%.

Let’s take a closer look at today’s announcement.

JB Hi-Fi stores to accept Zip payments

The Zip share price is responding well to today’s news. In a statement to the ASX, Zip Co announced it will enter into a partnership with JB Hi-Fi.

Both JB Hi-Fi branded stores and The Good Guy stores will accept Zip payments from customers. Payments can be made both online and in-store.

Zip, like most BNPL providers, offers consumers the option to pay for items over four instalments, interest-free. Consumers are only charged late fees if payments are not made on time. Merchants, however, are slugged with fees several times higher than standard debit or credit card fees. Merchants are prohibited from passing on the fees to customers – the RBA has discussed banning this practice.

Today’s news comes just a day after Afterpay launched its latest tool for in-store purchases – Afterpay Card.

The partnership will begin in April 2021.

Management Commentary

Zip co-founder and COO, Peter Gray, said the following about today’s announcement:

We are delighted to partner with the JB HI-FI Group. We look forward to providing customers with choice at checkout, empowering them to own the way they pay at JB HIFI and The Good Guys. This strategic partnership provides Zip customers with access to even more of Australia’s favourite brands, further delivering on Zip’s mission to be the first payment choice everywhere and every day

Half-year results

Zip Co

For the months ending 31 December 2020, Zip recorded a 141% increase in total transaction value to $2.32 billion on the prior corresponding period (pcp). Revenue increased by 130% to $160 million on the pcp. The Zip share price fell heavily on the results.

Zip recorded a massive $455.9 million loss for the period.

JB Hi-Fi

During the FY21 half-year, JB Hi-Fi’s net profits increased by 86.2% on the pcp to total $317.7 million. Revenue was up by 23.3% for JB Hi-Fi Australia stores ($3.36 billion), 9.1% for JB Hi-Fi New Zealand (NZ $144.9 million), and 9.1% for The Good Guys ($1.45 billion).

Zip share price snapshot

Over 12 months, the Zip share price has increased 369.09%. A very tide return on investment for traders.

However, since hitting its record high of $14.53 in February, the company’s share price has dropped a massive 49.21%.

Zip Co has a market capitalisation of $4.1 billion.

More reading

• ASX 200 jumps 1.35%: Zip inks deal with JB Hi-Fi, Suncorp’s flood update
• 4 ASX shares with director buys this month
• Airtasker and Zip were among the most traded ASX shares last week
• Are red-hot house prices good for ASX 200 shares?
• Treasury (ASX:TWE) and Afterpay (ASX:APT) share prices on watch

Marc Sidarous has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Zip Co (ASX:Z1P) share price up after announcing new partnership appeared first on The Motley Fool Australia.

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The Thomson Resources Ltd (ASX: TMZ) share price is edging higher in late-morning trade. This comes after the company announced an update regarding its Webbs and Conrad silver projects. At the time of writing, the minerals mining company’s shares are fetching 11.75 cents, up 2.17%.

What did Thomson announce?

Investors are lifting the Thomson share price higher after the company provided the ASX with some positive news.

According to its release, Thomson has formally completed the acquisition of the Webbs and Conrad silver projects. This follows the recent shareholder approval obtained in the company’s extraordinary general meeting (EGM) on 29 March 2021.

As a result, Thomson issued the agreed 70 million ordinary shares with 50 million options to Silver Mines Limited (ASX: SVL). In addition, a payment of $800,000 was made, with another $269,000 as an equivalent to the cash bonds in place.

Currently, Thomson is in discussions with leading minerals and energy exploration consultancy firm, Global Ore Discovery. Both companies are working together to develop an exploration strategy as well as improved geological models for the acquired projects. Using these models along with historical drilling data, Thomson will calculate a new Joint Ore Reserves Committee (JORC) resource estimate.

The exploration strategy will seek to identify possible targets within the known mineralised area. The company believes that the structural logging of existing core and surface geology will guide to new drill hole planning.

Thomson noted that the Webbs and Conrad silver projects form an integral part of its ‘Fold Belt Hub & Spoke’ strategy.

Thomson executive chair David Williams commented:

It gives me great pleasure to formally announce the completion of the acquisition of the Webbs and Conrad Silver Projects following the approval gained from our valuable shareholders.

With the transaction complete Thomson can now turn its attention to calculating new JORC 2012 resource estimates for these projects, and importantly the integration of the projects into the larger Hub and Spoke Strategy as the Company builds towards our target of 100Moz of silver equivalent within our centralised processing hub.

Thomson share price summary

The Thomson share price has jumped by more than 480% in the past 12 months. The company’s shares hit an all-time high of 25.5 cents at the start of February.

Based on valuation grounds, Thomson commands a market capitalisation of around $40 million, with roughly 380.2 million shares outstanding.

More reading

• The Silver Mines (ASX:SVL) share price is lifting today. Here’s why
• The Thomson Resources (ASX:TMZ) share price crashes 10%

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

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At lunch on Wednesday the S&P/ASX 200 Index (ASX: XJO) is back on form again and storming higher. The benchmark index is up a sizeable 1.35% to 6,829.4 points.

Here’s what is happening on the market today:

Zip announces deal with JB Hi-Fi

The Zip Co Ltd (ASX: Z1P) share price is edging higher today after announcing a partnership with JB Hi-Fi Limited (ASX: JBH). According to the release, Zip will provide a fully integrated payments solution for both JB HI-FI and The Good Guys. This provides customers with the ability to shop, both in-store and online, and pay with Zip’s interest free BNPL payment solutions. The retailer has not previously offered BNPL options.

PointsBet jumps on broker note

The Pointsbet Holdings Ltd (ASX: PBH) share price is surging higher today after being the subject of a positive broker note out of Goldman Sachs. According to the note, the broker has initiated coverage on the sports betting company with a buy rating and $17.50 price target. Goldman explained: “We see PBH as well-placed to carve out a niche share of the burgeoning US sports betting market, which we forecast to reach US$39 bn at maturity, implying a robust 40% CAGR out to 2033.”

Suncorp update

The Suncorp Group Ltd (ASX: SUN) share price is rising today following the release of an update on its flood claims. The insurance giant estimates it will record $230 million and $250 million in payouts to customers as a result of the floods. This follows the lodging of 7,600 claims to Suncorp’s insurance arm as of midday yesterday. Positively, Suncorp stated that it has a comprehensive reinsurance program to help mitigate its exposure to the flood event and provide protection over the remainder of the financial year.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Wednesday has been the Unibail-Rodamco-Westfield CDI (ASX: URW) share price with a 6.5% gain. This follows a similarly strong gain by its European-listed shares overnight. The worst performer has been the Harvey Norman Holdings Limited (ASX: HVN) share price with a 4% decline. This morning the retail giant’s shares went ex-dividend.

More reading

• Zip Co (ASX:Z1P) share price up after announcing new partnership
• Suncorp (ASX:SUN) share price on watch after NSW flood update
• Over 1 in 4 Australians are investing in the ASX: report
• Leading broker puts buy rating on PointsBet (ASX:PBH) share price
• 4 ASX shares with director buys this month

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 recommends Pointsbet Holdings Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post ASX 200 jumps 1.35%: Zip inks deal with JB Hi-Fi, Suncorp’s flood update appeared first on The Motley Fool Australia.

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Pursuit Minerals Ltd (ASX: PUR) shares have been placed in a trading halt pending a capital raise. Earlier today the company released an investor presentation, detailing how the capital will be raised and how the funds will be used.

Pursuit share price halted

Following the close of Monday’s trading session, and at the request of the company, Pursuit shares entered a trading halt. The trading halt was expected to last until 1 April or until an announcement was made. Although the company released an investor presentation today, the company’s shares have so far remained halted. Pursuit noted that the raise will be managed by CPS Capital Group Pty Ltd. 

Today’s update comes after Pursuit revealed that highly prospective electromagnetic (EM) conductors are evident at the Phil’s Hill prospect in Western Australia. In an announcement released on Monday this week, the company noted that EM conductors were identified on three lines of data over a 900-metre strike.

Investor presentation

Today’s investor presentation to shareholders provided an overview of the company’s capital raise and also highlighted Pursuit’s highly prospective projects in Western Australia.

According to the investor presentation, Pursuit plans to undertake an equity placement to raise $5 million at 6.9 cents. The proposed raise price is a 21.6% discount from the company’s last trading price of 8.8 cents per share.

The company also provided investors with a corporate overview, noting a current cash holding of $1.4 million.

Pursuit further elaborated on its wholly-owned Warrior PGE-Nickel-Copper (PGE-Ni-Cu) project and the electromagnetic conductors identified at the Phil’s Hill prospect, located within the Warrior project.

The company also highlighted that it has applied for two exploration licences at its Combatant PGE-Ni-Cu project and that geochemical surveys are underway at its Gladiator Gold project.

About Pursuit Minerals

Pursuit Minerals is a mineral exploration company that focuses on developing PGE-Ni-Cu, Gold, vanadium and nickel projects. The company’s wholly-owned projects include; the Warrior PGE-Nickel-Copper project, Combatant PGE-Ni-Cu project and its Gladiator Gold project all located in Western Australia.

The Pursuit share price has surged by more than 2,800% in the past 12 months. A strong half-year report and various acquisitions and joint venture opportunities have fuelled the company’s share price. 

At the time of writing, the Pursuit share price remains in a trading halt, having last traded at 8.8 cents.

More reading

• Pursuit Minerals (ASX:PUR) share price rockets 22% higher today. Here’s why

Motley Fool contributor Nikhil Gangaram 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 Cleanspace Holdings Ltd (ASX: CSX) share price halved in value yesterday from $4.430 to $1.985 after its sales update significantly missed expectations. At the time of writing, the Cleanspace share price has fallen further to $1.91, down 4.03%. 

Why the share price got chopped in half

The market was quick to judge and also punish the Cleanspace share price. This comes after the company announced that it had experienced lower sales over the current quarter. In addition, Cleanspace is expecting Q3 FY21 sales to be approximately $7 million. 

While the initial outbreak of COVID-19 may have created tailwinds for the respiratory protection equipment (RPE) manufacturer, the opposite is now unfolding as the global vaccine rollout gains momentum. Additionally, customer and government spending constraints, and stockpiling of low-tech disposable masks have seen sales slow in the second half.

CleanSpace made its ASX debut on 23 October with a listing price of $4.41 per share. Its shares closed at $7.420 on its first day or a return of 68% for those that managed to participate in the initial public offering (IPO). 

Yesterday’s selloff would have sent IPO investors from break-even to losing half their investment at open. 

Is the CleanSpace share price on sale?

Bell Potter released an update for Cleanspace shares after the disappointing sales update. The broker retained a hold recommendation with a 12-month target price of $2.28, down from $6.75. 

The magnitude of sales weakness was significantly greater than Bell Potter and consensus expectations. The broker was forecasting $15 million in sales for Q3 FY21, compared to the announced $7 million. 

The broker’s commentary notes a high level of uncertainty in the short term as hospitals have diverted resources to vaccine rollout programs and away from new equipment purchases. As a result, Bell Potter anticipates “ongoing and longer-term sales weakness in the Hospital segment”. 

While the near-term may be bleak for the CleanSpace business, Bell Potter still views the company as a “quality business, with a differentiated product, and are positive on management’s expansion of the sales and marketing teams to drive improved sales”. In the long run, the broker expects a solid recovery and growth compared to current levels. 

More reading

• Why Blackmores, Cleanspace, PointsBet, & Treasury Wine shares are sinking
• Why the CleanSpace (ASX:CSX) share price is diving 50%
• These small cap ASX shares could be ones to watch in 2021

Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia has recommended CleanSpace Holdings 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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Warren Buffett has a long and successful track record when it comes to generating high returns from investing in the stock market.

One of the key reasons for his success could be his focus on buying companies with wide economic moats. In fact, this is one of his key tenets of investing and forms a large part of his investment strategy.

By adopting a similar approach, it may be possible to reduce risk and generate high returns over the long run.

Warren Buffett’s focus on economic moats

When buying a company, Warren Buffett has historically looked for businesses with a competitive advantage over their peers. He terms this an ‘economic moat’.

An economic moat is clearly very subjective. One investor may have a different viewpoint than another on whether a specific company enjoys a competitive advantage over its peers.

However, it often includes those companies which enjoy strong brand loyalty that means their customer base is more likely to stick with their products. Or, it could be a business that has a unique product that sets it apart from rivals.

Similarly, a business with a lower cost base than its rivals may be able to generate higher profitability in the long run.

Of course, Warren Buffett has many years of experience in identifying companies with wide economic moats.

However, by comparing the financial performance of companies, their track records in a variety of operating conditions and contrasting their business models, an investor may gain an insight into whether they have a competitive advantage over peers.

Economic moats and risk/reward opportunities

Warren Buffett’s focus on economic moats could increase his return potential. For example, a business with a loyal customer base may be able to charge higher prices for its goods.

Similarly, lower costs or a unique product may equate to higher margins. Over time, they can allow a company to command a higher valuation and rising share price.

Meanwhile, companies with economic moats may also offer less risk than their peers. For example, they may enjoy more robust demand during periods of weaker operating conditions. This may help to support their bottom lines and could make them more financially sound than their peers.

This point may be especially relevant amidst current economic difficulties that may persist beyond the short run.

Buying stocks with competitive advantages today

Due to the uncertain economic outlook, it may be more difficult than usual to follow Warren Buffett’s strategy of focusing on companies with economic moats. It remains unclear which sectors and companies will prosper in what could be a very different economy post-coronavirus.

As such, building a diverse portfolio could be more important than ever. In doing so, an investor can maximise their returns and limit risk over the coming years.

More reading

• Amazon and ABB partner to help push EV adoption
• Where next for the Treasury Wine (ASX:TWE) share price?
• Here’s why the Spirit (ASX: ST1) share price is up 5% this morning
• What is going on with the Rhythm (ASX:RHY) share price today?
• The FINEOS (ASX:FCL) share price is now 30% off its August highs

Motley Fool contributor Peter Stephens 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.

A collaboration between diversified industrial AbbVie Inc (NYSE: ABBV) and Amazon.com, Inc. (NASDAQ: AMZN) is likely to increase electric vehicle (EV) adoption among transportation companies and fleet operators.

That’s the key takeaway from the recently announced collaboration between ABB and Amazon’s cloud computing business, Amazon Web Services (AWS). ABB will bring its know-how in energy management and charging technology to AWS’ cloud technology, software, and analytics capability to create “a cloud-based digital solution for the real-time fleet management of EVs,” according to the press release.

The new solution will roll out in the back half of 2021 and use advanced data analytics and machine learning to optimize EV fleet performance. For example, it will enable fleet operators to manage the charging of their fleet in accord with optimizing routes for EVs.

Given the reality that an all-EV fleet will probably contain a range of vehicles, it’s likely that fleet operators will be looking for software to help them centrally manage a diverse set of EVs with different charging characteristics.

The ABB and AWS solution is intended to give fleet owners greater confidence in making the switch. For examples of how transportation companies are warming to EVs, consider that UPS has ordered 10,000 purpose-built EVs. Meanwhile, FedEx is committed to only buying EVs for its FedEx Express parcel pickup and delivery fleet by 2030. Management plans to have its entire parcel pickup and delivery fleet running on zero-emission EVs by 2040.

All told, the transition to EVs is real among fleet operators, and the ABB and AWS solution is likely to help accelerate it.

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

More reading

• Amazon scores a big NFL merchandise deal
• 2 top ASX ETFs to buy right now
• Amazon reportedly demands that delivery drivers submit to invasive biometric surveillance or be fired
• How to counter the ASX 200’s Achilles heel
• Why it’s a great time for ASX investors to buy US shares

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Lee Samaha 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 recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. 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.

The post Amazon and ABB partner to help push EV adoption appeared first on The Motley Fool Australia.

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

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