Tag: Motley Fool

The IDT Australia Limited (ASX: IDT) share price was on fire again on Monday.

The pharmaceutical manufacturing company’s shares were up as much as 67% to a multi-year high of 47.5 cents at one stage.

When the IDT Australia share price hit that level, it meant it was up 150% in the space of just two trading sessions.

The company’s shares eventually ended the day with a gain of 52.5% to 43.5 cents.

Why is the IDT Australia share price up 150% in two trading sessions?

Investors have been scrambling to buy IDT Australia’s shares following the release of a positive yet brief announcement at the end of last week.

That announcement revealed that the Australian Government’s Department of Health has been in touch with the company in respect to support in manufacturing COVID-19 vaccines.

According to the release, IDT Australia is now undertaking a feasibility assessment to assess the possibility of utilising its sterile manufacturing facility to supplement the production capability for a COVID-19 vaccine.

What next?

At this stage, no further details have been released. However, the company intends to provide the market with updates as and when additional information comes to hand.

Though, given its experienced team of specialists and world class facilities, the company appears well-positioned to help with the vaccine manufacturing.

But because of the unknowns, investing at this stage is very high risk. After all, nobody knows just how much revenue would be generated should the company be given a contract.

IDT Australia isn’t the only company that investors have been buying shares of for this reason.

The Probiotec Limited (ASX: PBP) share price has also risen strongly over the last two trading sessions.

Probiotec is a leading manufacturer, marketer, and distributor of a diverse range of prescription and over-the-counter pharmaceuticals, complementary medicines, and specialty ingredients. Investors may believe it could be called into action as well.

More reading

• Why COVID-19 is launching the IDT Australia (ASX:IDT) share price 65%

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 Probiotec Limited. 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 blue-chip nature of ASX 200 shares means that small to mid-cap shares are often overlooked for dividends. 

These ASX shares will be going ex-dividend this week. This means that investors who own or purchase the company’s shares before the ex-dividend date will receive its next dividend payment. The ex-dividend date will typically see the company’s share price open weaker to reflect the dividend paid. The larger the dividend paid, the greater the share generally falls on the ex-dividend date. 

Briscoe Group Ltd (ASX: BGP) 

Briscoe is a New Zealand based sporting and homeware retailer. The company announced solid earnings growth for the full year ended 31 January 2021 with revenue up 7.5% to NZ$701 million while net profit after tax increased 17% to $73 million. Briscoe will be going ex-dividend on Tuesday 23 March, for 13.5 cents per share. At its last closing price on Friday of $4.05, this represents a yield of 3.33%. 

Cash Converters International Ltd (ASX: CCV)

Cash Converters will be going ex-dividend on Wednesday 24 March, paying a distribution of 1 cent per share. This represents a yield of approximately 4%.

The embattled second-hand retailer and financial services provider has struggled against more tech-enabled competitors. The company’s 1H21 report saw a 31% decline in revenues to $98.4 million while operating net profit after tax declined 28% to $7.7 million. 

Lindsay Australia Ltd (ASX: LAU) 

Lindsay is an integrated transport, logistics and rural supply company with an extensive east coast network. The Lindsay share price has been in a steady decline since 2015, losing more than 25% in value. From an earnings perspective, the company has had relatively stable cash flows and dividends. Its most recent 1H21 report highlighted a 12.1% increase in earnings before interest, tax, depreciation and amortisation (EBITDA) to $26.1 million, reflecting continued cost controls and improving operational efficiency. 

The company will be going ex-dividend on Thursday 25 March for an interim fully franked dividend of 1.2 cents. This represents a yield of approximately ~3.2%. 

Vita Group Limited (ASX: VTG) 

Vita Group shares took a 30% dive on 11 February when Telstra Ltd (ASX: TLS) announced that it would transition its Telstra branded retail store network to a full corporate ownership model. This means that the current dealer agreement with Telstra will end by 30 June 2025. 

A significant proportion of Vita’s earnings are derived from its retail Telstra stores. In its 1H21 results, $307.8 million of its $323.7 million revenue came from information and communication technology (ICT) channels. Vita Group CEO Maxine Horne said the company “has been investing in the very attractive category of skin health and wellness for some time, thus creating a new growth opportunity for the group”. 

Vita Group will be going ex-dividend on Thursday 25 March, for an interim dividend of 5.6 cents. Its recent share price decline to 95 cents has propped up the yield to approximately 6%. 

Service Stream Ltd (ASX: SSM) 

Service Stream provides end-to-end life-cycle services such as design, construction and maintenance to utility and telecommunication asset owners, operators and regulators in Australia.

A reduction in telecommunication works in 1H21 resulted in a 17.7% decline in revenues to $409.9 million. Service Stream expects subdued trading conditions and COVID-19 related impacts to continue into the second half, with results approximately in-line with the first half.

The market has not been impressed by historically weaker earnings from Service Stream. The Service Stream share price is down more than 30% year-to-date, sitting at around 3-year lows. The company will be going ex-dividend on Thursday 25 March for an interim dividend of 2.5 cents.

More reading

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• ASX quarterly rebalance: HUB24 joins ASX 200, Brainchip into ASX 300
• Why Nuix, Hub24 shares are on watch
• 5 things to watch on the ASX 200 on Monday
• ASX 200 up 0.95%: Afterpay rises, Westpac’s APRA update, Qantas upgraded

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

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The Mercury NZ Ltd (ASX: MCY) share price was up by more than 5% today after the 100% renewable energy generator and retailer released its governance presentation. The Mercury share price has since pulled back slightly to be up 2.62% at the time of writing.

Mercury, which is 51% owned by the New Zealand government, acquired fellow energy provider Tilt Renewables (ASX: TLT) this month, with the aim to subsequently acquire its $770 million gross operations annually.

Mercury share price and earnings strong

Mercury shares have returned more than 60% over the past 12 months, with a price-to-earnings ratio of 33 and earnings per share of 14.21. Over the past 12 months, the Mercury share price has gone from $3.66 to its current price of $5.88. 

Mercury reported its earnings before interest, taxes, depreciation, amortisation and fair-value adjustments (EBITDAF) have increased by $36 million in half-year FY21 compared to the previous period, due to lifts in sales yields and trading gains. The company also reported its 13th year of ordinary dividend growth, increasing its interim dividend by 6.3%.

Mercury has managed to secure this growth despite a slightly falling generation due to a high-priced energy market, with sustained elevated wholesale prices across the industry.

The company says its slowly pivoting its focus away from retail customers towards the wholesale market due to these gains.

Flexibility focus in ASX renewable energy market

Mercury was formed in 1994 and currently operates nine hydroelectric generating stations on New Zealand’s Waikato river and five geothermal plants in Taupo. It recently sold renewable energy infrastructure interests in California.

The company completed an executive restructure in February and Mercury CEO Vince Hawksworth was keen to let investors know the company is focused on continual innovation in a rapidly evolving industry.

“We are undertaking process and operational changes aimed at enhancing efficiency and effectiveness and are reviewing both our long-term asset management plans and our customer strategy to ensure they are fit and flexible enough for such a dynamic environment,” Mr Hawksworth said.

“Guiding our evolution is our desire to balance the internationally recognised energy trilemma of ensuring that we achieve our sustainability goals, keep the lights on for New Zealanders and do this all at the least-cost for consumers.”

Mercury’s ASX gains today haven’t been replicated on the New Zealand exchange, where it’s down 1.2% today.

More reading

• Why the Tilt Renewables (ASX:TLT) share price is soaring 15% today
• Tilt Renewables (ASX:TLT) share price falls despite wind farm news
• The Mercury NZ (ASX:MCY) share price zaps up. Here’s why

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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This year, one of the best performers on the ASX market has been the Pursuit Minerals Ltd (ASX: PUR) share price.

The company’s shares have risen more than 290% year-to-date and an astonishing 2,800% in the past 12 months. This means for every $1,000 invested this time last year, it would now be worth $28,000.

That puts the comparative share price gains of market darling Afterpay Ltd (ASX: APT), for example (up 785% over 12 months), into a whole different light.

So, with no news coming out of Pursuit Minerals today, we take a closer look at what could be driving its gains.

What’s pushing the Pursuit Minerals share price higher?

There are a couple of possible catalysts that could be elevating the Pursuit Minerals share price. The most likely is its half-year report for FY21, which was released to the market mid-last week.

In its update to investors, Pursuit Minerals advised it has been actively engaged in assessing acquisition and joint venture opportunities.

In December, the company entered into a binding acquisition agreement to acquire a 593sq km tenant package known as the Warrior Project. This comprises an approved exploration licence and three licence applications over Calingiri East, Calingiri West, Bindi Bindi, and Wubin.

An airborne electromagnetic survey completed in early March identified high PGE-Ni-Cu targets over the area. Going off the initial preliminary results, contractors have now started six follow-up prospective targets around Calingiri East.

Furthermore, the company acquired the Gladiator Project in September last year, located 10km northwest of Laverton, Western Australia. The procurement involved 4 exploration licences. Pursuit Minerals conducted a small soil sampling program in December and received one significant result. Future drilling operations are being planned using historical downhole assays (chemical tests) and drilling reports.

Another possible catalyst could be investor hype on the much-anticipated full results from the airborne electromagnetic survey at the Warrior Project. While the data isn’t due until mid-April, it seems that investors are getting in early ahead of an expected bonanza result.

What does Pursuit Minerals do?

Established in 2007, Pursuit Minerals is a mineral exploration company that focuses on developing PGE-Ni-Cu, Gold, vanadium and nickel projects in Australia, Finland, Sweden, and Norway.

PGE-Ni-Cu stands for several different minerals. The first platinum group elements (PGE) consist of palladium (Pd), iridium (Ir), osmium (Os), rhodium (Rh) and ruthenium (Ru). Next on the list is nickel (Ni) and then copper (Cu).

The Pursuit Minerals share price is up 22% alone today, currently trading at 8.3 cents.

More reading

• Why the Mercury (ASX:MCY) share price is surging today
• Mineral Resources (ASX:MIN) share price falling despite good news
• Is the Sezzle (ASX:SZL) share price about to sizzle?
• Why the Suncorp (ASX:SUN) share price is tumbling lower today
• Why the Horizon (ASX:HRZ) share price rocketed 10% today

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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The Mineral Resources Limited (ASX: MIN) share price is falling today despite news of a maiden production. This afternoon, the mining services company announced the first iron ore production from its Wonmunna Iron Ore Mine in Western Australia’s Pilbara region.

The Mineral Resources share price is currently trading for $37.41, down 4.2% from Friday’s close.

Let’s look further into the company’s announcement.

Wonmunna Iron Ore Mine

The announcement of the mine’s maiden production comes only five months after Mineral Resources began breaking ground at the site.

Mineral Resources stated it plans for the mine to produce its approved 5 million tonnes per year run rate by 2021’s June quarter.

The company purchased Wonmunna from the Australian Aboriginal Mining Corporation Limited (AAMC) in September. Today, Mineral Resources reiterated that AAMC shareholders will receive a royalty in respect of the first 40 million dry metric tonnes extracted from the mine, as was a term of the transaction.

Mineral Resources stated the iron produced at Wonmunna will be used to underpin the company’s Utah Point Hub iron ore blend. It is intended that the blend will include tonnes from a number of the company’s nearby iron mines. 

Commentary from management

Mineral Resources managing director Chris Ellison said Wonmunna’s fast development meant the company “deliver[ed] what others thought to be impossible”. He went on to say:

It is the innovative design of our NextGen crushing plants and the agility of our people who make this happen.

Wonmunna’s development was completed on time and within budget. Once we ramp up Wonmunna to full production, the mine will provide permanent employment for 500 men and women.

This is a great outcome not just for MRL but also for AAMC’s shareholders, who will shortly receive their first royalty cheque from Wonmunna.

Mineral Resources share price snapshot

The Mineral Resources share price is currently down 2.76% year to date. However, if you bought Mineral Resources shares this time last year for $12.61, you’d be experiencing an incredible 196.67% return.

Mineral Resources has a market capitalisation of around $7.4 billion with approximately 188 million shares outstanding.

More reading

• Triple whammy hammers the Fortescue (ASX:FMG) share price today
• Is this a better way to buy into the ASX mining supercycle?
• Broker tips 30% upside for Mineral Resources (ASX:MIN) share price
• Morgan Stanley reveals some investment trends to watch 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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The Sezzle Inc (ASX: SZL) share price is an interesting proposition to think about considering the business is still seeing a very fast pace of growth right now.

Despite the business growth, Sezzle shares have actually declined by 28% over the last month.

How good was the Sezzle FY20 result?

Sezzle reported a number of different growth metrics for 2020 which showed rapid expansion of the business.

The 2020 underlying merchant sales (UMS) and total income increased by 250.8% and 272.1% year on year respectively.

Merchant fees, which represented 80.9% of total income for 2020, increased by 266.9% year on year.

Active consumers and active merchants reached 2.2 million and 26,700 respectively at 31 December 2020, representing year on year growth of 143.9% and 166.6% respectively.

Sezzle’s net transaction margin (NTM) was US$12.4 million in 2020, representing 1.4% of UMS. This was an increase from US$0.6 million in 2019 (which was 0.2% of UMS). The buy now, pay later company said that the improvements in the margin were due to the company’s improving consumer profile, which experienced favourable trends in repeat usage, frequency of purchases and overall payment performance.

What’s the latest?

Sezzle is looking forward to more growth in 2021 with active consumers reaching 2.4 million (up 5.7% month on month), active merchants growing to 29,200 (9.5% growth month on month) and UMS of US$117.8 million, representing a record month and 65.1% above the average monthly pace for 2020.

To support the next stage of growth, Sezzle has secured a new US$250 million receivables funding facility with Goldman Sachs Bank USA and Bastion Funding IV LLC to support the expansion of the business in the US and Canada. This 28-month facility expands the funding capacity, while lowering the cost of borrowing and extending the maturity further into 2023.

The company expects the UMS to achieve an annualised run rate to reach more than US$2.5 billion by the end of 2021.

Is the Sezzle share price going to sizzle?

According to the broker Ord Minnett, there’s a lot of potential growth for Sezzle shares over the next year with a price target of $11.50. That suggests a potential return of 40% if the prediction were to become true.

The broker was impressed by the fact that Sezzle overachieved in 2020 compared to the forecast numbers.

Sezzle’s market opportunity is large in the North American market, which is where Sezzle is predominately based.

Ord Minnett doesn’t think that Sezzle is going to make a profit in the next couple of years, but it is expecting revenue to continue to accelerate higher.

More reading

• The Afterpay Ltd (ASX:APT) share price on watch after launch in France, Spain and Italy
• Here’s why the Sezzle (ASX:SZL) share price is crashing 5% today
• Can ASX BNPL companies like Afterpay (ASX:APT) compete with Paypal?
• ASX 200 unmoved, Flight Centre soars, Afterpay keeps falling
• 2 small cap ASX shares that are growing rapidly

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Sezzle Inc. 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 Suncorp Group Ltd (ASX: SUN) share price is on course to start the week with a decline.

In afternoon trade the insurance and banking giant’s shares are down 2% to $9.93.

Why is the Suncorp share price under pressure?

Investors have been selling Suncorp’s shares on Monday following the terrible floods in New South Wales and South East Queensland this weekend.

With the two states battling the worst flooding in 60 years, investors appear to be expecting a significant increase in claims from Suncorp’s customers.

This afternoon Suncorp provided an update to the market on what is was experiencing on its side.

What did Suncorp announce?

According to the release, as of 10am this morning, Suncorp had received around 1,300 claims relating to the heavy rainfall and floods. But it is unlikely to end there, with the company expecting claims numbers to rise over the coming days.

However, it advised that it was too early to accurately estimate the ultimate number of claims it expects to receive, or the final costs in relation to the recent weather.

Positively, Suncorp has stressed that it has a comprehensive reinsurance program in place for FY 2021, with the full limits remaining available on its main catastrophe program and the dropdown aggregate covers.

It advised that the main catastrophe program has a maximum first event retention of $250 million and that its reinsurance program is further strengthened by an Aggregate Excess of Loss (AXL) protection. This provides $400 million of cover in excess of a retention of $650 million with an event deductible of $5 million. In addition, Suncorp’s FY 2021 natural hazard allowance is $950 million.

Suncorp’s CEO, Steve Johnston, commented: “Our thoughts are with communities contending with this weather and the emergency services personnel and volunteers who are putting themselves in harm’s way.”

“Our Customer Support Teams will be deployed to the most impacted regions when waters recede, and our affected bank customers can access our emergency relief package. Our customers can be assured that we’re committed to their recovery and we will be with them every step of the way,” Mr Johnston said.

More reading

• Morgans just added this ASX 200 share to its model portfolio

Motley Fool contributor James Mickleboro 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 Horizon Minerals Ltd (ASX: HRZ) share price is taking off today, currently up 5% to 10.5 cents after revving 10% higher in morning trade.

This comes after the gold miner announced the completion of a deal with fellow ASX gold share Orminex Ltd (ASX: ONX). The Orminex share price, up 14% in early morning trade, is currently down 7%.

What deal did Horizon report?

The Horizon share price is soaring after the company reported the completion of its acquisition of 50% interest in Orminex’s Penny’s Find gold project, located in Western Australia.

Horizon first announced its intended acquisition to the ASX on 30 November. This morning the company reported it had made the $1.5 million cash payment (funded from existing reserves) to Orminex. All other necessary conditions have also been met.

Horizon stated it would fund the first $1 million for pre-development operations. Thereafter costs will be split 50:50 with its joint venture (JV) partners.

Commenting on the acquisition, Horizon’s managing director Jon Price said:

Penny’s Find is a quality high-grade gold project with considerable work completed enabling an accelerated pathway to production with approvals and toll milling agreement in place for the first phase of development.

We look forward to working with the Orminex team and releasing the drilling results, updated resource model and mine optimisation and design work in coming months enabling a development decision in the September Quarter 2021.

Orminex non-executive director Dean Hely added:

Execution of the Joint Venture Agreement is a great step forward in fast-tracking the necessary technical works to enable commencement of development at Penny’s Find, with Orminex committed to utilising the A$1,500,000 received for future funding of this high grade, prospective underground gold mine.

Reverse circulation (RC) and diamond drilling have been completed “to infill a number of areas for improved JORC Classification”.

Horizon expects drilling assay results in the June quarter with an updated resource, maiden reserve and development decision forecast for the September quarter.

Horizon share price snapshot

The Horizon share price is up 120% over the past 12 months. That compares to a gain of 53% on the All Ordinaries Index (ASX: XAO).

Year-to-date, Horizon Minerals shares are down 8%.

More reading

• Leading brokers name 3 ASX shares to buy today
• Why the Dotz Nano (ASX:DTZ) share price is up 11%
• ASX stock of the day: Myer (ASX:MYR) share price comeback continues
• Top broker issues buy alert on Santos (ASX:STO) and these ASX energy shares
• Why Fortescue, Freedom Foods, QBE, & Singular Health are sinking

Motley Fool contributor Bernd Struben 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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With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

Three top ASX shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Fortescue Metals Group Limited (ASX: FMG)

According to a note out of Macquarie, its analysts have held firm with their outperform rating and $25.50 price target on this iron ore producer’s shares. This follows the announcement of a US$1.5 billion notes offering late last week. While half of the funds will be used to repay its existing US$750 million 2022 senior unsecured notes, the broker expects the rest to fund its Iron Bridge development and allow it to maintain its high payout ratio. In light of this, Macquarie is forecasting double digit dividend yields over the next two years. The Fortescue share price is trading at $19.12 this afternoon.

Incitec Pivot Ltd (ASX: IPL)

Another note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this agricultural chemicals company’s shares to $3.25. According to the note, the broker believes that Incitec Pivot’s shares are undervalued based on current and longer term forecast average fertiliser prices. These higher prices have resulted in the broker positively revising its earnings per share estimates for the near term. The Incitec Pivot share price is fetching $2.87 on Monday afternoon.

Temple & Webster Group Ltd (ASX: TPW)

Analysts at Morgan Stanley have retained their overweight rating and $14.00 price target on this online homewares and furniture retailer’s shares. According to the note, the broker accepts that its growth will slow when consumer habits revert back to normal post-pandemic. However, it still believes the company is capable of growing at a strong rate over the medium thanks to market share gains and greater online penetration. The Temple & Webster share price is trading at $10.22 today.

More reading

• Why Fortescue, Freedom Foods, QBE, & Singular Health are sinking
• Why the Fortescue (ASX:FMG) share price is sinking 5% today
• ASX 200 up 0.35%: Crowns surges, ANZ & CBA settle class actions
• ASX 200 Weekly Wrap: Inflation fears hold ASX down
• How to turn $20,000 into $650,000 in 5 years with ASX shares

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 Temple & Webster Group Ltd. The Motley Fool Australia has recommended Temple & Webster Group 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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Dotz Nano Ltd (ASX: DTZ) shares are on the rise today after the company announced its saliva-based COVID-19 testing kit has received approval for use in the European Union (EU). At the time of writing, the Dotz Nano share price is trading 10.91% higher at 30.5 cents.

By comparison, the All Ordinaries Index (ASX: XAO) is up 0.42%.

Let’s take a closer look at what the company announced.

Approval to sell testing kits in Europe

The Dotz Nano share price is racing today after the company advised the EU has granted it permission to use the CE Mark on its COVID-19 saliva testing kits.

The CE Mark is a requirement to sell medical products in the EU. Some EU countries will also have additional regulatory hurdles to clear. The pan-European governmental organisation previously granted Dotz Nano the right to use the CE Mark for its nasal swab testing kit.

With the company’s saliva-based kit, a sample of saliva is swabbed from the inside of a person’s mouth. After no longer than 17 minutes, the kit will indicate whether or not the test subject is carrying the novel coronavirus. This is much less intrusive than the nasal swab test, which involves one swab in each nostril, up to the sinus, and a swab of the recipient’s throat. The results are also many times faster than the nasal swab test. Nasal swabs must be sent to a lab for processing and can take up to 48 hours to deliver results. 

According to Dotz Nano, the kit has a 0% false-negative rate for saliva samples containing a viral load of at least 1,250 copies per millilitre (mL). Samples containing as few as 313 virus copies per mL will induce a false-negative rate of 30%.

The test does not produce false-positive results, according to the statement.

Europe is entering a third wave

The approval of the testing kit could not come at a better time for European citizens. According to the New York Times, Europe is entering a third wave of coronavirus infections. The rise in COVID cases comes at the same time many European nations suspended the use of the AstraZeneca vaccine over blood clotting fears.

France, Germany, Italy, Poland, Greece, Czechia, Spain, Belgium, Ireland, and many other EU nations are tightening restrictions on gatherings, businesses, and general movement in response to the increasing cases.

The testing kits may also be music to the ears of many Australians still stranded in Europe. It is currently a requirement of the Australian Government that anyone flying into the country must test negative to the virus at least 72 hours before departing.

Dotz Nano share price snapshot

Over the last 12-months, the Dotz Nano share price has increased a remarkable 662.5%. Today’s share price high is only half a cent off from the company’s 52-week record.

Dotz Nano has a market capitalisation of around $103 million.

More reading

• Why AnteoTech, Crown, Dotz Nano, & Galan Lithium are zooming higher

Motley Fool contributor Marc Sidarous 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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