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The Whispir Ltd (ASX: WSP) share price has returned from its trading halt and is tumbling lower on Tuesday morning.

At the time of writing, the communications workflow platform provider’s shares are down 4% to $3.72.

Why is the Whispir share price tumbling lower?

This morning Whispir announced the successful completion of an institutional placement.

According to the release, the company has raised a total of $45.3 million via a placement to new and existing institutional investors at an offer price of $3.75 per share. This represents a discount of just 3.6% to its last close price.

This placement leaves Whispir with a pro forma cash balance of $54 million.

Why is Whispir raising funds?

The release explains that the proceeds from the placement will be used to accelerate Whispir’s growth strategy in its three key markets of Australia and New Zealand (ANZ), Asia, and North America, and capitalise on global digital transformation and automation trends.

It will also strengthen its balance sheet to provide the company with working capital flexibility.

Whispir’s CEO, Jeromy Wells, commented: “Since our IPO in June 2019, Whispir has been executing on its growth strategy, increasing ARR, revenues and customers within our mature ANZ business and growing operations in Asia and North America.”

“Digitisation tailwinds provide a significant opportunity for us to fast-track our product roadmap, delivering higher-value products to drive platform utilisation and adoption. Funds raised will also enable us to increase our presence within the competitive North American market, where we are targeting underserved SME and SMB organisations.”

Share purchase plan

In addition to the institutional placement, Whispir is seeking to raise up to $3 million through a share purchase plan. These shares will be offered to eligible shareholders at the same price of $3.75 per new share.

Though, with the Whispir share price currently trading below this price, demand for its share purchase plan may not be overly strong unless there’s an improvement between now and its closing date on 19 March.

More reading

• Top brokers name 3 ASX shares to buy next week
• Why Cochlear, Goodman, Lovisa, & Whispir shares are surging higher
• Why the Whispir (ASX:WSP) share price is surging 10% higher today
• 3 exciting small cap ASX shares to put on your watchlist
• Why the Whispir (ASX:WSP) share price is on the rise today

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 Whispir Ltd. The Motley Fool Australia has recommended Whispir Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the Whispir (ASX:WSP) share price is under pressure today appeared first on The Motley Fool Australia.

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In morning trade on Tuesday, the S&P/ASX 200 Index (ASX: XJO) is on course to record another solid gain. At the time of writing, the benchmark index is up 0.7% to 6,838.9 points.

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

Afterpay Ltd (ASX: APT)

The Afterpay share price is up 3% to $129.08 despite there being no news out of the payments company. However, a strong night of trade on the tech-focused Nasdaq index appears to have given the local tech sector a lift today. At the time of writing, the S&P/ASX All Technology Index (ASX: XTX) is up a sizeable 2.1%.

IOUpay Ltd (ASX: IOU)

The IOUpay share price is up 4% to 63 cents. Investors have been buying the Malaysia-based buy now pay later (BNPL) provider’s shares after it announced an agreement to provide iPay88 merchants and end-user customers with BNPL payment services. According to the release, iPay88 is the dominant online payments brand in Malaysia. In 2020, its merchants processed over 360 million transactions across its payment gateway network with a total transaction value (TTV) of approximately A$10 billion.

Liontown Resources Limited (ASX: LTR)

The Liontown Resources share price has jumped 12.5% to 49.5 cents. The catalyst for this was drilling results from its 100%-owned Moora Project in Western Australia. According to the release, Liontown’s drilling has returned outstanding high-grade assay results. The results are considered to be highly significant and represent an important breakthrough in the exploration of the Moora Project.

Redbubble Ltd (ASX: RBL)

The Redbubble share price has jumped 10% to $5.90. This also appears to have been driven by improving sentiment in the tech sector. In addition to this, bargain hunters may be swooping in after a very sharp decline from its 52-week high. This left its shares trading at an attractive level according to Morgans. The broker has an add rating and $6.64 price target on Redbubble’s shares.

More reading

• Why the IOUpay (ASX:IOU) share price is charging 13% higher today
• Here’s why the Afterpay (ASX:APT) share price fell 11% in February
• Leading brokers name 3 ASX shares to buy today
• Here’s how much Afterpay (ASX:APT) rival Klarna is worth now
• Why Afterpay, Austal, Reece, & Service Stream shares are racing higher

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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 Why Afterpay, IOUpay, Liontown Resources, & Redbubble are racing higher appeared first on The Motley Fool Australia.

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The Firefly Resources Ltd (ASX: FFR) share price is down 6.9% at 13.5 cents in early trade today, chopping into its gains of more than 11% at close yesterday.

The Firefly share price movement follows the gold miner’s announcement yesterday that it had received conditional approval to spin off its manganese focused subsidiary, Firebird Metals Ltd.

At its current share price, Firefly has a market capitalisation of $43.5 million.

What was in Firefly’s announcement?

The company expects shares in Firebird to begin trading under the ticker FRB in the week beginning 15 March 2021.

The pro-rata distribution of Firebird shares to Firefly shareholders will occur at 5pm (Western Standard Time) on 5 March. Registered shareholders will receive 1 share in Firebird for every 12 shares in Firefly they own. Anyone who holds fewer than 2500 shares in Firebird will see those shares automatically sold, commission-free.

Words from the managing director

Firefly managing director Simon Lawson welcomed the move, saying:

Firebird takes the Oakover Manganese Project, a non-core Firefly project with an established historic resource that will represent a low market capitalisation on [initial public offering] IPO…

The successful demerger and IPO of Firebird creates a standalone ASX-listed company with an EV of just over $10 million, offering huge upside as it unlocks the value of this high-quality manganese asset.

Manganese commodity price and forecast

According to the Royal Society of Chemistry, manganese is too brittle to be used as a metal on its own. As such, it is mostly used as an alloy to reinforce steel. Manufacturers use manganese steel for railway tracks, safes, rifle barrels, and prison bars.

The website Trading Economics lists the current commodity price of manganese ore at USD 31.25. Over the past year, manganese reached a low of US$27.90 in December and a high of US$46.39 in May. The website is forecasting the price of the ore to slightly decrease over the course of the year.

Firefly share price snapshot

This time last year, the Firefly share price was trading at 3 cents a piece. At its current price of 13.5 cents, that’s a 366% increase.

Historically, the picture is a little different, however. In January 2017, shares in the company were swapping hands for $1.17. In fact, in January 2011, the share price was an incredible $10.24.

More reading

• Lake Resources (ASX:LKE) share price rockets 19% on positive update
• Here’s why the Mesoblast (ASX:MSB) share price is tumbling lower today
• Did you know Piedmont (ASX:PLL) and Mesoblast (ASX:MSB) are listed on the NASDAQ?
• ASM (ASX:ASM) share price jumps as scoping study supports $45m plant build
• Why the IOUpay (ASX:IOU) share price is charging 13% higher today

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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The Lake Resources N.L. (ASX: LKE) share price is rocketing higher today. This comes after the company announced that it has received positive battery test results. In early morning trade, the lithium-focused mineral exploration company’s shares are up 19.4% to 46 cents. At the time of writing, the share price has retreated slightly to 38 cents. 

Let’s take a closer look at the announcement and what that means for the Lake Resources share price. 

What’s driving the Lake Resources share price higher?

The Lake Resources share price is on the move today as investor appear upbeat about the company’s prospects.

In this morning’s release, Lake Resources advised that it has received favourable test results for its 99.97% purity lithium carbonate. This is used in high-performance lithium-ion batteries.

Novonix Ltd (ASX: NVX) is a battery materials and technology company. Recently, it carried out test-work to compare batteries samples from tier 1 producers against Lake Resources. Novonix is well-regarded across the industry in providing high-precision battery testing equipment to tier 1 battery makers. Their client list includes Panasonic, Samsung, Bosch, Honda, Dyson, and others.

Novonix received commercial samples of NMC622 batteries from tier 1 producers. Additionally, with samples of Lake’s 99.97% purity lithium carbonate battery cells. Interestingly, it noted that when conducting a real-world comparison, Lake Resources’ product ended up on top. The results indicated improved capacity retention and better electrochemical behaviour in coin cells compared against the tier 1 producer’s batteries.

Consequently, Novonix will begin to ramp up its testing program to produce cells and batteries at a larger scale. However, it is expected that this will take a number of months to complete the process. Lake Resources stated that it will update the market when the results become available.

Management commentary

Lake Resources managing director Steve Promnitz hailed the test outcome, saying:

The results from Novonix demonstrate the high quality of Lake’s high purity lithium in batteries and future results are anticipated to reinforce the initial results. This provides electric vehicle makers and battery makers confidence around Lake’s product quality, which is particularly important given the increasing demand for a high purity product.

Lake is advancing the Kachi DFS amid a growing focus on sustainability and the need for a responsibly sourced product suitable for the supply chains of leading EV makers. With investor and industry engagement intensifying, Lake is in an excellent position to progress our product and unlock increased value for shareholders.

About the Lake Resources share price

The Lake Resources share price has accelerated in the past year, gaining more than 880%. While renewed investor sentiment within the battery industry has helped support the share price, the company has been making tailwinds. Just last month, the company’s shares rose close to 40%. This was on the back of the announcement of its shallow drill testing at its flagship Kachi Lithium Brine Project in Argentina.

Based on the current share price, Lake Resources commands a market capitalisation of close to $400 million.

More reading

• Why is the Novonix (ASX:NVX) share price in a trading halt today?
• Novonix (ASX:NVX) share price is powering up 18% today. Here’s why
• Why the Novonix (ASX:NVX) share price jumped 11% this morning
• Why Novonix, Recce, Singular Health, & Starpharma shares are storming higher

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 Mesoblast limited (ASX: MSB) share price has returned from its trading halt and tumbled lower.

At the time of writing, the biotech company’s shares are down 4.5% to $2.35.

This latest decline means the Mesoblast share price is now down 59% from its 52-week high of $5.70.

Why is the Mesoblast share price tumbling lower today?

Investors have been selling Mesoblast shares after it announced a US$110 million private placement led by a strategic US investor group. This includes one of the largest private operators of ambulatory surgical centres, SurgCenter Development.

According to the release, the company raised the funds via the issue of 60 million shares at $2.30 per share. This represents a 6.5% discount to the Mesoblast share price prior to its trading halt.

Following the completion of the private placement, Mesoblast will have pro-forma cash-on-hand of US$187.5 million.

In addition to the shares, the investors have also received warrants to acquire a further 15 million shares at a price of A$2.88 per share. This could raise a further A$43.2 million (US$34 million) on or before 15 March 2028.

The company also has a right to call on the funds at any time during the term. This is subject to the Mesoblast share price trading at $4.32 or higher for at least 45 consecutive days.

Management commentary

Mesoblast’s Chief Executive, Dr Silviu Itescu, was pleased with the investment.

He said “We are pleased to receive a strategic investment from the principals of SurgCenter Development, one of the largest private operators of ambulatory surgical centers in the US specializing in spine, orthopaedic and total joint procedures.”

“We expect the deep healthcare knowledge and expertise of this investor group will be of great benefit to the company. The network and infrastructure of surgeons and ambulatory centers operated by SurgCenter may provide unique synergies to facilitate development and market access for rexlemestrocel, if approved, in patients with chronic lower back pain.”

What will the proceeds be used for?

The release explains that private placement will provide financial strength for operational and regulatory initiatives across multiple products. This comes at a time when the company undertakes important late-stage meetings with the United States Food & Drug Administration (FDA) in the second and third quarters of this calendar year.

In addition, funds will be used to invest in the commercial supply of remestemcel-L ahead of potential approval for graft versus host disease in children and in optimised manufacturing for larger market opportunities.

Management also intends to use some of the proceeds for advancing manufacturing and the development of the rexlemestrocel-L platform to meet commercial objectives. This is for chronic heart failure and chronic low back pain due to degenerative disc disease.

More reading

• Did you know Piedmont (ASX:PLL) and Mesoblast (ASX:MSB) are listed on the NASDAQ?
• 5 things to watch on the ASX 200 on Tuesday
• These are the 10 most shorted shares on the ASX
• Why the Mesoblast (ASX:MSB) share price is on watch this week
• 5 things to watch on the ASX 200 on Monday

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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Some ASX shares are listed on more than one stock exchange, which is most commonly referred to as a dual listing. Companies opt to list on two exchanges to benefit from additional liquidity and greater access to capital. 

Piedmont Lithium Ltd (ASX: PLL) and Mesoblast Limited (ASX: MSB) are two examples of companies that are listed on both the ASX and Nasdaq Composite (NASDAQ: .IXIC). 

What do the 2 companies have in common? 

Piedmont is an emerging lithium company focused on the development of its 100%-owned Piedmont lithium project in North Carolina, United States.

The company is in its early days with a recent commencement of its definitive feasibility study for its planned 160,000 tonne output lithium spodumene concentrate operation. This study is expected to be completed by mid-2021. 

Mesoblast, on the other hand, is more of an investing household name and operates in the biotech sector. The company has a number of products in Phase 3 clinical trials to treat complex inflammatory diseases resistant to conventional standards of care. 

While the companies operate in completely different sectors, they do have one thing in common. Both are currently unprofitable. 

Piedmont aiming to become the ‘next’ US lithium producer 

Piedmont aims to leverage the next global mega-trend of electric vehicles and clean energy products. In September last year, the company entered into a sales agreement with Telsa Inc (NASDAQ: TSLA). The deal sees Piedmont making its first shipments in 2022-23, with a 5-year initial term. 

However, at present, the company has yet to sell anything out of the ground, let alone construct the plant required to dig and process spodumene concentrate. Piedmont is aiming to begin construction in the second half of 2021 and commence plant commissioning and production by 2022. 

To help it overcome the significant capital investment required to progress from being an explorer to a producer, the company successfully completed a listing on the NASDAQ.

Mesoblast continues to burn cash 

Mesoblast has a history of burning through cash and relying on additional capital raisings to stay afloat. 

The company’s portfolio of Phase 3 product candidates comprises:

• Remestemcel-L for the treatment of steroid-refractory acute graft versus host disease and for moderate to severe acute respiratory distress syndrome due to COVID-19 infection.
• REVASCOR for advanced chronic heart failure. 
• MPC-06-ID for chronic low back pain due to generative disc disease. 

The next step after Phase 3 trials would be to seek the US Food and Drug Administration’s (FDA) approval for commercialisation. 

NASDAQ listing to diversify capital raising

Both companies arguably have significant revenue potential should they be able to overcome their near-term challenges. However, additional capital may be needed on their road to profitability. 

By listing on the NASDAQ, both Piedmont and Mesoblast can diversify their capital raising activities, rather than being reliant only on the domestic ASX. 

More reading

• 5 things to watch on the ASX 200 on Tuesday
• These are the 10 most shorted shares on the ASX
• Why the Mesoblast (ASX:MSB) share price is on watch this week
• 5 things to watch on the ASX 200 on Monday
• Why is the Mesoblast (ASX:MSB) share price frozen?

Kerry Sun 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 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.

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The Australian Strategic Mtrls (Hldngs) Ltd (ASX: ASM) is in the spotlight this morning on its positive scoping study.

The Australian Strategic Materials share price surged 5.3% to $5.60 in early trade when the S&P/ASX 200 Index (Index:^AXJO) gained 0.8%.

The $633 million market cap materials group released its internal scoping study that found a strong financial rational to build a 5,200 tonnes per annum (tpa) metals plant in Korea.

Strong scope for ASM’s Korean plant

The study estimated the cost to build the plant at US$35 million to US$45 million and is forecasted to generate US$180 million to US$190 million in annual revenue.

This should translate to an earnings before interest, tax, depreciation and amortisation (EBITDA) between US$45 million and US$50 million a year.

The plant will produce high-purity neodymium iron boron powder and titanium powder using the company’s patented low-energy technology.

Final investment decision by mid year

On the back of this positive study, the board has pushed the button on a US$1.5 million detailed design engineering study.

This will provide a fully engineered scope of works and further refine capital estimates, which will help it make a final investment decision by June 2021.

Construction of the plant is expected to be completed by mid-2022. If all goes well, plant capacity will be expanded to 16,000tpa by the end of 2024 to meet potential demand from Korean manufacturers.

Expansion plans to help underpin ASM’s share price

“Korea is phase one. Once complete, this will provide the template for future ASM metals plants in other regions,” said the company’s managing director, David Woodall.

“We’ll now continue to progress our ‘mine to manufacturer’ strategy using our pilot plant furnaces in the second half of 2021, with the production of titanium and rare earth permanent magnet alloy powders.

“This will enable ASM to commence providing critical metals directly into the Korean manufacturing sector.”

ASX rare earth shares are the flavour of the month

Rare earths are hot property due to a double tailwind. These minerals are essential to manufacture electric vehicles and other technologies for decarbonising the world. Further, manufacturers are looking for supply outside of China, which has a near monopoly of rare earths.

This means foreign governments will be willing to provide grants and funding to ASX rare earth companies.

Australian Strategic Metals received US$4.5 million from the South Korean government in 2020 while the Lynas Rare Earths Ltd (ASX: LYC) share price is surging after securing US government funds for its plant.

More reading

• 5 things to watch on the ASX 200 on Tuesday
• ASX 200 recovers strongly, Austal floats higher, Fortescue drops
• These are the latest ASX shares to be hit by broker downgrades
• ASX 200 up 1.5%: Afterpay & Zip jump, Fortescue tumbles
• These were the worst performing ASX 200 shares in February

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The IOUpay Ltd (ASX: IOU) share price has been a strong performer on Tuesday morning.

At the time of writing, the Malaysia-based buy now pay later (BNPL) provider’s shares are up 13% to 68.5 cents.

Why is the IOUpay share price charging higher?

Investors have been buying IOUpay shares following the release of an announcement this morning.

According to the release, the company has entered into a Merchant Referral Agreement with iPay88. The agreement will see IOUpay provide iPay88’s merchants and end-user customers with BNPL payment services.

IOUpay advised that the two parties have entered into a one-year renewable term. Positively, there is no consideration paid by IOUpay to iPay88 for entering into this agreement.

What is iPay88?

The release explains that iPay88 is the dominant online payments brand in Malaysia.

In 2020, its merchants processed over 360 million transactions across iPay88’s payment gateway network with a total transaction value (TTV) of approximately A$10 billion.

This represents 50% of the total online transaction and payment market in Malaysia, as reported by iPay88 on 16 November 2020.

The iPay88 network currently services more than 45,000 online merchants and 20,000 in-store merchants in Malaysia. It also has operations firmly established across the South East Asian (SEA) markets of Indonesia, Philippines, Thailand, Vietnam, Cambodia, and Bangladesh.

What now?

IOUpay and iPay88 will commence integrating systems with BNPL payment processing capabilities in March. After which, the onboarding of merchants and approved customers is planned for April.

The release advises that the merchant onboarding and rollout will initially consist of selected priority merchants for quality control purposes.

IOUpay’s CEO, Mr Khong Kok Loong, commented: “iPay88 are the clear market leader in the online payments industry in Malaysia with a strong presence across South East Asia. We are delighted to be partnering with iPay88 in this landmark deal to rollout our BNPL offering to merchants and consumers and are committed to building a long term strategic relationship”.

More reading

• The IOUpay (ASX:IOU) share price is skyrocketing 30% today
• Why the IOUpay (ASX:IOU) share price crashed 13% lower today
• Why Chorus, Douugh, IOUpay, & Reliance shares are tumbling lower
• Why the Cirralto (ASX:CRO) share price is in a trading halt
• Why the IOUpay (ASX:IOU) share price is charging higher today

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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Are you a fan of small cap shares like I am? If you are, then you might want to look closely at two that are listed below.

Here’s what you need to know about them:

MyDeal.com.au Limited (ASX: MYD)

The first small cap ASX share to look at is MyDeal.com.au. It is growing online retail marketplace with a focus on furniture, homewares, and kitchen and bathroom products.

It has been growing very strongly over the last 12 months thanks to the accelerating shift to online shopping.

For example, during the six months ended 31 December, MyDeal reported a 217% increase in gross sales to $126.7 million and a 248% jump in revenue to $21.2 million. And while its gross margin softened slightly, its gross profit still grew at the very strong rate of 210% to $18.9 million.

Management advised that this was driven by a 205% increase in active customers to 813,764 and further improvements in repeat use. In respect to the latter, a total of 52.7% of second quarter transactions came from returning customers. This is up from 38.5% a year earlier.

One broker that was pleased was Morgans. It has retained its add rating and $1.70 price target on the company’s shares.

Nitro Software Ltd (ASX: NTO)

Another small cap ASX share to look at is Nitro Software. It is a growing software company which is helping to drive digital transformation in businesses around the world across multiple industries.

The key product in the company’s offering is the Nitro Productivity Suite. This solution provides businesses with integrated PDF productivity and electronic signature tools via a software-as-a-service and desktop-based software solution.

Late last month the company released its full year results and revealed annual recurring revenue (ARR) of $27.7 million. This was up 64% year on year and ahead of its upgraded guidance range of $26 million to $27 million.

Looking ahead, another strong year is expected in FY 2021. Management revealed that it expects FY 2021 ARR to be between $39 million and $42 million. This represents year on year growth of 41% to 51.6%.

This went down well with Morgan Stanley, which retained its overweight rating and $3.50 price target.

More reading

• Here’s why the Nitro Software (ASX:NTO) share price is tumbling lower
• Why the MyDeal (ASX:MYD) share price is tumbling lower today
• 2 buy-rated small cap ASX shares to watch
• 2 rapidly growing small cap ASX shares to buy
• 3 very exciting small cap ASX shares to watch

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

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

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

What happened

Another day, another big move for GameStop Corp (NYSE: GME) stock, which shot 18% higher on Monday on no news other than the momentum crowd on Reddit jawboning for higher highs.

So what

Unless you’ve just come out of a coma, you know the video game retailer’s stock has been especially volatile as traders piled into the shares to punish short-sellers who overplayed their hand by shorting more shares than were available to trade. 

The resulting massive short squeeze caused short-sellers to lose billions of dollars and triggered congressional hearings on what occurred.

While GameStop shares eventually returned from the stratosphere, they’ve remained elevated nonetheless. And one of the central players behind the brouhaha, Keith Gill, who’s known as Roaring Kitty and some other colourful handles, said he remains bullish on the company.

In fact, he may have set off the latest round of speculation as he announced he had doubled his stake in the retailer. The stock is up 150% since then.

Now what

Traders are still eager to rekindle the excitement that surrounded GameStop in the early days of the frenzy, so volatility will be the watchword for some time to come.

Trying to play such trends is a fool’s errand because the same forces that drove its shares higher the first time are not present now, and the fundamentals of the business don’t support such an elevated valuation. 

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

More reading

• Robinhood fires back at Berkshire Hathaway’s Charlie Munger over criticism
• Is the Reddit army planning another GameStop (NYSE:GME) short squeeze?
• Here’s why GameStop stock just exploded higher
• GameStop CFO resigns
• Reddit’s ‘Roaring Kitty’ doubled his stake in GameStop (NYSE:GME)

Rich Duprey 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.

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