Tag: Motley Fool

Buying travel shares such as Qantas Airways Limited (ASX: QAN) while the outlook for the pandemic remains unclear?

While that may sound like a higher risk investment than sticking with market darlings such as buy now, pay later (BNPL) powerhouse Afterpay Ltd (ASX: APT), Vince Pezzullo, deputy head of equities at Perpetual Investments, explains why Perpetual bought – and continues to hold – Qantas shares.

The case for Qantas

Following the COVID-fuelled market rout last year, the majority of S&P/ASX 200 Index (ASX: XJO) shares rebounded strongly from the 2020 March lows.

If you had spare cash and managed to capitalise on the rebound, good on you.

But Pezzullo explains why it’s important for investors to look beyond this cyclical rebound (quoted by the Australian Financial Review):

You need to be focusing on the businesses where it’s not just about the cyclical recovery. Look for the second leg, which is, ‘how has management taken advantage of a pretty quick and material slowdown to rationalise the business?’ Qantas is one of them, they’ve basically realigned the entire business very quickly.

That realignment came along with Qantas’ $1.4 billion capital raising last year. And, according to Pezzullo, that raising made the stock a more attractive investment. “That’s one of the stocks we haven’t owned for a long time. We were a bit nervous about the balance sheet [but] once they did the raising that for us was a good enough reason.”

With massive government stimulus packages around the world supported by rock bottom interest rates and central bank quantitative easing (QE) programs, today’s investment climate is a different place than it was last year. The world now also has multiple coronavirus vaccines to potentially stamp out the pandemic. Which are just some of the reasons Pezzullo says your investment approach needs to evolve as well:

You really have to be on your toes now, so to speak, to ensure that you can take advantage of what may occur due to some of the actions in the last 12 months. That’s quite an open statement, but that’s what I’m suggesting: that doing the same thing as last year will not work for the next 18 months to two years.

Qantas share price snapshot

The Qantas share price, up 0.4% in intraday trading today, is down 2.7% so far in 2021.

Shares remain down 25.5% from 12 months ago, though the share price has soared 123.8% since the 19 March low.

Qantas pays an annual dividend yield of 2.8%, fully franked.

More reading

• What to expect from the Qantas (ASX:QAN) first half result
• Here’s why the Qantas (ASX:QAN) share price is soaring today
• ASX 200 down 0.7%: AGL & Origin sink lower, Qantas pushes higher
• 4 most trusted ASX companies (and the 4 least trusted)
• Alliance Aviation (ASX:AQZ) share price surges 13% higher on Qantas (ASX:QAN) deal

Motley Fool contributor Bernd Struben 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.

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In afternoon trade on Monday, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a solid gain. At the time of writing, the benchmark index is up 0.6% to 6,880.2 points.

Fours ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping lower:

Cann Group Ltd (ASX: CAN)

The Cann share price is down 3% to 64 cents after revealing that it has been the victim of a cyber security incident. According to the release, the cannabis company has recently made payments of approximately $3.6 million to an overseas contractor. These payments were in relation to works being undertaken for Cann’s Mildura facility. However, those payments have been received by an unknown third party as a result of a complex and sophisticated cyber fraud.

Creso Pharma Ltd (ASX: CPH)

The Creso Pharma share price is down almost 5% to 20 cents. This morning the cannabis company announced that it has brought the marketing and sales function of its cannaQIX product inhouse, taking over from its commercial partner Doetsch Grether in Switzerland. This follows a growing trend of direct inbound sales enquiries and interest in cannaQIX product.

LiveTiles Ltd (ASX: LVT)

The LiveTiles shares price is down 5.5% to 25 cents. Investors may be taking a bit of profit off the table after the software company’s shares jumped notably higher on Friday. That gain was driven by speculation it could be a takeover target. Though, LiveTiles has rebuffed this speculation, revealing that it isn’t in discussions.

News Corp CDI (ASX: NWS)

The News Corp share price has fallen 3.5% to $27.39. This also appears to be due to profit taking after a very strong gain last week. In fact, thanks largely to a very strong second quarter update, the media giant’s shares were among the best performers on the ASX 200 last week with a 16.9% gain.

More reading

• ASX 200 up 0.6%: Vocus rockets, Zip surges, & Treasury Wine rebuffs speculation
• Why the Cann (ASX:CAN) share price is crashing 10% lower today
• Why the News Corp (ASX:NWS) share price is at multi-year highs
• ASX 200 Weekly Wrap: RBA unleashes ASX’s inner animal
• These were the best performing ASX 200 shares last week

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 LIVETILES FPO. The Motley Fool Australia has recommended LIVETILES 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 Cann, Creso, LiveTiles, & New Corp shares are tumbling lower today appeared first on The Motley Fool Australia.

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At lunch on Monday the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a solid gain. The benchmark index is up 0.6% to 6,882.2 points.

Here’s what is happening on the market today:

Vocus takeover approach

The Vocus Group Ltd (ASX: VOC) is rocketing higher today after being the subject of a takeover approach. The telco has received a confidential non-binding, indicative proposal from Macquarie Infrastructure and Real Assets (MIRA) and its managed funds. According to the release, MIRA has made an offer of $5.50 per share. This represents a 25.5% premium to its last close price. Vocus has granted MIRA with due diligence access.

Zip surges higher

The Zip Co Ltd (ASX: Z1P) share price is surging notably higher on Monday. This appears to have been driven by speculation that the company could be considering a secondary listing in the United States. This is expected to give the buy now pay later provider greater access to US capital markets. According to the AFR, management will spend the next few days in front of US investors. It will no doubt be highlighting the meteoric growth of its US based QuadPay business.

Treasury Wine demerger speculation rebuffed

The Treasury Wine Estates Ltd (ASX: TWE) share price is pushing higher today despite rebuffing speculation that it is planning to split into three separate entities. The wine company advised that it “has formally paused work on a potential demerger of its Penfolds brand, and further that it is not currently considering a demerger of any brands/businesses within its portfolio.”

Best and worst ASX 200 performers

The best performer on the ASX 200 on Monday has been the Vocus share price with its 14% gain. This follows the aforementioned receipt of a takeover approach. The worst performer has been the News Corp (ASX: NWS) share price with a 3.5% decline. This appears to be due to profit taking after a particularly strong gain last week.

More reading

• Why Argosy Minerals, Sigma, Vocus, & Zip shares are charging higher
• Treasury Wines (ASX:TWE) share price lifts amid media speculation
• Why the Vocus (ASX:VOC) share price is zooming 19% higher today
• Why the News Corp (ASX:NWS) share price is at multi-year highs
• Why the Pinnacle (ASX:PNI) share price rocketed 25% last week

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 ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates 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.

Nike Inc (NYSE: NKE) has been a consistent winner for shareholders over the years. Even though the sneaker giant is approaching $40 billion in annual revenue, the swoosh just keeps growing. 

Over the last five years, the stock has more than doubled in value, but what we want to know is this: Can Nike sustain its momentum long enough to turn a small investment into a million dollars? 

Nike’s past returns and growth

The first thing to consider is Nike’s historical rate of return. Since the company has had a very similar main product line throughout the nearly 50 years it has been selling shoes under the Nike trademark, we shouldn’t expect the stock to deliver a higher return than it has historically.

A $10,000 investment in Nike stock in 1990 would have grown to be worth $1.58 million today, including dividend reinvestment. 

NKE Total Return Level data by YCharts

Keep in mind, Nike was growing revenue much faster in the 1990s than it is today. In fiscal 1995, revenue grew 25%. At the time, revenue had climbed fivefold over the previous 10 years from fiscal 1985. 

Since fiscal 2010, Nike’s revenue has only doubled, reflecting a slowing growth rate as Nike’s business gets larger. 

The important thing to remember is that, while stocks can do anything in the short term, there is a high correlation between a company’s growth in profits and the stock price return over a long period of time.

Nike’s long-term goal is to grow revenue at a high-single-digit rate and grow earnings per share (EPS) in the mid-teens range. If Nike can sustain that level of earnings growth over 30 years, it’s certainly possible that a $10,000 investment could be worth more than $600,000 in 30 years.

Any company that is growing over a long period of time can deliver massive gains if you hold the stock long enough. That’s the beauty of compounding interest, and why stocks are great wealth-building tools.

Nike’s revenue target is a reasonable goal given that the athletic apparel industry continues to show signs of expansion. Other fitness brands like lululemon athletica and Peloton Interactive are also showing strong growth. One estimate placed the sports apparel market at $167 billion in 2018 and expected to reach $248 billion by 2026.

Nike has been growing in line with the industry. Between fiscal 2016 and fiscal 2019, Nike grew revenue at a compounded rate of 6.5%, but revenue growth was accelerating above that rate in fiscal 2020 right before the pandemic hit. Earnings per share didn’t grow as much over those three years due to investments to support the digital business’s growth. 

If Nike can deliver on its long-term outlook, you could turn a small investment into a million bucks, or at least get within striking distance. Here’s how Nike can deliver.

Nike’s strategy

Nike’s investments in the direct-to-consumer business are laying the foundation for improving margins and growing profits. 

The swoosh remains a hot brand, driving explosive growth through Nike’s mobile apps, particularly SNKRS, where Nike drops highly anticipated sneakers in limited quantities that sell out quickly. For the fiscal second quarter ending in November, Nike reported that its mobile apps grew 200% year over year. 

Nike’s total revenue growth clocked in at 7% in the last quarter, excluding currency, consistent with management’s long-term target. Nike’s digital channel now makes up more than 30% of the business, and management sees it reaching 50% soon.  

Nike is now a digital-first company, and since digital sales generate higher profits than sales through wholesale channels, earnings per share should grow faster than Nike’s single-digit revenue target over the long term. This is why analysts are currently forecasting Nike to post annualised growth in earnings per share of 34% over the next five years. 

During the fiscal second-quarter conference call, CEO John Donahoe summed up the key drivers that should fuel this growth stock higher over time. “The structural tailwinds we’re seeing, including permanent shifts toward digital, athletic wear and health and wellness, continue to offer us an incredible opportunity,” he said. 

Not many consumer discretionary companies can sustain a mid-teens level of earnings growth over several decades, but I will never say never about any great business. Look at it like this: Nike has been around for about 50 years, and management is still talking about growing earnings at double-digit rates.

So, yes, Nike is a millionaire-making stock, but you must be willing to hold the shares for a long time.

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

More reading

• Why the DroneShield (ASX:DRO) share price is climbing higher
• Why Argosy Minerals, Sigma, Vocus, & Zip shares are charging higher
• Why the Imdex (ASX:IMD) share price is leaping 9% today
• Treasury Wines (ASX:TWE) share price lifts amid media speculation
• What to expect from the a2 Milk (ASX:A2M) half year result

John Ballard owns shares of Peloton Interactive. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Nike and Peloton Interactive. The Motley Fool Australia has recommended Nike. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Could Nike be a millionaire-maker stock? 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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The DroneShield Ltd (ASX: DRO) share price is climbing higher today. This comes after the company announced that it had deployed its recently updated next-generation software.

At the time of writing, the DroneShield share price is trading up 2.9% to 17.5 cents.

What did DroneShield announce?

In this morning’s release, the defence contractor started rolling out its newest artificial intelligence (AI) software to all existing customers’ systems.

Droneshield tested the machine learning/AI-based detection and classification software against unmanned robotic systems and other potential threats in electronic warfare fields. The company noted that it saw the updated software substantially improve on detection responsiveness and lower false positives. This led to faster speeds in detecting, classifying and tracking new threats from DroneShield systems.

The company highlighted its technological advantage through the use of lightweight machine learning architecture. Designed to run on low power FPGA (Field-Programable Gate Array) hardware, the system can operate in environments where power is limited. The chip can also operate far away from unsecured networks for long periods where security has been compromised.

The company stated that the new software package is compatible with all current DroneShield platforms. This includes RfPatrol, DroneSentry, and DroneSentry-X.

Words from the CEO

Commenting on the software, DroneShield CEO Oleg Vornik, said:

DroneShield customers receive regular software updates via enrolling into a Subscription-as-a-Service (SaaS) model at the time of purchase of their systems. Importantly, the software also has capabilities for deployment outside of the C-UAS space, on a hardware agnostic basis. DroneShield is currently engaging in such deployments with its Five Eye country military customers.

DroneShield share price review

Despite today’s rise, the Drone Shield share price is down almost 20% from 12 months ago.

The company’s shares took a steep dive in April, falling to an all-time low of 8.4 cents. Since then, its shares slowly began to turn around, moving on an upwards trajectory. However, in the last 6 months, the DroneShield share price has stabilised around the late teens.

Based on the current share price, the company has a market capitalisation of $68 million.

More reading

• DroneShield (ASX:DRO) share price lifts on contract update

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 S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and started the week strongly. In late morning trade, the benchmark index is up 0.6% to 6,880.3 points.

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

Argosy Minerals Limited (ASX: AGY)

The Argosy Minerals share price is up 3% to 16.5 cents. This morning the lithium-focused mineral exploration company announced the receipt of firm commitments to raise $30 million through a significantly oversubscribed placement. Management advised that it was supported by high quality institutional investors. This means the Rincon Lithium Project is now fully funded through to 2,000tpa lithium carbonate production and cash-flow generation.

Sigma Healthcare Ltd (ASX: SIG)

The Sigma share price has jumped 7% to 73 cents. Investors have been buying the pharmacy chain operator and wholesale distributor’s shares following the release of a trading update. That update revealed that Sigma has had a very strong second half. As a result, it expects to report operating earnings growth of over 35% for FY 2021. Management also spoke positively about its future growth.

Vocus Group Ltd (ASX: VOC)

The Vocus share price has surged 14% higher to $4.99 after confirming the receipt of a takeover approach. According to the release, the company has received a confidential non-binding, indicative proposal from Macquarie Infrastructure and Real Assets (MIRA) and its managed funds. MIRA has tabled an offer of $5.50 per share, which represents a 25.5% premium to its last close price. Vocus has granted MIRA with due diligence access.

Zip Co Ltd (ASX: Z1P)

The Zip share price has climbed 8.5% to $9.43. This appears to be due to speculation that the buy now pay later provider could be looking at a secondary listing in the United States. This would give the company greater access to US capital markets.

More reading

• Here’s why the Sigma (ASX:SIG) share price is surging 6% higher
• Why the Vocus (ASX:VOC) share price is zooming 19% higher today
• ASX 200 Weekly Wrap: RBA unleashes ASX’s inner animal
• 5 things to watch on the ASX 200 on Monday
• Could these exciting small cap ASX shares be the next big thing?

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 ZIPCOLTD FPO. 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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Imdex Limited (ASX: IMD) shares are leaping higher in early morning trade after the mining technology company released its results for the first half of the 2021 financial year (H1 FY21). At the time of writing, the Imdex share price has jumped 8.7% to $1.87.

What did Imdex report?

The Imdex share price is on the move after the company revealed this morning it will maintain its dividend despite a drop in revenue from the previous corresponding period.

Imdex reported revenue of $124.3 million for H1 FY21. That was 3% lower than the $127.7 million revenue figure for H1 FY20.

Earnings per share (EPS) of 3.42 cents also slid, down 28%. Net profit after taxes (NPAT) was $13.5 million, down 26% from the $18.2 million reported in the first half of 2020’s financial year.

Earnings before income, tax, depreciation and amortisation (EBITDA) was up 6% from H1 FY20, to $33.1 million.

The company also reported a 33% lift in cash from operations and an 84% increase in its net cash position, to $47 million.

Imdex declared a fully franked interim dividend of 1.0 cent per share (CPS).

Commenting on the results, Imdex CEO Paul House said:

Activity increased in the majority of our regions, underpinned by strong industry fundamentals. While COVID continued to disrupt operations it heightened demand for our cloud-connected technologies.

The uplift in earnings reflects three key factors: an increasing percentage of revenue from our higher margin rentals and software business; leveraging the benefits of our digital transformation; and our ongoing focus on streamlining operations.

The strength of our balance sheet enables us to accelerate targeted R&D in line with demand and leverage opportunities for acquisitive growth.

Looking ahead, House added:

While the short-term risks associated with COVID remain, we have a resilient business and a strategy focused on delivering sustainable earnings growth for shareholders.

The company pointed to strong commodity prices supporting its clients, and said resource companies and drilling contractors are turning to new technologies to increase productivity and safety.

Imdex share price snapshot

Incorporating this morning’s intraday gains, the Imdex share price is up 10% so far in 2021.

That compares to a 2.8% gain on the All Ordinaries Index (ASX: XAO).

Over the past 12 months, Imdex shares have gained 36.5% and more than 140% since the lows from 25 March last year.

More reading

• Top fundie names these 2 ASX shares as buys

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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The Treasury Wine Estates Ltd (ASX: TWE) share price has edged higher after an early morning announcement.

Shares in the Aussie wine maker and distributor are 0.25% higher at $10 in early trade after the company response to ongoing media speculation around a potential demerger.

What’s happening?

There has been intense speculation in recent months regarding a demerger of one of Treasury Wines’ most recognisable brands. The group’s premium Penfolds wine label was rumoured to be under review by Penfolds.

That includes suggestions in a 7 February article in The Australian that Treasury Wines was investigating a demerger of its global operations into three separate businesses.

However, today’s announcement has provided some further context for shareholders. Treasury Wines confirmed that it has “formally paused work on a potential demerger of its Penfolds brand”, as noted at its November annual general meeting.

Treasury Wines is “not currently considering a demerger of any brands/businesses within its portfolio”, the company added. The company continues to assess internal operating models to deliver “long term value”. That includes “separating focus across its brand portfolios” which hints that there could be more changes to come.

The Treasury Wines share price has lifted slightly on the news in early trade. That comes as the S&P/ASX 200 Index (ASX: XJO) edges 0.3% higher to start the week’s trade.

How has the Treasury Wines share price performed recently?

The Treasury Wines share price has been under pressure in the last 12 months. The coronavirus pandemic and March 2020 bear market saw the company’s value plummet lower.
That broad market weakness was compounded by ongoing trade tensions with China.

China is a major wine purchaser and a lucrative market for Treasury Wines, including its Penfolds brand. However, there has been rising concerns over counterfeit labels and increasing tariffs for Aussie wines.

That has seen shares in the Aussie wine group slump 15.3% in the last 12 months.

More reading

• Why the News Corp (ASX:NWS) share price is at multi-year highs
• Why the Pinnacle (ASX:PNI) share price rocketed 25% last week
• Oil’s recovery is happening faster than you think: Citigroup
• Afterpay (ASX:APT) share price cracks $151 record high
• 2 ASX 200 shares to buy for income

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates 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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With earnings season now underway, I have been looking at what is expected from some of Australia’s most popular companies.

On this occasion, I’m going to take a look a struggling infant formula and fresh milk producer A2 Milk Company Ltd (ASX: A2M).

What is expected from A2 Milk Company in the first half?

The former market darling is expected to have struggled during the first half of FY 2021 due largely to weakness in the daigou channel.

As a result, analysts at Goldman Sachs are forecasting a sharp decline in both sales and earnings for the period.

According to the note, the broker expects a2 Milk to deliver first half revenues of NZ$676.6 million. This will be a 16% decline on the prior corresponding period. This is despite Goldman expecting direct sales into China/other Asia growing 25.3% to NZ$397.3 million during the half.

And due to margin weakness, its analysts expect the company’s earnings to fall much harder. They are forecasting earnings before interest, tax, depreciation and amortisation (EBITDA) of NZ$178.8 million for the half. This will be a 32.9% decline on the first half of FY 2020.

Finally, on the bottom line, Goldman expects this to lead to a 36.7% decline in underlying net profit after tax to $119.1 million.

Goldman Sachs will also be paying close attention to its guidance for the full year. The broker is forecasting revenue of NZ$1,478.7 million and EBITDA of NZ$393.9 million for the 12 months. This will be a 14.6% and 28.4% decline, respectively, year on year.

Is the a2 Milk share price in the buy zone?

Despite the recent weakness in the a2 Milk share price, Goldman is still sitting on the fence with a neutral rating.

However, its price target of $12.09 does offer upside of over 17% based on the latest a2 Milk share price.

A2 Milk is scheduled to release its half year results on 25 February.

More reading

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended A2 Milk. 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 Primary Hemp Ltd (ASX: APH) share price is racing up this morning following another retail distribution agreement.

Shares in the premium plant-based and wellness company are up 10.34% at 48 cents at the time of writing.

New retail distribution agreement

In this morning’s release, Australian Primary Hemp advised it has secured its second retail distribution agreement with Woolworths Group Ltd (ASX: WOW).

Under the deal, Australian Primary Help will supply its Mt. Elephant ‘mylk’ branded hemp and oat-milk products across 165 Woolworths stores. This includes its barista/original oat and hemp mylk, and chocolate oat and hemp mylk.

Both products will be available to consumers to purchase from April onwards.

It’s estimated that the new deal will generate around $250,000 per year for Australia Primary Hemp.

The company signed its first retail distribution agreement with Woolworths last month for Mt. Elephant baking products. That contract, which starts next month, is worth roughly $2.1 million.

A report published from Global Market Insights in October 2020 estimates that the global plant-based milk market will grow. Consumer taste is ever-changing with increasing demand for more healthier options other than soy or almond milk. Forecasts value the plant-based milk sector at $28 billion before 2026.

What did management say?

Australian Primary Hemp managing director and CEO Neale Joseph welcomed the new deal, saying:

This second agreement with Woolworths will expand the range of Mt. Elephant products being ranged in Woolworths stores and increase consumers’ choices for high-quality plant-based superfoods.

This is just the beginning for our mylk products, and positions APH strongly to open further doors to develop even more products as demand for plant-based milk grow.

We are immensely pleased with Woolworths’ choice to introduce even more Mt. Elephant products to consumers.

Our Mt. Elephant product range continues to gather commercial momentum, and APH continues to make significant progress in meeting the company’s commercialisation and distribution goals with this brand.

About the Australian Primary Hemp share price

The Australian Primary Hemp share price has soared more than 200% in the last 12 months. The company’s shares hit a low of 4.9 cents last March, but have since gathered steam. Its shares reached an all-time high of 62 cents just a few weeks ago in January.

Based on the current share price, Australian Primary Hemp commands a market capitalisation of $43 million.

More reading

• ASX 200 Weekly Wrap: RBA unleashes ASX’s inner animal
• 4 most trusted ASX companies (and the 4 least trusted)
• Got cash to invest? Here are 3 ASX shares to buy
• Woolworths (ASX:WOW) settles shareholders’ lawsuit for $44.5 million
• ASX 200 Weekly Wrap: Reality (and GameStop) finally hits ASX

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Woolworths 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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