Tag: Motley Fool

  • Why the Vection (ASX:VR1) share price has surged up 9% today

    miniature rocket breaking out of golden egg representing rocketing share price

    The Vection Technologies Ltd (ASX: VR1) share price has rocketed up today on news the software company has signed a deal for its software program, Trainer Creator.

    At the time of writing, the Vection share price has lifted 8.7% to an intraday high of 12.5 cents.

    What’s the deal?

    Vection announced it has made a pilot agreement with agri-food processing leader, Mutti SpA for its augmented reality (AR) program, Trainer Creator. 

    Mutti is a famous Italian tomato brand. Established in 1899, the company generated global revenue of €378 million (close to A$610 million) for 2019.

    Vection’s software program Trainer Creator – launched in June 2020 – enables machine operators and technicians to visualise tasks in AR through wearable technology or a smart device. This in turn allows a company to create real world operational efficiencies and cost savings.

    In today’s release, Vection advised it has entered an initial arrangement that will see Trainer Creator implemented within the first of 40 production lines operated by Mutti.

    The deal, valued at around $50,000, represents a first-time use of Trainer Creator by an agri-food company. Should the rollout be successful, it is expected that this will create further commercial opportunities for Vection.

    What did the managing director say?

    Vection managing director Gianmarco Biagi welcomed the agreement, saying:

    During the last 6 months, we have been experiencing a strong market interest for our augmented reality solutions and products, since the launch of Trainer Creator.

    Mutti represents a key client in a new vertical and a strong opportunity for further growth for the company, leading into 2021.

    Vection share price snapshot

    The Vection share price has accelerated over the past 12 months, gaining more than 400% for shareholders. Most surprisingly, while COVID-19 wreaked havoc on the ASX market, Vection barely fell, dipping to 1.5 cents in the March lows. The Vection share price was recorded at 2 cents the month prior.

    The company has a market capitalisation of $115.9 million on current prices.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    *Returns as of June 30th

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    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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  • Why the Redcape Hotel (ASX: RDC) share price is sliding today

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    The Redcape Hotel Group Pty Ltd (ASX: RDC) share price has slumped lower this afternoon after the group released a key trading update.

    At the time of writing, the Redcape share price is sitting 0.53% lower at 93 cents per share.

    Why is the Redcape Hotel share price sliding lower?

    The Aussie hotel group provided a trading update alongside its interim distribution, debt extension and acquisition news.

    According to the announcement, Redcape’s business is “performing strongly” as coronavirus restrictions continue to ease.

    Operating earnings before interest, tax, depreciation and amortisation (EBITDA) is tipped to increase, despite higher COVID-related compliance operating costs.

    Redcape is forecasting first half operating EBITDA to be $40–$40.5 million compared to $38.7 million in the first half of 2020. Distributable earnings is forecast to climb to $32–$32.5 million, up from $26.4 million in the first half.  

    The increased forecasts are due to a strong trading quarter for the Aussie pubs business. Redcape also announced an interim distribution of 1.83 cents per stapled security to shareholders.

    Redcape also provided an update on its financing and acquisition activities. The hotel group has secured an additional $100 million funding facility expiring in December 2025. That extends the weighted average maturity of the group’s debt to 4.1 years with total facilities of $600 million.

    The group is expecting gearing to be maintained within its targeted range of 35% to 45% for the full year ending 30 June 2021.

    Redcape also announced it has exchanged contracts to acquire the O’Donoghues Hotel. The pub is located in Emu Plains, New South Wales, with Redcape set to buy it for $30.5 million excluding transaction costs.

    It’s the latest part of Redcape’s strategy to grow sustainable distributions for securityholders in the long term.

    Redcape share price summary

    The Redcape share price has fallen 17.0% lower in 2020 to 93 cents per share. Shares in the pubs business are trading at a 45.7 price to earnings (P/E) ratio, and on current pricing the company has a market capitalisation of $513.5 million.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    *Returns as of June 30th

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    Motley Fool contributor Ken Hall 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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  • 3 of the best ASX shares to buy right now

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    When it comes to deciding which ASX shares are the best to buy right now, we investors sometimes get to cheat a little.

    Some of the top brokers in the world regularly publish buy recommendations. These recommendations aren’t always right of course. But no one is when it comes to the share market.

    So if you’re searching for the best ASX shares to buy today, here are 3 recent recommendations:

    Qantas Airways Limited (ASX: QAN)

    Qantas is a company we’d all be familiar with. We’re all also probably aware of the difficulties this company has faced in 2020.

    As an airline, Qantas had to adapt very quickly to a very challenging disruption to its entire business model. However, unlike its rival Virgin Australia, the company was able to keep afloat during the worst months of the coronavirus pandemic.

    Today, things are looking up for Qantas, despite some less-than-savoury recent news. Last week, the company announced that its budget brand Jetstar will exceed pre-COVID flight levels within 3 months.

    Broker Goldman Sachs is bullish on Qantas. It reiterated its ‘buy’ recommendation on Qantas shares with a 12-month price target of $7.05, implying upside of more than 45% on current prices.

    Domino’s Pizza Enterprises Ltd (ASX: DMP)

    Unlike Qantas, Domino’s Pizza was an actual beneficiary of the pandemic. It makes sense if you think about it. Many people do like to order pizza when they are in lockdown.

    Back in August, Domino’s reported that its network sales were up 12.8% year on year to $3.27 billion. Online sales did even better, rising by 21.4% to $2.36 billion. Domino’s also told investors that its earnings before interest and tax (EBIT) grew by 3.6% to $228.7 million and free cash flow increased by 90.7% to $161.9 million in FY2020.

    Goldman Sachs hasn’t failed to notice these positive trends. It recently upgraded its recommendation to ‘buy’ with a 12-month price target of $88 a share.

    Xero Limited (ASX: XRO)

    Finally today we have cloud accounting software company Xero.

    Xero has been an absolute beast share in 2020, with the Xero share price up more than 83% year to date, and up almost 150% since 23 March. Again, the pandemic has arguably helped Xero more than hindered it.

    Last month, Xero provided a half-year update for the 6 months to 30 September. It told investors that over that time, revenues grew by 21%, and subscribers by 19%. Xero’s earnings were turbocharged by these numbers, up 86% over the period. That has helped Xero to reach new all-time highs in recent weeks.

    But Goldman Sachs doesn’t think the stock has run its course just yet. It has recently slapped Xero with another ‘buy’ recommendation, with a 12-month price target of $157 a share. If Xero reaches that target, it would be another new all-time record for this tech star.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    *Returns as of June 30th

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    Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Xero. The Motley Fool Australia has recommended Domino’s Pizza Enterprises 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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  • Here’s why the Genex (ASX:GNX) share price has jumped 13% today

    rising asx share price represented by investor in hard had looking excitedly at mobile phone

    The Genex Power Ltd (ASX: GNX) share price jumped higher on news the company has started early work on the Kidston K2-hydro project.

    At the time of writing, the Genex share price is trading up 12.82% at 22 cents.

    Why did the Genex share price move?

    The power generation company advised it has started an early works program on its K2-hydro project in North Queensland after entering an agreement with Powerlink.

    The deal will see Powerlink develop a new 275kV transmission line connecting the K2-Hydro project to the national electricity market (NEM), which it will then own and operate.

    In preparation for the project’s construction phase, Genex has also started works associated with the Oaks Rush construction camp. The company will revamp the camp design for use as accommodation for up to 500 people during the construction phase, as well as longer term accommodation for employees.

    Genex is also refurbishing the Kidston Airstrip, which it has leased from the Ethridge Shire Council to support the K2-Hydro construction.

    What’s the K2-Hydro project anyway?

    K2-Hydro is the flagship project of the Genex-owned ‘Kidston Clean Energy Hub’. It’s basically a hydroelectric project that utilises two existing mining pits (Wises and Eldridge), as the upper and lower reservoirs.

    Given the significant potential water head differential that the pits offer, and the vast quantity of water the pits can hold, the project can support 2,000MWh of continuous power generation in a single generation cycle.

    Power generated will be sold directly into the NEM.

    About the Genex share price

    After today’s rise, the Genex share price has come full circle, back to where it started at the beginning of 2020.

    In its full year results as at 30 June, the company reported a net loss of $10.5 million, compared to a loss of $5.5 million in FY19.

    Genex commands a market cap of $112 million.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    *Returns as of June 30th

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    Motley Fool contributor Eddy Sunarto 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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  • Why the Regional Express (ASX:REX) share price has flown 5% higher today

    asx share price rise represented by red paper plane flying away from other white paper planes

    The Regional Express Holdings (ASX: REX) share price is up by 5.51% today, after the airline released a notice to shareholders this morning in advance of its annual general meeting.

    Contained in the notice was a request to shareholders to vote for the proposed deal with PAGAC Regulus Holding Pte Ltd (PAG) to fund its push into domestic city routes.

    A bit of backstory

    Regional Express (Rex) has predominantly been an air service provider for connecting cities to rural areas, and vice versa. However, since the collapse of Virgin Australia in April, Rex has been entertaining the idea of domestic flights from city to city.

    In May, Rex addressed the media speculation and stated that it was in discussions with several interested potential parties to provide the equity necessary for the endeavour.

    Since then, the airline has jumped numerous regulatory hurdles. The first being approval from the Foreign Investment Review Board (FIRB) needed for the investment from PAG.

    The second major step was acquiring a High Capacity Air Operator’s Certificate by the Civil Aviation Safety Authority. This makes Rex an approved regular public transport service provider.

    The last leg of the process is for shareholder approval for the funding arrangements of up to $150 million from PAG.

    The opportunity for Rex

    The airline industry is still in disarray from the impacts of COVID-19. Virgin Australia went into administration, and Qantas Airways Ltd (ASX: QAN) now finds itself in the crosshairs the High Court over ongoing disputes regarding the airline not providing sick, compassionate or carer’s leave for staff that had been stood down.

    Hence, now presents an opportunity for a well-capitalised entrant into the domestic airline market, and Rex is attempting to be exactly that.

    In Rex’s notice to shareholders today, the airline highlighted the following opportunities:  

    • favourable terms for the leasing of Boeing 737-800NG jets used for domestic services, 6 of which have been secured with more under consideration
    • a surplus of experienced flight and cabin crew in the Australian aviation market
    • historically low fuel prices
    • distressed economy favouring demand for quality services as affordable fares
    • a surplus of slots and gate space at airports located in Australian capital cities over the next 18 months.

    What next?

    Rex’s annual general meeting will take place on Friday 29 January 2021. By this point, we will know whether the shareholders have voted for or against the proposed funding from PAG.

    If approved, Rex will commence its flights between Australian capital cities on 1 March 2021, with the maiden voyages being between Sydney and Melbourne. Who knows, you might be booking your next flight with Rex.

    At the time of writing, the Rex share price is sitting at $2.01, putting the airline’s current market capitalisation at $209.84 million.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    *Returns as of June 30th

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    Motley Fool contributor Mitchell Lawler 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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  • Avecho (ASX:AVE) share price rockets 83% on milestone announcement

    man leaping up from one wooden pillar to the next signifying increase in asx share price OZ Minerals share price

    The Avecho Biotechnology Ltd (ASX: AVE) share price is beating the All Ordinaries Index (ASX: XAO) by a mile today. This comes as the company announced it has begun participation in Australia’s largest observational study of medicinal cannabis products.

    During late morning trade, the Avecho share price reached an all-time high of 3.9 cents. However, investors have been quick to take some profit off the table. At the time of writing, the biotech company’s share is swapping hands for 3.3 cents, still up a sizeable 83.3%. In comparison, the All Ordinaries Index has climbed 0.6% higher to 6,883 points.

    What did Avecho announce?

    According to its release, Avecho advised that it will commence the testing of its enhanced cannabidiol formulation in the CA Clinics Observational Study (CACOS). The clinical testing phase will look at the performance of its oral cannabidiol (CBD) TPM formulation in human patients.

    The CACOS study is seeking to recruit up to 3,000 people around the country through a network of medicinal cannabis clinics. During the trial, CACOS will provide patients with a questionnaire that will ask about side effects, dosage response, and remedy satisfaction.

    In previous studies, Avecho’s oral CBD TPM product demonstrated an increase oral bioavailability of CBD in animals. The company has now set itself up to collect feedback on product performance in human patients using medical cannabis for a number of treatments. This in turn will be compared against other commonly prescribed CBD products in the market.

    Avecho stated that it will begin enlistment and run the trial throughout next year, in a bid to capture as many patients as possible. 

    Words from the CEO

    Avecho CEO Mr Paul Gavin commented on the major achievement:

    The Avecho team is excited and optimistic about our plan to develop CBD products enhanced by our TPM technology.

    This trial is an important step in gathering real world evidence from patients. Entering into an existing trial framework provides Avecho with both cost and speed advantages. The observational trial design allows the product to be used in a range of indications, which may prioritise specific indications for further development, or eliminate indications where the treatment is less effective.

    Furthermore, Mr Gavin spoke about the recent Therapeutic Goods Administration (TGA) decision to reduce the maximum dosage of non-prescribed CBD products. He said:

    The down-scheduling of CBD is fantastic news for patients, but a 150mg dose is on the limits of efficacy for a range of indications. We believe increased bioavailability will be a key value driver that will positively differentiate our products in this growing competitive market.

    How has the Avecho share price performed in 2020?

    The Avecho share price has shot up over 700% in the past 12 months, reaching an all-time high today.

    After falling as low as 0.2 cents in March, the company has been gradually moving along an upwards trajectory. Avecho has a market capitalisation of $49.5 million on current prices.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    *Returns as of June 30th

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    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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  • Are we heading for a new ASX resources ‘supercycle’?

    The word BOOM written in captital letters on a bright yellow background, indication a major surge or refresh in ASX share price

    Any Australian of age would remember the ‘mining booms’ of the past 2 decades. This was the term referring to several periods over the 2000s and early 2010s when commodity prices were far above historical averages.

    Especially iron ore, coal, gold and oil. All commodities that Australia has a fortunate natural abundance of.

    Back in 2007 and 2011 especially, it was this ‘commodities boom’ that many economists have credited for keeping the economy afloat during the global financial crisis. As well as pulling the Australian economy out of the economic slump that followed.

    That’s why back in 2007, the big ASX resources companies like BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) were smashing all-time highs. In fact, Rio has never been at the heights that it reached in 2008 again. But it is getting awfully close of late.

    ASX resources shares have been some of the better performers on the S&P/ASX 200 Index (ASX: XJO) in 2020. Take Fortescue Metals Group Limited (ASX: FMG). It has surged more than 117% in value over 2020 so far. And BHP and Rio are approaching levels we haven’t seen in a decade. BHP shares themselves are up almost 183% since February 2015.

    A new ASX resources ‘supercycle’?

    So what’s going on here? Well, reporting in the Australian Financial Review (AFR) this week suggests we could be on the verge of a resources ‘supercycle’.

    The report states that BHP, Rio and Fortescue are responsible for half the gains of the ASX 200 in December so far, not bad considering the index is up 2.1% since the end of November.

    The AFR quotes AMP Limited (ASX: AMP)’s AMP Capital portfolio manager Dermot Ryan as saying: “These guys are making better margins than Louis Vuitton does on his handbags at the moment. The stimulus that’s coming in and the global synchronised recovery means we’re seeing higher commodity prices right across the board.”

    Mr Ryan notes that many dividend-hungry ASX investors are expecting bumper shareholder payouts from ASX resources shares in February next year, and are buying in to secure a piece of these cash flows:

    “Many of these producers are capable of paying out massive dividends so we’re expecting the potential for very large returns from this space. There’s potential for off-market buybacks too,” the AFR quotes him as stating.

    Luke Smith, portfolio manager at Ausbil Investment Management agrees. The AFR quotes him as saying:

    We think we’re entering the early stages of a multi-year bull cycle for resources and the backdrop is extremely positive… China’s economy is clearly very strong at the moment and when you combine that with the rest of the world, which is going to benefit from unprecedented stimulus, the backdrop is looking extremely compelling…

    Not only is it a windfall environment for commodities, it’s a windfall environment for investors too and the real winners at the moment are the shareholders.

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    Motley Fool contributor Sebastian Bowen 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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  • 3 ETFs for ASX investors to buy in 2021

    businessman holding world globe in one hand, representing asx etfs

    Exchange traded funds (ETFs) can be great additions to a balanced portfolio. This is because they give investors easy access to a large and diverse number of different shares that you wouldn’t ordinarily have access to.

    Due to their growing popularity, there are an increasing number of ETFs for investors to choose from. To narrow things down, I have picked out three ETFs that are popular with investors right now:

    BetaShares Asia Technology Tigers ETF (ASX: ASIA)

    The BetaShares Asia Technology Tigers ETF tracks the performance of the 50 largest technology and ecommerce companies that have their main area of business in Asia, excluding Japan. This includes giants such as Alibaba, Samsung, and Tencent Holdings. As these and the other companies in the ETF are among the fastest growing in the region and revolutionising the lives of billions of people, they have been tipped to generate strong returns for investors over the 2020s.

    BetaShares Global Cybersecurity ETF (ASX: HACK)

    The BetaShares Global Cybersecurity ETF aims to track the performance of an index that provides investors with exposure to the leaders in the global cybersecurity sector. This includes a number of cybersecurity giants and emerging players, such as Accenture, Cisco, and Cloudflare, Crowdstrike, and Okta. BetaShares notes that the cybersecurity sector is heavily under-represented on the ASX. This ETF ensures that Australian investors don’t miss out on the growing demand for these services.

    BetaShares NASDAQ 100 ETF (ASX: NDQ)

    The BetaShares NASDAQ 100 ETF gives investors exposure to 100 of the largest non-financial companies on the famous Nasdaq index. This includes some of the biggest and most iconic companies in the world. Among its holdings you’ll find the likes of Amazon, Apple, Facebook, Microsoft, Netflix, and Tesla. Given the quality of these companies and their very positive outlooks, the Nasdaq 100 ETF has been tipped as one that could generate strong returns for investors over the next decade.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    *Returns as of June 30th

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    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 BETA CYBER ETF UNITS and BETANASDAQ ETF UNITS. The Motley Fool Australia owns shares of and has recommended BetaShares Asia Technology Tigers ETF. The Motley Fool Australia has recommended BETANASDAQ ETF UNITS. 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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  • BNPL debutant Payright (ASX:PYR) share price tumbles 12% on IPO

    A businessman in front of a computer with his head on his hand in disbelief, indicating poor IPO or share price performance

    A new buy now, pay later (BNPL) player made its ASX debut today, listing its shares at an initial public offer (IPO) price of $1.20.

    Moments after the shares began trading, however, the Payright Limited (ASX: PYR) share price tumbled 17% to as low as $1.00. It has since recovered to $1.06, down 12%, at the time of writing.

    About the Payright IPO

    Payright was founded in 2015 by co-founders and current joint chief executive officers Myles and Piers Redward. Together, they have more than 30 years’ experience in the retail finance and payments sectors.

    Launching into a payments sector that is starting to get overcrowded, Myles Redward told Motley Fool earlier this week that Payright had a strong point of difference.

    He said his company targetted a different consumer compared to most other BNPL providers. Rather than using BNPL to buy clothing or small appliances, Payright users are paying for bigger purchases like home renovations, health and beauty, or even education fees.

    These purchases are usually between $1,000 and $20,000, with an average transaction value of approximately $3,000.

    Education contributes 34.1% of the gross merchant value that runs through the Payright system – the highest of any sector.

    Payright said its analysis indicates that 55% of consumers want a BNPL payment option for purchases exceeding $1,000, and 43% say having a BNPL option at or above this price-point would help them with budgeting.

    By the numbers

    According to the prospectus presented to investors, Payright has a network of approximately 2,400 merchants and more than 30,000 customers across Australia and New Zealand. 

    The company told investors that Payright has achieved significant growth in FY20, with revenue and gross merchandise value (GMV) increasing 188% and 64% respectively.

    The company’s customer base also rose by 115% for the same period.

    However, Payright is yet to make a profit, with losses in the last three fiscal years. In FY20, the company reported a loss of $8.1 million on a top line revenue of $9.85 million.

    The IPO raised $18.5 million, with the company issuing 15.4 million shares for an implied market value of $107 million.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    *Returns as of June 30th

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    Motley Fool contributor Eddy Sunarto 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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  • Why the Orthocell (ASX:OCC) share price has popped 6% today

    The Orthocell Ltd (ASX: OCC) share price is surging higher today. This comes after the biotechnology company received Australian market approval for its CelGro product. CelGro is a collagen scaffold that supports tissue reconstruction and repair, with a wide range of uses in orthopaedics, general, gynaecology and ENT surgeries.

    At the time of writing, the Orthocell share price is up 6% to 43.5 cents.

    What’s moving the Orthocell share price?

    Investors appear to be pleased with the latest news from the company, pushing the Orthocell share price higher.

    With the latest approval, Orthocell can now begin to supply and market CelGro in dental bone and tissue regeneration procedures. According to the company, the CelGro device provides distinct advantages in assisting surgeons in delivering better results. Orthocell is also seeking to gain authorisation for CelGro in nerve and tendon repair.

    The market approval follows a recent announcement by Orthocell that it successfully completed its Therapeutic Goods Administration (TGA) conformity assessment process. The regulatory application looked at the safety and performance of CelGro in dental bone and tissue regeneration procedures and reviewed the company’s management system and manufacturing process.

    What’s next for Orthocell?

    Further to the release, Orthocell said it’s now focusing on completing its application to the Prostheses List Advisory Committee for an inclusion on the prostheses list. This will enable the company to be reimbursed for its products by private health insurance agencies when patients have hospital cover. This application is expected to be submitted sometime before the middle of next year.

    With European and Australian markets now approved, the company’s next steps are to gain market entry into the United States. Orthocell hopes that use of CelGro in Australia and Europe will assist the United Stated Food and Drug Administration (FDA) to grant market access. The company is aiming to complete this target in the next calendar year.

    Mr Paul Anderson, Orthocell’s managing director, commented on the milestone achievement:

    Gaining Australian approval is a significant inflection point for our Company. This validates the CelGro platform technology with a respected regulator and positions us well to achieve further approvals for the manufacture and supply of CelGro in nerve and tendon repair – key growth areas for our business, responding to significant unmet need.

    Orthocell share price summary

    The Orthocell share price is 7% lower from this time last year. The company’s shares reached a low point in March, hitting just 18 cents. While the Orthocell share price has increased by 141% since, it’s still a fair way off its all-time high of 64.5 cents in October 2019.

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    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.

    The post Why the Orthocell (ASX:OCC) share price has popped 6% today appeared first on The Motley Fool Australia.

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