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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed Wall Street’s lead and dropped deep into the red. At the time of writing, the benchmark index is down 0.75% to 6,963.3 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is down 4.5% to 75.5 cents. This is despite the lithium miner announcing a sales agreement with Sichuan Yahua for the sale of additional spodumene concentrate from the Finniss Lithium Operation. Broad weakness in the lithium industry due to pricing concerns has offset this news.

National Storage REIT (ASX: NSR)

The National Storage share price is down 4.5% to $2.40. This follows the completion of the storage company’s institutional placement this morning. National Storage has raised $300 million at a 4% discount of $2.41. The proceeds will be used to fund its strategic growth initiatives (committed acquisitions and developments), repay debt, and strengthen its balance sheet.

OFX Group Ltd (ASX: OFX)

The OFX share price is down 12% to $1.57. Investors have been hitting the sell button in response to a trading update. The money transfer company revealed that it expects to achieve its guidance in FY 2023. However, it appears to have spooked investors by revealing that economic uncertainty has led to a softening of demand in its high value consumer segment.

Polynovo Ltd (ASX: PNV)

The Polynovo share price is down 13% to $1.80. This follows news that its chairman, David Williams, has sold 4.75 million shares. The medical device company notes that these shares were sold so Williams could part settle a US property purchase. It also highlights that its chairman still holds 21,384,432 shares and does not intend to sell any more shares for the foreseeable future.

The post Why Core Lithium, National Storage, OFX, and Polynovo shares are dropping today appeared first on The Motley Fool Australia.

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More reading

• Why is the National Storage share price down 5% today?
• Core Lithium share price tumbles 4% on milestone sales agreement
• What was with ASX lithium shares today?
• This ASX 200 property share just announced a trading halt. What’s going on?
• Is the Core Lithium share price a buy at 84 cents?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Ofx Group and PolyNovo. The Motley Fool Australia has recommended Ofx Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Interested in bolstering your passive income portfolio with just one S&P/ASX 200 Index (ASX XJO) dividend share? Rio Tinto Ltd (ASX: RIO) could be worth considering.

The iron ore giant currently offers a notable 6.2% dividend yield. That means the stock could be capable of paying out $2,000 a month with a smaller initial investment than many of its ASX 200 peers require.

Here’s how I’d aim to build a strong monthly passive income by investing in high-yielding Rio Tinto shares.

I’d buy Rio Tinto shares for $2,000 of monthly passive income

Passive income is just that – income that comes without any active work on your part. I don’t know many people who would turn down the chance to earn $2,000 each month for doing nothing.

And that’s what’s on offer to those holding enough shares in Rio Tinto.

Each of the iron ore favourite’s securities has offered $7.10 of dividends over the last 12 months.

At that rate, a 3,380-strong parcel of the ASX 200 giant’s stock could bring in $24,000 of passive income annually.

That’s before considering potential tax benefits born from the franking credits accompanying the payouts or dividend growth, like that forecasted by Goldman Sachs.

However, Rio Tinto shares don’t necessarily come cheap. They’re currently trading for around $113.91 apiece.

Thus, my desired 3,380 shares would come with an approximate price tag of $385,000. That’s not exactly pocket change. Fortunately, I believe there’s a way to lessen the outright cost.

Making the most of compounding

If my goal was to command a parcel of 3,380 Rio Tinto shares but I didn’t have quite enough cash, I would work to invest a smaller amount each week and employ the company’s dividend reinvestment plan (DRP).

That would allow me to use any dividends I receive to buy more shares without paying a commission. Meanwhile, I would be consistently bolstering my holding on the market.

Thus, my investment could compound over the coming years until it reaches my goal.

Though, it’s worth remembering that past performance doesn’t indicate future performance. Further, as a materials company, Rio Tinto’s earnings – and, as an extension, its dividends – tend to fluctuate alongside commodity prices.

The post Dividend devotee: I’d buy Rio Tinto shares for $2,000 of monthly passive income appeared first on The Motley Fool Australia.

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More reading

• 2 ASX 200 mining shares to buy with huge upside potential: analysts
• Buy these ASX dividend shares with 5%+ yields: analysts
• 3 top ASX mining shares I’d buy right now
• How I’d aim to retire rich enough to live on passive income from my ASX dividend shares
• How to generate $500 of monthly income from Rio Tinto shares

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. 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 Scott Phillips.

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The Bendigo and Adelaide Bank Ltd (ASX: BEN) share price has suffered amid the volatility for bank shares around the world. But, the regional bank does offer a very high dividend yield, so does this make it a buy?

There has been a lot of banking pain in the northern hemisphere with the collapse of Silicon Valley Bank (SVB), as well as all the troubles faced by Credit Suisse.

Compared to ASX bank shares, SVB would be considered a huge player. But, in the US it’s just a mid-tier, ‘regional’ bank. With investor concerns about what that could mean for regional banks here, the Bendigo Bank share price has been falling – it’s down 12% from 27 January 2023.

For SVB, there was a ‘duration’ problem, meaning it had short-term, at-call deposits, which it then invested in longer-duration bonds. However, what’s going on in the US and Europe is a different situation to Bendigo Bank’s setup. The ASX bank share has a different, local client base, and it’s not focused on businesses.

Dividend projection

The last two dividends from Bendigo Bank amount to a grossed-up dividend yield of around 9%.

But, in terms of what it’s expected to pay in FY23, Commsec numbers suggest that the regional ASX bank share is forecast to pay an annual dividend per share of 60 cents per.

At the current Bendigo Bank share price, this could translate into an FY23 grossed-up dividend yield of 9.6%.

That’s certainly stronger than what people can achieve from a bank account, or what most ASX dividend shares are expected to pay in this financial year.

Is the Bendigo Bank share price a buy?

Specifically, on Bendigo Bank, I’m not worried about the regional bank collapsing. I believe that FY23 could prove to be a solid year considering interest rates have gone higher and the regional player is able to earn a bigger profit on its lending.

In the FY23 half-year result, it saw cash earnings after tax increase by 22.9% to $294.7 million, while the net interest margin (NIM) improved 19 basis points to 1.88% (the lending profit margin improved noticeably). The cost-to-income ratio improved by 500 basis points to 54.6%, showing it has done well at keeping costs under control. Customer numbers rose 5% to 2.3 million.

But, what does worry me a bit is that credit provisions/bad debt expenses are “likely to come under pressure as the tightening cycle continues and move closer toward historical averages for the bank, which are low by industry standards”.

In other words, the attractive combination of higher lending profits and low bad debts is unlikely to last forever.

I believe that Bendigo Bank is in a good position, with a common equity tier 1 (CET1) ratio of 10.13% at the end of the first half. Its balance sheet is in good shape.

However, if I were looking for passive dividend income, I think there are other areas that aren’t as competitive and commodity-like as banking. If I wanted to buy Bendigo Bank shares, I think this is a decent time to consider the regional bank, but it wouldn’t be at the top of my income stock wishlist.

The post Is the Bendigo Bank share price a good bet with its 9% dividend yield? appeared first on The Motley Fool Australia.

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More reading

• Why Bendigo and Adelaide Bank, BHP, IPH, and Woodside shares are dropping
• Why is the Bendigo Bank share price being hit the hardest of the small ASX banks?
• Why are the smaller ASX 200 banks rebounding so strongly on Wednesday?
• ASX 200 bank shares: Are they better prepared than Silicon Valley Bank?
• 5 things to watch on the ASX 200 on Monday

SVB Financial provides credit and banking services to The Motley Fool. Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended SVB Financial. The Motley Fool Australia has positions in and has recommended Bendigo And Adelaide Bank. The Motley Fool Australia has recommended SVB Financial. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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ASX lithium share Winsome Resources Ltd (ASX: WR1) is down 3.1% during lunchtime trading, having earlier posted losses of almost 5%.

The ASX lithium explorer closed yesterday trading for $1.45 per share. Shares are currently trading for $1.405 apiece.

The stock is taking a tumble despite the company reporting positive lithium exploration results.

That looks to be partly due to a broader market sell-down today, following the latest overnight interest rate increase from the US Fed.

ASX lithium shares are widely underperforming today, possibly on news of fast-falling lithium prices in China, the world’s top EV producer.

What did the ASX lithium share report?

The Winsome Resources share price isn’t getting a boost despite the company announcing it had intersected further high-grade lithium zones at its 100%-owned Adina project in Quebec, Canada.

The assays included several intersections in excess of 50 metres and above grades of 1% Li2O.

The ASX lithium share reported that one exceptionally high-grade zone returned 2.40% Li2O over 9.0 metres from 49.0 metres, while another returned 2.82% Li2O over 6.0 metres from 84.0 metres.

Commenting on the results, Winsome Resources managing director Chris Evans said:

Results from drilling are demonstrating that Adina is a robust lithium project well placed for development to supply future North American demand. We have intersected mineralisation on every drill section over a 700-metre strike length. More importantly the consistency of grade and width through the core of the deposit is very encouraging.

Assays have now been received from 21 out of the 38 drill holes completed to date.

Winsome is deploying a third drill rig to Adina in the coming weeks.

Winsome Resources share price snapshot

The past month has been a rough one for Winsome Resources, with the company’s shares down 30%.

Still, as you can see on the chart below, the ASX lithium share has been a winner for longer-term shareholders, up 204% over the past 12 months.

The post ASX lithium share Winsome Resources drops despite high grade results. Here’s why appeared first on The Motley Fool Australia.

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More reading

• 4 ASX mining shares that have soared over 150% in a year
• Why BHP, Dicker Data, South32, and Winsome Resources are pushing higher

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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It’s been a pretty horrible day for the S&P/ASX 200 Index (ASX: XJO) so far this Thursday. At the time of writing, the ASX 200 is down by a nasty 0.67%, pulling the index back under 7,000 points. But it’s been even worse for the National Storage REIT (ASX: NSR) share price.

National Storage REIT units have returned from their trading halt today. And investors did not treat this real estate investment trust (REIT)‘s absence kindly. This ASX 200 property share last traded at $2.51 a share as of Tuesday’s close. But today, National Storage units opened at just $2.38 per unit this morning, down more than 5%.

At the time of writing, the REIT has recovered somewhat, but is still nursing a 4% loss at $2.41 per unit.

So what’s going on here?

National Storage units return to trading

Well, as we covered yesterday, National Storage announced a trading halt on Wednesday morning to allow the company to conduct a capital raising program. This consisted of a $300 million institutional share placement, and a $25 million share purchase plan for retail investors.

At the time, the REIT told investors that it intended to use the funds for the following:

The proceeds from the Equity Raising will be used to fund NSR’s committed and future acquisitions and its committed development spend, repay debt, including drawn facilities that are due to expire in 1H FY24, and strengthen the balance sheet.

Originally, the REIT indicated to the markets that its shares would resume trading tomorrow. However, this morning, the company released an announcement that told investors it had successfully completed its capital raising at a price of $2.41 per unit.

It also revealed that the company would be returning to trade today after “the placement received strong support from existing securityholders and new investors”.

Here’s what National Storage managing director Andrew Catsoulis had to say this morning:

We are very appreciative of the huge amount of support received for National Storage and its growth strategy from both existing and new investors. The equity raising will allow National Storage to fund strategic growth initiatives, repay debt and strengthen the balance sheet.

So it appears that investors were either not entirely happy with the capital raising, or else are just sending National Storage units down with the rest of the market today. Or perhaps a bit of both.

Either way, it’s probably not the return that this ASX 200 REIT envisioned. But let’s see what the rest of the week has in store for the National Storage unit price.

The post Why is the National Storage share price down 5% today? appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX 200 shares today
• Rising Flight Centre share price delivers 25% gains to SPP investors in a week
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why is the New Hope share price up 5% and leading the ASX 200 today?

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) is having a disappointing session on Thursday. In afternoon trade, the benchmark index is down 0.7% to 6,966.7 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are charging higher:

Brickworks Limited (ASX: BKW)

The Brickworks share price is up 3.5% to $23.88. This follows the release of the building products company’s half-year results this morning. Thanks largely to its property business, Brickworks delivered a 24% increase in half-year underlying profit to a record $410 million. This allowed the company to increase its interim dividend by 5% to 23 cents per share.

Healius Ltd (ASX: HLS)

The Healius share price is up 1% to $3.03. Investors have been buying this healthcare company’s shares this week after it received a takeover approach from smaller rival Australian Clinical Labs Ltd (ASX: ACL). Although the offer is not at a premium, Australian Clinical Labs expects to create significant value for shareholders by merging the two companies.

Mincor Resources NL (ASX: MCR)

The Mincor share price is up a further 3.5% to $1.58. This nickel miner’s shares have risen strongly this week after Twiggy Forrest’s Wyloo Metals business made a takeover approach. Wyloo has tabled a $1.40 per share offer, which values the company at $760 million. Investors appear to believe that BHP Group Ltd (ASX: BHP) could come in with a higher offer.

Northern Star Resources Ltd (ASX: NST)

The Northern Star share price is up 2% to $11.43. Investors have been buying Northern Star and other gold miners today after the price of the precious metal rebounded overnight. Traders appear to believe the safe haven asset will benefit from market volatility caused by rising interest rates. The S&P/ASX All Ordinaries Gold index is up 1.2% this afternoon.

The post Why Brickworks, Healius, Mincor, and Northern Star shares are rising today appeared first on The Motley Fool Australia.

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More reading

• Brickworks share price higher on record half-year profit
• 5 things to watch on the ASX 200 on Thursday
• Why are ASX 200 gold stocks on a rollercoaster lately?
• Why ASX 200 gold shares could see the yellow metal hit new record highs: expert
• 5 things to watch on the ASX 200 on Wednesday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks. The Motley Fool Australia has positions in and has recommended Brickworks. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The BHP Group Ltd (ASX: BHP) share price is sliding today amid wider market turmoil and falling iron ore prices.

BHP shares are down 1.21% and are currently trading at $43.31 apiece. For perspective, the S&P/ASX 200 (ASX: XJO) is 0.92% lower.

Let’s take a look at what’s going on with the BHP share price today.

Iron ore prices fall

BHP is an iron ore-producing mining giant. However, BHP is not the only major iron ore producer trading lower today.

Rio Tinto Ltd (ASX: RIO) shares are down 1.27%, while Fortescue Metals Ltd (ASX: FMG) shares are sliding 3.57%.

Iron ore producers, including BHP, appear to be falling after the iron ore price fell overnight.

Iron ore futures dropped amid China lowering the price of steel products. In a research note, ANZ economist Madeline Dunk hinted iron ore prices could face more pain this year:

Iron ore futures fell sharply amid a weakening backdrop in China. Ten Chinese steel mills lowered their prices of steel products, according to Mysteel. At the same time, spot prices for rebar used in construction have slumped sharply.

The impact of China’s reopening may be short lived amid ongoing underlying issues in China’s property market.

This could lead to further weakness in the iron ore price this year.

The iron ore price is down 1.17% and is currently priced at US$127 a tonne, Trading Economics data shows.

The ASX is sliding today after US stocks plunged overnight amid the US Federal Reserve lifting rates by 25 basis points. The S&P 500 Index dropped 1.65%, the NASDAQ Composite fell 1.6%, and the Dow Jones Industrial Average fell 1.63%.

Commenting on the rates decision, the US Federal Reserve said “inflation remains elevated”, adding:

The committee anticipates that some additional policy firming may be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time.

Share price snapshot

The BHP share price has risen 0.44% in the last year, but fallen 10% in the last month.

BHP has a market capitalisation of more than $219 billion based on the current share price.

The post Why is the BHP share price in the red today? appeared first on The Motley Fool Australia.

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More reading

• Out with coal, in with nickel: Could BHP shares soon face a flurry of M&A activity?
• The Mincor Resources share price is skyrocketing 42%, what could be next for this ASX mining share?
• Here’s how much I’d need to invest in BHP shares to generate a $250 monthly income
• Could buying BHP shares under $44 make me rich?
• Is it time to buy ASX 200 iron ore shares right now?

Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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The Washington H Soul Pattinson and Co Ltd (ASX: SOL) share price is trading in the green after the company posted a whopping 38% jump in profit for the first half, as The Motley Fool Australia reported earlier today.

Right now, Soul Patts shares are swapping hands for $28.66, 0.42% higher than they were at Wednesday’s close.

For comparison, the S&P/ASX 200 Index (ASX: XJO) is down 0.87% right now while the company’s home sector, the S&P/ASX 200 Energy Index (ASX: XEJ), has slumped 0.19%.

It comes as the investment house cuts its exposure to shares in favour of private equity and structured yield products.

Soul Patts share price outperforms on earnings release

The Soul Patts share price is rising on Thursday as the ASX 200 icon revealed it turned away from the market amid soaring inflation last half.

Though, it noted we’re “entering a stock pickers market” where value investors could reign supreme amid “increasing price for risk”.

Commenting on Soul Patts’ $1.3 billion of portfolio moves over the first half, CEO and managing director Todd Barlow said:

During the half we reduced our exposure to listed equities, particularly cyclicals and growth stocks, and invested over $400 million into private equity and structured yield products.

Around 20% of the portfolio is now weighted to alternative assets and cash, which do not re-rate as frequently as equities but are strategic for risk management and longer-term investment goals.

The company’s net asset value jumped 16% year-on-year during the half, helping it to up its interim dividend by 24% to 36 cents per share, fully franked.

And its strong performance didn’t end there. Its total portfolio outperformed the All Ordinaries Index (ASX: XAO) by 2% in February, with Soul Patts noting its defensive positioning is gaining traction in the current market.

Around 5% of the group was invested in its structured yield portfolio and another approximately 8% was housed in its private equity portfolio at the end of the half.

The investment house also bolstered its cash holdings by 257.7% over the period to reach $597.3 million – helped by the $88.5 million sale of the Castle Hill property.

The post Soul Patts share price gains as first-half profit jumps 38% appeared first on The Motley Fool Australia.

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More reading

• Soul Patts share price in focus as dividend hiked 24%
• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX 200 shares today
• Rising Flight Centre share price delivers 25% gains to SPP investors in a week
• Here are the 3 most heavily traded ASX 200 shares on Wednesday

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The market may be tumbling again on Thursday, but that hasn’t stopped the Coles Group Ltd (ASX: COL) share price from pushing higher.

At the time of writing, the supermarket giant’s shares are up 0.5% to $17.79.

This means the Coles share price is now up 6.5% since the start of the year, which compares favourably to the performance of the ASX 200 index.

The benchmark index is down 1.2% year to date, which means an outperformance of almost 8%.

Why is the Coles share price outperforming?

There are a couple of reasons why the Coles share price is outperforming the market this year.

The first is the release of the company’s half-year results last month, which went down well with the market.

Coles reported a 3.9% increase in sales revenue to $20.8 billion and an 11.4% jump in net profit after tax to $643 million. This allowed the company’s board to declare a 36 cent per share interim dividend, which was up 9.1% year over year.

Also giving the Coles share price a boost has been its defensive qualities. In times of heightened economic and market volatility, companies with defensive earnings appeal to risk averse investors.

Coles has these qualities in spates. You only need to look at its performance during the pandemic to see this.

Can its shares keep rising?

The good news is that one leading broker believes there’s still plenty more upside left in the Coles share price.

According to a recent note out of Citi, its analysts have a buy rating and $20.20 price target on its shares. This implies potential upside of almost 14% for investors over the next 12 months.

In addition, Citi is forecasting fully franked dividends of 69 cents per share in FY 2023 and 71 cents per share in FY 2024. This represents attractive yields of 3.9% and 4%, respectively, which make the total potential return on offer with its shares even more sweeter.

The post Why is the Coles share price smashing the ASX 200 this year? appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Coles Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Block Inc (ASX: SQ2) share price is down 5.7% in morning trade.

The global buy now, pay later (BNPL) stock closed yesterday trading for $115.15 per share. Shares are currently swapping hands for $108.59 apiece.

This comes as the All Ordinaries Index (ASX: XAO) is also giving up some of its recent gains, down 0.9%.

Here’s what’s putting extra pressure on the ASX BNPL share today.

Why is the Block share price plunging today?

The Block share price is falling on the back of the latest interest rate hike from the United States Federal Reserve, announced overnight Aussie time.

The latest 0.25% rate boost – the ninth consecutive hike from the central bank – takes the official US cash rate to 5.0%.

Though widely anticipated, the rate hike saw the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) close down 1.6%.

As you may know, Block, which acquired Afterpay in January last year, is dual-listed in Australia and the United States. And the Block share price fell 6.2% on the NYSE yesterday.

The BNPL company has proven highly sensitive to the higher interest rate environment.

Higher rates throw up some stiff headwinds to growth stocks priced with future earnings in mind. As the cost of money rises, so too does the cost of investing in that future revenue.

And higher rates, of course, also will increase the cost of servicing the company’s debts. Not to mention likely see an increase in bad debts from some of its already stressed customers.

The Block share price may be even more sensitive to rate increases as regulators debate stringent new regulations for the pay by instalment sector. Those may subject Block and other BNPL companies to the same rules as credit card companies.

How has Block been performing?

As you can see in the chart below, the Block share price fell off a cliff during the early months of global interest rate increases. 2023 has been far more rewarding for the shareholders, with the stock up 18% year to date despite today’s slide.

The post The Block share price just plummeted 6%. Here’s why appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Why is the Zip share price soaring 7% today?
• Why is the Block share price racing higher on Wednesday?
• Why are ASX 200 tech stocks like Xero having such a stellar start to the week?
• Why Block, BrainChip, Core Lithium, and Life360 shares are racing higher

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block. The Motley Fool Australia has positions in and has recommended Block. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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