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The All Ordinaries Index (ASX: XAO) is kicking off this Tuesday’s session on a very positive note so far. At the time of writing, the All Ords has gained a healthy 0.4%, putting it back over 7,375 points.

But for some ASX all Ords shares, it’s been an even better day. So let’s talk about three All Ords shares that just clocked new, multi-year highs.

3 ASX All Ords shares hitting new highs today

Neuren Pharmaceuticals Ltd (ASX: NEU)

Neuren Pharmaceuticals is our first All Ords share to check out. Neuren is having a pretty fabulous day. The company is presently up a decent 1.64% at $8.67 a share.

But this morning, Neuren shares spiked as high as $8.80 each. That is not only a new 52-week high for the Neuren Pharmaceuticals share price, but the highest Neuren has traded since way back in early 2007.

Yes, Neuren is trading at a post-GFC high today. Neuren shares are now up more than 120% year to date. It’s not hard to see why.

In a quarterly update last month, Neuren announced a new drug has been approved by the US Food and Drug Administration (FDA). The company is anticipating revenue from this new drug alone of $112 million in 2023.

New Energy Solar Ltd (ASX: NEW)

New Energy Solar is another All Ords share blazing new highs today. This solar company opened at 98 cents a share this morning but soon climbed as high as $1 a share, a new 52-week high for New Energy Solar.

New Energy Solar has been at these levels before. But the last time was back in early 2020, making today’s new 52-week high a multi-year high as well.

This could have been spurred by a few things. Yesterday, New Energy Solar informed investors that the company’s net asset value per share stood at $1.06, meaning the shares are trading under what they are theoretically worth right now.

Further, New Energy Solar is planning a significant capital return soon, which could also be boosting investor sentiment.

Myer Holdings Ltd (ASX: MYR)

Our last All Ords share to check out is a famous ASX name in Myer.

The Myer share price has staged a fairly remarkable recovery over the year so far. Myer shares are up a pleasing 58% this year to date, and up more than 140% from the June 52-week low of 30 cents.

This morning, Myer climbed as high as 74 cents each. That’s the highest Myer has traded at in almost five years.

As my Fool colleague James flagged yesterday, this could be a result of the news that Myer’s arch-rival David Jones is a potential takeover target at the moment.

The post 3 ASX All Ordinaries shares hitting multi-year highs on Tuesday appeared first on The Motley Fool Australia.

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More reading

• Why Liontown, Lovisa, Myer, and Whitehaven Coal shares are pushing higher
• 2 ASX All Ordinaries shares hitting multi-year highs on Monday

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 Sayona Mining Ltd (ASX: SYA) share price is up almost 6% today. Meanwhile, a million new shares in the company have hit the market.

It’s the second time in a week that a new parcel of stock in the S&P/ASX 200 Index (ASX: XJO) lithium developer has been issued.

Right now, the Sayona share price is trading at 22.2 cents, 5.71% higher than its previous close. For comparison, the ASX 200 is up 0.52% right now.

So, what’s with all the new Sayona stock this week? Let’s take a look.

Why did a million new lithium shares just hit the ASX?

It’s been a big week for fans of ASX 200 lithium share Sayona. The company announced a “major” acquisition, issued 185 million new shares, and has now dumped another million shares on the market.

Though, the latest issuance is perhaps less exciting than previous ones. The most recent parcel of 1.35 million Sayona shares relate to options exercised between 7 November and 16 November.  

Each option was converted at a price of 2 cents – not bad considering the lithium favourite’s current share price.

The shares hit the market on Friday before being detailed in an ASX announcement after the market closed last night.

The prior 185 million-strong parcel of shares, conversely, related to Sayona’s recent acquisition of 1,824 Canadian lithium exploration claims. The claims span a 985 square kilometre area nearby Sayona’s majority-owned Moblan Lithium Project.

The parcel of stock – valued at $44.5 million – was handed to Candian-listed Troilus Gold Corp.

Sayona also agreed to invest an additional $10 million Canadian – approximately $11.2 million – in its Canadian counterpart.

Sayona share price snapshot

It’s been a good year for the Sayona share price.

The stock has lifted 55% since the start of 2022. It’s also 45% higher than it was this time last year.

For comparison, the ASX 200 has fallen 5% year to date and 2% over the last 12 months.

The post One million more Sayona shares just hit the market. Here’s the latest appeared first on The Motley Fool Australia.

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More reading

• Why did Macquarie just switch out ANZ for CBA shares?
• Will ASX 200 tech company Novonix deliver a profit in 2023?
• 5 things to watch on the ASX 200 on Tuesday
• Why did the Mesoblast share price soar 9% today?
• Here are the top 10 ASX 200 shares today

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 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 Brickworks Limited (ASX: BKW) share price is pushing higher on Tuesday.

In morning trade, the building products company’s shares are up 1% to $21.10.

Why is the Brickworks share price outperforming today?

Investors have been bidding the Brickworks share price today following the release of a trading update at the company’s annual general meeting.

According to the release, the company has started the new financial year strongly.

It advised that following the higher earnings achieved in FY 2022, momentum across Building Products operations in Australia and North America continued in recent months. A strong order book has resulted in first quarter FY 2023 revenue and EBITDA being ahead of the prior corresponding period in both countries.

Brickworks managing director, Lindsay Partridge, also revealed that the company’s joint venture with Goodman Group (ASX: GMG) is performing positively as well. He said:

As a result of the strong tenant demand, we are experiencing significant rental growth across our new developments and lease renewals. This is expected to offset the impact of higher interest rates.

Outlook

One slight negative that could be holding back the Brickworks share price was the company’s expectation for a softer second half.

Commenting on the company’s outlook, Partridge said:

Despite rising interest rates, the development pipeline within our Industrial JV Trust is strong. Across Building Products, we anticipate increasing headwinds in the second half, as the existing pipeline of construction work is built out. Meanwhile, WHSP is expected to continue to deliver a stable and growing stream of earnings and dividends over the long term.

Over the last 12 months we have built the asset base of the Company considerably, resulting in a conservative gearing level. This strong financial position, together with our diversified portfolio of high-quality assets, means that Brickworks is well-placed to meet any future challenges and continue to deliver strong performance for shareholders.

The post Why is the Brickworks share price outperforming the ASX 200 today? appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Tuesday
• 3 key things I look for when buying ASX dividend shares
• How to have your ASX 200 dividend cake and eat it too
• How I’d invest in ASX dividend shares now to make a $50k passive income in retirement
• Why is the Brickworks share price sliding lower on Tuesday?

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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If you’re approaching retirement, now could be the time to think about your next investment phase.

While there’s no harm in allocating a small part of your portfolio to higher risk growth shares, dedicating the bulk of it to dividend shares could be the smart thing to do.

That’s because ASX dividend shares can provide investors with a relatively reliable way to build a passive income. They’re also generally lower risk options, so you’re unlikely to have your investment wiped out if things don’t go to plan.

And if you can find them while they’re cheap, you can potentially benefit from the winning combination of higher than average yields and capital returns.

But how do you find ASX dividend shares to buy?

Fortunately for income investors, finding potentially good value ASX dividend shares isn’t hard this year due to the market volatility.

A number of quality shares have crashed materially lower than where they were trading 12 months ago, potentially creating a buying opportunity for investors.

Though, it is worth remembering that just because a share has sunk deep into the red, it doesn’t mean that it is good value.

More often than not, cheap shares have become cheap for a reason. Changes in the economy could have soured their outlooks and put their earnings and dividends at risk. So, don’t just go jumping in and buying everything that looks cheap as you may end up catching a falling knife.

But that said, the market does have a habit of overselling quality shares now and then. These are the shares we want to find among the market wreckage.

I would look for beaten down ASX dividend shares with strong business models, robust balance sheets, competitive advantages, and sustainable payouts. Ideally, you’ll want to spread them across various sectors to ensure that you diversify your portfolio.

But which shares could you buy now?

Two ASX dividend shares that come immediately to mind are footwear and fashion retailer Accent Group Ltd (ASX: AX1) and conglomerate Wesfarmers Ltd (ASX: WES). They are down 33% and 20%, respectively, since the start of 2022.

These declines have been driven largely to concerns that their short term performances could be impacted by current macroeconomic factors.

However, it is worth remembering that inflation will ease in time and rates will soon find their peak, leaving these quality businesses to resume their solid growth over the long term.

In the meantime, Goldman Sachs has a buy rating and $2.20 price target on Accent’s shares and is expecting fully franked dividend yields of 6.2% in FY 2023 and 7% in FY 2024.

Whereas Morgans is a fan of Wesfarmers and has an add rating and $55.60 price target on its shares. It is forecasting fully franked dividend yields of 3.8% in FY 2023 and 4% in FY 2024.

The post Almost ready to retire? Here’s why I’d be buying up ASX dividend shares right now appeared first on The Motley Fool Australia.

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More reading

• I’d invest $100 a week in cheap ASX dividend shares for passive income in retirement
• Brokers says these top ASX 200 dividend shares are buys this week
• Experts name 2 ASX shares with fully franked dividend yields to buy next week
• If you’d bought $10,000 worth of Wesfarmers shares in January, this is how much you’d have earned in dividends
• 3 key things I look for when buying ASX dividend shares

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 Wesfarmers Limited. The Motley Fool Australia has recommended Accent 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 PlaySide Studios Ltd (ASX: PLY) share price is having a very strong day on Tuesday.

In morning trade, the game developer’s shares are up 14% to 68 cents.

At one stage, the PlaySide share price was up as much as 28% to 76 cents.

Why is the PlaySide share price rocketing higher?

Investors have been scrambling to buy PlaySide shares today after the company announced an agreement with Facebook and Instagram owner Meta Platforms (NASDAQ: META).

According to the release, following a successful concept pitch, Meta has engaged PlaySide to design, develop, and create a mixed reality interactive software product to be playable on its Quest suite of virtual reality devices.

What are the terms?

PlaySide notes that it will receive payments for the development of the game and will also receive a share of net revenues from the game in perpetuity.

The development payments will be received at agreed milestones, which are consistent with industry benchmark requirements for progressing the game to launch. The agreement is effective immediately and work on the title is expected to commence in the current financial year.

PlaySide’s CEO, Gerry Sakkas, commented:

This deal marks the next evolution of our work in the studio, as we leverage our abilities to conceptualise and develop exciting games in a revenue-share arrangement with a leading global technology company. Meta is bringing virtual reality and mixed reality into the mainstream with its Quest suite of products, and we are excited about the opportunity to demonstrate our domain expertise with this game.

Meta will no doubt be hoping that this game gives its often ridiculed Metaverse platform a much-needed boost. Maybe legs will be included this time!

The post Guess which ASX gaming share is surging 28% on a deal with Meta appeared first on The Motley Fool Australia.

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More reading

• Why Austal, New Hope, Playside, and South32 shares are dropping

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. 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 Meta Platforms, Inc. The Motley Fool Australia has recommended Meta Platforms, Inc. 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 Materials Index (ASX: XMJ) is 0.53% in the green today, but one ASX lithium share is charging far higher.

The Green Technology Metals Ltd (ASX: GT1) share price is leaping 10% today on lithium news. For perspective, the broader S&P/ASX 200 Index (ASX: XJO) is 0.39% in the green today.

Let’s take a look at what this ASX lithium share reported to the market today.

High grade intercepts

Green Technology Metals reported the “highest grade drill intercept to date” at the McCombe deposit within the Root Project.

This 100% owned project is located about 200km west of the company’s Seymour Project in Ontario Canada.

Assay results showed drilling intersected with up to 4.06% lithium oxide (Li2O). Results included:

• 8 metres (m) at 1.72% Li2O from 64 m (including 2m at 4.06% Li2O from 64.6m) at drill hole RL-22-0013
• 8.4m at 1.32% Li2O from 102 m (including 1m at 3.91% Li2O from 103.6m) at drill hole RL-22-0014
• 13.4m at 1.24% Li2O from 28.9 m (including 1m at 3.16% Li2O from 29.3m) at drill hole RL-22-0015
• 6.3m at1.52% Li2O from 66.3 m (including 1.0m at 2.38% Li2O from 70.7m) at drill hole RL-22-0016A

So far, 31 drill holes have been drilled at the McCombe deposit and two diamond drill rigs are operating around the clock.

The company said it is on track to make a mineral resource estimate at the project in quarter one of 2023.

Commenting on the news, Green Technology CEO Luke Cox said:

Recent assay returns have confirmed that McCombe is higher grade than originally interpreted based on historical data.

The Root Project as a whole is also developing into a much larger complex, with McCombe potentially joining with Morrison to form a structure over several kilometres long, and recent spodumene discoveries at Root Bay confirming it extends east and west along a magnetic high.

Green Technology share price snapshot

The Green Technology Metals share price has exploded nearly 178% in the past year, while it is climbing 113% in the year to date.

For perspective, the ASX 200 has fallen nearly 3% in the last year.

This ASX lithium share has a market capitalisation of nearly $212 million based on the current share price.

The post Guess which ASX lithium share is leaping 10% on a new discovery appeared first on The Motley Fool Australia.

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More reading

• 3 ASX mining shares leaping higher on new discoveries today

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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Australia and New Zealand Banking Group Ltd (ASX: ANZ) shares have been the worst performing S&P/ASX 200 Index (ASX: XJO) big four stock of this year so far – dumping 11% year to date.

Following such a tumble, one top broker has reportedly turned its back on ANZ in favour of shares in banking peer Commonwealth Bank of Australia (ASX: CBA). The CBA share price has lifted more than 4% since the start of 2022.

For comparison, the ASX 200 is down 5% year to date. Meanwhile, the S&P/ASX 200 Financials Index (ASX: XFJ) has slumped 2%.

So, why has Macquarie Group Ltd (ASX: MQG) reportedly swapped the big four banks’ positions in its model portfolio? Let’s take a look.

Why did Macquarie swap ANZ shares for CBA?

Shares in the ASX 200’s smallest big four bank have been dumped from Macquarie’s model portfolio in favour of the index’s largest banking stock, The Australian reports.

A model portfolio is a guide produced by an asset manager and provided to clients who can use it to build their own portfolio. Removing a company from a model portfolio doesn’t necessarily mean a broker tips it as a sell.

Macquarie Research commented on the changes, courtesy of the publication:

The portfolio changes we have made are done to reduce exposure to earnings risks, while still trying to minimise exposure to highly valued stocks. We also reduce exposure to stocks that benefit from higher bond yields and rotate to ‘bond proxies’. Our changes are also informed by what worked in past recessions.

It reportedly tips CBA as a quality bank share, directly replacing ANZ’s shares with those of CBA in its model portfolio. Macquarie isn’t the only broker seemingly more bearish on ANZ shares.

Morgans was said to have reduced its exposure to the big four banks, bar CBA, earlier this month, my Fool colleague Bernd reports. The broker apparently thinks their net interest margins (NIMs) have peaked amid a broader economic slowdown.

On the other hand, Citi was recently bullish on ANZ. It believes the stock could offer an 18% upside on its current price and growing dividends, as my colleague James reports.

The post Why did Macquarie just switch out ANZ for CBA shares? appeared first on The Motley Fool Australia.

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More reading

• Will ASX 200 tech company Novonix deliver a profit in 2023?
• 4 quality, undervalued ASX 200 shares in an earnings upgrade cycle revealed: fund manager
• 5 things to watch on the ASX 200 on Tuesday
• Why did the Mesoblast share price soar 9% today?
• Here are the top 10 ASX 200 shares today

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Macquarie Group 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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If you’re looking for exposure to the resources sector, then you may want to consider BHP Group Ltd (ASX: BHP) shares.

That’s the view of analysts at Morgans, which continue to rate the mining giant as one of the best options in the sector.

What is Morgans saying about BHP shares?

According to a recent note, the broker has retained its add rating on the Big Australian’s shares with a $47.00 price target.

Based on where BHP’s shares are trading at present, this implies potential upside of almost 9% over the next 12 months for investors.

In addition, Morgans is expecting BHP to continue paying big dividends to investors. It is forecasting a fully franked $2.96 per share dividend from the miner in FY 2023. This equates to a generous 6.8% dividend yield, which stretches the total potential return to almost 17%.

Why is the broker positive?

Morgans likes BHP due to the company being a lower risk option in the sector. It also believes the company is well-placed to benefit from the global recovery from COVID-19 and highlights the resilience of its dividend profile.

Morgans commented:

We view BHP as relatively low risk given its superior diversification relative to its major global mining peers. The spread of BHP’s operations also supplies some defence against direct COVID-19 impact on earnings contributors. While there are more leveraged plays sensitive to a global recovery scenario, we see BHP as holding an attractive combination of upside sensitivity, balance sheet strength and resilient dividend profile.

Our long-term preference for BHP over RIO continues to pay dividends (literally), with BHP asserting itself as the better miner and with the stronger growth profile.

The post Broker tips 17% total annual return from BHP shares appeared first on The Motley Fool Australia.

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More reading

• Morgans names the best ASX 200 dividend shares to buy
• Why is the Rio Tinto share price trailing the ASX 200 on Monday?
• Why these 3 ASX 200 shares have done ‘particularly well’ and remain top holdings into 2023: fund manager
• Time to buy? Which ASX 200 shares are trading on single-digit P/E ratios?
• Are BHP shares in the buy zone following the latest OZ Minerals news?

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 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 Life360 Inc (ASX: 360) share price has returned from its trading halt and dropped into the red.

In morning trade, the location technology company’s shares are down 5% to $6.40.

Why is the Life360 share price dropping?

The Life360 share price weakness today has been driven by the company’s surprise decision to undertake a capital raising this week.

With the company on course to generate positive operating cash flow this time next year, many thought that another capital raising wouldn’t be required.

However, management has decided to shore up its balance sheet given the uncertain macroeconomic environment.

According to the release, Life360 has raised $50 million (US$33 million) via a placement to institutional investors at $6.30 per new share. This was the maximum price of the bookbuild range of $6.20 to $6.30 per share and represents a 6.4% discount to the Life360 share price prior to the halt.

What did management say?

As mentioned above, management explained that the placement was undertaken to strengthen its balance sheet in uncertain times. It explained:

The Placement is a prudent capital management initiative that provides a strong cash buffer at a time of uncertainty across the global macroeconomic environment.

Potential takeover?

Something that appears to have slipped under the radar, judging by the Life360 share price performance, is the company’s comments regarding a potential merger transaction.

It explained that it has “received inbound interest from potential parties that could result in a merger with another entity.”

No details have been provided in respect to who these parties are. Furthermore, management has warned that discussions are preliminary and there is no certainty that they will lead to any transaction.

It also highlights that the company receives inbound interest from time to time and only considers options that it believes are likely to result in an increase in shareholder value.

The post Life360 share price lower despite takeover talks appeared first on The Motley Fool Australia.

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More reading

• Top brokers name 3 ASX shares to buy today
• Down 30% so far in 2022, leading fund manager Firetrail sees a bright future for this under-the-radar ASX small-cap share
• Experts name 3 of the best ASX growth shares to buy in November
• ‘Very bullish’: 3 small-cap ASX shares QVG is loving right now
• 5 reasons I would avoid BrainChip shares at all costs

Motley Fool contributor James Mickleboro has positions in Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360, Inc. 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 ASX share market is one of many markets to have seen significant volatility this year. For me, more volatility brings more opportunity.

I don’t know how high interest rates will go, nor when inflation will calm down. But, I do believe that the lower share prices that we’re seeing can help long-term returns because we can buy at better value today.

Past growth doesn’t mean that the future will match that. Returns can sometimes be bumpy.

However, the ASX share market has delivered an average return per annum of approximately 10% over the decades, though who knows what the next decade will bring. If an ASX share were to grow by an average of 10% per year, it would take less than eight years for me to double my money.

I believe the following three potential investments could be pleasing growth contenders to double my money in the coming years.

Betashares Global Cybersecurity ETF (ASX: HACK)

This exchange-traded fund (ETF) offers exposure to almost 40 companies that provide cybersecurity services to clients worldwide.

It’s a mix of global giants and smaller but growing players.

Readers may have heard of some of the international positions in the portfolio, such as Cisco Systems, Broadcom, Infosys, Palo Alto Networks, Crowdstrike, Fortinet, Verisign and Okta.

As BetaShares says, “With cybercrime on the rise, the demand for cybersecurity services is expected to grow strongly for the foreseeable future.”

Just look at two of the most recent high-profile examples of cybersecurity breaches in Australia, for Medibank Private Limited (ASX: MPL) and Optus. I think it is — and will continue to be — essential for organisations to pay for good cybersecurity systems.

According to BetaShares sources, the global cybersecurity sector was US$223.7 billion in 2022, and it’s expected to grow to US$478.7 billion in 2030. That would be a rise of 114%.

I’d put $10,000 into this ETF.

TechnologyOne Ltd (ASX: TNE)

The key focus of this tech company is to provide a global software as a service (SaaS) enterprise resource planning (ERP) solution. The idea is that customers can do everything through its software – asset management, human resources, payroll, supply chain management, business analytics and so on.

TechnologyOne revealed in its FY22 first-half result that its customer retention rate was higher than 99%, and more than 90% of its revenue was now recurring. Its net revenue retention rate in HY22 was 114% — that means existing customers paid 14% more revenue to the ASX share than they did before.

Management said this represented a “significant opportunity” in its existing customer base, adding it would “continue to double in size every five years”.

That’s certainly not guaranteed.

However, the company’s growing revenue and improving profit margins are compelling, in my opinion.

Total annual recurring revenue (ARR) was $288 million in the first half of FY22 – it’s expected to grow to at least $500 million in FY26. Additionally, TechnologyOne expects good growth in the United Kingdom, which could be a sizeable growth market for the company if successful.

The company’s profit before tax margin is expected to rise from 31% to 35% in the “coming years”.

I’d invest $5,000 into TechnologyOne shares.

Adairs Ltd (ASX: ADH)

Adairs is a growing retailer of homewares and furniture through three different businesses – Adairs, Mocka and Focus on Furniture.

The business has seen a massive drop this year, and the Adairs share price is down by 44% in the year to date. Simply getting back to the price it commanded at the start of the year would require a rise of more than 80%.

Having said that, I think the company has a good shot of achieving long-term growth.

Adairs plans to grow its product range across the three businesses, which can help it increase its market share. New and upsized stores can help – there is a link between sales and floor space, and Adairs intends to grow its in-store floor space by at least 5% per annum over the next five years.

The retailer is also building its membership, which in turn will help sales. Each member spends around $400 per annum, according to Adairs.

With the newly acquired business, Focus, it wants to roll out at least 30 new stores nationally. The company also plans to continue improving its online offer to boost e-commerce sales.

Finally, Adairs wants to grow its total sales from $564.6 million in FY22 to more than $1 billion over five years.

I’d invest the final $5,000 into Adairs.

The post Here’s how I’d invest $20,000 in ASX shares today to double my money appeared first on The Motley Fool Australia.

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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 ADAIRS FPO, BETA CYBER ETF UNITS, Cisco Systems, CrowdStrike Holdings, Inc., Fortinet, Okta, Palo Alto Networks, and VeriSign. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Broadcom Ltd. The Motley Fool Australia has positions in and has recommended ADAIRS FPO and BETA CYBER ETF UNITS. The Motley Fool Australia has recommended CrowdStrike Holdings, Inc., Okta, and TechnologyOne 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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