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The WA1 Resources Ltd (ASX: WA1) share price entered a trading halt today after soaring more than 60% this morning.

Shares in the ASX mineral explorer rocketed up 60.48% to $1.99 a share before being placed on ice. The company’s previous closing price was $1.24.

Let’s take a look at what’s going on at WA1 Resources.

What’s going on?

WA1 Resources was placed in a voluntary trading halt pending the release of a statement to the market.

The company expects to resume trading on the release of this announcement, or by market open on Thursday.

Commenting on the freeze, WA1 said:

The company requests a trading halt, pending the release of an announcement to the market in relation to a price query from the ASX.

WA1 Resources shares have soared an incredible 1374% from 13.5 cents each at market close on 21 October to the current share price of $1.99.

On Wednesday, the company released maiden drilling results from the West Arunta Project in Western Australia.

They showed significant mineralisation at drill hole PARC003. This included 54m at 0.62% niobium pentoxide, 0.18% total rare oxides, and 3.85% phosphorus pentoxide from 162 metres.

Managing director Paul Savich hailed the discovery as the first of its kind in the region. He said:

Niobium has been identified as a critical mineral by a number of countries and is a key input to future global technology needs, with ferroniobium metal (65% Nb) selling for US$45,000/tonne.

On Thursday, WA1 Resources released a corporate presentation highlighting its focus on “essential metals for a clean energy future”. Niobium improves battery performance via improved chargeability and stability.

WA1 Resources listed on the ASX on 8 February.

Share price snapshot

WA1 Resources shares have soared 895% year to date, while they have risen 1,184% in the last month.

For perspective, the ASX 200 has lost 7% in 2022 so far.

This ASX mining share has a market capitalisation of nearly $58 million based on the current share price.

The post Why was this ASX mining share placed on ice after exploding 60% today?  appeared first on The Motley Fool Australia.

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More reading

• 3 ASX mining shares going gangbusters on Thursday

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 lithium industry was a great place to be again in October.

During the month, a number of ASX lithium shares recorded strong gains for their shareholders.

Among the highlights are the four All Ords shares listed below. Here’s how they performed:

Liontown Resources Limited (ASX: LTR)

The Liontown share price was a very strong performer last month and recorded a gain of 26.8%. Investors were buying the lithium developer’s shares after the Western Australia government gave the thumbs up to the mining proposal for a 4Mtpa operation at the Kathleen Valley Lithium Project. This allowed major site works to commence, bringing production ever closer.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price also smashed the market last month with a 25% gain. This was driven by news that its Finniss lithium mine in Darwin was officially opened. This comes at a time when lithium prices are booming thanks to insatiable demand for the battery making ingredient in the electric vehicle market.

Piedmont Lithium Inc (ASX: PLL)

The Piedmont Lithium share price charged 14.3% higher last month. A good portion of this gain was made late in the month after the lithium developer announced that it had been selected for a US$141.7 million (A$226 million) grant from the US Department of Energy (DOE). These funds will be used to support the construction of the company’s US$600 million (A$958 million) Tennessee Lithium project, which is aiming to expand the US supply of lithium hydroxide by 30,000 metric tonnes per year.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price was on form again and jumped 11.6% in October. Investors were buying this lithium miner’s shares thanks to the release of another solid quarterly update and the results of two online lithium auctions. The latter revealed prices of US$7,830/dmt (on an SC6.0 CIF China basis) and then ~US$8,000/dmt.

The post These were the best ASX lithium shares to buy in October appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most traded ASX 200 shares on Tuesday
• These were the best-performing ASX 200 shares in October
• The Core Lithium share price surged 25% in October. Here’s why
• Top ASX shares to buy in November 2022
• Here are the 3 most traded ASX 200 shares on Monday

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 Vanguard MSCI Index International Shares ETF (ASX: VGS) is a popular exchange-traded fund (ETF) on the ASX. In fact, it is ASX investors’ second-most popular ETF that covers international shares, only behind the iShares S&P 500 ETF (ASX: IVV).

But the Vanguard International Shares ETF is also one of the most diversified funds available, with close to 1,500 individual shares within its underlying investment portfolio. So how can investors know whether this extremely wide fund is a good investment, containing high-quality companies?

Well, let’s have a look at how it is actually structured.

How is the Vanguard International Shares ETF built?

So although the Vanguard International Shares ETF holds close to 1,500 different companies, it is actually a very top-heavy ETF. As it turns out, its top five holdings alone account for approximately 15% of the ETF’s entire portfolio by weighting.

Let’s examine the largest companies in the Vanguard International Shares ETF and see what kind of quality we are getting here

The fund’s top holding is Apple Inc (NASDAQ: AAPL), a company that needs little introduction. For one, it’s hardly debatable that Apple has one of the strongest brands in the world. But the company can also boast a very stable financial position.

Apple started paying a consistent dividend back in 2012 and has increased its dividend every single year since. Even so, it is still only paying out 14.7% of its earnings as dividends today. That indicates immense financial strength to me.

The next holding in the Vanguard International Shares ETF is Microsoft Corporation (NASDAQ: MSFT), another company that most investors would know well. Chances are most of us use a Microsoft product or service every day, which is a good start.

But Microsoft also has a formidable financial position. This company has a much-envied 17-year streak of growing its annual dividends. It has a higher, but still impressive, dividend payout ratio of 27.4% of earnings today.

More quality companies?

The Vanguard International Shares ETF’s next three top holdings are Alphabet Inc (NASDAQ: GOOG)(NASDAQ: GOOGL), Amazon.com Inc (NASDAQ: AMZN), and Tesla Inc (NASDAQ: TSLA).

Here’s where things get interesting. Unlike Microsoft and Apple, these companies do not pay dividends at present.

So both Alphabet (parent company of Google) and Amazon shares have had a rough time of late, thanks largely to disappointing earning reports.

However, in Alphabet’s case, the company still reported US$69.1 billion in revenue and US$13.9 billion in net income. For the quarter. It also announced that it still has US$116 billion in cash, cash equivalents, and marketable securities on its balance sheet. With almost absolute dominance in the global search market, it’s hard to argue that Alphabet isn’t still a top-tier company.

Turning to Amazon, this company reported US$127.1 billion in net sales for the quarter, which was up 15% year on year. Amazon is also a household name with a formidable scale and brand. The fact it can still grow its revenue by double digits when it is at 12 figures is enough to call it a quality company in my view.

Tesla might be the most divisive name in the Vanguard International Shares ETF’s portfolio. But there’s no denying the fact that it is the world leader in electric vehicle manufacturing and battery technology.

Its rise to become one of the largest companies in the world in only a few years is also almost unprecedented. Yet this is a company that still reckons it will increase its production rate by 50% this year.

So, all in all, I think the top five companies in the Vanguard International Shares ETF are of the highest quality. You don’t climb to the top of the global companies pile with mediocrity after all.

The post Does the Vanguard International Shares ETF contain ‘good’ quality companies? appeared first on The Motley Fool Australia.

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More reading

• Why Alphabet’s earnings disappointment is no reason to panic
• Apple’s latest price changes tell investors a lot about the future of the company
• The Core Lithium share price surged 25% in October. Here’s why
• Better cloud computing stock: IBM vs. Alphabet
• Microsoft beats back King Dollar and rising interest rates

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen has positions in Alphabet (A shares), Amazon, Apple, Microsoft, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Microsoft, Tesla, and Vanguard MSCI Index International Shares ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Vanguard MSCI Index International Shares ETF, and iShares Trust – iShares Core S&P 500 ETF. 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 luck of embattled All Ordinaries Index (ASX: XAO) share Codan Limited (ASX: CDA) appears to have taken a turn on Tuesday, with the stock posting one of its best days of the last 12 months.

The Codan share price is up 5.17% right now, trading at $4.07. The gain comes after it tumbled a whopping 59.6% over the first 10 months of 2022.

Meanwhile, the All Ords is lifting 1.06% following word the Reserve Bank of Australia has hiked interest rates by another 0.25% in November.

Codan develops electronics solutions – such as metal detectors and communication equipment – for governments, corporations, and consumers.

But what might be bolstering the All Ords share on Tuesday? Well, an insider has been indirectly buying Codan shares on the market, spending nearly $48,500 to do so.

Let’s take a closer look at the insider increasing their stake in the All Ords tech share.

Insider snaps up shares in All Ords tech company

The Codan share price is racing higher today amid an ASX release detailing an insider’s purchase of the company’s stock.

Director Kathy Gramp has bolstered her hold in the company, indirectly buying an extra 12,500 shares for close to $3.88 apiece. She now holds 28,000 shares in the All Ords tech favourite.  

The trade was made on Friday. That same day the stock closed at its equal-second lowest point since 2019 – $3.87.

The Codan share price has tumbled through 2022 despite posting strong earnings in August. Though, it was hampered by supply chain issues and long-lead times of components earlier this year.

Its suffering also came amid a broader tech sell-off. The S&P/ASX 200 Information Technology Index (ASX: XIJ) has fallen 33% so far this year while the S&P/All Technology Index (ASX: XTX) has plunged 31%.

Sadly, the company was dumped from the S&P/ASX 200 Index (ASX: XJO) earlier this year. Fortunately, however, its shares continue to live on the All Ords Index.

The post Guess which ASX All Ords share just caught a buy from an insider after falling 60% this year appeared first on The Motley Fool Australia.

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More reading

• The bear market rally has seen the ASX 200 jump five percent higher in October. It could all be about to run out of steam
• Why Codan, Coles, Medibank, and Pilbara Minerals shares are sinking
• Why is this ASX All Ords share crashing 20% 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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It’s been another fabulous day for ASX investors this Melbourne Cup day. At the time of writing, the S&P/ASX 200 Index (ASX: XJO) has gained a healthy 1.07% and is now going for just over 6,930 points. Clearly, the markets have been happy with what just came out of the Reserve Bank of Australia.  

So let’s now take a deeper dive into the market’s moves today and check out the shares that are currently topping the ASX 200’s share trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Tuesday

Whitehaven Coal Ltd (ASX: WHC)

First up today is the ASX 200 coal miner Whitehaven Coal. This Tuesday has had a sizeable 10.97 million Whitehaven shares dug up and sold thus far. We haven’t had any fresh news or announcements from the company today.

However, we have seen some wild swings in the Whitehaven share price which could explain this volume. Whitehaven shares are presently up by 0.61% at $9.08 a share. But this morning we had a dramatic spike in price all the way up to $9.26. It didn’t last too long though, with the share price quickly returning to a lower level.

Core Lithium Ltd (ASX: CXO)

Our next ASX 200 share is the lithium producer Core Lithium. We’ve seen a decent 18.5 million Core Lithium shares bought and sold on the share market so far. Like its lithium peer Pilbara, Core Lithium shares have surged in value today.

This one is up 3.75% at $1.44 a share after rising as high as $1.46 around lunchtime. Again, it looks like it’s this big share price gain that is the smoking gun for Core Lithium’s high volumes here.

Pilbara Minerals Ltd (ASX: PLS)

And it’s another ASX 200 lithium stock that takes the cup today in terms of share trading volumes. This Tuesday has had a notable 18.78 million Pilbara shares change hands as it currently stands. There’s been no price-sensitive news out from Pilbara today. However, we have seen a pretty hefty share price rise from the lithium star.

The Pilbara share price has presently gained a healthy 3.24% to $5.26 a share. It looks like it is this gain that has elicited the elevated volumes we are seeing.   

The post Here are the 3 most traded ASX 200 shares on Tuesday appeared first on The Motley Fool Australia.

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More reading

• Why is the Dreadnought share price struggling despite successful drill program
• Why is the Zip share price up 5% on Tuesday?
• These ASX 200 energy shares are leading the market higher on Tuesday
• Guess which was the best-performing ASX ETF in October
• Why are Origin shares burning 4% brighter 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 A2 Milk Company Ltd (ASX: A2M) share price has failed to climb with the market today.

In afternoon trade, the infant formula company’s shares are down 1.5% to $5.18.

This compares unfavourably to the ASX 200 index, which is up over 1% this afternoon.

Why is the A2 Milk share price underperforming?

The weakness in the A2 Milk share price appears to have been driven by the release of an update out of smaller rival Bubs Australia Ltd (ASX: BUB) on Monday.

That update revealed that trading conditions in the massive China market are particularly tough right now.

Bubs’ management explained:

Across the infant formula category, a significant number of brands have oversupplied the market, including local Chinese brands. This has created a significant decline in margin across all distribution partners. In addition, the cost of doing business has also increased on cross-border e-commerce, particularly as it relates to advertising spend. The category issue was exacerbated through a subdued result during the 6.18 shopping festival, and the oversupply by other brands is expected to continue through to the upcoming Double 11 festival.

This appears to have sparked fears that A2 Milk’s recovery could be under threat in the key market.

The good news is that investors won’t have long to wait to find out if that is the case. A2 Milk is holding its annual general meeting in a couple of weeks on 18 November. At the event, the company is likely to provide an update on trading conditions and its performance during the key Double 11 festival (Single’s Day event).

Stay tuned for that update!

The post Why is the A2 Milk share price underperforming on Tuesday? appeared first on The Motley Fool Australia.

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More reading

• Why A2 Milk, Argosy Minerals, Dicker Data, and Life360 shares are falling
• Why is the A2 Milk share price having a better end to the week than the index?
• Why is the A2 Milk share price falling today?
• Which ASX All Ords shares avoided a sell-off during the last recession?
• Looking to buy A2 Milk shares? Here’s what to watch at next month’s AGM

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 recommended A2 Milk. 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) was already enjoying a solid run today.

The benchmark index was up 1.0% at 2.30pm AEDT, despite a slide in US stock markets overnight.

Then the Reserve Bank of Australia (RBA) released its interest rate decision.

The RBA announced a 0.25% hike in interest rates, bringing the official cash rate to 2.85%. This was broadly in line with expectations, though the latest inflation data had an increasing number of analysts predicting a 0.50% increase.

Investors reacted by sending the ASX 200 up another 0.3% in the minutes following the release of the decision.

November marks the seventh consecutive month of interest rate hikes from the central bank.

It was only back on 3 May that interest rates still stood at a record low of 0.10%. The following day the RBA raised the rate by 0.25%, its first hike since November 2010. And in case you’re wondering, in November 2010, the cash rate got boosted to a rather tight 4.75%.

Atop today’s cash rate hike, the RBA board also increased the interest rate on Exchange Settlement balances by another 0.25%, taking that to 2.75%.

What did the RBA say about today’s interest rate hike?

Australia is not alone in struggling with high inflation, RBA governor Philip Lowe pointed out. But it is too high.

“Over the year to September, the CPI inflation rate was 7.3%, the highest it has been in more than three decades,” he said.

“Global factors explain much of this high inflation, but strong domestic demand relative to the ability of the economy to meet that demand is also playing a role.”

And getting back to the RBA’s 2% to 3% target range for inflation will require “a more sustainable balance between demand and supply”.

This would indicate ASX 200 investors should prepare to see the demand side of the equation take a greater hit over the months to come.

As for the Aussie economy, Lowe said it’s “continuing to grow solidly” with national income “boosted by a record level of the terms of trade”.

Next year, the RBA expects Australia’s economic growth to moderate alongside the wider global economy. Economic growth will also be impacted as “the bounce-back in spending on services runs its course, and growth in household consumption slows due to tighter financial conditions”.

The RBA’s central forecast for GDP growth was revised down, with the board now forecasting growth in 2022 of around 3.0%, with 1.5% expected in 2023 and 2024.

What about employment?

On the labour front, the unemployment rate of 3.5% remains at the lowest level in some 50 years. Wages are rising as well, though “lower than in many other advanced economies”.

The RBA expects wages growth to pick up “due to the tight labour market and higher inflation”.

If there’s one thing ASX 200 investors don’t care to hear, though, it’s uncertainty. And there’s a fair amount of that going around.

“One source of uncertainty is the outlook for the global economy, which has deteriorated over recent months,” Lowe said.

The eventual impact on household spending in the higher rate environment is another uncertainty.

What can ASX 200 investors expect next

ASX 200 investors look to have largely baked a further rise in inflation into the equation.

According to Lowe:

A further increase in inflation is expected over the months ahead, with inflation now forecast to peak at around 8% later this year. Inflation is then expected to decline next year due to the ongoing resolution of global supply-side problems, recent declines in some commodity prices and slower growth in demand.

The RBA’s central forecast for CPI inflation is around 4.75% in 2023 and then “a little above” 3% in 2024.

ASX 200 investors should also be aware this almost certainly won’t be the last rate hike from the RBA.

Lowe continued:

The board expects to increase interest rates further over the period ahead. It is closely monitoring the global economy, household spending and wage and price-setting behaviour.

The size and timing of future interest rate increases will continue to be determined by the incoming data and the board’s assessment of the outlook for inflation and the labour market.

The board remains resolute in its determination to return inflation to target and will do what is necessary to achieve that.

The post ASX 200 jumps higher following RBA rate announcement appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most traded ASX 200 shares on Tuesday
• Why is the A2 Milk share price underperforming on Tuesday?
• Why is the Dreadnought share price struggling despite successful drill program
• Why Graincorp, Nanosonics, NextDC, and Readytech shares are racing higher
• Why A2 Milk, Argosy Minerals, Dicker Data, and Life360 shares are falling

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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The Dreadnought Resources Ltd (ASX: DRE) share price is stalled today amid a drop in the price of base metals.

Dreadnought shares are currently trading at yesterday’s closing price of 11.5 cents apiece. For perspective, the S&P/ASX 200 Index (ASX: XJO) is up 1.09% at the time of writing.

Let’s take a look at what’s going on with the ASX mineral explorer share today.

What’s going on?

Western Australian company Dreadnought is exploring multiple metals including zinc, iron, lead, silver, and gold.

A dramatic fall in the zinc price overnight may have impacted the Dreadnought share price. Zinc slumped 5.07% overnight to US$2,678.5 a tonne.

Base metal prices fell amid rising COVID-19 cases and weak manufacturing data from China, Reuters reported.

The iron ore price also dropped 2.38% overnight to US$82 a tonne, Trading Economics data shows.

Today, Dreadnought advised of successful assay results for drilling at the Central Yilgarn Project in Western Australia.

The company confirmed a fertile VMS base metals system at the Nelson copper, lead, zinc, and silver target. Results included:

• 1m at 2.26% zinc, 2.27% lead, 53g/t silver and 0.1 g/t gold from 157m at drill hole NERC006

At Spitfire, Dreadnought discovered thick high-grade goethite-hematite iron ore. Results included:

• 20m at 61.0% iron, 0.98% aluminum oxide., 2.99% silicon dioxide, 0.06% phosphorus, 8.2% LOI from 22m at drill hole SPRC001A

Management comment

Commenting on the news, managing director Dean Tuck said:

These results are a timely reminder of the potential at Central Yilgarn which represents a significant opportunity in an underexplored region.

We view Central Yilgarn as a valuable project in the portfolio with opportunity for commercialisation of a range of commodities and exploration success.

Share price snapshot

Despite today’s stagnation, the Dreadnought share price has soared almost 200% in the past year, while it has gained 170% year to date.

In the past month, Dreadnought shares have climbed 13%.

Dreadnought has a market capitalisation of about $334 million based on the current share price.

The post Why is the Dreadnought share price struggling despite successful drill program appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most traded ASX 200 shares on Tuesday
• Why is the Zip share price up 5% on Tuesday?
• These ASX 200 energy shares are leading the market higher on Tuesday
• Guess which was the best-performing ASX ETF in October
• Why are Origin shares burning 4% brighter 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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The S&P/ASX 200 Index (ASX: XJO) is on form and on track to record a strong gain. In afternoon trade, the benchmark index is up 1.1% to 6,940.1 points.

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

Graincorp Ltd (ASX: GNC)

The Graincorp share price is up 5% to $8.79. Investors have been buying this grain exporter’s shares after wheat prices stormed higher. This is the second day in a row that the Graincorp share price has been racing higher, stretching its week to date gain to 13%.

Nanosonics Ltd (ASX: NAN)

The Nanosonics share price is up almost 3% to $4.23. This may have been driven by a broker note out of Bell Potter this morning. According to the note, the broker has upgraded this infection prevention company’s shares to add rating with a $4.87 price target. The broker made the move on valuation grounds following recent share price weakness.

NextDC Ltd (ASX: NXT)

The NextDC share price is up 6% to $8.83. This morning the team at Macquarie reiterated its outperform rating on this data centre operator’s shares with a trimmed price target of $11.40. The broker notes that the NextDC share price has fallen heavily this year, creating a buying opportunity.

Readytech Holdings Ltd (ASX: RDY)

The Readytech share price is up 27% to $4.12. Investors have been scrambling to buy this enterprise software company’s shares after it received a takeover offer. Readytech has received a conditional, non-binding indicative proposal from funds managed or advised by Pacific Equity Partners (PEP) to acquire it by way of a scheme of arrangement at an offer price of $4.50 per share. This was a 38.9% premium to its last close price.

The post Why Graincorp, Nanosonics, NextDC, and Readytech shares are racing higher appeared first on The Motley Fool Australia.

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More reading

• ReadyTech becomes latest ASX tech share targeted for a takeover
• Fundie reveals 3 ‘top notch’ ASX shares to buy right now
• Here are the top 10 ASX 200 shares today
• Wheat woes: Why the Graincorp share price is charging 8% to the upside today
• Here are the 10 most shorted ASX shares

Motley Fool contributor James Mickleboro has positions in NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Nanosonics Limited and Readytech Holdings Ltd. The Motley Fool Australia has positions in and has recommended Nanosonics Limited. The Motley Fool Australia has recommended Readytech Holdings Ltd. 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on form again and on course to record a strong gain. At the time of writing, the benchmark index is up 1% to 6,930.9 points.

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

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is down 2% to $5.15. This may have been driven by concerns over the state of the infant formula market in China. On Monday, a smaller rival revealed that the market was being flooded by suppliers. This could lead to softening demand, discounting, and weaker margins.

Argosy Minerals Limited (ASX: AGY)

The Argosy Minerals share price is down 4% to 49.5 cents. This follows the release of an update on the development of the Rincon Lithium Project in Argentina. That update reveals that 98% of the 2,000tpa operational development work is now complete. However, investors appear frustrated with the slow progress given that 97% of the work was complete last month.

Dicker Data Ltd (ASX: DDR)

The Dicker Data share price is down almost 3% to $10.47. This morning Ord Minnett responded to the company’s third quarter update by maintaining its hold rating with an $11.50 price target. The broker notes that Dicker Data’s third quarter performance was impacted by rising costs and supply chain pressures. Though, on the positive side, the broker highlights that demand remains strong and its order book is elevated.

Life360 Inc (ASX: 360)

The Life360 share price is down 3% to $6.71. This is despite there being no news out of the location technology company. However, it is worth noting that the Life360 share price rose 40% in October. This may have led to some investors taking a bit of profit off the table on Tuesday.

The post Why A2 Milk, Argosy Minerals, Dicker Data, and Life360 shares are falling appeared first on The Motley Fool Australia.

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More reading

• What’s going on with the Dicker Data share price on Monday?
• 3 ASX All Ords shares starting the week on fire
• These ASX dividend shares have been named as buys
• Analysts name 2 ASX growth shares to buy next week
• If you invested $5,000 in each of these ASX shares 10 years ago, you’d be a millionaire today

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 Dicker Data Limited and Life360, Inc. The Motley Fool Australia has positions in and has recommended Dicker Data Limited. The Motley Fool Australia has recommended A2 Milk. 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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