FY21 has been a positive year for blue chip shares with the S&P/ASX 200 Index (ASX: XJO) rising 20.44%. A great result compared to this time last year when the ASX 200 had plummeted 11 per cent amid the economic impacts of COVID-19.

The index is the benchmark for Australian equity performance as it lists the 200 largest ASX stocks. We take a look at 3 ASX 200 stocks that were growth outliers in FY21.

Netwealth Group Ltd (ASX: NWL)

In the past 12 months, the Netwealth share price has shot up more than 76%. As well as more than tripling the ASX 200 index increase, the company has also exceeded the Australian Capital Markets industry which returned 20.8% over the past year.

It seems Netwealth has been riding the perfect storm. In its half-yearly report, the financial services company increased its funds under administration (FUA) for the half by $7.3 billion, or around 23%, taking its total FUA as at 31 December 2020 to $38.8 billion.

In April, Netwealth released its third-quarter update which showed Netwealth's FUA had reached $41.8 billion. An increase of $3 billion or 7.8% since the end of December, including a positive market movement of $0.8 billion.

As of 29 June, investment company BlackRock put the average price-to-earnings (P/E) ratio across the ASX 200 at 24.47. Netwealth's P/E ratio currently sits at 78.53. The Netwealth share price was trading at $16.75 at market close on Thursday.

Goodman Group (ASX: GMG)

The Goodman Group share price increased 34.3% over the past 12 months. The property group also performed well when compared to the real estate investment trust (REIT) industry which returned 24% over the same time.

Goodman is a property services group with a $39 billion market cap. In its half-year results for the six months ended 31 December, the company reported a 16% increase in operating profit to $614.9 million. In addition, demand for its properties were so strong, that the company leased an additional 1.9 million square metres. 

Goodman ended the third quarter on a positive note, its earnings results for that period showing a net property income increase of 3.3% and an occupancy rate standing at 98%.

Goodman's P/E ratio currently stands at 22.4 which appears a fair value compared to the index. The Goodman share price closed at $21 on Thursday.

Sonic Healthcare Limited (ASX: SHL)

Sonic Healthcare was another top performer in FY21, returning a solid 24% lift over the last 12 months. This beats the ASX 200 index as well as the Australian healthcare industry which increased over the same period by 18%.

Sonic Healthcare is a global pathology and medical imaging provider. In February, Sonic's half-yearly report was full of positive news including revenue growth of 33% to $4.4 billion, earnings before interest, tax, depreciation and amortisation (EBITDA) growth of 89% to A$1.3 billion and net profit growth of 166% to $678 million.

In June, Sonic took a significant step, by acquiring the Canberra Imaging Group (CIG). The company called this "a positive step" in the development of its imaging division in Australia.

On 30 June, Sonic shares hit an all-time high of $38.51. Despite the growth, Sonic Healthcare is still well-priced according to its P/E ratio of around 19.

The Sonic share price was trading at $38.08 at Thursday's market close.

The post 3 blue chip shares that smashed the ASX 200 index in FY21 appeared first on The Motley Fool Australia.

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Motley Fool contributor Frank Tzimas has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Netwealth. The Motley Fool Australia owns shares of and has recommended Netwealth. The Motley Fool Australia has recommended Sonic Healthcare Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Resource Development Group Ltd (ASX: RDG) shares were riding a wave of optimism today after the company announced a significant increase in its mineral resource estimate. By Thursday's market close, the Resource Development share price was trading 14.29% higher at 4.8 cents.

What boosted Resource Development shares?

The Resource Development share price jumped by around 40% to an intraday high of 5.9 cents following the company's latest announcement.

Resource Development advised that its wholly-owned Lucky Bay Garnet project, which is located between the coastal towns of Kalbarri and Port Gregory in Western Australia, reported an increase of mineral resource tonnage of 1,808% from 23Mt to 438.8Mt. Its total mineral resource of garnet increased an incredible 1,520% from 1Mt to 16.2Mt.

The company further advised that 86% of mineral resource tonnage (379.5Mt) has been classified as indicated and measured. This means the company has undergone enough sampling to have a high degree of confidence in the grade, quantity, and physical characteristics of the mineral. 

What's the significance of the Lucky Bay project?

Resource Development acquired Lucky Bay in February 2021. According to the company, the location — 580km from Perth — shares a common border with the world's largest supplier of high-quality alluvial garnet.

The company clarified that high-quality alluvial garnet products are used in the abrasive blasting and waterjet cutting markets. Resource Development believes there are opportunities to supply the coarse-grade version of the product, which it says is undersupplied.

What did management say?

Resource Development Group managing director Andrew Ellison is confident in progressing the business to project development studies. He said:

This significant Mineral Resource upgrade is an outstanding result and confirms the upside potential we identified when RDG first evaluated the potential at Lucky Bay. With 86% of the Mineral Resource in the Measured and Indicated categories, we can proceed with project development studies with a high level of confidence.

First production is being targeted for early 2022.

Resource Development share price snapshot

Despite today's gains, the Resource Development share price has fallen by almost 6% so far this year. It has, however, gained around 55% over the past 12 months.

Based on the current share price, the company has a market capitalisation of around $135 million.

The post Why the Resource Development (ASX:RDG) share price climbed 14% today appeared first on The Motley Fool Australia.

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Motley Fool contributor Frank Tzimas 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 Bruce Jackson.

Shares in Neometals Ltd (ASX: NMT) are surging today after news that the miner plans to demerge its Mt Edwards Nickel Project in Western Australia into a new company.

The new entity, Widgie Nickel Limited, will seek ASX-listing post demerger.

At the time of writing, the Neometals share price is up 7.29% trading at 52 cents.

Neometals engages mainly in mineral exploration, extracting valuable metals, including lithium and titanium.

Why is the Neometals share price up today?

According to the announcement, Neometals shareholders will receive new Widgie Nickel shares at no cost, but on a pro rata basis in proportion to their existing shareholdings. 

The company said the share distribution was an 'in-specie', which involves the transfer of shares rather than in the equivalent amount of cash. The demerger is subject to shareholder approval.

Neometals said that Widgie Nickel shareholders would be entitled to participate in an entitlement offer to acquire more Widgie Nickel shares. 

Neometals managing director Chris Reed had this to say about the news:

The demerger and return of our Mt Edwards asset offers existing Neometals shareholders the opportunity to realise the inherent long-term value of this exciting development story in a discrete, nickel focussed corporate vehicle.

Potential of Widgie Nickel 

Located on the Widgiemooltha Dome, Widgie Nickel has 7 "world-class nickel mines and hosts Australia's newest high-grade nickel mine", according to the release.

Reed described the assets as "highly deserving of their own time and attention, and the recent metallurgical results from just one of the deposits that revealed high grade palladium reporting to concentrate, demonstrates just some of what can be achieved with a dedicated focus".

The company said it was expected that Widgie Nickel would be able to realise Mt Edwards long-term latent value, as it would engage dedicated resources allowing Neometals to focus on its core battery materials projects.

Subject to the demerger going ahead, the company will apply for a possible ASX listing of Widgie Nickel by the fourth quarter in 2021, with further information to be released in the coming weeks. 

The Neometals share price has continued to outperform, finishing FY21 with a 200% gain.

The post Why the Neometals (ASX:NMT) share price is up 7% today appeared first on The Motley Fool Australia.

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• Lovisa vs Universal Store shares: Which ASX retail stock is the better buy today?

Motley Fool contributor Frank Tzimas 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 Bruce Jackson.

The Cettire Ltd (ASX: CTT) share price is rocketing today after the company announced an expansion in its children's wear segment. 

At the time of writing, the Cettire share price is up 6.82%, trading at $2.82 after reaching an intraday high of $2.86 this morning.

Today's uplift is likely to be welcome news for the global luxury online retailer and shareholders, after the company's shares were decimated in mid-June, dropping 21%. The drop in the Cettire share price came after questions about the authenticity of its products and concerns over its business model.

The company markets itself as an online destination exclusively for luxury fashion. On its e-commerce site, it has products from some 500 designers, with brands such as Prada, Gucci, Saint Laurent, Balenciaga and Valentino.

Why is the Cettire share price moving today?

In today's release, Cettire confirmed its category expansion into the children's wear segment. The launch includes a new website vertical where the company plans to host 6,000 children's wear products and will seek to expand its range over time.

Cettire advised the children's wear range was now live, with shipping available to more than 50 markets.

What did management say?

Cettire CEO Dean Mintz said the foray into children's wear increased Cettire's addressable market, and also the spend of its current customers.

The children's wear category is an attractive adjacent segment in the luxury apparel industry. We are excited by the expansion of Cettire into children's wear and see excellent growth prospects for this category.

He added that the expansion "highlights the inherent scalability of our business model, which does not require inventory investment."

The post Cettire (ASX:CTT) share price lifts 7% on expansion news appeared first on The Motley Fool Australia.

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• Lovisa vs Universal Store shares: Which ASX retail stock is the better buy today?

Motley Fool contributor Frank Tzimas has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Cettire Limited. The Motley Fool Australia has recommended Cettire Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Emerald Resources NL (ASX: EMR) shares surged in morning trade after the mining company released a progress update on its 100% owned, flagship Okvau gold mine. The company announced it had its maiden gold pour, producing two gold bars weighing a combined 8.6kg.

As a result, the Emerald Resources share price jumped up by more than 12% this morning. Unfortunately for shareholders, the surge was short-lived, with the company's shares closing flat for the day at 90 cents apiece.

First mover advantage

According to Emerald Resources, it was a first mover in the emerging gold province in Cambodia, securing a mineral investment agreement and an industrial mining licence over the Okvau Gold Project.

The Okvau mine's gold production is expected to output more than 100,000 ounces of gold per annum. This is in line with the company's definitive feasibility study released on 1 May 2017 and subsequently updated on 26 November 2019.

What did management say?

The past two months have been busy for Emerald Resources. The company has been focused on the construction of the Okvau substation and connecting the remotely located plant to key utilities.

Today's update was seen "as a major milestone for the company and Cambodia, as the project becomes the first modern large scale mine to operate in the country", according to Emerald Resources managing director Morgan Hart.

He further stated that "This marks the creation of a new industry for Cambodia bringing opportunities and benefits for the people of Cambodia".

Hart also paid kudos to his team which had remained on schedule and on budget for the first gold pour, despite the logistical challenges brought on by the pandemic. 

Emerald Resources share price snapshot

Over the last 12 months, the Emerald Resources share price is up over 68%, beating the ASX Materials sector by around 42% over the same time. Based on the current share price, the gold miner has a market capitalisation of around $464 million.

The post Why the Emerald Resources (ASX:EMR) share price jumped 12% this morning appeared first on The Motley Fool Australia.

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Motley Fool contributor Frank Tzimas 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 Bruce Jackson.

Trading in Arafura Resources Limited (ASX: ARU) shares has been halted following the announcement of a capital raise. The Arafura share price is currently frozen at Monday's closing price of 16.5 cents.

The company's ASX announcement yesterday did not go into any detail regarding the capital raising, but according to the Australian Financial Review (AFR), Arafura is seeking $40 million to shore up its engineering investment and provide extra capital. 

The AFR report said Arafura was offering shareholders 12 cents a share — a 29% discount on the price that the company shares closed at on Monday. The company is expected to resume normal trading on Thursday.

More capital?

The capital raising is in addition to Arafura's announcement last week that it had received a letter of support from the Northern Australia Infrastructure Facility (NAIF) to a potential debt facility worth up to $100 million.

The company said the facility would be over a 15-year term and formed part of the funding package for its Nolans Rare Earth Project in the Northern Territory.

The Nolans mine is Arafura's main project and focuses on neodymium-praseodymium (NdPr), a substance required in electric vehicles.

In an announcement in May, the company advised its feasibility study found Nolans "has a mine life of 38 years and the ability to produce 4,440 tonnes of NdPr oxide each year". Arafura expects earnings before interest, tax, depreciation, and amortisation (EBITDA) for the Nolans project to be $354 million a year.

It was reported in the AFR that the rare earths company would be able to supply 5% to 10% of the world's magnet supply.

Arafura share price snapshot

Arafura has had a great year. The Arafura share price is up 183% over the last 12 months while the Australian metals and mining industry is up 25% over the same period. Its share price has lifted more than 30% since January alone.

The company has a market capitalisation of $193 million.

The post Arafura (ASX:ARU) share price frozen ahead of capital raising appeared first on The Motley Fool Australia.

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• Guess why this ASX stock is jumping 4% on Friday?

Frank Tzimas 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 Bruce Jackson.

At the G7 Summit on Sunday, a joint declaration was signed between Germany and Australia to boost cooperation on commercialising and purchasing green hydrogen. Prime Minister Scott Morrison and German Chancellor Angela Merkel have agreed to set up a German-Australian hydrogen innovation and technology incubator. 

The deal will be backed up with $50 million in funding from Australia and 50 million euros (A$78 million) from Germany.

Dr Michael Zettinig, head of governmental affairs at the German-Australian Chamber, said:

It is a great win for Australia as a future exporter and for Germany as a purchaser and technology partner. This gives both countries a competitive edge in the global hydrogen landscape.

With green hydrogen seemingly constantly in the news, let's take a look at 3 ASX hydrogen shares operating in the sector.

3 ASX shares involved with hydrogen

Fortescue Metals Group Limited (ASX: FMG)

The chair of Fortescue, Andrew 'Twiggy' Forrest, is one of green hydrogen's biggest proponents.  

As reported in the Australian Financial Review on 15 June, Forrest is planning on developing green energy projects in various locations in Africa. He reportedly has investors primed to inject more than $US100 billion into producing green hydrogen that will be aimed at European markets.

The ASX blue-chip company is planning on investing billions into hydrogen fuel as it aims for net-zero emissions by 2040. The Fortescue share price is up by more than 60% over the past year.

Hazer Group Ltd (ASX: HZR)

According to the company's literature, Hazer Group operates in the research and development of graphite and hydrogen production technology.

Part of the company's mission is to develop innovative solutions using its technology to serve the global industrial hydrogen market. Hazer is aiming to produce hydrogen at a lower cost than other alternatives and reduce the carbon footprint of its customers.

The $135.16 million cap company has had a great 12 months, with the Hazer share price rising by around 137% over the past year. 

Province Resources Ltd (ASX: PRL)

The Province Resources share price hit an all-time high in April when the company announced its global green hydrogen project agreement. Signed on 16 April, the company entered a memorandum of understanding with global renewable energy leader Total Eren. The joint venture with the French company will develop a potential 8-gigawatt green hydrogen project in Australia.

Province Resources is valued at around $152 million and has had an astonishing 12 months growing its share price by more than 640%.

So why all the fuss with green hydrogen? 

As highlighted by an ABC report earlier this year, green hydrogen is made without fossil fuels and "has been identified as the clean energy source that could help bring the world to net-zero emissions". According to the article, green hydrogen can be used in the fuel cells of electric cars and trucks as well as container ships. Green hydrogen also has the potential to be used instead of coal via "green steel" refineries which burn hydrogen instead.

Other uses also see hydrogen-powered electricity turbines used to generate power and as a substitute for natural gas for cooking and heating in homes.

Foolish takeaway

There appears to be somewhat of a money trail following green hydrogen lately. The European Union plans to scale up renewable hydrogen projects and invest a cumulative amount of 470 billion euros ($740 billion) by 2050.

With that sort of investment splashing around, it is difficult not to get excited by the newly formed German-Australian hydrogen deal and what it could potentially mean for Australian companies that already have a green hydrogen vision.

The post Why green hydrogen is in the news again and 3 ASX shares in the sector appeared first on The Motley Fool Australia.

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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 Bruce Jackson.

ELMO Software Ltd (ASX: ELO) has been a popular tech stock for investors over the years. But it's been a different story in the last 12 months with the Elmo share price taking a beating, down 35%.

ELMO is a cloud-based human resources and payroll software company that provides businesses in Australia, New Zealand and the United Kingdom with a unified platform that streamlines a range of everyday processes.

Let's take a closer look at what might be affecting the ELMO share price.

Why the drop?

We can turn to share price dilution as one possible explanation for the decline. In May 2020, the company announced it was planning to raise $70 million through an institutional placement, and a further $20 million through a share purchase plan offered to existing shareholders.

As typical with capital raising, these shares are usually offered at a discount, putting downward pressure on a company's share price. This is possibly what happened to the ELMO share price after it dropped from its May high.

In addition, ELMO declared in its FY20 report that it made $50.1 million in revenue. All good, except the expectation for its previous guidance was between $50 million and $52 million.   

Also in May, the Australian Financial Review reported that James Dougherty from Lennox Partners believed that ELMO operated in a very competitive part of the market, and although revenue had been growing organically, cash flow losses were growing steadily every year.

More recent results

ELMO's first-half FY21 results were more encouraging. Total revenues came in at $30.6 million for the half, an increase of almost 30% over first-half FY20. Annualised recurring revenue was $74.2 million, an uplift of 43%, while earnings before interest, tax, depreciation and amortisation expenses (EBITDA) was close to breakeven at -$0.8 million.

Last month, Elmo announced its FY21 guidance. The company projected its annualised recurring revenue (ARR) to come in at $83 million to $85 million. The market appeared to be disappointed as this result was within the mid-range of the previous $81.5 million to $88.5 million indicated.

Similarly, revenue was set to increase between $68 million to $70 million. Previously, the company had revenue set at $65 million to $71 million for FY21. 

So according to the FY21 update, ELO upgraded revenues by 1% ($65m – $71m upgrade $68m – $70m) and downgraded ARR by 1% ($81m – $88m upgrade $83m – $85m). 

Brokers say heaps of growth left

It seems that brokers like ELMO's recent acquisitions of complementary businesses Breathe and Webexpenses.

One such broker is Shaw and Partners, which maintained a buy on the stock after attending ELMO's recent FY21 virtual investor technology day. The day was based around demonstrating ELMO's recently acquired Webexpenses product. 

The broker's takeaways from the conference were that Webexpenses has continued to grow in the UK, and despite the recent start, it was already making sales in Australia and New Zealand. The broker was also buoyed by the Breathe hard launch which remains on track for July in ANZ. Shaw and Partners' price target is $8.85.

Morgan Stanley also stands by the company, in May, it retained its overweight rating and $9.70 price target on its shares.   

Foolish takeaway

The ELMO share price has lost almost 35% over the past year. The company's shares hit a 52-week high of $7.86 last June. At the time of writing, shares in the company are down 1.24% trading at $4.78.  

The good news is that brokers are still bullish on the stock and, according to their price targets, believe there are great margins to be made on the current ELMO share price.

The post ELMO (ASX: ELO) share price has taken a beating, down 35% in 12 months appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX 200 shares today
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• 4 ASX shares that pay a dividend yield of 8% (or more)
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Motley Fool contributor Frank Tzimas has no position in the shares mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Elmo Software. The Motley Fool Australia owns shares of and has recommended Elmo Software. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Shares in the Alcidion Group Ltd (ASX: ALC) share price have rocketed 20% in the last 30 days, and are up 163% in the last 12 months. At yesterday's market close, the Alcidion share price was trading at 44 cents.

Let's look at some of the news around the tech company's recent share market performance.

A quick company snapshot

Alcidion helps healthcare organisations "harness the power of technology" to create digitally enabled care. In other words, its platforms support medical professionals to make decisions.  Artificial intelligence and real-time visualisation are some of the capabilities of Alcidion's technology.

It's flagship product, Miya Precision provides clinicians with actionable insights that directly impact patient care. The company's tech is used in 322 hospitals across the United Kingdom, Australia, New Zealand with 130,000 active users. 

Strong organic growth

In its March quarterly update the company reported strong organic growth adding $4.8 million of contracted revenue in the third quarter, of which $3 million will be recognised in FY21. 

In other highlights, there was a positive net operating cash flow of $2.8M for Q3 FY21 and contracted revenue of $24.7M expected to be recognised in FY21.

ExtraMed acquisition

The significance of the news in April that Alcidion acquired ExtraMed, a UK national health service (NHS) software provider, was not lost on investors.

The acquisition positioned Alcidion at the forefront of the UK deployment of patient flow management software, according to the company. 

Alcidion expects the acquired ExtraMed business to add approximately $2.7 million in FY22 revenue and $0.5 million earnings before interest, tax, depreciation and amortisation (EBITDA) from its existing contracts. 

As a result, the acquisition will boost Alcidion's exposure to 27 NHS trusts.

Defence Department contract

Closer to home, the Australian Department of Defence has selected Alcidion to utilise its Miya Precision digital product to improve occupational care in the defence force.

As the preferred provider for a $21 million Department of Defence contract, Alcidion will help capture data and support clinical decision-making across the Australian Defence force.

Foolish takeaway

There has been a push in the medical industry to use technology to enable more accurate and efficient decision-making in a paperless environment. Judging by the Alcidion share price gains of the past 12 months, the company appears to be positioning itself as a global frontrunner in the field.

The post Why has the Alcidion (ASX:ALC) share price rocketed 20% in the last month? appeared first on The Motley Fool Australia.

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

City Chic Collective Ltd (ASX: CCX) shares had a bumper day on Wednesday, surging to a new all-time high of $5.14 in intraday trading. By market close, the City Chic share price had edged slightly lower, finishing the day up by 4.29% to $5.12.

Let's take a closer at some of the events that have helped boost the apparel, footwear and accessories retailer for plus-size women this year.

First we take Manhattan

The City Chic share price may be benefitting from a number of positive announcements over the last few months. Recent acquisitions of the Evans and Avenue brands have allowed the company to expand its footprint in the United States, the United Kingdom and Europe.

Specifically on the US opportunity, City Chic notes there is significant market share to be gained in the US$49 billion market. The company is attempting to build on its growth trajectory, with the cross-selling of City Chic products to Avenue customers and marketing campaigns to grow its customer base and re-engage existing customers.

In its presentation to investors on 5 May, City Chic announced it wants to lead 'the world of curves' — a women's plus-size market forecast to grow by 7% annually. The company pointed to a number of factors underpinning its growth plans. Firstly, the average annual spend in the plus-size category is currently materially less than the rest of the women's apparel market. Secondly, according to City Chic, there is an increasing population of plus-size women globally.

Also in the company's presentation, City Chic said comparable store sales growth and customer numbers in the June half-year to date are accelerating. Structural tailwinds are also helping, as sales on the City Chic website in the US have returned to pre-pandemic growth rates. There is also City Chic's clear focus on online sales, where the company represents 25% of total plus-size sales globally. City Chic believes it can grow that number significantly.

More acquisitions to come

As also reported by the Australian Financial Review last month, City Chic chief executive Phil Ryan, and chief financial officer Munraj Dhaliwal, told the Macquarie Australia Conference the group was cashed up, after raising $110 million last July.

Management also highlighted that acquisitions in new markets facilitate speed to market and enable the company to acquire new customers faster. Although, the company did point out its growth plans are not only acquisition-led. 

City Chic's market entry into Europe is a key piece of the growth puzzle. The company points to a significant opportunity in the US$45 billion market and is well-progressed with its launch expected in the first half of FY22.

The numbers tell the story

Another catalyst that may be boosting the City Chic share price in 2021 could be the solid numbers that came out of the company's half-yearly report released in February. City Chic showed sales growing 13.5% to $119 million. Furthermore, underlying earnings before interest, tax, depreciation and amortisation (EBITDA) grew 21.8% to $23.3 million with the EBITDA margin increasing from 18.2% to 19.6%.

City Chic's online trade has also accelerated in the last 12 months. In the first six months of FY21, 42% of the company's sales were transacted online.

City Chic share price snapshot

Following today's gains, the City Chic share price is trading around 25% higher in 2021. The company's shares have surged by around 20% in the past month alone. Over the last year, City Chic shares have jumped by around 88%.

Based on the current share price, City Chic has a market capitalisation of $1.2 billion.

The post City Chic (ASX:CCX) share price leaps to new all-time high appeared first on The Motley Fool Australia.

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• Here are the top 10 ASX 200 shares today
• Treasury Wine Estates vs Temple & Webster: Which beaten down ASX stock is better value?
• 4 ASX shares that pay a dividend yield of 8% (or more)
• 2 ASX blue chip shares that won't be hit by $100 oil
• Lovisa vs Universal Store shares: Which ASX retail stock is the better buy today?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The Actinogen Medical Ltd (ASX: ACW) share price has been an investor's dream of late, rising 414% in the last 3 months and 552% over the last 12 months. With a raft of good news for the biotechnology company lately, we take a closer look.

Actinogen has a large addressable market, developing drugs for Alzheimer's disease and the cognitive decline associated with other neurological and metabolic diseases. Its main focus is a drug called Xanamem, a molecule enzyme inhibitor that restrains excess cortisol production inside brain cells. Cortisol is otherwise known as the stress hormone.

So what's there to like about Actinogen?

On 5 February, the United States Food and Drug Administration (FDA) granted Actinogen's drug Xanamem a rare paediatric disease designation for the treatment of Fragile X syndrome. The approval is significant as it includes commercial, development and regulatory benefits, as well, it allows a priority review designed to increase overall speed to market.  

Fragile X syndrome is a rare and serious genetic disorder, typically diagnosed in children but with life-long symptoms. The announcement put the company front and centre on the world stage, and investors took note.

Recently, on 2 June, Actinogen announced the progression of its clinical development program to treat patients with Alzheimer's Disease. The company received approval from the Bellberry Human Research Ethics Committee to commence the first part of the XanaMIA study, designed to study improvements in cognitive ability in older volunteers, and patients with Mild Cognitive Impairment, the first clinical-stage of Alzheimer's Disease. 

A new CEO is taking the wheel

The appointment of the company's new CEO, Dr Steven Gourlay, on 15 March, also appears to have had a positive effect on the Actinogen share price.

Gourlay's CV is impressive; he was the founding chief medical officer at US-based Principia Biopharma Inc and was responsible for the supervision of multiple preclinical, first-in-human, Phase 2 and 3 clinical trial programs. The trials focused on four small molecules in orphan immunological diseases, multiple sclerosis and cancer. Dr Gourlay's work supported a successful NASDAQ IPO of Principia Biopharma Inc. in 2018,  subsequently followed by an acquisition by Sanofi for US$3.7B in 2020.  

In addition, investors like to see insiders who increase their skin in the game. At the end of March, Actinogen director George Morstyn acquired 2,550,000 shares in the company at a value of almost $72,000. 

With proven management, trials progress globally and insiders willing to invest in the company, it seems the stars are aligning quite nicely. The Actinogen share price is trading at 16 cents at the time of writing.

The post Why is the Actinogen (ASX:ACW) share price up 414% in 3 months? appeared first on The Motley Fool Australia.

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Motley Fool contributor Frank Tzimas 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 Bruce Jackson.

Shares in Imugene Limited (ASX: IMU) continue to be among the most traded shares on the market. Unfortunately for investors, the Immugene share price has been on a heavy losing streak this week, falling 14% in the last 5 days.

Imugene is a clinical stage immuno-oncology company currently developing a range of new treatments that seek to activate the immune system of cancer patients to identify and eradicate tumours.

The company is conducting a number of trials including HER-Vaxx, an immunotherapy to treat tumours that over-express the HER-2/neu receptor, such as gastric, breast, ovarian, lung and pancreatic cancers.

The Imugene share price has been volatile recently, rising from 12 cents in April to a record high of 50 cents at the end of May, more than tripling its value.

June has brought a change in fortune, however, with shares sliding back to their current price of 32.5 cents apiece. With no negative announcements from the company, let's take a look at what's been happening recently.

Recent announcements

Since April, the company has released several announcements that have sent the Imugene share price surging higher.

One significant release came on 21 April when Imugene announced that the second clinical endpoint for its HER-Vaxx clinical studies had been met.

On 18 May, Imugene declared it had entered into an agreement with City of Hope, an independent cancer research and treatment centre, to license the patent for its CD19 therapy.

It was a world first, with the technology under the license being an extension of chimeric antigen receptor (CAR) T cell cancer therapy, which has the potential to treat solid cancers. Imugene plans to begin its first clinical trial of CD19 in 2022.

Following that announcement, banking firm FROTH Capital raised the Immugene share price target to 42 cents. This was based on a number of factors, including the projected future revenue of Imugene CHECKvacc, HER-Vaxx, and PD1-Vaxx trials.

With the biotech's surging share price a likely reflection of its significant announcements in the world of immunology, the latest price drop is a bit of a mystery. It's possible there could be some profit-selling at play.

The good news today is the Imugene share price is lifting again, up 3.8% trading at 32.5 cents at the time of writing.

The post The Imugene (ASX:IMU) share price has fallen 14% in the last 5 days appeared first on The Motley Fool Australia.

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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 Bruce Jackson.

It's been a long road back for IDP Education Ltd (ASX: IEL) after the education provider was hit hard by COVID-19 last year.

IDP provides international student placement services and English language testing services.  Although the company has been starved of its staple — international students — the IDP Education share price has climbed almost 33% in the past 12 months.  

One school of thought among analysts says that the longer the pandemic drags out, the stronger the IDP Education market position will be at the end of it. This is because many smaller competitors will fail to survive the crisis. Commentators are confident that the industry will rebound for those with strong balance sheets.

Foundations there to take advantage of a rebound

Although down on most performance metrics, IDP Education's half-yearly report said that English language testing volumes were broadly in line with those experienced in the final month of 2019 before the pandemic. In fact, International English Language Testing System (IELTS) volumes rebounded from April/May lows to record a 49% increase.

The company told the recent Macquarie Australia Conference presentation that IELTS performance was an indicator for the health of the industry.

IDP Education also noted that a strong balance sheet of $299m and undrawn working capital facilities provided the foundations for further investment. The company is also planning to expand staff and increase marketing spend to drive future performance.

IDP Education stated that: 

With unmatched services, global footprint and data insights, our teams are ready to lead the industry rebound.

Brokers back IDP Education

Morgans is expecting IDP Education to grow its market share meaningfully once the pandemic passes. The broker remains positive for the company, placing an add rating and $28.48 price target on its shares.

Goldman Sachs also believes that IDP Education will be in a strong position when conditions return to normal thanks to its strong balance sheet and access to capital markets.

IDP Education share price snapshot

It's been a long road back for IDP Education shares after the price crashed to $11.56 in March last year. The IDP Education share price peaked at $28.41 in February 2021 and is trading at $22.81 at the time of writing.

Despite the optimism for a rebound, IDP Education currently has a price to earnings (PE) ratio of 86.43, which means that the share is priced at an optimum. The Australian Consumer Services industry average PE ratio is 22.

The post Why has IDP Education (ASX:IEL) share price risen 33% in the last 12 months? appeared first on The Motley Fool Australia.

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none held

Trading in Asaleo Care Limited (ASX: AHY) shares will cease at the ASX market close today, following Federal Court approval yesterday of the company's proposed scheme of arrangement. This will effectively allow the takeover of its shares by Essity Holding.

In a further announcement this morning, Asaleo Care advised that the scheme was now legally effective. An office copy of the court orders lodged with the Australian Securities and Investments Commission (ASIC) was attached to this announcement.

The hygiene company first announced in December 2020 that it had entered an agreement for hygiene and health company Essity to acquire the remaining 63.8% of its shares at $1.40 apiece. Asaleo Care is listed on the ASX and Essity is its largest shareholder, currently holding 36.2% of the shares.

A scheme of arrangement is a court-approved agreement between a company and its shareholders. According to legal firm MinterEllison, it allows a company to reconstruct its capital, assets or liabilities with the approval of its shareholders and the court.

According to Asaleo Care's announcement yesterday, the purpose of the scheme meeting held on 1 June was for Asaleo Care shareholders to consider and vote on the proposed acquisition of all Asaleo Care shares by Essity Holding Company..

The announcement states that the board, the CEO and managing director unanimously recommended that Asaleo Care shareholders vote in favour of the scheme.

Asaleo Care shareholders will be given $1.40 for each share they hold on the scheme record date (22 June 2021 at 5pm); and on 21 June 2021.  Shareholders will also receive the fully franked special dividend of $0.02 per share for each share they hold on the special dividend record date (15 June 2021 at 5pm).

Asaleo in this case has used the scheme procedure to effect the same outcome as a takeover bid by transferring shares to Essity Holdings. 

The Asaleo Care share price is trading 0.35% lower today at $1.415.

The post Trading in Asaleo Care (ASX:AHY) shares will cease today. Here's why appeared first on The Motley Fool Australia.

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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 Bruce Jackson.

Shares in Plenti Group Limited (ASX: PLT) have had a great run lately, up 13% in the last 8 days. The Plenti Group share price was trading up 3.8% at $1.21 at yesterday's close.

Melbourne broker Shaw and Partners is bullish on the technology stock. We examine why below.

But first, a quick look at the company

Plenti is a technology-led consumer lending and investment company that has three revenue streams.

Firstly, it provides automotive lending for the hire or purchase of new vehicles. Secondly, it provides renewable energy lending for the purchase and installation of renewable energy products such as solar panels and batteries.

And finally, it also focuses on personal lending, providing fixed-term, unsecured, interest-bearing loans used for a wide variety of purposes.

Broker expects big things

Shaw and Partners is bullish on the Plenti Group share price, yesterday issuing a buy recommendation and a price target of $1.74.

"Plenti presents a compelling opportunity to invest in a fintech lender with a premium quality loan book," the broker said in its report to investors yesterday.

Shaw and Partners also pointed to favourable net interest margins (NIM) and high return on equity (ROE) metrics.  A NIM is the difference between the interest income earned and the interest paid by the financial institution.

Further, the broker points to Plenti Group's diversified loan book approaching $1.0bn. The business posted record quarterly loan originations in each lending vertical, across automotive, renewable energy and personal loans. Its total loan portfolio increased to $615 million, 61% above the prior corresponding period.

Despite the positive reports, Shaw and Partners did warn of risk in the report.

Specifically, it sees Plenti's Venus Platform as technologically superior to other offerings in the fintech market. However, as technology evolves, this may not always be the case. "These changes may lead to a requirement for Plenti to redevelop its lending platform in order to remain competitive," the broker said.

With the Plenti Group share price currently at $1.21 and a price target at $1.74, the broker is tipping plenty of room for more growth in the company.

The post Broker tips Plenti Group (ASX:PLT) share price to shoot higher appeared first on The Motley Fool Australia.

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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 Bruce Jackson.

GrainCorp Limited (ASX: GNC) is one ASX-listed agriculture share that has been in the firing line of China's 80% import tariff on Australian barley.

As Motley Fool has previously reported, the tariffs were imposed after China claimed that Australia used the illegal practice of dumping. A claim vigorously denied by Australia.

Despite the loss of a major part of its market, the GrainCorp share price has enjoyed a bit of a renaissance of late, rising 19% in the last 3 months. We explore the possible reasons. 

GrainCorp succeeds in finding markets outside China 

In May, GrainCorp reported revenue of $2,63.5 million for the  half-year ending 31 March, delivering a 30.8% increase on the prior corresponding period. Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) from continuing operations grew to $140 million. 

For several years, GrainCorp has made it a priority to focus on other markets, not just as a response to the barley tariffs but because it equated to good business.

In an interview with the Australian Financial Review, GrainCorp managing director Robert Spurway said: 

What we have seen is that Australian grain remains competitively priced in most destination markets and that has created opportunities and, as a result of the tariffs, as you always do with tariffs when they are applied, a bit of disruption and dislocation to global trade but the underlying demand remains there.

Crop forecast to hit peak in June

A report out of Bell and Porter last month pointed to the June Australian Bureau of Agricultural and Resource Economics crop report. It highlighted an east coast winter crop forecast of 22.1 megatonnes (mt), the highest June forecast ever and above last year's previous high of 21.5mt. 

Further, Bell and Porter added that the "current soil moisture profiles, the three-month rainfall outlook and grain futures pricing, all look supportive of another above-average crop size and trading margin outcome for GNC". 

Despite the positive forecast, Bell and Porter downgraded the GrainCorp share price from buy to hold, Analysts cited the main reason for the downgrade being the high likelihood that a seasonal peak in earnings was close to being reached.

Meanwhile, GrainCorp's earnings guidance upgrade reflected strong margins due to high global demand for Australian grain and oilseeds. The turnaround demonstrates that exporters can succeed in finding markets outside China.

The GrainCorp share price is trading at $5.19 up 0.48%, at the time of writing.

The post Why GrainCorp (ASX:GNC) has surged 19% in the last 3 months appeared first on The Motley Fool Australia.

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Motley Fool contributor Frank Tzimas has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Ramsay Health Care Limited (ASX: RHC) share price has been on a rollercoaster ride recently.

Shares in the health care company reached a high of $69.49 in November only to fall as low as $58.71 in January. At the time of writing, the Ramsay Health share is trading at $63.66, up 2.22%.

Despite the volatility, it appears that brokers are positive about the future of the company. We take a look at some of the reasons why. 

A major acquisition

Ramsay Health Care announced last month that it was putting a cash offer to acquire the UK-based Spire Group. Spire is an independent hospital group focused on the private patient market and a leading provider of high-acuity care.

The UK acquisition appears to be a logical step for Australia's largest private hospital provider.

As described in its company literature, Ramsay "provides quality health care through a global network of clinical practice, teaching and research". The company says its global network extends across 10 countries, with more than eight million admissions/patient visits to its facilities in more than 460 locations.

Which brokers are positive on the company?

Citi Bank yesterday upgraded Ramsay Health Care to a buy.  The broker attributed to rating upgrade to the recent fall in the Ramsay share price and the fact that company has underperformed the ASX 200 by 14% in the last quarter. 

Citi expects an big upside with the Spire acquisition, COVID-19 restrictions being lifted and hospitals getting back to normal.

Analysts at Macquarie are also positive about the healthcare company.  Macquarie has retained its outperform rating and $74.85 price target on Ramsay Health Care.

Macquarie believes that the Spire deal stems well for the Ramsay share price and long term growth in the lucrative UK market.

With the Ramsay share price currently trading around $63, Macquarie's price target is a whopping 20% upgrade on the current price.

.

The post Why brokers give the Ramsay Health (ASX:RHC) share price a thumbs up appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia has recommended Ramsay Health Care Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

FYI Resources (ASX: FYI) share price is performing swimmingly. In 12 months, the company's shares are up 1,300%. In the last 6 months, they're more than 200% higher. And at the market close yesterday, the FYI Resources price was up 9.52% for the day, closing at 69 cents.

Decarbonising the global economy, it's a thing.

According to its own company literature, FYI is positioning itself for high quality, high purity alumina (HPA) through low carbon and environmental footprint production.

FYI Resources says that there are two ways to apply HPA. There is the application in LED screens and other sapphire glass products, substrates, electronics and specialty abrasives. 

The second market — and longer-term driver for HPA — is the application in lithium-ion batteries for the burgeoning electric vehicle and static energy storage markets. HPA in these markets allows better functionality and safety of the battery cells, according to the company.

Decarbonising the global economy is a priority for governments in the United States and Europe, so it is little wonder that FYI Resources has caught the attention of Australian investors.  

Agreement with Alcoa 

Alcoa is a leading global aluminium producer. On 8 September 2020, FYI Resources entered into a Memorandum of Understanding (MoU) with Alcoa to explore the possible joint development of FYI's HPA project. 

In a company release last month, FYI Resources managing director Rolland Hill said:

We believe there is a highly complementary fit between the corporate objectives, cultures and operational expertise of FYI and Alcoa.

Any commercial agreement would also seek to leverage the corporate capabilities of Alcoa, who are globally recognised as a leading producer of alumina, and FYI who have developed and demonstrated an innovative, fully integrated and environmentally conscious HPA refining process.

The future looks bright

With governments pushing to decarbonise the economy, a possible joint venture with Alcoa, and HPA becoming increasingly sought-after for its unique properties, FYI Resources seems well-positioned in the market.

And judging by the upward trend of the past 12 months, the FYI Resources share price appears to be gaining momentum.

The post Why FYI Resources (ASX:FYI) share price is roaring higher appeared first on The Motley Fool Australia.

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Motley Fool contributor Frank Tzimas owns shares in FYI Resources Ltd.. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Analysts have downgraded the Fortescue Metals Group Limited (ASX: FMG) share price in response to ongoing issues with the miner's troubled Iron Bridge project.

The magnitite project in Western Australia has raised questions in the past due to potentially higher than expected capex expenditure. Pushback on the project deadlines and increasing costs are also some of the catalysts noted.

What do the brokers say?

Goldman Sachs is one of the brokers that has changed its investment rating on Fortescue Metals. 

In its report last Friday, Goldman said it expected a strong June quarter and a record final dividend in August, but rated the company a sell based on its valuation.

According to the report, Fortescue's net asset value (NAV) is trading at 1.6 times while rival iron ore miners BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) trade at just a 1 time multiple.  NAV is the value of an entity's assets minus the value of its liabilities. 

Grade depletion and ramp-up risks from Fortescue's troubled Iron Bridge project and its mines were also factors, the broker said.

In addition, Goldman expressed some doubt about the company's new green energy arm, Fortescue Future Industries (FFI).

FMG is targeting a 10% allocation of net profit after tax (NPAT) to Fortescue Future Industries (FFI) renewable energy projects (green hydrogen, solar, wind, etc) but only when a project is investment-ready.

Melbourne broker Shaw and Partners also expressed some doubts over Fortescue. In its newsletter to investors, it rated the miner a hold, also citing Fortescue's 12-week review of the Iron Bridge project as the main reason.

The company reminded investors that Fortescue was a success story and had produced more than a decade "of best in class track record at delivering large/complex mining projects on time and budget". But the report noted "it wasn't just cost and capex that got in the way, but 'culture issues' reared as an issue in early 2021".

Addressing the latter is critical to FMG's overall way forward.

As reported by Motley Fool, analysts at Morgan Stanley have retained their underweight $17.45 price target. The blowout from the Iron Bridge project and the fear of grade downgrades were again the main reasons stated. 

At the time of writing, the Fortescue share price is trading at $23.42, up 0.6%

The post Brokers have downgraded the Fortescue (ASX:FMG) share price. Here's why appeared first on The Motley Fool Australia.

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Motley Fool contributor Frank Tzimas 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 Bruce Jackson.

Polynovo Ltd (ASX: PNV) had a tough May. Shares in the medical company were trading around $3.05 at the start of the month only to drop almost 15% to $2.60. 

The Polynovo share price is trading at $2.59 at the time of writing.

The jewel in the Polynovo crown is its NovoSorb product, a "novel range of bio-resorbable polymers whose unique properties provide skin regeneration for burn victims", according to the company.

Once the 'belle of the ball'

Polynovo growth numbers over the last two years have been impressive. The PolyNovo share price was one of the best performers on the ASX in 2019, up more than 190% for the year.

Then in 2020, the share price almost doubled in price with a 97% gain. It was a stock market favourite returning more than 825% over 5 years.

Then came COVID

Polynovo is a global business and relies on its ability to work with hospitals. As its half-yearly report indicates, the company currently operates in the United States, Australia, New Zealand, Europe, UK/Ireland, South Africa, Malaysia, Singapore, India, Israel and Saudi Arabia. For growth, the company relies on approaching surgeons with its medical applications. So business has taken a hit from the COVID-19 pandemic.

The Polynovo report advised that revenues had been affected by reduced access and elective surgery in all regions. Despite the bad news, the business reported that its Novosorb BMT sales had increased 31.2% to $11.25 million and its net loss swelled to $3.54 million in the six months ending 31 December. This from $2.42 million in the year-earlier period. 

The results appear to have disappointed the market and the shares have not really recovered since. The Polynovo share price traded flat at $2.42, following the result. Five months later, the share price is still struggling at $2.56.  

The winds are changing

The sentiment coming from management is positive. In a February interview with the Australian Financial Review (AFR) Polynovo managing director Paul Brennan said surgery rates had bounced back in some US states. Mr Brennan was confident that:

… thanks to the vaccine rollout progressing well in the UK and falling infection rates, surgery rates would begin to increase and it should see a corresponding sales increase.

What bear?… David has been buying 

Nothing 'talks the talk' of positive sentiment than when company insiders are buying shares. Especially if that insider is the chair of the company. Polynovo chair David Williams bought 100,000 shares on 10 March at $2.34 per share via on-market trade. 

According to the AFR, Williams raised his stake from 16.6 million ordinary shares to 18 million over six weeks after the half-year results in February. He bought shares at prices ranging from $2.47 to $1.40. 

The end of year financial report will provide insight into the Polynovo share price moving forward. Less frequent lockdowns and an accelerating vaccination process around the world is likely to be positive for a global company such as Polynovo.

Polynovo shares have fallen almost 34% year-to-date and 5% over the past 12 months. Shares in the medical equipment industry have lifted 12% over the corresponding 12-month period. 

The post Why did the Polynovo (ASX:PNV) share price drop 15% in May? appeared first on The Motley Fool Australia.

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Motley Fool contributor Frank Tzimas owns shares in Polynovo Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended POLYNOVO FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.