Rise and Shine: What you need to know before the ASX opens
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But first … the day ahead.
Scheduled to list at 11am AEST is NobleOak Life (ASX:NOL), a 144-year-old life insurance firm that has its roots in the ancient Celtic tradition of the druids. A first time for everything when you invest on the ASX.
Also this morning a new copper-gold miner in Queensland will emerge through the shell of former marketing and IR firm R3D Global when R3D Resources (ASX:R3D) relists after a $4.25 million recapitalisation.
TRADING HALTS
The following companies are in trading halts and are expected out in the next two trading days:
The
Service Stream Limited (ASX: SSM) share price isn’t going anywhere today. This comes after the essential network services provider entered into a trading halt early this morning on the ASX.
Looking at yesterday’s market close, Service Stream shares last traded at 96 cents.
Why did Service Stream put a halt on its shares?
In today’s statement, Service Stream advised it is launching a capital raise to acquire 100% of Lendlease Services Pty Ltd.
A subsidiary of parent company,
Lendlease Group (ASX: LLC), the Services business is a leading provider of essential network services across telecommunications, utilities and transportation sectors. This includes wireless and fixed-line network infrastructure, maintenance of electricity, water, and industrial assets, as well as roads and tunnels.
Service Stream (ASX:SSM) share price sinks to new 52-week low
Service Stream (ASX:SSM) share price sinks to new 52-week low
The Service Stream Limited (ASX: SSM) share price was smashed again on Tuesday as ASX 200 shares pulled back from recent highs.
Ken is a big believer in the power of dividends in building a strong financial future. He has a keen interest in economics and the power of markets in driving change in the world.
In his spare time he loves to meet new people, watch sports and help others build their best financial future!
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Why the Hub24 (ASX:HUB) share price is firing up 12% today
Sebastian Bowen | March 15, 2021 3:10pm |
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The
Hub24 Ltd(ASX: HUB) share price is on fire today, rising 12.32% to $24.25 a share at the time of writing.
Hub24 shares had closed last week at $21.62 a share but opened this morning at $22.80. They went as high as $24.85 soon after the open.
However, today’s strong move papers over what has been a rough and volatile month for this company. Backtrack exactly one month, and Hub24 was sitting at a new all-time high of $27.80.
However, the rout in ASX tech shares that we’ve seen over the past four weeks has not been kind to this company. By 5 March, the Hub24 share price was down to $19.48 a share, a near-30% drop from those previous highs.
Image source: Getty Images
At the start of each week I like to look at ASIC’s short position report to find out which shares are being targeted by short sellers.
This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.
With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:
Webjet Limited (ASX: WEB) remains the most shorted share on the ASX but only just. This week the online travel agent’s short interest has fallen by 200 basis points to 12.5%. Some short sellers may have been locking in returns after a recent and sharp pullback in the Webjet share price.