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Li-S Energy skyrocketed 210% on its ASX debut!

ASX closed lower; Li-S Energy skyrocketed 210% on debut; Woolworths dipped despite new offering launch

The ASX200 closed 1.47% lower at 7275.60 on Tuesday.

Li-S Energy skyrocketed 210% on its ASX debut after IPO raising $34m.

Woolworths dipped just under 2% despite Everyday Market launch.

The Australian market fell sharply on Tuesday to close 1.47% lower at 7275.60 as the health care sector tumbled more than 3%. Pro Medicus led losses on the ASX200 while Nova Minerals plummeted 17%, taking the biggest hit on the All Ordinaries today.

The tech sector closed the session in negative territory, weighed down by Xero falling 6.18%, Technology One trading 4.71% lower and Megaport finishing the day 4.53% lower.

Bitcoin is trading 4.14% lower over the last 24-hours at US$42,330.76 at 4:30pm AEST.

Australian-based innovative lithium-sulfur battery producer LI-S Energy skyrocketed 210% on its ASX debut today. Following an IPO at $0.85/share raising around $34m, the company’s share price soared as high as $3.05/share before settling to finish the debut session at $2.33/share, a 174% premium on the IPO price. Li-S Energy brings a new, cheaper, safer and more efficient battery technology Lithium-Sulphur to replace the current Lithium-Ion battery in the market.

Making headlines, Woolworths shares dipped today despite the grocery giant launching its Everyday Market offering. The new offering will see everyday household appliances, baby needs, toys and other household items added to Woolworld’s online platform, able to be purchased alongside Woolies’ grocery range.

And Sydney Trains has begun trialling AI face detection software to automatically analyse real-time camera feed footage of passengers at train stations to detect trespassers who don’t pay to use the services in a bid to reduce facilities and prevent delays.

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