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ASX200 slides; NOVONIX soars on Wall St listing plans; Woolworths dips on supply shortages.

  • The ASX200 is trading 0.18% lower at 7439.60 points after lunchtime.
  • NOVONIX soars 10% after announcing plans to list on the Nasdaq.
  • Woolworths dips amid supply shortages due to COVID-19 infection growth.

The Australian market is trading 0.18% lower at 7439.60 after lunchtime as a sell-off in consumer discretionary stocks weighs down the key index.

The tech sector is also trading lower today, taking lead from the Nasdaq’s turbulent session on Wall St on Friday. Despite NOVONIX soaring 11% today so far, the tech sector is weighed down by Xero shedding 3%, Wisetech Global down 2.77% and Altium trading 2.56% lower.

Bitcoin is trading 0.33% higher over the last 24-hours at US$41,980.96 at 1:30pm AEDT.

Battery materials and technology company NOVONIX is soaring just under 10% today so far after announcing the commencement of the process to list on the Nasdaq. The dual-listing for NOVONOX is expected to take place after the SEC and Nasdaq have completed their review process and upon effectiveness of the registration statement.

Making headlines, Woolworths shares are taking a hit today as the retail and supermarket giant released a statement regarding current delays being experienced with stock deliveries to stores due to the COVID-19 crisis forcing some close-contact or infected staff to stay at home. With a large number of Woolworths stores facing bare shelves due to the stock issues, the supermarket giant said the supply shortages and disruptions are expected to last two to three weeks.

And an egg-peeling challenge has gone viral on TikTok where users spend hours using surgical tools to carefully detach the raw egg in its membrane from the egg shell.

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