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The ASX200 climbs; Pushpay tanks on guidance downgrade; Green Technology Metals soars 69% on ASX debut.

  • The ASX200 is trading 0.14% higher at 7444.50 after lunchtime.
  • Pushpay is tanking 13% after downgrading guidance for FY22.
  • Green Technology soars 69% on ASX debut following IPO raising $24m.

The Australian market is seesawing again today, trading 0.14% higher at 7444.50 after lunchtime as energy, resources and metals and mining stocks lead losses on the ASX today.

The tech sector has overturned yesterday’s rally to trade lower during the midweek session so far as Nearmap tanks 4.8% while Afterpay trades down 2.6%.

Bitcoin is trading 1.01% lower over the last 24-hours at US$67,105.08 at 1:30pm AEDT.

Cloud-based online payment solution provider Pushpay is tanking 13% today after releasing half year results and downgrading its guidance. For the first half, Pushpay reported total processing volume increased 9% to US$3.5bn, net profit after tax rose 43% to US$19.1m, and total customers grew 29% to 14,095. Investors are selling out of Pushpay shares though as the company downgraded its EBITDAFI for FY22 from US$66m-US$71m, to now be around US$62m-US$67m.

Making headlines, lithium-focused resource explorer Green Technology Metals is soaring on its ASX debut today. Following an IPO of $0.25/share raising $24m giving Green Technology Metals a market cap of $49.38m at listing, the company’s shares are surging 69% today so far to trade above $0.42/share almost doubling the market cap of Green Technology.

And Walmart grocery orders may now be delivered by a self-driving truck after the company launched two autonomous box-trucks provided by Gatik, an autonomous vehicle startup.

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