Pack your bags its almost time to go camping with Camplify!
- The ASX200 closed 1.9% lower at 7369.50 on Thursday.
- Camplify shares soared 16% on NSW ‘Roadmap to Freedom’ details.
- Endeavour Group tumbled despite releasing strong FY21 results.
The Australian market tumbled on Thursday to close the session almost 2% lower at 7369.50 as the tech sector plummeted more than 3%, followed by a sell off in mining stocks.
Tech stocks were dragged lower by EML Payments tumbling more than 5.5%, Megaport shedding 5.4% and Nearmap closing the session 4.5% lower.
Bitcoin is trading higher this afternoon, up 1.69% over the last 24-hours at US$46,192.31 at 4:45pm AEST.
Australian-based caravan and camping online sharing platform Camplify jumped 16% on Thursday following the NSW government outlining its ‘Roadmap to Freedom’. The roadmap out of lockdown means domestic trips to regional locations can happen once the state passes its 70% double vaccination target.
Making headlines, Woolworths-demerger Endeavour Group took a hit today despite reporting impressive FY21 results. For the year, Endeavour Group reported revenue growth of 9.3% YoY to $11.6bn, a profit after tax of $445m and a 7 cent final dividend. Investors may be selling off Endeavour shares today as the company has $1.7bn in borrowings from Woolworths and a net debt of $1.3bn.
And Chinese driverless cars firm WeRide has partnered with Jiangling Motors and delivery firm ZTO Express to launch an autonomous self-driving cargo van for deliveries in China, with expectations for tens of thousands of the Robovan’s to be deployed in future.
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