The Australian share market experienced mixed trading today, with the ASX wavering as certain sectors demonstrated strong gains. Life360, a family safety platform, saw its stock price surge by 27 per cent following an analyst upgrade and the announcement of record monthly user growth. Simultaneously, gold miners benefited from the precious metal trading above $US4900 for the first time.
Life360 is a company focused on family safety and connection, offering services like location sharing, safe driving reports, and emergency assistance. Through its app, Life360 aims to bring families peace of mind.
In other corporate news, Guzman y Gomez has secured a new deal with Uber Eats, expanding its delivery capabilities. However, Morningstar has issued a report suggesting that ASX stocks are currently ‘overvalued’, advising investors to exercise caution. Elsewhere, Qantas is cancelling flights at twice the rate of Virgin, yet manages to arrive on time more often, while Virgin Australia’s investment in regional services appears to be yielding positive results, reporting zero cancellations in December.
Political headlines include Prime Minister Albanese’s prediction of further defections from the Nationals to One Nation, following a tumultuous week in parliament. The government is also considering one-off levies to fund a national gun buyback scheme in the wake of the Bondi massacre, given the existing pressures on state budgets.
