The ASX 200 (ASX: XJO) is currently down 0.2%, following on from a decline in overseas share markets.
We learned this morning from media reporting that the government is considering altering jobkeeper early for those people that received a payrise due to jobkeeper, as well as altering it for those businesses that have seen a recovery in their turnover.
Kogan.com (ASX: KGN) jumps
The online retailer reported its FY20 fourth quarter to date numbers which includes April 2020 and May 2020.
Kogan.com said that it has grown its active customers to 2.07 million as at 31 May 2020. That’s another 126,000 active customers added in one month. Not bad at all.
The company revealed that gross sales have increased by more than 100% in the FY20 fourth quarter to 31 May 2020. Gross profit has grown by more than 130%. ‘Adjusted EBITDA‘ has grown more than 200%, this measure excludes unrealised foreign currency and share-based compensation.
Growth shares decline
There is widespread selling for growth shares in the ASX 200. The declines aren’t heavy, but most of them are down.
The CSL (ASX: CSL) share price is down 3.4%, the Appen (ASX: APX) share price is down 3.7%, The Pro Medicus (ASX: PME) share price is down 3.3%, the Xero (ASX: XRO) share price is down 2%, the Afterpay (ASX: APT) share price is down 2.5%, the Zip (ASX: Z1P) share price is down 5.2%. And so on, you get the idea.
The shares in green holding up the ASX 200
Obviously there has to be some shares out there keeping the ASX up during the growth selloff.
The Pilbara (ASX: PLS) share price is up 5.2% and the Sydney Airport (ASX: SYD) share price is up 4.6%. The big ASX banks are doing the heavy lifting. For example, the CBA (ASX: CBA) share price is up 1.1% and the Westpac (ASX: WBC) share price is up 1.4%.