Stocks of the Hour: Adore Beauty, Redbubble & South32

Company News

by Melissa Darmawan

The shift to online shopping helped boost Adore Beauty's (ASX:ABY) results for the September quarter.  The company saw a 25 per cent surge in revenue to $63.8 million compared to the prior corresponding period. Adore attributed the growth to the return of customers and new beauty users. Shares closed 1.4 per cent higher at $5.00.

Online marketplace Redbubble's (ASX:RBL) fall in revenue was attributed to a reduced demand for face masks. The company's revenue sank 28 per cent to $106 million, while its EBITDA tumbled 85 per cent compared to the previous corresponding quarter. Shares closed 12.5 per cent lower at $3.99.

South32 (ASX:S32) has put down a US$1.6 billion payment (around $2.1 billion Aussie dollars) to acquire a 45 per cent stake in Chilean copper mine Sierra Gorda. Other than producing copper, the mine can also produce gold, and silver. South32 will join forces with a global miner based in Poland that owns the other half. Shares closed 5.0 per cent higher at $3.83.

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