Tyro (ASX:TYR) share price edges higher as CEO calls for open borders

Australia’s retail and hospitality sectors are struggling under COVID-19 lockdowns.
The post Tyro (ASX:TYR) share price edges higher as CEO calls for open borders appeared first on The Motley Fool Australia. –

The Tyro Payments Ltd (ASX: TYR) share price is back in the green, up 0.67% to $3.77 at the time of writing, after earlier posting losses of 1.0%.

Last week, on 26 August, the ASX payments company reported record results for the full 2021 financial year.

Today, in a statement unlikely to have an immediate material impact on Tyro’s share price, the company’s CEO, Robbie Cooke, called for Australia’s state borders to reopen once the nation hits a 70% vaccination level.

What did Tyro’s CEO recommend?

Noting that most of Tyro’s customers are involved in the retail and hospitality sectors, Cooke called on the government to offer a clear reopening plan following a new wave of COVID-19 lockdowns.

As reported by The Sydney Morning Herald, Cooke said it wasn’t a “sensible nor sustainable proposition to have the state borders locked down“.

Cooke was quoted as saying:

Once all jurisdictions get to 70%, governments across the country need to act in a coordinated way. It is exceptionally damaging for businesses if Queensland is locked down and the rest opens up, it does not make sense. It’s going to be damaging for Queensland businesses.

Different states have been spruiking different reopening plans. And a lack of clarity remains about the future of vaccine passports and whether vaccines can be made mandatory.

With those issues in mind, Cooke said, “The [federal] government has to give businesses certainty around what they need to do and how they need to open themselves back up.”

Tyro share price snapshot

The Tyro share price is up 12% year-to-date, just edging out the 11.6% gains posted by the S&P/ASX 200 Index (ASX: XJO).

Over the past month, Tyro’s share price has gained 7.4%, while the ASX 200 has slipped 0.4% into the red.

The post Tyro (ASX:TYR) share price edges higher as CEO calls for open borders appeared first on The Motley Fool Australia.

Should you invest $1,000 in Tyro Payments right now?

Before you consider Tyro Payments, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Tyro Payments wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Tyro (ASX:TYR) share price lifting off on record FY21 results
Potential buys: 2 compelling ASX payment shares

These 2 hot ASX shares take up 20% of our fund: manager

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Tyro Payments. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!