Market Close 24 May 23: Retailers hit by penny conscious youth

Stevie and Laura are here to give you Wednesday’s closing market updates. The market closed in the red today, along with 8 of the 11 sectors. Webjet was a top performer today with their shares hitting a 3 year high following their annual profit announcement. Clothing retailer Universal Store was the worst on the All Ords today, citing that youth are spending less due to cost of living pressures. Finally, Brainchip’s share price fell despite being approved for another US patent.  The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.See omnystudio.com/listener for privacy information.

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