With the benchmark S&P/ASX 200 index just 2.4% off its all-time highs, finding new ASX shares ideas is no easy feat.
However, here are three ASX shares I would be willing to purchase in November.
1. Tyro Payments Ltd (ASX: TYR)
Think of Tyro as a bet on payments – specifically retail, hospitality and health.
The business takes a small percentage of each transaction processed through its terminal. In return, Tyro will facilitate the payment process for merchants.
Chadstone shopping centre owner Vicinity Centres (ASX: VCX) noted today that in the week before restrictions easing sales were at 49% of pre-pandemic levels.
In the next week, sales jumped to 82% in Victoria, while New South Wales recorded 93% of 2019 levels.
Anecdotally, bars and restaurants are booked up. And elective medical appointments are being pushed out to next year.
This all bodes well for Tyro, which has seen a 56% jump in its transaction volume to start November.
2. Audinate Group Ltd (ASX: AD8)
Audinate is the leader in audio networking technology with over 19x the market share of its closest competitor.
The business reduces the need for lengthy and messy analogue cables to transmit sound. Instead, it enables these connections over a computer network to any device.
The Audinate share price initially dropped 12% after the business noted the global chip shortage would impact 43% of its revenue.
Management also noted strong demand amounting to a backlog of $14.8 million. For context, Audinate’s backlog is usually about $2.5 million.
While the chip shortage is a concern, the unprecedented demand is a positive for the business.
If Audinate can alleviate its supply chain issues, the company should continue to see a surge for its products as large-scale concerts and events return.
3. Endeavour Group Ltd (ASX: EDV)
Endeavour Group is an each-way bet on alcohol consumption. Doesn’t matter if it’s at home or at the local pub, Endeavour will benefit.
The company owns the Dan Murphy’s
and BWS liquor chains in addition to over 330 hotels and pub venues.
As half of Australia emerges from lockdowns, venues have seen a notable increase in dining and entertainment (as discussed with Tyro).
Additionally, Endeavour will only benefit from the upcoming Christmas season, with gatherings a key driver of drink purchases.
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