In late morning trade the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is pushing higher again. The benchmark index is currently up 0.6% to 6,782.2 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:
Afterpay Ltd (ASX: APT)
The Afterpay share price is up 6% to $141.80 despite there being no new out of the payments company. However, investors have been buying tech shares on Wednesday following a strong night of trade on the tech-focused Nasdaq index. So much so, the S&P/ASX All Technology Index (ASX: XTX) is up 1.8% at the time of writing.
Ansell Limited (ASX: ANN)
The Ansell share price is up over 3% to $36.56. Investors have been buying the safety products company’s shares following the release of a trading update. According to the release, demand for its products has been strong because of COVID-19. As a result, it is expecting its first half earnings per share to grow between 62% to 68% on the prior corresponding period.
Mydeal.ComAu Pty Ltd (ASX: MYD)
The MyDeal share price has risen over 2% to $1.39 following the release of its second quarter and half year update. The ecommerce company revealed that it had a strong finish to the year, with second quarter gross sales increasing 165% on the prior corresponding period to $70.1 million. This led to MyDeal’s first half gross sales increasing 217% over the same period last year to $126.7 million. Strong customer growth and repeat use drove the solid performance.
PolyNovo Ltd (ASX: PNV)
The PolyNovo share price has jumped 6% to $2.63. Investors have been buying the medical device company’s shares after it announced its expansion into Poland and Turkey. The company has appointed Hortho Medical Innovations as its exclusive distributor in Poland and Saglik Hiz and its medical sales channel LotuS as its distributor in Turkey. Both distributors have a lot of experience with similar technologies.
This Tiny ASX Stock Could Be the Next Afterpay
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Returns as of 6th October 2020
More reading
- Here’s why the MyDeal (ASX:MYD) share price surged 7% higher today
- Why the Ansell (ASX:ANN) share price stormed 5% higher today
- Why the PolyNovo (ASX:PNV) share price is zooming 7% higher today
- One bullish growth signal for the Afterpay (ASX:APT) share price in 2021
- Broker lists the best ASX stocks to own for an up to 30% gain in 2021
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of POLYNOVO FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Ansell Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post Why Afterpay, Ansell, MyDeal, & PolyNovo shares are storming higher today appeared first on The Motley Fool Australia.
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