In late morning trade the S&P/ASX 200 Index (ASX: XJO) has returned from the public holiday in a disappointing fashion. At the time of writing, the benchmark index is down 0.7% to 6,777.9 points.
Four ASX shares that have not let that hold them back are listed below. Here’s why they are charging higher:
Booktopia Group Ltd (ASX: BKG)
The Booktopia share price has jumped over 11% to $2.95 following the release of its half year update. The online book retailer revealed that it had both a record month in December and a record half. Booktopia shipped a record 728,000 units during the final month of the year, bringing its total shipments to 4.2 million units for the half. This was a 40% increase on the same period last year. This led to a 52% increase in unaudited half year revenue to $113 million and a 506% increase in adjusted EBITDA to $8 million.
Nitro Software Ltd (ASX: NTO)
The Nitro share price has stormed 5.5% higher to $3.23. Investors have been buying the document productivity software company’s shares following the release of a strong fourth quarter update. At the end of the quarter, Nitro’s annualised recurring revenue (ARR) stood at US$27.7 million. This was up 64% on the prior corresponding period and ahead of its previously upgraded guidance of US$26 million to US$27 million.
Reliance Worldwide Corporation Ltd (ASX: RWC)
The Reliance share price has surged 8% higher to $4.43. The catalyst for this was the release of a half year update by the plumbing parts company. According to the release, Reliance has achieved net sales of $642 million for the six months, which is up 13% on the prior corresponding period. EBITDA is expected to be in the range of $164 million to $167 million, up at least 30% versus the same period last year.
Vulcan Energy Resources Ltd (ASX: VUL)
The Vulcan share price has jumped 13% to $8.22. Investors have been buying the clean lithium developer’s shares after it refuted media speculation that it was planning to raise capital. Vulcan advised that it is undertaking a non-deal roadshow and has no immediate plans to launch a capital raising.
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Returns as of 6th October 2020
More reading
- Why the Vulcan (ASX:VUL) share price is storming 12% higher today
- Why the Booktopia (ASX:BKG) share price is rocketing 15% to a record high
- Here’s why the Nitro Software (ASX:NTO) share price is surging 7% higher today
- 5 lithium shares that are fast-charging up in 2021
- 3 exciting small cap ASX shares to watch very closely
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 Reliance Worldwide Limited. The Motley Fool Australia has recommended Nitro Software Limited and Reliance Worldwide Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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