It has been a very disappointing day of trade for the S&P/ASX 200 Index (ASX: XJO) on Thursday. In afternoon trade the benchmark index is down 1.95% to 6,649.2 points.
Four ASX shares that have not let that hold them back today are listed below. Here’s why they are storming higher:
Bigtincan Holdings Ltd (ASX: BTH)
The Bigtincan share price has climbed 4% to $1.11 following the release of its second quarter update. Bigtincan continued its strong form during the quarter and delivered annualised recurring revenue (ARR) of $48.4 million. This represents growth of 50% over the prior corresponding period. Management revealed that this comprised organic ARR of $40 million (up 42.9%) and ARR of $8.4 million from recently completed acquisitions.
Bubs Australia Ltd (ASX: BUB)
The Bubs share price is up 7.5% to 65 cents after reporting an improvement in its performance during the second quarter. For the three months ended 31 December, Bubs reported gross revenue to $12.8 million. While this was a 12% reduction on the prior corresponding period, it was up 36% on its first quarter gross revenue. Bubs also revealed improvements in the corporate daigou channel during the quarter.
LiveTiles Ltd (ASX: LVT)
The LiveTiles share price has jumped 5% to 22 cents following the release of its second quarter update. According to the release, as of the end of December, LiveTiles’ ARR had increased 10.2% year on year to $58.1 million. In constant currency, LiveTiles’ ARR would have grown 23% year on year to $64.7 million. This was driven by customer additions and an increase in average ARR per customer.
Treasury Wine Estates Ltd (ASX: TWE)
The Treasury Wine share price is up 5% to $9.74 despite there being no news out of the wine company. However, a sharp pullback in the Australian dollar may have given its shares a boost. A weaker currency could give its wine exports a lift.
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Returns as of 6th October 2020
More reading
- Why the LiveTiles (ASX:LVT) share price is avoiding the market selloff
- Here’s why the Bubs (ASX:BUB) share price is surging 10% higher
- Why the Bigtincan (ASX:BTH) share price is jumping higher today
- Will Joe Biden’s election help an Australia-China reset?
- 4 growing small cap ASX shares to watch
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 LIVETILES FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends BIGTINCAN FPO. The Motley Fool Australia owns shares of and has recommended BIGTINCAN FPO, BUBS AUST FPO, and Treasury Wine Estates Limited. The Motley Fool Australia has recommended LIVETILES FPO. 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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