Why Brainchip, Chalice, Life360, and PointsBet shares are surging higher

a graphic image of three upward pointing arrows with smoke coming from their bottoms, indicating the arrows are taking off.

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has fought back from an earlier decline and is edging higher. At the time of writing, the benchmark index is up 0.1% to 7,460.1 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are surging higher:

Brainchip Holdings Ltd (ASX: BRN)

The BrainChip share price is up 5% to 49.5 cents. This morning the artificial intelligence technology company confirmed that functionality and performance testing of the AKD1000 production chips has been completed. Positively, that testing showed better performance than the original engineering samples.

Chalice Mining Ltd (ASX: CHN)

The Chalice Mining share price has rocketed 28% higher to $8.65. Investors have been buying this mineral explorer’s shares after it released the maiden mineral resource estimate for the Gonneville deposit at the Julimar Project in Western Australia. Those results revealed the largest nickel sulphide discovery in over 20 years and the largest platinum-group elements (PGE) discovery in Australian history.

Life360 Inc (ASX: 360)

The Life360 share price is up almost 7% to $12.40. The catalyst for this gain has been the release of a broker note out of Morgan Stanley this morning. According to the note, the broker has retained its overweight rating and lifted its price target on the family safety app maker’s shares from $10.50 to $14.20. Morgan Stanley sees several potential positive catalysts for the company in the near future.

PointsBet Holdings Ltd (ASX: PBH)

The PointsBet share price has jumped 8% to $8.95. Investors have been buying this sports betting company’s shares following the release of an update on its New York aspirations. According to the release, the New York State Gaming Commission (NYSGC) has recommended PointsBet for a licence to operate mobile sports wagering in New York. PointsBet was one of nine companies to be awarded a Platform Provider licence.

The post Why Brainchip, Chalice, Life360, and PointsBet shares are surging higher appeared first on The Motley Fool Australia.

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Motley Fool contributor 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 and has recommended Life360, Inc. and Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. 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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