Why Bega Cheese, Magnis, Mesoblast, and Neometals shares are pushing higher

a business person in a suit and tie directs a pointed finger upwards with a graphic of a rising bar graph and an arrow heading upwards in line with the person's finger.

In late morning trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the year in a disappointing fashion. At time of writing, the benchmark index is down 0.4% to 7,483.5 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are pushing higher:

Bega Cheese Ltd (ASX: BGA)

The Bega Cheese share price has continued its rise and is up a further 3% to $5.65. Investors have been buying this diversified food company’s shares this week after Andrew Forrest’s Tattarang AgriFood Investments business became a substantial shareholder. Tattarang’s substantial shareholder notice revealed that it was buying shares between 10 November and 29 December, building up a 6.61% stake.

Magnis Energy Technologies Ltd (ASX: MNS)

The Magnis share price has jumped 10% to 57 cents. This morning the battery technology company announced very promising results from its Extra Fast Charging (EFC) battery program. These results demonstrate potentially significant improvements on the current batteries being used by electric vehicles.

Mesoblast limited (ASX: MSB)

The Mesoblast share price is up 4.5% to $1.42. This morning the biotech revealed that it has met with the US Food and Drug Administration’s (FDA) Office of Tissues and Advanced Therapies (OTAT). This was to address potency assay and chemistry, manufacturing and controls (CMC) items identified in the complete response letter for remestemcel-L in the treatment of steroid-refractory acute graft versus host disease in children. The OTAT indicated that Mesoblast’s approach to address the outstanding CMC items is reasonable.

Neometals Ltd (ASX: NMT)

The Neometals share price has surged 13% higher to $1.36. This morning Neometals revealed that its Primobius joint venture has executed binding option and licensing agreements with Stelco. It is a Toronto Stock Exchange listed steelmaking company. The agreement will see Stelco aim to commercialise Primobius’ electric vehicle battery recycling technology into North America, the fastest growing lithium battery production region.

The post Why Bega Cheese, Magnis, Mesoblast, and Neometals shares are pushing higher appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

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. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3qzuvPz

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s