In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. At the time of writing, the benchmark index is down 0.5% to 7,406.9 points.
Four ASX shares that are not letting that hold them back are listed below. Here’s why they are pushing higher:
BrainChip Holdings Ltd (ASX: BRN)
The BrainChip share price is up 7% to $1.10. This morning the artificial intelligence technology company responded to a speeding ticket from the ASX. BrainChip suggested that its incredible rise in 2022 may have been driven by recent media coverage. This includes the reports that the company’s Akida chip has been used in a Mercedes concept car.
PointsBet Holdings Ltd (ASX: PBH)
The PointsBet share price is up 5% to $6.51. Investors have been buying the sports betting company’s shares after it announced a deal with the NHL Alumni Association (NHLAA). PointsBet Canada has become the exclusive sports betting partner of the NHLAA in Canada and also an official partner of the association in the United States.
PolyNovo Ltd (ASX: PNV)
The PolyNovo share price has rocketed 25% higher to $1.79. This follows the release of a first half sales update from the medical device company. According to the release, following a strong second quarter, PolyNovo expects to report first half group sales growth of 45% to A$16.28 million (excluding Barda revenue). A strong performance in the US underpinned this growth.
Syrah Resources Ltd (ASX: SYR)
The Syrah share price has jumped 11% to $2.06. This is despite there being no news out of the graphite producer. However, investors have been buying the company’s shares in recent weeks after it announced a deal with electric car giant Tesla. The Syrah share price hit a multi-year high just after lunch.
The post Why BrainChip, PointsBet, PolyNovo, and Syrah 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
- ASX 200 (ASX:XJO) midday update: PolyNovo rockets, Inghams sinks
- Why is the PointsBet (ASX:PBH) share price winning today?
- Why have BrainChip (ASX:BRN) shares become such hot property?
- Here’s why the PolyNovo (ASX:PNV) share price is jumping 13% today
- These are the 10 most shorted ASX shares
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 and has recommended POLYNOVO FPO 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.
from The Motley Fool Australia https://ift.tt/3tdN9Q1
Leave a Reply