Why Brainchip, New Hope, Sayona Mining, and Talga are pushing higher

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end its losing streak. At the time of writing, the benchmark index is up 0.2% to 6,483.9 points.

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

Brainchip Holdings Ltd (ASX: BRN)

The Brainchip share price is up 5.5% to 87.5 cents. Investors have been buying this loss-making semi-conductor company despite there being no news out of it. They may believe that recent weakness in the Brainchip share price has created a buying opportunity. That’s despite its market capitalisation still hovering around $1.5 billion.

New Hope Corporation Limited (ASX: NHC)

The New Hope share price is up 6% to $5.73. This appears to have been driven by bargain hunters swooping in after significant weakness on Monday. The coal miner’s shares were down almost 15% yesterday due to a market selloff amid global recession fears.

Sayona Mining Ltd (ASX: SYA)

The Sayona Mining share price is up almost 7% to 23.5 cents. This morning this lithium developer announced that it has awarded a contract to Fournier & Fils to supervise mining operations at the North American Lithium (NAL) operation in Canada. Work will commence from next month, with the restart of production at NAL targeted within the first quarter of 2023.

Talga Group Ltd (ASX: TLG)

The Talga share price is up 14% to $1.35. Investors have been scrambling to buy this technology minerals company’s shares after it entered into a non-binding offtake term sheet with Automotive Cells Company. It is co-owned by major automotive brands Mercedes-Benz and Stellantis, as well as battery company Saft. The agreement will see Talga supply Automotive Cells Company with 60,000 tonnes of its flagship anode product Talnode-C over a five-year term.

The post Why Brainchip, New Hope, Sayona Mining, and Talga are pushing higher appeared first on The Motley Fool Australia.

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More reading

• Talga share price surges 14% on Mercedes battery anode deal
• Sayona Mining share price leaps 7% on lithium project news
• Why are ASX 200 coal shares smashing it out of the park on Tuesday?
• New Hope share price rebounds 10%: Time to buy?
• ‘Largest exposure’: Why this expert is still bullish on red-hot ASX coal 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. 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 Scott Phillips.

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