In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is fighting hard to stay in positive territory. At the time of writing, the benchmark index is up slightly to 6,672.4 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are racing higher:
Cettire Ltd (ASX: CTT)
The Cettire share price is up 2% to 85.2 cents. This follows the release of a first quarter update that revealed that the online luxury fashion retailer has started FY 2023 strongly. Cettire’s gross revenue grew 62% over the prior corresponding period to $84.4 million during the quarter. This was driven by the year over year doubling of its active customers to 287,626 and improvements in repeat customer spending.
Moneyme Ltd (ASX: MME)
The Moneyme share price is up 5.5% to 38.5 cents. Investors have been buying this digital consumer credit company’s shares following the release of a first quarter update. Moneyme revealed a 148% increase in gross revenue to $57 million and a 183% increase in gross customer receivables to $1.28 billion.
Piedmont Lithium Inc (ASX: PLL)
The Piedmont Lithium share price is up over 3.5% to 86.5 cents. This follows a strong night of trade for this lithium developer’s US listed shares on Wall Street. In addition, a number of battery materials shares are outperforming on Tuesday.
Superloop Ltd (ASX: SLC)
The Superloop share price is up 10% to 70 cents. After the market close on Monday, Superloop announced a mutual preferred network partnership agreement with Uniti Group. The broad-reaching partnership covers various retail, wholesale and network elements with Uniti to be offered through Superloop’s branded Consumer, Business and Wholesale segments. The agreement is expected to be immediately accretive to Superloop’s EBITDA in FY 2023.
The post Why Cettire, Moneyme, Piedmont Lithium, and Superloop shares are racing higher appeared first on The Motley Fool Australia.
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More reading
- Why is the Piedmont Lithium share price having such a stellar run on Tuesday?
- Guess which ASX ecommerce share is rocketing 17% higher today
- Why is the Sayona Mining share price rocketing 13% on Tuesday?
- These were the 5 worst-performing ASX All Ords shares in September
- Why Block, Nick Scali, Piedmont Lithium, and Premier Investments are sinking today
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 positions in and has recommended SUPERLOOP FPO. The Motley Fool Australia has recommended Cettire Limited. 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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