3 ASX 300 shares off to the races on Wednesday

The S&P/ASX 300 Index (ASX: XKO) is posting a modest gain on Wednesday, helped along by three shares that call the index home.

They’ve gained as much as 11.7% today amid, ahead of, and exclusive of, exciting announcements.

Meanwhile, the ASX 300 is up 0.27% at 6,794.4 points right now.

Let’s take a look at what’s driving them to outperform the iconic index this afternoon.

These 3 ASX 300 shares are taking off today

Among the top-performing ASX 300 shares today is Costa Group Holdings Ltd (ASX: CGC). The stock is rocketing 11.68% at the time of writing to trade at $2.49.

Its gains come on the back of news its historical parent company, Paine Schwartz Food, which spun Costa out in 2015, has bought a sizable chunk of its shares.

The private equity firm snapped up a 13.78% stake in Costa overnight, paying an average price of around $2.51 per share, as my Fool colleague James reports.

There’s yet to be any clue as to whether the firm might attempt to further increase its stake or make a play for the company.

Another ASX 300 share taking off on Wednesday is Vulcan Energy Resources Ltd (ASX: VUL). Right now, its stock is up 5.24%, trading at $7.23.

Interestingly, there’s been no word from the lithium developer – yet.

The company is expected to release its activities and cashflow report for the September quarter tomorrow. No doubt, all eyes will be on the stock on Thursday morning.

Finally, the Calix Ltd (ASX: CXL) share price is helping to buoy the ASX 300 despite the company’s silence. It’s soared 3.43% to trade at $5.73 at the time of writing.

While there’s been no word from the environmental technology stock today, it did open a $20 million share purchase plan, expected to issue new shares for $4.55 apiece, yesterday.  

It follows a $60 million capital raise the company undertook last week.

The post 3 ASX 300 shares off to the races on Wednesday appeared first on The Motley Fool Australia.

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More reading

• Could the pain ease for this ASX 200 share following a $160m after market raid?
• Why Life360, Novonix, Pilbara Minerals, and Vulcan shares are storming higher today
• 4 ASX lithium shares surging more than 10% today
• Vulcan share price rockets 12% on lithium update
• Top brokers name 3 ASX shares to buy next week

Motley Fool contributor Brooke Cooper has positions in Vulcan Energy Resources Limited. 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 recommended COSTA GRP FPO. 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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