Why A2 Milk, Cettire, Lottery Corp, and Weebit Nano shares are rising

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another gain. At the time of writing, the benchmark index is up 0.3% to 6,956.2 points.

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

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is up 4% to $5.74. Investors have been buying this infant formula company’s shares since the announcement of approval to sell its products in the United States. In addition, this morning the company kicked off its NZ$150 million on-market share buyback.

Cettire Ltd (ASX: CTT)

The Cettire share price is up 7% to $1.98. This appears to have been driven by a broker note out of Bell Potter. According to the note, the broker has recommenced coverage with a buy recommendation and $2.20 price target. Bell Potter believes Cettire “will continue to outperform its peer group consisting of global luxury retailers and local e-commerce players given its <1% market share in a large and growing market which could remain more resilient than other discretionary categories in a likely recessionary environment.”

Lottery Corporation Ltd (ASX: TLC)

The Lottery Corp share price is up over 4% to $4.48. This morning this lottery company released a trading update and revealed that group revenue was up 11% over the prior corresponding period during the first four months of FY 2023. The Keno business has been a particularly positive performer, delivering 33% revenue growth.

Weebit Nano Ltd (ASX: WBT)

The Weebit Nano share price is up 5% to $3.12. This follows the release of an announcement from the semiconductor company this morning. That announcement reveals that the first silicon wafers integrating Weebit’s embedded Resistive Random-Access Memory (ReRAM) module have been delivered. They were shipped from technology realisation partner SkyWater Technology.

The post Why A2 Milk, Cettire, Lottery Corp, and Weebit Nano shares are rising appeared first on The Motley Fool Australia.

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More reading

• Why is the A2 Milk share price surging 5% on Tuesday?
• Weebit Nano share price leaps 5% on ‘huge milestone’
• Broker tips A2 Milk share price to jump 24%
• Why did the A2 Milk share price go backwards in October?
• Brokers name 3 ASX shares to buy 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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended A2 Milk and 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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