2 ASX shares exploding over 17% on strong updates

It’s been a bit of a lacklustre start to the trading week for ASX shares so far this Monday. At the time of writing, the ASX All Ordinaries Index (ASX: XAO) has dropped into the red, currently down by 0.12% at 7,700 points after what was an initially positive morning for the share market.

But just because the share market is having a down day doesn’t mean all ASX shares are following suit. In fact, there are two ASX shares that have shot up more than 17% today after some strong updates.

2 ASX shares rocketing 17% or more today

EVZ Ltd (ASX: EVZ)

ASX engineering services share EVZ is our first company that has seen a galloping share price this Monday. EVZ shares are currently up a whopping 17.65% to 20 cents per share after closing at 17 cents last Friday.

This comes after the company posted a well-received quarterly activities report this morning.

For the three months to 31 December 2022, EVZ announced cash receipts worth $32 million. That was a massive 216% increase over the previous corresponding period. The company also forecast that “additional new contract wins position the group for further growth during FY2023 and beyond”.

No wonder investors have been so excited today. EVZ shares are now up 15% over the past 12 months.

Camplify Holdings Ltd (ASX: CHL)

Another ASX All Ords share booming today is Camplify. Shares in Camplify are up an extraordinary 22.86% right now to $2.20 a share after the company closed at $1.75 a share on Friday.

This digital vehicle matching services provider has also just posted a quarterly update covering the three months to 31 December 2022. Camplify has declared a gross transaction volumes figure of $24.7 million for the quarter, a rise of almost 110% over the previous corresponding quarter.

Revenue came in at $6.6 million, which was 63.8% above the same quarter last year. The company recorded $31.2 million in future bookings over the quarter, a 270% increase on last year’s numbers. Further, Camplify reported that its New Zealand expansion plans were going swimmingly, with New Zealand gross transactional volumes rising by 1,040%.

Clearly, investors have been impressed with what the company had to say today.

The post 2 ASX shares exploding over 17% on strong updates appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen 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 Camplify. 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.

from The Motley Fool Australia https://www.fool.com.au/2023/01/30/2-asx-shares-exploding-over-17-on-strong-updates/