In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. At the time of writing, the benchmark index is up 0.4% to 7,285.7 points.
Four ASX shares that are climbing more than most today are listed below. Hereâs why they are charging higher:
Block Inc (ASX: SQ2)
The Block share price is up 3% to $114.37. This follows a solid session for the payments companyâs shares on the NYSE overnight. The company’s US listed shares rose after investors piled back into tech stocks, driving the NASDAQ index 0.75% higher.
Liontown Resources Ltd (ASX: LTR)
The Liontown share price is up 10% to $1.59. This is despite there being no news out of the lithium developer today. However, as we covered here earlier, the team at Bell Potter sees a lot of value in its shares at the current level. So much so, prior to today, it was predicting 100% upside for its shares over the next 12 months.
MMA Offshore Ltd (ASX: MRM)
The MMA share price is up 8% to $1.22. This morning, this marine and subsea services company revealed that it has been awarded three contracts supporting offshore windfarm developments in Taiwan during 2023. The three contracts will increase the companyâs contracted revenue by a total of approximately $30 million and provide for additional potential revenue of approximately $15 million.
Norwest Energy NL (ASX: NWE)
The Norwest Energy share price is up 8% to 6.9 cents. Investors have been buying the energy explorerâs shares after Mineral Resources Ltd (ASX: MIN) made an improved and final takeover offer. It has offered one fully paid ordinary MinRes share for every 1,300 Norwest shares held. This equates to 7 cents per share based on the current Mineral Resources share price.
The post Why Block, Liontown, MMA, and Norwest Energy shares are charging higher today appeared first on The Motley Fool Australia.
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More reading
- Buy Liontown shares for 100% upside: broker
- 4 ASX 200 lithium shares to buy now: broker
- Top ASX shares to buy in March 2023
- Roar! Broker initiates coverage on Liontown shares with buy rating
- Here are the 10 most shorted ASX shares this week
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 Block. The Motley Fool Australia has positions in and has recommended Block. 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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