In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is off its lows but still on course to record a disappointing decline. The benchmark index is currently down 1.45% to 6,966.3 points.
Four ASX shares that are not letting that hold them back are listed below. Hereâs why they are charging higher:
Atlantic Lithium Ltd (ASX: A11)
The Atlantic Lithium share price is up 11% to 49 cents. Investors appear to be taking advantage of recent weakness to pick up shares in this lithium explorer. Its shares were crushed after being hit by a scathing short attack alleging corruption. The company has refuted these claims.
Pushpay Holdings Ltd (ASX: PPH)
The Pushpay share price is up 15% to $1.30. This morning, this payments company revealed that it has received an improved takeover proposal from Pegasus BidCo. According to the release, Pegasus has lifted its offer by 6% from NZ$1.34 cash per share to NZ$1.42 per share. This represents an offer of A$1.32 per share and values Pushpay at A$1.52 billion.
St Barbara Ltd (ASX: SBM)
The St Barbara share price is up 3% to 59.2 cents. Investors have been buying gold miners again on Thursday in response to the market volatility. This has led to the S&P/ASX All Ordinaries Gold index rising over 0.5% this afternoon.
Temple & Webster Group Ltd (ASX: TPW)
The Temple & Webster share price is up 2.5% to $3.54. This has been driven by news that the online furniture retailer is undertaking an on-market share buyback. Temple & Webster intends to acquire up to $30 million worth of its shares over a 12-month period starting on 3 April. It commented: âThe board considers the acquisition of shares at prevailing prices to be effective capital management while retaining financial flexibility to fund accretive organic and inorganic opportunities as part of its growth strategy.â
The post Why Atlantic Lithium, Pushpay, St Barbara, and Temple & Webster shares are rising appeared first on The Motley Fool Australia.
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More reading
- Despite today’s ASX sell-off, All Ords gold shares are surging significantly higher
- Amid the carnage, this ASX tech stock is rocketing 15%. Here’s why
- Temple & Webster share price higher on $30 million share buyback
- Guess which ASX lithium share just rebounded 15%
- Why Atlantic Lithium, Life360, Neuren, and Whitehaven Coal shares are charging higher
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 Pushpay and Temple & Webster Group. The Motley Fool Australia has positions in and has recommended Pushpay. The Motley Fool Australia has recommended Temple & Webster Group. 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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