The S&P/ASX 200 Index (ASX: XJO) has returned from the public holiday in a subdued fashion. In afternoon trade, the benchmark index is down 0.1% to 7,315.5 points.
Four ASX shares that are not letting that hold them back are listed below. Hereâs why they are pushing higher:
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is up 2.5% to $1.00. Investors have been buying this lithium minerâs shares following the release its third-quarter update. It was a busy three months for Core Lithium. During the period, it completed the construction of its Dense Media Separation (DMS) plant and achieved its first revenue from the maiden DSO shipment of 15,000 tonnes of spodumene concentrate to a Chinaâs Sichuan Yahua.
Kogan.com Ltd (ASX: KGN)
The Kogan share price is up 10% to $3.97. This follows the release of the ecommerce companyâs quarterly update. Although Kogan reported yet another big drop in sales, it achieved three consecutive months of positive EBITDA. It also announced a surprise on-market share buy-back of up to 10% of its issued shares.
Northern Star Resources Ltd (ASX: NST)
The Northern Star share price is up 3% to $13.96. Investors have been buying Northern Star and other gold miners on Wednesday following a rise in the gold price. This appears to have been driven by demand for safe haven assets amid banking sector concerns. The S&P/ASX All Ordinaries Gold index is up 2.6% today.
Pointsbet Holdings Ltd (ASX: PBH)
The Pointsbet share price is up 10% to $1.56. This is despite there being no news out of the sports betting company. However, the company is understood to be in the process of selling its US operations. Some investors may believe this will unlock value for shareholders.
The post Why Core Lithium, Kogan, Northern Star, and Pointsbet shares are storming higher appeared first on The Motley Fool Australia.
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More reading
- Core Lithium share price pops on Q3 report
- Kogan share price jumps 10% amid plans for share buyback cash splash
- 5 things to watch on the ASX 200 on Wednesday
- Why are ASX lithium shares powering higher today as the resource sector bleeds?
- These 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 Kogan.com and PointsBet. The Motley Fool Australia has positions in and has recommended Kogan.com. The Motley Fool Australia has recommended PointsBet. 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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