The S&P/ASX 200 Index (ASX: XJO) has followed Wall Streetâs lead and dropped deep into the red on Wednesday. In afternoon trade, the benchmark index is down 1.25% to 7,176.3 points.
Four ASX shares that are not letting that hold them back are listed below. Hereâs why they are rising:
Flight Centre Travel Group Ltd (ASX: FLT)
The Flight Centre share price is up over 1.5% to $20.68. This follows the release of an update from the travel agent giant this morning. Flight Centre revealed that its strong recovery from COVID continued during the third quarter. This culminated in the company delivering monthly total transaction value (TTV) of over $1 billion for the first time in March.
Jumbo Interactive Ltd (ASX: JIN)
The Jumbo share price is up 7% to $13.61. Investors have been buying this lottery ticket sellerâs shares following the release of a trading update at an investor conference. Jumbo revealed that trading conditions have been kind and have resulted in lower than expected marketing costs as a percentage of sales.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is up 3% to $4.22. This may be related to the release of the lithium minerâs corporate presentation after the market close on Tuesday. That presentation outlined the company’s plan to grow its production capacity to 1Mt per annum by 2025 to âcapture value and increase revenue.â
Ramelius Resources Ltd (ASX: RMS)
The Ramelius share price is up 4.5% to $1.33. As well as getting a boost from a rising gold price, investors have been buying this gold minerâs shares after it announced that it has gained control of Breaker Resources NL (ASX: BRB). The company now owns over 50.1% of Breakerâs issued shares.
The post Why Flight Centre, Jumbo, Pilbara Minerals, and Ramelius shares are charging higher appeared first on The Motley Fool Australia.
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More reading
- Here are the 3 most heavily traded ASX 200 shares on Wednesday
- Flight Centre share price lifts following record, $1 billion month
- What’s the forecast for the lithium price in May?
- Here are the 3 most heavily traded ASX 200 shares on Tuesday
- Top broker upgrades Flight Centre share price
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 Jumbo Interactive. The Motley Fool Australia has recommended Flight Centre Travel Group and Jumbo Interactive. 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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