In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.15% to 7,372.9 points.
Four ASX shares that are climbing more than most today are listed below. Hereâs why they are racing higher:
EML Payments Ltd (ASX: EML)
The EML share price is up 16% to 66.5 cents. This morning, this struggling payments company announced the exit of its CEO and the scrapping of its previously announced strategy. Investors appear pleased with its temporary CEO, new strategy, and a strategic review that will look at selling parts or all of its businesses.
Lake Resources N.L. (ASX: LKE)
The Lake Resources share price has jumped over 18% to 54.5 cents. This follows the announcement of another major milestone at the lithium developerâs Kachi project in Argentina. The company revealed that it produced 2,500 kilograms of lithium carbonate equivalents through its ion exchange technology.
Lindsay Australia Ltd (ASX: LAU)
The Lindsay Australia share price is up 19% to $1.25. This morning, this logistics company made a big upgrade to its earnings guidance for FY 2023. It now expects underlying EBITDA of $85 million to $90 million, compared to previous guidance of $68 million to $71 million.
Sayona Mining Ltd (ASX: SYA)
The Sayona Mining share price is up 11% to 21.7 cents. This has been driven by the lithium miner announcing a major increase to the mineral resource estimate of its Canadian operation. Management estimates that the Moblan Lithium Project represents one of North Americaâs single largest lithium resources.
The post Why EML, Lake Resources, Lindsay, and Sayona Mining shares are racing 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 Monday
- Lake Resources share price leaping 10% higher on ‘major milestone’
- EML share price rockets 11% after chief steps down
- Sayona Mining share price higher on big lithium news
- 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 EML Payments and Lindsay Australia. The Motley Fool Australia has positions in and has recommended EML Payments. The Motley Fool Australia has recommended Lindsay Australia. 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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