Why Bubs, Champion Iron, Playside Studios, and Select Harvests shares are charging higher

The S&P/ASX 200 Index (ASX: XJO) has fought back from a red morning and is pushing higher in afternoon trade thanks to cooling inflation. At the time of writing, the benchmark index is up 0.2% to 7,616.9 points.

Four ASX shares that are rising more than most today are listed below. Here’s why they are climbing:

Bubs Australia Ltd (ASX: BUB)

The Bubs share price is up 9% to 12 cents. This follows the release of the infant formula company’s quarterly update. Bubs recorded a 79.7% increase in gross revenue to $25.7 million for the three months ended 31 December. The United States business was the star performer, delivering a 498% increase in gross revenue to $13.7 million. It now represents 53% of total gross revenue.

Champion Iron Ltd (ASX: CIA)

The Champion Iron share price is up 4.5% to $8.51. This has been driven by the iron ore miner’s third quarter update this morning. Champion Iron posted record quarterly production of 4wmt, which underpinned revenue of C$507 million and EBITDA of C$247 million.

Playside Studios Ltd (ASX: PLY)

The Playside Studios share price is up 21% to 72.5 cents. Investors have been buying this game developer’s shares after it reported a record quarterly performance. Playside revealed record quarterly revenue of $20.7 million and positive unaudited EBITDA of $8 million. The latter is almost double what was recorded in the previous quarter.

Select Harvests Ltd (ASX: SHV)

The Select Harvests share price is up 16% to $3.70. This morning, this almond producer released a trading update and revealed that its 2024 crop is looking strong. This is good timing because it also advised that global almond market conditions are increasingly positive. It notes that market prices for almonds are rising, particularly for higher grade material, and export markets are becoming increasingly active.

The post Why Bubs, Champion Iron, Playside Studios, and Select Harvests shares are charging higher appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Guess which ASX All Ords share is jumping 18% following its quarterly update
• Here are the top 10 ASX 200 shares today
• Tripled since COVID: 2 rocketing ASX 200 stocks not too late to buy
• 2 ASX 200 shares that could surge in 2024 if the RBA cuts interest rates
• ‘Outstanding value’: 2 ASX small-cap shares ready to explode in 2024

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 no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/r24cKpY