In afternoon trade the S&P/ASX 200 Index (ASX: XJO) looks set to start the week with a disappointing decline. At the time of writing the benchmark index is down 0.6% to 5,995.3 points.
Four shares that have not let that hold them back are listed below. Here’s why they are charging higher:
The Catapult Group International Ltd (ASX: CAT) share price has rocketed over 12% higher to $1.43. Investors have been buying the sports analytics and wearables company’s shares following the release of its full year update. According to the release, Catapult generated net free cash of $9 million in FY 2020. This was a massive $24.1 million increase on FY 2019’s result. As a result, it has achieved positive cash flow a year earlier than forecast. This was driven partly by its subscription-based business model.
The Eclipx Group Ltd (ASX: ECX) share price is up 6% to $1.38. This follows the announcement of a binding agreement for the sale of the Right2Drive business to Growth Factor Group for a purchase price of up to $26.5 million. The transaction includes an ongoing commercial relationship with Right2Drive, including a right to supply new vehicle leases to Right2Drive for a period of three years. All existing leases between Eclipx and Right2Drive will also remain on foot.
The FlexiGroup Limited (ASX: FXL) share price is up 3.5% to $1.25. This morning FlexiGroup released an update on its buy now pay later platform, Humm. According to the release, fourth quarter ecommerce volume was up 315%, with total transactions up 447% on the prior corresponding period. This was driven by a record number of ecommerce and instore integrations during the quarter and a new BPAY feature which allows customers to pay for bills in manageable interest. At the end of the quarter, the humm platform had a total of 56,000 retail partners.
The Whispir Ltd (ASX: WSP) share price has surged 17% higher to $3.94 following its fourth quarter update. The communications workflow platform provider’s update revealed strong demand by new and existing customers during the pandemic. According to the release, the company’s annualised recurring revenue rose 4.2% over the March quarter and 35.7% over the prior corresponding period to $42.2 million. This was driven by strong growth in the ANZ and Asia regions.
We hear it over and over from investors, “I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I’d be sitting on a gold mine!” And it’s true.
And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!
*Extreme Opportunities returns as of June 5th 2020
More reading
- Whispir share price surges 8% to a record high on stellar Q4 update
- FlexiGroup share price jumps 8% higher following BNPL update
- Catapult share price on watch after FY20 Results Preview
- These are the 10 most shorted shares on the ASX
- How to get rich by investing in small cap ASX shares
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Catapult Group International Ltd and Whispir Ltd. The Motley Fool Australia has recommended Catapult Group International Ltd, FlexiGroup Limited, and Whispir Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The post Why Catapult, Eclipx, FlexiGroup, & Whispir shares are charging higher appeared first on Motley Fool Australia.
from Motley Fool Australia https://ift.tt/30yH94C
Leave a Reply