It has been a disappointing day for the S&P/ASX 200 Index (ASX: XJO) on Wednesday. In afternoon trade, the benchmark index is down 0.8% to 6,648.5 points.
Four shares that have not let that hold them back today are listed below. Here’s why they are pushing higher:
AVZ Minerals Ltd (ASX: AVZ)
The AVZ Minerals share price has jumped 18% to 16.5 cents. Investors have been buying the lithium-focused mineral exploration company’s shares since the release of an announcement last week. That announcement revealed that AVZ Minerals has signed a strategic, long-term offtake partnership with China’s largest lithium compounds producer, Ganfeng Lithium. The deal is for 30% of the company’s Manono Project’s initial saleable yearly tonnage.
Immutep Ltd (ASX: IMM)
The Immutep share price has risen almost 8% to 42 cents. This morning the biotech company revealed that it has been granted a patent in the United States relating to combined preparations comprising its lead active immunotherapy candidate eftilagimod alpha (efti) and a PD-1 pathway inhibitor. This US patent follows the grant of the corresponding European patent in November 2018.
Kogan.com Ltd (ASX: KGN)
The Kogan share price is up over 2% to $19.37. This is despite there being no news out of the online retailer today. However, with the COVID-19 outbreak in New South Wales continuing to spread, investors may believe more and more people in the state will be forced to shop online during the peak retail season.
Strategic Elements Ltd (ASX: SOR)
The Strategic Elements share price has rocketed 45% higher to 24 cents. Investors have been buying the company’s shares following the release of an announcement relating to its printable Nanocube Memory technology. According to the release, testing has confirmed that the technology has potential as printable brain-inspired (neuromorphic) computing hardware. The University of New South Wales confirmed that the Nanocube Memory structure and operation allows it to combine computing and memory in one place in a way similar to how biological neurons operate.
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Returns as of 6th October 2020
More reading
- Why the Strategic Elements (ASX:SOR) share price rocketed 39% higher today
- Why the Immutep (ASX:IMM) share price jumped 9% higher today
- 2 explosive ASX growth shares to buy for 2021
- Why these ASX shares have smashed the market in 2020
- 3 ASX growth shares to buy this week
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 Kogan.com ltd. The Motley Fool Australia has recommended Kogan.com ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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