In late morning trade the S&P/ASX 200 Index (ASX: XJO) has bounced back from yesterday’s weakness and is storming higher. At the time of writing, the benchmark index is up 1.25% to 6,690.3 points.
Four shares that are climbing more than most today are listed below. Here’s why they are racing higher:
Atomos Ltd (ASX: AMS)
The Atomos share price has jumped 11% to $1.09. Investors have been buying the global video technology company’s shares after the release of a trading update. That update revealed that Atomos achieved sales of $32.6 million during the first half. This was well ahead of its previous guidance of ~$28 million. Management advised that sales momentum in the later months of the half accelerated after its customers adjusted to a new COVID norm.
BOD Australia Ltd (ASX: BDA)
The Bod Australia share price has surged 11.5% higher to 48 cents. Investors have been buying the medicinal cannabis company’s shares after it reported strong sales growth. According to the release, Bod filled a total of 3,941 MediCabilis prescriptions during the last six months. This marks a 91% increase on the previous six months and a 114% increase on the prior corresponding period. Bod has now filled over 8,000 MediCabilis prescriptions since July 2019.
Galaxy Resources Limited (ASX: GXY)
The Galaxy share price is up a further 7% to $2.82. This lithium miner’s shares have been on fire over the last few months after lithium prices improved. In fact, an update by rival Pilbara Minerals Ltd (ASX: PLS) on Wednesday revealed that the Platts Battery Grade lithium carbonate pricing is up 35% to date from its lows in August 2020.
Zebit Inc (ASX: ZBT)
The Zebit share price has jumped 11% to $1.05 following the release of a trading update. That update revealed that the ecommerce company achieved net sales of US$44.8 million in the final quarter of 2020. This was a 35.2% increase on the prior corresponding period. Management advised that this was due to the strong trading conditions recorded throughout the peak shopping season.
This Tiny ASX Stock Could Be the Next Afterpay
One little-known Australian IPO has doubled in value since January, and renowned Australian Moonshot stock picker Anirban Mahanti sees a potential millionaire-maker in waiting…
Because ‘Doc’ Mahanti believes this fast-growing company has all the hallmarks of genuine Moonshot potential, forget ‘buy now pay later’, this stock could be the next hot stock on the ASX.
Doc and his team have published a detailed report on this tiny ASX stock. Find out how you can access what could be the NEXT Afterpay today!
See how you can find out the name of this stock
Returns as of 6th October 2020
More reading
- Why the Zebit (ASX:ZBT) share price is jumping 12% today
- Why ASX lithium shares are running hot in 2021
- Why Galaxy (ASX:GXY) and these ASX shares just hit 52-week highs or better
- Why Costa, Galaxy, Oil Search, & Ramelius shares are pushing higher
- These ASX shares have more than doubled in 2020
James Mickleboro owns shares of Galaxy Resources Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Atomos Ltd. The Motley Fool Australia has recommended Atomos Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post Why Atomos, BOD Australia, Galaxy, & Zebit shares are racing higher appeared first on The Motley Fool Australia.
from The Motley Fool Australia https://ift.tt/3pWQk9M
Leave a Reply