In morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to end its winning streak. At the time of writing the benchmark index is down 1.25% to 5,891.1 points.
Four shares that have not let that hold them back today are listed below. Here’s why they are pushing higher:
The Accent Group Ltd (ASX: AX1) share price is up 4% to $1.41 after the release of a trading update. According to the release, despite the pandemic, the footwear-focused retailer expects to deliver a 10% increase in operating earnings in FY 2020. For the 51 weeks ending 21 June, Accent’s total sales stood at $923 million. Impressively, digital sales were up 150% between April and 21 June.
The CSL Limited (ASX: CSL) share price is up almost 1% to $294.69. Investors have been buying the biotherapeutics company’s shares after it announced the US$450 million acquisition of AMT-061 from Nasdaq-listed gene therapy company, uniQure. The AMT-061 program, which is currently in Phase 3 clinical trials, could be one of the first gene therapies to provide potentially long-term benefits to patients with haemophilia B. One dose of AMT-061 has shown to increase Factor IX plasma levels to a degree that reduces or eliminates the tendency for bleeding for many years.
The Kogan.com Ltd (ASX: KGN) share price is up 0.6% to $15.60 despite there being no news out of the ecommerce company. However, a very positive update from one of its fellow online retailers this morning could have given its shares a boost today.
The Redbubble Ltd (ASX: RBL) share price has jumped 40% to $2.19. This morning the ecommerce company released a trading update which revealed that its sales have been booming over the last few months. Quarter to date, revenue is up 107% on the prior corresponding period. This has led to its operating profit for the 11 months to 31 May increasing 101% to $11.9 million.
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
- Redbubble share price rockets 40% on bumper Q4 sales growth
- CSL share price on watch after US$450 million acquisition news
- Why I would buy these outstanding ASX 50 shares right now
- 3 high quality ASX shares I would buy if there were another market crash
- Give your portfolio a boost with these ASX blue chip 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 CSL Ltd. and Kogan.com ltd. The Motley Fool Australia has recommended Accent Group, Kogan.com ltd, and REDBUBBLE FPO. 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 Accent, CSL, Kogan, & Redbubble shares are pushing higher appeared first on Motley Fool Australia.
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