Why BlueBet, Collins Foods, Northern Star, and Tassal shares are charging higher

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a solid gain. At the time of writing, the benchmark index is up 0.6% to 6,746.4 points.

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

Bluebet Holdings Ltd (ASX: BBT)

The BlueBet share price has jumped 19% to 56 cents. The catalyst for this is news that BlueBet has signed a 10-year market access agreement with Caesars Entertainment to operate a new online sportsbook in Indiana. This provides BlueBet with a big market opportunity. There are ~6.8 million people living in the state and $4.5 billion in wagering handle was generated during the last 12 months.

Collins Foods Ltd (ASX: CKF)

The Collins Foods share price is up 11% to $9.92. Investors have been buying this KFC restaurant operator’s shares following the release of its FY 2022 results. For the 12 months ended 1 May, Collins Foods delivered an 11.1% increase in revenue to $1,184,5 million and a 25% jump in underlying net profit after tax to $59.7 million. This was driven by growth across the business.

Northern Star Resources Ltd (ASX: NST)

The Northern Star share price is up 6% to $7.44. This morning this gold miner provided an update on its KCGM mill optimisation pre-feasibility study. That update reveals that the study was a success with Northern Star identifying an opportunity to deliver higher-margin ounces at improved capital efficiency.

Tassal Group Limited (ASX: TGR)

The Tassal share price is up 13% to $4.50. This follows news that the seafood producer has received a takeover approach. According to the release, fellow seafood company Cooke Inc has tabled a $4.85 cash per share offer. The Canada-based rival’s offer values Tassal at approximately $1 billion. However, management isn’t biting. It believes the offer doesn’t reflect the fundamental value of the business, nor is it in the best interests of shareholders.

The post Why BlueBet, Collins Foods, Northern Star, and Tassal shares are charging higher appeared first on The Motley Fool Australia.

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More reading

• Why is the BlueBet share price rocketing 16% today?
• ASX 200 midday update: Tech shares tumble, Collins Foods jumps
• Tassal share price rockets 14% on $1 billion takeover bid
• Collins Foods share price jumps 11% on FY22 results
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor James Mickleboro has positions in Collins Foods Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Collins Foods Limited. The Motley Fool Australia has recommended BlueBet Holdings Ltd and Collins Foods Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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