The S&P/ASX 200 Index (ASX: XJO) has faded in afternoon trade but remains on course to record a decent gain. At the time of writing, the benchmark index is up 0.4% to 6,804.5 points.
Four ASX shares that are climbing more than most today are listed below. Hereâs why they are rising:
Aroa Biosurgery Ltd (ASX: ARX)
The Aroa Biosurgery share price is up 12% to 90 cents. This morning this medical device company released its half year update and revealed a 44% increase in revenue to NZ$28.8 million. In light of this strong half, the soft tissue regeneration company has upgraded its full year guidance for FY 2023 by approximately NZ$10 million.
Cettire Ltd (ASX: CTT)
The Cettire share price is up 12% to $1.74. This is despite there being no news out of the online luxury fashion retailer. This strong gain means its shares have now more than doubled in value since the start of the month. This has been driven by the release of a strong first quarter update earlier this month.
Estia Health Ltd (ASX: EHE)
The Estia Health share price is up 5% to $2.06. This morning this aged care provider announced a deal to acquire four residential aged care homes from the Premier Health Care Group. The release notes that these acquisitions are expected to be earnings per share accretive from the second half of FY 2023.
Weebit Nano Ltd (ASX: WBT)
The Weebit Nano share price is up 4% to $2.44. Investors have been buying this semiconductor companyâs shares following the release of an investor presentation. The presentation reveals that management believes that the embedded ReRam market will grow from $18 million in 2021 to $957 million by 2027.
The post Why Aroa Biosurgery, Cettire, Estia Health, and Weebit Nano shares are rising appeared first on The Motley Fool Australia.
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More reading
- Back in fashion? This ASX All Ords share is up over 130% so far in October
- It wasnât all bad news for ASX All Ords shares on Monday. Here are some big winners
- Guess which ASX All Ordinaries share is rocketing 30% this week?
- Why Cettire, Moneyme, Piedmont Lithium, and Superloop shares are racing higher
- Guess which ASX ecommerce share is rocketing 17% higher today
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Cettire 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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