The S&P/ASX 200 Index (ASX: XJO) is on course to end the week in the red. In late trade, the benchmark index is down 0.65% to 7,306.8 points.
Four ASX shares that are not letting that hold them back today are listed below. Hereâs why they are charging higher:
Bigtincan Holdings Ltd (ASX: BTH)
The Bigtincan share price is up 12% to 76.5 cents. Investors have been buying this sales enablement automation platform providerâs shares after it received a takeover approach. Bigtincan has received an unsolicited, indicative, conditional and non-binding proposal from SQN Investors to acquire it for $0.80 cash per share. This represents a 17.6% premium to the where the tech share ended yesterdayâs session.
Bubs Australia Ltd (ASX: BUB)
The Bubs share price is up 3% to 32 cents. This is despite the infant formula companyâs shares copping a downgrade from Citi this morning. The broker has downgraded Bubsâ shares to a hold rating and slashed their price target by over 50% to 32 cents. Citi suspects that the companyâs US sales are softer than expected.
St Barbara Ltd (ASX: SBM)
The St Barbara share price is up almost 11% to 69.2 cents. This follows a strong rise by the gold price last night. Investors appear to be betting that interest rates wonât rise as much as feared, which would be good news for gold. St Barbara isnât the only gold miner rising today. The S&P/ASX All Ordinaries Gold index is up 2.3% this afternoon.
Warrego Energy Ltd (ASX: WGO)
The Warrego Energy share price is up almost 10% to 28.5 cents. Investors have been buying this energy explorerâs shares this week after a bidding war broke out for it. Beach Energy Ltd (ASX: BPT) has outbid Hancock Energy’s 23 cents per share offer with a bid of 25 cents per share plus any net proceeds received from the sale of Warregoâs Spanish assets.
The post Why Bigtincan, Bubs, St Barbara, and Warrego shares are charging higher appeared first on The Motley Fool Australia.
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More reading
- 3 ASX shares soaring on takeover bids today
- Guess which ASX All Ords tech share is soaring 12% on takeover news
- 5 things to watch on the ASX 200 on Friday
- Warrego Energy share price rockets 80% in a month amid clash of the takeover titans
- Why Bubs, Collins Foods, Dusk, and Mayne Pharma shares are falling 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 positions in and has recommended Bigtincan. The Motley Fool Australia has positions in and has recommended Bigtincan. The Motley Fool Australia has recommended Bubs Australia. 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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