In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is back on form and is racing higher. At the time of writing, the benchmark index is up 1.5% to 7,048.5 points.
Four ASX shares that are climbing more than most today are listed below. Hereâs why they are rising:
Appen Ltd (ASX: APX)
The Appen share price is up 6.5% to $2.59. As well as a rebound in the tech sector, this artificial intelligence data services companyâs shares were given a boost from a broker note out of Jefferies. According to the note, the broker believes Appen will deliver revenue of US$393 million in FY 2022, which is at the top end of its guidance range. And while Jefferies only has a hold rating on Appen’s shares, its price target of $3.10 is meaningfully higher than current levels.
Hub24 Ltd (ASX: HUB)
The Hub24 share price is up 3.5% to $27.44. This wealth management platform provider’s shares were also given a boost from a note out of Jefferies. Its analysts believe HUB24 could double its market share over the next decade.
Northern Star Resources Ltd (ASX: NST)
The Northern Star share price is up 2.5% to $11.39. This follows another rise in the gold price overnight, which took the precious metal to a six-month high. This has led to the S&P/ASX All Ordinaries Gold index rising 2.2% this afternoon.
Pointsbet Holdings Ltd (ASX: PBH)
The PointsBet share price is up 6% to $1.59. In addition to benefiting from a tech rebound, an announcement yesterday could be giving PointsBetâs shares a lift. On Tuesday, the sports betting company announced its launch in the state of Ohio in the United States. This marks the companyâs 14th online sports betting operation in the country.
The post Why Appen, Hub24, Northern Star, and PointsBet shares are racing higher today appeared first on The Motley Fool Australia.
Turn the market pullback to your advantage today
The recent market pullback in stocks has been eye watering…
But there is a silver lining because, historically, some millionaires are made in bear markets.
And when investors can find world-class stocks at severe discounts you have to wonder…
Have you got these four ‘pullback stocks’ in your portfolio?
See The 4 Stocks
*Returns as of December 1 2022
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More reading
- 3 best ASX 200 gold shares of 2022
- 5 things to watch on the ASX 200 on Wednesday
- Here are the top 10 ASX 200 shares today
- Why ASX 200 gold shares top my 2023 investment radar
- Why Appen, Core Lithium, Paradigm, and Sayona Mining shares are racing higher
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 Appen, Hub24, and PointsBet. The Motley Fool Australia has positions in and has recommended Hub24. The Motley Fool Australia has recommended PointsBet. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
from The Motley Fool Australia https://ift.tt/R0AFKg7
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