There’s a rotation underfoot on the ASX share market that will make picking 2021 winners a little more challenging, but the latest broker buys could offer clues on which ASX shares you should buy now.

Some stocks that have rallied right through the pandemic aren’t faring quite as well in the past few weeks.

The rotation from COVID-19 winners to losers is expected to continue even as experts are forecasting more gains for the S&P/ASX 200 Index (Index:^AXJO).

Latest ASX shares upgraded to “buy”

You don’t want to be buying the wrong shares as the market repositions itself for the next leg of the bull market.

But one stock that could put a smile on your face is the Pacific Smiles Group Ltd (ASX: PSQ) share price. Wilsons upgraded the dental practice to “overweight” as it looked at the impact of the group opening 20 new offices a year from 10 to 12 offices.

“Scale benefits in corporate dentistry are less about margin expansion and more about structural advantages,” said the broker.

“We conclude that PSQ’s scale-up agenda is feasible without a material change in capital structure nor any variation in dividend policy.”

Wilsons’ 12-month price target on the Pacific Smiles share price is $2.95 a share.

Right port of call

Meanwhile, the Qube Holdings Ltd (ASX: QUB) share price is another worth putting on your “buy” list, according to Jarden.

The broker looked at container movements across our nation’s ports and believes shares in the New South Wales logistics group is cheap.

Container volumes at the NSW port jumped by 14.9% in January 2021 compared to the same time last year.

Container recovery more promising than it looks

While the start of 2020 was marred by bushfires and the drought, its encouraging to see that this January’s figures were still 7.6% ahead of January 2019.

“Strong organic volume growth in January presents upside risk to Qube’s growth outlook for 2H21e, as future months begin to be inflated by cycling low, COVID-19 impacted bases,” said Wilsons.

“We think the stock remains catalyst rich, and that earnings will be supported as industry volumes should continue to normalise post-COVID.”

The broker’s 12-month price target on the Qube share price is $3.60 a share.

More reading

• Can ASX bank shares keep rallying after hitting 52-week highs?
• ASX 200 up 0.7%: Vocus jumps on takeover update, Afterpay crashes 9%
• Why ASX 200 tech shares could be in for another wild session
• ASX All Technology Index teetering on verge of a bear market
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Brendon Lau has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The First Graphene Ltd (ASX: FGR) share price has made a strong comeback today. This comes after the company announced that it has entered a non-binding memorandum of understanding (MoU) with Gerdau S.A.

During most of the day, the graphene producer’s shares were trading in the red, as low as 23.5 cents. However, the company’s latest news has given investors an upbeat perspective with its shares bouncing to 25.5 cents, up 6.2%.

What’s moving the First Graphene share price higher?

The First Graphene share price is rocking higher today after releasing details of its MoU to penetrate the Americas.

According to its release, the MoU will look into Gerdau to distribute First Graphene’s products in mutually agreed economic sectors and business areas. This includes territories such as Brazil, South America, and potentially the United States.

Furthermore, the MoU will allow both companies to set up formal proceedings to negotiate and establish a commercial agreement. Under the deal, First Graphene will provide Gerdau with its knowledge and technology for use in different Graphene applications. In return, Gerdau will invest and develop end-use applications and become the exclusive distributor for the company’s products.

Quick take on Gerdau

Brazil largest steel producer, Gerdau is a leading manufacturer of long steel in the Americas region. The company has steel mills located in Argentina, Canada, Colombia, Mexico, the United States, Brazil, and many others.

It transforms 13 million metric tonnes of metal scrap heap into steel every year, used across an array of industries.

Management commentary

First Graphene CEO Mike Bell welcomed the partnership, saying:

We are pleased Gerdau recognises the enormous commercialisation opportunities graphene offers industry with the creation of a dedicated graphene division.

Gerdau’s recognition of First Graphene as a key global producer is testament to the advances made by First Graphene in the commercialisation of this disruptive nanomaterial.

The association with Gerdau, a world leader in the long steel and specialty steel markets with a very strong position in the Americas, will undoubtedly accelerate the use of graphene across a wide range of applications.

Gerdau Graphene business unit general manager Alexandre Corrêa added:

We are enthused about the opportunities available to Gerdau in the graphene industry in the Americas. We have selected First Graphene as a partner because of their robust supply capability, product quality and technical expertise.

The First Graphene share price has accelerated by more than 88% over the past 12 months.

More reading

• Latest broker ASX buy ideas for 2021
• Brokers raise ratings on these 2 ASX shares this afternoon
• The Creso (ASX:CPH) share price fizzles despite new distribution deal
• ASM (ASX:ASM) share price in flux after deal with South Korean Government
• IOUpay and Zip were among the most traded ASX shares last week

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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In a whirlwind of a day for the S&P/ASX 200 Index (ASX: XJO), shares are being divided. Financials and traditional value shares are pushing higher, while tech is slaughtered.

However, in the mess of it all, 2 ASX shares have been upgraded by leading brokers.

2 ASX shares getting upgraded

ALS Ltd (ASX: ALQ)

ALS Ltd is an ASX share that has performed solidly over the year, adding nearly 34% over the period. However, the global testing, inspection, and certification company has been caught up in the selloff since mid-February. As a result, the share price is nearly 20% off its February high, trading at $9.54 today.

Investors were buying up the share yesterday, following the announcement of the company acquiring Investiga. The purchase adds Investiga’s pharmaceutical testing operations in Brazil and the east coast of the US to ALS.

This afternoon JP Morgan lifted its coverage on the ASX share to a ‘neutral’ rating. The broker noted the increase in geochemistry sampling activity and the acquisition as positives for the business. Subsequently, the price target was set at $9.80 a share for March 2022.

At the time of writing, ALS is trading down 0.9% to $9.46. The company’s market capitalisation is now $4.61 billion.

Infomedia Ltd (ASX: IFM)

The Infomedia share price has been left battered and bruised in the recent ASX tech share thrashing. Prior to the February sell-off, the part cataloging software provider’s share price had been hovering around $1.85. At that price, the share had only shaved off 7% since last year. However, the tech armageddon has left Infomedia’s share price down 32% at $1.34.

It certainly didn’t help when the company reported flat earnings growth in late February. Management put the poor result down to timing delays in negotiations and installations. Additionally, the reluctance to provide future guidance further rattled investors.

However, this hasn’t stopped Bell Potter from raising its rating to a ‘buy’ on Infomedia. The broker is expecting double-digit earnings growth in both 2021 to 2022 and 2022 to 2023 for this ASX-listed share. Bell Potter believes the share is undervalued at $1.35, compared to its price target of $1.75, implying nearly 30% of upside on the current trading price.

At the time of writing, the Infomedia share price is flat at $1.33. The company’s market capitalisation is now $499 million. 

More reading

• ASX 200 rises, TWE jumps, Zip sinks
• ASX 200 up 1.6%: Appen rebounds, ALS acquires Investiga, Woolworths upgraded
• Why Afterpay, Alkane, ALS, & Woodside shares are storming higher
• Why the ALS (ASX:ALQ) share price is surging over 6% higher today
• Infomedia (ASX:IFM) share price dips 9% on flat earnings

Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Infomedia. The Motley Fool Australia has recommended Infomedia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Creso Pharma Ltd (ASX: CPH) share price has been up and down today following a signed letter of intent (LOI) with ImpACTIVE.

At the time of writing, Creso shares are down 2.5% to 20 cents in late afternoon trade, after earlier peaking at 21 cents.

Let’s take a closer look at what Creso updated investors with.

What did Creso announce?

The Creso share price is rising after providing investors with plans to enter the growing North American sports and recreational market.

According to the release, Creso advised that it has entered a non-binding LOI with ImpACTIVE to distribute its CBD-based products. This includes the company’s CannaDOL and CannaQIX10 products which are expected to drive sales in the North American market.

Based in Canada, ImpACTIVE is a company that is focused on providing a range of CBD-based products for people suffering from muscle and joint inflammation. The use of its alternative health treatments negates the need for pharmaceutical drugs.

ImpACTIVE was formed by current and former high-profile athletes who saw a gap in the market for people struggling with injury.

Terms of the agreement

Under the LOI, both parties will commence formal discussions to enter a commercial agreement on or before 1 April 2021. While the terms of the contract are still being finetuned, the deal will see Creso’s products distributed through established sales channels across America and Canada.

Furthermore, Creso will be granted rights to become an authorised supplier of ImpACTIVE’s CBD roller application in Switzerland and Europe. This is also projected to launch around April 2021.

The company has its sights on targeting the sports and recreational sector by providing easy access to its products. In Switzerland alone, Creso has developed relationships with all key wholesalers, reaching over 2,100 points of sales. This comprises pharmacy networks, drugstores, specialised retailers as well as 400 sports and fitness centres.

The initial period of the contract will be set for 1-year and will automatically renew. Either party may cancel the agreement provided it is done within 90 days before the end of the term.

What did management say?

Creso’s commercial director Jorge Wernli commented on the partnership:

We are very proud to enter the sports and recreational market with such a high calibre partner as ImpACTIVE. This LOI is important for Creso Pharma, as it further broadens our international footprint and provides another large market opportunity.

We look forward to working with ImpACTIVE to ensure all products are well received in Europe and North America, and also leveraging their innovative product range to further add to the Company’s growing sales profile.

About the Creso share price

The Creso share price has performed relatively well over the past 12 months, jumping 192%. Although the company’s shares were mostly flat until last November, positive investor sentiment picked up after the landmark announcement that the UN had decided to reclassify cannabis as a less dangerous drug.

On current valuations, Creso has a market capitalisation of around $195 million.

More reading

• Here’s why the Creso Pharma (ASX:CPH) share price is storming 11% higher

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Australian Strategic Materials Ltd (ASX: ASM) share price is trending downwards today.

Despite an early rise of 1.3% in morning trade, the share price has slipped and is now 0.5% down on yesterday’s close. At the time of writing, shares in the metal company are selling at $5.30. In comparison, the S&P/ASX All Ordinaries Index is up 0.3%.

Let’s take a closer look at the company’s most recent announcement and how it could be affecting the ASM share price.

What did ASM announce today?

In a statement released to the ASX, ASM announced it had signed a memorandum of understanding (MoU) with the South Korean, Chungbuk provincial government and Cheongju city government. The MoU is for the establishment of a metals plant within the Ochang Foreign Investment Zone.

The scope of the MoU includes “supply of utilities, administrative licenses and permit procedures…”

The plant is located 115km south of Korea’s largest city, Seoul. It will initially produce neodymium-iron-boron powder and titanium powder.

The company will also receive an as-yet undisclosed government grant as part of the deal.

Management commentary

Speaking on today’s announcement, ASM Managing Director David Woodall said:

This MoU, along with the strong support from the Korean Ministry of Trade, Industry and Energy (MOTIE) and the Chungbuk Provincial Government, provides ASM with confidence to build the metals plant in the Ochang Foreign Investment Zone. With key Korean manufacturing companies like LG Chemical, Samsung SDI, SK Hynix, and Hyundai Mobis within close proximity, we are confident that building our first metal plant in this well-established industrial area will provide significant benefits.

The Governor of Chungbuk, Si-Jong Lee, also gave his thoughts on the future plant:

To sustain the growth of the Chungcheongbuk-do economy, we strongly support this investment. ASM is establishing its Korean headquarters, 2 R&D centre and metals plant in the Ochang Foreign Investment Zone. This will provide key rare earth metals to the Korean economy and local employment to revitalise our local economy.

ASM share price snapshot

Despite today’s negative movement, the ASM share price is on the upward swing. Listed on the ASX at a price of $1.40 on 30 July 2020, the share’s value has increased by 277.1%. ASM shares reached their highest price ($6.84) in December last year.

More reading

• ASM (ASX:ASM) share price jumps as scoping study supports $45m plant build

Motley Fool contributor Marc Sidarous has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Australia’s leading investment platform provider CommSec has released data on the most traded ASX shares on its platform from last week.

Here’s the data:

Zip Co Ltd (ASX: Z1P)

For a fourth week in a row, this buy now pay later (BNPL) provider’s shares were the most traded on the CommSec platform. Zip shares accounted for 3.7% of trades last week, with approximately 60% coming from the buy side. Unfortunately, this wasn’t enough to stop the Zip share price losing 8% of its value over the five days. This was driven by weakness in the tech sector due to rising bond yields.

Afterpay Ltd (ASX: APT)

Afterpay was the next most traded share and attributable to 2.2% of total trades on the CommSec platform. Approximately 61% of these trades came from buyers. But as with Zip, this couldn’t stop the Afterpay share price from falling 3.5% last week. Once again, weakness in the tech sector appears to have weighed on its shares.

Betashares Nasdaq 100 ETF (ASX: NDQ)

This exchange traded fund (ETF) was popular with investors once again. It accounted for 2% of trades on CommSec over the five days. A whopping 88% of these trades came from buyers. They may have been looking to take advantage of a recent pullback by the Nasdaq 100. The ETF fell 1% during the week.

IOUpay Ltd (ASX: IOU)

A new addition to the top five this week is Malaysia-based BNPL provider IOUpay. Its shares were responsible for 1.9% of trades on CommSec during the week. And while two-thirds came from buyers, the buying wasn’t strong enough to stop the IOUpay share price falling 10% over the five days. Last week IOUpay announced a partnership with leading online payment gateway, iPay88. The agreement will see the company provide BNPL services to iPay88 customers.

CSL Limited (ASX: CSL)

CSL shares were back in the top five after accounting for 1.4% of trades last week. And as with the others, although 79% of trades came from the buy side, it wasn’t enough to stop the CSL share price sliding 5% lower. Part of this decline was due to CSL’s shares trading ex-dividend for its interim dividend. That will now be paid to eligible shareholders on 1 April.

More reading

• Credit Suisse just rated the Afterpay (ASX:APT) share price as ‘outperform’
• Why Adairs, Afterpay, IAG, & Livetiles shares are sinking
• ASX 200 up 0.7%: Vocus jumps on takeover update, Afterpay crashes 9%
• The tech-heavy Nasdaq is now in a correction!
• Why the Afterpay (ASX:APT) and Zip (ASX:Z1P) share prices are under pressure again

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 AFTERPAY T FPO, BETANASDAQ ETF UNITS, CSL Ltd., and ZIPCOLTD FPO. The Motley Fool Australia has recommended BETANASDAQ ETF UNITS. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Duratec Ltd (ASX: DUR) share price is on the rise after the company announced it has executed a letter of intent for a $63 million contract.

If successful, the engineering, construction, and remediation company will begin preliminary works to refurbish the façade of a high-rise in Perth’s CBD. Specifics as to which high-rise are yet to be made public.

The Duratec share price is currently sitting at 52 cents, up more than 10% from yesterday’s closing price of 47 cents.

More about the $63 million contract

Up for grabs is the contract to re-clad and enhance the façade of a significant Perth high-rise building.

Duratec is in final contract negotiations with the owners of the building, Perron Investments and APF Management (acquired by Frasers Logistics & Commercial Asset Management).

Finalising of the contract is now conditional upon the issuing of a Certified Building Permit and final negotiations of terms and conditions.   

Once granted the contract, Duratec will begin the construction phase of the refurbishment. The works are expected to take 165 weeks to complete.

Management commentary

Managing Director of Duratec Phil Harcout congratulated Duratec’s Building and Façade Team on its professionality throughout negotiations.

This is a significant announcement for Duratec as we continue to execute on our national specialist façade strategy.

This is an excellent example of the success of Duratec’s ECI business model meeting the needs and expectations of clients via transparency, consultation and provision of budget and programme certainty. We look forward to delivery of this project safely, on-time and to an outstanding standard of finish.

He added:

To date Duratec has successfully completed replacement of combustible cladding on buildings in NSW, Victoria and WA and we see this market sector is undergoing considerable growth, of which, we are well placed to capture a significant market share.

Duratec share price snapshot

Duratec has lost 13% of its value since it was first listed on the ASX in November 2020. It’s currently down 19% year to date.

After today’s rise of 10%, Duratec’s share price is 52 cents apiece. It has a market capitalisation of $112.79 million with approximately 237 million shares outstanding.

More reading

• Goldman Sachs CEO: GameStop share price and the Reddit phenomenon
• Where next for the A2 Milk (ASX:A2M) share price?
• ASX stock of the day: Aquis Entertainment (ASX:AQS) explodes 48% higher
• How does China really feel about Australian iron ore and coal?
• Splitit (ASX:SPT) share price sinks as trade volumes bounce

Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This morning’s Business Summit hosted by the Australian Financial Review certainly provided plenty of interesting commentary on the economy, financial markets, politics, and more.

Goldman Sachs CEO David Solomon joined the panel of speakers and spoke on a range of topical subjects. In particular, Solomon discussed the surge in retail participation in the stock market, which has led to occurrences such as the obscene fluctuations in the GameStop Corp (NYSE: GME) share price.

Digitisation catches regulators off guard

Soloman mentioned the prominence of retail traders thanks to the innovation in trading platforms. Low and no fee app-based brokers like Stake and Robinhood have aided in providing a cheap and easy means for transacting in the share market. However, Solomon stated that this is forcing legislators and regulators to catch up.

He admitted that a high involvement of retail investors has occurred numerous times over the years, although the velocity and scale were amplified drastically this time around. Solomon commented:

The pace of digitisation is outstripping the pace of… rule making and regulatory structure. There’ll be a lot of discussion about what aspects of this are good, and what aspects of this need some, some moderation I think that’ll be a healthy discussion.

The comments come at an interesting time, as the GameStop share price rockets ahead overnight. As a result, the Reddit-driven share has rallied 320% in roughly a week, with continuing short-selling pressure.

Solomon further stated, “Whether that participation is a good thing or a bad thing, whether people are going to make money on a sustainable basis and protect their wealth, we’ll see.”

GameStop share price flying high

GameStop’s recent rally comes after news that the Chewy.com founder Ryan Cohen will spearhead an e-commerce strategy. Ryan joined the GameStop board back in January, before the skyrocketing run in the company’s share price.

As reported by MarketWatch, the US Senate Banking Committee will hold another hearing tonight to discuss the GameStop theatrics. Specifically, Robinhood and other zero-commission brokers will be in focus.

More reading

• Subreddit ASX Bets is gambling these 4 ASX shares will follow in GameStop’s footsteps
• The risky nature of Robinhood style day trading revealed
• Is Reddit’s GameStop (NYSE:GME) crowd targeting Asian shares?
• Why GameStop (NYSE:GME) stock soared another 18% today
• Robinhood fires back at Berkshire Hathaway’s Charlie Munger over criticism

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The A2 Milk Company Ltd (ASX: A2M) share price has been well and truly out of form over the last 12 months.

During this time, the infant formula company’s shares have lost 42% of their value.

Why is the a2 Milk share price underperforming?

The a2 Milk share price has come under significant pressure over the last 12 months due to significant weakness in the daigou channel.

In addition, management’s failure to ascertain just how long this weakness would go on for has also weighed on its shares. This has led to the company downgrading its guidance for FY 2021 on two occasions.

Is this a buying opportunity?

Analysts at Goldman Sachs aren’t sure that now is the time to invest and have just held firm with their neutral rating and $10.30 price target.

Commenting on its recent half year results, Goldman said: “Although management’s guidance revision from Dec 2020 included a weaker CBEC channel, the decline was well ahead of GSe at -35.5%. EBITDA margins were impacted adversely by the mix impact from higher sales of lower margin China label products. Guidance for FY21 has been revised down by c. A$28-85.5mn at the top and bottom end of the prior range respectively on EBITDA.”

What could get the a2 Milk share price heading higher?

Goldman notes that there is upside risk if a2 Milk experiences a quicker than expected recovery in the daigou channel.

It also suspects that the company’s new CEO could provide a strategy update before the end of the financial year. If the market likes what it sees, it feels its shares could start rising.

Goldman explained: “Given his range of experience and capabilities, we believe incoming CEO, David Bortolussi, has the potential to make a material contribution to A2M’s strategic execution and, potentially, longer term performance. However, the strategic redirection is unlikely to be revealed until the new CEO has had some time in the role. We anticipate a strategy update at some stage in 4Q21, which could present as a catalyst for the stock.”

For now, though, Goldman appears to expect the a2 Milk share price to trade around its current level until the next catalyst appears. Hopefully for shareholders, this time it will be a positive one.

More reading

• Here’s why you should think twice about chasing the next hot ASX trend
• International Women’s Day: Which ASX companies are fighting gender inequality?
• Top brokers name 3 ASX shares to buy next week
• Synlait (ASX:SM1) share price crashes 7% on cancelled guidance
• ASX 200 slides lower, A2 Milk surges, Gold Road sinks

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Aquis Entertainment Ltd (ASX: AQS) share price has exploded today, up 48.89% at the time of writing to 34 cents a share. Aquis shares closed at 23 cents each yesterday, but opened at 24 cents this morning before rocketing as high as 49 cents (up 65%) just after open.

Today’s move caps off what has been a wild ride for Aquis over 2021 so far. Aquis is a company that, until 2021, had been drifting in relative obscurity for years. Between mid-2015 and the end of last year, the company had slowly lost around 80% of its value. Last year, Aquis even touched the depressingly low share price of less than half a cent.

But 2021 has seen a dramatic reversal of fortune for this company. After starting the year at 4 cents a share, Aquis rocketed by almost 2,000% between 16 and 25 February, when it reached a new all-time high of 82 cents a share. The difference between this company’s 52-week low and 52-week high is an astonishing 27,233% The share price has subsequently slid from those highs, but remains well above where it was just two months ago.

So what is going on with Aquis?

Who is Aquis Entertainment?

Aquis is a gaming company (meaning gambling and casinos, not Monopoly) whose flagship asset is Casino Canberra, the only licensed casino in the Australian Capital Territory. Beyond this, the company also states that it is “actively looking to grow its Australian operations”. Casino Canberra offers everything you would expect from a casino, including entertainment, bars and restaurants, accommodation and (naturally) gambling facilities.

Aquis also has a $307 million redevelopment proposal for Casino Canberra in its pipeline. This would expand the casino with luxury six-star villas, international-standard VIP offerings, more bars and nightclubs, and even a luxury shopping mall.

What’s been causing the Aquis share price volatility?

This is one of the strangest movements that has occurred on the ASX this year so far, I’d wager. There is nothing that can be fully verified to have caused this massive re-valuation of Aquis Entertainment. Between 29 January and 18 February, the company delivered one announcement to the markets. That was a quarterly report on 29 January. Aquis’ next announcement was a pause on trading on 18 February after an ASX query into the massive price movements that occurred in the days prior.

In response to this ASX ‘speeding ticket’, Aquis only had this to say: “The Company is not aware of any information concerning it that has not been announced to market and which could be an explanation for the recent trading in the Company’s securities”.

Even more mystifying is that these moves keep happening with no obvious catalyst. Just look at today. Aquis shares are up almost 50%. Yet the last major announcement from the company was 2 weeks ago (some financial statements). Looking at ASX trading volume data, we can see that today brought a massive surge in trades. Yesterday, approximately 453,000 Aquis Entertainment shares swapped hands. Today, the number is 2.9 million (and we’re still a couple of hours away from market close).

Whatever is going on here, it remains a mystery. But if you love ASX drama, make sure to keep watching this company! At the current Aquis share price, the company has a rough market capitalisation of $62 million.

More reading

• The Aquis Entertainment (ASX:AQS) share price is now up 1,000% in a week
• Aquis Entertainment (ASX:AQS) share price boosts 365% in second day of triple-digit gains

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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