The S&P/ASX 200 index is on course to record another disappointing decline after dropping notably lower again on Tuesday. In afternoon trade the index is down 0.4% to 6,646 points.
Four shares that haven’t let that hold them back are listed below. Here’s why they have climbed higher:
The Kogan.com Ltd (ASX: KGN) share price has risen 2.5% to $5.28 despite there being no news out of the ecommerce company. Kogan’s shares have been on a positive run since the announcement of a partnership with buy now, pay later company Splitit Ltd (ASX: SPT) at the start of the month. Its shares are up around 11% since that was announced.
The LiveTiles Ltd (ASX: LVT) share price has zoomed over 6.5% higher to 48.5 cents. With no news out of the company, this gain could have been driven by news that Coles Group Ltd (ASX: COL) has signed a major alliance with Microsoft that will see the supermarket giant use artificial intelligence to revamp its supply chain, product range, customer engagement, and workforce. LiveTiles has close ties with Microsoft and provides an intelligent workplace platform for SharePoint, Office 365 and Azure.
The Speedcast International Ltd (ASX: SDA) share price has raced 4.5% higher to $2.00. The remote communications and IT services provider’s shares have rebounded strongly this week after crashing a massive 48% lower last week. That decline was caused by a severe earnings guidance downgrade and appears to have left its shares trading at an attractive level for bargain hunters.
The THC Global Group Ltd (ASX: THC) share price has returned from its trading halt and stormed 7% higher to 45 cents. This morning the diversified cannabis company announced that it has been granted a Manufacture Licence from the Australian Office of Drug Control for its Southport manufacturing facility. Management estimates the initial annual production from the facility to be over 12,000kg of GMP compliant Active Pharmaceutical Ingredient isolates.
Does this make THC Global the cannabis share to buy? Find out here.
A little-known ASX company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Kogan.com ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.