4 ASX stocks blitzing the market today

ASX sinks, but these four are all up more than 10%

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

It hasn't been a good 6 days for the market.

Over the past week, the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) slipped 1.2%, and is down another 0.9% in late afternoon trading today. Has the market developed the yips, and are more falls ahead?

Who knows, and for investors in these four stocks, what the market is doing means nothing. All four have zoomed ahead today. Not a bad performance in a down market…

Elders Ltd (ASX: ELD) has seen its shares soar 19% to 25 cents, after the beleaguered agribusiness company  announced the successful completion of a $57 million capital raising. The company says it is aiming for earnings before interest and tax (EBIT) of between $23 million and $28 million this financial year, while long-term debt will fall from $118 million to $21 million, and potentially to zero following the sale of Elder's investment in AWH.

Colorpak Limited (ASX: CKL) shares have rocketed up 15% to 69 cents, despite no news from the company. Colorpak designs and produce cartons, paper cups and lids, leaflets, labels, point-of-sale displays and other paperboard products. Unfortunately for shareholders, the 2104 financial year wasn't a great one, hit by impairment and restructuring charges, resulting in the company reporting a net loss of $13.2 million. With $39m of net debt, this is one company I'll be letting through to the 'keeper.

Clinuvel Pharmaceuticals Limited (ASX: CUV) has seen its shares soar to $4.19, a rise of 13.6%, continuing its strong performance this year. Since January, shares in Clinuvel are up a whopping 342%. Substantial shareholder Retrophin, Inc announced on Friday last week that it had increased its holding to 7.8% of the Clinuivel. The NASDAQ listed Retrophin offered $2.17 per share in early August 2014, and appears to believe shares are still cheap at existing prices.

Bauxite Resources Limited (ASX: BAU) is up 11.1% at 15 cents, and 30% in the last five days. As we noted last week, avoiding a costly legal battle is likely one of the drivers pushing the share price higher today.

While these stocks may be a bit speculative, investors looking for profitable companies paying decent dividends, with plenty of growth ahead, should read on…

Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga

More on ⏸️ Investing

A white and black robot in the form of a human being stands in front of a green graphic holding a laptop and discussing robotics and automation ASX shares
Technology Shares

Joining the revolution: How I'd invest in ASX AI shares right now

Advances in artificial intelligence (AI) could usher in a new industrial revolution. Here’s how you can invest in it.

Read more »

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »