Motley Fool Australia

Why these 4 ASX shares are rocketing higher today  

Credit: Thomas of Tortuga

The S&P/ASX 200 (Index: ^AJXO) (ASX: XJO) looks like posting a positive finish to the week as it sits marginally higher in afternoon trade, with several stocks roaring higher.

Let’s take a look at what may be behind the price action of some of today’s top movers.

Select Harvests Limited (ASX: SHV) is the almond farmer and retailer that has many investors studying weather patterns and almond price forecasts to get a read on which way its earnings might be travelling. The farmer’s returns are leveraged to global almond supply and prices, with the stock losing 60% of its value over the last six months. This as almond pricing retracts from record levels on lower consumption, today the stock has rebounded 6% to $4.35 as some bargain hunters move in.

Ademdus Ltd (ASX: AHZ) is the regenerative medicine business with an evangelical following of retail shareholders, big cash burn, and low revenues.

Today the biotech updated the market with news over progress on its Phase II clinical trial for a potential HSV-II virus vaccine. The company’s shares have been falling throughout 2016 as its Cardiocel heart patch sales fail to gain the traction anticipated. Today the stock is up 9.5% to 46 cents, but still down 30% over the course of 2016.

Vocus Communications Limited (ASX: VOC) shares are up nearly 3% in afternoon trade to $8.25 after a range of brokers posted buy ratings on the business with share price targets above what the stock swaps hands for today. The new Vocus / M2 Group has some big potential and Vocus continues to invest in expanding its metropolitan fibre network. Given its expanding fibre-optic infrastructure assets and the powerful digital tailwinds this looks a stock to own.

Liquefied Natural Gas Ltd (ASX: LNG) is a former market superstar that has fallen from a high of $5 in 2015 to just 63 cents today on the back of the precipitous falls in oil prices over the past year. Today the stock has lifted 4.5 cents or 7.7% despite the company releasing no news to the market. It remains a speculative bet and investors might be best off watching this one from the sidelines.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of June 30th

Motley Fool contributor Tom Richardson owns shares of Vocus Communications Limited.

You can find Tom on Twitter @tommyr345

Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. 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 Bruce Jackson.

Related Articles…

Latest posts by Tom Richardson (see all)