The Motley Fool

Why these 6 ASX shares have stormed higher today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has followed the lead of international markets and in afternoon trade is lower by 0.1% to 5,677 points.

Despite this a number of shares have gone against the grain and pushed higher. The following six shares stood out with noticeably strong gains. Here’s why:

Audio Pixels Holdings Ltd (ASX: AKP) has bounced back from yesterday’s savage sell-off with a 6% jump to $14.00. On Wednesday the Israel-based digital speaker developer revealed that the performance of its revolutionary loudspeaker chip didn’t reach certain critical objectives required for its commercialised product. This led to its shares falling a whopping 34%.

Capilano Honey Ltd (ASX: CZZ) shares have jumped 4% to $16.70 despite there being no notable news from the company this month. I’ve tipped the leading honey producer to have a big 2017 thanks to the launch of its Beeotic prebiotic honey range and continued growth in the China market. At just over 14x full year earnings I believe it could prove to be a bargain buy.

Mobile Embrace Ltd (ASX: MBE) shares have rocketed 12% higher to 14 cents despite there being no news out of the mobile commerce company. Despite today’s gain its shares are still down 63% in 2016 thanks largely to a 50% drop in its share price in November. That decline was a result of a downgrade to its full year earnings guidance following tough trading conditions domestically. I think the company has enormous potential, but I’d suggest investors hold off until it shows signs of improvement.

OceanaGold Corporation (ASX: OGC) shares have surged higher by 9% to $3.94 as the gold price continued to edge higher. At the time of writing the spot gold price fetched US$1,147 an ounce. Fellow gold miners Northern Star Resources Ltd (ASX: NST) and EVOLUTION FPO (ASX: EVN) have also put on strong gains of over 3% and 4% respectively.

5 stocks under $5

We hear it over and over from investors, "I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I'd be sitting on a gold mine!" And it's true.

And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!

*Extreme Opportunities returns as of June 5th 2020

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Capilano Honey Limited. 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 James Mickleboro (see all)