Why these 4 ASX shares are ending the week with a bang

Mayne Pharma Group Ltd (ASX:MYX) is one of four shares that have rocketed higher today. Here's why…

| 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

So far it has been a disappointing end to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index is down 0.6% to 5,659 as the world awaits the inauguration of Donald Trump as U.S. president overnight.

Despite the market dropping sharply lower, four shares in particular have gone against the grain and made notably strong gains today. Here's why:

Bubs Australia Ltd (ASX: BUB) shares are up 7% to 22.5 cents today. Although the shares of this newly listed infant formula manufacturer are now 50% lower than their 45 cents high, they're still a good 125% higher than their initial listing price. I believe it is definitely one to watch closely, but perhaps not one to invest in just yet.

Data#3 Limited (ASX: DTL) shares have surged 8.5% to $1.79 after the technology consulting company announced that it expects its half-year net profit before tax to come in 31% higher year on year at $8 million. The company had a very strong FY 2016 and appears to have carried this momentum through to FY 2017. At the current share price it could be worth a closer look in my opinion.

Mayne Pharma Group Ltd (ASX: MYX) shares have climbed 4% to $1.33 despite there being no news out of the fast-growing pharmaceutical company. With its shares down by a third in the last six months, I believe Mayne Pharma could be classed as a bargain buy. Especially as it has a pipeline of drugs estimated to be worth upwards of US$7 billion in annual sales.

Pilbara Minerals Ltd (ASX: PLS) shares have jumped almost 7% to 55.5 cents despite there being no noteworthy news out of the lithium miner. Today's gain means its shares have now doubled in value in the last 12 months. With demand for lithium remaining strong and prices rising, Pilbara certainly appears to be positioned to deliver strong growth in the coming years.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. 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.

More on ⏸️ Investing

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 »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »