It has been a disappointing start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In early afternoon trade the index is down 0.4% to 5,782 points with sharp declines in the industrials sector weighing heavily on the index.
Despite the market pointing lower, four shares in particular have managed to carve out strong gains today. Here’s why:
The Bubs Australia Ltd (ASX: BUB) share price is up 10% to 19 cents this morning despite there being no news out of the organic infant formula and baby food company. Its shares have now rallied over 22% since last Monday’s close following a series of positive announcements.
The G8 Education Ltd (ASX: GEM) share price has jumped 3.5% to $3.69 after the childcare operator released a solid preliminary full-year report. Whilst investors were no doubt pleased to see underlying net profit after tax rise 7% to $93 million, I believe it will be the company’s potential China expansion plans that got them most excited.
The NIB Holdings Limited (ASX: NHF) share price is higher by 12% to $5.28 after the private health insurer released its half-year results. I can’t say I’m surprised to see its share price jump today following the strong result. For the first-half NIB reported a massive 65% increase in its net profit after tax to $71.1 million.
The Skydive the Beach Group Ltd (ASX: SKB) share price surged 8% to 61.7 cents following the release of the adventure company’s half-year results. Thanks partly to a 54.3% jump in bookings growth the company delivered an 82.2% increase in EBITDA. According to the release 27.3% of the bookings growth came organically, with the remainder coming from recent acquisitions.
These 3 stocks could be the next big movers in 2020
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.*
In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.
*Returns as of 6/8/2020
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.
- Buy Fortescue and this ASX dividend share for a source of income – September 20, 2020 2:15pm
- 5 stellar ASX growth shares that could smash the market in the 2020s – September 20, 2020 10:45am
- Goldman Sachs names 4 reasons to buy Telstra shares – September 20, 2020 10:00am