After a poor start to the day the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has rebounded strongly and finds itself up 0.4% to 5,771 points in early afternoon trade.
Four shares which have done a lot of the heavy lifting today are listed below. Here’s why they have bolted higher:
The Ardent Leisure Group (ASX: AAD) share price has climbed almost 4% to $1.61 after the entertainment company provided an update on its theme park division. Although revenue and visitor numbers in February were down compared to the prior corresponding period, they were a big improvement on December and January.
The Creso Pharma Ltd (ASX: CPH) share price has rocketed 23% to 47.5 cents after the medical marijuana company announced that it had signed a letter of intent with high-tech Swiss food and pharma development company Domaco. The company expects it to fast-track the commercialisation of its new human and animal health cannabinoid-rich nutraceutical products.
The Impedimed Limited (ASX: IPD) share price has jumped 3% to 71 cents after the medical technology company announced the placement of the first SOZO unit at Scripps Health. The device will be used in an initial study for monitoring patients with chronic heart failure in a clinical setting, in order to provide real-world data.
The Mesoblast limited (ASX: MSB) share price has surged higher by over 4% to $1.87 after the company advised that the U.S. FDA had granted a fast track designation for its MSC-100-IV cell therapy in children with acute Graft Versus Host Disease. The fast track designation has the potential to shorten the time to FDA approval through priority review. Whilst it is still early days, the initial trials have been positive.
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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.