The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a reasonably good start to the week and finds itself up 0.3% to 5,940 points in afternoon trade.
Four shares which have had even better starts to the week are listed below. Here’s why they have surged higher:
The Bubs Australia Ltd (ASX: BUB) share price is up 3.5% to 15 cents after the infant formula and baby food company announced that it is the first Australian company to directly enter into a merchant agreement with Chinese social commerce application RED. With over 40,000,000 registered users, RED is the largest and fastest growing social commerce application in China.
The Lovisa Holdings Ltd (ASX: LOV) share price has jumped 8.5% to $3.80 after the fashion accessory company provided the market with its full-year guidance. Thanks to a strong second-half, management expects full-year EBIT to be between $38.5 million and $39.5 million. This is a good deal higher than the market consensus of $35.5 million.
The RCR Tomlinson Limited (ASX: RCR) share price is up almost 9% to $3.09 following a positive announcement out of the engineering and infrastructure company. According to the announcement the company has been awarded two contracts, totalling approximately $50 million. Both are with Canadian Solar and will see the company design and construct the 15MW Longreach Solar Farm and the first phase of the 25MW Oakey Solar Farm.
The Stemcell United Ltd (ASX: SCU) share price has rocketed 37.5% to 16.5 cents despite there being no news out of the pot stock. Whilst there are pot stocks on the ASX which I feel could deliver on expectations in the future, at this point in time Stemcell United isn’t one of them. For this reason I would suggest investors avoid the company.
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*Returns as of February 15th 2021
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.