After last week?s disappointing performance, the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back strongly and at lunch is up 0.8% to 5,884 points.
Four shares which have made notably strong gains today are listed below. Here?s why they have started the week strongly:
The Bellamy’s Australia Ltd (ASX: BAL) share price has surged 4% to $5.81 despite there being no significant news out of the infant formula company. This now means that Bellamy?s shares have climbed a remarkable 32% since this time last month.
The Cynata Therapeutics Ltd (ASX: CYP) share price has rocketed 16% to 51 cents after a…
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After last week’s disappointing performance, the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back strongly and at lunch is up 0.8% to 5,884 points.
Four shares which have made notably strong gains today are listed below. Here’s why they have started the week strongly:
The Bellamy’s Australia Ltd (ASX: BAL) share price has surged 4% to $5.81 despite there being no significant news out of the infant formula company. This now means that Bellamy’s shares have climbed a remarkable 32% since this time last month.
The Cynata Therapeutics Ltd (ASX: CYP) share price has rocketed 16% to 51 cents after a research note out of Shaws and Partners revealed that its analysts have slapped a buy rating and $1.20 price target on this exciting stem cell and regenerative medicine company. I said previously, I think Cynata is a very promising company and worth taking a closer look at.
The Cann Group Ltd (ASX: CAN) share price has continued to climb higher, this time by 7.5% to $71.5 cents. Since it hit the bourse last week, investors have been fighting to get a slice of this pot stock. So much so that it has driven its share price higher by almost 140% from its 30 cents listing price. Whilst it is too soon for an investment for myself, I do think it is one to watch considering its experienced and connected board.
The Fortescue Metals Group Limited (ASX: FMG) share price has rebounded from recent declines with a 4% gain to $5.01. The iron ore producer’s shares have fallen sharply recently following a sudden drop in iron ore prices. Despite today’s gain its shares are still down 14% year-to-date. I expect further pressure on prices later this year due to increased supply, which could weigh heavily on Fortescue’s share price. Because of this I think the miner is best avoided for the time being.
Missed out on these big gains? Don't worry, these high-flying shares could be next for BIG gains in my opinion.
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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.