The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to push higher ahead of the Christmas break. In early afternoon trade the index is up 0.3% to 6,078 points.
Four shares that have climbed more than most today are listed below. Here’s why they are ending the week with strong gains:
The Bubs Australia Ltd (ASX: BUB) share price is up 6% to 75 cents after announcing that it has completed the acquisition of NuLac Foods Ltd. The acquisition is part of the company’s aim of becoming a vertically integrated infant formula company with control over all parts of its supply chain.
The Queensland Bauxite Ltd (ASX: QBL) share price has jumped 14% to 5.7 cents after signing an agreement with Algae Tec Ltd (ASX: AEB) to exclusively license Medical Cannabis’ low THC Delta 9 cultivars from its unique Australian Cannabis seed bank.
The Retail Food Group Limited (ASX: RFG) share price has continued its recovery and is up 9% to $2.34. I wouldn’t get overly excited about this recent rally higher, I suspect it has been caused by short covering. Retail Food Group has been one of the most shorted shares on the ASX all year.
The Yojee Ltd (ASX: YOJ) share price is 6% higher at 28 cents following the release of a business update. According to the release, last mile deliveries on Yojee’s Singapore network have grown almost 700% over the last six months. Despite the rapid increase in deliveries the company’s performance standards have been maintained.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Retail Food Group Limited. 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.