In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back some of its early gains but is still marginally higher at 6,073 points.
Four shares making notably solid gains today are listed below. Here’s why they have pushed higher:
The Cann Group Ltd (ASX: CAN) share price is up 28% to $3.69 after the Federal Government changed regulations to allow the export of medicinal cannabis. Almost all Australian pot stocks have posted strong gains today based on the news.
The Nearmap Ltd (ASX: NEA) share price is up 6.5% to 66 cents despite there being no news out of the aerial imagery company. But with its shares down significantly from their 52-week high of 80 cents, some investors appear to believe they are in bargain territory.
The SEEK Limited (ASX: SEK) share price has risen 2% to $18.99. The shares of the job listings company were given a boost today after being the subject of a broker note out of Morgan Stanley. The broker has seen enough positives in SEEK to lift its price target.
The WiseTech Global Ltd (ASX: WTC) share price has pushed 2.5% higher to $14.47. This means the logistics software company’s shares have now risen over 150% since this time last year. Investors appear to be betting that the series of small acquisitions it made last year will add significant value in the future. Whilst I am a fan of the company, I would prefer to buy in at a much cheaper price.
Where to invest $1,000 right now
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.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
Motley Fool contributor James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia owns shares of and has recommended Nearmap Ltd. The Motley Fool Australia owns shares of WiseTech Global. The Motley Fool Australia has recommended SEEK 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.