MENU

Why these 4 ASX shares stormed higher today

The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from recent declines and is up a solid 0.7% to 6,034 points in afternoon trade.

Four shares that have climbed more than most today are listed below. Here’s why they have stormed higher:

The Domain Holdings Australia Ltd (ASX: DHG) share price has rebounded from yesterday’s heavy decline with a 9% jump to $3.00. The property listings company’s shares were crushed on Monday following the shock resignation of its CEO Antony Catalano due to family commitments. One broker thinks that this sell-off is a buying opportunity, though. I would be a buyer, but only at a cheaper price.

The Orocobre Limited (ASX: ORE) share price has climbed almost 4% to $6.83. The majority of Australia’s lithium miners have pushed higher today after coming under pressure in recent days amid concerns of a potential oversupply of the metal. But with electric vehicle sales still growing at an astonishing rate, I’m confident that leading lithium producers still have bright futures ahead of them.

The ResMed Inc. (CHESS) (ASX: RMD) share price has jumped 8% to $11.93 following the release of its latest update. The sleep treatment company reported first-half revenue of US$1,124.9 million, up around 13% on the first-half of FY 2017. Pleasingly, first-half non-GAAP earnings per share grew at the even quicker rate of 24% to US$1.66. I think this result demonstrates why ResMed would be a great buy and hold investment.

The Thorn Group Ltd (ASX: TGA) share price is up 5% to 83 cents after announcing that it has agreed to settle with ASIC in relation to historic breaches of responsible lending practices. The total remediation will be approximately $6.1 million, but management advised that the provisions it has already made will cover this. This appears to have been a good result for the financial services company.

Missed these gains? Then don't miss out on these exciting tech shares with enormous growth potential.

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We're living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That's why at The Motley Fool we've been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

We've found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ResMed Inc. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.