Why these 4 ASX shares surged higher today

The Altura Mining Ltd (ASX:AJM) share price is one of four surging higher on Thursday. Here's what you need to know…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

In afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course for its third successive day of declines and is down 0.15% to 5,926 points.

Four shares that have managed to defy the market today are listed below. Here's why they have pushed higher:

The Altura Mining Ltd (ASX: AJM) share price has stormed 8% higher to 42.5 cents after the prospective lithium producer advised that it has been in discussions with Shaanxi J&R Optimum Energy Co. regarding a potential control transaction. Management has, however, warned that these discussions with the vehicle battery developer are at an early stage and there is no guarantee that anything will come of it. I think investors ought to hold off an investment for the time being.

The Argosy Minerals Limited (ASX: AGY) share price has climbed 7.5% to 35.5 cents. This morning the lithium-focused mineral exploration company announced that it has been granted approval to construct the remaining stage 2 lithium evaporation ponds at its Rincon Lithium Project in Argentina. In addition to this, it stated that its stage 1 lithium brine concentrate processing work is imminent.

The Experience Co Ltd (ASX: EXP) share price has pushed 10% higher to 72.5 cents despite there being no news out of the adventure company. However, prior to today its shares were down 26% year-to-date. This could mean that bargain hunters think its shares have fallen too far now and have swooped in.

The SKY and Space Global Ltd (ASX: SAS) share price is up 4% to 13 cents after the global communication infrastructure company announced that it has signed an operational evaluation agreement with Globalsat Group. The agreement aims to formalise the final step towards providing machine to machine and Internet of Things services in Central and South America. This is expected to lead to the signing of a commercial binding agreement within two months.

Motley Fool contributor James Mickleboro has no position in any of the 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 Scott Phillips.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »