The Motley Fool

Why these 4 ASX shares have started the week on a high

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its early gains and has sunk into the red. At the time of writing the benchmark index is down 0.1% to 6,082 points.

Four shares that have not let that hold them back are listed below. Here’s why they have started the week on a high:

The Kidman Resources Ltd (ASX: KDR) share price is up 4.5% to an all-time high of $2.41. Investors continue to fight to get hold of the lithium miner’s shares after it announced an offtake agreement with Tesla, Inc last week. This led to Ord Minnett slapping a buy rating and $3.20 price target on the company’s shares.

The Livetiles Ltd (ASX: LVT) share price is 8% higher to 41.5 cents following the release of a positive broker note out of Citi. According to the note, the broker has initiated coverage of the technology company with a (high risk) buy rating and 56 cents price target. The broker suspects that the strategic relationship with key Microsoft sales and marketing vendor N3 could prove to be material.

The Vocus Group Ltd (ASX: VOC) share price has surged 6% higher to $2.51 after the embattled telco company announced the appointment of Kevin Russell as its group managing director and CEO. Mr Russell has worked in the telco industry for over 20 years and held executive roles at both Telstra Corporation Ltd (ASX: TLS) and Optus. He also oversaw the turnaround of Hutchison 3G UK Holdings Limited.

The WiseTech Global Ltd (ASX: WTC) share price has risen 4.5% to $14.44 after the logistics platform provider announced the issue of approximately $100 million worth of shares to a single global institutional investor. Capital Group’s SmallCap World Fund picked up 7,560,153 ordinary shares at a price of $13.30 per share. Management believes that the issue will support the company’s future growth and I agree. So too does the market judging by its share price rise today.

5 stocks under $5

We hear it over and over from investors, "I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I'd be sitting on a gold mine!" And it's true.

And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!

*Extreme Opportunities returns as of June 5th 2020

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited and Vocus Communications Limited. The Motley Fool Australia owns shares of WiseTech Global. 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.

Related Articles...