MENU

Why these 4 ASX shares have stormed higher today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has been unable to follow the lead of U.S. markets and has dropped lower on Tuesday. In afternoon trade the benchmark index is down 0.3% to 6,005.2 points.

Four shares that have defied the market today are listed below. Here’s why they have stormed higher:

The A2 Milk Company Ltd (ASX: A2M) share price has rebounded from its recent decline with a 7% gain to $10.09. Bargain hunters appear to be swooping in after the infant formula and dairy company’s shares were heavily sold off last week on the back of a bearish broker note out of CLSA. I can’t say I’m surprised by this gain, I felt the selloff created a buying opportunity for investors prepared to make a long-term investment.

The Afterpay Touch Group Ltd (ASX: APT) share price has surged 5% higher to $8.58 despite there being no news out of the fintech company. A good number of Australian tech shares have pushed higher today following strong gains in the U.S. tech sector overnight. The Australian information technology sector is up 1.3% today.

The OM Holdings Limited (ASX: OMH) share price has jumped almost 10% to $1.09 even though there has been no new out of manganese explorer and miner. However, last week Metal Bulletin reported that manganese supply was 1.68 million dry metric tonnes in April, down 2.8% compared with March. With demand increasing strongly this year, investors may be betting on improved prices.

The Praemium Ltd (ASX: PPS) share price has climbed almost 5% to 77 cents. This morning the managed accounts platform provider announced that it has agreed terms with Morgan Stanley Wealth Management Australia to broaden its longstanding relationship to include managed accounts. Morgan Stanley currently has $27 billion in assets under management across 110 advisers. I think Praemium is well worth a closer look.

This "Holy Grail" Technology Could Produce World's First Trillionaire

One of the world's richest people is sounding the alarm on what could be a trillion-dollar technology.

And when a tech billionaire - several times over - speaks, it pays to listen.

This could be your chance to get in on the ground floor!

Click here to discover a $19.9 trillion dollar idea -- hidden in plain sight!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of A2 Milk and AFTERPAY T FPO. 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.

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.