Why these 4 ASX shares are surging higher today

The APA Group (ASX:APA) share price is one of four surging higher on Wednesday. Here’s why…

| More on:
child in a superman outfit indicating a surge in share price

Image source: Getty Images

You鈥檙e reading a free article with opinions that may differ from The Motley Fool鈥檚 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) has given back all of yesterday鈥檚 gains and is down a sizeable 0.6% to 6,020.1 points.

Four shares that have defied the market and climbed higher today are listed below. Here鈥檚 why they have surged higher:

The APA Group (ASX: APA) share price has rocketed 21% higher to $10.00 after the gas infrastructure and transportation company received a $13 billion cash takeover offer. A Hong Kong-based consortium led by CK Infrastructure Holdings has offered $11.00 for each APA Group share, which was a 33% premium to the last close price. Time will tell whether the FIRB gives the deal its seal of approval.

The Catapult Group International Ltd (ASX: CAT) share price has continued its rise and is up a further 2.5% to $1.28. On Tuesday the sports analytics and wearables company was the subject of a positive broker note out of Morgans. The broker retained its add rating and $1.76 price target on Catapult鈥檚 shares after it received accreditation from FIFA. The broker believes this accreditation could make it easier for Catapult to initiate sales discussions with governing bodies and clubs.

The Gage Roads Brewing Co Limited (ASX: GRB) share price has surged 15% higher to 10.5 cents after successfully completing its institutional placement. According to the release, the craft brewery completed a bookbuild and received irrevocable commitments to raise $10 million at an issue price of 8.5 cents per share. The funds will be used to support the acquisition of Matso鈥檚 Broome Brewing.

The Gateway Lifestyle Group (ASX: GTY) share price has stormed 14.5% higher to $2.09 after the retirement living company announced the receipt of a non-binding all-cash proposal for all its shares from the Hometown Australia and Hometown American Communities Partnership. The partnership has offered $2.10 cash per share. Management advised that it has commenced a detailed assessment of the proposal and that due diligence access has not yet been granted.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Catapult Group International Ltd. 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 鈴革笍 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.
鈴革笍 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
鈴革笍 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

asx share price competitions represented by businessmen arm wrestling
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
鈴革笍 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

person reading news on mobile phone
鈴革笍 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