It has been a bit of a mixed day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) but in afternoon trade the benchmark index has just broken into positive territory and is up slightly to 6,216.5 points.
Four shares that have climbed more than most today are listed below. Here’s why they are ending the week with a bang:
The Afterpay Touch Group Ltd (ASX: APT) share price has stormed almost 9% higher to $9.34 after being upgraded to a buy rating from neutral by Goldman Sachs. The broker made the move after an assessment of its U.S. opportunity. Goldman has increased the price target on Afterpay Touch’s shares to a lofty $11.15. While it is a high risk investment, I think the risk/reward on offer is compelling.
The Cann Group Ltd (ASX: CAN) share price has continued its stellar run and is up another 8% to $3.46. The medicinal cannabis company’s shares have now risen 24% since it announced the signing of an agreement for the lease and build of its Stage 3 cultivation and GMP manufacturing facility near Melbourne Airport.
The MMJ Phytotech Ltd (ASX: MMJ) share price has climbed 6% to 33.5 cents after its Weed Me Inc business secured an exclusive Canadian partnership with Amsterdam-based seed producer, Dutch Passion. The agreement means that Weed Me has the rights to bring to market Dutch Passion branded products like cannabis flowers and pre-rolls.
The Retail Food Group Limited (ASX: RFG) share price has rocketed 23% to 52.5 cents after the embattled food and beverage company finally released some good news to the market. That news was that its lenders have agreed to waive testing of the financial covenants under its senior debt facilities with respect to the period ending 30 June 2018. There were concerns that its results would breach debt covenants and put its future at risk.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of 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.