The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has managed to bounce back from yesterday’s decline and in afternoon trade is up over 0.4% to 6,210.9 points.
Four shares that have climbed more than most today are listed below. Here’s why they have stormed higher:
The Audio Pixels Holdings Ltd (ASX: AKP) share price has rebounded from yesterday’s heavy decline and jumped 8% to $15.50. Despite the digital speaker development company having little to show for many years of development work, some investors still appear to believe that the “ground breaking” technology will one day justify its lofty $400 million market capitalisation. I’m not convinced this will be the case.
The Brainchip Holdings Ltd (ASX: BRN) share price has stormed 12.5% higher to 13.5 cents despite there being no news out of the artificial intelligence company. Brainchip’s shares aren’t overly liquid, which can lead to sharp increases and declines when an investor tries to pick up or offload a large number of shares.
The Dicker Data Ltd (ASX: DDR) share price is up 3.5% to $2.95 after the computer software and hardware distributor announced that it has been appointed as a distributor for the full range of Kyocera’s award-winning A3 and A4 ECOSYS print and consumables solutions in the Australian market. Management believes this deal will complement the company’s already successful business model and I completely agree.
The Perseus Mining Limited (ASX: PRU) share price has surged 10.5% higher to 48 cents. This morning the gold miner announced record production at its two West African mines. Management believes this has emphatically demonstrated the success of its plan to transform from a single mine producer into a successful multi-mine, West African focussed explorer, developer, and gold producer. In the June quarter Perseus achieved gold production of 83,881 ounces, up an impressive 31% on the March quarter.
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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 and has recommended Dicker Data Limited. 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.