Why these 4 ASX shares are ending the week with a bang
In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its early gains and is down 0.1% to 6,235 points.
Four shares that have not let that hold them back are listed below. Here’s why they are ending the week with a bang:
The Airxpanders Inc (ASX: AXP) share price has rocketed 26% to 12.5 cents after the medical device company announced the raising of approximately A$20.3 million via a placement and underwritten pro-rata non-renounceable rights offering. The rights offering aims to raise A$15.7 million at A$0.075 per CDI. Supporting this is a private placement which has been made to certain U.S. investors to raise approximately US$3.4 million (A$4.6 million) at an issue price of US$0.167 per share.
The Blue Sky Alternative Investments Ltd (ASX: BLA) share price has pushed a further 13% higher to $2.61. Investors have been fighting to get hold of shares of the embattled asset manager after Macquarie Group Ltd (ASX: MQG) was revealed to be a substantial holder. Macquarie has been busy buying shares as the Blue Sky share price collapsed.
The Kogan.com Ltd (ASX: KGN) share price has continued its recovery and is up almost 5% to $5.17. The ecommerce company’s shares had been down as much as 53% from their 52-week high recently following a softer than expected trading update. Some investors appear to believe that this pushed them into bargain territory and have been snapping them up. I still think that Kogan’s shares are great value.
The Pilbara Minerals Ltd (ASX: PLS) share price is up 6% to 89.7 cents following the release of the definitive feasibility study for the Stage 2 5Mtpa Pilgangoora Lithium-Tantalum project. The study outlined a compelling case for the expansion to proceed and estimated the project to have a net present value of $2.16 billion, with life of mine project revenue estimated to be $12.2 billion and EBITDA of $6.3 billion.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Kogan.com 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.