The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from its morning decline and is up slightly in afternoon trade. At the time of writing the benchmark index has edged slightly higher to 6,146.7 points.
Four shares that have climbed more than most today are listed below. Here’s why they have started the week with a bang:
The Afterpay Touch Group Ltd (ASX: APT) share price has jumped 6.5% to $15.98 despite there being no news out of the fintech company. However, with Afterpay Touch’s shares falling heavily last week, I wouldn’t be surprised if some investors were swooping in today to pick up shares at a more attractive price.
The Brainchip Holdings Ltd (ASX: BRN) share price has stormed 9% higher to 17.5 cents after the leading neuromorphic computing company announced that it is the first company to bring a production spiking neural network architecture to market with the launch of its Akida Neuromorphic System-on-Chip (NSoC) product. This puts Brainchip in a position to attempt to win a share of an artificial intelligence acceleration chipset market which is estimated to be worth more than US$60 billion by 2025 according to market intelligence firm Tractica.
The Medical Developments International Ltd (ASX: MVP) share price is up almost 5% to $4.09 following the release of its CEO Roadshow presentation. Within the presentation management advised that it expects to see its Penthrox product on sale in 37 countries over next 12 months, with material sales growth being seen at the end of the year and in FY 2020. During this time it expects various approvals at hospital level to be obtained and the use of Penthrox to become mainstream.
The Primary Health Care Limited (ASX: PRY) share price has pushed 2.5% higher to $2.88 after announcing the acquisition of Montserrat Day Hospitals. Primary Health Care will acquire the operator of seven specialist day hospitals and haematology / oncology clinics for a total consideration of up to $138.5 million. Management has advised that Montserrat will form the nucleus of a new Primary Day Hospital division which will derive its revenue outside of the Medicare Benefits Schedule.
5 stocks under $5
We hear it over and over from investors, "I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I'd be sitting on a gold mine!" And it's true.
And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!
*Extreme Opportunities returns as of June 5th 2020
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.
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