Why Medlab, Metcash, SKY and Space Global, and WiseTech shares charged higher today

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has dropped lower and given back most of yesterday’s gains. At the time of writing the benchmark index is down 0.25% to 6,201.5 points.

Four shares that have not let that hold them back today are listed below. Here’s why they have charged higher:

The Medlab Clinical Ltd (ASX: MDC) share price has zoomed over 11% higher to 39.5 cents after the medical life sciences company announced an agreement with Canadian pharmaceutical company, Pharmascience Inc, for the further development and global distribution of NanaBis. This product is a highly purified CBD/THC proprietary blend using the company’s patented sub-micron delivery platform, NanoCelle. It is currently in the second stage of an Australian advanced cancer pain trial.

The Metcash Limited (ASX: MTS) share price has charged 6% higher to $2.83 a day after the release of its strategy and trading update. One broker that appears to have liked what it saw was Morgan Stanley. According to a note out of the investment bank, its analysts have retained their overweight rating and $3.40 price target on Metcash’s shares.

The SKY and Space Global Ltd (ASX: SAS) share price has climbed 3.5% higher to 3 cents after the nanosatellite company announced a trial agreement with MTN Nigeria. Under the agreement, the two parties will examine the potential for collaborative projects using advanced Internet of Things and narrow band applications in several fields for application in the growing African market. MTN Nigeria is a leading mobile telecommunications provider serving over 52 million subscribers.

The WiseTech Global Ltd (ASX: WTC) share price has pushed 2.5% higher to $20.65 despite there being no news out of the logistics platform provider. A number of the most popular tech shares on the ASX have inexplicably climbed higher today despite the overall market and the rest of the tech sector sinking into the red.

OUR #1 dividend pick to grow your wealth in 2019 is revealed for FREE here!

Our top dividend stock pick for 2019 currently boasts a 5.4% dividend yield (fully franked). I believe it’s a perfect fit for a well-diversified, income-focused portfolio.

Even better, this yield comes attached to an attractive and still-growing business which could keep expanding throughout Australia and New Zealand for years to come. With disciplined management, and a long track record of building wealth for shareholders, this company is a serious candidate for any income-minded investor’s portfolio.

Simply click here to grab your FREE copy of this up-to-the-minute research report on our #1 dividend share recommendation now.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of WiseTech Global. 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.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…


The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!