The Motley Fool

Why Althea, Bega Cheese, Myer, & Nearmap shares stormed higher today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has continued its strong form and reached a new six-month high on Thursday. In afternoon trade the benchmark index is up 0.35% to 6,268.3 points.

Four shares that have climbed more than most today are listed below. Here’s why they stormed higher:

The Althea Group Holdings Ltd (ASX: AGH) share price is up 5.5% to 37.5 cents following the release of an investor update. According to the release, the medicinal cannabis company has experienced strong patient and prescriber growth in Australia. As a result, second half sales have “shown significant growth”. In the first half revenue on the sale of cannabis products in Australia came to $174,000.

The Bega Cheese Ltd (ASX: BGA) share price has bounced back from its recent declines and is up 3.5% to $4.70 today. The diversified food company’s shares have come under significant pressure since the release of its half year results. This led to them hitting a multi-year low on Wednesday. Some investors appear to believe the selling has been overdone and created a buying opportunity.

The Myer Holdings Ltd (ASX: MYR) share price has pushed a further 3% higher to 47 cents. The department store operator’s shares have rallied strongly since the release its half year results yesterday. In the first half of FY 2019 Myer posted a 2.8% decline in sales to $1,671.4 million, but a 3.1% increase in profit after tax to $41.2 million. Myer’s online business was a key driver of its growth, delivering an 18.6% increase in sales to $151.2 million.

The Nearmap Ltd (ASX: NEA) share price has zoomed 4% higher to $2.81. At one stage today the geospatial map technology company’s shares were trading at an all-time high of $2.88 despite news that two of its directors had offloaded shares through on-market trades this week. Nearmap’s shares are up 200% in the last 12 months.

NEW! Top 3 Dividend Bets for 2019

With interest rates likely to stay at rock bottom for months (or YEARS) to come, income-minded investors have nowhere to turn... except dividend shares. That’s why The Motley Fool’s top analysts have just prepared a brand-new report, laying out their top 3 dividend bets for 2019.

Hint: These are 3 shares you’ve probably never come across before.

They’re not the banks. Not Woolies or Wesfarmers or any of the “usual suspects.”

We think these 3 shares offer solid growth prospects over the next 12 months. The first two currently offer fat, fully franked yields. The last is a surprising REIT offering you the benefits of being a landlord with none of the hassle! You’ll discover all three names and codes in "The Motley Fool’s Top 3 Dividend Shares for 2019."

Even better, your copy is free when you click the link below. Fair warning: This report is brand new and may not be available forever. Click the link below to be among the first investors to get access to this timely, important new research!

The names of these top 3 dividend bets are all included. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies move – we may be forced to remove this report.

Click here to claim your free copy right now!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Nearmap 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.

One ASX Stock For An Estimated $US22 Billion Marijuana Market

A little-known ASX company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.

And make no mistake – it is coming. To the tune of an estimated $US22 billion.

Cannabis legalisation is sweeping over North America, and full legalisation arrived in Canada in October 2018.

Here’s the best part: we think there’s one ASX stock that’s uniquely positioned to profit immensely from this explosive new industry… taking savvy investors along for what could be one heck of a ride.

AND, this is the first time The Motley Fool Australia has EVER put a BUY recommendation on a marijuana stock.

Simply click below to learn more on how you can profit from the coming cannabis boom.

Click here to find out more