In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) looks set to finish the week with a disappointing day in the red. At the time of writing the benchmark index is down just over 0.8% to 6,212.2 points.
Four shares that have not let that hold them back today are listed below. Here’s why they are ending the week with a bang:
The Bubs Australia Ltd (ASX: BUB) share price is up 5.5% to 74 cents. The goat milk infant formula company’s shares have been strong performers this week after it announced a potential joint venture with Beingmate Baby & Child Food Co. in Shanghai. If the joint venture goes ahead it will distribute and promote Bubs infant formula and organic baby food products in the massive China market.
The Hub24 Ltd (ASX: HUB) share price has climbed 3.5% to $13.13 after S&P Dow Jones Indices announced that the investment platform provider would be added to the ASX 200 at the next quarterly rebalance. It will replace struggling auto retailer Automotive Holdings Group Ltd (ASX: AHG) which will be removed from the index on March 18.
The OceanaGold Corp (ASX: OGC) share price has surged 7.5% higher to $4.63 thanks to increased demand for risk off assets. Overnight the European Central Bank spooked markets after it downgraded its growth forecasts and warned about the risk of protectionism. The S&P/ASX All Ords Gold index is up 0.5% at the time of writing.
The Splitit Ltd (ASX: SPT) share price has continued its incredible run and is up a further 14% to $1.53 on Friday afternoon. The payments company’s shares have now rallied a devilish 666% since hitting the ASX boards at the end of January. Investors have been buying its shares on the belief that it could be the next Afterpay Touch Group Ltd (ASX: APT).
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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