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Why Bubs, HUB24, Splitit, & St Barbara shares charged higher today

In afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to start the week on a disappointing note. At the time of writing the index is down 0.35% to 6,182.7 points.

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

The Bubs Australia Ltd (ASX: BUB) share price has continued its positive run and is up a further 3.5% to 73 cents. Investors have been fighting to get hold of the goat milk infant formula company’s shares 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’ products in the massive China market.

The Hub24 Ltd (ASX: HUB) share price has also continued its strong run and is up 6% to $13.81. The investment platform provider’s shares have rallied strongly since the end of last week when S&P Dow Jones Indices announced that it would be added to the ASX 200 at the next quarterly rebalance later this month.

The Splitit Ltd (ASX: SPT) share price has zoomed higher once again and is up 22.5% to $1.92. This latest gain means the payments company’s shares have now surged an incredible 860% since hitting the ASX boards at the end of January at 20 cents per share. It appears as though investors have been fighting to get hold of its shares on the belief that it could be the next Afterpay Touch Group Ltd (ASX: APT).

The St Barbara Limited (ASX: SBM) shares has jumped 4.5% to $4.36 after the gold price finished the week on a high. The spot gold price rose 1% to US$1,298.60 an ounce on Friday after the U.S. dollar weakened following the release of disappointing employment data in the United States. The S&P/ASX All Ords Gold index is up 3.1% this afternoon.

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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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