In afternoon trade the S&P/ASX 200 Index is on course to post a disappointing decline. At the time of writing the benchmark index is down 0.3% to 6,207.4 points.
Four shares that have not let that hold them back today are listed below. Here's why they have climbed higher:
The AVITA Medical Ltd (ASX: AVH) share price has rebounded from a sharp decline on Wednesday and is up 10.5% to 36.5 cents in afternoon trade. Investors appear undecided on whether or not the global regenerative medicine company is deserving of its premium valuation despite sales revenue of just $1.8 million in the first half. Earlier this week the AVITA market capitalisation neared an enormous $900 million.
The Crown Resorts Ltd (ASX: CWN) share price is up 2% to $13.01 amid speculation that Wynn Resorts may come back for a second bite. On Wednesday the U.S. giant pulled the plug on takeover talks after the details leaked out to the media. According to a note out of Deutsche Bank, it believes Wynn Resorts could be back in the near future and that Crown's major shareholders could be tempted to sell at the right price.
The iSignthis Ltd (ASX: ISX) share price has stormed 10% higher to 39.5 cents. On Wednesday the RegTech company provided an update on its Australian card processing facilities. According to the release, its ISXPay business has entered into more than 10 payment facilitation agreements for processing of cards with merchants who are holders of Australian Financial Service Licenses.
The Jumbo Interactive Ltd (ASX: JIN) share price has climbed 2% to $16.96. At one stage today the lottery ticket seller's shares hit an all-time high of $16.99. One broker that thinks they can still go higher is Morgan Stanley. A note out of the investment bank this morning reveals that its analysts have retained their overweight rating and $20.00 price target. The broker believes the company's software as a service business has a major opportunity in the U.S. market.
