The S&P/ASX 200 index has given back its morning gains and edged lower in afternoon trade. At the time of writing the benchmark index is down by 3.3 points to 6,253.1 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 9.5% to 86.5 cents after the goat milk infant formula company signed a binding heads of agreement with the Chemist Warehouse Retail Group to form a four year strategic alliance relating to the sale and promotion of its products in Chemist Warehouse stores. The agreement is due to commence on June 1 and will see Bubs products sold across Chemist Warehouse retail stores throughout Australia, including its domestic and Tmall online stores.
The Kogan.com Ltd (ASX: KGN) share price has rocketed 13% higher to $5.11 after the ecommerce company provided a very positive trading update. According to the release, during the third quarter the company delivered a 9.5% increase in revenue and a massive 96.4% lift in EBITDA. In addition to this, the company reported a 23.4% year on year increase in active customers.
The NRW Holdings Limited (ASX: NWH) share price has pushed 6% higher to $2.81 after being chosen as the replacement for Trade Me Group Ltd (ASX: TME) in the S&P/ASX 200 index. Trade Me is being acquired by Titan AcquisitionCo New Zealand Limited and will be removed from the benchmark index on May 3.
The Whitehaven Coal Ltd (ASX: WHC) share price has jumped 6.5% higher to $4.46 after its Winchester South metallurgical coal project was declared a ‘Coordinated Project’ under the State Development and Public Works Organisation Act 1971. Today’s declaration paves the way for whole-of-government assessment of the project by way of an environmental impact statement.
These 3 stocks could be the next big movers in 2020
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BUBS AUST FPO and Kogan.com 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.