The S&P/ASX 200 index has given back yesterday's gain and dropped notably lower on Wednesday. In afternoon trade the benchmark index is down a disappointing 0.8% to 6,433.9 points.
Four shares that have not let that hold them back today are listed below. Here's why they have stormed higher:
The BrainChip Holdings Ltd (ASX: BRN) share price has rocketed 50% higher to 6.6 cents following the release of an update after the market close on Tuesday. According to the release, the company has made its Akida Neural Processing Core (NPC) available for licensing. The Akida NPC is a first of its kind solution for ASIC integration and provides unprecedented performance, configurability, low power and small size. The need for a low power, high performance neural network to incorporate artificial intelligence into ASICs is a pressing concern for suppliers.
The Domain Holdings Australia Ltd (ASX: DHG) share price has risen 3% to $3.40 after JP Morgan tipped the Reserve Bank to reduce rates to 0.5% within 12 months. This has led to a number of shares with exposure to the housing market pushing higher today. Investors appear to believe a series of rate cuts would bolster house prices.
The Jumbo Interactive Ltd (ASX: JIN) share price has climbed 4% to $18.34 despite there being no news out of the lottery ticket seller. Investors have been fighting to get hold of its shares this year following a stellar half year result. In addition to this, last month Morgan Stanley retained its overweight rating and slapped a $20.00 price target on its shares. This latest gain means its shares are up 150% in 2019.
The Lynas Corporation Ltd (ASX: LYC) share price has continued its stellar run and is up a further 12% to $2.68. Investors have been buying the rare earths producer's shares after China's state planning agency suggested that it could block rare earths exports to the United States.
