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Why Afterpay, Altura Mining, Bubs, & Cooper Energy shares surged higher today

The S&P/ASX 200 index is on course to follow the lead of U.S. markets and record a solid gain on Wednesday. At the time of writing the benchmark index is up 0.45% to 6,361.6 points.

Four shares that are climbing more than most today are listed below. Here’s why they have surged higher:

The Afterpay Touch Group Ltd (ASX: APT) share price has raced 7% higher to $23.90 after providing an update on its U.S. operations. According to the release, Afterpay has reached 1.5 million U.S. customers, who can now use the service when shopping at more than 3,300 retailers. In addition to this, over 1,000 further merchants in the U.S. are in the process of integrating the Afterpay platform. The buy now, pay later provider also revealed new partnerships with Levi’s, Ray-Ban, O’Neill, and the category-shaking brand, Tarte Cosmetics.

The Altura Mining Ltd (ASX: AJM) share price is up 5% to 11 cents after the lithium miner provided an update on the performance of its flagship Altura Lithium Project located at Pilgangoora in Western Australia. According to the update, Altura delivered record monthly production of 15,737 wmt in May, representing 86% of planned nameplate capacity.

The Bubs Australia Ltd (ASX: BUB) share price has rebounded 8% higher to $1.10. On Tuesday the Bubs share price fell heavily amid reports that Chinese regulators were aiming to grow the market share of domestic infant formula producers materially. It appears that some investors believe the selloff was overdone and have been snapping up shares today.

The Cooper Energy Ltd (ASX: COE) share price has risen 6% to 53.5 cents after it announced a new gas sales agreement with energy giant AGL Energy Limited (ASX: AGL). According to the release, the company has signed new gas supply agreements with the energy retailer for its Sole (Gippsland Basin) and Casino Henry (Otway Basin) gas operations.

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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. The Motley Fool Australia has recommended BUBS AUST 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.

One ASX Stock For An Estimated $US22 Billion Marijuana Market

A little-known ASX company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.

And make no mistake – it is coming. To the tune of an estimated $US22 billion.

Cannabis legalisation is sweeping over North America, and full legalisation arrived in Canada in October 2018.

Here’s the best part: we think there’s one ASX stock that’s uniquely positioned to profit immensely from this explosive new industry… taking savvy investors along for what could be one heck of a ride.

AND, this is the first time The Motley Fool Australia has EVER put a BUY recommendation on a marijuana stock.

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Click here to find out more