The Motley Fool

Why Afterpay, People Infrastructure, Resolute Mining, & Sydney Airport stormed higher

The S&P/ASX 200 is on course to continue its solid run on Thursday. In afternoon trade the benchmark index is up 0.3% to 6,665.8 points.

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

The Afterpay Touch Group Ltd (ASX: APT) share price has continued its recovery and is up over 5% to $23.22. Once again, it appears as though bargain hunters have taken advantage of the recent selloff to pick up shares. The payments company’s shares have come under pressure this month after it revealed that AUSTRAC has ordered an audit of its compliance with money laundering and terrorism-financing laws.

The People Infrastructure Ltd (ASX: PPE) share price has jumped 5.5% to $3.31 a day after the technology-enabled workforce management company entered into agreements to acquire Queensland-based healthcare staffing agencies First Choice Care and Carestaff Nursing Services. One broker that was pleased with the deal was Ord Minnett. This morning it retained its buy rating and lifted the price target on its shares to $3.50.

The Resolute Mining Limited (ASX: RSG) share price has stormed 8% higher to $1.17 after the gold price raced higher overnight. The catalyst for the precious metal’s solid gain was the U.S. Federal Reserve conceding that a rate cut may be necessary in the near term. Resolute isn’t the only gold miner on the rise today. The S&P/ASX All Ords Gold index is up an incredible 4.7% at the time of writing.

The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price has risen almost 3% to a 52-week high of $8.15 following the release of traffic figures for the month of May which revealed an increase in both domestic and international passengers. According to the release, the total number of passengers that travelled through Sydney Airport last month grew by 2.4% compared to the prior corresponding period to just over 3.5 million.

Missed these gains? Then don't miss this growth share that has been tipped as a market beater.

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.

Simply click below to learn more on how you can profit from the coming cannabis boom.

Click here to find out more

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Sydney Airport Holdings Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended People Infrastructure 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.

FREE REPORT: Five Cheap and Good Stocks to Buy now…

Our Motley Fool experts have FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.7% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.