The Motley Fool

Why Bellamy’s, Botanix, Objective Corp, & St Barbara shares charged higher today

Although it has fought back from its lows, the S&P/ASX 200 index is still on course to start the week on a disappointing note. At the time of writing the benchmark index is down 0.35% to 6,672.5 points.

Four shares that have not let that hold them back are listed below. Here’s why they have charged higher:

The Bellamy’s Australia Ltd (ASX: BAL) share price has risen over 3% to $9.07 despite there being no news out of the infant formula and baby food company. However, last week a note out of Goldman Sachs revealed that demand for infant formula on Chinese ecommerce platforms was strong during the month of June. Investors may believe that daigou demand for Bellamy’s products has been strong over the period.

The Botanix Pharmaceuticals Ltd (ASX: BOT) share price has zoomed 14% higher to 24 cents after the clinical stage cannabinoid company released new data from studies recently conducted around its cannabidiol antimicrobial platform. According to the release, new data has shown that a new drug candidate from Botanix’s cannabidiol antimicrobial platform has potent activity against hypervirulent strains of the bacteria Clostridium difficile. Clostridium difficile is responsible for over 30,000 deaths and 500,000 infections annually in United States, costing the healthcare system around US$5.2 billion each year.

The Objective Corporation Limited (ASX: OCL) share price has raced over 10% higher to $3.10 following the release of a trading update out of the information and process governance solutions company. According to the update, Objective expects to report a 23% increase in net profit after tax in FY 2019. This has been driven by strong subscription revenue.

The St Barbara Ltd (ASX: SBM) share price has pushed almost 3% higher to $3.21. The gold miner’s shares have lifted with the rest of the gold miners on Monday after the gold price finished the week on a positive note. At the time of writing the the S&P/ASX All Ords Gold index is up almost 1.2%.

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 has recommended Bellamy's Australia. 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.

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new 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 2.8% 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.