Why Bubs, Karoon Energy, National Veterinary Care, & Nearmap stormed higher

The Bubs Australia Ltd (ASX:BUB) share price and the Nearmap Ltd (ASX:NEA) share price are two of four storming higher on Monday…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 index has started the week in impressive form and is charging higher in afternoon trade. At the time of writing the benchmark index is up 0.5% to 6,830.2 points.

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

The Bubs Australia Ltd (ASX: BUB) share price has charged 5.5% higher to $1.42 following the release of its fourth quarter update. During the quarter the baby food and infant formula company recorded sales of $18.46 million. This was a record figure and helped propel full year gross revenue up to $51.3 million, which was a massive 179% increase on the previous year.

The Karoon Energy Ltd (ASX: KAR) share price has surged 6.5% higher to $1.69 after the energy producer's shares were upgraded by equity analysts at Macquarie. The broker upgraded its shares to an outperform rating and more than doubled its price target to $3.00. It made the move after Karoon Energy announced plans to acquire the Bauna oilfield.

The National Veterinary Care Ltd (ASX: NVL) share price has jumped 6.5% to $2.41 after releasing an acquisition update. According to the update, the company has entered into a binding agreement to acquire a veterinary procurement business. This acquisition expands the veterinary company's capacity, together with its existing management services business United Vets Group, to service a larger share of the ~$3 billion veterinary industry.

The Nearmap Ltd (ASX: NEA) share price has pushed 2.5% higher to $3.35 despite there being no news out of it. The majority of Australia's leading tech shares have stormed higher today following a positive finish to the week on the technology-focused Nasdaq index. This has led to the S&P/ASX 200 Info Tech index racing an impressive 1.8% higher on Monday. The Nasdaq rose after a series of positive updates from popular tech companies such as Alphabet and Twitter. 

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of NATVETCARE FPO. The Motley Fool Australia owns shares of and has recommended Nearmap Ltd. 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.

More on Share Gainers

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

These were the best-performing ASX 200 shares in March

These shares made their shareholders smile in March thanks to some very big gains.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

A young male ASX investor raises his clenched fists in excitement because of rising ASX share prices today
Share Gainers

3 ASX All Ords shares up 50%+ in March

These ASX shares have been on fire this month. But why?

Read more »

Woman looks amazed and shocked as she looks at her laptop.
Share Gainers

Why Mesoblast, Patriot Battery Metals, Sigma, and Zip shares are pushing higher

These shares are having a good session on hump day. But why?

Read more »

Woman looks amazed and shocked as she looks at her laptop.
Consumer Staples & Discretionary Shares

If you'd put $20,000 in this ASX retail stock at the start of 2023, you'd have $134,000 now

This online retailer has executed a remarkable turnaround for its investors.

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was back to earth for ASX shares this Tuesday.

Read more »