The S&P/ASX 200 index has started the week on a very positive note. In afternoon trade the benchmark index is up 0.5% to 6,549.6 points.
Four shares that have climbed more than most today are listed below. Here’s why they have stormed higher:
The Kogan.com Ltd (ASX: KGN) share price has jumped 5% to $6.63 despite there being no news out of the fast growing ecommerce company. This gain could be a delayed reaction to Kogan’s launch of a credit card late last week. The Kogan Money Black Card has no annual fee and provides 1 reward point per $1 spent on eligible purchases.
The St Barbara Ltd (ASX: SBM) share price has risen 4% to $2.86. This morning its joint venture partner, gold explorer Alice Queen Limited (ASX: AQX), announced that it has completed a soil and rock chip geochemical sampling program across its Horn Island project. The results of the assays are due to be released in the next few weeks, but it appears that some investors are optimistic that they will be strong.
The Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) share price has surged over 6% to $22.13 despite there being no news out of investment house. However, prior to today its shares were down by over 34% from their 52-week high. Some investors may believe they have been oversold and are now in the buy zone.
The WiseTech Global Ltd (ASX: WTC) share price has raced 4% higher to $34.91. Investors have been buying WiseTech Global and a number of other popular tech shares today after a positive finish to the week by the Nasdaq index on Friday. The technology-focused index finished the week with a 1.4% gain. The local tech sector has followed its lead today, with the S&P/ASX 200 Info Tech up by a sizeable 1.5% this afternoon.
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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 WiseTech Global. The Motley Fool Australia owns shares of and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Kogan.com 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.