The S&P/ASX 200 index is on course to finish the day lower for second day in a row. In afternoon trade the benchmark index is down 0.7% to 6,642.5 points.
Four shares that have not let that hold them back today are listed below. Here’s why they are pushing higher:
The Bigtincan Holdings Ltd (ASX: BTH) share price has jumped 9.5% to 65.2 cents. This morning the AI-powered sales enablement automation platform provider released its first quarter update. Bigtincan reported customer cash receipts of $5.3 million, up 56% on the prior corresponding period. The company also revealed that it has signed a reseller agreement with NTT DOCOMO. This agreement will see NTT DOCOMO sell Bigtincan SaaS solutions to its enterprise customers in Japan.
The Iluka Resources Limited (ASX: ILU) share price has raced 5% higher to $9.26. Investors have been buying the mineral sands producer’s shares following the release of its quarterly update. This morning Iluka revealed a solid increase in production during the September quarter. It also announced a review of its business that could potentially mean the divestment of its Mining Area C royalty business.
The Redbubble Ltd (ASX: RBL) share price has stormed almost 5% higher to $1.94 after Goldman Sachs responded positively to the ecommerce company’s recent update. According to the note, the broker has increased its forecasts for the medium term due to higher gross margins and lower paid acquisition expenses. This has led to Goldman lifting its price target on Redbubble’s shares by 24% to $2.05.
The St Barbara Ltd (ASX: SBM) share price has pushed 3.5% higher to $2.81. Investors have been buying the gold miners today after the price of the precious metal climbed higher overnight. The catalyst for this was the U.S. Federal Reserve cutting rates by 25 basis points. The S&P/ASX All Ords Gold index is up 0.65% at the time of writing.
5 stocks under $5
We hear it over and over from investors, "I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I'd be sitting on a gold mine!" And it's true.
And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!
*Extreme Opportunities returns as of June 5th 2020
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended BIGTINCAN FPO. The Motley Fool Australia has recommended REDBUBBLE 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.
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