The S&P/ASX 200 index has recovered from a spot of late morning weakness and is pushing higher in afternoon trade. At the time of writing the benchmark index is up a solid 0.4% to 6,795.4 points.
Four shares that are climbing more than most today are listed below. Here’s why they are storming higher:
The A2 Milk Company Ltd (ASX: A2M) share price has jumped over 11% higher to $13.37 following the release of its annual general meeting presentation. According to the release, a2 Milk Company expects first half revenue to be in the range of NZ$780 million to NZ$800 million. This represents growth of 27.2% to 30.5% on the prior corresponding period. Another big positive was management revealing that its EBITDA margins will be stronger than forecast in FY 2020.
The Paradigm Biopharmaceuticals Ltd (ASX: PAR) share price has raced 7.5% higher to $3.61. The biopharmaceutical company’s shares have been on fire today despite there being no news out of it. This latest gain means that the Paradigm share price is now up 260% since the start of the year. Investors have been buying its shares due to the enormous promise of its iPPS product.
The Praemium Ltd (ASX: PPS) share price has pushed 4% higher to 59.2 cents. This morning the investment platform provider held its annual general meeting. Although no guidance was provided at the event, management spoke positively about its sizeable market opportunity and the favourable industry tailwinds supporting its growth.
The Regis Resources Limited (ASX: RRL) share price is up 4% to $4.63. Its presentation at the UBS conference yesterday and a rise in the gold price appears to be behind this solid gain. It isn’t just Regis Resources pushing higher today. At the time of writing the S&P/ASX All Ords Gold index is up around 1%.
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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 Praemium Limited. The Motley Fool Australia owns shares of A2 Milk. The Motley Fool Australia has recommended Praemium Limited. 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.