It was another big day of ASX 200 trade on Tuesday as the S&P/ASX 200 Index (INDEXASX: XJO) added 47.40 points (+0.70%) to finish at 6,814.20 points.
There were a number of announcements and events as some of the biggest names on the ASX climbed higher (and lower).
Here are 3 things you may have missed on another huge day of domestic trade on Tuesday.
1. a2 Milk shares rocketed higher yesterday
a2 Milk expects to deliver first-half revenue of NZ$780 million to NZ$800 million in 1H 2020. This represents significant year-on-year (YoY) growth for the New Zealand dairy group in FY 2020.
China was the key driver once again, while the company’s Fresh Milk segment is also growing nicely.
The a2 Milk share price surged higher following the news as investors bought up on the dairy stock.
2. WiseTech shares crashed out on the ASX 200 on Tuesday
While a2 Milk shares climbed higher, the WiseTech Global Ltd (ASX: WTC) share price wasn’t so lucky.
WiseTech shares crashed lower on the ASX 200 on Tuesday and finished down 7.69% at $26.65 per share.
The company’s annual general meeting (AGM) confirmation of its FY 2020 guidance was the big catalyst that sent WiseTech shares tumbling lower yesterday.
The company’s battles with short-seller J Capital also raged on, this time via Twitter, as investors headed for the exit.
WiseTech shares also trade at a lofty valuation, which is based on significant growth expectations for the Aussie logistics software group.
3. Kogan’s AGM caused its share price to plummet
It wasn’t a good day for companies holding AGMs as the Kogan.com Ltd (ASX: KGN) also fell lower yesterday.
Kogan shares crashed 6.59% to $7.09 on the ASX 200 on Tuesday despite earlier reaching a 52-week high of $7.92 per share.
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Motley Fool contributor Kenneth Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of A2 Milk and WiseTech Global. 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.
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