Why Alcidion, Jumbo, OM Holdings, & Resolute shares are racing higher

The Jumbo Interactive Ltd (ASX:JIN) share price and the Resolute Mining Limited (ASX:RSG) share price are two of four racing higher on Friday…

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The S&P/ASX 200 index is on course to end the week on a positive note. In afternoon trade the benchmark index is up 0.3% to 6,814.7 points.

Four shares that are climbing more than most today are listed below. Here’s why these shares are racing higher:

The Alcidion Group Ltd (ASX: ALC) share price is up 5.5% to 19.5 cents. This follows an announcement that it has signed an agreement with Dartford and Gravesham NHS Trust to implement the OPENeP Electronic Prescribing and Medications Administration (ePMA) system produced by Better. According to the release, the total value of the contract is £1.02 million (~A$1.9 million) and will be recognised over a period of six years. OPENeP is a comprehensive electronic prescribing and medication management system, constantly improved in collaboration with pharmacists, doctors, and nurses.

The Jumbo Interactive Ltd (ASX: JIN) share price has climbed 5% to $15.46. Bargain hunters appear to be swooping in today after a sharp pullback in its share price. The online lottery ticket seller’s shares were sold off after it provided its first half guidance. Due to its investment in business activities, management expects first half profit growth of just 13%. However, it advised that it expects its margins to return to normal and for its investments to bear fruit in FY 2021. It also reiterated its target of $1 billion in ticket sales on the Jumbo platform by FY 2022. This will be triple what it achieved in FY 2019.

The OM Holdings Limited (ASX: OMH) share price is up over 5% to 51 cents. This morning OM Holdings announced that its OM Manganese business has received approval to recommence in-pit mining operations at the Bootu Creek Manganese Mine. Operations at Bootu Creek were suspended in August following a fatal accident in the Tourag Pit.

The Resolute Mining Limited (ASX: RSG) share price has jumped 7% higher to $1.26. This follows a strong rise in the spot gold price overnight. The gold price climbed a sizeable 0.7% to US$1,515 an ounce during overnight trade amid doubts that a US-China trade deal will be signed. Resolute isn’t the only gold miner pushing higher. The S&P/ASX All Ords Gold index is up 2% in afternoon trade.

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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 and recommends Jumbo Interactive Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Alcidion Group Ltd. The Motley Fool Australia has recommended Alcidion Group Ltd and Jumbo Interactive 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.

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