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Why Amaysim, Evolution, Fluence, & Paradigm shares are pushing higher

The S&P/ASX 200 index is ending the year with a day in the red. In afternoon trade the benchmark index is down a sizeable 1.7% to 6,688.7 points.

Four shares that have not let that hold them back today are listed below. Here’s why they are pushing higher:

The Amaysim Australia Ltd (ASX: AYS) share price is up almost 3% to 37.5 cents. The telco company’s shares are pushing higher despite there being no news out of it today. However, with its shares down heavily this year, some investors may believe they are in the bargain bin. The Amaysim share price is down almost 60% since the start of the year even after today’s gain.

The Evolution Mining Ltd (ASX: EVN) share price has climbed 3% to $3.82. Investors have been buying the gold miners on Tuesday after the mini market meltdown led to increasing demand for safe haven assets. It isn’t only Evolution climbing higher today. The S&P/ASX All Ords Gold index is up a massive 1.9% in afternoon trade.

The Fluence Corporation Ltd (ASX: FLC) share price has pushed 3.5% higher to 42 cents. Investors have been buying Fluence’s shares this week after an announcement relating to its Aspiral product. According to the release, Fluence has secured a follow-on Aspiral order from Aerospace Kaitian Environmental Technology Co with a value of more than US$3 million.

The Paradigm Biopharmaceuticals Ltd (ASX: PAR) share price is up 3% to $2.93 on no news. However, investors may believe that a recent pullback in the biopharmaceutical company’s shares is a buying opportunity. Prior to today, Paradigm’s shares were down 25% since this time last month. That decline appears to have been driven by profit taking after an impressive gain in 2019. Positive trial results have been behind its gains this year.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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