Why AusCann, Bubs, Emeco, & Monadelphous shares are pushing higher

The AusCann Group Holdings Ltd (ASX:AC8) share price and the Bubs Australia Ltd (ASX:BUB) share price are two of four pushing higher on Tuesday…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

In afternoon trade the S&P/ASX 200 index is on course to finish the day in the red. At the time of writing the benchmark index is down 0.2% to 7,110.4 points.

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

The AusCann Group Holdings Ltd (ASX: AC8) share price has jumped 11% to 30 cents. Investors have been buying the cannabis company's shares after it announced that it has completed the manufacturing and testing of its proprietary low-dose cannabinoid-based hard-shell capsules. It is aiming to have these capsules ready for physicians to prescribe in Australia during the first half of 2020.

The Bubs Australia Ltd (ASX: BUB) share price has surged 13% higher to 79.2 cents. This morning the infant formula and baby products company announced that certain Woolworths Group Ltd (ASX: WOW) supermarkets would be stocking its full range of eight infant formula products. The new agreement will have the effect of more than doubling its shelf space exposure and retail points of distribution across the Australian grocery retail sector.

The Emeco Holdings Limited (ASX: EHL) share price has risen 7% to $2.25. This follows the release of the equipment rental company's half year results. For the first half of FY 2020, Emeco reported a 33% increase in operating NPAT to $42.1 million. Management appears positive on the second half. Stating: "We are excited by the significant opportunities to further grow our evolving business in 2H20 and beyond."

The Monadelphous Group Limited (ASX: MND) share price has climbed 4.5% to $17.11. This morning the engineering company released its half year results and revealed a net profit after tax of $28.5 million. Whilst this was down 7.4% on the prior corresponding period, it was in line with expectations. Looking ahead, management said: "Favourable market conditions over coming years are expected to provide a solid pipeline of opportunities within the resources and energy sectors."

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

More on Share Gainers

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

These were the best-performing ASX 200 shares in March

These shares made their shareholders smile in March thanks to some very big gains.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

A young male ASX investor raises his clenched fists in excitement because of rising ASX share prices today
Share Gainers

3 ASX All Ords shares up 50%+ in March

These ASX shares have been on fire this month. But why?

Read more »

Woman looks amazed and shocked as she looks at her laptop.
Share Gainers

Why Mesoblast, Patriot Battery Metals, Sigma, and Zip shares are pushing higher

These shares are having a good session on hump day. But why?

Read more »

Woman looks amazed and shocked as she looks at her laptop.
Consumer Staples & Discretionary Shares

If you'd put $20,000 in this ASX retail stock at the start of 2023, you'd have $134,000 now

This online retailer has executed a remarkable turnaround for its investors.

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was back to earth for ASX shares this Tuesday.

Read more »