In afternoon trade the S&P/ASX 200 index is on course to end the week on a very disappointing note. At the time of writing the benchmark index is down 2.3% to 6,507.7 points.
Four shares that have avoided the selloff are listed below. Here’s why they are pushing higher:
The Amaysim Australia Ltd (ASX: AYS) share price is up over 1.5% to 30 cents. This may be down to bargain hunters buying in after a sizeable decline year to date. One broker that thinks the telco company is a buy is Macquarie. Earlier this week it retained its outperform rating and 64 cents price target on its shares. The broker appears optimistic the company will unlock the strategic value of its 1 million+ subscriber base.
The Freedom Foods Group Ltd (ASX: FNP) share price is up 1% to $4.33 following the release of its half year result after the market close on Thursday. For the first half of FY 2020, the diversified food company delivered net sales of $299.7 million and operating EBDITA of $32.7 million. This represents an increase of 43.4% and 55.6%, respectively, over the prior corresponding period. The latter was driven partly by the widening of its gross margin from 24.7% to 27.1%.
The NEXTDC Ltd (ASX: NXT) share price has jumped 6% to $7.86 following the release of its half year results. For the six months ended December 31, the data centre operator reported revenue of $97.7 million and underlying EBITDA of $50.9 million. This represents an 8% and 21% increase, respectively, over the prior corresponding period. Management has reiterated its guidance for the full year.
The Zoono Group Ltd (ASX: ZNO) share price has surged 20% higher to $1.94. Investors have been buying the biotech company’s shares after it announced successful test results against coronavirus COVID-19. According to the release, the results indicate that Zoono’s Z-71 Microbe Shield is more than 99.99% effective against COVID-19. This microbe shield is the same technology used in its hand sanitiser.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia has recommended Freedom Foods Group 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.
- 3 mid cap ASX shares that could generate strong long term returns – August 11, 2020 6:00pm
- 5 quality ASX shares to buy in August – August 11, 2020 5:05pm
- 3 of the best ETFs for ASX investors to buy right now – August 11, 2020 4:37pm