Why Afterpay, Genetic Signatures, Qube, & Serko shares are charging higher

Afterpay Ltd (ASX:APT) and Serko Ltd (ASX:SKO) shares are two of four surging higher on Friday. Here's what you need to know…

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In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a disappointing note. At the time of writing the benchmark index is down 0.9% to 5,819.5 points.

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

The Afterpay Ltd (ASX: APT) share price is up 3% to $82.92. Investors have been buying Afterpay and other ASX tech shares on Friday following a positive night of trade on Wall Street's technology-focused Nasdaq index. This has helped drive the S&P/ASX All Technology Index (ASX: XTX) 1.5% higher at the time of writing.

The Genetic Signatures Ltd (ASX: GSS) share price has jumped 12% higher to $1.91. This follows the release of the molecular diagnostics company's first quarter sales update. According to the release, Genetic Signatures' preliminary sales for the quarter ended 30 September 2020 are approximately $10.5 million. This is 50% higher than the previous quarter which ended 30 June 2020.

The Qube Holdings Ltd (ASX: QUB) share price is up 2.5% to $2.63. Investors have been buying Qube's shares after the release of an update on its Moorebank Logistics Park. According to the release, Qube is partnering with Woolworths Group Ltd (ASX: WOW) on two new state-of-the-art facilities in the park. This partnership will see Woolworths become a major tenant at the site in a deal worth $1 billion.

The Serko Ltd (ASX: SKO) share price has jumped almost 7% higher to $4.46. This follows the completion of its upsized institutional placement this morning. According to the release, Serko's NZ$45 million placement was oversubscribed at NZ$4.55 per new share. This resulted in the company deciding to increase the size of the placement to NZ$47.5 million. The placement price is a small premium to its last close price.

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 Serko Ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Serko 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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