These 3 ASX shares all posted massive gains today

It was a flat day for the ASX today but these three ASX shares all posted massive gains. We take a look at what each company has been up to.

Gretchen Kennedy

Gretchen grew up in a small Connecticut town where she learned to read The Wall Street Journal as part of the grade six enrichment program. She moved to Australia in 2002, earned a Master of Arts (Professional Writing) and went on to spend eight years writing on Wall Street. In June 2018, Gretchen returned to Australia and has since developed a keen interest in all things ASX. In December 2020, she started writing for the Motley Fool. Gretchen's usually writing something, reading a book or chasing her dogs around.

Published January 12, 2021 4:56 pm AEDT

It was an unimpressive day for the ASX today with the All Ordinaries Index (ASX: XAO) sagging 0.2% at the market's close.

Regardless of this lacklustre result, these three ASX shares each had a ripper session, with their share prices all vaulting higher than 9%.

A man holds up his hand with 3 fingers up — Image source: Getty Images

Australian Strategic Materials (ASX: ASM)

Australian Strategic Materials finished the day a massive 15.6% higher to close at $5.47.

The company's cornerstone Dubbo Project is a long-term, sustainable and secure source of rare earths, zirconium, niobium and hafnium. Products requiring these materials include electric vehicles, medical imaging technology, along with wind turbines and control systems for solar panel arrays and robotics. Subject to financing, the Dubbo Project is ready for construction.

According to the company's latest presentation, Australia Strategic Materials is currently focussing on objectives that include complete optimisation and financing progression for the Dubbo Project.

Avita Medical Inc. (ASX: AVH)

The Avita Medical share price closed 15.3% higher at $5.59. The company's share price first started climbing today after it reported a 57% increase in revenue via its preliminary fiscal second-quarter results.

The Avita RECELL technology that's presently in development will be used to treat acute thermal burn wounds. The company recently enrolled nine additional patients in an important study that's further assessing the use of the RECELL system to treat stable vitiligo. Furthermore, Avita added seven new accounts in the second quarter of 2021 bringing its current accounts total to 93.

Novonix Ltd (ASX: NVX)

The Novonix share price powered up 9.4% today to finish off at $1.68. Novonix is a Brisbane-based company with its sights set on improving batteries for electric vehicles, phones, laptops, cordless equipment and renewable energy storage.

In its latest corporate update, Novonix provided details associated with the company's planned delivery schedule for the contract to supply Samsung SDI with 500 tons of PUREgraphite synthetic anode material for use in lithium-ion batteries.

Novonix is an integrated developer and supplier of high-performance materials, equipment and services for the global lithium-ion battery industry with operations in the USA and Canada and sales in more than 14 countries.

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