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Why Afterpay, Alkane, ALS, & Woodside shares are storming higher

asx shares higher

It has been a fantastic start to the week for the S&P/ASX 200 Index (ASX: XJO). In late morning trade the benchmark index is up 1.7% to 6,823.5 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:

Afterpay Ltd (ASX: APT)

The Afterpay share price is up over 3% to $119.06. Investors have been buying Afterpay and other tech shares on Monday following a strong night of trade on the tech-heavy Nasdaq index on Friday. The buying has been so strong that the S&P/ASX All Technology Index (ASX: XTX) is up a sizeable 1.9% at the time of writing.

Alkane Resources Limited (ASX: ALK)

The Alkane Resources share price has climbed 3% to 70 cents. This morning the gold-focused mineral exploration company revealed positive drilling results from its Northern Molong Porphyry Project. Management commented: “These results give us added confidence to pursue our drilling campaign as we seek to identify what could potentially be a series of substantial deposits across our Northern Molong Porphory Project.”

ALS Ltd (ASX: ALQ)

The ALS share price is up over 3% to $9.79 after announcing a new acquisition. This morning the testing services company announced that it has acquired Investiga for an undisclosed fee. Investiga is a pharmaceutical testing business with operations in Brazil and the east coast of the United States. It currently has 360 employees and generated A$20 million of revenue in FY 2020.

Woodside Petroleum Limited (ASX: WPL)

The Woodside share price has risen 2.5% to $26.10. There appear to be a couple of catalysts for this solid gain. One is another rise in oil prices on Friday night and the other is a broker note out of Ord Minnett. In respect to the latter, this morning the broker upgraded Woodside’s shares to a buy rating with a $29.05 price target.

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 February 15th 2021

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 AFTERPAY T FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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