Why Corp Travel Management, Imugene, MoneyMe, & Syrah are pushing higher

Corporate Travel Management Ltd (ASX:CTD) and MoneyMe Ltd (ASX:MME) are two of four ASX shares pushing higher today…

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. At the time of writing, the benchmark index is down 1.3% to 6,924.2 points.

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

Corporate Travel Management Ltd (ASX: CTD)

The Corporate Travel Management share price is up 2.5% to $19.51. Investors have been buying the corporate travel specialist’s shares after it revealed that it expects to be profitable in the fourth quarter of FY 2021. This follows a breakeven month in March after the company experienced an uptick in demand for corporate travel services.

Imugene Limited (ASX: IMU)

The Imugene share price is up almost 4% to 19 cents. The catalyst for this is news that Imugene has met its second clinical endpoint for the HER-Vaxx’s clinical studies. HER-Vaxx is an immunotherapy that is aiming to treat tumours that over-express the HER-2/neu receptor. This includes gastric, breast, ovarian, lung and pancreatic cancers.

MoneyMe Ltd (ASX: MME)

The MoneyMe share price is up 3.5% to $1.49. Investors have been buying the the digital credit company’s shares after it announced a new product launch. According to the release, MoneyMe has unveiled Autopay, a secured vehicle finance solution for dealers and major growth innovation. Management believes that the product will transform the $12 billion automotive finance industry.

Syrah Resources Ltd (ASX: SYR)

The Syrah share price is up 4% to $1.10. This follows the release of the graphite producer’s third quarter update this morning. Syrah noted that there is strong demand growth for natural graphite end uses. This is being driven by electric vehicle (EV) adoption. It points out that EV sales are up 140% in during the first quarter compared to a year ago.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. 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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