Why Airtasker, Betmakers, Kogan, & Telix shares are charging higher

Airtasker Ltd (ASX:ART) and Kogan.com Ltd (ASX:KGN) shares are two of four charging notably higher on Tuesday…

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is pushing higher. At the time of writing, the benchmark index is up 0.5% to 7,082.4 points.

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

Airtasker Ltd (ASX: ART)

The Airtasker share price has returned from its trading halt and jumped 12% to $1.21. This morning the online marketplace for local services announced the successful completion of a private placement to raise $20.7 million. These funds will be used partly to expand into the US market through the acquisition of US-based local services marketplace Zaarly. Some of the proceeds will support its UK expansion as well.

Betmakers Technology Group Ltd (ASX: BET)

The Betmakers share price has risen 4% to $1.54. This has been driven by speculation that the betting technology company is planning a major acquisition. The Australian is reporting that Betmakers is interested in acquiring Tabcorp Holdings Limited (ASX: TAH). The transaction could unlock $5 billion in value for shareholders in the combined entity according to the report. 

Kogan.com Ltd (ASX: KGN)

The Kogan share price has continued its rebound and is up a further 6% to $10.55. Investors have been snapping up the ecommerce company’s shares following another sizeable decline last week after the release of a disappointing trading update. The Kogan share price is now up over 20% from the 52-week low it set on Friday.

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix share price has jumped 10% to $4.41. The catalyst for this was the release of an update on its bone marrow conditioning investigational candidate TLX66. According to the release, TLX66 has met study objectives, demonstrating the initial safety profile in patients with Systemic Amyloid Light Chain Amyloidosis.

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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 Betmakers Technology Group Ltd and Kogan.com ltd. The Motley Fool Australia has recommended Betmakers Technology Group Ltd and Kogan.com ltd. 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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