Why Afterpay, Betmakers, Bubs, & Starpharma shares are racing higher

These ASX shares are ending the week on a positive note…

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The S&P/ASX 200 Index (ASX: XJO) is back on form on Friday and on course to end the week on a positive note. At the time of writing, the benchmark index is up 0.3% to 7,382 points

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

Afterpay Ltd (ASX: APT)

The Afterpay share price has risen 5% to $112.89. Investors have been buying Afterpay and other tech shares on Friday after rotating out of value stocks and back into growth. In addition to this, a positive broker note out of Morgan Stanley this morning appears to have given its shares a boost. The broker has retained its overweight rating and $145.00 price target its shares.

Betmakers Technology Group Ltd (ASX: BET)

The Betmakers share price has jumped 11% to $1.20. This morning the betting technology company announced the completion of its acquisition of UK-based Sportech’s racing, tote and digital businesses. The $56.2 million acquisition includes three of Sportech’s betting solutions businesses across the Americas, the United Kingdom and Europe, and its world-leading tote betting engine. Betmakers believes the acquisition will materially expand its global customer base, technology, and geographic reach.

Bubs Australia Ltd (ASX: BUB)

The Bubs share price has rocketed 28% higher to 48 cents. Investors have been buying the goat milk infant formula company’s shares after it announced its expansion into the United States via the Walmart website. While this has the potential to be a big positive, it is worth noting that this isn’t necessarily an agreement with the retail giant. Rather, any business has the ability to request to sell via Walmart’s online marketplace and Bubs was merely granted acceptance.

Starpharma Holdings Limited (ASX: SPL)

The Starpharma share price is up 8% to $1.68. This morning the dendrimer products developer provided an update on its COVID-fighting Viraleze antiviral nasal spray. It revealed that new data demonstrates that the active ingredient in the Viraleze antiviral nasal spray, SPL7013, has been shown to be highly effective against a number of COVID-19 variants.

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James Mickleboro doesn’t own any shares mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Betmakers Technology Group Ltd, and Starpharma Holdings Limited. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia has recommended BUBS AUST FPO, Betmakers Technology Group Ltd, and Starpharma Holdings 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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