Why Core Lithium, Life360, Marley Spoon, & Metcash are storming higher

It has been a good day for these ASX shares…

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is off its lows but still trading notably lower. At the time of writing, the benchmark index is down 0.5% to 7,267.5 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are storming higher:

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price has risen 2% to 23.5 cents. This morning this lithium explorer revealed that leading global environmental and sustainability consultants ERM Group has completed its Greenhouse Gas Assessment of Finniss Project. According to the release, the study found that the project has lower emissions that its Western Australian peers and the lowest transport-related emissions than any other Australian lithium project.

Life360 Inc (ASX: 360)

The Life360 share price is up 4% to $6.21. Investors have been buying the family app maker’s shares following the release of a broker note out of Morgan Stanley. According to the note, the broker has initiated coverage on Life360 with an overweight rating and $8.60 price target. The broker believes that the market under appreciates the quality of Life360 and its significant user base.

Marley Spoon AG (ASX: MMM)

The Marley Spoon share price has stormed 4.5% higher to $2.95. This is despite there being no news out of the meal kit delivery company. However, with lockdowns occurring in Australia, investors may believe that demand for its meal kits will surge again.

Metcash Limited (ASX: MTS)

The Metcash share price has pushed 3% higher to $3.80. Investors have been buying the wholesale distributor’s shares after brokers responded positively to its full year results release. Credit Suisse and Morgan Stanley were among the most positive brokers. They have retained their equivalent of buy ratings and lifted their price targets to $4.16 and $4.15, respectively.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Life360, Inc. The Motley Fool Australia has recommended Marley Spoon AG. 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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