Why Afterpay, AnteoTech, Cettire, & Vulcan shares are storming higher

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

| More on:
share price rise

Image source: Getty Images

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week deep in the red. At the time of writing, the benchmark index is down 0.8% to 7,400.6 points.

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

Afterpay Ltd (ASX: APT)

The Afterpay share price is up 3.5% to $127.92. This follows a strong night of trade for the Square share price on the Nasdaq and the strengthening of the US dollar. As Afterpay is being acquired by Square in an all-scrip deal, any movements in the Square share price has an impact on the takeover price. It is the same also for the US dollar.

Anteotech Ltd (ASX: ADO)

The Anteotech share price has continued its strong run and is up a further 17% to 27.5 cents. Investors have been buying the surface chemistry company’s shares this week after it announced a distribution agreement with Ramma Dental. This is for the distribution of the EuGeni Reader platform and SARS-CoV-2 Antigen Rapid Diagnostic Test in Greece and Cyprus. Investors appear to be pricing in significant sales already.

Cettire Ltd (ASX: CTT)

The Cettire share price has jumped 15% to $3.66. This latest gain means the luxury goods ecommerce company’s shares are now up almost 650% since the start of the year. Overnight the US reported stronger than expected retail sales data. Investors may believe this bodes well for Cettire’s performance in FY 2022.

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan share price is up 3% to $15.10. This appears to have been driven by bargain hunters swooping in after a sharp pullback on Thursday. The clean lithium company’s shares crashed lower after announcing firm commitments for a $200 million institutional placement. These funds were raised at $13.50 per new share, which represented a discount of 15% to the Vulcan share price at the time.

Wondering where you should 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 could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

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. owns shares of and has recommended AFTERPAY T FPO and Cettire Limited. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia has recommended Cettire Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Gainers