Why Aussie Broadband, BlueBet, Hipages, and JB Hi-Fi shares are rising

These ASX shares are performing strongly today…

| More on:
A man and woman put hands in the air as they dance in front of a green brick wall.

Image source: Getty Images

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has run out of steam and is tumbling lower. At the time of writing, the benchmark index is down 0.4% to 7,417.6 points.

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

Aussie Broadband Ltd (ASX: ABB)

The Aussie Broadband share price is up 5% to $4.80. This follows the release of the telco’s annual general meeting update. Although the update was scant on new information, investors appear to be responding positively to some of management’s comments. One of those was that its fibre build project is going well and is expected to boost margins in FY 2023 onwards.

BlueBet Holdings Ltd (ASX: BBT)

The BlueBet share price has jumped 15% to $1.99 following its first quarter update. For the three months ended 30 September, the sports betting company reported a 63.8% increase in active customers to 39,195. This underpinned a 67.4% jump in turnover to $125.9 million.

Hipages Group Holdings Ltd (ASX: HPG)

The Hipages share price is up 3.5% to $3.78. The catalyst for this was the online tradie marketplace provider’s first quarter update. Despite lockdowns in New South Wales and Victoria, Hipages continued to grow its recurring revenue. It reported a 14% increase in revenue over the prior corresponding period to $14.9 million. Approximately 96% of this revenue is now recurring in nature.

JB Hi-Fi Limited (ASX: JBH)

The JB Hi-Fi share price is up 3% to $48.21. This is despite the release of a first quarter sales update which revealed a decline year on year. For the three months ended 30 September, JB Hi Fi Australia saw a 7.5% decline in sales over the prior corresponding period. It was a similar story for the Good Guys business, which reported a 5.6% decline in sales. The market appears to have been expecting softer sales.

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 over ten 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 January 12th 2022

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 Aussie Broadband Limited and Hipages Group Holdings Ltd. The Motley Fool Australia has recommended Aussie Broadband Limited, BlueBet Holdings Ltd, and Hipages Group Holdings Ltd. 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

Technology Shares

Droneshield share price leaps 10% amid strong Ukrainian demand

The company's anti-drone systems are employed by militaries, law enforcement and private enterprises across the world.

Read more »

A kid and his grandad high five after a fun game of basketball.
Share Gainers

3 ASX All Ordinaries shares hitting multi-year highs on Monday

These names are outpacing major benchmarks today.

Read more »

A graphic showing a businessman running up a white upwards rising arrow symbolising the soaring Magellan share price today
Share Gainers

Why Brambles, Core Lithium, Infomedia, and Qube shares are charging higher

These ASX shares have started the week strongly...

Read more »

A man sits on a couch with his arms out feeling exasperated while looking at the Costa share price going down on his laptop today
Share Gainers

Why is the ASX 200 giving back the morning’s gains on Monday?

Aussie shares are showing mixed results on Monday.

Read more »

Person pointing at an increasing blue graph which represents a rising share price.
Share Gainers

Why is the Nitro Software share price rallying 5%?

Tech shares are showing signs of life again on Monday.

Read more »

A graphic showing a businessman running up a white upwards rising arrow symbolising the soaring Magellan share price today
Share Gainers

Here’s why the Chrysos share price is rebounding 16%

Investors are staging a comeback for the company.

Read more »

A drawing of a rocket follows a chart up, indicating share price lift
Share Gainers

Here’s why the Australian Strategic Materials share price is surging 31% today

The ASX rare earths and critical metals miner has come under selling pressure since hitting record highs in November last…

Read more »

A woman with strawberry blonde hair has a huge smile on her face and fist pumps the air having seen good news on her phone.
Share Gainers

These were the best performers on the ASX 200 last week

These ASX 200 shares avoided the market selloff...

Read more »