Why Brainchip, Pilbara Minerals, Straker, and Whitehaven Coal shares are pushing higher

These ASX shares are on form on Tuesday…

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start 2022 with a strong gain. At the time of writing, the benchmark index is up 1.7% to 7,572.9 points.

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

Brainchip Holdings Ltd (ASX: BRN)

The Brainchip share price is up 18% to a 52-week high of 80.5 cents. This appears to have been driven by reports that Mercedes has included Brainchip’s Akida chip in its Vision EQXX electric concept car. The chip is being used to power its “Hey Mercedes” smart assistant feature.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price has continued its remarkable run and is up a further 8% to $3.45. This is despite there being no news out of the lithium miner. However, the team at Macquarie recently reiterated its outperform rating and lifted its price target to $3.70. This suggests there’s still room for the Pilbara Minerals share price to keep rising.

Straker Translations Ltd (ASX: STG)

The Straker Translations share price is up over 3% to $1.60. This morning the translation technology company announced a binding agreement to acquire IDEST for up to 4.25 million euros. IDEST is based in Brussels, Belgium and is focused on serving international institutions with state-of-the-art, tailor-made translation services.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price is up 6% to $2.77. Investors have been buying Whitehaven Coal and other coal miners after Indonesia banned thermal coal exports. Given that Indonesia is the world’s biggest exporter of thermal coal, there are concerns that supply could be significantly constrained during peak winter demand season. This bodes well for coal prices and Whitehaven Coal.

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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Straker Translations. 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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