Why Anteotech, Brainchip, RAIZ, and Santos shares are pushing higher

These ASX shares are on form on Wednesday…

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The S&P/ASX 200 Index (ASX: XJO) looks set to record its first decline of the year today. In afternoon trade, the benchmark index is down 0.3% to 7,565.7 points.

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

Anteotech Ltd (ASX: ADO)

The Anteotech share price is up 5.5% to 29 cents. This appears to have been driven by optimism that this surface chemistry company will benefit greatly from demand for COVID-19 rapid antigen tests. Late last year the company completed its TGA submission for the EuGeni Reader and SARS-CoV-2 Ag Rapid Diagnostic Test. However, it is worth noting that it is still waiting for approval in Australia.

Brainchip Holdings Ltd (ASX: BRN)

The Brainchip share price has continued its rise and is up a further 23% to 96.5 cents. Investors have been buying the artificial intelligence technology company’s shares this week following reports that Mercedes has included Brainchip’s Akida chip in its Vision EQXX electric concept car. The chip is reportedly being used to power its “Hey Mercedes” smart assistant feature.

RAIZ Invest Ltd (ASX: RZI)

The RAIZ Invest share price is up 2% to $1.79 following the release of its monthly update. That update revealed that the micro-investing platform provider’s active customers increased 3.3% globally to 594,992 during December. Though, taking some of the shine off the news was a decline in Australian active customers.

Santos Ltd (ASX: STO)

The Santos share price is up 2.5% to $6.76. Investors have been buying this energy producer’s shares after oil prices rose overnight. Prices pushed higher despite OPEC revealing that it will go ahead with its plan to raise its output target by 400,000 barrels per day next month. The Santos share price is now up 10% in the space of two weeks.

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 no position in any of the stocks mentioned. 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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