Why Anteotech, Appen, Boral, and Kogan shares are rising today

These ASX shares are rising today…

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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 2.1% to 7,182.8 points.

Four ASX shares that have managed to avoid the selloff and push higher are listed below. Here’s why they are rising today:

Anteotech Ltd (ASX: ADO)

The Anteotech share price is up 3% to 38 cents. This means the medical device company’s shares are up almost 18% in the space of a week. Investors have been buying Anteotech’s shares amid hopes that its rapid antigen test will be approved for sale in Australia in the very near future.

Appen Ltd (ASX: APX)

The Appen share price is up 2% to $10.50. This artificial intelligence data services provider’s shares have been positive performers this week thanks largely to a broker note out of Citi. Its analysts suggested that no trading update was good news for investors and could mean Appen has achieved its guidance in FY 2021. It feels this could make consensus estimates too low.

Boral Limited (ASX: BLD)

The Boral share price is up over 2% to $5.87. This is despite there being no news out of the building materials company today. However, prior to today, its shares had lost around a quarter of their value in the space of six months. This could have led to some bargain hunters picking up shares today.

Kogan.com Ltd (ASX: KGN)

The Kogan share price is up 2% to $7.37. This ecommerce company’s shares are avoiding the market selloff today, potentially due to already being sold off this week. Kogan’s shares have come under pressure amid underwhelming updates from a number of peers. Investors don’t appear to believe this bodes well for its performance during the first half.

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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. owns and has recommended Appen Ltd and Kogan.com ltd. The Motley Fool Australia owns and has recommended Appen Ltd and Kogan.com ltd. 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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