Why Block, Core Lithium, Liontown, and Qube shares are rising

These ASX shares are starting the week strongly…

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has given back its morning gains and dropped into the red. At the time of writing, the benchmark index is down slightly to 7,291.5 points.

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

Block Inc (ASX: SQ2)

The Block share price is up 9% to $184.25. At one stage today, the payments giant’s shares jumped 11% to reach their highest level since listing on the Australian share market. It also meant that Block’s shares were up a whopping 60% in less than a month. This follows a strong night of trade for its NYSE shares on Friday night.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 8% to $1.22. A number of lithium shares are hurtling higher today amid bullish sentiment in the sector. Core Lithium, which recently signed a supply agreement with Tesla, saw its shares hit a record high this morning.

Liontown Resources Limited (ASX: LTR)

The Liontown share price is up 6% to $1.76. This morning the lithium developer advised that it has received all assays from the recently completed drilling campaign at the Buldania Lithium Project in Western Australia. Liontown revealed that results included shallow extensions to the Anna deposit as well as regional geochemical/geological targets within the Northwest prospect.

Qube Holdings Ltd (ASX: QUB)

The Qube share price is up almost 1.5% to $3.05. Investors have been buying this logistics facilities company’s shares after it announced a $400 million off market share buyback. Qube decided to undertake a share buyback following a strong performance during the first half and the completion of the Moorebank Logistics Park transaction.

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 Block, Inc. The Motley Fool Australia owns and has recommended Block, Inc. 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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