The S&P/ASX 200 Index (ASX: XJO) is having a subdued start to the week. In afternoon trade, the benchmark index is down 0.1% to 6,733.2 points.
Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:
Lake Resources N.L. (ASX: LKE)
The Lake Resources share price is up a massive 11% to $1.03. This morning this lithium developer provided an update on the progress of its pilot plant at the Kachi Lithium Project in Argentina. Lake revealed that it expects to begin wet commissioning of the plant on Thursday. Once wet commissioning is complete, it then expects to begin onsite processing of Kachi brines in the first week of October.
Life360 Inc (ASX: 360)
The Life360 share price is up 6% to $5.64. This is despite the location technology company's shares being kicked out of the ASX 200 index at the quarterly rebalance this morning. Some investors may believe that its shares have been oversold. Especially given that they are down by over 40% even after today's strong gain.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is up 4% to $4.78. This is despite there being no news out of the lithium miner today. However, it is worth noting that a number of lithium shares are pushing higher on Monday. Investors appear to be piling back into the industry following several bad trading sessions last week.
PolyNovo Ltd (ASX: PNV)
The PolyNovo share price is up 8% to $1.47. Investors have been buying this medical device company's shares after it received FDA clearance for NovoSorb MTX. The company describes the MTX product as a major new product innovation for soft tissue regeneration for the management of complex wounds. It is expected to boost the company's total addressable market by $500 million in the United States.
