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Why Hub24, Sezzle, Telix, and Westpac shares are rising
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James Mickleboro is an investment writer and analyst who has worked with The Motley Fool Australia for 10 years, covering ASX shares, market news, broker research, dividends, growth stocks, and long-term investing ideas.
Over that time, James has written extensively about Australian equities and developed a particular focus on helping everyday investors understand the stories behind share price moves, company announcements, broker views, and broader market trends.
His best investment recommendation was identifying Afterpay while it was still a small-cap growth share, before its rise into one of Australia’s biggest technology success stories. His worst investment lesson came from CSL Ltd (ASX: CSL), where he was burnt by believing management could turn the business around sooner than the market ultimately allowed.
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LinkedInFavorite Investment Quote
"It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price."
— Warren Buffett
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The S&P/ASX 200 Index (ASX: XJO) is back on form on Tuesday. In afternoon trade, the benchmark index is up 1.3% to 6,749.4 points.
Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:
The Hub24 share price is up 14% to $25.20. Investors have been buying this investment platform provider's shares following the release of its quarterly update. According to the release, Hub24 recorded platform net inflows of $3 billion for the three months. This took its total funds under administration to $52.4 billion. This was driven by continued growth in the number of advisers on its platform.
The Sezzle share price is up over 7% to 51 cents. This morning the buy now pay later (BNPL) provider announced that it has entered into a new $100 million credit facility. Management notes that the facility provides Sezzle with greater capacity, improved flexibility, and extends its funding into 2024.
The Telix share price is up 9% to $6.09. Investors have been buying this biopharmaceuticals company's shares after it released promising preliminary data from two separate investigator-initiated studies. These studies were for TLX250-CDx in triple negative breast cancer and non-muscle invasive bladder cancer.
The Westpac share price is up almost 2% to $23.87. This morning Westpac confirmed that it is interested in acquiring payments processor Tyro Payments Ltd (ASX: TYR). The banking giant believes that acquiring Tyro would boost its small business offering. Though, it has warned that there's no guarantee that a deal will be reached.
