Why Lake Resources, Platinum, Polynovo, and Volpara shares are charging higher

These ASX shares are charging higher today…

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The S&P/ASX 200 Index (ASX: XJO) is out of form on Tuesday. In afternoon trade, the benchmark index is down 0.3% to 7,130.1 points.

Four ASX shares that aren't letting that hold them back today are listed below. Here's why they are charging higher:

Lake Resources N.L. (ASX: LKE)

The Lake share price is up almost 7% to 88 cents. Investors have been buying this lithium developer's shares after it achieved key milestones at its Kachi project. The release notes that its partner Lilac has successfully operated the Demonstration Plant for 1,000 consecutive hours and produced 40,000 litres of lithium chloride eluate before 31 December. It is now being shipped to Saltworks to be converted into lithium carbonate. After which, it will be independently tested for purity.

Platinum Asset Management Ltd (ASX: PTM)

The Platinum share price is up 5% to $2.03. This follows the release of the fund manager's latest funds under management (FUM) update. According to the release, Platinum's FUM dropped by $10 million in December to $18,165 million. Investors may have been expecting a much weaker performance from Platinum.

Polynovo Ltd (ASX: PNV)

The Polynovo share price is up 8% on $2.49. This is despite there being no news out of the medical device company. PolyNovo's shares are now up 75% since this time last year and hit a 52-week high earlier today. This has been driven by a big improvement in the company's performance.

Volpara Health Technologies Ltd (ASX: VHT)

The Volpara share price is up a further 3% to 64.2 cents. Investors have been buying the medical technology company's shares this week following the announcement of five new contract wins. Volpara advised that the five new contracts have a combined value of NZ$12.3 million. All the contracts are for five years.

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 positions in and has recommended PolyNovo and Volpara Health Technologies. The Motley Fool Australia has positions in and has recommended Volpara Health Technologies. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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