In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is off its lows but still on course to record a disappointing decline. The benchmark index is currently down 1.45% to 6,966.3 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are charging higher:
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Atlantic Lithium Ltd (ASX: A11)
The Atlantic Lithium share price is up 11% to 49 cents. Investors appear to be taking advantage of recent weakness to pick up shares in this lithium explorer. Its shares were crushed after being hit by a scathing short attack alleging corruption. The company has refuted these claims.
Pushpay Holdings Ltd (ASX: PPH)
The Pushpay share price is up 15% to $1.30. This morning, this payments company revealed that it has received an improved takeover proposal from Pegasus BidCo. According to the release, Pegasus has lifted its offer by 6% from NZ$1.34 cash per share to NZ$1.42 per share. This represents an offer of A$1.32 per share and values Pushpay at A$1.52 billion.
St Barbara Ltd (ASX: SBM)
The St Barbara share price is up 3% to 59.2 cents. Investors have been buying gold miners again on Thursday in response to the market volatility. This has led to the S&P/ASX All Ordinaries Gold index rising over 0.5% this afternoon.
Temple & Webster Group Ltd (ASX: TPW)
The Temple & Webster share price is up 2.5% to $3.54. This has been driven by news that the online furniture retailer is undertaking an on-market share buyback. Temple & Webster intends to acquire up to $30 million worth of its shares over a 12-month period starting on 3 April. It commented: "The board considers the acquisition of shares at prevailing prices to be effective capital management while retaining financial flexibility to fund accretive organic and inorganic opportunities as part of its growth strategy."
