Why Core Lithium, Life360, Syrah, and Xero shares are jumping today

These ASX shares are ending the week on a high. But why?

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Man drawing an upward line on a bar graph symbolising a rising share price.

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The S&P/ASX 200 Index (ASX: XJO) is having a subdued finish to the week. In afternoon trade, the benchmark index is up a fraction to 7,700.2 points.

Four ASX shares that are rising more than most today are listed below. Here's why they are jumping:

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 12% to 23.5 cents. Investors have been scrambling to buy Core Lithium and other ASX lithium shares on Friday after lithium carbonate futures raced higher in China. Investors appear hopeful that this could be a sign that lithium prices have bottomed and are now starting their recovery.

Life360 Inc (ASX: 360)

The Life360 share price is up 33% to $10.86. Investors have been buying this location technology company's shares after the release of an impressive full-year result. Life360's adjusted EBITDA came in at US$20.6 million for the year. This was comfortably ahead of its guidance range of US$12 million to US$16 million. In FY 2024, management expects adjusted EBITDA in the range of US$30 million to US$35 million.

Syrah Resources Ltd (ASX: SYR)

The Syrah share price is up 8% to 65.7 cents. This has been driven by news that the graphite producer has signed a binding offtake agreement with Posco Future M. The six-year agreement is for up to 2kt per month of natural graphite product in the year following commissioning. After which, it could increase to 2kt per month (24kt per annum) to 5kt per month (60kt per annum).

Xero Ltd (ASX: XRO)

The Xero share price is up almost 4% to $132.23. This morning, analysts at Goldman Sachs responded positively to the cloud accounting platform provider's investor day event. Goldman has reiterated its buy rating with an improved price target of $152.00 (from $141.00).

Motley Fool contributor James Mickleboro has positions in Life360 and Xero. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Life360, and Xero. The Motley Fool Australia has positions in and has recommended Xero. 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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