Why these popular ASX stocks are making big moves on Thursday

Let's see why investors are buying and selling these shares on Thursday.

| More on:
A financial expert or broker looks worried as he checks out a graph showing market volatility.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • Nuix's share price has surged following its acquisition announcement, promising exciting advancements in data visualisation with Linkurious.
  • Step One is facing investor disappointment as its shares plummet due to a steep decline in revenue and a hefty provision for unsold stock.
  • Overall, the ASX is witnessing some significant movements, with a clear contrast in fortunes between these two stocks capturing attention.

There have been some big moves on the ASX boards on Thursday.

Two ASX stocks that are heading in very different directions are named below. Here's what is driving their share prices today:

Nuix Ltd (ASX: NXL)

The Nuix share price is up 5% to $1.89. This follows the announcement of an agreement to acquire Linkurious, which is a graph-powered AI decision platform, for up to 20 million euros (~A$35.4 million).

The release notes that the Paris-founded business provides technology that allows customers to visually explore and investigate graph data, to detect patterns of interest and investigate alerts.

Management notes that the acquisition builds on Nuix's innovation roadmap through the incorporation of powerful and intuitive graph technology and data visualisation.

Linkurious had Annualised Contract Value (ACV) of ~ 7 million euros (~A$12 million) at the end of June and recorded positive EBITDA and operating cash flow for the full year to 31 December 2024.

Nuix's interim CEO, John Ruthven, said:

The acquisition of Linkurious is an exciting accelerator for our strategic vision to enable our customers with insights from complex data at unparallelled speed and scale. This injection of graph-native expertise, proven link analysis technology and quality customers will allow us to bring immediate value to our customers.

Step One Clothing Ltd (ASX: STP)

The Step One share price is crashing 31% to 33.5 cents. Investors have been selling the underwear retailer's shares after it released a disappointing trading update.

Management advised that based on year-to-date trading, including estimates for December, it expects half year revenue to be in the range of $30 million and $33 million. This represents a decline of between 31% to 37% on the $48.1 million recorded in the prior corresponding period.

Things will be worse for its earnings, with management expecting its EBITDA to be a loss of between $9 million and $11 million. This compares to a profit of $11.3 million a year ago. Though, this half will include a $10 million provision for inventory obsolescence. It commented:

The recent sales results were materially below expectations, and our efforts to clear older and slower-moving inventory were not successful. As a result, the Company has raised a $10 million obsolescence provision against this legacy stock. This inventory is now fully provisioned, and no further material provisions are anticipated at this stage.

In light of the above, the ASX stock has withdrawn its FY 2026 EBITDA guidance and advised that no updated guidance will be issued at this stage. It will update the market once greater visibility over trading and inventory outcomes is available.

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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Nuix. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

Happy man working on his laptop.
Broker Notes

Forget this ASX 200 share and buy Telstra and Zip shares: Experts

One of these shares is a hold, while the other two are buys.

Read more »

Smiling man with phone in wheelchair watching stocks and trends on computer
Share Market News

5 things to watch on the ASX 200 on Monday

A much better session is expected for Aussie investors today.

Read more »

Worker on a laptop in front of an energy storage system in a factory.
Broker Notes

Are Origin Energy shares a buy, hold or sell before earnings results?

What can investors expect this earnings season?

Read more »

Happy work colleagues give each other a fist pump.
Broker Notes

These ASX 200 shares could rise 30% to 75%

Big returns could be on offer with these shares according to brokers.

Read more »

A young female investor sits in her home office looking at her ipad and smiling as she sees the QBE share price rising
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

Young woman dressed in suit sitting at cafe staring at laptop screen with hands to her forehead looking tense
Share Market News

ASX 200 financials flew but tech and mining shares faltered last week

A commodities rout and an interest rate hike in Australia smashed the market last week.

Read more »

a graph indicating escalating results
Broker Notes

Why this buy-rated ASX energy share is tipped to more than double in 2026

A leading broker expects this rebounding ASX energy stock to rocket 104% in 2026. But why?

Read more »

Delighted adult man, working on a company slogan, on his laptop.
Broker Notes

Buy, hold, sell: CSL, Pinnacle, and Telix shares

Let's see what analysts are saying about these popular shares right now.

Read more »