Why these 4 ASX shares have started the week with a bang

The Aconex Ltd (ASX:ACX) share price is one of four starting the week with strong gains. Here's what you need to know…

| More on:
a woman

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

It has been a disappointing start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index is down 0.8% to 5,739 points due to heavy declines in the banking sector.

Despite this, four shares have managed to defy the market and make notably strong gains. Here's why they have started the week strongly:

The Aconex Ltd (ASX: ACX) share price is up over 4% to $4.39 despite there being no news out of the software-as-a-service company. Short interest in the company's shares has fallen in the last few months and currently sits at 12.9%. Although this is higher-than-average, it is a big drop from where it was at the end of last year. I believe this could be a sign that sentiment is shifting positively.

The MGC Pharmaceuticals Ltd (ASX: MXC) share price has rocketed 16% to 5 cents after the pot stock announced an agreement with the Biotechnical Faculty of the University of Ljubljana in Slovenia to begin a three-year comprehensive botanical research program. The two parties aim to develop medicinal cannabis strains tailored for specific medical indications which include epilepsy, chronic pain, and the side effects of oncology.

The Prima BioMed Limited (ASX: PRR) share price has surged higher by 19% to 3.7 cents. This morning the biotechnology company announced positive safety and efficacy data from the safety run-in stage of its clinical trial for IMP321 in metastatic breast cancer. Furthermore, the trial showed that IMP321 in combination with paclitaxel showed an encouraging disease control rate of 87%. Whilst it is early days, these are undoubtedly promising results.

The Vocus Group Ltd (ASX: VOC) share price has jumped 4% to $2.88 despite there being no news out of the growing telco company. But with its shares down 26% year-to-date, today's gain could be a case of bargain hunters snapping up shares. Here's why value investors might want to consider it as an investment today.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the 'five best ASX stocks' for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now...

See The 5 Stocks *Returns as of 9 January 2025

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of ACONEX FPO and Vocus Communications Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Investing

A white and black robot in the form of a human being stands in front of a green graphic holding a laptop and discussing robotics and automation ASX shares
Technology Shares

Joining the revolution: How I'd invest in ASX AI shares right now

Advances in artificial intelligence (AI) could usher in a new industrial revolution. Here’s how you can invest in it.

Read more »

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »