Why Altium, AVITA, Cann, & Strike Energy shares surged higher today

The Altium Limited (ASX:ALU) share price and the Cann Group Ltd (ASX:CAN) share price are two of four surging notably higher today…

| 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

The S&P/ASX 200 index has shaken off trade war concerns and returned to form on Wednesday. In afternoon trade the benchmark index is on course to bounce back strongly from yesterday's sell off and is up 0.6% to 6,279.3 points.

Four shares climbing more than most today are listed below. Here's why they have surged higher:

The Altium Limited (ASX: ALU) share price has raced over 4% higher to $32.13 after investors returned to the tech sector following yesterday's selloff. Altium isn't the only tech share racing higher today. The rampant buying has led to the S&P/ASX 200 Info Tech index rising a solid 1.4% this afternoon.

The AVITA Medical Ltd (ASX: AVH) share price has risen over 6% to 43 cents. The global regenerative medicine company's shares have stormed higher despite it announcing that Dale A. Sander is resigning as its chief financial officer in order spend more time with his family on the east coast. According to the release, Tim Rooney, AVITA's chief administrative officer, will assume the role of interim CFO until a comprehensive search can be completed.

The Cann Group Ltd (ASX: CAN) share price has pushed over 4% higher to $2.25 after announcing that it has delivered the Victorian Government the first Australian sourced and commercially grown cannabis resin for use by Australian patients. Cann Group CEO Peter Crock explained that the company was pleased to be associated with the Victorian Government's compassionate access scheme, which aims to improve the quality of life for young epilepsy patients and their carers.

The Strike Energy Ltd (ASX: STX) share price has zoomed 12% higher to 8.3 cents after the oil and gas company provided a positive update on its Jaws pilot operation at the Southern Cooper Basin Gas Project. According to the release, Strike Energy has continued piloting the Jaws appraisal project and drawing the wells down in a careful and controlled manner. This has led to consistent gas production being re-established and the flare stack igniting with reservoir pressure at Jaws currently at 425 psi.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Altium. The Motley Fool Australia has no position in any of the stocks mentioned. 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 Scott Phillips.

More on Share Gainers

A businessman looking at his digital tablet or strategy planning in hotel conference lobby. He is happy at achieving financial goals.
Share Gainers

Why Arcadium Lithium, Bellevue Gold, Catalyst Metals, and Northern Star shares are rising today

These shares are having a good session on Thursday. But why? Let's find out.

Read more »

A group of people at a party look upwards to the camera as they celebrate the rise of ASX value shares
Share Gainers

16 ASX shares that doubled in value last year

There were multiple ASX All Ords stocks that delivered double-or-more share price growth in 2024.

Read more »

A woman blows what looks like colourful dust at the camera, indicating a positive or magic situation.
Share Gainers

Why Deterra, DroneShield, Regis Resources, and West African shares are storming higher

These shares are having a strong session on hump day. Why are investors buying them?

Read more »

A miner reacts to a positive company report mobile phone representing rising iron ore price
Resources Shares

Why this $2 billion ASX 200 mining stock is surging 7% today

ASX 200 investors are sending the $2 billion mining stock soaring on Wednesday. But why?

Read more »

rising medical asx share price represented by excited doctors dancing in ward
Healthcare Shares

Up 77% in a month! What's going on with the Mesoblast share price?

This stock has blown the lights out in recent weeks...

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Share Gainers

Why Capricorn Metals, IDP Education, Life360, and Opthea shares are storming higher

These shares are having a good session on Tuesday. But why? Let's find out.

Read more »

a man sits at his desk wearing a business shirt and tie and has a hearty laugh at something on his mobile phone.
Share Gainers

Why Block, DroneShield, EBR Systems, and Insignia shares are racing higher

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

Read more »

Two lab workers fist pump each other.
Healthcare Shares

Guess which All Ords ASX healthcare stock just surged 11% on FDA news

Investors are sending the ASX healthcare stock soaring on Monday.

Read more »