These 2 shares topped the ASX 200 today

Kogan.com Ltd (ASX: KGN) and Gold Road Resources Ltd (ASX: GOR) were 2 of the best performing ASX 200 shares on the market today

| More on:
red arrow representing a rise of the share price with a man wearing a cape holding it at the top

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

Well, the S&P/ASX 200 Index (ASX: XJO) has just finished up trading for the day. It was a decent day overall, with the index putting on 0.22% to finish up at 7,045.9 points. The best two performing ASX shares for the day ended up being Kogan.com Ltd (ASX: KGN) and Gold Road Resources Ltd (ASX: GOR).

Here's what went right for these shares today

Kogan

Kogan was an ASX share that got hit last week in terms of the company's share price. On Friday, the e-commerce company released a trading update, which contained some earnings guidance revision. Instead of the ~$70 million in earnings before interest, tax, depreciation and amortisation (EBITDA) that commentators were expecting for FY2021, Kogan reckons it will only come up with between $58 and $63 million. The market response was not kind, pushing Kogan down more than 13% on Friday to a low of $8.76.

Today, it was a different story. Kogan actually opened even lower this morning at a new 52-week low of $8.70. But by the end of the day, investors had had a thorough change of mind. They decided to push Kogan up a whopping 13.33% to $9.86. Clearly, some investors thought Kogan was in the bargain bin, and were keen to snap up some shares. Even after this sizable move, Kogan remains down around 60% from last year's all-time high of $25.75.

Gold Road Resources

Gold Road Resources was another ASX share that was evidently in the buy zone today for many investors. Although buying wasn't as enthusiastic as it was for Kogan, this ASX gold miner still ended the day at $1.55 a share, a good 6.16% above where it ended the week last week. In contrast to Kogan, there wasn't any recent juicy news for investors to digest today.

But what was working in Gold Road's favour was the gold price. The yellow metal has been on the move in recent months, climbing from around US$1,700 an ounce in early March to roughly US$1,887 today. That was probably what was front of mind for investors today, who decided this gold miner was worth piling into. Gold Road wasn't the only beneficiary of this trend either. Its fellow ASX gold miners in Perseus Mining Limited (ASX: PRU) and Newcrest Mining Ltd (ASX: NCM) also handily outperformed the ASX 200.

Sebastian Bowen owns shares of Newcrest Mining Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd. The Motley Fool Australia has recommended Kogan.com ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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 »