Why AnteoTech, BlueBet, Flight Centre, & Mosaic Brands are racing higher

Here's why these ASX shares are racing higher…

| More on:
stock market gaining

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

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decline. At the time of writing, the benchmark index is down 0.4% to 7,500.6 points.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are racing higher:

AnteoTech Ltd (ASX: ADO)

The Anteotech share price is up a further 22% to 22 cents. Investors have been buying this surface chemistry company's shares this week after it announced the signing of a distribution agreement in Turkey with Pera Medikal Anonim Sirketi. This deal is for the distribution of the EuGeni Reader platform and SARS-CoV-2 Antigen Rapid Diagnostic Test (RDT) in the country.

BlueBet Holdings Ltd (ASX: BBT)

The BlueBet share price has rebounded and is up 11% to $2.15. Investors have been buying the sports betting company's shares after analysts Morgans held firm with their add rating despite BlueBet missing out of a sports betting licence in the US state of Virginia. According to the note, the broker has retained its add rating with a reduced price target of $2.57. While disappointing, the broker remains positive on its prospects in US.

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price is up over 5% to $18.43. This follows news that the travel agent's shares have been upgraded by analysts at Credit Suisse this morning. According to the note, the broker has upgraded the company's shares to an outperform rating with an improved price target of $19.00. Credit Suisse made the move partly in response to the positive progress being made with the vaccine rollout.

Mosaic Brands Ltd (ASX: MOZ)

The Mosaic Brands share price has jumped 14% to 62 cents. This morning the retailer revealed an underwritten $32 million capital raising that will secure its future. Mosaic Brands notes that this will provide the business with additional balance sheet support until COVID-19 related lockdown measures are eased and stores re-open for trade.

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 BlueBet Holdings Ltd and Flight Centre Travel Group Limited. 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

Young girl drinking milk showing off muscles.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a great end to the trading week for ASX investors today.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Share Gainers

3 ASX 200 stocks smashing the benchmark this week

These three ASX 200 stocks are leading the charge this week. Here’s how.

Read more »

A young woman holding her phone smiles broadly and looks excited, after receiving good news.
Share Gainers

Why A2 Milk, EOS, GQG, and Mineral Resources shares are racing higher today

These shares are ending the week strongly. But why?

Read more »

A man wearing a red jacket and mountain hiking clothes stands at the top of a mountain peak and looks out over countless mountain ranges.
Share Gainers

Here are the top 10 ASX 200 shares today

It was another disappointing day for ASX investors this Thursday.

Read more »

two men smiling with a laptop in front of them, symbolising a rising share price.
Share Gainers

Why Pinnacle, PWR, Race Oncology, and Vulcan shares are flying today

These shares are having a good session on Thursday. But why?

Read more »

A beautiful woman holds up one finger with one hand and has her hand on her waist with the other as she smiles widely as though she is very pleased about something.
Share Gainers

Why Boss Energy, Emeco, Mineral Resources, and Plenti shares are pushing higher today

These shares are having a good time on hump day. But why?

Read more »

Three small children reach up to hold a toy rocket high above their heads in a green field with a blue sky above them.
Share Gainers

3 ASX 300 shares going gangbusters on Wednesday

Investors are bidding up these three ASX 300 shares today. But why?

Read more »

Man raising both his arms in the air with a piggy bank on his lap, symbolising a record high.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a huge Tuesday for ASX shares, with the index resetting its record high.

Read more »