The last trading week of the 2023 financial year was another big one for ASX shares.
Here's why these five stocks really defined the week.
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Some big gains and some painful losses
Kicking off with one the week's big share price gainers, we have ASX lithium share Forrestania Resources Ltd (ASX: FRS).
The Forrestania Resources share price closed up an impressive 97% on Tuesday, having posted eye-watering intraday gains of 216%.
This followed a promising lithium exploration update from its Calypso target at the Forrestania project in Western Australia. Investors bid up the ASX share on reports it has intercepted multiple thick pegmatites of up to 63 metres at Calypso.
Also making the list of five defining ASX shares, this time for a big fall, is artificial intelligence data services company Appen Ltd (ASX: APX).
The Appen share price closed down 12% on Monday.
Investors may have been spooked by news that Helen Johnson, Appen's chief financial officer, was resigning after less than two months in the role.
Large-cap ASX shares making the list
Collins Foods Ltd (ASX: CKF) also made the list of five defining ASX shares this week.
Following Tuesday's release of some consensus-beating full-year results, the KFC restaurant operator's shares closed the day up 18%.
Among the highlights, Collins Food reported a 14.2% year-on-year increase in revenue from continuing operations, which reached to $1.35 billion.
Then there's Qantas Airways Limited (ASX: QAN).
Shares in the flying kangaroo closed up 3% on Thursday following some significant changes among the top management.
Qantas reported that Rob Marcolina will take over as chief financial officer after Vanessa Hudson replaces Alan Joyce as CEO. Markus Svensson was appointed the new CEO of Qantas Domestic. And Catriona Larritt was named as the new chief customer and digital officer.
Rounding off the list of five defining ASX shares over the week gone by is Bubs Australia Ltd (ASX: BUB).
On Friday, the infant formula company released a decidedly disappointing update on its Bubs China business.
Bubs reported that low-performing, exclusive China distribution arrangements would see its full-year revenue in China come in at the low end of its prior guidance of $13.5 million to $13.8 million. That's some 75% less than last year's revenue of $53.6 million.
The Bubs share price was down more than 11% in intraday trading on Friday.
Following some likely bargain hunting, the ASX share closed the day flat at its previous closing price of 18 cents apiece.
