Why Life360, Qantas, Qoria, and Silver Lake shares are racing higher today

These ASX shares are starting the week very strongly. But why?

| More on:
A man clenches his fists in excitement as gold coins fall from the sky.

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 start the week with a small gain. At the time of writing, the benchmark index is up slightly to 7,779.9 points.

Four ASX shares that are rising more than most today are listed below. Here's why they are racing higher on Monday:

Life360 Inc (ASX: 360)

The Life360 share price is up 17% to $14.20. This follows the release of a trading update which revealed that the location technology company has had a record first quarter. Life360's global Monthly Active Users (MAU) were 66.4 million at the end of the first quarter. This is an increase of 4.9 million since the end of the fourth quarter and represents a record for a first quarter. It is also more than double the net additions of 2.2 million the company recorded in the prior corresponding period. Life360 also suggested that a dual listing on Wall Street could be coming soon.

Qantas Airways Limited (ASX: QAN)

The Qantas Airways share price is up 5% to $5.71. Investors have responded positively to news that Qantas is making "one of the biggest ever expansions" of its frequent flyer program. This will see the Flying Kangaroo add 200 million more reward seats with the launch of Classic Plus Flight Rewards. CEO Vanessa Hudson said: "The Qantas Frequent Flyer program is an integral part of Qantas and has always been about recognising our customers for their loyalty. The widespread availability of Classic Plus means that frequent flyers have more options to fly where they want, when they want and more often, using their points."

Qoria Ltd (ASX: QOR)

The Qoria share price is up 30% to 41 cents. This follows news that the cyber safety company has received and rejected a takeover offer. According to the release, the company, formerly known as Family Zone Cyber Safety, believes the 40 cents per share offer from K1 Investment Management "significantly undervalues Qoria and has unanimously rejected the Indicative Proposal as not being in the best interests of shareholders."

Silver Lake Resources Ltd (ASX: SLR)

The Silver Lake Resources share price is up 5% to $1.34. Investors have been buying this gold miner's shares following the release of a sales update. According to the release, Silver Lake Resources' sales for the third quarter were 64,463 ounces of gold and 338 tonnes of copper. This brings financial year to date sales to 187,244 ounces of gold and 872 tonnes of copper. Management advised that both the Mount Monger and Deflector operations performed strongly through the quarter and are well positioned to meet the top end of their respective guidance ranges.

Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Life360. The Motley Fool Australia has no position in any of the stocks mentioned. 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 young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why Avita Medical, GenusPlus, Mesoblast, and Polynovo shares are storming higher

These shares are having a better day than most today. But why?

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why EOS, News Corp, Polynovo, and Pro Medicus shares are roaring higher today

These shares are starting the week positively. But why?

Read more »

Five young people sit in a row having fun and interacting with their mobile phones.
Share Gainers

5 ASX 200 stocks marching higher this week even as the market sinks

These five ASX 200 companies are shrugging off the broader selling to march higher this week.

Read more »

Rising share price chart.
Share Gainers

Why Novonix, HMC, Karoon Energy, and Ventia shares are pushing higher

These shares are ending the week on a positive note. But why?

Read more »

A young woman smiles as she rides a zip line high above the trees.
Share Gainers

3 top ASX 200 stocks I wish I'd owned in 2024

These three top ASX 200 stocks are racing higher in 2024.

Read more »

Man pointing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why Champion Iron, EBR Systems, Mesoblast, and Patriot Battery Metals shares are surging today

These shares are avoiding the market selloff on Thursday. But why?

Read more »

A man looking at his laptop and thinking.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors ended up snatching defeat from the jaws of victory today.

Read more »

Excited group of friends sitting on sofa watching sports on TV and celebrating.
Share Gainers

Why Clarity, Omni Bridgeway, Santana Minerals, and Vulcan shares are pushing higher today

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

Read more »