Why A2 Milk, Airtasker, BetMakers, & Sydney Airport shares are storming higher

These ASX shares have started the week strongly…
The post Why A2 Milk, Airtasker, BetMakers, & Sydney Airport shares are storming higher appeared first on The Motley Fool Australia. –

The S&P/ASX 200 Index (ASX: XJO) is on course to start the week on a slightly positive note. In early afternoon trade, the benchmark index is up 0.1% to 7,316.1 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is up over 3% to $6.73. This follows news that the New Zealand Overseas Investment Office has issued its consent to the company’s proposed acquisition of a 75% interest in Mataura Valley Milk. Management expects the acquisition of the dairy nutrition business to provide A2 Milk with the opportunity to participate in nutritional products manufacturing and give it supplier and geographic diversification. It also expects the deal to strengthen its relationship with key partners in China.

Airtasker Ltd (ASX: ART)

The Airtasker share price is up 4% to $1.16. Investors have been buying the shares of the online marketplace for local services after it released a guidance update. According to the release, Airtasker achieved Gross Marketplace Volume (GMV) of $39.4 million in the fourth quarter. This represents a 39.1% increase compared to the prior corresponding period. In light of this strong quarterly performance, management expects to report GMV of $153.1 million for the full year. This exceeds both its prospectus forecast of $143.7 million and April’s upgraded guidance of $148 million to $152 million.

BetMakers Technology Group Ltd (ASX: BET)

The BetMakers share price has jumped 5% to $1.10. This follows news that Tabcorp Holdings Limited (ASX: TAH) intends to demerge its lotteries and Keno business. This will see two separate ASX-listed companies – Tabcorp and Lotteries & KenoCo. The former will retain its wagering, media, and gaming services businesses. The BetMakers share price had come under significant pressure since announcing a takeover offer for Tabcorp’s wagering and media assets. Investors appear relieved the deal will no longer go ahead.

Sydney Airport Holdings Pty Ltd (ASX: SYD)

The Sydney Airport share price has rocketed 30% higher to $7.55. Investors have been scrambling to buy the airport operator’s shares after it received an $8.25 cash per share takeover offer from a consortium of infrastructure investors. This represents a 42% premium to its last close price. Sydney Airport is assessing the offer but notes that it has been made during a global pandemic, which has deeply affected the aviation industry and the Sydney Airport share price.

The post Why A2 Milk, Airtasker, BetMakers, & Sydney Airport shares are storming higher appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

Auckland Airport (ASX:AIA) share price jumps 6% on travel bubble news
These ASX shares are the latest to be hit by broker downgrades

Why the BetMakers (ASX:BET) share price is up 5% at lunchtime
Sydney Airport (ASX:SYD) jumps 37% on $22.6 billion buyout bid
ASX 200 up 0.1%: Sydney Airport takeover, Tabcorp demerger, a2 Milk jumps

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. owns shares of and has recommended Betmakers Technology Group Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Airtasker Limited. The Motley Fool Australia has recommended A2 Milk and Betmakers Technology Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!