Insights

Why Afterpay, Austal, Baby Bunting, & Nick Scali shares are storming higher

These ASX shares are on form on Wednesday…
The post Why Afterpay, Austal, Baby Bunting, & Nick Scali shares are storming higher appeared first on The Motley Fool Australia. –

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has given back its morning gains and is tumbling lower. At the time of writing, the benchmark index is down 0.5% to 7,210.7 points.

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

Afterpay Ltd (ASX: APT)

The Afterpay share price is up 3.5% to $117.49. This follows a strong night on Wall Street which saw the Square share price rebound with a gain of 4.3%. As Square is acquiring Afterpay in an-scrip deal, the value of the takeover rises and falls with the Square share price.

Austal Limited (ASX: ASB)

The Austal share price is up over 4% to $1.95. This follows news that the shipbuilder has been awarded its first steel vessel construction contract by the United States Navy. According to the release, the US$145 million (~A$198.5 million) contract is to build two Towing, Salvage, and Rescue ships.

Baby Bunting Group Ltd (ASX: BBN)

The Baby Bunting share price is up 5% to $5.69. Investors have been bidding this baby products retailer’s shares higher today following a bullish broker note out of Morgans. According to the note, the broker has upgraded the company’s shares to an add rating with a $6.20 price target. This follows the release of the company’s trading update on Tuesday at its annual general meeting.

Nick Scali Limited (ASX: NCK)

The Nick Scali share price is up 5% to $12.92. This morning Citi retained its buy rating and lifted its price target on the furniture retailer’s shares to $16.80. It was pleased with the company’s acquisition of Plush for $103 million. The broker described Plush and Nick Scali as a compatible low risk match.

The post Why Afterpay, Austal, Baby Bunting, & Nick Scali 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 August 16th 2021

More reading

Why the Afterpay Ltd (ASX:APT) share price is bouncing back on Wednesday
ASX 200 (ASX:XJO) midday update: A2 Milk class action, tech shares rebound

Why this broker just upgraded the Baby Bunting (ASX:BBN) share price to buy
Why is the Afterpay (ASX:APT) share price plunging 5% today?
Why De Grey Mining, Gold Road, Nick Scali, & Redbubble shares are racing higher

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 AFTERPAY T FPO and Austal Limited. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia has recommended Baby Bunting. 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!