Insights

Why Afterpay, Clinuvel, Kogan, & SEEK shares are storming higher today

Kogan.com Ltd (ASX:KGN) and SEEK Limited (ASX:SEK) shares are two of four charging notably higher on Wednesday. Here’s why…
The post Why Afterpay, Clinuvel, Kogan, & SEEK shares are storming higher today appeared first on Motley Fool Australia. –

child in a superman outfit

In late morning trade the S&P/ASX 200 Index (ASX: XJO) has followed the lead of U.S. markets and is charging notably higher. The benchmark index is currently up 0.7% to 5,935.6 points.

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

The Afterpay Ltd (ASX: APT) share price is pushing higher again and is up over 2% to $76.69. Investors have been buying Afterpay and other tech shares again on Wednesday after their U.S. counterparts stormed higher overnight. This has helped drive the S&P/ASX All Technology Index (ASX: XTX) is 2.7% higher this morning.

The Clinuvel Pharmaceuticals Limited (ASX: CUV) share price is up 7% to $23.74. Investors have been buying the biopharmaceutical company’s shares this week after it provided an update on its plan to expand the use of its SCENESSE drug to treat xeroderma pigmentosum (XP). Clinuvel has administered the first patient diagnosed with XP with the drug under a Special Access Program.

The Kogan.com Ltd (ASX: KGN) share price has stormed 5% higher to $20.22. This follows the release of a business update for the month of August. That update revealed that its active customers grew by an incremental 152,000 during August to reach 2,461,000. This was the largest monthly increase in its history and supported a 117% jump in gross sales. The company’s operating earnings grew even quicker at 466% year on year.

The SEEK Limited (ASX: SEK) share price is up a sizeable 9% to $20.92. This is despite there being no news out of the job listings giant this morning. One potential driver of this gain could be positive economic data out of China today. This would be good news for the company’s rapidly growing Zhaopin business. The SEEK share price was up as much as 13% at one stage.

These stocks could rocket in a Post-COVID world (FREE STOCK REPORT)

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.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

Find out the names of our 3 Post COVID Stocks – For FREE!

*Returns as of 6/8/2020

More reading

James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Kogan.com ltd and SEEK Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Why Afterpay, Clinuvel, Kogan, & SEEK shares are storming higher today appeared first on Motley Fool Australia.

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!