Insights

Why Afterpay, Core Lithium, De Grey Mining, & Pro Medicus are storming higher

These ASX shares are on form today…
The post Why Afterpay, Core Lithium, De Grey Mining, & Pro Medicus are storming higher appeared first on The Motley Fool Australia. –

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is fighting hard to get back into positive territory but has just fallen short. At the time of writing, the benchmark index is down 0.1% to 7,292.2 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 has jumped 6.5% to $130.81. Investors have been buying the payments company’s shares after it announced the expansion of its one-time card footprint. The buy now pay later provider will now let users shop with some of the most popular and largest merchants in the United States. This includes Amazon, Nike, Nordstrom, Target, and Walgreens. Combined, the new additions represent almost half of all U.S. ecommerce volume.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price has risen 3.5% to 23.3 cents. Interestingly, this gain has been driven by the discovery of gold and not lithium. As part of its search for lithium-bearing pegmatite resources at the Finniss Lithium Project in the Northern Territory, Core identified numerous signs commonly associated with gold deposits in nearby locations.

De Grey Mining Limited (ASX: DEG)

The De Grey Mining share price is up 11% to $1.37. This appears to be a delayed reaction to yesterday’s mineral resource update. That update revealed that the measured and indicated mineral resources across the Mallina Gold Project comprise 3.8M ounces at 1.4g per tonne of gold. This is being underpinned largely by the Hemi deposit, which contributes 2.8M ounces at 1.3g per tonne of gold.

Pro Medicus Limited (ASX: PME)

The Pro Medicus share price has jumped 7% to $57.15. This is despite there being no news out of the health imaging company. Furthermore, Pro Medicus’ shares are surging higher even though they were downgraded by analysts at Morgans today. The broker has downgraded them to a reduce rating but lifted its price target to $49.69. It made the move on valuation grounds.

The post Why Afterpay, Core Lithium, De Grey Mining, & Pro Medicus 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

Up another 6%, Afterpay (ASX:APT) share price hits 4-month high
ASX 200 down 0.25%: Woolworths sinks, Afterpay jumps, Westpac NZ update

Here’s why the Core Lithium (ASX:CXO) share price is lifting off today
4 top ASX 200 shares analysts rate highly

Afterpay (ASX:APT) onboards Amazon, Nike, Target to ‘one-time card’

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 Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO and Pro Medicus 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!