Insights

Why Anteotech, Credit Clear, Galaxy, & Mach7 shares are storming higher

Galaxy Resources Limited (ASX:GXY) and Mach7 Technologies Ltd (ASX:M7T) shares are two of four storming notably higher on Monday…
The post Why Anteotech, Credit Clear, Galaxy, & Mach7 shares are storming higher appeared first on The Motley Fool Australia. –

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company

It has been a subdued start to the week for the S&P/ASX 200 Index (ASX: XJO). In late morning trade, the benchmark index is down 0.3% to 6,972.1 points.

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

Anteotech Ltd (ASX: ADO)

The Anteotech share price has jumped 8% to 27 cents. Investors have been buying the surface chemistry company’s shares after it announced the receipt of CE Mark registration for the EuGeni Rapid Test Platform and COVID-19 Antigen Rapid Test. This registration means that the technology conforms with health and safety protection standards for products sold within the European Economic Area and the United Kingdom. As a result, a product launch is expected later this month.

Credit Clear Ltd (ASX: CCR)

The Credit Clear share price is up almost 5% to 76 cents. This morning the debt recovery platform provider announced a new contract win with insurance and banking giant Suncorp Group Ltd (ASX: SUN). In addition, Credit Clear revealed that its unaudited third quarter revenue grew 30% over the second quarter to more than $2.7 million.

Galaxy Resources Limited (ASX: GXY)

The Galaxy share price has charged 7.5% higher to $3.20. This follows the release of an update on its performance during the March quarter. According to the release, the lithium producer’s Mt Cattlin operation successfully ramped back up to nameplate capacity during the quarter. This led to Galaxy reporting quarterly production of 46,588 dry metric tonnes of lithium concentrate, up 39.7% on the previous quarter.

Mach7 Technologies Ltd (ASX: M7T)

The Mach7 share price has jumped over 11% to $1.40 following the release of its third quarter update. According to the release, the enterprise imaging platform provider achieved record quarterly cash receipts of $8.4 million during the quarter. This was almost double its second quarter cash receipts. Furthermore, Mach7 generated $12.84 million (total contract value) of new sales orders for the quarter. This was up from $7.6 million in the second quarter, taking the total year to date figure to $23.58 million.

Where to 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 are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

James Mickleboro owns shares of Galaxy Resources Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends MACH7 FPO. The Motley Fool Australia has recommended MACH7 FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why Anteotech, Credit Clear, Galaxy, & Mach7 shares are storming higher appeared first on The 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!