Why ARB, Rhythm Biosciences, Sezzle, & Spark shares are storming higher

Here’s why these ASX shares are on form today…
The post Why ARB, Rhythm Biosciences, Sezzle, & Spark shares are storming higher appeared first on The Motley Fool Australia. –

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down 0.25% to 7,334.5 points.

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

ARB Corporation Limited (ASX: ARB)

The ARB share price is up 8% to $44.68. Investors have been buying the 4×4 parts manufacturer’s shares following the release of a market update. According to the release, ARB achieved a 33.9% increase in unaudited sales revenue to $623 million in FY 2021. Things were even better on the bottom line thanks to margin expansion. The company expects its profit before tax to be within the range of $145 million to $150 million. This will be an increase of 85.5% to 92% on FY 2020’s profit before tax of $78.1 million.

Rhythm Biosciences Ltd (ASX: RHY)

The Rhythm Biosciences share price is up 4% to 88.5 cents. This morning the diagnostics company announced the creation of a wholly owned US domiciled entity, IchorDX. This will enable Rhythm to pursue its international expansion activities for ColoSTAT in one of its largest priority markets. ColoSTAT is intended to be a simple, affordable, minimally invasive and effective blood test for the early detection of bowel cancer. Management notes that the US market represents one of the largest diagnostic markets in the world, with a current addressable market of over 94 million people.

Sezzle Inc (ASX: SZL)

The Sezzle share price has jumped 7% to $8.53. This morning the buy now pay later (BNPL) provider revealed that Discover Financial Services has agreed to invest US$30 million into Sezzle. Discover has 48 million merchant locations and generated US$417 billion in total network volume last year. In addition to the investment, the two parties plan to work on a buy now, pay later network solution on the Discover Global Network.

Spark Infrastructure Group (ASX: SKI)

The Spark share price has stormed 7.5% higher to $2.66 after receiving and then rejecting a takeover approach. This morning the energy network operator revealed that it received a conditional and non-binding indicative proposal from Ontario Teachers’ Pension Plan Board (OTPP) and Kohlberg Kravis Roberts & Co (KKR) of $2.70 cash per share. The Spark Board believes it undervalues the company.

The post Why ARB, Rhythm Biosciences, Sezzle, & Spark 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

Why the Rhythm Biosciences (ASX:RHY) share price is racing 6% higher
ASX 200 midday update: Afterpay & Zip sink again, ARB shoots higher

Spark Infrastructure (ASX:SKI) share price rallies 7% on confirmed bid
Sezzle (ASX:SZL) share price higher on Discover investment & partnership
The Afterpay share price just had its worst day since February 2021. Here’s why

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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ARB Corporation Limited. 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!