Lake Resources N.L (ASX:LKE) and Zip Co Ltd (ASX:Z1P) are two of four ASX shares climbing higher on Wednesday. Here’s why…
The post Why Lake Resources, PainChek, Z Energy, & Zip shares are rising today appeared first on The Motley Fool Australia. –
In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to give back a portion of yesterday’s gain. The benchmark index is currently down 0.4% to 6,799.3 points.
Four ASX shares that are not letting that stop them push higher are listed below. Here’s why they are rising today:
Lake Resources N.L (ASX: LKE)
The Lake Resources share price is up 3% to 36 cents. Investors have been buying the lithium company’s shares after it refreshed its flagship Kachi Lithium Brine Project Pre-Feasibility Study (PFS) based on revised lithium price estimates. It now estimates that the project has a net present value of US$1.6 billion (A$2.1 billion). This is almost double its previous estimates. Lake Resources made the move following discussions with potential off-takers and recent projections from Benchmark Mineral Intelligence.
PainChek Ltd (ASX: PCK)
The PainChek share price has jumped 10% to 7.6 cents. This morning PainChek released an update on its smart phone-based pain assessment and monitoring application. According to the release, the Universal Pain Assessment Solution has received CE Mark in Europe and Therapeutic Goods Administration clearance in Australia.
Z Energy Ltd (ASX: ZEL)
The Z Energy share price has risen over 4% to $2.72. Investors have been buying the New Zealand-based fuel retailer’s shares after it announced that it has successfully renegotiated the covenant waivers with its banking syndicate. This will allow Z Energy to recommence distributions to shareholders, starting with an expected full year dividend in FY 2021.
Zip Co Ltd (ASX: Z1P)
The Zip share price is pushing 2% higher to $8.92 despite there being no news out of the buy now pay later provider. However, investors may believe its shares are good value based on a note out of Citi yesterday. Although its analysts have retained their neutral rating, their price target of $11.35 is notably higher than where its shares trade at today.
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.
*Returns as of February 15th 2021
- Why the Lake Resources (ASX:LKE) share price is shooting 10% higher today
- Flight Centre and Zip were some of the most traded ASX shares last week
- The Afterpay Ltd (ASX:APT) share price on watch after launch in France, Spain and Italy
- Here’s what Citi thinks about the Afterpay (ASX:APT) share price
- Why did the Afterpay (ASX:APT) share price and 2 other BNPLs fall today?
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 ZIPCOLTD FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post Why Lake Resources, PainChek, Z Energy, & Zip shares are rising today appeared first on The Motley Fool Australia.