These ASX shares are on form on Wednesday…
The post Why Bigtincan, Lovisa, SILK, & WiseTech shares are charging higher appeared first on The Motley Fool Australia. –
In afternoon trade on Wednesday, the S&P/ASX 200 Index (ASX: XJO) is on track to record another gain. At the time of writing, the benchmark index is up 0.2% to 7,516.8 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are charging higher:
Bigtincan Holdings Ltd (ASX: BTH)
The Bigtincan share price has rocketed 20% to $1.43. This follows the successful completion of its placement and institutional entitlement offer. Bigtincan is seeking to raise $135.3 million in order to fund the acquisition of Brainshark, Inc. for US$86 million (A$116 million). Brainshark is an industry-recognised and multi-awarded leader in its field of sales coaching, learning and readiness. Its addition is expected to lead to combined FY 2022 annualised recurring revenue meeting or exceeding A$119 million in FY 2022.
Lovisa Holdings Ltd (ASX: LOV)
The Lovisa share price has jumped 19% to $19.47. Investors have been buying the fashion jewellery retailer’s shares following the release of strong full year results. For FY 2021, Lovisa reported an 18.9% increase in revenue to $288 million and a 43.3% jump in net profit after tax to $27.7 million.
SILK Laser Australia Ltd (ASX: SLA)
The SILK Laser share price has jumped 14% to $3.89 following the release of its maiden full year results. The cosmetic clinic operator reported a 68% increase in network sales to $85.1 million and a 180% jump in pro forma EBITDA to $17.3 million. The latter was ahead of its upgraded guidance of $15 million to $16 million. This was driven by a 52% increase in like for like sales, new store openings, and strong demand in the injectables and body categories.
WiseTech Global Ltd (ASX: WTC)
The WiseTech Global share price has surged 25% to $45.45. Investors have been scrambling to buy the logistics solution platform provider’s shares following the release of a full year result that smashed expectations. The company was aiming for revenue of $470 million to $510 million and EBITDA of $165 million to $190 million. However, it reported an 18% increase in revenue to $507.5 million and a 63% jump in EBITDA to $206.7 million. Looking ahead, management is guiding to EBITDA growth of 26% to 38% in FY 2022.
The post Why Bigtincan, Lovisa, SILK, & WiseTech shares are charging higher appeared first on The Motley Fool Australia.
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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 BIGTINCAN FPO and WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended SILK Laser Australia Limited. The Motley Fool Australia owns shares of and has recommended BIGTINCAN FPO and WiseTech Global. The Motley Fool Australia has recommended SILK Laser Australia Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.