BBT, CKF, NST: Why these ASX shares jumped over 6% yesterday

Image Source: © Kiosea39 | Megapixl.com

Highlights

  • The benchmark ASX 200 ended higher on Tuesday.

  • The overall market sentiment was positive.

  • As a result, several ASX shares ended on a strong note.

Buoyed by gains in energy, resources, and metals & mining sectors, the ASX 200 ended on Tuesday on a strong note, up 0.86% to 6,763.60. There were several shares which climbed during the day and even ended on a strong note. These stocks rose as high as 13%, mainly on account of positive price-sensitive news and improved market sentiment.

Here we discuss why these three ASX-listed shares rose over 6% on Tuesday:

Bluebet Holdings Ltd (ASX:BBT)

Bluebet Holdings provides sports and racing betting products and services to customers. The share price of Bluebet Holdings charged 12.77% higher to AU$0.53 on Tuesday. The share price has fallen 63.19% on a year-to-date (YTD) basis. The major trigger for the rise of Bluebet’s shares was the signing of a 10-year market access deal with Caesars Entertainment. With this, Bluebet would carry out its operations in Indiana.

RELATED ARTICLE: From DMP to CSL: ASX blue-chip shares with over 4% gains in past 5 days

Collins Foods Ltd (ASX:CKF)

Collins Foods operates food service retail outlets. The share price of Collins Foods charged 11.52% higher to AU$9.97 on Tuesday. The share price has fallen 26.85% on a YTD basis. Shares of Collins Foods advanced on Tuesday following the release of robust financial results for the year ended 1 May 2022.

The ASX-listed firm posted a rise of over 11% in revenue  and a 12.6% surge in underlying earnings before interest, tax, depreciation and amortisation (EBITDA) for FY22.

RELATED ARTICLE: ALL, S32, COL: How these ASX blue-chip stocks have fared in 2022 so far

Northern Star Resources Ltd (ASX:NST)

Northern Star Resources is an ASX-listed gold explorer. The share price of Northern Star Resources charged 6.13% higher to AU$7.45 on Tuesday. The share price has fallen 20.91% on a YTD basis. The shares of Northern Star Resources jumped following an update by the company relate to its KCGM mill optimisation pre-feasibility study. According to the findings, the gold miner has identified an opportunity to produce higher-margin ounces at improved capital efficiency.


 


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and