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

Published on June 29, 2022 09:14 AM AEST

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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.

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.

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.