Winning Streak: Why Avita Medical, Pantoro, and Tietto shares are climbing higher

November 10, 2023 03:36 AM GMT | By Team Kalkine Media
 Winning Streak: Why Avita Medical, Pantoro, and Tietto shares are climbing higher
Image source: TZIDO SUN, Shutterstock.com

In the world of stock markets, there are good weeks, bad weeks, and those that leave investors scratching their heads. The S&P/ASX 200 Index, as of the time of writing, is experiencing a disappointing decline of 0.56%, resting at 6,975.70points. However, there are few ASX shares that are bucking this trend and making significant gains.

Let's dive into why these stocks are on the rise.

AVITA Medical Inc (ASX: AVH)

The Avita Medical share price is soaring, up 16% to AU$3.68. What's driving this surge? The catalyst is the release of the regenerative medicine company's third-quarter update. In a financial landscape marked by uncertainty, AVITA Medical has reported a remarkable 51% increase in commercial revenue, amounting to a substantial US$13.5 million for the three months.

But it's not all roses yet. Despite the promising revenue boost, AVITA Medical is still operating at a loss. What's catching investors' attention is the management's belief that the company has enough cash reserves to sustain itself until it turns profitable in 2025. This forward-looking perspective is likely a key factor in the stock's strong performance.

Pantoro Ltd (ASX: PNR)

Pantoro Ltd's share price has surged by a whopping 23%, reaching 4.8 cents. The share price uptick followed the company’s strategic move to sell its lithium and base metal rights from the Norseman Gold Project to Mineral Resources Ltd (ASX:MIN) for a substantial sum, potentially up to AU$60 million.

Pantoro's management has emphasised that this transaction provides immediate value for minerals that were not yet identified in economic quantities at Norseman. This decision is strategic and has contributed to the stock's significant gain. It's a clear example of how companies can leverage their assets to create value for their shareholders.

Tietto Minerals Ltd (ASX: TIE)

Tietto Minerals Ltd is also experiencing an uptick, with its share price up by 2% to 59 cents. The reason behind this positive movement is an update regarding the proposed takeover by Zhaojin. In this update, the company's board unanimously recommends that shareholders take no action.

Their rationale? The 58 cents per share offer by Zhaojin is seen as materially undervaluing Tietto. This position taken by the company's board has resonated with investors, and it has likely contributed to the stock's increase.

These ASX players share commonalities in their rise. In each case, positive news or developments within the respective companies have been the driving force. Whether it's strong revenue growth, strategic asset sales, or a board's stance on a takeover offer, these factors have generated investor interest and confidence.  


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 Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.


Sponsored Articles


Investing Ideas

Previous Next