Recovery Rally: Here’s the Top ASX Shares Today
The ASX staged a recovery rally today after a sharp fall yesterday. Here’s some of the top performing ASX shares today.
Ramelius Resources [ASX:RMS]
Ramelius was up a significant 12.92%, continuing the theme of gold stocks outperforming a volatile market. Investors really warmed to its binding option agreement with Rumble Resources Ltd [ASX:RTR] for its Western Queen Gold Project.
There are increasing hints that the gold stock sector is beginning to get overheated and this may strengthen the case for physical ownership.
Our editor, Greg Canavan examines the factors driving the price of bullion in an in-depth report here.
Livetiles Limited [ASX:LVT]
Livetiles managed to claw back 12.05% today after perhaps being oversold in the latest ASX downturn.
The company recently released its quarterly report for the year detailing 167% growth in its annualised recurring revenue (ARR) of $40.1 million.
With a market cap of around $270 million, Livetiles could be considered cheap by tech stock standards.
We have a look at four exciting AI/automation companies here.
Phoslock Environmental Technologies Limited [ASX:PET]
Water treatment darling Phoslock released an investor presentation today and Phoslock shares managed to clock an 8.37% gain today.
The presentation documented a number of positive aspects to their current operations, including the expansion of its Phoslock® manufacturing facility and plans for a second factory in the next year.
It is projecting sales upwards of $25 million this year.
And today’s best performer was…
Opthea Limited [ASX:OPT]
The Opthea share price had a field day, going up by 136.99% in the end.
It comes after they released an announcement detailing positive Phase 2b clinical results for its OPT-302 eye treatment for age-related macular degeneration.
The announcement quoted Dr Pravin Dugel who was a study investigator on the trail, who said it was a potential ‘game-changer.’
When biotech companies like Opthea have this kind of breakthrough, there is sometimes a pullback the next day as investors cash in.
If you’ve ever wondered how to go about picking ASX-listed biotech companies, you can learn more about the process involved here.
For Money Morning