Q1 Recap | ASX Hit New Records! Why These 5 AU Stocks Gain About 50%?-To The Moon - Tiger Brokers Online Investing Community

Q1 Recap | ASX Hit New Records! Why These 5 AU Stocks Gain About 50%?

$S&P/ASX 200(XJO.AU)$ has risen 4.03% and hit new records in Q1.

Let’s look at the top 5 gainers in ASX stock market.

1. $LIFE360 INC-CDI(360.AU)$ roars 70% with earnings beats and new ad strategy

The company jumped 38% on the day its released impressive earnings, smashing earnings estimates. It improves both revenue and profits and introduces new revenue stream. The management is also positive about the guidance.
Moreover, the company also announced plans to sell advertisers access to its user base, indicating potential for accelerated user growth with increased sales and marketing investments.

Revenue increased by 33% to $305 million, with subscription revenue up 52%. Achieved positive adjusted EBITDA of $20.6 million and reduced net loss by $63.5 million.

2. $MEGAPORT LTD(MP1.AU)$ surges 60% after robust earnings update

Megaport's stock jumps 27% following a robust quarterly update on January 30, 2024.
The company reported a 5% increase in quarterly revenue to $48.6 million, with annual recurring revenue also rising by 1%.
Additionally, the announcement of a new $4.2 million contract with a US-based healthcare customer over three years further fueled investor confidence.
Moreover, a rally that squeezed short-sellers contributed to the uptick in share prices.

3. $ALUMINA LTD(AWC.AU)$ jumps 56% after $2.2 bln takeover bid

In March, Alcoa disclosed its intention to acquire Alumina through an all-stock transaction, valuing the Australian company at $2.2 billion.
Following the announcement of the deal on Monday, Alumina's shares surged by up to 10.4%, reaching their peak levels since August 2023.

4. $A2 MILK CO LTD(A2M.AU)$ climbs up 46% after strong half-year results

A2 Milk has been climbing since January.
In Feb., it reported strong half-year results, a 3.7% revenue increase to NZ$812.1 million and a 15.6% rise in net profit after tax to NZ$85.3 million, surpassing expectations.
The company also upgraded FY24 revenue guidance. Management raised its FY24 revenue forecast to low to mid single-digit growth, indicating confidence in future performance.

5. $ALTIUM LTD(ALU.AU)$ adds 39% on $9.1 billion bid

Japanese semiconductor company Renesas Electronics announced it will acquire Altium for $9.1 billion in cash, marking one of the largest software deals in Australian history.
Altium's board unanimously endorsed Renesas' bid of $68.50 per share. The stock surged 28% to $66 on the news.

Can We Expect More Gains in Q2?

S&P 500 is poised for a nearly 10% price gain in the first quarter, with a remarkable 30% rally from its October 27 low. This strong start has prompted investors and strategists to consider market correction. However, data from 1970 suggests that such strong beginnings often indicate a continuation of the rally, with the S&P 500 historically showing an average first-quarter gain of 2.5%. When the index outperforms this, the second quarter typically sees an even higher gain. ----------------- How do you expect the performance in the rest of the year?

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