Today’s ASX top stocks: Medical Developments International (MVP ↑28.2%), Core Lithium (CXO ↑12.0%)

Posted: 2 March 2022 12:18 pm
News
Stock-up-02March22_1800x1000_Finder

The 10 biggest movers on the ASX.

The best performing stocks in ASX trading so far today were Medical Developments International (MVP, up 28.2%) and Core Lithium (CXO, up 12.0%).

Stand-out performers on the ASX Wednesday 2 March 2022

Medical Developments International (MVP) was the stand-out mover on the ASX today, with the company going up 28.2% to $4.37.

In an announcement to the ASX, Medical Development International told the market that it was starting the Phase III US clinical trial for its green whistle technology.

Anyone who has broken a bone might be familiar with the product.

Much like how it is currently used in Australia, the trial will be conducted on trauma and associated pain patient groups. It is expected to commence in late 2022.

CEO Brent MacGregor said: "We are thrilled with this news which allows us to move forward quickly with preparations for our clinical trial. After years of hard work, our team is buoyed by the prospect of bringing the many benefits of Penthrox to the US market. This will strongly complement our growing Penthrox success in Europe, and fully supports our further investment in the product."

Learn more about investing in Medical Developments International in Finder's full guide.

The second place for market gainers went to Core Lithium (CXO), the materials company. Its shares rose 12.0% to reach $0.93.

Australian Core Lithium has seen its share price rise on the back of a deal with US electric car manufacturer Tesla. Lithium is a core part of electric vehicles, with a surge in sales leading to a growing need for the raw product.

Core Lithium said it would supply Tesla with up to 110,000 dry metric tonnes of spodumene concentrate from its flagship Finniss Project in Australia's Northern Territory over 4 years.

Find out more about investing in Core Lithium in Finder's full guide.

Switch online brokers and save

Did you know you can save $1,046 in brokerage fees every year on average by switching to a cheaper share trading platform? Check out fees and features in our comparison table to find a better deal today.

The top 10 biggest movers on the ASX so far today were the following:

StockPrice% change
Medical Developments International (MVP)$4.3728.2%
Core Lithium (CXO)$0.9312.0%
Carnaby Resources (CNB)$1.8411.5%
Incannex Healthcare (IHL)$0.739.0%
Grange Resources (GRR)$1.088.0%
AngloGold Ashanti (AGG)$6.687.7%
Polynovo (PNV)$1.176.4%
OceanaGold Corporation (OGC)$2.726.3%
Coronado Global Resources (CRN)$1.805.9%
Liberty Financial Group (LFG)$5.325.6%

Serious about investing? Here's your new unfair advantage

Ticker Nerd uses advanced software to track hundreds of signals and data points to find stocks before they blow up. Don't miss out!
Get started for free

Each weekday we round up the best performing stocks on the Australian Securities Exchange (ASX), ranked by price percentage from market open to 11am. To avoid higher price volatility we only include stocks with market caps of more than $200 million. Price changes are calculated by 11am on the trading day, but these prices may be subject to minor variation depending on data availability.

Need a better share trading platform? Check out Finder's full review of the best online brokers in Australia right now.

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

Get more from Finder

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site