Today’s ASX top stocks: Sezzle (SZL ↑16.8%), Codan (CDA ↑16.5%)

Posted: 25 January 2022 12:33 pm
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The 10 biggest movers on the ASX.

The best performing stocks on the ASX so far today were Sezzle (SZL, up 16.8%) and Codan (CDA, up 16.5%).

Biggest movers on the ASX Tuesday 25 January 2022

Sezzle (SZL) was the biggest mover on the ASX today.

Shares in the company rose 16.8% to $2.50.

This was on the back of a takeover bid.

Investors heard today that Zip Co is looking to acquire Sezzle.

While it hasn't provided details in terms of price and how Zip Co will purchase the rival BNPL company, investors saw it as a positive, buying up Sezzle shares.

The Zip Co board commented: "Zip confirms it is in discussions with Sezzle in relation to a potential acquisition. Zip is always interested in pursuing options that are in the best interests of shareholders; however, the discussions with Sezzle are preliminary in nature and there is no certainty that the discussions will result in a transaction of any kind."

As of the morning trading, Sezzle was yet to make an announcement.

Sezzle works in the software and services sector.

Learn more about investing in Sezzle in Finder's full guide.

Another strong performer was Codan (CDA), the technology, hardware and equipment company. Its shares rose 16.5% to reach $9.75.

Codan Limited lifted on the back of a strong first half result.

The unaudited sales achieved in the first half of FY22 were $257 million, representing an increase of 32% over the prior corresponding period. The net profit after tax is expected to be around $50 million, an increase of 21%.

The company pointed to a stronger future as well, that they can overcome global supply chain distributions.

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

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Here's a fuller list of the biggest movers on the market so far today.

StockPrice% change
Sezzle (SZL)$2.5016.8%
Codan (CDA)$9.7516.5%
VGI Partners (VGI)$4.988.3%
The a2 Milk Company (A2M)$5.497.9%
K&S Corporation (KSC)$1.704.9%
Betmakers Technology Group (BET)$0.654.8%
Heartland Group Holdings (HGH)$2.304.5%
Avita Medical (AVH)$2.774.5%
Aroa Biosurgery (ARX)$0.863.6%
AV Jennings (AVJ)$0.603.4%

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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.

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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.

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