Today’s ASX top stocks: Lark Distilling Co. (LRK ↑21.9%), Challenger (CGF ↑11.3%)

Posted: 7 July 2021 12:03 pm
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The 10 biggest movers on the ASX.

Top performer badges for ASX trading so far today go to Lark Distilling Co. (LRK, up 21.9%) and Challenger (CGF, up 11.3%).

Top movers on the ASX Wednesday 7 July 2021

Tasmanian whisky maker Lark Distilling Co. (LRK) was the standout mover on the ASX today. Shares in the company rose 21.9% to $3.95.

"Shares in Lark Distilling have risen more than 300% over the last 12 months," said Finder's investments editor Kylie Purcell.

Previously known as Australian Whiskey Holdings, Lark Distilling Co. works in the food, beverage and tobacco sector.

"The company's stock price rose sharply Wednesday after Lark released an update to investors that indicated the company is undervalued. The crux of it is that the value of Lark's maturing whisky is set to rise 55% year-on-year by 2022, according to the distillery."

Learn more about investing in Lark Distilling Co. in Finder's full guide.

The second place for market gainers went to Challenger (CGF), the diversified financials company. It rose 11.3% to reach $6.09.

"Investors were pleased by the news that private equity firm Apollo Global Management and US retirement services company Athene Holding have taken an 18% stake in Challenger," said Purcell.

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

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Here's today's list of the 10 biggest ASX movers so far:

StockPrice% change
Lark Distilling Co. (LRK)$3.9521.9%
Challenger (CGF)$6.0911.3%
My Food Bag Group (MFB)$1.368.8%
Grange Resources (GRR)$0.678.1%
Nuix (NXL)$2.506.4%
Cettire (CTT)$2.705.1%
Whispir (WSP)$2.745.0%
Universal Store Holdings (UNI)$7.374.8%
West African Resources (WAF)$1.104.8%
Resimac Group (RMC)$2.454.7%

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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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