Why DroneShield, Novonix, Predictive Discovery, and Weebit Nano shares are charging higher

The S&P/ASX 200 Index (ASX: XJO) is having a mixed start to the week. At the time of writing, the benchmark index has slipped into the red and is down slightly to 8,984.8 points.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

DroneShield Ltd (ASX: DRO)

The DroneShield share price is up 3% to $5.85. Investors have been buying this counter drone technology company's shares this month amid optimism that it could be a big winner from plans in Europe. The European Union's Defence Commissioner, Andrius Kubilius, revealed plans to build a "drone wall" along the eastern flank. This will integrate detection, tracking, and interception to counter hostile UAVs. This follows a spate of recent airspace violations.

Novonix Ltd (ASX: NVX)

The Novonix share price is up 23% to 58.5 cents. This could be a delayed reaction to news out of the battery materials and technology company last week. Novonix revealed that it achieved a critical milestone after delivering its first mass production, commercial-grade sample of synthetic graphite for industrial applications. Management noted that this delivery was made to one of North America's largest value-added carbon processors with a global market reach. Novonix's CEO, Mike O'Kronley, said: "We're pleased to have hit this significant manufacturing milestone. This demonstrates that industrial-grade products can be produced using NOVONIX's proprietary continuous graphitization furnace technology at a mass production scale and is another step towards bringing our battery-grade materials to market."

Predictive Discovery Ltd (ASX: PDI)

The Predictive Discovery share price is up over 13% to 50 cents. Investors have been buying the gold miner's shares after it announced a merger with Canada's Robex Resources (ASX: RXR). It notes that this creates West Africa's next mid-tier gold producer by combining two of the continent's largest, lowest-cost, and most advanced projects. Predictive Discovery's CEO, Andrew Pardey, said: "By combining two of West Africa's largest and most advanced gold development projects and leveraging the proven track record of both management teams in Africa, we are creating a company that positions Guinea to become one of Africa's top five gold producers. The new, diversified company will not only further de-risk our flagship Bankan Project, but also deliver enduring value for shareholders, the communities where we operate and Guinea as a whole."

Weebit Nano Ltd (ASX: WBT)

The Weebit Nano share price is up 4% to $3.72. This morning, this semiconductor company announced that it has successfully taped-out (released to manufacturing) test chips featuring its embedded ReRAM module at Onsemi's 300mm production fab in New York. Weebit Nano's CEO, Cody Hanoch, said: "Our collaboration with onsemi is progressing rapidly, and this successful tape-out marks a major milestone in completing the technology transfer of Weebit ReRAM to onsemi's advanced BCD process."

The post Why DroneShield, Novonix, Predictive Discovery, and Weebit Nano shares are charging higher appeared first on The Motley Fool Australia.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended DroneShield. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended ON Semiconductor. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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