ASX best day in 2 weeks, Bingo rallies on takeover, Tyro rebuts short thesis

Stocks bounced back today in solid fashion with the retailers the shining light, our note this morning clearly a topical one however it was some of the other names in the space that caught my attention. Adore Beauty (ABY) has been a struggle since listing last year however a good session today saw it up 6.55% to close at $5.86, while Dominoes (DMP) enjoyed a broker upgrade and rallied +7.97% to close at $89.59. All in all, a solid session with the buying broad based, only 10% of the ASX 200 finished the session down and it was the recently hot stocks that suffered at the hands of some profit taking. Bingo (BIN) was a standout after announcing takeover interest – we used to hold this and like the stock – frustratingly we don’t hold it currently – while Tyro (TYR) put out a good rebuttal to the short thesis published last week.

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