It certainly has been a great day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). Thanks to gains in almost all sectors, the benchmark index is up 1% to 5,808 points today.
Four shares which have made notably strong gains today are listed below. Here's why they've stormed higher:
The Ardent Leisure Group (ASX: AAD) share price has jumped almost 5% to $1.71 even though there has been no news out of the embattled entertainment company. Despite today's gain I still think Ardent Leisure is one of the biggest bargains on the ASX at the moment. Especially with the growth potential that its US-based Main Event segment provides.
The Aconex Ltd (ASX: ACX) share price is up almost 7% to $3.66 despite there being no news out of the software-as-a-service company. With its share price down sharply over the last six months, it appears as though bargain hunters may be picking up shares on the cheap today. Although its high short interest is a concern, I do believe Aconex has a bright future that makes it an interesting buy and hold investment option.
The Mantra Group Ltd (ASX: MTR) share price has climbed 8% to $2.81 after The Australian once again speculated that the leading accommodation provider could be the subject of a takeover approach. Last week InterContinental Hotel Group were rumoured to be interested, this week it is Marriott International. The company has responded by confirming that it is not in discussions with any potential buyers.
The Quintis Ltd (ASX: QIN) share price has jumped 11% higher to $1.23. The sandalwood plantation manager was targeted by short sellers last week, alleging that the company had a Ponzi-like structure and faces bankruptcy. In a surprising turn of events, this morning the company announced that managing director Frank Wilson has resigned to partner with a potential buyer. Despite the prospect of a takeover approach, this is one company I would avoid at all costs.
