4 ASX stocks smashing the ASX today

The S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) has lost 0.4%, dropping to 5,577 at the close on Monday. The big four banks were all down, and a number of other large cap stocks went ex-dividend today.

Here’s our view of four companies thrashing the market today…

Scantech Limited (ASX: SCD) provides a number of products to miners to monitor the quality of ore such as iron ore and coal, and today saw its share price soar 33.3% to 60 cents. A fairly illiquid stock, just 19 trades were made in the stock today, perhaps the major reason for the price move. The company’s most recent results weren’t great – a net loss after tax, but the company is confident in the future.

Valence Industries Ltd (ASX: VXL), a resources company, is attempting to restart production at its Uley Graphite Mine in South Australia. Shares have soared 15.3% today to 82 cents. The company released its annual report on Friday, which noted that its recent drilling program has identified significantly higher grades with the potential to significantly increase production capacity.

Panorama Synergy Limited (ASX: PSY) continues its strong run, rising 15% today to 46 cents. The company has now risen 91% since last week! The reason appears to be investors having fallen in love with the company’s business – micro machines which the company says represent the ‘things’ in the ‘Internet of Things’.

RedFlow Ltd (ASX: RFX) gained 7% today to close at 30 cents, and shares are up 39% since last week. Redflow has developed a zinc-bromine battery that could have major implications for the renewable energy sector. Last week, RedFlow announced an agreement with Blue Sky Energy to offer European clients the Redflow battery.

All of these companies are highly speculative, with all but Scantech yet to make a profit – but that doesn’t mean they can’t be successful in future. The major risk is that they fail to live up to their potential.

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These stocks may be too speculative for you, however our top analyst, Scott Phillips, recently identified one cheap but growing ASX stock with a 6.6% grossed-up dividend yield which I think is a STANDOUT buy today. If you're interested in knowing its name, just click on the link below, enter your email address and we'll send you the FREE report on his top dividend stock idea for 2014 - 2015 right away!

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Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga

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