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Here’s why these 3 stocks have been rocketing higher today

An internet start-up, an east-African minerals explorer and a junior healthcare business have all been making waves of on the ASX today.

Moreover, it’s fair to all three have genuine credentials to rocket higher in the future and while it’s far from certain they will deliver, they are worth a closer look.

Freelancer Ltd (ASX: FLN)

The world’s largest freelancing, outsourcing and crowdsourcing website has big ambitions to become a futuristic global marketplace for digital freelancers worldwide. Through its marketplace, employers can hire individuals to complete digital jobs such as website design, software development or writing and data entry tasks.

After the group hit the ASX boards in 2013 some wild excitement saw the shares shoot up to more than $1.80, however, they’ve now settled down to 70 cents. The business has been investing heavily on growing its scale, but only posted revenues of $11.9 million for the first half of FY 2014. If you’re a believer in the Freelancer story you’d likely be a buyer at today’s prices, however, if you’re unconvinced you might prefer to look elsewhere.

Somnomed Limited (ASX: SOM)

Is another story stock that has been going great guns since reporting record breaking sales growth of its mouth-guard like device used to treat sleep apnea in patients. The product known as SomnoDent is marketed as the most comfortable and design effective treatment for patients who from suffer from some form of sleep disorder.

Shares have more than doubled in value in 2014 and at $2.60 investors are prepared to pay a very high price for a slice of this story stock. It might be advisable to keep this one on the watchlist until some of the heat comes out of the valuation.

Triton Minerals Ltd (ASX: TON)

WA-based gold and graphite explorer, Triton Minerals, today saw its valuation climb more than 28% to 40.5 cents per share after it announced the discovery of the world’s largest graphite and vanadium deposit in Mozambique, east Africa.

In days gone by graphite was commonly prized for its use in pencils, but now it has industrial uses in batteries that are required to power the modern-day pencils of laptops, mobile phones, and tablets.

With demand set to support graphite prices, Triton now has to get down to the real business of developing and then monetising its east-African prospects. Investors along for the ride can expect some big price volatility as the story develops.

All three of the businesses above look interesting prospects, but they haven’t really developed any serious competitive advantages and are far off consistently growing profits year after year.

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Motley Fool contributor Tom Richardson has no financial interest in any company mentioned. You can find him on Twitter @tommyr345

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