6,000 here we come. Next week. Maybe…
Ok, so the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) gained 0.4% today, rising to 5,975.5, not far off the psychologically important but otherwise unimportant 6,000 mark.
These six small cap stocks soared on the market today…
Graphite and vanadium miner Triton Minerals Ltd (ASX: TON) rocketed up 78.6% to 25 cents, after the company confirmed that Triton’s Mozambique Graphite (TMG) can be expanded up to 1,000 times. The results confirm the high quality of Triton’s graphite, which can demand premium prices thanks to strong market demand. Clearly a positive for Triton.
Covata Ltd (ASX: CVT) posted a 16.3% gain to close at 46.5 cents. The company announced strategic partnerships with both New York-based consulting firm Sumatics and Asia Principal Capital Group (APCG). Shares are up 42% in the past week, after the company also reported more positive news earlier this week, as we noted here.
Ziptel Ltd (ASX: ZIP) rose 11.6% to 48 cents, and has now gained 78% since the beginning of the year. Despite no news from the company today, Ziptel is one hot stock. The company has developed a communications app that allows users on very low-bandwidth mobile networks to send and receive chat, SMS and email messages. A number of companies are using the Ziptel app as a ‘white label’ solution, i.e. to rebrand it as their own, but pay Ziptel for use.
Nearmap Ltd (ASX: NEA) gained 10.0% to 55 cents, after The Australian today reported that the company had dropped its action against Spookfish Limited (ASX: SFI). Nearmap had reported that it had dropped the case in an ASX announcement yesterday. Now the company is clear to focus on its US expansion, and building up its profitable Australian operation. Clearly the aerial photomapping company doesn’t think it’s worthwhile pursuing Spookfish.
1-Page Ltd (ASX: 1PG) added 4.1% to close at $2.01. Shares have rocketed up 70% since the start of the year, as the company continues to announce potentially profitable agreements, including Amazon, Accenture and Fitness First in Australia, to use 1PG’s job seeker and hiring solutions.
Ainsworth Game Technology Limited (ASX: AGI) closed at $2.90, up 5.5%. The poker machine manufacturer’s share price is still down 30% since a year ago, as the company has struggled to maintain its phenomenal growth of the past few years. In the latest half, revenues fell 8%, and net profit was down 3%. Of major concern was a 34% fall in domestic revenue.
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Tip: I recently topped up on this stock at prices not far off today's price. You might want to consider it too.
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Motley Fool writer/analyst Mike King owns shares in Nearmap. You can follow Mike on Twitter @TMFKinga