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Why these 4 ASX shares are rocketing higher today

Credit: Arnoldas Mob

The S&P/ASX 200 (Index: ^AJXO) (ASX: XJO) is trading marginally lower today, although several small-cap businesses are soaring higher on the back of improved sentiment or market updates. Let’s take a look at what may be behind the price action in some of today’s top movers.

Volpara Health Technologies Ltd (ASX: VHT) shares rocketed 7 cents or 20% to 43 cents today as this newly-listed digital health specialist in the treatment of breast cancer enjoys a strong start to life as public company. It reportedly has a strong management team and several software products that are sold to breast cancer treatment centre managers. It has a potentially long growth runway ahead of it and is a hot healthcare stock to watch.

Vmoto Ltd (ASX: VMT) is the electric scooter business hoping to grow sales of its vehicles into the scooter-mad markets of Asia. The shares are up 21% to 20.5 cents today, although they’re down 57% over the past year as sales fail to take off as hoped. Today’s buying is probably the result of bargain hunters snapping up the stock in the belief it has crashed too far.

1-Page Ltd (ASX: 1PG) is the digital recruitment specialist that takes its name from the fact that its products help companies assess potential recruits’ CVs on just one page. Investors might want that one page to cover their eyes right now with the stock down 75% in 2016, although today it has rebounded 5.6% to 85 cents as bargain hunters snap it up in the belief 1-Page might escape the shredder yet.

Somnomed Limited (ASX: SOM) shares are up 11 cents to $2.91 after the sleep treatment medical device business recently raised $10.5 million at a discounted $2.50 per share to support its future growth ambitions. The company wants to roll out a network of US medical centres to directly sell its SomnoDent product in an attempt to enhance its medium term growth. Its device sales are already growing strongly in the US and this looks an exciting small-cap stock for the top of the watch list.

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Motley Fool contributor Tom Richardson has no position in any stocks mentioned.

You can find Tom on Twitter @tommyr345

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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