It has been a solid day so far for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) and in afternoon trade the benchmark index is up 0.3% to 5,755 points.
Four shares in particular have stood out with strong gains today. Here's why their respective share prices have surged higher:
Brainchip Holdings Ltd (ASX: BRN) shares have jumped 5% to 30.5 cents after the artificial intelligence company announced that its SNAP technology is now being used by another casino in the United States. Whilst I believe the impressive technology has significant potential, it might be too soon to invest in the company.
Bubs Australia Ltd (ASX: BUB) shares have continued their meteoric rise with a 51% gain to 31 cents. The infant formula manufacturer has more than tripled in value since listing on the ASX on Tuesday. With an impressive board and several notable backers, Bubs is certainly one to keep a very close eye on.
St Barbara Ltd (ASX: SBM) shares have risen almost 5% to $2.20. Not only did the gold producer receive a boost from a jump in the spot gold price, but it also received a rating increase from Standard & Poor's. The ratings agency has given St Barbara a B+ rating with a stable outlook. The agency noted St Barbara's strong balance sheet and net cash position of $40 million. No existing debt arrangements will be impacted by the change.
Vocus Communications Limited (ASX: VOC) shares have surged higher by almost 4% to $4.20 despite there being no news out of the telco company. With its shares changing hands at 13x trailing earnings I firmly believe that Vocus is an absolute bargain buy. As a result I'm not at all surprised to see investors piling in today.
