The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has continued its strong run and is up a further 0.8% to 5,892 points in early afternoon trade.
Four shares which have made notably stronger gains today are listed below. Here's why they have surged higher:
The Bellamy's Australia Ltd (ASX: BAL) share price is up almost 4% to $11.42 despite there being no news out of the organic baby food and formula company. Bellamy's shares have now risen over 30% since last week's full-year profit upgrade announcement. I feel that its shares are looking a touch overvalued now.
The Challenger Ltd (ASX: CGF) share price is up 5% to $13.14 after the investment management company provided a quarterly update. According to the release, Challenger's total group assets under management was $73.5 billion as of the end of September 2017, up 5% on the previous quarter.
The Mobecom Ltd (ASX: MBM) share price has had a strong start to life on the ASX and is up 37.5% to 27.5 cents. The marketing tech start-up raised $5 million at 20 cents per share from the listing and will use the funds to roll out its digital currency solution, airBux, in 2018. Management believes the airBux platform puts Mobecom in a position to leverage the growth of cryptocurrency markets and blockchain technologies in the coming years.
The Sigma Healthcare Ltd (ASX: SIG) share price has climbed 5% to 87.2 cents following the release of a positive update on its dispute with My Chemist/Chemist Warehouse Group (MC/CW). According to the release, MC/CW has agreed not to procure certain products from a different supplier until the end of its current agreement. While it is a positive development, there's no guarantee that MC/CW will stick around when the agreement expires in 2019.