After a strong start to the day the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has faded in afternoon trade. At the time of writing the benchmark index is up slightly at 6,000 points.
Four shares that have climbed more than most today are listed below. Here's why they surged higher:
The Digitalx Ltd (ASX: DCC) share price is up 11% to 25.5 cents. The blockchain technology company's shares were as much as 30% higher at one stage after it announced plans to return to the cryptocurrency market place as a market maker on approved cryptocurrency exchanges.
The ELMO Software Ltd (ASX: ELO) share price is up almost 3% to $3.70 after announcing the acquisition of Sky Payroll. ELMO will acquire the cloud-based payroll software solution provider for a consideration of $1.4 million.
The Kogan.com Ltd (ASX: KGN) share price is up 3% to $4.85. This morning the online retailer advised that it has signed a three-year agreement with Medibank Private Ltd (ASX: MPL) to sell budget health insurance under a newly created Kogan Health brand. Underwriting will be provided by Medibank, with Kogan set to earn commissions on sales of all insurance policies.
The MMJ Phytotech Ltd (ASX: MMJ) share price is up 5% to 43 cents. Investors have reacted positively to news that the medicinal cannabis company has made a strategic investment in Canada-based Weed Me Inc. Weed Me is targeting entry into the estimated C$8 billion Canadian medical and recreational market in 2018 as a high quality and large-scale cannabis producer.