MENU

These 3 shares are off to a flying start for 2018

These three shares enjoyed sold gains to kick off the first day of trading for 2018.

SportsHero Ltd (ASX: SHO)

SportsHero Ltd shareholders enjoyed a staggering start to 2018 as the stock gained 55 per cent on the first day of trade for 2018.

SportsHero Ltd, previously operating under the name of Nevada Iron Limited, intends “to build the world’s largest social community dedicated to sports”.

The social media company’s share price went from 10 cents on Tuesday to finish the day at 15.5 cents, prompting the ASX to query the sharp rise.

SportsHero Ltd did not provide the ASX with a direct answer for the rapid ascent of its share price and instead referred the ASX to a series of previous announcements made by the company.

The announcements included new appointments and a statement from SportsHero saying that it had “formed a collaboration with global cryptocurrency platform Pundi X”.

As part of the collaboration, subject to agreement of definitive terms, Pundi X would integrate SportsHero’s as yet undeveloped new token into its cryptocurrency platform.

Although SportsHero appears to be a highly speculative buy investors seem to be willing to take a punt on the company which has seen its share price triple over the past year.

Alicanto Minerals Ltd (ASX: AQI)

Alicanto Minerals was another company which enjoyed a rapid rise on Tuesday, sparking questions from the ASX.

The mineral explorations company’s share price shot up by more than 53 per cent to 21.5 cents.

When asked by the ASX to explain the sharp incline Alicanto Minerals also did not provide an explanation.

The company is hoping to cash in on gold reserves in South America.

Alicanto Minerals reported a loss for financial year (FY) 2017 of about $1.2 million.

Om Holdings Limited (ASX: OMH)

The Om Holdings share price is continuing its charge into 2018, gaining more than 11 per cent on Tuesday.

Om Holdings shareholders have now enjoyed gains of almost 550 per cent over the past year.

The investment holding company and manganese-focused producer, with a market value of about $711 million, is a vertically integrated operation, headquartered in Singapore, with a marketing business in addition to a manufacturing business in China.

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We're living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That's why at The Motley Fool we've been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

We've found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor Steve Holland has no position in any of the stocks mentioned. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.