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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.

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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.

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