In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is just about keeping its head above water and is up just over 0.1% to 6,023 points.
Four shares gaining more than most today are listed below. Here’s why they have climbed higher:
The Digitalx Ltd (ASX: DCC) share price is up 8% to 33.5 cents. The blockchain company’s shares have fallen sharply this week following the sell-off in cryptocurrencies. But with the bitcoin price rebounding today, investors have returned to DigitalX as well. I suspect that the DigitalX share price will be one of the more volatile on the market over the coming weeks as cryptocurrencies come under scrutiny from regulators.
The Livetiles Ltd (ASX: LVT) share price has jumped 18% to 53 cents following the release of its latest quarterly update. During the quarter annualised subscription revenue reached $6.9 million, up from $2 million from the prior corresponding period. This equates to impressive annual subscription revenue growth of 245%. I think LiveTiles is one of the most exciting tech shares on the local share market right now and worth a closer look.
The Netwealth Group Ltd (ASX: NWL) share price is 6% higher to $6.48. This morning the financial services company reported a 13% quarter-on-quarter increase in funds under administration (FUA) to $15.4 billion. Year-on-year this translates as 58% growth in FUA. Netwealth’s award-winning platform is currently rated as Australia’s top platform for functionality and overall satisfaction.
The Sirtex Medical Limited (ASX: SRX) share price is almost 3% higher at $18.31. This morning the regenerative medicine company was given a lift after CLSA upgraded its shares to an outperform rating following its recent trading update. The broker appears pleased to see that Sirtex upgraded its EBITDA guidance to between $75 million and $85 million, compared to previous guidance of $61.5 million.
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended LIVETILES FPO. 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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