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Why these 4 ASX shares stormed higher today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is having a solid day after positive comments out of China’s President Xi in Boao. In afternoon trade the benchmark index is up 0.8% to 5856 points.

Four shares that have climbed more than most today are listed below. Here’s why they have stormed higher:

The Digitalx Ltd (ASX: DCC) share price is up 6% to 17.5 cents after the blockchain-based software solutions company announced the launch of its funds management business, DigitalX Investments. According to the release, DigitalX Investments will invest predominantly in the leading cryptocurrencies, with a smaller allocation towards special trading opportunities including ICOs.

The Livetiles Ltd (ASX: LVT) share price has climbed 8.5% to 45 cents after The software company provided an update on its performance in the March quarter. According to the release, annualised subscription revenue reached $11.2 million at the end of the quarter, up from $2.7 million 12 months ago. This represents growth of 315% on the prior corresponding period and is almost 7x the software-as-a-service industry average.

The Pilbara Minerals Ltd (ASX: PLS) share price is up 3% to 82 cents. This afternoon the lithium miner advised that it has made excellent progress towards achieving its first direct shipping ore (DSO) sales from its Lithium-Tantalum Project in Western Australia. According to the release, all conditions precedent to its mine gate sale agreement with Atlas Iron Limited (ASX: AGO) have been satisfied, including the receipt of the US$3 million pre-payment required to help fund the establishment costs associated with the DSO program.

The WiseTech Global Ltd (ASX: WTC) share price has jumped 5.5% to $10.02. This morning the company’s shares were given a lift after Citi took their sell rating off them. The broker has upgraded WiseTech’s shares to a neutral rating with a $9.51 price target. Although this is lower than the current share price, investors appear to be interpreting this as a sign that its shares have now bottomed.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of WiseTech Global. 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 Scott Phillips.

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