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Why these 4 ASX shares have started the week with a bang

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a positive start to the week and is up a solid 0.5% to 5,985.6 points in afternoon trade.

Four shares that have climbed more than most today are listed below. Here’s why they have started the week with a bang:

The Cann Group Ltd (ASX: CAN) share price has rocketed 18% to $3.53 after the company confirmed that it has had very early discussions with Canadian cannabis giant Aurora Cannabis about a possible transaction. Management has warned shareholders that the discussions may not ultimately lead to a takeover offer being made. The AFR has suggested that a deal might be done at $4.50 per share, valuing the medicinal cannabis company at $500 million.

The Galaxy Resources Limited (ASX: GXY) share price has emerged from its trading halt and climbed over 4% higher to $3.00. Galaxy’s shares went into a trading halt this morning whilst it prepared to respond to media speculation. This afternoon the lithium miner confirmed that it is has hired JP Morgan to evaluate strategic options for its Sal de Vida operation in Argentina.

The iSelect Ltd (ASX: ISU) share price has continued its recovery and is up over 11% to 56.7 cents. The price comparison company’s shares were crushed last week after it provided a disastrous trading update that shocked the market. Some bargain hunters appear to believe that its shares have fallen to an attractive level.

The Updater Inc (ASX: UPD) share price jumped almost 4% to $1.14 after the relocation platform provider released its quarterly update. According to the release, the US-based tech company has had a solid quarter and saw promising results from new revenue generating verticals. As a result, management is confident that it will achieve its target of US$19 million in revenue during the current calendar year.

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Motley Fool contributor James Mickleboro owns shares of Galaxy Resources Limited. 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 Scott Phillips.

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