Why these 3 small cap shares are storming higher today

The local share market may have given back its early gains and dropped notably lower, but that hasn’t stopped three small cap shares from storming higher.

Here’s why they are amongst the biggest movers on the market today:

The Livetiles Ltd (ASX: LVT) share price has climbed 6% to 44 cents after the software company announced a partnership with the New York government to establish a North American Intelligent User Experience (IUX) Hub in Rochester, New York. Management advised that the Hub will house a team of 60 new LiveTiles’ staff members and expects it to help drive its North American expansion. New York’s state and local governments have approved a funding package of up to US$7 million to support LiveTiles’ growth in the region, with US$1.5 million due over the next 12 months. I think this is a positive development and it will be interesting to see how it impacts its sales growth in FY 2019.

The Mitula Group Ltd (ASX: MUA) share price is up 6% to 44.5 cents after the classifieds company provided a trading update. According to the release, Mitula has continued to build on its record first-quarter and posted record monthly revenue of $3.8 million in April 2018. This was a 44.7% increase on the prior corresponding period and 8.6% higher than the month of March. Things certainly appear to be improving for Mitula, but I’d need to see this run continue for some time to come before I would consider it as an investment.

The Hydroponics Company Ltd (ASX: THC) share price has pushed 5% higher to 70.5 cents after the medicinal cannabis company advised that it has entered into a binding term sheet for the exclusive leasing rights of organic certified land in northern New South Wales. The company intends to use the land to grow medicinal cannabis, subject to necessary statutory and regulatory approvals. In addition to this, management has agreed to enter an off-take agreement for the use of its medicinal cannabis in Meluka Honey products. No financial terms have been disclosed.

Missed these gains? Then don't miss these small cap shares I'm tipping to be market-beaters.

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 James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Mitula Group. 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.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…


The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!