Why these 3 small cap shares are storming higher today

The Titomic Ltd (ASX:TTT) share price is one of three storming higher in the small cap space today. Here's why…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX Small Ordinaries (Index: ^AXSO) (ASX: XSO) has had a solid start to the week. At lunch the small cap index is up 0.3% to 2,830.5 points.

Three small caps that have stood out with solid gains today are listed below. Here's why they are on the up:

The Base Resources Limited (ASX: BSE) share price has pushed 6% higher to 26.5 cents. Today's increase is likely to be related to a change of director's interest notice which was filed this morning. According to the notice, non-executive director Ms Diane Radley was busy buying shares last week. She picked up 500,000 shares through on-market trades between May 9 and May 11 for an average price of 25 cents per share.

The Specialty Fashion Group Ltd. (ASX: SFH) share price has rocketed 50% higher to 57 cents after receiving an approach from Noni B Limited (ASX: NBL) for some of its assets. According to the release, Noni B has agreed to acquire the assets and businesses of Millers, Katies, Crossroads, Autograph and Rivers from Specialty Fashion for total consideration (on a cash free, debt free basis) of $31 million in cash. Specialty will retain the City Chic business. Although the businesses are making a loss at the moment, Noni B's management appears confident that it understands why this is happening and expects to turn things around successfully.

The Titomic Ltd (ASX: TTT) share price has surged almost 17% higher to $2.77 after the release of its second major announcement in the space of a week. Following last week's deal with Callaway Golf, this morning Titomic announced a memorandum of understanding with Italian shipbuilder Fincantieri Australia. The 12-month agreement will see Fincantieri evaluate the use of Titomic Kinetic Fusion in its manufacturing activities. I think this latest agreement highlights how promising Titomic's technology is.

Motley Fool contributor James Mickleboro 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 Scott Phillips.

More on ⏸️ Investing

A white and black robot in the form of a human being stands in front of a green graphic holding a laptop and discussing robotics and automation ASX shares
Technology Shares

Joining the revolution: How I'd invest in ASX AI shares right now

Advances in artificial intelligence (AI) could usher in a new industrial revolution. Here’s how you can invest in it.

Read more »

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »