The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) may be lower today but that hasn’t stopped some small cap shares from pushing higher.
Three on the rise today are listed below. Here’s why they are on the up:
The Brainchip Holdings Ltd (ASX: BRN) share price has climbed 3.5% to 14.5 cents after the artificial intelligence company provided an update on its license and development agreement with Gaming Products International. According to the release, Brainchip has received positive feedback from customers after demonstrating its automated table solution in Macau. The solution, which provides the flexibility necessary to meet the evolving technology requirement for data analytics in the gaming industry, will soon go live on a casino floor for trials. While the technology is exciting, I wouldn’t be a buyer of its shares on the back of this announcement. I would suggest investors wait to see if its technology is adopted by major casinos before considering an investment.
The Liquefied Natural Gas Ltd (ASX: LNG) share price is up almost 6% to 55 cents after advising that it has extended the validity period of its current binding engineering, procurement, and construction contract with KSJV for its Magnolia LNG project. According to the release, the binding lump sum turnkey US$4.354 billion contract is now valid through to December 31, 2018. Management believes the Magnolia LNG project is well positioned to lead the next generation of U.S. LNG export.
The Prophecy International Holdings Limited (ASX: PRO) share price has surged over 7.5% higher to 49 cents after the software developer provided a business update. According to the release, Prophecy’s strategy of growing the business and achieving scale through partnerships is delivering results. New partners have led to Prophecy adding a number of significant brand name customers during the last quarter including Metropolitan Police in the UK, Royal Bank of Canada, VISA Europe, Boeing, Red Cross, and Raytheon. While this all sounds very promising, it is worth noting that no financial details were provided. Because of this, I would wait for its results before considering whether to invest or not.
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 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.