The Australian share market may have fallen by a further 1% on Thursday, but the negative sentiment hasn’t been able to hold back all shares.
Three small caps carving out solid gains today are listed below. Here’s why they are climbing higher:
The Fastbrick Robotics Ltd (ASX: FBR) share price has continued its rise and is up a further 3% to 16.5 cents. On Wednesday the robotics company announced a global partnership with European block-making giant Wienerberger AG. The partnership agreement will see the two companies working together to develop, manufacture, and test clay blocks optimised for Fastbrick’s Hadrian X construction robot. After which, the clay blocks will then be introduced into global markets where Wienerberger is active. I think this is a positive development, but a little too soon for me to act upon it.
The MaxiTRANS Industries Limited (ASX: MXI) share price has pushed 5% higher to 61 cents after the supplier of truck and trailer parts announced the sale of its shareholding in the China-based MTC panel manufacturing business. According to the release, MaxiTRANS has entered into an equity transfer agreement with Zhejiang Huazheng New Materials Co. for the sale of its 80% holding for approximately $8 million. In addition to this, MaxiTRANS has also signed a long-term supply agreement for the continuing supply of products to the group by MTC that will take effect from the completion of the sale.
The Netcomm Wireless Ltd (ASX: NTC) share price has climbed 2% to 78 cents. This morning a change of director’s interest notice revealed that non-executive director David Spence has dipped into the market to pick up 60,000 shares through an on-market trade today. Mr Spence paid a total of $46,776 for the shares, equating to a price of approximately 78 cents per share. Netcomm’s shares have fallen 42% in the space of two weeks after providing disappointing guidance for FY 2019.
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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.