These small cap ASX shares have surged higher on Thursday

Although the market has crashed lower on Thursday, not all shares have been dragged into the red.

In fact, the three small cap shares listed below have managed to carve out strong gains today. Here’s why:

The Broo Ltd (ASX: BEE) share price has jumped 6% to 9 cents after the beer company released a market update this morning. That update revealed that its China wholesale distribution volume reached 19.2 million litres during the first quarter. This led to consolidated revenues increase 52% on the prior corresponding period. However, cash receipts from customers were only $646,000 during the quarter, leading to a cash outflow from operating activities of $1 million. Broo has $832,000 left in cash and estimated outflows of $1.5 million in the second quarter.

The Biotron Limited (ASX: BIT) share price is up 19% to 19 cents. On Wednesday Biotron’s shares plunged 27% lower as profit taking weighed heavily on them. Today bargain hunters appear to be swooping in to capitalise on yesterday’s weakness. Not everyone is buying shares, though. According to three change of director’s notices, Biotron’s chairman, CEO, and an independent non-executive director have been selling shares. The company’s CEO and chairman have exercised options before selling them for a sizeable profit, whereas independent non-executive director Robert Thomas has dumped 3.5 million shares through an on-market trade for a total consideration of $818,000. Given that the company has recently had its options underwritten, this doesn’t look good for the company in my opinion. As a result, I would suggest investors avoid Biotron at all costs now.

The LiveTiles Ltd (ASX: LVT) share price has risen 2.5% to 40 cents after announcing a partnership with Nucleus Cyber to bring AI-powered security to the Intelligent Workplace. By partnering with Nucleus Cyber, LiveTiles’ Intelligent Workplace will now be enhanced by the additional data security capabilities of Nucleus Cyber’s platform to create the world’s first Intelligent Secure Workplace Solution. This could be a big positive for LiveTiles, making it worth keeping a close eye on in FY 2019.

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 Atlassian.

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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.

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