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These ASX small cap shares are posting strong gains today

The market may be in selloff mode again on Wednesday, but not all shares have tumbled lower with it.

Three ASX shares at the small end of the market that are posting strong gains today are listed below. Here’s why they are on the rise:

The FBR Ltd (ASX: FBR) share price has rocketed 18% higher to 19.5 cents after the robotics company provided an update on its Hadrian X programme. That update revealed that it has successfully demonstrated its robotic home building technology by building a 180-metre squared, 3-bedroom, 2-bathroom home structure in less than the targeted total elapsed time of three days. This was a technical milestone that was set for the company in 2015. Management has advised that it will now take everything it has learned to date in the Hadrian X programme and make some refinements before demonstrating the technology to key commercial stakeholders.

The LiveTiles Ltd (ASX: LVT) share price has pushed 5% higher to 41.5 cents after the AI-focused software company provided an update on the early success of the sales and marketing team it hired earlier this year. According to the release, N3, a specialist sales and marketing consultancy and execution firm, has generated a pipeline of sales opportunities that now exceeds $50 million. Management appears confident in its ability to convert these sales. Advising that: “Given LiveTiles’ strong track record of converting qualified sales opportunities into paying customers, we are confident we can continue to rapidly grow our customer base and recurring revenue throughout FY19, with the support of the N3 team.”

The ResApp Health Ltd (ASX: RAP) share price has raced 12% higher to 11.2 cents after the digital health company announced that its quality management system is now International Organization of Standardization (ISO) 13485 compliant. This follows a successful stage two audit by the British Standards Institution. ISO 13485 compliance is an essential step in obtaining European CE Mark and Australian Therapeutic Goods Administration (TGA) approval for all of ResApp’s products.

Instead of ResApp, I think these small cap tech shares would be great investments in 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.

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