The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has continued its strong form and reached a new six-month high on Thursday. In afternoon trade the benchmark index is up 0.35% to 6,268.3 points.
Four shares that have climbed more than most today are listed below. Here's why they stormed higher:
The Althea Group Holdings Ltd (ASX: AGH) share price is up 5.5% to 37.5 cents following the release of an investor update. According to the release, the medicinal cannabis company has experienced strong patient and prescriber growth in Australia. As a result, second half sales have "shown significant growth". In the first half revenue on the sale of cannabis products in Australia came to $174,000.
The Bega Cheese Ltd (ASX: BGA) share price has bounced back from its recent declines and is up 3.5% to $4.70 today. The diversified food company's shares have come under significant pressure since the release of its half year results. This led to them hitting a multi-year low on Wednesday. Some investors appear to believe the selling has been overdone and created a buying opportunity.
The Myer Holdings Ltd (ASX: MYR) share price has pushed a further 3% higher to 47 cents. The department store operator's shares have rallied strongly since the release its half year results yesterday. In the first half of FY 2019 Myer posted a 2.8% decline in sales to $1,671.4 million, but a 3.1% increase in profit after tax to $41.2 million. Myer's online business was a key driver of its growth, delivering an 18.6% increase in sales to $151.2 million.
The Nearmap Ltd (ASX: NEA) share price has zoomed 4% higher to $2.81. At one stage today the geospatial map technology company's shares were trading at an all-time high of $2.88 despite news that two of its directors had offloaded shares through on-market trades this week. Nearmap's shares are up 200% in the last 12 months.
