It has been a mixed day of trade for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). But in afternoon trade the index has managed to push higher and is up 0.1% to 6,198.1 points.
Four shares that are climbing more than most today are listed below. Here's why they surged higher:
The Cann Group Ltd (ASX: CAN) share price has rocketed 12% higher to $1.87 after the cannabis company announced an agreement to purchase a site located within the Mildura region for $10.75 million (plus GST). The company intends to construct a state of the art greenhouse on the site for large scale cultivation and production of medicinal cannabis to service both domestic and export markets. Cann also announced a five year agreement with C$13 billion cannabis giant Aurora Cannabis for the offtake of medicinal cannabis produced by Cann.
The Neometals Ltd (ASX: NMT) share price has surged 6.5% higher to 24.5 cents after announcing the completion of the $103.8 million sale of its 13.8% equity interest in the Mt Marion Lithium Project. The sale was made to co‐shareholders Ganfeng Lithium and Mineral Resources Limited (ASX: MIN), leaving Neometals with a cash balance of $131 million plus $7 million in listed investments.
The Pro Medicus Limited (ASX: PME) share price has continued its strong run and pushed a further 3% to $17.48. At one stage today the healthcare technology company's shares hit an all time high of $11.59. Investors appear to have been impressed with the company's investor update release on Monday.
The Zip Co Ltd (ASX: Z1P) share price has climbed 2.5% to $1.74. Today's gain is likely to be attributable to a broker note out of Morgans this morning. According to the note, the broker has retained its add rating and lifted the price target on the payments company's shares to $1.89 following its $43 million placement.
