So far it has been a disappointing end to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index is down 0.6% to 5,659 as the world awaits the inauguration of Donald Trump as U.S. president overnight.
Despite the market dropping sharply lower, four shares in particular have gone against the grain and made notably strong gains today. Here's why:
Bubs Australia Ltd (ASX: BUB) shares are up 7% to 22.5 cents today. Although the shares of this newly listed infant formula manufacturer are now 50% lower than their 45 cents high, they're still a good 125% higher than their initial listing price. I believe it is definitely one to watch closely, but perhaps not one to invest in just yet.
Data#3 Limited (ASX: DTL) shares have surged 8.5% to $1.79 after the technology consulting company announced that it expects its half-year net profit before tax to come in 31% higher year on year at $8 million. The company had a very strong FY 2016 and appears to have carried this momentum through to FY 2017. At the current share price it could be worth a closer look in my opinion.
Mayne Pharma Group Ltd (ASX: MYX) shares have climbed 4% to $1.33 despite there being no news out of the fast-growing pharmaceutical company. With its shares down by a third in the last six months, I believe Mayne Pharma could be classed as a bargain buy. Especially as it has a pipeline of drugs estimated to be worth upwards of US$7 billion in annual sales.
Pilbara Minerals Ltd (ASX: PLS) shares have jumped almost 7% to 55.5 cents despite there being no noteworthy news out of the lithium miner. Today's gain means its shares have now doubled in value in the last 12 months. With demand for lithium remaining strong and prices rising, Pilbara certainly appears to be positioned to deliver strong growth in the coming years.
