In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to have a strong end to the week with a 0.5% gain to 5,702 points.
Four shares in particular have had an even better end to the week. Here's why they've rocketed higher today:
Aconex Ltd (ASX: ACX) shares have jumped almost 5% to $5.70 despite there being no news out of the software-as-a-service company. Although the company's shares are the most shorted on the ASX, I think it is a great investment option for investors at the current price. If Aconex delivers on its long-term growth forecast I expect there could be significant share price gains ahead.
BlueScope Steel Limited (ASX: BSL) shares are up 4% to $11.50 today. This means its shares have now provided a 14% return for shareholders since this time last week. The steel manufacturer's shares have been on a tear because of the release of its impressive preliminary half-year results on Monday. For the first-half of FY 2017 BlueScope expects to deliver a 160% jump in underlying EBIT to $600 million.
Paladin Energy Ltd (ASX: PDN) shares have rocketed higher by 25% to 12.2 cents thanks to increased optimism regarding uranium prices. Prices fell to 12-year lows in 2016 as oversupply and weak demand hit the market. But with one major producer committed to reducing its output and demand likely to increase in Japan, uranium prices could be set to climb higher.
Zelda Therapeutics Ltd (ASX: ZLD) shares have been on fire today and climbed 11.5% to 2.9 cents despite there being no news out of the medicinal cannabis company. Although at this stage it may be a little on the speculative side, I believe Zelda could have a bright future. The company recently announced that it aims to use its cannabinoid formulations for the treatment of pancreatic cancer.
