Thanks largely to a solid gain today, so far in March the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has managed to put on a small gain of approximately 1.5%.
Although the market has struggled for gains, a number of shares on the market have rocketed higher. Here's why these shares are amongst the biggest movers on the market this month:
The Auscann Group Holdings Ltd (ASX: AC8) share price has rallied a massive 190% so far in March. Investors have been piling into the medical marijuana industry ever since the government announced plans to loosen regulations. Other notable triple-digit gains in the industry include MMJ Phytotech Ltd (ASX: MMJ) and Zelda Therapeutics Ltd (ASX: ZLD). Whilst AusCann would be my pick in the industry, at the current share price I would hold off an investment.
The Blackmores Limited (ASX: BKL) share price is up 15% in March. The decision by Chinese officials to delay their new cross border e-commerce laws indefinitely has been the catalyst for the rise. These laws had threatened to reduce the sales of many leading exporters into the country, so it's not a surprise to see Blackmores and a2 Milk Company Ltd (Australia) (ASX: A2M) rally. Despite their respective share price rises, I feel both companies are still worthy of a closer look.
The SKY and Space Global Ltd (ASX: SAS) share price is up 39% in March thanks largely to the signing of an agreement with major South American telco company Globalsat. SKY and Space Global will provide Globalsat's end-user customers with bandwidth from its narrow-band satellite communication services. Although I think it may be a touch too soon for an investment, I do believe the exciting tech company is worth keeping an eye on.
