In March the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) had a very strong month, ultimately ending up with an almost 3% gain to 5,864 points.
As good as this gain was, it was nothing compared to what some shares on the market provided their respective shareholders with in March.
Four shares which caught the eye with stunning gains are listed below. Here's why they went gangbusters:
The a2 Milk Company Ltd (Australia) (ASX: A2M) share price jumped a massive 24% in March. The dairy company's shares were given a big boost last month when Chinese officials announced that they have delayed their new cross border e-commerce laws indefinitely. These laws had threatened to reduce the sales of many leading exporters into the country.
The Audio Pixels Holdings Ltd (ASX: AKP) share price rocketed 49% last month despite there being no news out of the digital speakers developer. Whilst its micro-electromechanical structures (MEMS)-based loudspeaker chip could one day revolutionise the audio technology industry, until its technology has been proven I would give Audio Pixels a miss.
The Pro Medicus Limited (ASX: PME) share price rocketed 27% in March thanks to the announcement of an enterprise-wide deal with Primary Health Care Limited (ASX: PRY) and its plans to repurchase up to 10% of ordinary shares on issue over the next 12 months. Whilst I think Pro Medicus is a high-quality company, I feel buying back shares at 72x trailing earnings may not be the most efficient use of its funds.
The Slater & Gordon Limited (ASX: SGH) share price jumped over 32% last month. The catalyst for the share price movement was an announcement out of the embattled law firm in regards to its capital structure. According to the release its senior lenders intend to implement a solvent restructure of the company. As well as this they aim to work with the company to enter into binding agreements to reset its debt structure, ensuring it has a sustainable level of debt.
