The market may have plunged lower today, but that hasn't stopped a number of small-cap shares from making notably strong gains.
Three which caught my eye are listed below. Here's why they have stormed higher:
The ApplyDirect Limited (ASX: AD1) share price has climbed 9% to 12 cents after announcing a collaboration with Google. According to the release, the recruitment technology company will participate in Google's Cloud Job Discovery beta program. The program is part of the Google for Jobs initiative, powering smarter job searches and recommendations to make the right jobs for the right job seekers easier to discover. The integration to Google Cloud Job Discovery is expected to go-live within three months according to management. While it may be too soon to invest, I think it could be worth keeping an eye on ApplyDirect to see how this initiative impacts its business.
The Battery Minerals Ltd (ASX: BAT) share price has jumped 8% to 10.5 cents after the graphite-development company released its quarterly update. Management advised that it has made significant progress in the December quarter towards bringing its Montepuez Graphite Project in Mozambique into development. According to the release, commissioning and ramp up are on target for December 2018 and March 2019 quarters, respectively. Having just raised $20 million earlier this month, I think Battery Minerals is well funded moving forward. Furthermore, with three binding offtake agreements already signed, Battery Minerals could be a resources share to watch over the coming 12 months. Just as long as its assay results confirm that the company is sitting on a lucrative mineral resource.
The Buddy Platform Ltd (ASX: BUD) share price is 6% higher at 21.2 cents. This morning the Internet of Things company announced that it has reached an agreement with Ingram Micro to distribute its Buddy Ohm product line worldwide. I can't say I'm surprised to see its shares climb higher on the news, after all, Ingram Micro is the world's largest distributor of technology products and supply chain services with a turnover of more than US$43 billion. This complements the recently announced agreements with Dicker Data Ltd (ASX: DDR) to distribute the product in Australia and with Telstra Corporation Ltd (ASX: TLS) to be a reseller of it. Investors will now have to wait and see if the demand is there for the device known as the Fitbit for buildings. I'm not ready to invest in Buddy Platform, but I'll be watching on with interest from the sidelines.
