Although the massive gains made by the likes of Webjet Limited (ASX: WEB) and WiseTech Global Ltd (ASX: WTC) will take the headlines today, they weren't the only ones pushing higher.
Three small cap shares that posted strong gains today are listed below. Here's why they are on the rise:
The Amaysim Australia Ltd (ASX: AYS) share price rose 7% to $1.04 on Thursday. Investors have been flooding into the telco sector this week after TPG Telecom Ltd (ASX: TPM) revealed that it is looking into a merger with Vodafone Australia. The market appears to believe that the emergence of a third telco giant in the Australian market instead of a large number of smaller players will bring an end to the price war. Interestingly, Amaysim has been tipped as a potential takeover target for TPG Telecom and Vodafone in the past. Food for thought.
The Impedimed Limited (ASX: IPD) share price rocketed 28.5% higher to 45 cents today after the medical device company released the results for the PREVENT trial. According to the release, the authors from the PREVENT trial concluded that Impedimed's L-Dex is very sensitive in the assessment of sub-clinical lymphoedema in patients with a history of breast cancer. The paper also supports the recommendation for an aggressive measurement protocol consisting of an L-Dex assessment every three months. Whilst this is positive news, it is still early days and there's a long road ahead.
The Wellcom Group Limited (ASX: WLL) share price built on yesterday's strong gain with another push higher on Thursday. The production and content management company's shares climbed over 6% higher to $5.15 a day after reporting full year revenue of $108 million and net profit after tax of $11.7 million. This was a 9% and 10% increase, respectively, on FY 2017's result. Wellcom's solid result was driven partly by a number of new contracts wins including customers from Countdown (Woolworths NZ), News Corp, and SPC Ardmona.
