Net Element (NASDAQ: NETE) and Formation Fluid Management (TSXV: FFM) Lead the Top Sector Gainers

Net Element Inc (NASDAQ: NETE) and Formation Fluid Management Inc (TSXV: FFM), lead the top small cap stock gainers for various sectors on both sides the border, including one that saw its share price soar of 120%.

Top U.S. Gainer

Net Element Inc (NASDAQ: NETE), engaged in mobile commerce, payment processing, entertainment and culture Internet destinations in Russia and other emerging markets, was the top performer in the U.S. e-commerce discretionary sector after skyrocketing 119.6% Wednesday and closed at $3.80 while recording significant trading volumes of 21.4 million shares after Apple Inc (NASDAQ: AAPL) announced its new mobile payment solution. NETE broke its key technical resistance levels of 30-day, 50-day and 200-day DMAs at $1.82 & $1.75 & $2.71 respectively. During the past 5-trading sessions, NETE gained 130% with daily average trading volumes of 4.3 million shares, while the stock accumulated over 110% during the past one month with daily average trading volumes of 740,774 shares.

1-Year Price Chart

Top Canadian Gainer

Formation Fluid Management Inc (TSXV: FFM), engaged in the development of a process to desalinate oilfield produced water for recycling, reuse and release, was the top sector gainer powering 25.6% higher Wednesday after the company reported an increase of 583% in revenues for 2014. FFM broke its short term 30-day & 50-day DMAs at C$0.44 and C$0.46 respectively and closed at C$0.68 while recording volumes of 238,100 shares. During the past 5-trading sessions, FFM gained 17% with daily average trading volumes of 59,010 shares, while the stock accumulated over 20% during the past one month with daily average trading volumes of 30,082 shares. The stock is 113% year-to-date.

1-Year Price Chart