An ash
patent sent a small tech stock ‘flying’ Tuesday while some investors likely
loved a takeover in the chemicals space. Here’s some small stocks making big
moves on Tuesday, October 6, 2015 (as of 4 pm EST):
Orbite Technologies Inc. (TSX:
ORT) shares climbed 15% to $0.345 on volume of more than 5.1 million shares
Tuesday after the Canadian clean tech company announced that it has been
advised by the United States Patent and Trademark Office that its patent
application No. 14/388,285 titled “Processes for Treating Fly Ash”
has been found allowable. The patent covers the selective extraction and
recovery of valuable elements such as scandium, gallium, rare earths and rare
metals, alumina, magnesium oxide and titanium dioxide from fly ash, a residue
from coal combustion, using Orbite’s chloride-based technology. The company
added that this clears the way for it to pursue the commercial application of
its technology in the United States. Fly ash contains substantial quantities of
valuable materials that no other known technology available on the market today
is able to extract in a viable manner.
As well,
shares of Canexus Corporation (TSX:
CUS) powered 25% higher to $1.48 as the chemicals and handling company said
it has agreed to be acquired by Superior Plus Corp. for C$324.1
million in an all-stock transaction. Canexus shareholders will get 0.153 of a
Superior share for each Canexus held.
Fantasy Aces Daily Fantasy Sports Corp. (TSXV: FAS) stock price, meanwhile, moved up as much as 14% on its first day of trading following the merger of DraftTeam Daily Fantasy
Sports Corp. (TSXV: DTS) and Fantasy Aces, LLC. For more insight into the Fantasy
Aces story please Click HERE >>
Disclosure: Fantasy Aces is a client company of
SmallCapPower and has paid a fee for coverage.
Hi, did you know SmallCapPower
accepts blog submissions? You can contact me at sean@smallcappower.com.
