Lithium Battery Stock Charges Up on Purchase Orders

Electrovaya Inc. (TSX:EFL), a lithium battery stock, climbed after announcing that it has received new purchase orders worth more than US$1.9 million

Sean Mason | October 4, 2018 | SmallCapPower

New purchase orders sparked a bit of excitement in a lithium battery stock Thursday. Here’s some small stocks making big moves on Thursday, October 4, 2018 (as of 4 pm EST):

Electrovaya Inc. (TSX:EFL), a lithium battery stock, powered 12% higher to $0.24 on Thursday after announcing that it has received new purchase orders worth more than US$1.9 million, bringing the total value of announced purchase orders received since the end of the June 30, 2018 quarter to US$3.2 million.

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As well, shares of Gungnir Resources Inc. (TSXV:GUG) plunged 53% to $0.15 as the junior explorer said it has intersected additional long core lengths of sulphide mineralized conglomerate at its Knaften gold project in Sweden, which included 0.24% zinc equivalent over 120.50 metres.

Theratechnologies Inc. (TSX:TH), meanwhile, reported record third-quarter net sales of $17,714,000, up 58% from the same quarter last year, along with positive EBITDA of $2.735 million. Theratechnologies stock moved up 12% to $9.60 following the announcement.

Finally, The Mint Corporation (TSXV:MIT) shares climbed as much as 10% after the FinTech company announced that its majority-owned subsidiary, Mint Middle East LLC, has launched its mobile application in the United Arab Emirates (UAE). Mint Corporation expects that the launch of the mobile application will expand Mint’s business from its traditional payroll services to a full suite of mobile-enabled FinTech services, which will give the Company the opportunity to significantly increase its revenue per cardholder.

To find out more about The Mint Corporation, please visit the company’s Investor Hub.

Ubika Research/SmallCapPower has received compensation from Mint to provide analyst research coverage. For full disclosure please visit here >>.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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