Record revenue and a first-ever profit powered a marketing technology stock higher Wednesday. Here’s some small stocks making big moves on Wednesday, May 2, 2018 (as of 4 pm EST):
Ackroo Inc. (TSXV:AKR), a marketing technology stock, jumped 13% to $0.085 on Wednesday after announcing record first-quarter revenue of $1,168,414, an 80% increase over the same period in 2017. The Company also achieved its first earnings quarter, generating $70,686 in operating profits during the period.
As well, shares of Concordia International Corp. (TSX:CXR) sank 32% to $0.40 as the specialty pharmaceutical company said it is proposing a recapitalization transaction that would raise new equity capital of US$586.5 million and reduce the Company’s total outstanding debt by approximately US$2.4 billion.
North American Construction Group Ltd. (TSX:NOA), meanwhile, reported better-than-expected revenue and earnings for the first quarter of 2018. Revenue for the quarter increased 24% to $114.7 million, while net income for the period saw a 16% improvement to $11.1 million. North American Construction Group stock moved up 15% to $8.52 following the announcement.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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Ackroo Inc. (TSXV:AKR), a marketing technology stock, jumped 13% to $0.085 on Wednesday after announcing record first-quarter revenue of $1,168,414, an 80% increase over the same period in 2017. The Company also achieved its first earnings quarter, generating $70,686 in operating profits during the period.
