Surging revenue and a quarterly profit fired up a small tech stock Wednesday. Here’s some small stocks making big moves on Wednesday, May 23, 2018 (as of 4 pm EST):
XPEL Technologies Corp. (TSXV:DAP.U), a tech stock and supplier of automotive paint protection and window films, powered 60% higher to US$3.19 on Wednesday after announcing that its first-quarter revenue rose nearly 100% to US$25.2 million, while swinging to a quarterly profit of $2.0 million from a $0.06 million loss during the same period last year.
As well, shares of Nemaska Lithium Inc. (TSX:NMX) slid 15% to $1 as the lithium junior said it has entered into a bought-deal equity financing agreement to raise $280 million at a price of C$1.00 per share.
Hemostemix Inc. (TSXV:HEM), meanwhile, reported that it has been granted a new patent in the European Union for its patent entitled “Regulating Stem Cells.” Hemostemix stock moved up 21% to $0.085 following the announcement.
Finally, BLOCKStrain Technology Corp. (TSXV:DNAX) shares began trading on the TSX Venture exchange on Wednesday, opening and closing at $1.06 after hitting an inter-day high of $1.20. BLOCKStrain is an integrated blockchain platform that registers and tracks intellectual property for the cannabis industry.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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XPEL Technologies Corp. (TSXV:DAP.U), a tech stock and supplier of automotive paint protection and window films, powered 60% higher to US$3.19 on Wednesday after announcing that its first-quarter revenue rose nearly 100% to US$25.2 million, while swinging to a quarterly profit of $2.0 million from a $0.06 million loss during the same period last year.
