Technology Stock Powers Higher on Financial Results

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Firan Technology Group Corporation (TSX:FTG), a technology stock, jumped after announcing record second-quarter sales

Sean Mason | July 12, 2018 | SmallCapPower

Record quarterly sales propelled a Canadian technology stock sharply higher Thursday. Here’s some small stocks making big moves on Thursday, July 12, 2018 (as of 4 pm EST):

Firan Technology Group Corporation (TSX:FTG), a technology stock, surged 16% to $2.62 on Thursday after announcing record second-quarter sales of $28.9 million, an increase of 13% over Q2 2017.

As well, shares of Aritzia Inc. (TSX:ATZ) gained 11% to $17.79 as the apparel retailer said its first quarter same-store sales rose 10.9% year over year, while adjusted net income for the period increased 22.2%.

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Giga Metals Corporation (TSXV:GIGA), meanwhile, reported that it has agreed to sell a 2% Net Smelter Return royalty on all future metal production from the Turnagain Nickel-Cobalt Project in British Columbia to Cobalt 27 Capital Corp. for a US$1 million cash payment and US$9 million in common shares of Cobalt 27. Giga Metals stock popped 11% to $0.31 following the announcement.

Finally, GTEC Holdings Ltd. (TSXV:GTEC) shares jumped 24% to $0.98 after the cannabis company announced that it has entered into an exclusive binding letter of intent with F-20 Developments Corp. to develop a 240,000 sq. ft. indoor cultivation facility located in Vernon, British Columbia.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

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

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