Technology Stock Powers Higher on Financial Results

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.

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

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