Sean Mason | March 16, 2016 | SmallCapPower
A real estate tech play appreciated following a contract announcement, while a potash developer’s share value continued to grow. Here’s some small stocks making big moves on Wednesday, March 16, 2016 (as of 4 pm EST):
Zaio Corporation (TSXV: ZAO) shares gained 29% to $0.11 on Wednesday after the real estate valuation technologies platform announced that its U.S. subsidiary, Valuation Vision, Inc., has been contracted to perform valuation services for U.S. Government housing agency backed delinquent asset sales.
As well, shares of Orbite Technologies Inc. (TSX: ORT) continued to fall, off 4% to $0.23. On Tuesday, the clean tech company’s stock slid 20% after it said capital costs at its high-purity alumina production plant in Québec must be increased by approximately $9.9 million and that its current financial resources are insufficient to cover these additional expenditures.
Nobilis Health Corp. (TSX: NHC), meanwhile, reported that its total revenue for the full year 2015 increased 172.8% to $229.2 million, while net income for the period surged to $50.8 million from $2.9 million. Nobilis Health stock moved up 3% to $4.53 following the announcement.
Finally, Karnalyte Resources Inc. (TSX: KRN) shares continued to power higher, up 42% to $3.20. On Monday, SmallCapPower reported that the potash/magnesium project developer announced that India’s Gujarat State Fertilizers and Chemicals Ltd has agreed to finance the first phase of Karnalyte’s Canadian potash mine for $700 million. Its stock price has soared 156% since.
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