Weekly ASX small cap wrap: who was still smiling Friday arvo
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It was an ugly week for ASX-listed small caps with the Small Ords index losing more than 5 per cent.
But there were a few smiles amid the gloom.
HIV fighter Biotron (ASX:BIT) is now a bonafide ten-bagger after continuing to soar this week.
A week ago after announcing positive trial results for its HIV treatment, the stock jumped 750 per cent to 18c before profit-taking saw it halve to 8c last Friday.
Biotron confirmed to Stockhead it was on the hunt for a funding partner to move to the next stage of testing.
Since then the stock has found new support, with the shares more than doubling this week to 17c at Friday’s close.
Here’s the share price over the past few weeks:
Pizza broadcaster Dragontail Systems (ASX:DTS) jumped 60 per cent this week after announcing a $6 million investment from a New York-based investor Tiger Global Management.
Dragontail is focused on bringing machine-learning to restaurant food production with its Algo software, which integrates with a pizza quality-control camera that lets you watch your meal as it cooks.
The money will go towards “rapidly increasing roll out of installations of Algo” as well as further developing its artificial intelligence technology.
The placement was priced at 18.7c — but the stock rose higher, closing at 22.5c on Friday.
Shares in troubled junior telco Inabox Group (ASX:IAB) climbed 44 per cent to 72c for the week after it revealed it is selling its telecommunications services business to MNF Group (ASX:MNF).
Inabox had a challenging FY18, starting when a cloud business it owned performed much poorer than expected.
Back in June, takeover talk pushed the group’s performance, and then in August sell-offs began, with 5G Networks (ASX:5GN) picking up that cloud business and another Inabox business, Anittel, for $5.7m.
The sale of its telco and enablement business will net the company $33.5 million.
MGC Pharma (ASX:MXC) was up 30 per cent for the week to 6.7c after its cannabis-based CannEpil treatment won approval to be used in treating drug-resistant (or refractory) epilepsy.
CannEpil is an orally-administered medical cannabis treatment which has undergone years of testing.
MGC now has the all-important tick of approval from the Therapeutic Goods Administration which will make the product available in Australia through specialist prescribers.
Skin Elements (ASX:SKN) gained 15 per cent to 6c after signing a deal to develop algae and cannabis oil skincare products with Affinity Energy (ASX:AEB) — formerly known as Algae.Tec.
Affinity has been working on getting an algae nutraceuticals and animal food operation up and running since 2015 after its algae-as-biofuel theory didn’t work out.
Here are the best performing ASX small cap stocks for Oct 5-12:
Swipe or scroll to reveal full table. Click headings to sort
ASX code | Company | One-week price change | Price Oct 12 | Market Cap |
---|---|---|---|---|
BIT | BIOTRON | 1.0987654321 | 0.17 | 70.5M |
MNB | MINBOS RESOURCES | 1 | 0.002 | 5.7M |
DTS | DRAGONTAIL SYSTE | 0.607142857143 | 0.225 | 59.5M |
XPE | XPED | 0.5 | 0.003 | 4.5M |
WGL | WANGLE TECHNOLOG | 0.5 | 0.003 | 6.2M |
S3R | SERPENTINE TECHN | 0.5 | 0.003 | 1.8M |
NIU | NIUMINCO GROUP L | 0.5 | 0.003 | 6.8M |
MOX | MONAX MINING | 0.5 | 0.003 | 1.8M |
ABV | ADVANCED BRAKING | 0.5 | 0.003 | 5.9M |
CAE | CANNINDAH RESOUR | 0.454545454545 | 0.032 | 3.5M |
IAB | INABOX GROUP | 0.44 | 0.72 | 17.1M |
GCR | GOLDEN CROSS RES | 0.4 | 0.07 | 7.1M |
SPB | SOUTH PACIFIC RE | 0.4 | 0.007 | 1.2M |
VII | VIETNAM INDUS IN | 0.395348837209 | 0.3 | 30.6M |
EDE | EDEN INNOVATIONS | 0.394366197183 | 0.099 | 126.3M |
LNY | LANEWAY RESOURCE | 0.333333333333 | 0.004 | 14.1M |
DTR | DATELINE RESOURC | 0.3 | 0.013 | 7.2M |
MKG | MAKO GOLD | 0.285714285714 | 0.135 | 7.6M |
RBR | RBR GROUP | 0.285714285714 | 0.009 | 5.6M |
HT8 | HARRIS TECHNOLOG | 0.285714285714 | 0.018 | 2.8M |
EM1 | EMERGE GAMING | 0.285714285714 | 0.009 | 5.0M |
MXC | MGC PHARMACEUTIC | 0.264150943396 | 0.067 | 81.3M |
MCX | MARINER CORP | 0.25641025641 | 0.049 | 535.8k |
TYK | TYCHEAN RESOURCE | 0.25 | 0.005 | 2.9M |
EXO | ENNOX GROUP | 0.25 | 0.005 | 8.8M |
EER | EAST ENERGY RESO | 0.25 | 0.005 | 16.0M |
ENX | ENEGEX | 0.25 | 0.015 | 1.2M |
BC8 | BLACK CAT SYNDIC | 0.222222222222 | 0.22 | 12.6M |
GAS | STATE GAS | 0.21875 | 0.195 | 26.3M |
TAS | TASMAN RESOURCES | 0.21875 | 0.078 | 35.1M |
In a week of market carnage Flamingo AI (ASX:FGO) led an ASX small cap plunge, falling more than 25 per cent to 2.3c after two key potential clients opted out.
Flamingo AI is an artificial intelligence developer that provides “virtual assistants” ROSIE and MAGGIE to fix business problems such as poor customer experience, low online sales conversion rates and high cost of customer service.
AMP and Liberty Mutual Insurance had been undertaking paid trials — but said they didn’t want to buy the whole cow.
In July, Flamingo had ten potential customers in various stages of testing its technology.
Here are the worst performing ASX small cap stocks for Oct 5-12:
Swipe or scroll to reveal full table. Click headings to sort
ASX code | Company | One-week price change | Price Oct 12 | Market Cap |
---|---|---|---|---|
LKO | LAKES OIL NL | -0.5 | 0.001 | 45.4M |
IOT | IOT GROUP | -0.5 | 0.001 | 1.4M |
AJC | ACACIA COAL | -0.5 | 0.001 | 2.9M |
ICU | ISENTRIC | -0.41935483871 | 0.018 | 5.7M |
AJJ | ASIAN AMERICAN M | -0.416666666667 | 0.07 | 23.6M |
RCP | REDBANK COPPER L | -0.4 | 0.015 | 1.8M |
DEV | DEVEX RESOURCES | -0.4 | 0.003 | 4.4M |
T3D | 333D | -0.333333333333 | 0.002 | 1.8M |
SHK | STONE RESOURCES | -0.333333333333 | 0.002 | 1.6M |
QFY | QUANTIFY TECHNOL | -0.333333333333 | 0.012 | 8.3M |
MTB | MOUNT BURGESS | -0.333333333333 | 0.004 | 2.2M |
IBN | IBUYNEW GROUP | -0.333333333333 | 0.002 | 4.4M |
ODM | ODIN METALS | -0.275 | 0.145 | 22.3M |
TOM | TOMIZONE | -0.272727272727 | 0.008 | 3.4M |
MHC | MANHATTAN CORP | -0.272727272727 | 0.008 | 5.9M |
FGO | FLAMINGO AI | -0.258064516129 | 0.023 | 24.6M |
YOW | YOWIE GROUP | -0.25 | 0.105 | 24.0M |
RVA | REVA MEDICAL-CDI | -0.25 | 0.21 | 91.3M |
RHI | RED HILL IRON | -0.25 | 0.3 | 21.8M |
PG1 | PEARL GLOBAL | -0.25 | 0.15 | 23.2M |
CXU | CAULDRON ENERGY | -0.25 | 0.03 | 11.5M |
AFA | ASF GROUP | -0.25 | 0.12 | 81.3M |
SUR | SUN RESOURCES NL | -0.25 | 0.003 | 2.3M |
PCL | PANCONTINENTAL | -0.25 | 0.003 | 13.5M |
MLS | METALS AUSTRALIA | -0.25 | 0.003 | 8.2M |
KEY | KEY PETROLEUM | -0.25 | 0.006 | 8.1M |
HCO | HYLEA METALS | -0.25 | 0.003 | 7.0M |
GGX | GAS2GRID | -0.25 | 0.003 | 3.4M |
CDX | CARDIEX | -0.243902439024 | 0.031 | 16.5M |
ZYB | ZYBER HOLDINGS L | -0.235294117647 | 0.013 | 8.5M |