ASX Small Cap Lunch Wrap: Bounce-back continues but #silversqueeze doesn’t
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Small cap ASX stocks are gaining for a second day after three straight days of losses last week but the #silversqueeze has yet to materialise.
Silver prices were down 0.3 per cent to US$27.63 an ounce at noon, although that’s still up 5.2 per cent for the month.
Silver Mines (ASX:SVL) was down 21.2 per cent to 28.75c after yesterday’s 49 per cent rally, while Bosnia-focused silver explorer Adriatic Metals (ASX:ADT) had dipped 7.3 per cent to $2.41 following a 19.8 per cent jump on Monday.
Tiny nickel-cobalt explorer GME Resources (ASX:GME), whose stock has surged as high as 13c thanks to it having the same code as Gamestock (NYSE:GME), was down 9.6 per cent to 7.5c.
Overall though the Small Ordinaries is on track for its best day in two weeks, gaining 29.7 points, or 0.96 per cent, to 3,126.2 at noon.
The ASX200 is doing even better, with a 1.14 per cent rise following a solid day on Wall Street. The NASDAQ was up 2.6 per cent overnight and the Dow Jones rose 229 points, or 0.76 per cent.
Here are the best performing ASX stocks Tuesday morning, February 2:
Swipe or scroll to reveal the full table. Click headings to sort.
Rent.com.au (ASX:RNT) was up 109 per cent to 9c at noon, and has traded as high as 11.5c, after tech entrepreneur Bevan Slattery invested $2 million in the company, which has products for the rental market such as bond financing and tenant checks.
PolarX (ASX:PXX) is up 75 per cent to 5.6 after its drilling project in the US state of Nevada found high grades of silver and gold.
Centrepoint Alliance (ASX:CAF) is up 31 per cent to 29.5c after the financial advice services company said it would resume dividend payments after returning to profitability with unaudited first-half earnings of $2.1 million.
Here are the worst-performing ASX stocks: