Another r/wallstreetbets yarn.

SPDR Gold Shares — allegedly the largest physically backed gold exchange traded fund (ETF) in the world — trades on the NYSE under the ticker ‘GLD’.

Meanwhile, ‘GLDD’ belongs to the NASDAQ-listed, non-gold related Great Lakes Dredge and Dock Company.

Reddit user u/Null-Epistemology bought some ‘GLDD’ calls “dirt cheap” as a joke “on the hopes that gold would continue to explode, and Robinhood users can’t type”.

This has happened before. The rush to get a slice of video conference start-up Zoom last year saw some overzealous investors buy shares in a far less cool, completely unrelated company called Zoom Technologies.

‘Less Cool Zoom’ was going for around 1c a share before it spiked as high as 1100 per cent.

Now, GLDD has become “far and away” Null-Epistemology’s most profitable play – not because Robinhood users can’t spell, but “because apparently it’s a real company that blew away earnings?”

“wtf even is this casino?”

In Markets…

Wall Street investors are awaiting a major new coronavirus-aid bill; meanwhile, Apple has kept climbing following last week’s sensational earnings report.

Morningstar says the Silicon Valley heavyweight is around $US120bn away from becoming the first US publicly listed company with a stock market value of $US2 trillion.

China stocks ended higher on Tuesday, sparked by the government’s latest move to ease pressure on the country’s banking sector.

European markets, which have wobbled in recent weeks on concerns about a resurgence in COVID-19 cases, traded mostly flat.

Meanwhile, the gold futures price rose by $US34.70 to near all-time highs of $US2,021 an ounce. Incredible.

The Aussie bourse is in the red once again on Wednesday morning, as Victoria prepares to announce another +720 COVID-19 cases over the past 24 hours.



Here are the best performing ASX small cap stocks at 12pm Wednesday August 5:

Swipe or scroll to reveal the full table. Click headings to sort.

ATH Alterity Therapeutics 0.072 56.52% $78.1M
PNN Pepinnini Minerals 0.002 50.00% $1.6M
THR Thor Mining 0.011 31.25% $7.5M
HT8 Harris Technology 0.081 28.57% $15.6M
STM Sunstone Metals 0.014 27.27% $12.4M
SVD Scandivanadium 0.03 25.00% $15.5M
GGE Grand Gulf Energy 0.005 25.00% $1.9M
AEV Avenira 0.016 23.08% $8.1M
DRE Dreadnought Resources 0.011 22.22% $21.0M
FFR Firefly Resources 0.085 21.43% $6.9M
WML Woomera Mining 0.023 21.05% $7.3M
IVR Investigator Resources 0.048 23.08% $40.6M
MBH Maggie Beer Holdings 0.27 20.45% $54.9M
EM2 Eagle Mountain Mining 0.18 20.00% $24.3M
AHL Ahalife Holdings 0.006 20.00% $4.0M
KGM Kalnorth Gold Mines 0.012 20.00% $10.7M
EQE Equus Mining 0.015 20.00% $26.4M
GED Golden Deeps 0.012 20.00% $4.2M
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Prominent small cap investor Tolga Kumova has joined the register of gold explorer Firefly Resources (ASX:FFR), formerly known as Marindi Metals.

Maggie Beer (ASX:MBH) is rolling out a range of plant-based microwavable meals in 400 Coles stores across Australia.

Also up on no news today were online retail play Harris Technology (ASX:HT8), biotech Alterity Therapeutics (ASX:ATH), and copper-gold explorer Sunstone Metals (ASX:STM).



Here are the worst performing ASX small cap stocks at 12pm Wednesday August 5:

Swipe or scroll to reveal the full table. Click headings to sort.

CAQ CAQ Holdings 0.005 -37.50% $5.7M
LCY Legacy Iron Ore 0.004 -20.00% $25.0M
LPE Locality Planning Energy 0.27 -18.18% $13.6M
TIN TNT Mines 0.16 -17.95% $6.7M
CLZ Classic Minerals 0.003 -16.67% $19.8M
IDZ Indoor Skydive AUS Group 0.005 -16.67% $2.0M
CRO Cirralto 0.011 -15.38% $13.0M
MLM Metallica Minerals 0.012 -14.29% $3.9M
NTL New Talisman Gold 0.006 -14.29% $19.6M
PPL Pureprofile 0.021 -12.50% $2.8M
MRQ MRG Metals 0.007 -12.50% $9.9M
TEG Triangle Energy Global 0.028 -12.50% $10.1M
ASP Aspermont 0.008 -11.11% $18.2M
RMP Red Emperor Resources 0.008 -11.11% $4.2M
ONE Oneview Healthcare 0.07 -10.26% $12.5M
SCT Scout Security 0.074 -9.76% $8.8M
MCM MC Mining 0.095 -9.52% $13.4M
AL8 Alderan Resources 0.145 -9.38% $36.6M
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