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ASX Small Cap Lunch Wrap: Markets boom as Dow runs through 30,000 points
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The Dow Jones index punched through 30,0000 points for the first time in history as investors predict economic recovery, vaccine rollouts, and a smooth(ish) transfer of power in the White House in 2021.
But how did the Dow – which measures the performance of 30 large Wall Street companies — hit record levels after such a terrible year? A brief technical analysis:
Accurate from r/wallstreetbets
“If 2020 has shown us anything it is that stock markets have a tremendous ability to look past bad news if there is sun on the horizon,” says Ross Mayfield, investment strategy analyst at Baird.
The biggest winners this week have been beleaguered oil and gas stocks, which are set for their best month on record as crude prices hit eight-month highs.
“Oil acts as an economic bellwether and the commodity has been on a tear for the past month, rising by more than 20 per cent in value as markets start to become more optimistic about economic activity amid positive vaccine news,” says Russ Mould, investment director at AJ Bell.
Despite weakening from a morning high of +1.03 per cent, the benchmark ASX200 index was still up 0.87 per cent to 6,701.6 points by 12:30pm eastern time.
WINNERS
Here are the best performing ASX small cap stocks at 12pm Wednesday November 25:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | NAME | PRICE | % CHANGE | MARKET CAP |
|---|---|---|---|---|
| ANX | Anax Metals | 0.077 | 79 | $ 11,932,776.32 |
| ALT | Analytica | 0.003 | 50 | $ 7,039,224.66 |
| ANL | Amani Gold | 0.0015 | 50 | $ 9,386,996.75 |
| CLZ | Classic Minerals | 0.0015 | 50 | $ 13,339,139.73 |
| NCL | Netccentric | 0.04 | 33 | $ 7,875,000.00 |
| GES | Genesis Resources | 0.021 | 31 | $ 12,525,460.70 |
| SPQ | Superior Resources | 0.015 | 25 | $ 14,290,848.98 |
| RVS | Revasum | 0.25 | 25 | $ 6,641,940.20 |
| GGX | Gas2Grid | 0.0025 | 25 | $ 2,647,993.97 |
| YPB | YPB Group | 0.0025 | 25 | $ 8,456,717.96 |
| CFO | Cfoam | 0.037 | 23 | $ 8,812,923.48 |
| BLG | Bluglass | 0.135 | 23 | $ 79,164,435.13 |
| RGI | Roto-Gro International | 0.062 | 22 | $ 8,109,531.17 |
| ODA | Orcoda | 0.17 | 21 | $ 16,245,394.48 |
| AIQ | Alternative Investments | 0.12 | 20 | $ 27,842,758.10 |
| SHE | Stonehorse Energy | 0.012 | 20 | $ 3,948,897.86 |
| KKO | Kinetiko Energy | 0.165 | 18 | $ 76,259,995.84 |
| ARE | Argonaut Resources | 0.007 | 17 | $ 17,477,228.69 |
| AKG | Academies Aus Grp | 0.4 | 16 | $ 44,026,991.12 |
| TRA | Turners Automotive | 2.55 | 16 | $ 188,220,362.00 |
| ATS | Australis Oil & Gas | 0.066 | 16 | $ 56,199,929.65 |
| FFG | Fatfish Group | 0.053 | 15 | $ 42,184,248.20 |
Pilbara explorer Anax Metals (ASX:ANX) – formerly Aurora Minerals –intersected significant near surface copper, zinc and lead sulphides at the Whim Creek farm-in.
The stock is now up ~150 per cent since relisting earlier this month.
Semiconductor firm Revasum (ASX:RVS) has shipped its flagship 6EZ Silicon Carbide Wafer Polisher to a major global manufacturer for customer evaluation, paring some of its massive losses over the past 12 months.
Looks good.
Fatfish Group (ASX:FFG) announced plans to jump on the BNPL (buy now, pay later) train – even through its new platform appears to be a lending service.
And it looks like Cann Group (ASX:CAN) knows how to squeeze all the juice out of a positive announcement: the cannabis stock spiked again in early trade after revealing new details about its $50 million debt facility from NAB.
LOSERS
Here are the worst performing ASX small cap stocks at 12pm Wednesday November 25:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | NAME | PRICE | % CHANGE | MARKET CAP |
|---|---|---|---|---|
| RVS | Revasum | 0.4 | -22 | $ 16,936,947.51 |
| XTC | Xantippe Res Ltd | 0.002 | -20 | $ 10,186,411.01 |
| CZN | Corazon Ltd | 0.0025 | -17 | $ 9,760,077.44 |
| OEL | Otto Energy Limited | 0.01 | -17 | $ 57,540,117.28 |
| AZI | Alta Zinc Ltd | 0.006 | -14 | $ 25,274,894.23 |
| TMT | Technology Metals | 0.365 | -14 | $ 52,360,000.00 |
| LVE | Love Group Global | 0.052 | -13 | $ 2,432,050.14 |
| NC6 | Nanollose Limited | 0.053 | -13 | $ 7,182,749.45 |
| ANX | Anax Metals Ltd | 0.063 | -13 | $ 19,980,462.67 |
| TZL | TZ Limited | 0.088 | -12 | $ 9,172,560.50 |
| RGI | Roto-Gro Intl Ltd | 0.067 | -12 | $ 12,084,791.54 |
| SAN | Sagalio Energy Ltd | 0.015 | -12 | $ 3,479,222.21 |
| BLG | Bluglass Limited | 0.115 | -12 | $ 93,557,968.79 |
| TMK | Tamaska Oil Gas Ltd | 0.008 | -11 | $ 8,010,000.00 |
| GRV | Greenvale Mining Ltd | 0.098 | -11 | $ 29,792,990.04 |
| DCC | Digitalx Limited | 0.1 | -11 | $ 70,975,557.75 |
| AX8 | Accelerate Resources | 0.067 | -11 | $ 10,743,542.55 |
| AGI | Ainsworth Game Tech. | 0.315 | -10 | $ 117,877,875.15 |
| CAD | Caeneus Minerals | 0.009 | -10 | $ 39,218,459.67 |
| HGO | Hillgrove Res Ltd | 0.036 | -10 | $ 23,423,540.72 |
