Mormons know their meme stocks. The Church of the Latter Day Saints made massive profits from the GameStop short squeeze earlier this year.

Recent security filings show the Mormon’s investment branch bought 46,000 GameStop shares near the end of 2020 valued at $US867,000.

Following the r/wallstreetbets led short squeeze, the value of that purchase has skyrocketed to ~$US7,750,000.

That’s a ~800% gain. Who needs donations?
 

To Markets:

On Friday, European share markets generally rose on upbeat economic data, while Wall Street was mixed (Dow up, S&P 500 and NASDAQ down).

Spot gold continues its upward trend — trading near US$1,880/oz at the US close — while iron ore fell to $US200.10/t.

The Aussie bourse is marginally up in morning trade, with the benchmark ASX 200 index gaining 5.5 points to 7,035.8 by 11:50am eastern time.
 

WINNERS

Here are the best performing ASX small cap stocks at 12pm Monday, May 24:

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

Spain-based mine developer Infinity Lithium (ASX:INF) has bounced back from a precipitous fall, sparked by the cancellation of a project permit on May 17.

The company – which has lodged an appeal against the decision — said it met with the European Commission VP “to directly address the current status of the project”.

Alongside mine finder Chalice (ASX:CHN), Caspin Resources (ASX:CPN) – formerly Cassini – was hunting nickel-copper-PGEs in the Julimar region near Perth well before it was cool.

Today it announced “significant widths of sulphides” in two holes 1.25km apart at the flagship Yarawindah Brook project.

 

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Monday, May 24:

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

Biotech Jayex Healthcare (ASX:JHL) fell after announcing a small cap raise at a ~16% discount to the pre-open share price.