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Like many countries, Australia’s economy is struggling through a pandemic-related supply chain crunch.
With Omicron off the leash across the east coast capitals, multiple industries are experiencing varying versions of logistics hell.
To ease the burden, Prime Minister Scott Morrison hatched a new idea; allow kids under 18 to drive forklifts.
ScoMo subsequently backed down after the premise was met with a swift rebuke.
But not before the story got wide media attention, providing us with a prism to contribute by way of this classic scene which opened the UK series of The Office:
Note to all Aussie teenagers: your forklift dreams might still stand a chance, as long as the man who gives the forklift drivers test ‘is a personal friend’ of your boss. (Ed note: Don’t apply for a fake licence).
To markets, and US stocks got battered again overnight as investors continue to reposition for the prospect of tighter financial conditions, following a two-year COVID-19 liquidity dump.
In turn, local stocks are getting a major clip ’round the ears to end the week. The ASX 200 is down more than 1% in midday trade, while the microcap Emerging Companies index is ~3% lower — on track for its biggest fall since early December.
BNPL stocks are getting sold off again, but the main drag was a big reversal in energy and resources stocks, which partially reversed a strong recent winning streak with sharp falls on Friday.
Other risk assets are also under pressure, with a similar sea of red in crypto markets as Bitcoin again looks to hold above the US$40,000 level in Asian trade.
Here are the best performing ASX small cap stocks for January 21 [intraday]:
Swipe or scroll to reveal full table. Click headings to sort:
Code | Company | Price | % | Market Cap |
---|---|---|---|---|
VPR | Volt Power Group | 0.003 | 50% | $18,689,067 |
CAV | Carnavale Resources | 0.015 | 25% | $29,162,764 |
MLS | Metals Australia | 0.0025 | 25% | $10,477,115 |
PCL | Pancontinental Energ | 0.0025 | 25% | $14,308,446 |
XRG | Xreality Group Ltd | 0.066 | 22% | $18,181,805 |
EMU | EMU NL | 0.025 | 19% | $11,546,104 |
99L | 99 Loyalty Ltd. | 0.032 | 19% | $31,311,435 |
MTB | Mount Burgess Mining | 0.007 | 17% | $4,555,027 |
OMX | Orangeminerals | 0.185 | 16% | $6,595,200 |
CLE | Cyclone Metals | 0.004 | 14% | $17,335,941 |
ORN | Orion Minerals Ltd | 0.03 | 13% | $114,821,196 |
CNJ | Conico Ltd | 0.043 | 13% | $38,008,165 |
CTO | Citigold Corp Ltd | 0.009 | 13% | $22,669,273 |
EVE | EVE Health Group Ltd | 0.0045 | 13% | $15,372,568 |
MEB | Medibio Limited | 0.0045 | 13% | $8,244,204 |
XST | Xstate Resources | 0.0045 | 13% | $12,860,727 |
DGR | DGR Global Ltd | 0.068 | 11% | $63,546,169 |
HAW | Hawthorn Resources | 0.105 | 11% | $31,683,983 |
VR/AR based entertainment company XReality Group (ASX:XRG) — formerly Indoor SkyDiving Australia — was one of few stocks to outperform, jumping back towards its recent highs near 7c after announcing the appointment of John
Diddams as chairman.
Diddams returns to the company after previously serving as a director and assisting with its 2013 IPO. He also sits on the board of two other companies — Volpara Health Technologies (ASX:VHT) and Aroa Biosurgery Limited (ASX:ARX).
Among junior explorers, Alderan Resources Limited (ASX:AL8) posted a morning gain of as much as 10% after advising that a UAV (drone) magnetic survey carried out by a Rio Tinto subsidiary had identified three new targets at Alderan’s Frisco project in Utah, USA.
Key exploration targets at the site are “porphyry copper-gold-molybdenum deposits, and high-grade copper deposits associated with known breccias such as Cactus”, AL8 said.
Here are the worst performing ASX small cap stocks for January 21 [intraday]:
Swipe or scroll to reveal full table. Click headings to sort:
Code | Company | Last | % | Market Cap |
---|---|---|---|---|
OXT | OreXplore | 0.13 | -48.0% | $25,916,049 |
FEX | Fenix Resources Ltd | 0.235 | -25.4% | $158,197,385 |
ANL | Amani Gold Ltd | 0.0015 | -25.0% | $45,751,128 |
BAS | Bass Oil Ltd | 0.0015 | -25.0% | $9,225,363 |
AAJ | Aruma Resources Ltd | 0.09 | -21.7% | $14,485,573 |
BEZ | Besragoldinc | 0.11 | -21.4% | $24,058,994 |
TSC | Twenty Seven Co. Ltd | 0.004 | -20.0% | $13,304,070 |
NXL | Nuix Limited | 1.675 | -18.7% | $653,668,476 |
BMM | Balkanminingandmin | 0.41 | -17.2% | $16,211,250 |
CGS | Cogstate Ltd | 1.93 | -16.8% | $402,137,195 |
CGB | Cann Global Limited | 0.0025 | -16.7% | $19,006,460 |
SMI | Santana Minerals Ltd | 0.265 | -15.9% | $41,780,746 |
4DS | 4Ds Memory Limited | 0.097 | -15.7% | $166,413,607 |
CRR | Critical Resources | 0.12 | -14.3% | $184,109,957 |
DDD | 3D Resources Limited | 0.003 | -14.3% | $13,581,302 |
REE | Rarex Limited | 0.12 | -14.3% | $63,223,049 |
GO2 | Thego2People | 0.031 | -13.9% | $14,638,977 |
ESS | Essential Metals Ltd | 0.505 | -12.9% | $140,096,596 |
ATU | Atrum Coal Ltd | 0.027 | -12.9% | $21,319,888 |
SP3 | Specturltd | 0.068 | -12.8% | $8,291,812 |
ARR | American Rare Earths | 0.375 | -12.8% | $168,503,619 |
PLY | Playside Studios | 1.1 | -12.7% | $181,804,417 |
SPN | Sparc Tech Ltd | 1.855 | -12.5% | $135,194,965 |
PNT | Panthermetalsltd | 0.245 | -12.5% | $7,840,000 |
CHR | Charger Metals | 0.775 | -12.4% | $28,347,466 |
Among the laggards, Orexplore Technologies (ASX:OXT) fell sharply on debut, after raising $2.5m at 25c a share in its IPO.
Elsewhere, iron ore play Fenix Resources (ASX:FEX) fell following the release of its quarterly 4C filing, where it booked net operating cash outflows of more than $11m on cash receipts of ~$34m.