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No, we’re not talking about ‘zombie’ companies — defined as stocks that don’t make enough profits to cover their interest payments, after years of gorging on cheap debt in a low-rates environment.
(Incidentally, companies that meet the ‘zombie’ criteria have now risen to the highest level since September 2000, just after the dot-com bubble burst).
Rather, we bring your attention to a new type of tropical storm — one that comes back from the dead.
The storm in question is Hurricane Paulette, which made landfall in Bermuda on September 14 before being downgraded to a low-pressure system.
But after a six-day break Paulette returned with renewed vigour, and has now been re-classified as a tropical storm off the coast of the Azores islands.
Why you ask? Well, as the US National Weather Service aptly explained, “because 2020”:
Because 2020, we now have Zombie Tropical Storms. Welcome back to the land of the living, Tropical Storm #Paulette pic.twitter.com/98QNEaTr4S
— National Weather Service (@NWS) September 22, 2020
On local markets, the storms have abated and it’s been a happy hump day for local investors so far, as the ASX bounced back from a sluggish start to the week with strong gains across the board.
The ASX200 was up 1.7 per cent into midday trade, on track for its best day since September 2, with similar gains for the smaller indices.
The rally follows a strong session on Wall St, and coincides with a selloff in the Aussie dollar which got thumped amid a broader rally in the greenback (USD).
At around US71.3c, the AUD is now trading at its lowest level since early August.
Here are the best performing ASX small cap stocks at 12pm Wednesday, September 23:
Swipe or scroll to reveal the full table. Click headings to sort.
CODE | NAME | PRICE | % CHANGE | MARKET CAP |
---|---|---|---|---|
GAS | State GAS Limited | 0.800 | 40 | $ 83,423,497.98 |
LIN | Lindian Resources | 0.024 | 33 | $ 10,475,093.23 |
EGR | Ecograf Limited | 0.225 | 32 | $ 61,877,750.56 |
VRX | VRX Silica Ltd | 0.145 | 32 | $ 48,961,134.97 |
RMI | Resource Mining Corp | 0.018 | 29 | $ 4,147,742.86 |
ASN | Anson Resources Ltd | 0.024 | 26 | $ 14,885,570.31 |
CRM | Carbon Minerals Ltd | 0.005 | 25 | $ 7,521,397.20 |
ANL | Amani Gold Ltd | 0.003 | 25 | $ 15,676,393.49 |
LCY | Legacy Iron Ore | 0.005 | 25 | $ 24,988,954.07 |
THR | Thor Mining PLC | 0.02 | 25 | $ 6,806,241.86 |
CPV | Clearvue Technologie | 0.29 | 23 | $ 32,533,706.44 |
RDN | Raiden Resources Ltd | 0.016 | 23 | $ 7,001,457.49 |
FYI | FYI Resources Ltd | 0.195 | 22 | $ 38,938,024.80 |
GGG | Greenland Minerals | 0.31 | 22 | $ 303,781,941.15 |
BRK | Brookside Energy Ltd | 0.006 | 20 | $ 6,410,000.00 |
IGN | Ignite Ltd | 0.026 | 18 | $ 1,970,807.85 |
MAY | Melbana Energy Ltd | 0.013 | 18 | $ 25,485,365.53 |
SBW | Shekel Brainweigh | 0.3 | 18 | $ 35,445,000.00 |
ZEU | Zeus Resources Ltd | 0.02 | 18 | $ 3,062,550.00 |
ARO | Astro Resources NL | 0.007 | 17 | $ 8,777,471.47 |
SBR | Sabre Resources | 0.014 | 17 | $ 15,007,755.10 |
Graphite company Ecograf (ASX:EGR) was among the leaders, after releasing a company presentation which coincided with Tesla’s Battery Day extravaganza overnight.
Ecograf, which is building graphite production facilities in WA and China, said it’s positioning for a big market opportunity in lithium-ion batteries, where the electric vehicle (EV) market is “forecast to drive +700 per cent growth in natural graphite demand by 2025”, the company said.
Here are the worst performing ASX small cap stocks at 12pm Wednesday, September 23:
Swipe or scroll to reveal the full table. Click headings to sort.
CODE | NAME | PRICE | % CHANGE | MARKET CAP |
---|---|---|---|---|
CLZ | Classic Min Ltd | 0.002 | -25 | $ 26,084,103.96 |
BUY | Bounty Oil & Gas NL | 0.021 | -22 | $ 25,741,826.51 |
EUR | European Lithium Ltd | 0.048 | -20 | $ 40,137,592.50 |
CZN | Corazon Ltd | 0.002 | -20 | $ 8,133,397.86 |
KPE | Kina Petroleum Corp | 0.525 | -19 | $ 8,253,059.75 |
VPR | Volt Power Group | 0.003 | -17 | $ 27,508,600.67 |
COY | Coppermoly Limited | 0.016 | -16 | $ 40,417,065.79 |
IPB | IPB Petroleum Ltd | 0.022 | -15 | $ 5,996,633.55 |
WBE | Whitebark Energy | 0.003 | -14 | $ 14,220,939.43 |
PKD | Parkd Ltd | 0.033 | -13 | $ 2,855,700.00 |
BUX | Buxton Resources Ltd | 0.096 | -13 | $ 14,966,097.52 |
TMK | Tamaska Oil Gas Ltd | 0.007 | -13 | $ 7,120,000.00 |
ATP | Atlas Pearls Ltd | 0.008 | -11 | $ 3,850,845.82 |
ICG | Inca Minerals Ltd | 0.05 | -11 | $ 11,419,034.93 |
ONX | Orminexltd | 0.025 | -11 | $ 15,094,860.70 |
CWL | Consol Financial Hld | 0.017 | -11 | $ 2,409,728.16 |
FMS | Flinders Mines Ltd | 0.0045 | -10 | $ 211,059,294.05 |
ELT | Elementos Limited | 0.0045 | -10 | $ 15,533,018.68 |