Two years ago, Beijing-based car trading platform Renrenche had a valuation of $2 billion. Now it could be sold for just ~$1,400.

Renrenche was one of China’s hottest tech unicorns (a privately held start-up company with a value of over $1 billion), backed by deep-pocketed investors including Goldman Sachs and Tencent.

It ran into financing troubles “amid the unravelling of China’s once-booming sharing economy”, according to Bloomberg.

Where does its rate amongst failed unicorns?

Live sports streaming start-up LeSports raised $2.4 billion before filing for bankruptcy in 2019 owing ~$5 billion to creditors.

In 2014, much-hyped Fitbit wannabe Jawbone had a valuation of $4.5 billion. It failed to crack the ‘wearables’ market and began liquidating assets just three years later.

Then there’s infamous office space provider WeWork. It’s China business, which was valued at $7 billion in 2018, recently sold for just $280 million.

Today, it was Quibi’s turn. Never heard of it? Investors are certainly trying to forget it – the “quick bites” video app burned through $US2 billion in six months and shut its doors today. Ouch.

To Markets:

Both US and European share markets closed slightly lower Wednesday.

Despite this, of the 84 S&P 500 firms on Wall Street that have reported third-quarter results, 85.7 per cent have topped lowered earnings expectations, according to IBES Refinitiv data.

The Aussie market was off to a bad start, with the benchmark ASX 200 index plunging more than 1 per cent to 6,128 points on the open.

It had recovered slightly by midday to be ~0.7 per cent in the red.

WINNERS:

Here are the best performing ASX small cap stocks at 12pm Thursday, October 22:

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

CODE COMPANY PRICE % CHANGE MARKET CAP
M2R Miramar 0.52 155 $ 8,445,504.00
MYD Mydeal.Com.Au 1.86 86 $ 258,827,306.00
8IH 8I Holdings 0.24 71 $ 50,646,272.74
MRR Minrex Resources 0.04 50 $ 6,541,837.54
AYM Australia United Mining 0.03 47 $ 35,008,972.22
ESH Esports Mogul 0.02 36 $ 28,602,928.59
CCE Carnegie Clean Energy 0.002 33 $ 16,712,178.68
PSL Paterson Resources 0.004 33 $ 13,516,599.18
EM1 Emerge Gaming 0.11 31 $ 59,857,978.07
ERL Empire Resources 0.02 21 $ 12,722,500.31
WBE Whitebark Energy 0.003 20 $ 10,157,813.88
AFR African Energy Resources 0.03 18 $ 13,705,133.86
DCC Digitalx 0.06 17 $ 29,007,401.86
HCT Holista CollTech 0.11 17 $ 24,781,417.83
RTG RTG Mining 0.21 17 $ 111,210,327.72
AOA Ausmon Resorces 0.0070 17 $ 3,909,236.06
NPM Newpeak Metals 0.0035 17 $ 13,095,487.53
RFN Reffind 0.0035 17 $ 3,729,775.86
VAL Valor Resources 0.0070 17 $ 11,525,088.51
AEV Avenira 0.02 16 $ 16,394,203.54

Explorers Australia United Mining (ASX:AYM) and MinRex Resources (ASX:MRR) surged after inking a joint venture agreement over a project in the popular Lachlan Fold Belt of NSW.

It’s a great day to be an ASX debutante. eCommerce company MyDeal (ASX:MYD) has more than doubled, while Miramar Resources (ASX:M2R) is currently up +140 per cent.

And a tie-up with the NASDAQ-listed Super League Gaming (SLGG) has moved the needle for gaming tournament platform Esports Mogul (ASX:ESH).

LOSERS:

Here are the best performing ASX small cap stocks at 12pm Thursday, October 22:

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

CODE NAME PRICE % CHANGE MARKET CAP
ECT Env Clean Tech 0.001 -33 $ 14,401,549.18
PCL Pancontinental Oil 0.001 -33 $ 8,110,073.23
CLZ Classic Minerals 0.0015 -25 $ 26,678,279.47
MLS Metals Australia 0.002 -20 $ 9,120,881.94
NWE Norwest Energy 0.004 -20 $ 23,672,335.37
VOR Vortiv 0.15 -19 $ 25,997,007.16
MRD Mount Ridley Mines 0.0025 -17 $ 8,048,381.86
RAS Ragusa Minerals 0.115 -15 $ 14,123,029.05
CYQ Cycliq Group 0.003 -14 $ 6,859,054.94
FGO Flamingo Ai 0.003 -14 $ 3,920,446.96
DAV Davenport Resources 0.065 -13 $ 14,778,941.18
AMD Arrow Minerals 0.007 -13 $ 10,677,104.08
AJQ Armour Energy 0.039 -11 $ 51,105,761.87
HCD Hydrocarbon Dynamic 0.032 -11 $ 12,487,814.89
LSA Lachlan Star 0.016 -11 $ 15,774,581.93
DEV Devex Resources 0.25 -11 $ 68,895,075.20
SMN Structural Monitor 0.405 -10 $ 53,790,039.00
PKD Parkd 0.027 -10 $ 2,254,500.00