Remember GameStop? It’s back:

The stock more than doubled overnight and got put in a trading halt twice, before adding another ~80pc in after hours trade.

No bleeding hedge funds in the throes of an epic reddit short squeeze to report just yet, although r/wallstreetbets was down for a while (possibly due to a surge in traffic).

This time there was some material company news flow, as the CFO announced he would step down amid what looks like a board stoush.

GME’s recent gains follow an appearance last week by Roaring Kitty (aka investor Keith Gill) in front of the US House Financial Services Committee.

Also known as DeepF**kingValue on reddit, Gill’s bullish hold on GME shares helped spark the first massive surge which rattled markets and prompted a Congressional hearing.

Along with US lawyer Rod Ponton, who is comfortably leading the race for meme of the year so far, Gill confirmed to lawmakers that he too is not a cat.

He also said GME looked attractive at its current value (around $US45 at the time), and has recently doubled down on the stock.

Over on the ASX, it’s been a good morning so far as markets followed a strong overnight lead from US stocks to reverse yesterday’s falls.
 

WINNERS

Here are the best performing ASX small cap stocks at 12pm Wednesday February 25:

Swipe or scroll to reveal the full table. Click headings to sort. Stocks highlighted in yellow made market moving announcements.

CODE NAME PRICE % CHANGE VOLUME MARKET CAP
PIL Peppermint Inv Ltd 0.031 182 378,632,130 $ 15,218,549
ANW Aus Tin Mining 0.0015 50 8,273,262 $ 7,962,318
CLZ Classic Min Ltd 0.0015 50 29,549,547 $ 17,556,867
ECT Env Clean Tech Ltd. 0.0015 50 1,090,000 $ 9,601,033
AMO Ambertech Limited 0.27 42 5,512,302 $ 14,526,449
GBR Greatbould Resources 0.057 39 26,188,150 $ 7,710,451
PCL Pancontinental Oil 0.002 33 3,000,000 $ 8,110,073
ARC Aust Rural Cap Ltd 0.22 26 160,119 $ 2,265,592
ENT Enterprise Metals 0.025 25 5,723,688 $ 10,883,637
MLS Metals Australia 0.0025 25 1,207,000 $ 8,381,807
CDD Cardno Limited 0.45 23 706,034 $ 146,468,019
MSI Multistack Internat. 0.032 23 2,883,581 $ 2,919,902
ADX ADX Energy Ltd 0.011 22 4,858,159 $ 22,186,329
NNG Nexion Group 0.365 22 4,852,903 $ 19,090,172
BRK Brookside Energy Ltd 0.012 20 16,038,869 $ 16,514,586
AQS Aquis Ent Ltd 0.44 19 4,407,359 $ 13,216,095
AFR African Energy Res 0.019 19 71,000 $ 9,967,370
360 Life360 Inc. 4.68 18 357,080 $ 592,829,525
RCP Redbank Copper Ltd 0.11 18 2,024,668 $ 38,141,215
AER Aeeris Ltd 0.13 18 31,000 $ 6,597,124
INP Incentiapay Ltd 0.053 18 980,101 $ 40,759,838
EM2 Eagle Mountain 0.48 17 1,264,210 $ 63,395,380

Payments platform Peppermint Innovation (ASX:PIL) rejoined the ASX boards for the first time since 2019 and ripped higher by almost 200 per cent.

The company was suspended from the ASX following an incomplete audit report, but in the meantime has built out a multi-channel payments platform in its core market of the Philippines.

Last November, PIL raised $500,000 from investors in a placement priced at 1c per share — a material discount to its trading price upon re-listing which had climbed above 3c heading into midday trade.

Elsewhere, audio equipment distributor Ambertech (ASX:AMO) was among the leaders as investors reacted positively to its half-year results.

The company booked a $3.2 million pre-tax profit and opted to pay a 1.5 cent per share dividend.

And recent ASX debutant Nexion (ASX:NNG) also jumped sharply after announcing a five-year “multi-million dollar” deal with IBM to deploy a hybrid cloud solution.

It marks the second deal NNG has signed with IBM in the past 12 months as the company pursues a global partnership strategy.
 

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Wednesday February 25:

Swipe or scroll to reveal the full table. Click headings to sort. Stocks highlighted in yellow made market moving announcements.

CODE NAME PRICE % CHANGE VOLUME MARKET CAP
BAS Bass Oil Ltd 0.001 -33 1,100,542 $ 5,013,210
NCL Netccentric Ltd 0.215 -26 535,225 $ 76,125,000
FIN FIN Resources Ltd 0.016 -24 23,121,788 $ 6,125,520
OEX Oilex Ltd 0.0025 -17 4,911,367 $ 12,500,328
MGL Magontec Limited 0.022 -15 607,275 $ 29,924,045
A2M The A2 Milk Company 8.93 -15 17,010,243 $ 7,760,242,492
BKY Berkeley Energia Ltd 0.59 -14 210,703 $ 178,437,740
SSM Service Stream 1.48 -13 6,329,066 $ 698,642,263
DCX Discovex Res Ltd 0.007 -13 1,277,350 $ 9,569,313
FPL Fremont Petroleum 0.0035 -13 1,425,000 $ 18,714,050
CLT Cellnet Group 0.11 -12 2,040,205 $ 29,824,329
LMG Latrobe Magnesium 0.022 -12 26,180 $ 32,412,577
ADY Admiralty Resources. 0.015 -12 33,500 $ 19,705,290
CAV Carnavale Resources 0.008 -11 390,142 $ 18,380,073
QEM QEM Limited 0.086 -10 345,000 $ 9,600,000
ISU Iselect Ltd 0.31 -10 68,500 $ 75,162,181
CIO Connected Io Ltd 0.009 -10 991,330 $ 4,451,560
TMK Tamaska Oil Gas Ltd 0.009 -10 4,154,116 $ 8,950,000
ORN Orion Minerals Ltd 0.037 -10 5,318,447 $ 139,962,467
EN1 Engage:Bdr Limited 0.005 -9 2,337,011 $ 13,039,095
FGO Fargo Enterprises 0.01 -9 1,236,738 $ 13,043,324
VYS Vysarn Ltd 0.1 -9 2,996,293 $ 39,067,145