In the latest episode of ‘COVID-19 Share Market Head-Turners’, US camera company Kodak has gone running with the bulls this week.

Shares in the New York-headquartered outfit have climbed by a lazy 1,500 per cent in three days, after the Trump administration granted it a $US765m loan to help make drugs in the fight against coronavirus.

For a company who’s struggle to grasp the mechanics of the digital camera market saw it land in bankruptcy  in 2012, this marks one of the smoothest pivots since Shaquille O’Neal was plying his trade on the low block for the LA Lakers.

Kodak Shaq doing his thing

Kodak shares began the week at $2.10 before closing at $33 on Wednesday, sending its market cap from $92m to around $1.5bn.

The rally didn’t escape the attention of retail investors on US trading app Robinhood, with more than 117,000 accounts holding the stock by Wednesday’s close. According to the FT, less than 10,000 Robinhood investors held Kodak shares before Monday’s open.

On local markets…

The ASX started well and has held its gains into midday trade, with the ASX200 pushing back above the 6,000 level while the Small Ords Index was 0.5 per cent higher at 2,677.50.

Markets have so far shrugged off some more brutal COVID-19 news, with Victoria reporting a record high 723 new infections and 13 deaths overnight.

The main story in global currencies continues to be the relative weakness of the US dollar, which saw the AUD have a crack at US72c overnight before easing back slightly today.

And gold is still flirting with the $US2,000 barrier, with US dollar gold holding comfortably above $1,950 in morning trade.

SMALL CAP WINNERS

Here are the best performing ASX small cap stocks at 12pm Thursday July 30:

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CODE COMPANY PRICE CHANGE MARKET CAP
CTO Citigold Corporation 0.025 108.33% $62.4M
UUV UUV Aquabotix 0.002 50.00% $1.8M
ELS Elsight 0.455 51.67% $50.8M
CE1 Calima Energy 0.004 33.33% $8.7M
MMM Marley Spoon 3.21 33.75% $568.5M
VIP Voltage IP 0.135 28.57% $101.2M
IKE Ikegps Group 0.85 27.63% $68.5M
DDT DataDot Technology Ltd 0.005 25.00% $5.0M
POW Protean Energy 0.012 20.00% $3.1M
AZI Alta Zinc 0.006 20.00% $13.8M
ISU Isentric Ltd 0.037 19.35% $41.5M
RNT RENT.COM.AU Ltd 0.038 18.75% $9.7M
EM1 Emerge Gaming 0.033 13.79% $19.1M
IVZ Invictus Energy 0.036 16.13% $14.3M
FCT Firstwave Cloud 0.145 16.00% $81.0M
SOR Strategic Elements Ltd 0.072 14.29% $20.9M
AVA Ava Risk Group 0.205 14.29% $46.4M
GBR Great Boulder Resources Ltd 0.057 14.00% $7.6M
RVR Red River Resources Ltd 0.125 13.64% $64.5M
NVU Nanoveu 0.087 12.99% $11.2M
MKR Manuka Res 0.43 12.99% $108.5M

 

Drone technology company Elsight (ASX:ELS) was among the market leaders, ripping higher by 80 per cent after announcing a distribution agreement with US company Kinetx Prime.

The deal will kick off with a $US1.6m (~$2.3m) order for Elsight’s flagship Halo product — a remote-drone communication platform — into the US market.

Elsight said the deal is the result of a long pathway to secure regulatory approval from the Federal Communications Commission, and the company said it expects to see “repeat orders of up to the same value over the course of the next 36 months”.

And with June quarterlies season in full swing, these are the companies that got investors excited this morning.

SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks at 12pm Thursday July 30:

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

CODE COMPANY PRICE CHANGE MARKET CAP
ROG Red Sky Energy 0.001 -33.33% $1.6M
BSM Bass Metals Ltd 0.003 -25.00% $10.5M
JPR Jupiter Energy 0.024 -20.00% $3.7M
ANP Antisense Therapeutics 0.081 -19.00% $40.1M
TD1 Tali Digital 0.028 -17.65% $21.0M
NWF Newfield Resources Ltd 0.165 -17.50% $95.9M
ADD Adavale Resources Ltd 0.021 -16.00% $3.4M
NZS New Zealand Coastal Seafoods 0.028 -15.15% $20.4M
PWN Parkway Minerals 0.006 -14.29% $10.4M
POD Podium Minerals 0.043 -14.00% $12.9M
BUY Bounty Oil and Gas NL 0.013 -13.33% $12.4M
IGN Ignite 0.039 -13.33% $3.5M
MOH Moho Resources 0.145 -12.12% $10.1M
WSI Weststar Industrial 0.016 -11.11% $15.0M
XTD XTD Ltd 0.041 -10.87% $5.7M
AWV Anova Metals Ltd 0.025 -10.71% $31.2M
CIO Connected IO 0.026 -10.34% $6.3M
YPB YPB Group Ltd 0.004 -10.00% $7.6M
MLL Mali Lithium 0.14 -9.68% $44.4M
FLC Fluence 0.19 -9.52% $121.9M