Investors in Kodak camera company are smiling today after a huge market rally this week. (Pic: Getty)
ASX Small Cap Lunch Wrap: Who’s smiling for the camera today?
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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 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:
Swipe or scroll to reveal the full table. Click headings to sort.
| 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 |
