ASX Small Cap Lunch Wrap: Who’s wishing they’d chose something different today?

There’s no shortage of investors on the hunt to find another Xero (ASX:XRO), Afterpay (ASX:APT) or Bitcoin, but it’s proving tricky.

And even investors already in these type of assets are having tough times – a jump in net profit from $3.3 million to $19.8 million couldn’t save Xero (ASX:XRO) from a fall over 10 per cent.

As for crypto, it seems many are at the mercy of Elon Musk. Bitcoin plunged over 7 per cent overnight after Tesla suspended the use of BTC to purchase vehicles, having only allowed it two months earlier.

And while his endorsement of Dogecoin in February was a good thing, he’s been silent on it except when he made a joke on Saturday Night Live over the weekend about it being a scam. That saw it fall over 28 per cent in a matter of hours.

If you’d thought it was travel and tourism that could make you rich – especially with airlines reporting domestic flights were doing even better than pre-COVID – it hasn’t been a good week for you so far. Sadly, revelations on Tuesday that international travel could continue to be non-existent until mid 2022 has been bad for stocks like Qantas (ASX:QAN), which has shed 20 per cent in a month. And Regional Express (ASX:REX) has lost 25 per cent since it launched domestic jet services.

It is a negative day for markets, with the ASX 200 sitting 0.37 per cent down as at 11.45am, marking the third straight day of losses. But there were a few winners today.

WINNERS

Here are the best performing ASX small cap stocks to 11:30am on Wednesday, May 12

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