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Closing Bell: Cybersecurity and Edtech stocks lead the way as ASX small caps sell off
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The ASX drifted sideways on Wednesday, as uncertainty continues to linger around the outlook for monetary policy, interest rates and broader market liquidity following the reappointment of Jerome Powell as US Fed chair.
While the ASX 200 traded flat, there were bigger falls at the small end of town as the microcap Emerging Companies index underperformed with a decline of 1.37%.
Despite the macroeconomic concerns, ASX small caps saw another round of capital raisings and outsized share price moves following market-moving announcements.
TODAY’S BIGGEST SMALL CAP WINNERS
(Stocks highlighted in yellow rose after making announcements during the trading day).
Scroll or swipe to reveal table. Click headings to sort.
| Code | Company | Price | % | Volume |
|---|---|---|---|---|
| SOV | Sovereign Cloud Hldg | 0.815 | 40.4% | 1,319,580 |
| KNM | Kneomedia Limited | 0.022 | 37.5% | 6,192,759 |
| BAS | Bass Oil Ltd | 0.002 | 33.3% | 4,300,000 |
| CAE | Cannindah Resources | 0.245 | 32.4% | 5,895,069 |
| KOR | Korab Resources | 0.08 | 27.0% | 48,319,941 |
| TRT | Todd River Res Ltd | 0.12 | 25.0% | 3,184,596 |
| XTC | Xantippe Res Ltd | 0.005 | 25.0% | 2,323,043 |
| ICI | Icandy Interactive | 0.19 | 22.6% | 33,989,776 |
| KEY | KEY Petroleum | 0.003 | 20.0% | 300,000 |
| VR1 | Vection Technologies | 0.255 | 18.6% | 19,051,534 |
| HIO | Hawsons Iron Ltd | 0.105 | 18.0% | 11,096,716 |
| IGN | Ignite Ltd | 0.145 | 16.0% | 24,677 |
| WSP | Whispir Limited | 2.42 | 15.8% | 1,523,067 |
| CDT | Castle Minerals | 0.03 | 15.4% | 39,155,148 |
| TWR | Tower Limited | 0.68 | 15.3% | 277,052 |
| AAP | Australian Agri Ltd | 0.031 | 14.8% | 86,377 |
| JRL | Jindalee Resources | 2.57 | 13.7% | 69,674 |
| DOR | Doriemus PLC | 0.13 | 13.0% | 288,078 |
| NCL | Netccentric Ltd | 0.13 | 13.0% | 68,600 |
| RD1 | Registry Direct | 0.035 | 12.9% | 91,130 |
| EVE | EVE Investments Ltd | 0.0045 | 12.5% | 29,620,948 |
| HAW | Hawthorn Resources | 0.1 | 12.4% | 815,165 |
| SUV | Suvo Strategic | 0.14 | 12.0% | 83,498 |
| SCN | Scorpion Minerals | 0.075 | 11.9% | 586,402 |
| LLO | Lion One Metals Ltd | 1.35 | 11.6% | 12,671 |
The biggest winner on the day was cybersecurity play Sovereign Cloud Holdings (ASX:SOV), which held its gains from morning trade after announcing the successful completion of a share placement to NextDC (ASX:NXT).
The two companies confirmed that NXT will acquire a 19.99% stake in SOV for just over $12 million. Along with a separate institutional raise, Sovereign Cloud added a ~$35m warchest to fund the expansion of its AUCloud network with new platforms in Melbourne, Brisbane and Adelaide.
Also at the top of the winner’s list was ed-tech platform KneoMedia (ASX:KNM) as investors responded to a CEO presentation this morning, outlining the company’s strategy to drive the growth of its SaaS-based digital learning platform, with a focus on the US market.
Elsewhere, ASX game developer iCandy Interactive (ASX:ICI) continued its strong recent rally following the announcement of a $40m capital raising last week.
VR/AR-focused tech platform Vection Technologies (ASX:VR1) is also finding strong demand with investors — up by around 150% over the past month.
In resources, copper explorer Cannindah Resources (ASX:CAE) led the pack, jumping by more than 30% on no news.
TODAY’S BIGGEST SMALL CAP LOSERS
(Stocks highlighted in yellow rose after making announcements during the trading day).
Scroll or swipe to reveal table. Click headings to sort.
| Code | Company | Price | % | Volume |
|---|---|---|---|---|
| PCL | Pancontinental Energ | 0.0015 | -25.0% | 13,413,861 |
| WOO | Wooboard Tech Ltd | 0.0015 | -25.0% | 2,551,845 |
| DTI | DTI Group Ltd | 0.023 | -20.7% | 329,514 |
| AO1 | Assetowl Limited | 0.004 | -20.0% | 552,696 |
| AHI | Adv Human Imag Ltd | 0.965 | -19.6% | 925,515 |
| HMI | Hiremii | 0.058 | -18.3% | 228,714 |
| ATR | Astron Corp Ltd | 0.3 | -17.8% | 25,000 |
| CCE | Carnegie Cln Energy | 0.0025 | -16.7% | 13,563,017 |
| MLS | Metals Australia | 0.0025 | -16.7% | 8,626,058 |
| WC8 | Wildcat Resources | 0.056 | -16.4% | 6,938,488 |
| PGO | Pacgold | 0.48 | -15.0% | 226,631 |
| IVT | Inventis Limited | 0.115 | -14.8% | 35,247 |
| TMR | Tempus Resources Ltd | 0.12 | -14.3% | 2,480,765 |
| RAC | Race Oncology Ltd | 3.24 | -14.1% | 1,541,526 |
| WCG | Webcentral Group Ltd | 0.435 | -13.0% | 1,075,832 |
| ZIM | Zimplats Holding Ltd | 21.26 | -12.9% | 11,454 |
| RDS | Redstone Resources | 0.014 | -12.5% | 4,619,732 |
| GWR | GWR Group Ltd | 0.105 | -12.5% | 862,424 |
| ASO | Aston Minerals Ltd | 0.11 | -12.0% | 2,549,163 |
| TMS | Tennant | 0.022 | -12.0% | 605,587 |
| LBY | Laybuy Group Holding | 0.335 | -11.8% | 2,072,874 |
| DC2 | Dctwo | 0.15 | -11.8% | 240,393 |
| IHR | intelliHR Limited | 0.19 | -11.6% | 484,233 |
| DBO | Diablo Resources | 0.115 | -11.5% | 214,424 |
| SMI | Santana Minerals Ltd | 0.31 | -11.4% | 389,540 |
Among stocks with news, Advanced Human Imaging (ASX:AHI) (formerly known as MyFiziq) led the laggards after announcing it had closed a US$10.5 Million U.S. Initial Public Offering on the Nasdaq index.
The company also confirmed it had settled two convertible note subscription agreements with Asia Cornerstone Asset Management (ACAM) and iConcept Global Growth Fund “by mutual agreement”.
