Closing Bell: Today’s biggest small cap movers on the ASX
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A quick wrap of the key winners and losers on Monday, May 18.
Data is taken after the market closes at 4pm EST.
Stocks highlighted in yellow made potential market-moving announcements during the day.
Wide Open Agriculture (ASX:WOA) was up +100 per cent after signing a deal with Curtin Uni in WA to develop and commercialise a proprietary plant-based lupin protein technology.
The plant-based protein market was worth ~$US18.5 billion in 2019 and is forecast to grow at 14 per cent per annum to reach $US40.6 billion by 2025, the company says.
A subsidiary of package tracker Yojee (ASX:YOJ) has signed a 3-year services agreement to roll out its SaaS logistics platform in the Philippines.
The services agreement and fees “are not financially material at this stage”, but the stock was still up ~80 per cent for the day.
Vmoto (ASX:VMT) sold 4,121 scooters for the March quarter; an 8 per cent increase compared to the same period last year.
The stock was up +35 per cent on “an extremely strong order book for the coming quarter”.
And Atrum Coal (ASX:ATU) says the Alberta government in Canada will be repealing an old coal development policy which means “the coal industry in Alberta will now be subject to the same land use policies as other commodities within the province”.
The stock, which was +25 per cent for the day, says this is a big step forward “for the targeted progression and future development of our flagship Elan Hard coking coal project”.