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 Tuesday, June 30.
Data is taken after the market closes at 4pm EST.
Stocks highlighted in yellow made market-moving announcements during the day.
Today 908 stocks went up, 474 went down, and 731 didn’t move.
Communication technology company Etherstack (ASX:ESK) dominated the day with a massive +1350 per cent gain – from 12c to $1.75 – after inking an agreement with global behemoth Samsung Electronics.
The +2-year partnership will see Samsung integrate Etherstack’s digital LMR (Land Mobile Radio) “soft-switching” technologies (whatever that is) into its network offering for public safety comms used by first responders such as police, fire and ambulance officers.
“Etherstack has been quietly working with Samsung over the past 12 months developing secure and efficient solutions to integrate public safety networks used by first responders to next generation cellular networks,” Etherstack chief exec David Deacon says.
Etherstack gets revenues in the future when Samsung and Etherstack together supply technology to Samsung’s customers, the company says.
IT play PS&C (ASX:PSZ) is up 33 per cent on a brief — but positive — business update.
The company says it has successfully minimised the impact of COVID-19 on its financial performance “which will be reflected in our full-year results for FY20”.
Fintech Identitii (ASX:ID8) will hire three financial services industry veterans from Travelex, Deutsche Bank and Standard Chartered Bank to accelerate global sales and business development activities.
The stock was up 26 per cent to 12c per share.