Here’s where Predictive Discovery’s 733pc rise in 1 day sits in the record books
Link copied to
On Wednesday one ASX small cap caught the market’s attention and closed the day out with the biggest one-day gain since 2017.
Africa-focused gold explorer Predictive Discovery (ASX:PDI) rocketed 733 per cent with a solid gold discovery at its project in Guinea.
Among 2020 surges, no other stock comes close. The runner up is reward programs play Rewardle Holdings (ASX:RXH) which gained 500 per cent last Monday on the back of no news.
Taking bronze place is TBG Diagnostics (ASX:TDL) after its COVID-19 test kits were approved for sale in Europe, news that sent shares up 438 per cent on March 16. A day later shares climbed even further making the company a 10-bagger in just two days.
While Predictive Discovery’s rise is unprecedented this year, it does not take top billing. In the last 10 years the record belongs to Stemcell United (ASX:SCU).
In 2017, the cannabis sector was that hot all it did was say it was looking to enter the industry and it rocketed 3,054 per cent in one day.
But since then it has crashed back to earth, lagging similar companies somewhat in commercialising and distributing cannabis products.
Now delisted Mission NewEnergy (ASX:MBT) rose over 2,000 per cent on the very day it announced a company ‘transformation’. It sold a refinery and repaid a $25m debt while retaining a joint-venture interest.
Spiking 750 per cent one day in 2015 was GPS Alliance Holdings (ASX:GPS), which is also delisted now. Similar to TBG, it rose off the back of big news being leaked — that it was negotiating to form a joint-venture in Singapore.