Lunchtime ASX small cap wrap: Who wants to ‘storm the woodchip pile’ (but won’t) today?

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1,000 Tasmanians indicated on Facebook they were attending a self-explanatory event at the Port of Burnie, ‘Storm the Woodchip Pile’. But they won’t be.

Inspired by the ‘Storm Area 51’ event in Nevada (which 1.4 million people will attend), a local high school student set this up as a bit of a laugh.

But Tasmanian Police aren’t laughing. Inspector Adrian Shadbolt said said, “he content has serious ramifications as it was encouraging others to break the law”.

https://www.facebook.com/Tas.Police/posts/2416991235047429

What should you do instead this weekend in Burnie? Perhaps go and watch the footy. Burnie has one of the best looking grounds in Australia.

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Today, the ASX small Ords is up 0.2 per cent to 2,896 but the ASX 200 is down 0.26 per cent to 6,656.

We learnt that the unemployment rate is unchanged at 5.2 per cent. But what was the more interesting release today was NAB’s quarterly business confidence. While the headline figure was improved this quarter the uplift from the Federal Election was short-lived. Nevertheless NAB Chief Economist Alan Oster noted, “mining continues to see the most favourable conditions”.

Wall Street ended lower overnight and among earnings overnight was Netflix, which anticipated 5 million new subscribers last quarter but only got 2.7 million. CEO Reed Hastings has blamed price hikes and a lack of original content so you can imagine we’ll see plenty of it this quarter.

Going up

Imagion Biosystems (ASX: IBX) soared 220 per cent after receiving FDA approval for its breast cancer fighting device.

Yesterday we reported Pioneer Resources (ASX: PIO) had stumbled across lithium in the same area Galaxy and Liontown had success. Shareholders seem to have only picked up today as it’s up 21 per cent.

Here are the best performing ASX small cap stocks at lunchtime, Thursday July 18:

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

Going down

Metgasco (ASX: MGO) announced it was out of its failed well, operated in conjunction with Byron Energy (ASX: BYE). But it’s down another 12 per cent today.

Here are the worst performing ASX small cap stocks at lunchtime, Thursday July 18:

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

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