Lunchtime ASX small cap wrap: Who’s fighting for their life today?
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We won’t tell you who won the battle for Winterfell on Game of Thrones last night, in what was the longest recorded fight scene in television and movie history.
But on the ASX Small Ords this morning, the level of drama has been slightly more muted. For one thing, the Night King and his army of the dead aren’t looking to erase the recorded history of the Seven Kingdoms.
But that doesn’t mean everything’s rosy, with local stocks struggling for traction in morning trade. As at 12:00pm AEST, the Small Ords was down 9.6 points, or 0.34 per cent, to 2,849.70.
Employment technology stock Nvoi Ltd (ASX: NVO) doubled up to 1 cent per share after announcing a round of board and management changes. CEO Jennifer Maritz and company secretary Michael Bermeister are out, with John Winters stepping into the role of interim CEO on a salary of $120,000 per year.
Also posting a 100 per cent gain was tiny data-sharing company Shareroot (ASX: SRO), which jumped to 0.2 cents on no news.
And it’s been a good session for PainChek (ASX:PCK), which makes mobile medical apps that use facial recognition to assess pain in medical patients.
The stock jumped by 13 per cent yesterday after announcing a $5m grant from the Morrison government, and soared by more than 70 per cent today to 6.1 cents following the release of its quarterly trading update. Painchek said the government funding will be used to expand the rollout of its pain-testing technology in aged care facilities.
Here are the best performing ASX small cap stocks at 12.00pm AEST, Tuesday, April 30.
Telecoms minnow United Networks (ASX: UNL) led the laggards today, falling by 35 per cent to 1.3 cents in morning trade. The company’s share price has been in steady decline since it listed in early 2017 with a stable of blue-chip backers at 20 cents per share.
Elsewhere, there was the usual round of 20-30 per cent declines among junior mining stocks, led by Mount Ridley Mines Ltd (ASX:MRD), Gladiator Resources (ASX: GLA) and Alloy Resources (ASX: AYR) which all lost a third of their value.
Here are the worst performing ASX small cap stocks at 12.00pm AEST, Tuesday, April 30.