Lunchtime ASX small cap wrap: Who’s getting a speeding ticket today?
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Sonic the Hedgehog looks like something nightmares are made of in this new trailer. Tiny feet, small eyes, blue arms… and teeth.
There wasn’t much speeding on US markets yesterday. Technology shares were the weakest, weighed down by a 7.7 per cent fall in the share price of Alphabet (Google) following its poor revenue announcement after the bell on Monday.
Alphabet’s worst day in more than six years saw about $US70 billion wiped from its market cap – and it’s blaming YouTube.
Yet the local market has enjoyed gains in morning trade, with the ASX Small Ords index up again 3.1 points to 2858.1 by 11:30am AEST.
Here’s all your morning small cap winners and losers for Wednesday, May 1:
Electric motorbike maker Vmoto (ASX: VMT) has signed a deal with Italian motorcycle manufacturer Ducati, sending shares up almost 40 per cent in morning trade.
Under the agreement, Vmoto will release “2-wheel electric vehicles” bearing the Ducati brand and label, which will be “marketed as a high-end, luxury product to consumers at a premium price”.
And cloud-based cyber security exchange provider WhiteHawk (ASX:WHK) has won a sub-contracting role on a purported $2.8 billion US government project, but it can’t say who it is with — yet.
WhiteHawk shares rose to a three-month high of 8.1c on the news, a 27 per cent gain.
In November last year shares nearly tripled when the company revealed it was providing its 360 Cyber Risk Framework service to various US government departments to beef up defences against attacks on their supply chains.
Your morning winners:
Shares in Boom Logistics (ASX:BOL) fell 16 per cent after the crane company marginally reduced its previous revenue guidance after weather, bushfires, and industrial action in NSW led to project delays.
At the head of the downward spiral were mineral explorers Victory Mines (ASX:VIC) and New World Cobalt (ASX:NWC), and telco services provider Syntonic (ASX:SYT).
Your morning losers: