Lunchtime ASX small cap wrap: Who’s got the feeling someone’s watching them?
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There is something on the dark side of the moon after all. Something huge, and possibly metallic.
Scientists at Baylor University, US, said the object is about five times the size of the Big Island of Hawaii and is buried about 300km deep.
Whatever it is, it hit hard. But even at that depth, it’s exerting the kind of gravitational force that can drag down the floor of the Moon’s South Pole-Aitken Basin by more than a kilometre.
The space mining race has officially kicked off.
Back on earth, local markets raced ahead after a strong lead from the US stocks.
Shortly after the midday, the ASX Small Ords was up 34 points to 2,824.70 — a gain of more than 1.2 per cent.
IT company Connected IO (ASX: CIO) had a good morning, after announcing that its recent focus on the US auto market is beginning to bear fruit.
The company said it had booked sales for various in-vehicle IoT devices such as real-time streaming and weather sensors, resulting in $794k of revenue so far this year. Evidence of traction in the US market was the catalyst for a 50 per cent gain in CIO’s share price this morning.
Also in the winner’s list was Dacian Gold (ASX: DCN), which stood out last week as the worst performer on the ASX following another production downgrade. Some buyers stepped back in to send the stock up 10 cents to 48 cents — a gain of 25 per cent.
And there was a new addition which grabbed the market’s attention, as fintech SME lender Prospa (ASX: PGL) hit the ASX boards at 12pm and immediately shot higher. From a listing price of $3.78, PGL commenced trading at $4.46 — an opening gain of almost 19 per cent.
Here are the best performing ASX small cap stocks at lunchtime, Tuesday June 11 (list doesn’t include Prospa):
On the other end of the scale, IT minnow Intiger Group (ASX: IAM) slumped 50 per cent to 0.1 cents on no news.
There was also the usual round of falls among low-liquidity junior mining and energy companies with two down by a third, four more losing 25 per cent and another 6 down 20 per cent in morning trade.
Here are the worst performing ASX small cap stocks at lunchtime, Tuesday June 11: