Well, another morning has been and gone on the ASX in the ‘Age of Corona’, and stocks are…up?

Since Monday March 9, the ASX Small Ords index has posted six losing sessions of five per cent or more, with another fall of three per cent along with four days in the green.

And following yesterday’s epic 8.7 per cent slump, battered small caps are on track to recover some gains as the index climbed four per cent into midday trade to 1,897.60.

At the big end of town, the ASX200 is 3.3 per cent higher at 4,697.20 (it closed on February 21 at 7,139).

It follows another huge round of stimulus measures, as policy makers pull out all the stops to try and save the world from armageddon.

Overnight, the US Federal Reserve pledged to maintain an “unlimited” quantitive easing program — on deck to keep buying bonds for as long as it takes to shepherd to US economy through a virtual shutdown.

Gold prices ripped higher, but it wasn’t enough for the S&P500, which fell by 2.9 per cent (almost a win these days) as US lawmakers remained stuck in a deadlock about how to initiate huge fiscal stimulus measures.

But US stocks futures are currently trading around three per cent higher, amid reports the two sides of Congress are working through the night as they close in on a deal.

WINNERS

Here are the best performing ASX small cap stocks at 12pm Tuesday March 24:

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Code Name Price % Chg Market Cap Volume
SMN Structural Monitoring Systems 0.58 146.81% $65.8M 731.34K
ATH Alterity Therapeutics 0.018 50.00% $16.1M 417.61K
CXU Cauldron Energy Ltd 0.015 50.00% $5.1M 20.00K
AHX Apiam Animal Health Ltd 0.605 40.70% $69.3M 20.00K
HMD HeraMED 0.08 35.59% $8.3M 187.33K
IGL Ive Group Ltd 0.36 33.33% $54.8M 597.29K
FHS Freehill Mining 0.021 31.25% $32.0M 1.08M
CCP Credit Corp Group 8.21 31.36% $463.0M 663.75K
PPK PPK Group Ltd 2.32 28.18% $196.4M 127.67K
WHK WhiteHawk 0.032 28.00% $5.1M 700.00K
FAR FAR 0.01 25.00% $99.8M 9.44M
LNU Linius Technologies 0.01 25.00% $11.8M 140.62K
SCI Silver City Minerals Ltd 0.005 25.00% $1.8M 250.00K
CGL Citadel Group Ltd 1.54 27.16% $86.8M 206.35K
OBM Ora Banda Mining 0.12 23.71% $70.4M 213.97K
KTG K-Tig Ltd 0.059 22.92% $8.5M 105.78K
MMM Marley Spoon 0.775 22.05% $108.4M 2.24M
BRB Breaker Resources NL 0.12 22.45% $27.8M 849.00K

 

Structural Monitoring Systems (ASX:SMN)

It’s been a big morning for the engineering tech company, which deploys its CVM product to provide a real-time monitoring solution for crack initiation and/or propagation on aircraft structures.

SMN said it has now received long-awaited Stage II approval from US Federal Aviation Authority, which clears a “major milestone to global commercialisation of CVM”.

The company said full commercialisation is expected to by crystallised in Q4, and board and senior management have committed to a “major compensation restructuring for the remainder of the year, to ensure optimal ongoing liquidity management and cash preservation”.

Shares in the company ripped higher by almost 150 per cent, to 58 cents.

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Tuesday March 24:

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Code Name Price % Chg Market Cap Volume
GNC Graincorp 3.26 -52.89% $746.1M 909.03K
SCT Scout Security 0.03 -34.78% $3.6M 140.00K
JXT Jaxsta 0.02 -28.57% $4.9M 499.10K
BAR Barra Resources Ltd 0.011 -26.67% $6.6M 100.00K
MKG Mako Gold 0.03 -25.00% $3.0M 193.70K
OLI Olivers Real Food 0.052 -23.53% $12.2M 92.31K
MME Moneyme 0.5 -21.88% $84.7M 26.86K
AJJ Asian American Medical Group 0.031 -20.51% $10.8M 22.34K
UNV Universal Coal PLC 0.1 -20.00% $50.4M 176.40K
IRD Iron Road 0.04 -20.00% $27.8M 20.00K
RAN Range International 0.008 -20.00% $2.9M 408.50K
LPE Locality Planning Energy 0.2 -20.00% $12.6M 3.72K
SSG Shaver Shop 0.225 -25.00% $37.9M 159.95K
VGL Vista 1.2 -19.46% $248.0M 2.24K
CST Castile Resources 0.06 -18.42% $15.2M 49.65K
BTI Bailador Technology Inv 0.49 -18.33% $72.2M 507.00K
YRL Yandal Resources 0.12 -17.24% $9.7M 10.00K
CMD Gulf Industrials 0.005 -16.67% $1.4M 60.00K
VRC Volt Resources 0.005 -16.67% $8.7M 48.50K
PPE People Infrastructure 1.16 -16.30% $88.1M 56.59K
TER Terracom 0.155 -16.22% $96.5M 82.36K
CHN Chalice Gold Mines 0.32 -15.79% $85.0M 4.36M