Lunchtime ASX small cap wrap: Who’s (literally) celebrating EOFY today?

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Every year as it gets closer to the end of financial year (EOFY) there is a push by businesses to increase sales.

If this worked then there’d certainly be cause for celebration.

But in the last decade, businesses have began to spruik the idea it should be celebrated like Christmas. Remember this Foxtel advertisement from 2009?

But should EOFYs be celebrated by people like its Christmas?

This Sydney restaurant thinks so. We noticed it offered to host end of financial year functions – probably too late to partake. We also observed the Adelaide Oval’s Bridgeclimb have tips for how to celebrate – however you choose.

If you are participating in some celebration or just partaking in sales, please enjoy. But if you just realised, don’t despair. Its just five months until Black Friday.

Perhaps children will be celebrating, because it’s school holidays. If you don’t have kids you might welcome that public transport will be quieter. But if you do have kids, you’ll have to find something else for them to do.

Are our markets celebrating? Large caps are not, since the ASX 200 is down 0.22 per cent. However the small caps are, the ASX Small Ords is up 0.13 per cent (or 4 points) to 2,849.

Going up

If anyone is celebrating EOFY, its Indoor Skydive Australia (ASX: IDZ) which is up 150 per cent as at 12pm. This came after the company announced it was selling its Perth facility, which will leave an extra $500,000 cash in the bank. This had been something it had been working on for several months, so perhaps it is time to celebrate.

Golden Rim Resources (ASX: GMR) jumped 28 per cent after announcing it had “quadrupled” the size of its gold project. The area increased from 58 sq km to 245 sq km.

Here are the best performing ASX small cap stocks at lunchtime, Friday June 28:

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

Going down

One notable loser today was Candy Club Holdings (ASX: CLB), which fell 16 per cent despite having no news today. The company is now down 60 per cent since its IPO.

Here are the worst performing ASX small cap stocks at lunchtime, Friday June 28:

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

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