Lunchtime ASX small cap wrap: Who’s looking to come together today?

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Today’s feature image would make you think of buying a Jeep. Not a bad car to have. But did you know Jeeps are made by Fiat Chrysler?

Fiat Chrysler came about through a merger of those former two standalone entities in 2014. Today we’ve heard they’re pondering merging again, with France’s Renault.

On one hand Renault has no presence in the US but has solid grounding in electric vehicles. On the other, Fiat Chrysler’s home is the US, where it lags behind the likes of Tesla and BMW on electric vehicles.

The hope is the two will synergise and address falling sales and intense competition. But while this would be a big move, for the moment it’s all talk.

Back the markets, it is often the case that momentum from positive Monday can be undone if it was a down day on Wall Street overnight. With the Americans having a long weekend for Memorial Day, this was not the case today. The ASX Small Ords Index was up another 16 points, or 0.57 per cent, to 2862 by 11:30am EST.

Here are the key ASX small cap movers at lunchtime on Tuesday May 28:

Going up

The mantle of “biggest winner” was shared between Alloy Resources (ASX: AYR) and Tanga Resources (ASX: TRL) that have both spiked 50 per cent today. While Alloy had no news, Tanga went up after announcing significant copper mineralisation at its Namibia project – up to 5.7 per cent during rock chip sampling.

Venus Metals (ASX: VMC) and Rox Resources (ASX: RXL) announced a joint venture for their West Australian gold project. Venus jumped 13 per cent while Rox jumped 10 per cent.

Biotech Invion (ASX: IVX) is up 43 per cent at lunch time after positive results from its most recent clinical studies.

Here are the best performing ASX small cap stocks at lunchtime, Tuesday May 28:

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

Going down

There were few declining stocks with news. HomeStay Care (ASX: HSC) notably declined over 10 per cent despite holding its AGM yesterday where all its motions were passed unanimously.

Two decliners on this list were large gainers yesterday, Rafaella Resources (ASX: RFR) and Whitebark Energy (ASX: WBE).

Here are the worst performing ASX small cap stocks at lunchtime, Tuesday, May 28:

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

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