Lunchtime ASX small cap wrap: Who’s not being entirely honest today?
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Whether he’s trying to secure funding for his electric car company or launching convertibles into space or pretending to be built like The Rock, Elon Musk has a lot going on.
Conversely, it’s been a relatively quiet one on the local small cap stock index this morning. The ASX Small Ords rose 0.20 points at 2,791.20 at 12pm AEST — an increase of 0.01%.
Here are the big movers among small cap stocks for today, February 26.
Red Emperor Resources (ASX: RMP) led the pack today, posting a gain of almost 70 per cent to 10 cents a share after updating the market on its Alaskan drilling operations.
The oil & gas play said it had reached total depth of 6,800 feet (2,072 metres), with “multiple potential pay zones identified, including in the primary target zone”.
Red Emperor will now carry out a wireline logging program to verify the zones of interest, which is expected to take around 10 days.
Junior oil miner IPB Petroleum (ASX:IPB) also ripped higher, gaining by almost 50 per cent to five cents a share.
The company is down from its 12-month high of 10.5 cents, after surging last August when its offshore exploration permits became neighbours to those snapped up by Santos following its acquisition of Quadrant.
Here are the best performing ASX small cap stocks at 11.45am Thursday March 7:
There were no standout disasters today, with most of the large falls taking place among various mining minnow penny-stocks.
Although tech hardware company Cycliq Group (ASX:CYQ) — which manufactures dash-cams for bikes — took the hardest tumble, falling by 33 per cent to 0.2 cents per share.
Here are the worst performing ASX small cap stocks at 11.45am Thursday March 7:
If you're having a bad day, at least you've never called Tim Cook "Tim Apple."pic.twitter.com/ctplpXupIC
— Complex (@Complex) March 6, 2019