Lunchtime ASX small cap wrap: Who's not touching their face today?

As the coronavirus outbreak rapidly evolves into a global pandemic, huge stock selloffs are almost par for the course at the moment.

And so it was again this morning, as the ASX200 promptly crashed by another 2.82 per cent to 6,260 points.

Daily falls on the Small Ords have typically been a little more extreme since the selloff began, and it was down 3.5 per cent to 2,632 points.

Local markets appeared to get a small boost shortly after midday (AEST), when stocks in Shanghai commenced trading. With volatility spiking, whether the gains will be short-lived is anyone’s guess.

Government bond yields continue to plumb new lows as central banks globally indicate their willingness to try and spur economic activity.

Australia’s RBA is set to make its monthly rates announcement tomorrow. Markets are fully priced for at least one rate cut, with some analysts now speculating the RBA could move to cut rates by 50 basis points.

WINNERS

Here are the best performing ASX small cap stocks at 12pm Monday March 2:

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CODE	NAME	PRICE	% CHANGE	MARKET CAP
RFN	Reffind	0.004	+33.33%	$3.4M
SUD	Suda Pharmaceuticals	0.07	+29.63%	$10.0M
PSZ	PS&C	0.03	+28.57%	$9.5M
NSX	NSX	0.24	+26.32%	$44.8M
CLZ	Classic Minerals	0.0025	+25.00%	$14.4M
CZN	Corazon Mining	0.0025	+25.00%	$6.0M
PPG	Pro-Pac Packaging	0.12	+21.21%	$97.3M
VUL	Vulcan Energy Resources	0.29	+20.83%	$14.1M
HWK	Hawkstone Mining	0.006	+20.00%	$6.1M
QFY	Quantify Technology	0.003	+20.00%	$5.8M
REV	Real Estate Investar Group	0.012	+20.00%	$2.8M
BCC	Beam Communications	0.25	+19.51%	$13.0M
AUC	Ausgold	0.02	+17.65%	$21.0M
IFM	Infomedia	2.15	+16.85%	$684.4M
KTA	Krakatoa Resources	0.04	+16.67%	$7.7M
BEE	Broo	0.014	+16.67%	$9.8M
BLZ	Blaze International	0.014	+16.67%	$2.9M
TOE	Toro Energy	0.007	+16.67%	$17.4M
VOR	Vortiv	0.007	+16.67%	$19.5M
WNB	Wellness and Beauty Solutions	0.0035	+16.67%	$3.6M

VDM Group (ASX:VMG)

Amid the sea of red, there was some interesting price action for mining and construction company VDM Group.

The company released its half-year report on Friday evening after markets had closed. Revenue was down 79.7 per cent to $29,000, resulting in a net loss of $857,000.

However, shares in the company ticked higher to 0.4c — good enough for a morning gain of 300 per cent.

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Monday March 2:

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

CODE	NAME	PRICE	% CHANGE	MARKET CAP
TGA	Thorn Group Ltd	0.12	-32.35%	$35.5M
ADO	Anteotech Ltd	0.02	-32.00%	$25.5M
ERL	Empire Resources Ltd	0.007	-30.00%	$5.4M
MJC	Mejority Capital Ltd	0.03	-28.57%	$3.5M
KIN	Kin Mining NL	0.04	-25.86%	$24.6M
CCA	Change Financial Ltd	0.1	-25.00%	$10.8M
BOC	Bougainville Copper Ltd	0.17	-25.00%	$66.2M
FML	Focus Minerals Ltd	0.18	-25.00%	$32.9M
HRR	Heron Resources Ltd	0.05	-24.64%	$22.3M
OKU	Oklo Resources Ltd	0.17	-23.91%	$72.2M
RAN	Range International Ltd	0.01	-23.08%	$4.3M
GED	Golden Deeps Ltd	0.01	-23.08%	$2.8M
MRC	Mineral Commodities Ltd	0.15	-23.08%	$63.2M
EAX	Energy Action Ltd	0.16	-22.50%	$4.0M
NSB	NeuroScientific Biopharmaceuticals	0.105	-22.22%	$8.2M
OVL	Oro Verde Ltd	0.007	-22.22%	$14.1M
GMR	Golden Rim Resources Ltd	0.007	-22.22%	$9.3M
MAG	Magmatic Resources Ltd	0.23	-21.67%	$40.5M
HGO	Hillgrove Resources Ltd	0.04	-21.57%	$23.4M
AQX	Alice Queen Ltd	0.02	-20.83%	$17.7M

Thorn Group (ASX:TGA)

A technical correction that’s rapidly turning into a bear market isn’t a great time to issue a profit downgrade.

The company said its previous guidance for a small downgrade “will now not be met due to rising arrears in its business finance division, prompting higher write-offs and bad debt impairment provisioning than previously expected”.

Thorn Group also announced it had completed its enforceable undertaking with ASIC, which required it to remediate eligible customers “in relation to historic lending practices”.