Lunchtime ASX small cap wrap: Who’s performing despite a cringeworthy name today?

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Remember the outrage about a Sydney Ferry being called Ferry McFerry Face? It was a cringeworthy name, not the least because the joke had already been done many times around the world.

The original gag belonged to an owl named Hooty McOwlface back in 2012, but ramped up in 2016 when UK japesters tried to name a public research vessel Boaty McBoatface.

It got 124,000 votes while “Sir David Attenborough” only got 11,000. Of course, the stuffy Poms went for the Sir David option – but the name “Boaty McBoatface” went to a yellow submarine onboard the ship. And Boaty has been doing its job.

2016: lol, they named it Boaty McBoatface

2019: Boaty McBoatface has determined that increasing winds have cooled surface ocean temperatures, causing them to subduct and cause turbulence, which is amplifying the rise of sea level, threatening billions. https://t.co/TZBJAJLurn

— 𒇷 𒁯𒅗 🇺🇦 (@Lee__Drake) June 18, 2019

Boaty undertook its first expedition into Antarctica earlier this year and its findings were published in an academic journal earlier this week. It found that Antarctic winds are causing turbulence in the sea and the mixture of warm water with cold water is causing the water temperature to rise.

Bottom line? Perhaps it doesn’t matter what a ship is called, so long as it does its job.

Our markets are up again today. The ASX Small Ords has risen by 0.66 per cent (19 points) to 2892. Despite people hoping for a rate cut from the Federal Reserve being disappointed, they are hopeful it might come the next time they’ll meet.

US Fed chair Jerome Powell said he was “prepared to move” on interest rates and also he fully intended to serve his full term despite talk that President Trump is investigating demoting or firing him.

Going up

People hate bacteria, but particularly ‘super bugs’, which is a word for bacteria resistant to most anti-bacteria drugs. But Botanix Pharma (ASX: BOT) announced its skin cream – key ingredient marijuana – looks
strong enough to fight them. Botanix is up 18 per cent today.

Tempo Australia (ASX: TPP) has risen 40 per cent after announcing a $5.8 million dollar contract with CBH Group to build and install weightbridges at eight sites.

Here are the best performing ASX small cap stocks at lunchtime, Thursday June 20:

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

Going down

Phosphate miner Avenira (ASX: AEV) fell off the back of no news but then announced a trading halt to last until Monday. Its last news was last week when it announced it was discussing short-term funding but could provide no guarantee it would be successful.

One large cap was a big faller today. Caltex (ASX: CTX) fell 18 per cent after announcing a profit downgrade – 50 per cent less than the corresponding period last year.

Here are the worst performing ASX small cap stocks at lunchtime, Thursday June 20:

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

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