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Lunchtime ASX small cap wrap: Who’s planning for the future?
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Robotaxis are the future, according to a new report.
A UBS simulation found that the existing fleet of New York city taxis could be reduced by two-thirds, and fares for each trip slashed by more than 80 per cent, once vehicles become fully autonomous. This article reckons that Uber’s only hope of survival is to go fully autonomous.
We also have companies developing flying taxis – all up, the future is looking more Jetsons/Fifth Element by the day.
Back to reality, and it was a sea of red in global markets yesterday.
European markets fell as renewed trade concerns weighed on the automobile sector, while in US markets, investors sold down technology, industrial and energy stocks on fears that a deepening US-China trade war could impact global growth.
Local markets have followed suit in morning trade, with the ASX Small Ords Index down 22.7 points, or 0.8 per cent, to 2843 by 11:30am EST.
Here are the key ASX small cap movers at lunchtime on Friday May 24:
GOING UP
Great Western Exploration (ASX:GTE) is kicking off a 1000m drilling program at the Yandal West project, where it is targeting “high-grade, Jundee style gold mineralisation” at the St Ives prospect.
Great Western says there’s similarities with the massive Jundee mine in WA, which is a massive gold system that increased with depth. Investors loved the news, sending the stock up 33 per cent in early trade.
And Antisense Therapeutics (ASX:ANP) shares jumped 34 per cent on news the company had finished enrolling patients into its Phase II clinical trial, testing its immunomodulatory therapy ATL1102 in patients with duchenne muscular dystrophy.
Here are the best performing ASX small cap stocks at lunchtime, Friday May 24:
Swipe or scroll to reveal the full table. Click headings to sort
Ticker Name Price % Chg Market Cap Volume LRS Latin Resources 0.002 100% $7,000,000 1.3M MEB Medibio 0.011 38% $2,700,000 665.0k EHX EHR Resources 0.04 36% $4,800,000 21.4k GTE Great Western Exploration 0.004 33% $3,900,000 100.0k MSE Metalsearch 0.004 33% $1,900,000 2.0M ANP Antisense Therapeutics 0.06 27% $25,200,000 18.2M BNL Big Star Energy 0.005 25% $1,700,000 536.8k IAM Intiger Group 0.005 25% $4,200,000 4.9M MNC Metminco 0.005 25% $3,000,000 350.0k LCK Leigh Creek Energy 0.27 24% $148,000,000 5.0M BEE Broo 0.03 22% $17,300,000 91.9k CM8 Crowd Media 0.04 21% $8,200,000 6.0M PGY Pilot Energy 0.013 18% $1,000,000 231.2k PUA Pure Alumina 0.05 18% $8,400,000 205.5k UUV UUV Aquabotix 0.013 18% $2,300,000 9.5M GMC Gulf Manganese 0.007 17% $29,500,000 17.6M NOR Norwood Systems 0.0035 17% $7,300,000 760.0k GWR GWR Group 0.11 16% $26,600,000 335.3k IP1 Integrated Payment Technologies 0.015 15% $4,600,000 370.0k RAN Range International 0.02 15% $4,600,000 47.0k ANO Advance NanoTek 6.7 15% $404,000,000 86.2k
GOING DOWN
Topping the losers column (on no news) was graphite explorer Metals Australia (ASX:MLS), gold play Torian Resources (ASX:TNR), and New World Cobalt (ASX:NWC), which recently acquired a gold-copper project in New Mexico.
Here are the worst performing ASX small cap stocks at lunchtime, Friday, May 24:
Swipe or scroll to reveal the full table. Click headings to sort
| Ticker | Name | Price | % Chg | Market Cap | Volume |
|---|---|---|---|---|---|
| MLS | Metals Australia | 0.0015 | -25% | $4,000,000 | 3.2M |
| TNR | Torian Resources | 0.011 | -21% | $2,800,000 | 53.1k |
| NWC | New World Cobalt | 0.011 | -21% | $6,300,000 | 300.0k |
| VAL | Valor Resources | 0.004 | -20% | $7,600,000 | 85.0k |
| RNX | Renegade Exploration | 0.002 | -20% | $1,400,000 | 875.0k |
| REV | Real Estate Investar Group | 0.008 | -20% | $1,900,000 | 825.5k |
| NSE | New Standard Energy | 0.004 | -20% | $3,300,000 | 40.0k |
| CAV | Carnavale Resources | 0.004 | -20% | $2,700,000 | 400.0k |
| XPD | XPD Soccer Gear Group | 0.013 | -19% | $5,700,000 | 118.6k |
| UTR | Ultracharge | 0.0025 | -17% | $2,700,000 | 130.0k |
| SI6 | Six Sigma Metals | 0.005 | -17% | $2,300,000 | 566.7k |
| MTH | Mithril Resources | 0.005 | -17% | $2,100,000 | 44.3k |
| MDI | Middle Island Resources | 0.005 | -17% | $5,200,000 | 500.0k |
| ANL | Amani Gold | 0.0025 | -17% | $9,200,000 | 14.0M |
| PKD | Parkd | 0.08 | -16% | $6,000,000 | 7.4k |
| HIP | Hipo Resources | 0.011 | -15% | $4,300,000 | 333.1k |
| 1AD | Adalta | 0.2 | -15% | $23,500,000 | 7.7k |
| MGT | Magnetite Mines | 0.006 | -14% | $4,800,000 | 361.4k |
| LHB | LionHub Group | 0.006 | -14% | $5,000,000 | 300 |
