Lunchtime ASX small cap wrap: Who’s ready for Judgment Day?
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Who’s winning and losing this Tuesday? It’s been an eventful morning.
But first, Chinese scientists have created a breakthrough liquid metal “that can be stretched and pulled in all directions without breaking apart”.
Remind you of anything?
So, happy Tuesday to everyone, because it’s not Judgement Day for the ASX Small Ords just yet.
US markets stabilised yesterday following Friday’s big selloff, led by fears of a global slowdown as well as weak manufacturing and services data.
Similarly, the ASX Small Ords had fallen just 0.07 per cent to 2707 points by about 12pm EST, after its own big plunge yesterday.
Here’s the state of play at lunch Tuesday March 26:
Coal explorer Resource Generation (ASX:RES) caught a rocket this morning for no apparent reason at all – up 53 per cent to 13c per share.
Seriously though, look at this:
Resource Generation is developing the Boikarabelo coal mine in South Africa but is running very low on cash.
Last week it reached a confidential agreement with Noble Group for working capital requirements to keep the light on through to the end of June.
Skin Elements (ASX:SKN) shares jumped nearly 40 per cent to 6c in early trade after announcing a big Chinese distribution deal.
HHHM will order $20m over the next three years starting June 30.
Other notable winners were Arc Exploration (ASX:ARX), which acquired an advanced copper project yesterday, and Ava Risk (ASX:AVA), which is now expecting FY19 revenue growth of over 100 per cent on FY18.
Here are the best performing ASX small cap stocks at 12pm on Tuesday, March 26:
Air traffic management company Adacel (ASX:ADA) had a rough landing today when both the chief executive and non exec chairman bailed out.
The stock was down 19 per cent on the news.
Adacel took a huge hit in November last year when the company told investors that profits in FY19 would be 25 to 35 per cent lower than the previous year – and it never really recovered.
Here are the worst performing ASX small cap stocks at 12pm on Tuesday, March 26: