Lunchtime small cap wrap: who’s racing ahead and who’s falling behind
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Here are the key ASX small cap gainers and losers at 12pm AEST Wednesday.
The ASX Small Ords was up 16 points at 2817 by lunch.
In the green
Pharmacy-focused health tech Corum Group (ASX:COO) was trading up 24 per cent to 3.1c with no news in the market.
The rise follows last night’s federal budget — which promised to help 80 per cent of community pharmacies connect to the digital health record system by the end of the next financial year.
Corum’s lead product in development is Corum Clear — a suite of software programs to help manage pharmacies and digital scripts.
Organic juice maker Food Revolution Group (ASX:FOD) was trading up 23 per cent at 5.8c by midday — with no news in the market.
Last week, Rood Rev added new products to its Juice Lab and Thirsty Brothers grocery ranges, as well as more kombucha flavours (that’s fizzy green tea for the rest of us).
The shares fell sharply on Friday to around 4.7c — but today recovered to previous trading levels.
3D developer Integrated Media Tech (ASX:ITL) has continued its spectacular rise despite a lack of news.
The stock was trading up 21 per cent to $18.51 at midday — more than 400 per cent higher than its price just a week ago.
The dual-listed stock’s NASDAQ shares went nuclear last week with a 2000 per cent gain.
Despite queries from the ASX and NASDAQ the company says it has no news.
Multiple Sclerosis-turned-oncology play Innate Immunotherapeutics (ASX:IIL) was trading up 18 per cent to 38c on no news.
Last month the biotech was approved to acquire Amplia Therapeutics — a Melbourne outfit that has the rights to two potential drug candidates targeting focal adhesion kinase (FAK) inhibitors.
With that came a change in the company’s board which was completed last week.
Battery metal junior Buxton Resources (ASX:BUX) rose 18 per cent to trade at 13c, with no news in the market.
The company has its hopes pinned on its Double Magic Project in West Kimberley and earlier this month said it was discussing project opportunity reviews with several mid-tier to major mining companies.
In the red
Natural skincare maker Skin Elements (ASX:SKN) fell back 21 per cent to trade at 7.5c after spiking just yesterday.
The company reached highs of close to 10c on Tuesday — but fell back in early trade today.
Skin Elements is working to expand its product range and recently appointed a corporate advisor to drive an acquisition strategy.
First results from Lodestar Minerals (ASX:LSR) did little to excite investors on Wednesday — the shares falling 18 per cent to 2.2c at midday.
The explorer’s first drilling results extended its gold discovery at Gidgee Flat — and confirmed significant gold mineralisation extending to the bedrock.
Results from a further six holes are expect by the middle of the month.
Shares in White Energy (ASX:WEC) took a 17 per cent hit to trade at 4.3c at midday after one of its major shareholders sold down.
RAMS Home Loans founder John Kinghorn had been a strong advocate for the company, but has sold down his share by $48,000 (or 775,032 votes).
Lithium explorer Hawkstone Mining (ASX:HWK) fell 15 per cent to trade at 2.8c with no news in the market.
The company acquired US Lithium earlier last quarter, giving it two highly prospective lithium projects in Arizona and in New Mexico.
Lefroy Exploration (ASX:LEX) was down 11 per cent to 11c with news in the market.