Stockhead’s Top 10 at 10 highlights the best (and worst) performing ASX small caps in morning trade.

The market opens at 10am (eastern time) and the data is taken as at 10:15am, once every stock has commenced trading.

Stocks highlighted in yellow have made potentially market-moving announcements.

Here are the 10 leaders to start the day:

ASX pot stock Creso Pharmaceuticals (ASX:CPH) is being acquired by a new Canadian shareholder for $122m.

Pharmacielo, a $C723m TSX-listed medical cannabis company, is buying the Europe-focused human and animal medical cannabis business for 63c a share.

The deal – a 86 per cent premium on yesterday’s closing price — marks the first takeover among Australia’s listed medical cannabis companies.

Connected IO (ASX: CIO) is up 50 per cent (again) in morning trade.

It was among yesterday’s early movers as well, bolting out of the gate to briefly double after the opening bell; but by the time markets closed it had given up those gains.

Code Name Price ($) % Chg Volume
CIO Connected IO 0.003 +50.00% 1.0M
MMR MEC Resources 0.006 +50.00% 41.6k
CPH Creso Pharma 0.56 +34.94% 2.0M
TSC Twenty Seven Co 0.0025 +25.00% 1.5M
ARU Arafura Resources 0.1 +23.46% 6.0M
TPD Talon Petroleum 0.003 +20.00% 2.5M
UTR Ultracharge 0.003 +20.00% 552.0k
SER Strategic Energy Resources 0.007 +16.67% 19.1k
WWI West Wits Mining 0.007 +16.67% 1.0M
AFL AF Legal Group 0.21 +16.67% 95.3k

These 10 companies were dropping back at the opening bell:

Code Name Price ($) % Chg Volume
BLT Benitec Biopharma 0.08 -35.83% 1.6M
GLV Global Vanadium 0.0015 -25.00% 38.0k
MRQ MRG Metals 0.005 -16.67% 775.5k
ANL Amani Gold 0.0025 -16.67% 4.7M
DME Dome Gold Mines 0.17 -15.00% 10.0k
CGS Cogstate 0.21 -12.50% 1.0k
TV2 TV2U International 0.01 -11.11% 500.0k
KEY Key Petroleum 0.004 -11.11% 300.0k
EVE EVE Investments 0.004 -11.11% 41.8M
WGO Warrego Energy 0.1 -9.09% 424.1k