Top 10 at 10: Which lithium play is shooting up today after entering a Nevada deal?

Stockhead’s Top 10 at 10 highlights the best (and worst) performing ASX stocks in morning trade using live data.

It’s a short, sharp update to help frame the trading day by showing the biggest movers in percentage terms.

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

The ASX opened lower on Wednesday, tracking the selloff in New York.  At 10.30am AEDT, the ASX 200 (ASX:XJO) was down by 0.64%.

Overnight, tech stocks slumped on Wall Street amid fresh concerns of an economic downturn, with the Nasdaq and S&P 500 falling by around 2%.

Investors were jittery after warnings from bank chiefs of a potential US recession in 2023.

Yesterday, at its last meeting for 2022 the RBA raised the cash rate by 25bps to 3.1%.  It was the bank’s eighth straight rate rise since it started lifting the cash rate from a record low of 0.1% in early May and is now at its highest level in a decade as the RBA has worked to contain inflation.

WINNERS

Stocks highlighted in yellow have made market-moving announcements (click headings to sort).

Red Mountain Mining (ASX:RMX) has announced it has entered into a purchase agreement with Lithic Lithium LLC (LLL), a US subsidiary of Chariot Corporation Limited to acquire the Lithic Lithium Project and the Mustang Lithium Project.

The projects consist of 153 claims covering 1,178ha prospective for claystone hosted lithium in Nevada, the dominant claystone hosted lithium region in the US.

Semiconductor development company 4DS Memory (ASX:4DS) has announced it has finalised the terms of the 2023 collaboration extension with imec, which will now run to mid-2023.

4DS and imec have agreed to additional collaboration activities to be undertaken during the rest of 2022 and first half of 2023.

LOSERS

Stocks highlighted in yellow have made market-moving announcements (click headings to sort).

Way2VAT (ASX:W2V) has announced it has secured commitments from new and existing institutional and sophisticated investors to raise up to $1.1 million (before costs) following support in the private placement at an issue price of 2.6 cents/share

Proceeds from the placement will be used to scale the marketing capability of W2V’s expanding product suite and patented technology platform and continue the rollout of the Smart Spend Debit Mastercard in targeted sectors.