Andrew was halfway through reading this morning's headlines when, all of a sudden, his subscription expired. Pic via Getty Images.
Top 10 at 11: There’s movement on the market, but not much news to explain why
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Good morning, and welcome to Stockhead’s Top 10 at shortly-before-11-ish, to highlight the best (and sometimes worst) performing ASX stocks in morning trade using live data, to provide 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 – for better or worse – and then I do my best to make sense of who’s moving where and why it might be happening.
There’s movement around the place, but nothing really earth shattering – and a lot of it’s happening in the absence of current news.
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| ADS | Adslot Ltd. | 0.003 | 50% | 189,995 | $6,448,991 |
| CT1 | Constellation Tech | 0.003 | 50% | 50,000 | $2,942,401 |
| WC1 | Westcobarmetals | 0.075 | 39% | 1,327,631 | $6,257,538 |
| ICR | Intelicare Holdings | 0.036 | 38% | 461,577 | $5,431,801 |
| GGE | Grand Gulf Energy | 0.011 | 38% | 12,695,185 | $16,761,976 |
| AVW | Avira Resources Ltd | 0.002 | 33% | 200,000 | $3,200,685 |
| ILA | Island Pharma | 0.085 | 29% | 63,061 | $5,363,719 |
| CXU | Cauldron Energy Ltd | 0.019 | 27% | 5,618,930 | $16,982,452 |
| EDE | Eden Inv Ltd | 0.0025 | 25% | 2,500,592 | $7,334,027 |
| IVX | Invion Ltd | 0.005 | 25% | 1,880,700 | $25,686,529 |
InteliCare (ASX:ICR) is up this morning on news that it’s signed a contract with Hardi aged care, worth around $1.8 million in hardware setup plus approximately $500,000pa in SaaS fees for an initial 3 years.
Grand Gulf Energy (ASX:GGE) is rising this morning after the Jesse-1A well unexpectedly flowed significant helium to surface during initial re-entry operations, which is – apparently – a Good Thing.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| 3 | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| JAVDF | Javelin Minerals Ltd | 0.002 | -33% | 1 | $2,836,246 |
| AOA | Ausmon Resorces | 0.003 | -25% | 250,000 | $4,027,997 |
| RNO | Rhinomed Ltd | 0.031 | -23% | 346,923 | $11,428,788 |
| LBT | LBT Innovations | 0.011 | -21% | 130,000 | $16,182,605 |
| GTE | Great Western Exp. | 0.025 | -19% | 246,367 | $7,833,642 |
| BXN | Bioxyne Ltd | 0.01 | -17% | 2,000,000 | $22,819,745 |
| CNJ | Conico Ltd | 0.005 | -17% | 218,518 | $9,420,570 |
| CTO | Citigold Corp Ltd | 0.005 | -17% | 750,000 | $17,241,955 |
| M2M | Mtmalcolmminesnl | 0.027 | -16% | 152,308 | $3,274,992 |
| RVS | Revasum | 0.145 | -15% | 163,427 | $20,165,313 |
Rhinomed (ASX:RNO) is falling this morning after the company announced its desire to leave the ASX. THe company has plans for a non-underwritten Share Purchase Plan to help shaereholders who want to bail out before delisting, and to allow those who want to stay on as shareholders the chance to top up before it goes off-market in mid-February, 2024.
Javelin Minerals (ASX:JAV) is showing a loss, but I suspect that it’s possibly just a glitch in our reporting software – the company delivered a company re, ort this morning which didn’t contain any terrible news, and the volume of trading is negligible as well, so… chalk that one up to gremlins in the system, I reckon.
