10 ASX small caps that doubled (and tripled!) in a single day in 2019
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In 2019, 10 stocks have gained more than 200 per cent in a single day. Stockhead recaps these stocks, why they gained and where they are now.
A fellow micro-cap gave AssetOwl a massive leg up back in April. The Agency Group (ASX: AU1) agreed to trial AssetOwl’s property management platform — inspector360. The name includes 360 because it incorporates 360-degree imagery as well as hot spot mapping and videoing to document property conditions. But only a week later the company announced a capital raise and lost almost all of that ground.
After being as high as $1.19 back in 2004 its been a slow and spectacular decline for this former gold miner. But last month it rose 233 per cent despite having no news. The company’s explanation to the ASX? Investors were only realising the significance of an announcement from last month showing solid metallurgical test-work at a base metals and vanadium project it was prospecting.
As its name suggests, this company is into neuro-technology. Like Mount Burgess it rose off the back of no news, but it had a simpler explanation: board renewal.
A 40 per cent copper hit. Howzat? Shareholders woke the Thursday before last to the news Stavely had found exactly that at its Victorian project. The find left even the company’s own chairman stunned noting many explorers do not see this in their entire careers. As if that was not good enough, underneath the hit was a 4.4m-long nickel (3.98 per cent and cobalt (0.23 per cent) intersection, 96.7 metres from the surface.
What an ASX debut from this company that specialises in 3D body implant printing. The IPO was conducted at 20 cents and the stock rose to 63 cents the second the market opened. While its growth has been slower since then, it now sits at $1.04 in only its third week on the bourse. However, the top performing IPO in 2019 remains Uniti Group (ASX: UWL).
With the battery metals market struggling and uranium running hot with major US investment, shareholders of this company (then known as Hylea Metals) loved this move. It acquired a majority stake in a major uranium project in Malawi from Paladin Energy (ASX: PDN). And it’s not like they were buying a dead duck — this mine had produced 10.9 million tonnes of uranium in its operating life.
Change Financial (ASX: CCA) had been one of the few fin-techs struggling in 2019 due a digital banking app that couldn’t be monetised. It then pushed for a new platform to process Mastercard payments. Last month shareholders heard the news they’d been waiting for. They had completed the platform and were ready to commence operations on it.
This was another stock that rose off the back of no news. But the sandstone quarrying firm has not retreated from its all time highs, having not been traded since. Following the rise, it has announced it is trying to sell off its quarries and it is confident a deal will be reached. The company’s sandstone is sold to the Chinese building and construction industry.
When it comes to biotechs, there’s nothing like news your drug actually works. And Orthocell’s nerve regeneration therapy was working — patients reported an 83 per cent improvement in muscle power. Hours later, Stockhead’s Daniel Paproth spoke with CEO Paul Anderson who said the sky was the limit. The stock has held its ground over the winter but is currently in a trading halt pending an announcement about its trial.
Only a day before the Orthocell news, Actinogen crashed 70 per cent after an anti-Alzheimer’s drug failed its trial. But it pushed on with the drug at higher doses and this time it worked. The stock has essentially regained all ground lost after the failed trial. But the company has expressed hope that it can be a watershed moment for Alzheimer’s treatments considering so many previous treatments had failed.