Weekly ASX small cap wrap: Who flew above the pack this week?
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ASX small-cap winners February 25 — March 1
Software company 9Spokes (ASX:9SP) led the way this week, with a Microsoft-inspired surge after it signed a deal with the global computing giant.
Coming off a low base of 1.2 cents, shares in 9SP more than doubled on Friday, hitting a high of 4.1 cents before closing at 2.9 — a gain of around 300 per cent.
The company announced it has been approved as a ‘One Commercial’ partner by Microsoft, which will also co-sell and co-market 9SP products to clients.
9SP’s software allows small businesses to aggregate multiple functions including payroll and accounting onto one platform.
Junior explorer Titan Minerals (ASX:TTM), posted a gain of 50 per cent to 3 cents a share after striking a potential deal to merge with Canadian miner Core Gold.
A key figure in the negotiations was Titan chairman Matt Carr, who previously plied his trade as a professional footballer with the Fremantle Dockers in AFL.
Carr told Stockhead the deal will give Titan access to Canada’s Dynasty goldfield, which looks like a “huge” gold system.
And it’s been a busy year at OpenDNA (ASX:OPN), an AI-based consumer marketing business that has added digital marketing and a Chinese e-commerce marketplace to its offering.
Shares in the company doubled to six cents this week after it announced two new deals it hopes will accelerate its expansion into the Chinese market.
Here are the best performing ASX small cap stocks for the week ended 1 March:
ASX small-cap losers February 25 — March 1
Delivery management software company Getswift (ASX: GSW) finished the week 41 per cent lower at 26 cents per share — an all-time low — after corporate regulator ASIC alleged the company misled investors.
Getswift directors came out on the front foot and said they would “vigorously defend” the charges.
Elsewhere, dental company Smiles Inclusive (ASX: SIL) slumped by more than 5o per cent after releasing its half-year results on Thursday.
The company reported a net loss of $1.6 million and announced that CEO Mike Timoney had stepped down. It then went into a trading halt on Friday morning pending a further announcement.
Here are the worst performing ASX small cap stocks for the week ended 1 March: