Winners Column: Here are the top 50 ASX small cap stocks for November
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November was a record-breaking month for global markets.
The US election was held. Trump lost. Then, over a magical two week period, a number of vaccines were shown to work effectively against COVID-19.
There were winners everywhere.
Gold – a hedge against economic volatility — slumped to five-month lows as the ASX energy sector bounced back with a 24 per cent gain.
In November, the US Dow Jones index rose by 11.8 per cent (its best gain since January 1987), the S&P 500 index gained 10.8 per cent and the Nasdaq index rose by 11.8 per cent.
In Europe, the German Dax index rose by 15 per cent and the UK FTSE lifted 12.4 per cent.
In Asia, Japan’s Nikkei index soared by 17.2 per cent, while Australia’s ASX 200 index gained 10 per cent — its best performance since March 1988. Whew.
HERE’S THE TOP 50 SMALL CAPS FOR THE MONTH OF NOVEMBER >>>
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Hey small caps — want easy gains? Just change your name and pick up a new project.
It worked for former coal play and #1 mover Lustrum, which reskinned and relisted as copper explorer Noronex (ASX:NRX).
It was a savvy move, and great timing. The stock rode positive investor sentiment – sparked by a surging copper price — to a 222 per cent gain.
#2 spot also goes to a rejuvenated small cap called Metalsearch, which changed its name to Zeotech (ASX:ZEO) to target the $2.6 billion global zeolite market.
No one knows what a zeolite is but it doesn’t matter. The stock was up 213 per cent for the month.
Skin Elements (ASX:SKN) was the biggest gainer on no news. In a response to an ASX price query, the company noted that it had recently submitted an application for regulatory approval for its ‘Invisi Shield’ product as a natural disinfectant product.
And poo tester Rhythm Biosciences (ASX:RHY) got the runs after completing a prototype of its ColoSTAT rapid blood test to screen for colorectal cancer — a test the company hopes will replace the current faecal tests.