HotCopper Highlights: Stakk’s out-of-nowhere Robinhood deal; ADNOC dumps Santos after first date & more

Greetings and welcome to HotCopper Highlights, I’m Jon Davidson, in this end of week wrap we look at the stocks you were watching and discussing the most this week, and let’s kick off looking at the most viewed. 

Banking software player Stakk attracted a lot of eyes this week after it inked a deal with US-based Robinhood to provide the latter with software as Robinhood tries to move into banking services. If that name sounds familiar, Robinhood are the company who own a trading app that in the lockdown years became famous for being used by retail traders to squeeze hedge funds out of short positions on stocks like Gamestop, a video game retailer. 

Elsewhere, eyes on Santos this week like flies on a summer picnic roast as the company’s big proposed merger with Middle Eastern oil goliath ADNOC fell through, leaving many asking what’s next for the Australian energy giant. Just don’t bring up the fact it probably wouldn’t have ever passed the foreign review board. 

Finally, uranium processing player SILEX Systems back on the radar this week as the company successfully enriched uranium in the US, in the background, Washington is boosting purchases for its strategic reserves, leading to a supportive environment for the stock now eyeing a 1Y breakeven. 

And what about the most discussed stocks? 

Advance Metals made the boards on Friday after it saw a string of investor relations firms pump the stock early morning, the company is predominately focused on a silver project in Mexico. Shares shot up on Friday morning, straight into a pause in trading. Anybody who bought in will now be hoping it’s not a capital raise.

EchoIQ meanwhile tanked early morning on Friday, immediately halted trade, and then issued an announcement telling the market that despite some media reports and online rumours, the company hasn’t heard anything about not receiving a key approval in the US which could hamper its entire value prop. But a stock price drop before that news dropped leaves one with more questions than answers.

Finally, PYC Therapeutics generating discussion this week after its top dog walked out the door out of the blue, leaving it looking for a permanent MD. And then on Friday, the company issued a trading halt that said the company was about to kick off a capital raise – right before issuing a second statement confirming the first was wrong, there’s no raise, sorry but we published a draft. It’s Friday after all. 

That’s HotCopper Highlights, I’m Jon Davidson, have a great weekend and see you on Monday.