With more than 600k average monthly users on the HotCopper forums, each and every discussion can move markets. That’s why getting in front of those red-hot trends is key for every trader worth their salt. In this daily HotCopper Trends column, we break down the top Oz stock movers through each trading day.
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Meeka Metals (ASX: MEK) was closely watched on the HotCopper forums after it announced it had received firm commitments for a two-tranche placement of $40 million.
The placement received strong support from existing institutional shareholders and new domestic and international institutional investors.
It provides the company with additional capital to fund growth initiatives including the Mt Holland acquisition deferred consideration, development of the new Turnberry underground mine, additional growth drilling and to strengthen working capital as the Murchison gold project transitions towards two higher-grade underground mines.
The company is now focused on the continued ramp up of higher-grade underground production, including development of the second underground mine at Turnberry commencing in October 2026.
MEK was down 25.9% to 10.0¢.
Healius (ASX: HLS) was up after it entered into a binding agreement to sell its wholly owned subsidiary Agilex Biolabs to a subsidiary of Novotech Health Holdings for an enterprise value of $160 million.
In May, Healius reported it had received several unsolicited approaches from credible parties.
“The sale of Agilex Biolabs delivers attractive value for Healius shareholders. The sale provides customers and team members of Agilex Biolabs with the opportunity to join an established and global business in Novotech, which has expertise in providing services to major biotechnology and pharmaceutical customers.”
“Healius will continue to execute on its strategies to grow and improve its core pathology business, which delivers critical diagnostic services to millions of Australians each year,” MD and CEO, Paul Anderson, said.
HLS was up 4.17% to 37.5¢
Memphasys (ASX: MEM) has announced a reassessment by the board of the company’s US regulatory strategy for the Felix Sperm Separation System has identified a potentially faster, cost-effective and more direct pathway towards FDA clearance.
Memphasys had previously anticipated that Felix would need to progress through the FDA’s De Novo classification pathway because a suitable predicate device had not been identified.
Following this reassessment, and working with specialist regulatory advisers, the company has identified a legally marketed device it believes may provide an appropriate predicate for Felix. This creates the potential for Felix to pursue the FDA’s established pathway, based on demonstrating substantial equivalence, rather than the De Novo pathway previously contemplated.
“The board’s reassessment of our US regulatory strategy has identified a potentially faster and more direct pathway for Felix into a US$5.9 billion IVF market representing around 20% of the global market” executive chairman David Tasker said.
MEM was steady at 0.5C
Looking wider, the S&P/ASX 200 was lower today, dropping 48.50 points or 0.56% to 8,653.50 and setting a new 50-day low.
The bottom-performing stocks in this index are Elsight and Netwealth Group, down 5.91% and 5.83% respectively.
The index has lost 0.89% for the last five days, but is virtually unchanged year to date.
That’s Friday’s HotCopper Market Trends, I’m Colin Sandell-Hay - see you for close.
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