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Good Afternoon and welcome to HotCopper Highlights for Week 46, I’m Jon Davidson. In this segment the stocks you were watching and discussing the most this week, for better or worse – let’s get into it starting with the most viewed.
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Droneshield garnered a lot views, and a lot of discussion this week too, for two reasons. Firstly, on Monday, the company erroneously issued news of three new contracts, before retracting that statement and confirming it had accidentally re-announced existing contracts. Then on Thursday, we found out company founder Oleg Vornik sold all of his shares for $50M in the last six days – leaving many to wonder if he triggered the sell right after that Monday announcement. HotCopper makes no imputation of criminality.
Elsewhere, MinRes caught eyes this week when it inked a $1B deal with South Korea’s POSCO for the latter to pick up a 30% stake across two assets part owned by Chris Ellison’s brainchild, in a deal that’s very good for MinRes, but which for POSCO will take a very long time to make return on investment. Especially given POSCO will only make $200M a year from spodumene sales, and that’s if it’s a good year.
And this week, Renerve Limited garnered attention on the forums as the US Department of Defence and Veterans Affairs departments both approved the use of its nerve surgery dissolving bandage in hospitals attached with the departments, leaving ever-watchful biotech investors salivating at the idea of becoming embedded in one of America’s largest government sectors.
And so what about the most discussed?
Commonwealth Bank generating chatter this week as the bank at one point fell nearly -10% across two days after investors didn’t like its warnings of higher operating costs and lower NIMs, though, it’s unlikely the pain will get much worse for Commonwealth.
Elsewhere, Life360 also disappointing investors this week as profits came in lower than expected just south of $10M, the thing there is that the profit was basically half made up of interest income, so if you take away that component of the $9.8M, really, Life360 made around $5M in profits – which is maybe too little for a company dual listed.
Finally, a basket of lithium stocks the most discussed this week led by Liontown Resources, and followed by Pilbara Minerals. That’s because the price of spodumene has gone up in recent weeks back to year-record highs and that’s got a lot of investors keen to recreate the golden lithium years. Much of the upside comes from investment bank analyst notes, let’s just hope they don’t have their agendas.
That’s HotCopper Highlights for Week 46, I’m Jon Davidson, have a great weekend and we’ll see you on Monday. Hopefully we’ll see some green next week.
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