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Good Afternoon and welcome to HotCopper Highlights for Week 20 of the year, I’m Jon Davidson and looking around the traps, the market remains where it was at the start of April.
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The Iran war’s still going, the Trump and Xi meeting isn’t looking fruitful, oil’s still up while gold’s still down. Luckily, the world of smallcaps can provide some respite. So what stocks are getting the most views on the forum this week?
Biotech darling Racura Oncology back in favor on Friday and leading the top gainers at least at one point as it climbs back to $2.75/sh, an ongoing study into its cardioprotection drugs for cancer treatments has advanced to the next stage and the market was happy to throw money behind a good news story.
Elsewhere, drone tech chip junior Nanoveu green on Friday but not winning unquestioning favor, the company’s to acquire a new robotics firm and that will give it further room to prove its AI prowess, the company says, but profits out the gate were quickly scalped on fairly low volumes.
Elsewhere, cannabis medicine stock Bioxyne intraweek harvesting attention after it inked a $50M supply agreement with a mob in Germany called ARDEX, which will get access to Bioxyne’s Dr Watson brand in Europe’s largest market, if it coughs up $25M in the first twelve months.
And what about the most discussed?
Many eyes on MinRes on Friday as controversial founder Chris Ellison sold off over $120M worth of shares in the company last week; that was only revealed today and shares slumped by -6% as some investors clearly got nervous. At least it’s not as bad as what Oleg Vornik’s share sale did to Droneshield.
Speaking of Droneshield, more discussion there – of course – as this week the embattled company revealed it’s now the subject of an ASIC inquiry relating to around the same time that share sale was made, with the regulator eyeing certain announcements spruiking deals in Latin America.
Finally, the Coles share price was down down this week after it lost a court case with the ACCC over fraudulent discounts, while we don’t know what the penalty will be yet, a lot of investors clearly decided to reallocate capital elsewhere.
That’s HotCopper Highlights for this week, I’m Jon Davidson, have a great weekend, we’ll see you on Monday.
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