Good Afternoon and welcome to HotCopper Highlights for Week 21 of the year, I’m Jon Davidson and after a mixed but better week for the ASX, get straight into it, discussing the most viewed company announcements and most discussed stocks on the forums of Australia’s #1 finance website this week.
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Starting with the most viewed, among the top of the leaderboard we’ve got former lithium darling Core Lithium now working back towards that favoured status after it recommenced mining operations at its Finnis project this week. That comes on the back of an uptick in lithium prices in recent months, and MinRes also resumed mining at its Bald Hill project this week. Can the stocks return to their former glory? That question is what’s got investors interested.
Elsewhere we had two fresh faces join the ASX this week. The first was Ktek Aerosystems, an Israeli-backed drone tech company, which after the success of Droneshield and Electro Optic in recent history, investor interest in the debut is obvious. The stock rocketed above its listing price midweek and as of Friday retains a 1 week gain of 100%, with investors no doubt eagerly awaiting the company’s first real newsflow disclosure.
But Ktek was joined this week by another new face in a completely different basket – that’s the ASX debut of SkinKandy, a company that owns skin piercing stores throughout Australia predominately on its east coast; like Guzman Gomez and Koala, that stock’s also hitting the bourse with plans for international expansion. Perhaps an odd one, but as of Friday, that stock’s locked in 12% gains since listing.
And so what about the most discussed?
Hot as anything biotech darling 4D Medical generating a lot of chatter this week though for the wrong reasons, 4D has been a HotCopper favourite for months now stretching back into the second half of last year, but in recent weeks, its share price has faltered as short sellers increase pressure on the stock. It’s got a market cap of $2B and not much in the way of meaningful revenue which explains short seller interest, and investors have been mixed on where it goes next.
Meanwhile, it was a week of mixed news for investors in Gina Rinehart-backed Arafura Rare Earths which this week announced it has met a positive FID on its NT-based Nolans rare earth project, which at nameplate capacity will be Australia’s next big rare earths mine, but that good news was followed on Friday by an announcement of yet another capital raise. Investor sentiment on that came down to how full one sees a glass of water.
Finally, another biotech darling in the hot seat, Lumos Diagnostics this week on the radar as like 4D Medical its share price has shown a fall from grace, YTD returns for the diagnostic tech company are down -56% at 12.5cps. That’s still a twelve month return of nearly +400%, but many investors are starting to get nervous.
That’s HotCopper Highlights for Week 21 of the year, I’m Jon Davidson, have a great weekend and we’ll see you on Monday.
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