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Greetings and welcome to HotCopper Highlights for Week 6 of the year, I’m Jon Davidson, for the uninitiated in this segment we cover the top companies and ASX announcements you were watching and discussing on Australia’s #1 finance website this week. Let’s get into it starting with the most viewed.
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Electro Optic Systems easily took the crown this week. First, there were rumours that the company might be de-listing from the ASX to set up shop in Europe. The company denied this, and that followed a quarterly report last week that wasn’t exactly warmly received. But then on Friday, short selling outfit Grizzly Research released a report in which it alleges the company was basically lying about the risk profile surrounding an $80M contract with a Korean company; on Friday, EOS shares sunk -16% and the stock issued a pause in order to respond to the report.
Neuren Pharmacuticals meanwhile also attracting interest as the company, developing drugs to treat rare diseases in children, appears to be facing delays at the FDA. The US drug regulator did provide the company with feedback in a bid to expand its existing drug portfolio to new conditions, but said it was ‘disappointed’ that the FDA simply wrote an email – there wasn’t any face to face meetings, suggesting a longer wait for investors.
Finally, forum darling Brainchip rising to the top of the boards again as the ongoing tech and software stock sell-off over on Wall Street has investors digesting what may or may not be in store for Brainchip in a world where equities could hyptothetically be boradly re-rated downwards. You’d need to drag a lot of shareholders kicking and screaming to that point I suspect.
And so what about the most discussed?
Solstice Minerals among the more discussed stocks this week on the quieter end of town when it comes to forum favourites, the obscure stock was up until recently fairly illiquid, but not anymore. Gold hits saw investors flock to the stock and as a result the sudden surge of liquidity had pushed the company’s 1Y returns to more than +500% at one point.
Arafura Rare Earths meanwhile landing back on the table as investors ask when, exactly, the company will meet a positive FID on its Northern Territory rare earths project backed by Gina Rinehart, and a critical minerals summit in Washington this week also got brains firing.
Finally, Investigator Silver among the most discussed stocks this week for probably obvious reasons, hint: it’s in the name, and that’s following the gold and silver price crash on Monday, which was followed by a recovery, which was then followed by a smaller crash, and so on. There’s really no rulebook for what silver’s doing right now, so it’s anybody’s guess what comes next.
That’s HotCopper Highlights for this week, I’m Jon Davidson, have a great weekend and we’ll see you on a hopefully somewhat happier Monday.
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