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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 stocks through each trading day.
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Argent BioPharma (ASX:RGT) was a high flyer after it entered a binding transaction framework for the exclusive global licensing of CannEpil, the company’s neurological asset developed for the management of drug-resistant epilepsy.
CannEpil is a pharmaceutical-grade cannabinoid combination therapy, and chairman Roby Zomer said the transaction represents a significant commercial and corporate milestone for Argent BioPharma, providing upfront consideration of US$5.5 million for the global licensing rights to CannEpil.
“The CannEpil licensing transaction represents one of the most significant milestones achieved by Argent BioPharma to date,” he said.
RGT has been up +193%, to 10.3¢ at the time of going to press.
Also popular on the HotCopper forums: Netwealth (ASX:NWL), after it entered an agreement to expand its existing relationship with Morgan Stanley by providing a platform solution for ASX-listed and domestic investments.
Netwealth’s MD and CEO, Matt Heine, has today said the move is designed to support a wide range of stock broking and wealth management operating models. The new capability reflects Netwealth’s strategic focus on platform functionality across a broader spectrum of advice models and businesses.
NWL was up +6.12%, to $24.29 intraday.
Finally, Hammer Metals (ASX:HMX) climbed after receiving an unsolicited, non-binding and indicative takeover proposal from Austral Resources Australia (ASX:AR1).
Austral has offered to acquire 100% of the issued capital of Hammer by way of a scheme of arrangement. Concurrently, Hammer’s Western Australian gold assets held in Carnegie Exploration are proposed to be demerged via a capital reduction and in-specie share distribution to Hammer shareholders.
The Hammer board, after consultation with its advisers and after written legal advice, said it has carefully considered the Austral proposal and determined in good faith that it is a bona fide competing proposal defined in an implementation deed entered into between Hammer and Larvotto in early June CY26.
“As at the date of this announcement, the Hammer board remains committed to, and unanimously recommends, that Hammer shareholders vote in favour of the Larvotto scheme, in the absence of a superior proposal.”
HMX up +24.8% after the deal was made public, to 6.8¢.
Looking wider, the S&P/ASX 200 was up just 1.8 points, to 8,832.
That’s Tuesday’s HotCopper Trends, I’m Colin Sandell-Hay – see you for close.
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