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It’s all earnings, earnings, earnings in Week 8, though HotCopper forum users have been more interested in smaller stories − like a pharma company landing $45 million in cap raise commitments, and tungsten and lithium news.
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With more than seven million users on the HotCopper forums, every discussion and speculation can move markets – which is why getting in front of those trends is so important for any trader worth their salt.
In this daily HotCopper Trends column, we break down the top three Aussie stocks each trading day, and why they’ve drawn a daily focus intraday.
Botanix Pharma (ASX:BOT) has been the main character on the HotCopper forums through Tuesday, February 17, after it confirmed receipt on $45 million following a whole handful of capital raising commitments today.
BOT tanked some -37% in what users were calling “Bloodbath #2”; the cap raise was at 45.5% discount on today’s price, hence the drop. (HotCopper users and ASX loyalists often don’t like raises at the best of times, either.)
Elsewhere, Resolution Minerals (ASX:RML) has rocketed on the forums − but dipped -6% intraday − after spotting “gold and significant tungsten” during drilling.
I won’t go over the whole affair because I had a longer write-up on the explorer’s most recent hits today (and you can read that right here), but the explorer said it was “immensely pleased.” That said, the quote it included − that results are “difficult to comprehend” − may be why there’s been a value dip.
To mid-arvo Tuesday, RML shares have been 4.3c/ea.
And finally, Cosmos Exploration (ASX:C1X) and its mighty +35% pop today has drawn plenty of HotCopper forum users’ attention.
Most responders seemed very excited that the microcap had, through EAU Lithium, executed a negotiation agreement with Bolivia’s state-owned lithium company, Yacimientos de Litio Bolivianos (YLB), in early February.
The +35% gain carried C1X to 11.5cps, and a +59.7% YTD return.
Then, looking wider, the ASX 200 has been up +0.3%.
That’s Tuesday’s HotCopper Market Trends, I’m Isaac McIntyre – see you for close.
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