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With more than seven million users on the HotCopper forums, every discussion and speculation can move Australian markets, which is why getting out in front of those trends is so important for any trader worth their salt.
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In this daily HotCopper Trends column, we break down the top three stocks talked about on any given trade day, and why they’ve drawn a daily focus.
Clarity Pharmaceuticals (ASX:CU6) has been the most discussed stock on the HotCopper forums through Tuesday, with many users seemingly disgruntled after a -9.5% dip for the health care company early this week.
The drop came after Clarity achieved the primary endpoint in its Co-PSMA trial; the stock is down to $4.84 from what looks like Australian traders cashing in.
Elsewhere, Ionic Rare Earths (ASX:IXR) has caught attention for heading the other way: The mineral explorer, much loved on the HotCopper forums, has leapt +23%, 0.5 cents a share higher, after banking $15.6 million to boost “global expansion.” The issue was heavily oversubscribed, the company said.
All very interesting for Ionic, which will now be focusing on a partnership at Argentem Creek in the U.S. and ex-China supply. IXR is at 3.2cps right now.
And finally, Xstate Resources (ASX:XST) has nosedived -30% and boy, HotCopper users are looking at it closely. The selloff came after a vague update on the company’s Diona One well in the Surat-Bowen basin in Queensland.
To around 2pm, XST has been down to 3.5c/sh, but is still up +288 YTD.
Looking wider, the ASX has been near flat at -0.01% today.
That’s Monday’s HotCopper Market Trends, I’m Isaac McIntyre – see you for close.
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