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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.
Stakk Limited (ASX:SKK) has been the clear winner through Tuesday so far, drawing bucketloads of conversation on the HotCopper forums and popping as much as +56% higher through to mid-arvo today.
The Oz tech company, formerly “Dough” before a namechange, landed a huge deal with Nasdaq-listed telco giant T-Mobile, so it makes sense.
Whether it can keep that momentum going is probably the biggest question, but considering it’s already up as much as +562% this month – helped on by a deal with U.S. trading app Robinhood in August – even a mammoth swing back into the red (unlikely) won’t knock its recent advance.
Elsewhere, gold miner New Murchison Gold (ASX:NMG) wowed HotCopper users after confirming revenue will start coming in next quarter. The meat and potatoes are that New Murchison is on its way to making money.
On the confidence-building report, NMG shares have climbed +8.7%, to 3.2c each.
(I wrote more about the New Murchison win in Week 40 earlier, too.)
Finally, 29Metals (ASX:29M) has been heavily talked about after seismic activity at its Xantho Extended orebody at the company’s Golden Grove mine.
Importantly, no injuries were reported when 29Metals updated the market, though “the time required to reinstate ground support to impacted Xanthoy Extended production levels is currently being assessed” today.
In response, 29M shares have dropped -21.1%.
Overall, the ASX is flat heading into the RBA’s September meeting.
That’s Tuesday’s HotCopper Market Trends, I’m Isaac McIntyre – see you for close.
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