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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.
First up, Dateline Resources (ASX:DTR) has had chins wagging − both on the forums and in our Market Link bullpen − after halting trade before a capital raise that it will be mainly offering through to U.S. investors.
There’s little details beyond what Dateline shared on Wednesday before the pause, and that’s left forum users to speculate exactly what it may mean long-term.
Before today’s halt, DTR shares were at 37.2c each.
New Murchison Gold (ASX:NMG) is the next top company on the forums, trending after sharing its first full quarter of production. The numbers were great, too: The gold producer clocked up 184.7K dry tonnes of crushed ore at an agreed grade of four grams per tonne gold at a recovery of 95.9%.
My colleague JD just flagged NMG is already up over +600% through the last year, and with gold prices chugging along at ATHs, there’s likely more to run.
Finally, Metallium (ASX:MTM) was the last of the top-trending ASX companies on the HotCopper forums today. The company popped after a A$75M cap raise, which was mainly backed by U.S. institutions.
MTM has been 87cps through today.
And looking a little wider, the ASX is down -0.3%.
That’s Wednesday’s HotCopper Market Trends, I’m Isaac McIntyre – see you for close.
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