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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.
Biotech Orthocell (ASX:OCC) has drawn the most attention on HotCopper forums today after halting early morning. While the Perth medicine company has yet to share why it paused, it’s understood they’re launching a placement.
That raise will aim to add $25M to Orthocell’s coffers to boost manufacturing capacities and help expand the sales of its nerve repair device, Remplir, in the U.S.
OCC has been up +27% this month; the stock was selling at $1.43 pre-pause.
Elsewhere, St George Mining (ASX:SGQ) has been drawing buzz after Gina Rinehart bought into the rare earth miner, and it banked $72.5M in funding for Araxá. A day later (today), the explorer then hit 98-metre thick high-grade rare earths just west of that project to help excitement again. SGQ is 17cps.
And, Andromedia Metals (ASX:ADN) is also in a halt today; it ranked in the top three for most discussed stocks in HotCopper threads.
Looking wider, the ASX has been heavily green at +0.78%.
That’s Monday’s HotCopper Market Trends, I’m Isaac McIntyre – see you for close.
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