{"id":11797,"date":"2021-07-25T20:27:24","date_gmt":"2021-07-25T20:27:24","guid":{"rendered":"https:\/\/economicherald.net\/?p=11797"},"modified":"2021-07-25T20:27:24","modified_gmt":"2021-07-25T20:27:24","slug":"hot-money-monday-tasmanian-whisky-group-lark-distilling-heated-up-in-july","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=11797","title":{"rendered":"Hot Money Monday: Tasmanian whisky group Lark Distilling heated up in July"},"content":{"rendered":"

Whisky manufacturer Lark Distilling Co (ASX:LRK)<\/a> kept things warm during winter, leading a group of 25 stocks that posted a 14-day RSI above 70 last week.<\/p>\n

Each week, Stockhead<\/em> recaps ASX stocks that are \u201crunning hot\u201d as deduced by the Relative Strength Index (RSI).<\/p>\n

The RSI is a technical gauge which measures how trading momentum is affecting the price action.<\/p>\n

A reading of 70 is seen as the level at which a company may have been overbought. If a stock has a reading of 30 or below, it could be undervalued.<\/p>\n

Click here<\/a> for a more detailed rundown of what the RSI does and how it\u2019s used.<\/p>\n

While there\u2019s usually a pretty good reason if a given stock is running hot (or cold), investors are also on the lookout for opportunities where the price action has separated from fundamentals.
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Running Hot <\/h2>\n

Here\u2019s a summary of the stocks that were running hot for the two weeks ended Friday, July 23:<\/strong><\/p>\n

Scroll or swipe to reveal table. Click headings to sort.<\/em><\/p>\n

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Code Company Price RSI MktCap$ LRK Lark Distilling Co. 4.80 92 $ 312,964,512.64 CKA Cokal Ltd 0.105 88 $ 78,589,496.61 AFW Applyflow Limited 0.008 87 $ 14,494,829.91 OEQ Orion Equities 0.41 86 $ 6,416,183.48 YFZ Youfoodz 0.915 85 $ 123,110,933.22 EPD Empired Ltd 1.315 84 $ 209,995,089.45 RBX Resource B 0.165 83 $ 5,771,089.45 WSI Weststar Industrial 0.03 82 $ 29,264,296.47 DRE Drednought Resources 0.062 81 $ 128,871,171.57 GRR Grange Resources 0.83 81 $ 954,804,425.85 FEL Fe Limited 0.11 80 $ 67,194,722.30 OKR Okapi Resources 0.375 79 $ 18,672,020.85 AXE Archer Materials 1.365 79 $ 297,157,042.53 PDI Predictive Disc Ltd 0.15 78 $ 202,510,782.30 AE1 Aerison 0.225 77 $ 70,365,622.24 KOR Korab Resources 0.026 77 $ 8,312,324.53 POS Poseidon Nick Ltd 0.13 74 $ 309,035,633.72 FTZ Fertoz Ltd 0.23 74 $ 41,843,101.25 SGC Sacgasco Ltd 0.051 73 $ 21,964,692.86 XF1 Xref Limited 0.47 73 $ 85,685,346.09 TOY Toys R Us 0.16 73 $ 135,737,417.28 PSC Prospect Res Ltd 0.33 72 $ 124,645,148.88 PGL Prospa Group 1.21 72 $ 199,029,115.12 NGS NGS Ltd 0.335 71 $ 15,768,350.58 ARN Aldoro Resources 0.47 70 $ 35,024,548.31 <\/p>\n

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Tassie whiskey company Lark Distillery (ASX:LRK)<\/a> topped this week\u2019s list, after a solid run in July which has seen its shares climb from around $3.20 to Friday\u2019s closing price of $4.80.<\/p>\n

The stock posted some solid gains around the release of LRK\u2019s 4C filing last Wednesday, where management flagged a push towards cash flow break-even over the next 12 months and said debt financing discussions with a number of the major banks are ongoing.<\/p>\n

For the June quarter, Lark Distilling posted net cash outflows of $3.8m from customer receipts of $5.17m.<\/p>\n

Metallurgical coal company Cokal Limited (ASX:CKA)<\/a> also ran hot with a 14-day RSI of 88. Like Lark, CKA has put together a solid run to open FY22 with its shares climbing from around 6c to 10.5c.<\/p>\n

CKA has multiple coal interests in Indonesia, Mozambique and Tanzania and its shares ripped higher by more than 20pc last Friday on no news.<\/p>\n

Last Tuesday, CKA announced the first $2m drawdown of a $20m debt facility it\u2019s using to fund the Bumi Barito mineral coking coal project in Indonesia, where production and sales are expected to commence in the December quarter.<\/p>\n

Nanocap recruitment tech platform ApplyFlow (ASX:AFW)<\/a> also popped up on this week\u2019s list, with little news flow over the past two weeks. <\/p>\n

Earlier this month, the company announced a fully underwritten pro-rata entitlement offer to raise $5.6m in order to fund \u201ccontinued growth and product development\u201d, AFW said.
\n\u00a0<\/p>\n

Running Cold <\/h2>\n

Here\u2019s a summary of the stocks that were running cold for the two weeks ended Friday, July 23:<\/strong><\/p>\n

Scroll or swipe to reveal table. Click headings to sort.<\/em><\/p>\n

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Code Company Price RSI MktCap$ ARD Argent Minerals 0.032 30 $ 28,936,021.09 HLX Helix Resources 0.021 30 $ 26,397,439.26 SWF Selfwealth 0.38 30 $ 85,374,604.50 PPY Papyrus Australia 0.02 30 $ 8,554,213.32 MVP Medical Developments 4.00 29 $ 286,483,981.44 ONX Orminexltd 0.031 28 $ 16,436,835.72 AGR Aguia Res Ltd 0.039 28 $ 13,014,005.16 MAN Mandrake Res Ltd 0.094 27 $ 38,968,394.56 APV Appsvillage 0.053 27 $ 5,201,043.26 ELE Elmore Ltd 0.023 26 $ 14,698,500.12 1AD Adalta Limited 0.094 23 $ 24,272,778.22 AML Aeon Metals Ltd 0.056 23 $ 38,621,474.44 BLG Bluglass Limited 0.0295 23 $ 29,094,093.20 GMN Gold Mountain Ltd 0.021 22 $ 18,425,398.18 MMI Metro Mining Ltd 0.016 22 $ 39,176,189.57 <\/p>\n

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Share-trading platform SelfWealth Ltd (ASX:SWF)<\/a>, which listed on the ASX in 2017, was among the stocks running cold after falling from around 48c to 38c so far in July.<\/p>\n

Last wek, SFW announced firm commitments for a $10m share placement along with a $2m share purchase plan at 39c per share to invest in product development as it looks to diversify its revenue channels.<\/p>\n

Earlier this month, the company said it\u2019s on track to roll out a cryptocurrency investment option<\/a> by year-end.<\/p>\n

The post Hot Money Monday: Tasmanian whisky group Lark Distilling heated up in July<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Whisky manufacturer Lark Distilling Co (ASX:LRK) kept things warm during winter, leading a group of 25 stocks that posted a 14-day RSI above 70 last [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":11798,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nHot Money Monday: Tasmanian whisky group Lark Distilling heated up in July - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=11797\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hot Money Monday: Tasmanian whisky group Lark Distilling heated up in July - 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