Well, that was brutal.<\/p>\n
After two days of steady falls, local markets executed a proper face-plant on Tuesday as the microcap Emerging Markets index slumped by 5.03%.<\/p>\n
For some recent history, you\u2019d have to go back to the heady days of March 2020 to find an intraday selloff as savage as that.<\/p>\n
Combined with the previous two trading sessions, the composite microcap index has now slumped by ~12% \u2014 moving into official correction territory (a fall of +10%) in just three days.<\/p>\n
As financial conditions start to tighten, local investors had to deal with a hot domestic inflation print this morning as trimmed mean CPI \u2014 the RBA\u2019s preferred measure of inflation \u2014 came in at its highest q\/q level since 2008.<\/p>\n
The trimmed mean measure \u201cwas a massive overshoot on the RBA\u2019s forecast for underlying inflation\u201d, CBA said.<\/p>\n
As a result, CBA economists now expect the first RBA rate hike to happen in August \u2014 ahead of its prior forecast (November).<\/p>\n
Turning to global markets, things are looking grim as well. US futures are live, and pointing to falls of more than 1% on the S&P500 in afternoon Asian trade.<\/p>\n
(Stocks highlighted in yellow rose after making announcements during the trading day).<\/strong><\/p>\n Scroll or swipe to reveal table. Click headings to sort.<\/em><\/p>\n Code Company Price % Volume BAS Bass Oil Ltd 0.002 33.3% 2,784,068 AFW Applyflow Limited 0.005 25.0% 10,988,244 PNX PNX Metals Limited 0.006 20.0% 3,825,786 CDA Codan Limited 9.78 16.8% 2,647,734 IGN Ignite Ltd 0.14 16.7% 4,185 MYG Mayfield Group Ltd 0.35 16.7% 20,000 1ST 1St Group Ltd 0.014 16.7% 2,994,204 MBK Metal Bank Ltd 0.007 16.7% 107 OEX Oilex Ltd 0.0035 16.7% 1,098,438 BEZ Besragoldinc 0.12 14.3% 233,541 SMS Starmineralslimited 0.2 14.3% 51,129 PGO Pacgold 0.8 12.7% 596,293 RNO Rhinomed Ltd 0.2925 12.5% 840,186 AUH Austchina Holdings 0.009 12.5% 28,853,211 SIH Sihayo Gold Limited 0.009 12.5% 20,000 AUQ Alara Resources Ltd 0.028 12.0% 1,709,850 MOQ MOQ Limited 0.155 10.7% 130,033 RGL Riversgold 0.021 10.5% 1,186,240 TOE Toro Energy Limited 0.021 10.5% 58,662,663 MOB Mobilicom Ltd 0.044 10.0% 20,114 SZL Sezzle Inc. 2.35 9.8% 4,432,425 TGM Theta Gold Mines Ltd 0.17 9.7% 62,000 BID Bill Identity Ltd 0.23 9.5% 112,148 HHR Hartshead Resources 0.023 9.5% 1,181,837 RDG Res Dev Group Ltd 0.07 9.4% 543,731 <\/p>\n WordPress Table Plugin<\/a><\/p>\n Among stocks with news, winners were more few and far between on Tuesday, although did someone say BNPL?<\/p>\n Penny stock recruitment business Applyflow Ltd (ASX:AFW)<\/a> got a boost after announcing it had booked the first revenues for Applypay \u2014 its instalment-based finance offering for recruitment services fees.<\/p>\n The platform \u201cpermits employers to use Applypay to pay recruiter invoices upfront in return for employers making four equal monthly instalment payments to Applypay\u201d, AFW said.<\/p>\n Also on the winner\u2019s list was digital health player 1st Group (ASX:1ST)<\/a>, which inked a $2.5m equity funding deal with private equity firm Adcock in connection with the acquisition of telehealth platform Visionflex.<\/p>\n And wearable nasal technology company Rhinomed (ASX:RNO)<\/a> got a lift following the release of its December 4C filing, where the company flagged a 63% lift in cash receipts to $2.53m.<\/p>\n (Stocks highlighted in yellow fell after making announcements during the trading day).<\/strong><\/p>\n Scroll or swipe to reveal table. Click headings to sort.<\/em><\/p>\n Code Company Price % Volume CLE Cyclone Metals 0.003 -33.3% 9,487,679 OAR OAR Resources Ltd 0.006 -33.3% 65,734,856 CGB Cann Global Limited 0.002 -33.3% 4,741,946 CAD Caeneus Minerals 0.009 -30.8% 87,092,133 BNR Bulletin Res Ltd 0.1 -25.9% 7,140,901 NPM Newpeak Metals 0.0015 -25.0% 114,468,126 NTL New Talisman Gold 0.0015 -25.0% 442,906 VMG VDM Group Limited 0.0015 -25.0% 1,748,635 ALV Alvomin 0.27 -22.9% 596,803 HCD Hydrocarbon Dynamic 0.011 -21.4% 1,707,438 VAR Variscan Mines Ltd 0.044 -21.4% 2,232,591 LRV Larvotto Resources 0.15 -21.1% 1,373,942 NAG Nagambie Resources 0.05 -20.6% 1,112,906 1MC Morella Corporation 0.027 -20.6% 83,573,676 CCE Carnegie Cln Energy 0.002 -20.0% 8,000,148 PCL Pancontinental Energ 0.002 -20.0% 175,514,952 SE1 Sensera Ltd 0.016 -20.0% 2,783,287 YPB YPB Group Ltd 0.002 -20.0% 1,439,801 NIS Nickelsearch 0.205 -19.6% 1,307,257 WR1 Winsome Resources 0.37 -19.6% 6,173,917 SLZ Sultan Resources Ltd 0.165 -19.5% 2,962,131 RDM Red Metal Limited 0.105 -19.2% 1,052,841 AZL Arizona Lithium Ltd 0.13 -18.8% 61,993,755 TEM Tempest Minerals 0.022 -18.5% 7,308,384 <\/p>\n WordPress Table Plugin<\/a><\/p>\n All bets are now live in New York for online gaming company PointsBet Holdings (ASX:PBH)<\/a> in New York.<\/p>\n PBH today announced its wholly-owned subsidiary PointsBet New York LLC has successfully launched online and mobile sports betting in New York. Shares in the company fell almost 9% in Tuesday trade.<\/p>\n New York marks the ninth operational state for PointBet\u2019s premium sports betting product following other launches in New Jersey, Iowa, Indiana, Illinois, Colorado, Michigan, West Virginia and Virginia.<\/p>\n Rectifier Technologies (ASX:RFT)<\/a> which services the home and car batteries markets has renewed its exclusive supplier agreement with Brisbane-based EV charger maker Tritium (NASDAQ:DCFC,DCFCW).<\/p>\n Tritium commenced trading on the Nasdaq this month following a merger with a Special Purpose Acquisition Company (SPAC), a so-called \u201cblank cheque\u201d company.<\/p>\n Rectifier will provide a high-powered power supply for Tritium\u2019s range of high-powered chargers (HPC) through the agreement which is effective until March 31, 2023.<\/p>\n Gateway Mining (ASX:GML)<\/a> and DiscovEx Resources (ASX:DCX)<\/a> have announced encouraging soil sampling results at their Edjudina joint venture in Western Australia.<\/p>\n Results at the Hornet East Prospect show a continuous +10ppb gold anomaly, open to the south that has been defined across multiple sample lines and extends for approximately 1.2km.<\/p>\n And lastly, Corporate Travel Management (ASX:CTD)<\/a> has completed a $25 million share placement plan (SPP) as part of its $100m acquisition of Helloworld Corporate Travel.<\/p>\n A total of ~1.2 million shares will be issued under the SPP at $21 per share, the lower end of a five-day VWAP of $21.54 up to and including January 20, 2022, when it closed.<\/p>\n Managing Director and CEO James Pherous said the strong support for the capital raise from retail and institutional investors is an endorsement of the company\u2019s acquisition of Helloworld Corporate.<\/p>\n The following stocks went into halts today and are due to recommence trading in the coming days.<\/em><\/p>\n Alloggio Group (ASX:ALO)<\/a> \u2014 Acquisition The post Closing Bell: Microcaps bloodbath continues as US stock futures fall again<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"TODAY\u2019S BIGGEST SMALL CAP LOSERS<\/h2>\n
ANNOUNCEMENTS YOU MAY HAVE MISSED<\/h2>\n
TRADING HALTS<\/h2>\n
\nAgrimin Ltd (ASX:AMN)<\/a> \u2014 Capital raising<\/p>\n