In this summary report, we will take a quick look at the top 5 gainers and losers up or down double digits on the Canadian stock markets.
Here is a summary of the intraday action of assets:
Top 5 Gainers
Digihost Technology Inc. (DGHI.V)
Market Cap ~ $64 million
Digihost Technology Inc. operates as a blockchain technology company focuses on the blockchain industry in the United States. The company mines for cryptocurrency.
The stock is up 29.31% on no news. But is no surprise given the move in Bitcoin and cryptocurrencies today given the Grayscale ETF ruling.
It really looks like the stock has confirmed an inverse head and shoulders pattern with the breakout above $1.60. We have also cleared through the psychological $2.00 resistance zone with a gap up. The next resistance zone comes in at $2.80.
DeFi Technologies (DEFI.NE)
Market Cap ~ $32 million
DeFi Technologies Inc., a technology company, engages in the development and listing of Exchange Traded Products (ETPs). The company’s ETPs provide investment vehicles, indirect exposure to underlying cryptocurrencies, digital asset indexes, and other decentralized finance instruments.
The stock is up 27.2% on news of a joint venture agreement to collaborate on the development of AI based exchange traded products, actively managed certificates, and asset-backed tokens for global distribution with Swiss-based Neuronomics.
Another gap up pop amidst strong news and crypto action. The major resistance zone comes in at $0.18 which would be the first target for bulls.
Enduro Metals Corporation (ENDR.V)
Market Cap ~ $12 million
Enduro Metals Corporation engages in the identification, acquisition, and exploration of precious metal resources in Canada. It primarily explores for gold, copper, silver, zinc, lead, and nickel deposits.
The stock is up 25% on no news. The message board is quite lively.
The stock has recently printed new all time record lows at $0.04. Today’s pop is still a relief in a downtrend until the stock can confirm a close above $0.06.
Quebec Precious Metals (QPM.V)
Market Cap ~ $10 million
Quebec Precious Metals Corporation engages in the acquisition, exploration, and development of mining projects in Canada. The company explores for gold and rare earth metals.
The stock is up 22% on news of the discovery of Spodumene at the Elmer East Project, James Bay, Quebec.
The stock has a nice breakout pop with strong volume. $0.13 is the next resistance zone.
Graph Blockchain (GBLC.C)
Market Cap ~ $1.36 million
Graph Blockchain Inc. operates as a blockchain development company. It provides exposure to various areas of decentralized finance to shareholders.
The stock is up 33% on no news, but crypto stocks are up on the bitcoin breakout and the Grayscale ETF ruling news.
The stock is holding a range and needs a breakout for further momentum. A close above $0.025 gets us a range breakout with resistance then at $0.05.
Top 5 Losers
Golden Minerals (AUMN.TO)
Market Cap ~ $20 million
Golden Minerals Company, a precious metals exploration company explores for mineral properties. It explores for gold, silver, copper, zinc, lead, and other minerals.
The stock is down 19.6% on no news.
This move looks like a pullback after some profit taking. The stock recently broke out above $1.50 and as long as the stock remains above this zone, the uptrend can continue.
Theralase Technologies (TLT.V)
Market Cap ~ $46 million
Theralase Technologies Inc., a clinical stage pharmaceutical company, engages in the research and development of photo dynamic compounds (PDCs) and their associated drug formulations to treat cancers, bacteria, and viruses in Canada, the United States, and internationally.
The stock is down 19% on news that it has entered into an agreement with Research Capital Corporation as the sole agent and sole bookrunner on a “best efforts” agency basis, brokered offering of units of the Company at a price of C$0.22 per Unit.
The stock has dropped to a major support zone around $0.20. Today’s close will be significant for the stock. A breakdown would set us up for a move towards $0.16 and possibly lower.
Archer Exploration (RCHR.C)
Market Cap ~ $6.3 million
Archer Exploration Corp. engages in the identification, acquisition, evaluation, and exploration of mineral properties. Its flagship asset is the Grasset nickel sulphide project that consists of 153 claims blocks covering an area of 81.81 square kilometers located in the Quebec, Canada.
The stock is down 17.6% on news of a non-brokered private placement of securities to raise total gross proceeds up to C$1,500,000. The Offering will be comprised of: (i) Quebec charity flow-through units (the “CFT Units”) to be sold at a price of $0.155 per CFT Unit; (ii) flow-through units (the “FT Units”) to be sold at a price of $0.09 per FT Unit; and (iii) non-flow-through units (the “NFT Units”) to be sold at a price of $0.08 per NFT Unit.
The stock was looking to breakout of the range above $0.09 but instead is retreating lower. A breakdown below $0.065 takes us to new all time record lows.
Black Swan Graphene (SWAN.V)
Market Cap ~ $30 million
Black Swan Graphene Inc. engages in the production and commercialization of patented graphene products for polymers, concrete, Li-ion batteries, and other sectors.
The stock is down 13% on no news.
Keep an eye on this one. This appears to be more of a pullback retest than reason to be worried of a breakdown. The stock is now retesting the breakout zone of $0.10. If a new trend is to begin, buyers would be stepping in to defend this zone.
Northern Graphite Corporation (NGC.V)
Market Cap ~ $37 million
Northern Graphite Corporation engages in the acquisition, exploration, development, and production of graphite and other battery mineral properties in North America.
The stock is down 12% on no news. Yesterday, the Company commented on the potential impacts of China’s decision to impose controls on some exports of graphite, a key component of Lithium-Ion batteries for electric vehicles, citing national security grounds.
Just like the graphite stock above, this is profit taking and a pullback after a breakout and possible trend reversal. The breakout zone for this stock is around the $0.26 zone.
