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
Grounded Lithium (GRD.V)
Market Cap ~ $7.7 million
Grounded Lithium Corp. engages in the exploration and development of lithium brine in Canada.
The stock is up 33% on news that the Company has entered into a definitive agreement dated January 15, 2024 with Denison Mines Corp whereby Denison has the option to earn up to a 75% working interest in the Kindersley Lithium Project by funding in aggregate up to $15,150,000 comprised of both cash payments to GLC of up to $3,150,000 and funding project expenditures of up to $12,000,000 through a structured earn-in option.
A trend shift about to be confirmed with today’s news? The stock has been in a long downtrend and has been in a range. Now, we are seeing a gap up. Watch for a daily close above $0.10.
PyroGenesis Canada (PYR.TO)
Market Cap ~ $131 million
PyroGenesis Canada Inc. designs, develops, manufactures, and commercializes plasma processes and solutions worldwide. It offers DROSRITE, a process for enhancing metal recovery from dross without any hazardous by-products; plasma atomization process that allows produce and sell high purity spherical metal powders; PUREVAP, a process to produce high purity metallurgical and solar grade silicon from quartz; and PUREVAP NSiR, which is designed to transform silicon into spherical silicon nano powders and nanowires for use in lithium-ion batteries.
The stock is up 28% on news PyroGenesis has now received a non-refundable down payment totaling $667,252 (US$500,000) from a US-based technology company. The Client’s name shall remain anonymous for competitive and confidential reasons.
This is one where a reversal is strongly in play. We even have a bit of a dirty looking inverse head and shoulders pattern. There is some resistance ahead around $0.90, let’s see how the stock handles this zone.
Independence Gold (IGO.V)
Market Cap ~ $32 million
Independence Gold Corp. engages in the acquisition, exploration, and evaluation of precious metal properties in Canada and North America. It explores for gold and silver deposits. It holds 100% interest in the 3Ts project comprising 15 mineral claims covering approximately 5,200 hectares located in the Nechako Plateau region of central British Columbia; and Boulevard project with approximately 958 quartz mining claims covering approximately 19,960 hectares situated in Whitehorse mining district, Yukon.
The stock is up 10.25% on news it intersects 27.43 Metres of 3.48 g/t Gold and 325 g/t Silver in the Mint Vein System at the 3Ts Project, BC.
The stock seems like it is topping but today’s news might reverse things around. Watch for a confirmed close above $0.21 to suggest the uptrend still has legs to go.
Alpha Cognition (ACOG.CN)
Market Cap ~ $91 million
Alpha Cognition Inc., a clinical stage biopharmaceutical company, focuses on developing treatments for Alzheimer’s disease and amyotrophic lateral sclerosis (ALS). It develops ALPHA-1062, an acetylcholine esterase inhibitor for the treatment of dementia of the Alzheimer’s type and mild traumatic brain injury; ALPHA-0602, a gene therapy for the treatment of ALS; and ALPHA-0702 and ALPHA-0802, a granulin epithelin motifs for the treatment of neurodegenerative diseases.
The stock is up 23% on no news.
A nice continuation after the stock broke out above the $0.50 resistance zone. The uptrend continues with today’s higher low price action. Of course, a daily confirmation close above $0.75 is required.
Drone Delivery Canada (FLT.V)
Market Cap ~ $72 million
Drone Delivery Canada Corp. designs, develops, and implements a commercial drone-based logistics platform in Canada and internationally. The company’s logistics infrastructure solution is an integrated turnkey logistics platform, which include industrial-grade drones, automated DroneSpot depots, automated battery management systems, a detect and avoid radar system, and proprietary FLYTE software to integrate various components into a solution.
The stock is up 20% on no news, but five days ago, the Company announced its Dronecare project is commercially operational.
Very bullish. For those new to charts, study this chart. Not only do we have a shift from a downtrend to an uptrend due to the break above the previous lower high, but we also have a gap fill. This is very bullish price action.
Top 5 Losers
Neotech Metals (NTMC.CN)
Market Cap ~ $47 million
The Company is a mineral exploration company based in Vancouver, B.C., which owns 40 rare earth mineral claims comprising the TREO Property, located in Northern, British Columbia. Canada. The Company also holds options on the EBB nickel-cobalt property located in British Columbia, Canada and 22 mining claims comprising the Thor REE Project, a mid-stage exploration property located in the eastern Mojave Desert Region, approximately 119 kilometers south of Las Vegas.
The stock is down 26% on no news.
A very hyperbolic/super nova like chart and looks like a pump and dump happened. The stock attempted to fill in the gap at $2.60 but failed to do so. A move down to $1.00 looks likely.
POET Technologies (PTK.V)
Market Cap ~ $55 million
POET Technologies Inc. designs, develops, manufactures, and sells discrete and integrated opto-electronic solutions in Canada, the United States, Singapore, and China. It offers integration solutions based on the POET Optical Interposer, a novel platform that allows the seamless integration of electronic and photonic devices into a single multi-chip module using advanced wafer-level semiconductor manufacturing techniques. It also develops photonic integrated components.
The stock is down 19% on news of an update on a non-brokered private placement of up to 4,098,360 units of the Corporation at a price of C$1.22 (US$0.90) per Unit, for aggregate gross proceeds of up to approximately C$5.0 million (US$3.7 million).
The stock attempted to breakout above $2.00 but this zone turned out to be resistance. This is the current lower high.
ESE Entertainment (ESE.V)
Market Cap ~ $7.7 million
ESE Entertainment Inc., an entertainment and technology company, focuses on gaming and esports in Europe and internationally. It operates through three segments: Digital Media and Entertainment; Telecommunications and Call Center Services; and Advanced Simulation Racing Infrastructure, Technology, and Support. The company operates its own ecommerce channels, esports teams, and gaming leagues. It also develops technology and data; builds bespoke simulators; and offers turnkey simulator packages.
The stock is down 17% on news of a strategic partnership with Metapro, a blockchain company. The partnership signifies a strengthened plan by ESE to provide its technology services to blockchain and crypto companies.
The stock broke out of the range with a close above $0.10. Now, the stock is retesting this breakout zone. A key moment for the stock. If buyers hold this zone, then a new uptrend can be in play. If buyers fail to hold this, then we would have a false breakout.
Numinus Wellness (NUMI.TO)
Market Cap ~ $39 million
Numinus Wellness Inc. provides psychedelic-assisted psychotherapy products and services in Canada and the United States. The company operates through Clinical Research Operations, Canadian Clinic Network, and U.S Clinic Network segments. The Clinical Research Operations segment offers clinical research management services to academic institutions and biotechnology companies.
The stock is down 17% on Q1 2024 results.
Q1 Fiscal 2024 Highlights
- Gross profit of $2.1 million, an 18.8% increase over Q4 2023
- Revenue of $5.9 million, a 3.0% decline over Q4 2023
- Reduced operating expenditures of 19.9% over Q4 2023
- Cash position of $4.7 million as at November 30, 2023
- Achieved reduced cash burn rate of under $1.0 million per month beginning in October 2023
- Over 700 learners enrolled in Numinus training programs
- Managed 22 clinical trials at Cedar Clinical Research
- Provided 19,961 client appointments in Numinus Wellness Clinics
A drop after earnings but the stock did confirm a bottoming pattern with a close above $0.14 in recent days. Now the stock is testing this zone. If bulls step in, the new trend can continue. A close below and we have a false breakout.
Fobi AI (FOBI.V)
Market Cap ~ $16 million
Fobi AI Inc., together with its subsidiaries, operates as a technology and data intelligence company in North America and Europe. It provides software as a service; consulting and development services; and resells, refers, and licenses its products. The company also offers mobile wallet solutions, digital coupons, and customer insights solutions. It serves various industries, including the hospitality and tourism industries.
The stock is down 14% on news it has released it annual audited financial statement for fiscal year ended June 30th 2023.
Today’s close will be important. If the stock closes below these recent lows, a drop further to $0.04 is most likely. If buyers can step in, then the stock can continue to base and thus have a chance to turn things around.
