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
Nevada Sunrise Metals (NEV.V)
Market Cap ~ $8.2 million
Nevada Sunrise Metals Corporation, an exploration stage company, engages in the acquisition, exploration, and evaluation of mineral properties in Nevada, the United States. The company explores for gold, copper, cobalt, nickel, and lithium deposits. It holds interests in the Kinsley Mountain property located in White Pine County; the Gemini and Jackson Wash situated in Esmeralda County; the Coronado VMS property in Pershing County; and the Lovelock mine property and the Treasure Box property located in Churchill County.
The stock is up 50% on news that it has released its maiden resource estimate of 7.1 million tonnes LCE on its Gemini Lithium Project in Nevada.
A strong pop on good news. The market likes the maiden resource estimate. This is occurring when the stock was in a strong downtrend. Watch for the resistance at $0.10 to be taken out in the next few days for further momentum.
Flow Beverage (FLOW.TO)
Market Cap ~ $18 million
Flow Beverage Corp., a health and wellness focused beverage company, engages in production and distribution of original unflavored and collagen-infused alkaline spring water in the United States and Canada. The company’s spring water available in natural flavours, such as blackberry+hibiscus, grapefruit+elderflower, strawberry+rose, watermelon+lime, cucumber+mint, lemon+ginger, watermelon, grapefruit, cucumber, peach+blueberry, blood orange, meyer lemon, pomegranate, elderberry, citrus, and cherry. It distributes its products under the Flow brand name through direct sales, broker/distributors, and direct-to-consumer/e-commerce channels.
The stock is up 36% on news it has entered into a 3 year manufacturing agreement with BioSteel Sports.
The stock was ranging at previous record lows and today’s news is causing a potential breakout. A daily candle close above $0.305 would confirm a break above the range. The next level higher comes in around the $0.50 zone.
Arbor Metals (ABR.V)
Market Cap ~ $59 million
Arbor Metals Corp. identifies, acquires, explores for, and develops natural resource properties in Canada. The company holds interests in the Jarnet Lithium Project, which comprises forty-seven map designated mineral claims covering an area of approximately 3,759 hectares located in the James Bay Region of Quebec. It also holds interest in the Miller Crossing lithium project comprising 192 claims covering an area of 3,800 acres located in Nevada, United States; and the Rakounga Gold Project located in Burkina Faso, West Africa.
The stock is up 29% on news of promising assay results from its Fall 2023 exploration program at the Jarnet Lithium Project in Quebec.
The stock has been tumbling since breaking below $2.60 back in October 2023. The stock is bouncing on the news but technically, it will remain in its downtrend until it closes above the current lower high which comes in at $1.00.
Steer Technologies (STER.V)
Market Cap ~ $43 million
Steer Technologies Inc. operates an integrated ESG technology platform that offers subscription and on-demand services. The company provides STEER EV, a subscription-based offering led by its flagship electric vehicle subscription business and electric vehicle long-term ownership or rental; and on-demand services incorporating delivery, B2B marketplace, Delivery-as-a-Service, food delivery service, and rideshare businesses. It operates in the United States and Canada.
The stock is up 28% on no news.
The stock is in its uptrend ever since it broke above the range at $0.075. It confirmed the retest and a higher low. The uptrend remains intact. The stock could see a pullback after this price action. If so, watch for a second higher low to form.
NorthStar Gaming Holdings (BET.V)
Market Cap ~ $15 million
NorthStar Gaming Holdings Inc., through its subsidiaries, operates an online betting platform in Canada. It own’s and operates NorthStar Bets, a casino and sportsbook gaming platform with pre-live and live markets with monthly sports betting markets, and slot, live, table and jackpot casino games including slot games, blackjack, roulette, and baccarat.
The stock is up 23% on no news, but yesterday, the Company reported preliminary Q4 and full year 2023 results:
Preliminary results for the three months ended December 31, 2023:
- Revenue, including managed services fees, net of bonuses, promotional costs and free bets, is expected to be approximately $6.5 million in Q4 2023, an increase of 103% over $3.2 million in Q4 2022.
- Total Wagers(2) at Northstarbets.ca are expected to be approximately $213.3 million in Q4 2023, an increase of 90% compared to $112.3 million in Q4 2022.
- Gross Gaming Revenue(2) at NorthStarbets.ca is expected to be approximately $7.6 million in Q4 2023, an increase of 85% over $4.1 million in Q4 2022.
- Gross margin is expected to be approximately $2.5 million in Q4 2023, an increase of 127% over $1.1 million in Q4 2022, and represents approximately 39% of revenue compared to 35% of revenue in Q4 2022.
Preliminary results for the year ended December 31, 2023:
- Revenue, including managed services fees, net of bonuses, promotional costs and free bets, is expected to be approximately $19.5 million in 2023, an increase of 242% over $5.7 million in 2022.
- Total Wagers(2) at Northstarbets.ca are expected to be approximately $648.8 million in 2023, an increase of 251% compared to $184.7 million in 2022.
- Gross Gaming Revenue(2) at NorthStarbets.ca is expected to be approximately $22.5 million in 2023, an increase of 208% over $7.3 million in 2022.
- Gross margin is expected to be approximately $7.1 million in 2023, an increase of 492% over $1.2 million in 2022, and represented approximately 36% of revenue compared to 21% of revenue in 2022.
The stock was ranging at record lows, but earnings are causing a stir. The stock had a nice 85% pop on earnings, and today’s price action is strongly indicating that momentum is continuing. There seems to be some resistance around $0.10.
Top 5 Losers
Think Research Corporation (THNK.V)
Market Cap ~ $14 million
Think Research Corporation provides knowledge-based digital health software solutions in Canada, the United States, and internationally. The company’s products portfolio comprises order sets that structures clinical pathway at the point of care; eReferrals that allows physicians to find and refer specialists directly from EMR systems; Digital Front Door, a patient engagement platform that enables healthcare organizations to provide access to care and health information through a single digital service window; VirtualCare, which allows clinicians and allied health professionals to replace in-person appointments with virtual visits; and eForms, a real-time analytics to track resident volumes, signature adherence, and compliance; and COVID-19 clinical tools, as well as clinical support tools for long-term care.
The stock is down 23.9% on no news.
The stock sold off at resistance around the $0.25 zone. A big sell off as seen by today’s gap down. Support comes in at $0.16. If buyers do not hold this level, then new all time record lows will be printed.
Max Power Mining (MAXX.CN)
Market Cap ~ $15 million
Max Power Mining Corp., a junior mineral exploration company, engages in the acquisition, exploration, and evaluation of natural resource properties in Canada. It explores for nickel, cobalt, copper, and lithium deposits, as well as platinum group elements. The company holds an option to acquire a 100% interest in Nicobat Property located in Rainy River region, Ontario. It also holds 100% interests in the Spark property located in Nunavik area of Quebec; and the Corvette Lake lithium properties situated in James Bay District, Quebec.
The stock is down 22.5% on no news. However, yesterday the Company announced it extended strike length of Willcox Lithium discovery to 3 miles.
A huge break down and the next support comes in at $0.275. If this breaks, the stock will be printing new all time record lows.
Ophir Gold (OPHR.V)
Market Cap ~ $8.1 million
Ophir Gold Corp. acquires, explores, and evaluates mineral property assets in the United States. The company explores for lithium, and precious and base metal deposits. It primarily holds 100% interest in the Breccia Gold property located in Lemhi County, Idaho; and the Radis Lithium property located in the James Bay region of Quebec, Canada.
The stock is down 17.5% on no news. Yesterday, the Company announced an update on the Radis and Leran Lithium Projects in James Bay Quebec.
After a uptrend into summer last year, the stock printed a reversal pattern and has been in a strong downtrend. The stock is now breaking below $0.10 and support comes in around $0.05.
Rackla Metals (RAK.V)
Market Cap ~ $7.1 million
Rackla Metals Inc., a junior gold exploration company, engages in the acquisition, exploration, and evaluation of mineral properties in Canada. The company holds a 100% interest in the Rivier property located in the Watson Lake Mining District, Yukon. It also holds interests in the Tombstone Gold Belt projects situated in Yukon and Northwest Territories.
The stock is down 16% on no news.
The stock is testing a support level and a break below would see price drop down to $0.06.
Mason Resources (LLG.V)
Market Cap ~ $25 million
Mason Resources Inc., a mining and processing company, engages in the extraction, processing, and development of graphite deposits in Canada. The company primarily owns a 100% interest in the Lac Guéret graphite property located in Quebec, Canada. It also focuses on the production and commercialization of patented graphene products for various industrial sectors, including concrete, polymers, Li-ion batteries, and others; and development of value-added graphite products.
The stock is down 12% on no news. Yesterday, the Company announced NMG has agreed to acquire 100% of Mason Resources’ Lac Guéret graphite deposit to secure a world-class asset which will underpin NMG’s planned Phase-3 expansion.
A typical triangle pattern. The stock is finding resistance at the trendline and support comes in at $0.20. The stock is breaking below this support. If we get a daily close by the end of the day confirming this breakdown, the stock is likely to drop to the $0.12-$0.15 support zone.
