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
Lifeist Wellness (LFST.V)
Market Cap ~ $5.4 million
Lifeist Wellness Inc. operates as a wellness company in the United States and Canada. The company operates an online marketplace for hemp-derived CBD and accessories; and a butane hash oil extraction facility. It also distributes licensed and in-house branded adult-use cannabis and cannabis derived products; and supplies hardware, including vaporizers and related accessories, as well as engages in the biosciences and consumer wellness business.
The stock is up 100% on news that the Company has sold CannMart for total aggregate consideration of CAD $5 million.
The stock has been in a long downtrend which has turned into a range. The stock needs to close above $0.02 to take out the current lower high and enter a new uptrend.
Indigo Books (IDG.TO)
Market Cap ~ $60 million
Indigo Books & Music Inc., together with its subsidiaries, operates as a book and lifestyle retailer in Canada and the United States. It offers books, toys, gifts, baby, kids, wellness, lifestyle, living, fashion, paper, home, and electronics products, as well as kid’s books, outdoor, beauty, and paper products.
The stock is up 45% on news the Company has confirmed it has received a non-binding privatization proposal. A potential transaction to acquire all of the issued and outstanding common shares of the Company that Trilogy and its joint actors do not currently own for $2.25 in cash per common share of the Company.
A giant pop gap up and the stock is now testing key resistance at the $2.20 zone. There seems to be resistance up to the $2.60 zone.
NICAN Limited (NICN.V)
Market Cap ~ $9.4 million
NiCAN Limited engages in the exploration, development, operation, and financing of mining assets in Canada. The company primarily explores for nickel and copper deposits, as well as by-products of copper, cobalt, and platinum group elements. It holds interest in the Wine project consisting of 24 mineral claims covering an area of 5,666 hectares; and the Pipy project comprised of 20 mineral claims covering an area of 3,913 hectares located within the lake greenstone belt of Manitoba.
The stock is up 22% on news of a bought deal financing consisting of (i) 3,000,000 common shares of the Company at a price of $0.10 per Common Share.
Spoke about the price action on this stock in yesterday’s top stocks article. The stock is in a new uptrend as long as it stays above the $0.08 zone. Today’s price action could be confirming the first higher low in this new uptrend.
Jushi Holdings (JUSH.CN)
Market Cap ~ $265 million
Jushi Holdings Inc., a vertically integrated cannabis company, engages in the cultivation, processing, retail, and distribution of medical and adult-use products. It focuses on building a portfolio of cannabis assets in various jurisdictions in Pennsylvania, Virginia, Ohio, Illinois, California, Nevada, and Massachusetts.
The stock is up 18% on no news.
Now this is a very nice looking set up. The stock is breaking above a major resistance zone at $1.25. A confirmed close above this resistance triggers the breakout.
District Metals (DMX.V)
Market Cap ~ $35 million
District Metals Corp., a junior mineral exploration stage company, acquires, explores, and evaluates natural resource properties. The company holds a 100% interest in the Tomtebo property covering an area of 5,144 hectares located in Bergslagen Mining District of south-central Sweden; and Svärdsjö property covering an area of 1,037 hectares located in the Bergslagen mining district of south-central Sweden. It also owns a 100% interest in the Gruvberget property covering an area of 5,286 hectares located in Bergslagen Mining District of south-central Sweden; and 20% interest in the Bakar property covering an area of 9,318 hectares located in North Vancouver Island in British Columbia, Canada.
The stock is up 15% on no news. Yesterday, the Company announced the closing of a $4.5 million bought deal private placement financing.
The uptrend continues with the breakout and confirmation of a higher low. Resistance comes in at the $0.40 zone.
Top 5 Losers
Flint Corp (FLNT.TO)
Market Cap ~ $3.9 million
Flint Corp. provides upstream, midstream, and downstream production services in Canada and the United States. It operates through Maintenance and Construction Services, and Wear Technology Overlay Services segments. The Maintenance and Construction Services segment offers operational, maintenance, welding, fabrication, machining, construction, and turnaround services to the conventional oil and gas, oil sands, and other industries, as well as abandonment, decommissioning, and reclamation services.
The stock is down 30% on no news. Yesterday, the Company announced it has booked new contract awards and renewals that are estimated to generate approximately $244 million in backlog. Approximately 38% of the work will be executed in 2024 with the balance scheduled for 2025-2029.
Yesterday’s close did not confirm a close above the $0.05 resistance. This is why candle closes are very important and why it is best not to chase. The stock has pulled back and buyers are stepping in at $0.03. A close below this would nullify the recent upwards momentum.
BonTerra Resources (BTR.V)
Market Cap ~ $26 million
Bonterra Resources Inc. engages in the acquisition, exploration, and evaluation of mineral properties in Canada. It explores primarily for gold and silver deposits. The company’s primary projects include the Gladiator, Moroy, and Barry deposits. It also owns 100% interest in the Bachelor Mill.
The stock is down 14% on no news.
A sell off in a range pattern. The $0.25 zone is resistance and the stock needs a strong close above this zone to breakout.
Numinus Wellness (NUMI.TO)
Market Cap ~ $32 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 Canadian Clinic Network segment provides clinical services, including traditional therapy and counseling, ketamine-assisted therapies for depression, psychedelic-assisted therapies, mindfulness programs, and virtual psychotherapy services, as well as neurological care services.
The stock is down 14% on news of a $6 million bought deal public offering with Leads Orders from MAPS and Integrated V.C.
The stock recently broke above the $0.14 zone. The retest has failed and it looks like support at $0.10, and possibly lower, will be next.
Neotech Metals (NTMC.CN)
Market Cap ~ $37 million
Neotech Metals Corp. is a mineral exploration company dedicated to discovering and developing valuable mineral resources in promising regions around the world. With a strong commitment to environmental stewardship and sustainable practices, Neotech is positioned to make a positive impact while maximizing the potential of its exploration properties. The Company is a mineral exploration company based in Vancouver, B.C., and owns 100% of its TREO Rare Earth Element Property, comprising 37 mineral claims, located 90 km northeast of Prince George, British Columbia. The Company also holds options on the EBB nickel-cobalt property in British Columbia, Canada and 22 mining claims comprising the Thor REE Project, an early-stage exploration property in the eastern Mojave Desert Region, approximately 119 km south of Las Vegas.
The stock is down 11% on no news.
The stock has failed to fill the gap which is current resistance. $1.00 was taken out and now the stock is testing the key support at the $0.80 zone.
Sigma Lithium (SGML.V)
Market Cap ~ $2.54 billion
Sigma Lithium Corporation engages in the exploration and development of lithium deposits in Brazil. It holds a 100% interest in the Grota do Cirilo, Genipapo, Santa Clara, and São José properties comprising 29 mineral rights covering an area of approximately 185 square kilometers located in the Araçuaí and Itinga regions of the state of Minas Gerais, Brazil. It serves electric vehicle industries worldwide.
The stock is down 10% on no news. Two days ago, the Company announced a significant increase in its Audited NI 43-101 Mineral Resource to 109 million tonnes of measured, indicated and inferred mineral resource at its Sigma Brazil.
The stock has broken below a key support level at $30.00. The next support comes in around the $22.00 zone. Bulls and buyers should watch for a range to develop to indicate the exhaustion of selling pressure.
