Top 5 Gainers and Losers: LAC.TO, WEED.TO, OML.V

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

IberAmerican Lithium (IBER.NE)

Market Cap ~ $13.1 million

IberAmerican Lithium Corp., a hard-rock lithium exploration company, acquires and explores mineral resource properties. It owns a 100% working interest in the Alberta II and Carlota properties located in the mining jurisdiction of Galicia, Spain.

The stock is up 20% on no news.

After printing new all time record lows, the stock is bouncing from those levels. The key resistance still comes up ahead at $0.17. A breakout from here would begin a new uptrend.

Canopy Growth (WEED.TO)

Market Cap ~ $991 million

Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products. The company’s products include dried cannabis flower, extracts and concentrates, beverages, gummies, and vapes. It offers its products under the Tweed, 7ACRES, 7ACRES Craft Collective, DOJA, Ace Valley, Quatreau, Deep Space, First + Free, Surity Pro, Spectrum Therapeutics, Vert, Tokyo Smoke, Twd, Martha Stewart CBD, DNA Genetics, BioSteel, Storz & Bickel, This Works, HiWay, Simple Stash, Whisl, and Truverra brands.

The stock is up 21% on no news.

The stock is retesting the breakout zone around $9.00. So far, the buyers are stepping in here. This could lead to a higher low forming with a break above recent highs at $15.

Cult Food Science (CULT.CN)

Market Cap ~ $3 million

Cult Food Science Corp. is a venture capital firm specializing in incubation, seed/startup, early stage, mid venture, late venture, emerging growth and growth capital investments. The firm seeks to invest in companies operating in the food sectors. It does not have significant operations. It intends to acquire or participate in new assets or businesses. Previously, the company was engaged in the provision of freight, reloading, and warehousing services.

The stock is up 20% on news of a private placement. A non-brokered private placement offering of up to 16,000,000 units at a price of $0.05 per Unit for aggregate gross proceeds of up to $800,000.

Now that’s a basing chart. The stock could confirm a breakout by the end of the trading day. Watch for a close above $0.06.

Omni-Lite Industries (OML.V)

Market Cap ~ $12 million

Omni-Lite Industries Canada Inc. operates as a designer and manufacturer of precision components in the United States and Canada. It offers forged, electronic, and investment casting components for aerospace, military, specialty, automotive, sports, and recreational industries.

The stock is up 15% on news of Q4 and fiscal 2023 results.

The stock is breaking above recent highs, and is showing a bit of a cup and handle market structure. Watch for the resistance around $0.90.

Reconnaissance Energy Africa (RECO.V)

Market Cap ~ $204 million

Reconnaissance Energy Africa Ltd., a junior oil and gas company, engages in exploration and development of oil and gas potential in Namibia and Botswana. It holds a 90% interest in a petroleum exploration license that covers an area of approximately 25,341.33 kilometer square located in Namibia; and 100% working interest in a petroleum license, which covers an area of 8,990 square kilometer square located in northwestern Botswana.

The stock is up 15% on news of an operations update with respect to activity relating to Petroleum Exploration Licence 73, onshore northeast Namibia.

This press release may provide to be a reversal catalyst. The stock recently broke below support at $0.83 but today’s news is providing a gap up. Watch for a confirmed close above $0.83 at the end of the day.

Top 5 Losers

Lithium Americas Corp (LAC.TO)

Market Cap ~ $1.08 billion

Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada.

The stock is down 26% on news of the pricing of its previously announced an underwritten public offering of 55,000,000 of its common shares at a price to the public of $5.00 per Common Share for aggregate gross proceeds to the Company of $275,000,000.

A gap down as the Company agreed to sell 55 million shares at a discount. A 25% discount to Wednesday’s closing price. Yes, the money will be used to advance construction and development of its Thacker Pass Lithium Project, but this financing shows you either the state of the lithium sector… or the state of the economy.

Radius Gold (RDU.V)

Market Cap ~ $11 million

Radius Gold Inc. engages in the acquisition and exploration of mineral properties. It explores for gold, silver, copper, zinc, and lead deposits. The company holds interests in the Maricela project covering an area of 155 hectares located in Sonora, Mexico; the Rambler project covering an area of 10,379-hectares located in Chihuahua, Mexico; and the Amalia project covering an area of 10,250 hectares located in Chihuahua, Mexico. It also holds interests in the Plata Verde project covering an area of 300 hectares located in Chihuahua, Mexico; Tropico project located in Zacatecas, Mexico; and Holly and Banderas project located in Guatemala.

The stock is down 14% on no news.

The stock remains in a range. Resistance comes in at $0.17 (to fill in the gap) and support down at $0.09. Just wait for a break.

Xtract One Technologies (XTRA.TO)

Market Cap ~ $99 million

Xtract One Technologies Inc. engages in the research, development, and commercialization of threat detection gateway solutions in the United States, Japan, Canada, and internationally. It operates in two segments, Platform and Xtract segments. The Platform segment develops and commercializes a platform of artificial intelligence (AI) powered threat detection technologies. The Xtract segment develops and commercializes AI solutions.

The stock is down 13% on news of a public offering and investment by a strategic partner. Pursuant to the Offering, the Company intends to issue units at a price of $0.51 per Unit for gross proceeds of up to $5 million.

The stock has gapped down to the $0.51 zone and bounced at support which came in much lower. A huge gap has to be filled for upside momentum.

Wishpond Technologies (WISH.V)

Market Cap ~ $32 million

Wishpond Technologies Ltd. provides online business solutions in the United States, Canada, and internationally. The company provides a platform that provides companies with marketing, promotion, lead generation, sales automation, ad management, referral marketing, and sales conversion capabilities. It also offers proprietary cloud-based software, an AI powered website for lead generation, marketing automation, and analytics, including landing pages, social promotions, website pop-ups, online forms, lead activity tracking, and email marketing; and a range of integrated marketing services, such as campaign design and management, online advertising, search engine optimization, landing page design, and others.

The stock is down 10% on news of reporting Q4 and fiscal 2023 results.

The stock is testing a key support level right now at $0.60. Watch for signs of buyers stepping in here. We do have a nice cup and handle market structure here and the stock has been making higher lows and higher highs.

ThreeD Capital (IDK.CN)

Market Cap ~ $20.7 million

ThreeD Capital Inc. is a venture capital firm specializing in seed/startup, early venture, and growth capital opportunistic investments. The firm seeks to invest in industrials, health care, information technology; software, biotechnology; renewable technology, AI/Machine learning, blockchain, nanotechnology, electric vehicles, internet of things, electronic sports, junior resources with an emphasis on the precious-metal and battery-metal sectors; artificial intelligence with a focus on disruptive data science technologies, machine learning, and neuro networks; and blockchain sectors with a focus on blockchain assets.

The stock is down 15% on no news.