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 Gainers
Ramp Metals (RAMP.V)
Market Cap ~ $26 million
Ramp Metals Inc. engages in the acquisition and exploration of battery and base metal properties. The company primarily explores for nickel, copper, and lithium deposits. It holds an option to acquire a 100% interest in the Rottenstone SW property with a contiguous claim block covering 17,285.524 hectares; and the Peter Lake Domain property with 4 mineral dispositions totaling approximately 2,163 hectares located in Saskatchewan, Canada.
The stock is up 21% on no news. Three days ago, the Company announced a new high-grade gold discovery in Saskatchewan.
The uptrend continues. Just be careful. We know there are sellers in this area given the large wick on yesterday’s candle. Profits are being taken. If today’s daily close is a full bodied green candle, meaning the close is near the highs of the day, you would have good probabilities for continued momentum tomorrow.
Hillcrest Energy Technologies (HEAT.CN)
Market Cap ~ $42 million
Hillcrest Energy Technologies Ltd. engages in developing power conversion technologies and digital control systems for powertrains, and grid-connected renewable energy generation systems. It offers electric vehicle traction inverter, power module, grid inverter, and powertrain solutions, as well as develops a zero voltage switching inverter technology platform.
The stock is up 17% on no news. Three days ago, the Company announced the completion of a joint development agreement with Ocean Batteries AS for the delivery of 300kVA | 800V Hillcrest ZVS inverter prototypes.
Very strong price action from the bulls. Buyers are stepping back in as profits were taken yesterday. $0.50 remains the next major resistance zone for the stock to test.
Griid Infrastructure (GRDI.NE)
Market Cap ~ $111 million
Griid Infrastructure Inc. operates as a vertically integrated bitcoin mining company in North America. The company owns and operates a portfolio of energy infrastructure and data centers. It also engages in bitcoin mining operation, which operates specialized computers that generate cryptocurrency.
The stock is up 41% on no news.
One for the bottom pickers. After printing record lows, the stock has printed an engulfing candle, and has closed back above $1.00. The $2.00 zone is the current resistance.
Mogotes Metals (MOG.V)
Market Cap ~ $32 million
Mogotes Metals Inc. engages in the acquisition, exploration, and evaluation of mineral exploration properties in Argentina and Chile. The company primarily explores for copper and gold deposits. Its flagship project is the Filo Sur project located in the Province of San Juan, Argentina and in Chile.
The stock is up 19% on no news.
Not much price action here but we have two key levels: support at $0.115 and resistance at $0.17. Bulls should wait for the upside resistance to break.
MiMedia Holdings (MIM.V)
Market Cap ~ $17 million
MiMedia Holdings Inc. operates a consumer cloud platform in the United States. The company’s platform enables consumers to access all their personal content, such as photos, videos, music, documents, SMS, and contacts on any device and operating system.
The stock is up 17% on news the Company has signed a global distribution agreement with Schok Wireless.
A nice breakout here but we must wait until the end of the day for the close. A close above would see the stock test $0.50 in coming days.
Top 5 Losers
Fathom Nickel (FNI.CN)
Market Cap ~ $8.4 million
Fathom Nickel Inc., an exploration stage company, engages in identification, acquisition, and exploration of the base and precious metals for use in electric vehicle and battery markets. The company primarily explores for nickel deposits. Its flagship project is the Albert Lake Project which consists of 31 mineral claims covering an area of 90,460 hectares located in the La Ronge Mining District of Saskatchewan, Canada.
The stock is down 14% on news of a new exploration permit and commencement of field activities at the Gochager Lake Project.
The stock has reclaimed the broken down support zone. We do have a bit of a “V” bottom which are not my favorite to trade, but the close above $0.06 is significant as it took out the current lower high.
FSD Pharma (HUGE.CN)
Market Cap ~ $9.6 million
FSD Pharma Inc., a biopharmaceutical company, researches and develops a portfolio of assets and biotech solutions for the treatment of challenging neurodegenerative, inflammatory and metabolic disorders, and alcohol misuse disorders with drug candidates in different stages of development. The company operates through two segments, Biopharmaceutical and Strategic Investments. Its lead compound is Lucid-MS, a patented new chemical entity that is in Phase 2 clinical trial to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models.
The stock is down 14% on no news.
The stock continues to bleed lower and lower printing new all time record lows. Wait for a range or some large hammer candle to indicate possible selling exhuastion.
DeFi Technologies (DEFI.CN)
Market Cap ~ $565 million
DeFi Technologies Inc., a technology company, develops and lists exchange traded products in Canada, Bermuda, and the Cayman Islands. The company provides asset management services, such as investment vehicles, indirect exposure to underlying cryptocurrencies, digital asset indexes, and other decentralized finance instruments. It also participates in decentralized blockchain networks by processing data transactions that contribute to network security and stability, governance, and transaction validation.
The stock is down 15% on no news.
The stock is testing key support at $2.00. Currently, we are breaking below but as you can see by the large wick candles, buyers tend to jump in around this zone. If today’s candle is a large red candle with the close near the lows, watch out below!
Graphene Manufacturing (GMG.V)
Market Cap ~ $55 million
Graphene Manufacturing Group Ltd, a clean-technology, manufactures and supplies graphene powder. The company engages in the manufacture and sale of energy saving and energy storage solutions. Its products portfolio includes graphene aluminium-ion battery; THERMAL-XR, an HVAC coating system that enhance the conductivity of corroded heat exchange surfaces and maintain the performance of units; and G LUBRICANT, a graphene and lubricating oil.
The stock is down 13% on no news.
So far just a pullback. Bulls should worry if the stock closes below the $0.50 zone. The breakout pattern is still holding.
KWESST Microsystems (KWE.V)
Market Cap ~ $5.2 million
KWESST Micro Systems Inc. engages in the development and commercialization of tactical systems and ammunitions for military, public safety agencies, and personal defense markets. The company non-lethal products, including PARA OPS devices and ARWEN products.
The stock is down 12% on no news.
After a large pop higher, momentum is fading and we are now testing the bottom portion of the gap. If this gap fills, the stock will reverse its upwards momentum. Important price action day.
