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
IM Cannabis Corp (IMCC.CN)
Market Cap ~ $13 million
IM Cannabis Corp. engages in breeding, growing, and supply of medical cannabis products in Israel and Germany. It offers cannabis flowers and strain-specific cannabis extracts under the IMC brand; and dried flower, pre-rolls, minis, and full spectrum extracts offerings under the WAGNERS and BLKMKT brands.
The stock is up 55% on news that it welcomes the implementation of the medical cannabis regulatory reform in Israel on April 1st.
A very nice breakout with a close above $0.60. We have a pattern triggering here and it looks like a new uptrend has begun. This stays intact as long as the stock remains above $0.60.
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 up 46% on no news.
The stock is breaking above a range but is now testing the key resistance at the $0.12 zone. Here is where a double bottom might be triggered with a close above $0.12.
Inca One Gold (INCA.V)
Market Cap ~ $8.1 million
Inca One Gold Corp. engages in the business of operating and developing of gold-bearing mineral processing operations in Peru. It owned two gold milling facilities, which includes Chala One and Kori One located in Peru.
The stock is up 36% on no news.
The stock is showing the skeleton of an inverse head and shoulders pattern. It may no be pretty, nor textbook, but the structure is all that matters. We could be getting a break and close above $0.14 by the end of the day to trigger the pattern.
Renegade Gold (RAGE.V)
Market Cap ~ $8.9 million
Renegade Gold Inc. engages in the acquisition, exploration, and development of mineral properties primarily located in the Red Lake mining district of northern Ontario. It explores for gold, copper, zinc, and silver deposits.
The stock is up 33% on no news.
Very nice price action today and the stock is on track to test the key $0.50 resistance zone. A close above this triggers a major breakout.
Dryden Gold (DRY.V)
Market Cap ~ $14 million
Dryden Gold controls a 100% interest in a dominant strategic land position in the Dryden District of Northwestern Ontario. Dryden Gold acknowledges all Indigenous Peoples and that it is operating on the traditional homelands of the Wabigoon Lake Ojibway Nation and Eagle Lake First Nation. Dryden Gold’s property package includes historic gold mines but has seen limited modern exploration. The property hosts high-grade gold mineralization over 50km of potential strike length along the Manitou-Dinorwic deformation zone. The property has excellent infrastructure, enjoys First Nations support and proximity to an experienced mining workforce.
The stock is up 17% on no news.
The stock is breaking out above the $0.14 zone and we could be at the beginning stages of a stock reversal. Watch for the daily close confirmation.
Top 5 Losers
Antibe Therapeutics (ATE.TO)
Market Cap ~ $10 million
Antibe Therapeutics Inc., a biotechnology company, engages in developing novel therapeutics and medical devices in the areas of pain, inflammation and regenerative medicine in Canada, Europe, the United States, and internationally. The company’s pipeline includes therapies that seek to overcome the gastrointestinal (GI) ulcers and bleeding associated with nonsteroidal anti-inflammatory drugs (NSAIDs). Its lead compound is Otenaproxesul, an NSAID that releases hydrogen sulfide for treating post-operative pain, migraine, acute musculoskeletal pain, dysmenorrhea, gout, and dental pain. In addition, its products comprise ATB-352, which is in preclinical stage for acute pain.
The stock is down 57% on news the FDA has placed otenaproxesul on clinical hold.
A major gap down and the stock will have to make it up to turn things around. Comes after some negative news, which will likely prevent any big bounce anytime soon.
CanadaBis Capital (CANB.V)
Market Cap ~ $15 million
CanadaBis Capital Inc. engages in the production and sale of recreational cannabis and cannabis extracts in Canada. It operates through three segments: Cultivation and Wholesale, Retail, and Extract. The Cultivation and Wholesale segment cultivates and distributes cannabis and cannabis products to and through, provincial liquor and cannabis boards. The Retail segment sells cannabis and cannabis related products to end consumers on premise owned and operated by the company.
The stock is down 50% on no news.
We have a bit of a pattern triggered with a major gap down. There is some support here at $0.10 but the stock has a lot to do to attempt to recover above $0.20.
Delta 9 Cannabis (DN.TO)
Market Cap ~ $8.3 million
Delta 9 Cannabis Inc., together with its subsidiaries, operates as an integrated cannabis company. The company engages in the cultivation, processing, extraction, wholesale distribution, retail, and sale of medical and recreational cannabis products. Its products include dried cannabis flowers, pre-rolls, and dried sift cannabis, as well as oils, and extracted and derivative products. The company also offers grow pods and live plants to other licensed and pre-licensed companies. In addition, it operates as a medical clinic that provides physician consultation services to patients seeking a medical recommendation for a cannabis prescription.
The stock is down 20% on reporting year end financials for 2023.
The stock did gap up and close above the range above $0.03. We have another range forming and investors are waiting for the break above $0.05. Remember, a candle close on the daily chart is the trigger.
Plurilock Security (PLUR.V)
Market Cap ~ $2.6 million
Plurilock Security Inc. operates an identity-centric cybersecurity company in the United States and Canada. The company operates in two divisions, Technology and Solutions. It offers Plurilock DEFEND, an enterprise continuous authentication platform that confirms user identity or alerts security teams to detected intrusions in real time; and Plurilock ADAPT, a standards-based login MFA platform, which provides added login security without relying on fingerprint scans, SMS codes, authenticator apps, hardware tokens, or other intrusive legacy MFA requirements.
The stock is down 16% on news of the appointment of a new executive chair and the beginning of a business transformation plan.
New record lows for the stock and it is puking. Currently, it is like catching a falling knife. Bottom pickers should wait for signs of selling exhaustion.
PharmaTher Holdings (PHRM.CN)
Market Cap ~ $29 million
PharmaTher Holdings Ltd., a specialty pharmaceutical company, develops and commercialize specialty pharmaceuticals exhibiting the adoption and permitting novel delivery methods to enhance patient outcomes. The company’s product pipeline includes KETARX, a hydrochloride injection for the treatment of Parkinson’s disease, Amyotrophic Lateral Sclerosis, complex regional pain and Rett syndrome, and anesthesia and procedural sedation, as well as Ischemia reperfusion injury. It also develops KETARX, a microneedle patch, for mental health, neurological, and pain disorders; and KETARX On-body pump for the maintenance of general anesthesia for diagnostic and surgical procedures. In addition, the company offers PHARMAPATCH, a microneedle patch technology solution, which includes hydrogel-forming and gelatin methacryloyl delivery system for the treatment of psychedelics and infectious diseases.
The stock is down 15% on no news.
The stock is retracing in an uptrend. This is corrective and likely just some profit taking. If the stock closes below $0.30, we would see some further retracement.
