Good Afternoon and welcome to HotCopper Highlights for Week 27, I’m Jon Davidson. In this segment, the stocks you were watching and discussing the most this week, let’s get into it starting with the most viewed.
Qantas attracted a lot of attention when it revealed a cyber attack believed to have compromised the data of six million customers. While the sell-off wasn’t as punishing as that for Medibank – or evident at all, really, with 1 week gains up nearly 2% – the company remains in damage control.
Speaking of damage control, and a warning this next segment isn’t very happy: G8 Education tanked -20% this week after 2 sexual assault arrests were made of staffers at childcare assets the company owns after it was revealed some 1200 children were recommended to be tested for STIs.
Elsewhere, new IPO entrant Gemlife has been closely watched this week as the year’s biggest listing so far, with the company leveraging the ASX’s new fast track rules. However, despite a decent Thursday debut, on Friday shares sold off to around the initial asking price of $4.16/sh.
So that was the most viewed – but what about the most discussed?
Mineral Resources was among the most discussed, but it wasn’t the usual fare that HotCopper generates for its most darling stocks. This week, the market is wondering if it’s time for Commonwealth’s bull run to finish; many expect a widespread rotation into materials. While BHP remains the key focus, MinRes isn’t far off. Of course, the health of China’s economy will determine the strength of that rotation.
Domino’s, meanwhile, was slaughtered once again as the Group CEO exited the company, the third key CEO to do so in the space of around a year. The company remains troubled in Europe and Asia, and with captains jumping ship in recent history, the market’s getting nervous. Some analysts call the stock undervalued, but nobody’s buying it.
Finally, MTM Critical Metals, another market darling and arguably the current favourite, generated chatter on two fronts – first, changing its name to Metallium Ltd, and then secondly, with its news on Friday it would be listing on the US Over The Counter markets. Make of that what you will; the company has also apparently swapped its focus from gold e-waste recovery to rare earths, seemingly overnight.
That’s HotCopper Highlights for this week, I’m Jon Davidson, have a fantastic weekend, we’ll see you on Monday.
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