With more than seven million users on the HotCopper forums, every discussion and speculation can move Australian markets – which is why getting out in front of those trends is so important for any trader worth their salt.
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In the HotCopper Trends column, we break down the top three stocks talked about on any given trade day, and why they’ve drawn attention from users.
Today, on August 19, the clear forum topper is Strike Energy (ASX:STX); no great surprise here, considering just how subscribed the stock is. Red-hot trends today have come after the gas explorer admitted it has to buy gas.
The why: Strike has to cover shortfalls at Walyering brought on by supply commitments falling through in FY25. Traders sold on the news; STX dropped -12.5%.
(Strike will always top-trend on interesting news, considering it was 2024’s trends leader.)
Also trending today is Melbana Energy (ASX:MAY), thanks to a Tuesday halt.
The company has yet to formally confirm why it pulled the brakes – or when it will be back trading again – but HotCopper understands it’s preparing for a cap raise. The $74M producer sold at 2.2cps before the pause.
And finally, Oz bourse heavyweight CSL Ltd (ASX:CSL) has drawn discussion after its FY25 miss, which I covered in a lot more detail this morning.
CSL shares have been selling at $231.07 today, down a hefty -14.9%.
As for the ASX 200 at large: It’s been dragged down in earnings, losing -0.7%.
That’s Tuesday’s Market Trends, I’m Isaac McIntyre – see you for HotCopper’s Market Close.
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