S&P/ASX 200 trending higher – rise of the microcap?
Wednesday, 15 May 2019 S&P/ASX 200 (INDEXASX:XJO) is trading near its intra-day high, up 0.64% or 39.7 points higher to 6279.6 points at 1.27pm. Both the S&P 500 Index (INDEXSP:.INX) and the Nasdaq Composite (INDEXNASDAQ:.IXIC) found reason to rally last night as Trump calmed fears around US-China trade negotiations. While larger ASX companies continue their trading updates headed into the end of the June half, a number of microcaps have recorded double and even triple digit percentage moves. Today’s mover is Crowd Media Ltd (ASX:CM8), up 152% at 1.30pm to 4.3 cents with over $1.6 million worth of shares changing hands. Yojee Ltd (ASX:YOJ) is another worthy mention, up 41% to 11 cents on $1.4 million volume. Both stocks trading was driven by news with Crowd Media confirming it executed new digital marketing deals pre-market and Yojee signing a SaaS agreement with a global top-10 logistics company. Yojee shares were in a trading halt from yesterday and commenced trading at 11.34am. [VIDEO] Mid-Session: The ASX 200 has posted solid gains in early trade on Wednesday following several days of turmoil for global markets. Technology and energy names are the most improved, while property stocks are the only decliners. https://t.co/4i2zO9d1Fh #ausbiz — CommSec (@CommSec) May 15, 2019