Winners and Losers: Few SA firms survive disaster week for ASX
It was a bloodbath for Australia’s top ASX companies last week, but some SA-based firms rallied, particularly tech and mining firms.
Australian shares fell for four straight days to end the week down nearly three per cent – its worst week since the onset of the Middle East conflict in March.
But some South Australian ASX-listed companies avoided the bloodbath – one in particular rising by 52.94 per cent over the trading week.
That company was Iondrive – which uses in-house technology to extract critical minerals from electronic waste.
The company hit five-year highs after announcing some positive new findings about how its tech works with end-of-life permanent magnets.
Biotech company Clever Culture Systems also surged after announcing a new contract with pharmaceutical giant Novo Nordisk.
Resolution Minerals, Elixir Energy and H3 Energy were the other Winners from the week.
But just 20 of the 60 companies this column tracks enjoyed upward momentum in their stock prices last week.
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The majority of SA-based listed companies saw declines, with mining exploration company Marmota seeing the biggest drop: 14.58 per cent.
The full list of Winners and Losers for the week ending September 11:
Data via Baker Young Limited analysts.
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