Hecla stock drops after Lucky Friday mine collapse
Hecla Mining stock dropped just over 9% in Monday’s trade as it warned that a collapsed shaft at the Lucky Friday mine, in Idaho, will dent production volumes and trigger higher mining costs.
The company said that the incident took place at a depth of 500 feet and there were no personel in the mine at the time.
In New York, the stock was down was down 43 cents or 9.39% changing hands at US$4.15.
Willow surges as it teams up with ‘Nasdaq biopharma’
Canadian small-cap Willow Biosciences Inc (TSX:WLLW, OTCQB:CANSF) saw its stock surged 23%, trading at 8 cents, after announcing a collaboration is underway with an unnamed (under confidentiality) “forward thinking” Nasdaq-listed biopharma company, exploring ‘new sustainable manufacturing routes for active pharmaceutical ingredients’. Read more
AI surveillance deal sparks Gorilla rally
Gorilla Technology Group Inc was up 13% on news that it has secured a US$20 million contract for the AI-powered specializing firm in a 5G surveillance and network security project in Taiwan – which it says will focus on “enhancing criminal investigations for a major law enforcement agency”. Read more
The stock was trading at US$1.73, valuing the company above US$116 million.
Lowly raise sees metaverse small-cap plummet
Super League Gaming (NASDAQ:SLGG), described as a ‘metaverse gaming platform’, saw its share price collapse in Monday’s deals as the company gave details of a discounted and dilutive equity raise which will deliver US$2.2 million of new capital.
In a brief statement it confirmed that 16.9 million new shares, plus accompanying warrants, will be sold to investors at 13 cents apiece – some 45% below Friday’s closing price of 23.9 cents.
It marks a new low for the ‘metaverse’ and eSports early mover which floated at US$11.000 per share raising US$25 million and set a public valuation just below $100 million. Read more
Early movers: Palo Alto, XPeng, NAPCO Security, Nikola, Earthstone
Palo Alto Networks Inc (NYSE:PANW) (Palo Alto Networks Inc (NYSE:PANW)) (Palo Alto Networks Inc (NYSE:PANW) (Palo Alto Networks Inc (NYSE:PANW))) stock is the week’s early mover, with a strong relief rally following Friday’s oddly timed but not bad earnings release. Today the stock is up 16% trading at just over US$243. Read more
Xpeng Inc (NYSE:XPEV) (Xpeng Inc (NYSE:XPEV)) (Xpeng Inc (NYSE:XPEV) (Xpeng Inc (NYSE:XPEV))) stock is in recovery mode, helped by an analyst upgrade, following last week’s downbeat earnings report – which on Thursday showed a wider-than-expected net loss for its second quarter. Today, it is up 10% in midday trade, changing hands at US$16.48 per share.Read more
It is looking like a horror show for investors in Amityville-headquartered NAPCO Security Technologies (NAPCO Security Technologies Inc (NASDAQ:NSSC)) as its stock fell nearly 42%, at US$22.33, in Monday’s premarket deals after warning late on Friday that it had identified errors in past financial statements. Read more
Nikola dropped more than 21% in Monday’s early deals, to US$1.54, after the EV firm revealed a US$325 million bond deal that threatens an ‘overhang’ in stock as well as future dilution as debt is swapped for equity. Read more
Earthstone Energy Inc (NYSE:ESTE) stock jumped 13% higher, to US$18.35, after news of its premium-priced, US$4.5 billion takeover by US shale peer Permian Resources (NYSE:PR), down 0.16% at US$12.88. Read more