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S&P/ASX 200 trending higher – rise of the microcap?

S&P 500 Index finished up 0.8% and the Nasdaq Composite finished up 1.14% last night.

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Two more microcaps have sprouted today with CM8 up 150% and YOJ up 40%

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.

 

 

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