Good Afternoon and welcome to the weekly HotCopper Highlights wrap for Week 10, I’m Jonathon Davidson. Let’s get into it.
With the Mag7 in correction per Bloomberg’s calculations and the XJO below 8,000pts, it’s fair to say this week has perhaps been a bit bad news heavy.
Investors have been closely watching Mineral Resources which is currently at a five year low, compounded by ongoing financial troubles and the fact iron ore prices dipped below USD$100/tn. Many HotCopper users an undervalued stock ready to stage a combat, where others see a stock that might have been overvalued during the COVID years. Time will tell.
Elsewhere, eyes were close on Star Entertainment’s Friday news it hasn’t yet reached an agreement with two Asian entities ready to inject $50M into its books in return for a 50% stake in Star’s Queen’s Wharf project – a new entertainment precinct for Brisbane – which currently has Star looking at debts of $1.6B. As it currently stands, the group mightn’t have the cash to survive until its casino licence is next reviewed.
Finally, retirement portfolio and safe haven stalwart Commonwealth Bank has been closely watched as it staged a -5% loss throughout the week, now down -8% over the last month. Like the Mag 7 over on Wall Street, analysts have long queried why exactly CBA continues to rally on no revenue growth. As above so below, it looks like now we’re paying for hyperconcentration on the ASX, too.
And as for the most discussed?
Mesoblast is on the tip of the tongue for many users, unfortunately, they’re trying to figure out whether or not to sell. The biotech’s ripper run of late is starting to teeter, and that’s bleeding into the sentiment around other biotech darlings running hard since last year.
Meanwhile Melbana Energy still remains a forum favourite as the punters and the experts work together to ascertain what the most likely outcomes of a shift to WA from Cuba will be after years of hard work for little gain in that latter nation.
Finally, Wall Street itself was much discussed this week in a popular thread called “NASDAQ Hot,” since that thread was created in 2023, it’s been a forum favourite – but lately, users are more focused on the absolute trainwreck we’ve seen overseas and at home as the world continues to ascertain whether or not Donald Trump has a plan or if he’s just having fun.
That’s HotCopper Highlights for this week, I’m Jonathon Davidson, have a great weekend and we’ll see you on Monday.