The TSX Venture declined for its seventh consecutive day Thursday. TSX Venture investing has never been for the faint of heart; however, the seasonal swings on this exchange can make even an industry pro cringe. Investors are continuing to bail on junior gold stocks.
The mining sector represents about 60% of the issuers on Canada’s junior index. After dropping 4.34% yesterday, the GDXJ or VanEck Vectors Junior Gold Miners gave up 0.4% today to close at $32.72. Seems like, the trend in this junior gold mining ETF has been established; its shares touched $52.50 in late summer of 2016 and continue to fade. One Pinnacle member found success Thursday after Acerus Pharmaceuticals surged 22%.
Acerus Pharmaceuticals Tops Stocks Thursday
Acerus Pharmaceuticals (ASP: TSX) gapped up 22.73% to close at $0.135 per share Thursday. The junior put up its biggest total volume day in six months, trading 1.3 million shares. Acerus has a market cap of approximately $28 million and is a Canadian specialty pharmaceutical company. The small-cap firm is engaged in the development and distribution of innovative, branded products in Men’s and Women’s Health.
Exclusive right to market NATESTO® Granted
Acerus Pharmaceuticals rallied Thursday because of an aftermarket news release Wednesday. The news detailed Acerus’s signing of an agreement granting medac Gesellschaft für klinische Spezialpräparate mbH the exclusive right to market NATESTO® in 15 European countries. Also, this is enormous edification for a small company like Acerus. medac is a German pharmaceutical company with business in 80 countries and more than 1,200 employees worldwide.
In Acerus’ latest press release, Tom Rossi, President and Chief Executive Officer of Acerus, explained,
“Their extensive reach and commercial expertise within the speciality pharmaceutical sector will be a key advantage as we aim to maximize the full potential of NATESTO®. This agreement represents a significant milestone for Acerus as we continue to execute on our strategy of expanding the brand’s reach on a global scale.”
Djoka111 Surges in June Stock Challenge
Ontario native ‘Djoka111‘ selected Acerus for June’s Stock Challenge. He outperformed every member Thursday, putting up a 11.98% combined average return. Consequently, his other selection of Breaking Data inched up 1.23% Thursday. On June 5th, Breaking Data announced that GIVEMESPORT and NFL UK would develop an original content series themed around attempts at Guinness World Records. Breaking Data’s market cap improved to approximately $45 million Thursday.
Breaking Data and Acerus are both based in Ontario, the same province member ‘Djoka111’ calls home.
The move in Acerus Thursday propelled member ‘Djoka111’ into 18th overall with a 7.20%. Returns in June have fallen as the TSX Venture falls further below 800. In conclusion, despite the weak seasonality of the TSX Venture, members like Djoka111 are putting up solid returns.
