Uranium stocks get whacked as tech wobble continues. Pic: Getty Images

Wall Street tech fear spreads as ASX flinches
Uranium stocks get whacked on cooling AI
Neuren Pharmaceuticals dives despite good FDA feedback

 

By Thursday lunch in Sydney, the ASX 200 was already on the back foot, down 0.15%.

Wall Street had set the tone overnight, with tech back in the firing line. The fear, in particular, has crept into software stocks.

This wasn’t sparked by some ugly earnings miss.

It came after Anthropic rolled out a new AI-driven legal tool, and suddenly the market started acting like the software industry had just been put on notice.

The logic goes that if AI automates workflows, software vendors lose pricing power.

 

Back home, healthcare and retailers were the early bright spots.

Healthcare gets the nod whenever markets feel uneasy, because people don’t cancel medical treatment when tech stocks wobble.

Miners, meanwhile, were on the back foot. Part of this is likely just profit taking after a strong run.

But uranium names, in particular, got whacked while confidence in the AI boom took a dent after chipmaker AMD’s outlook failed to live up to lofty hopes.

That disappointment then rippled into uranium because nuclear has been sold as the long-term power source for power-hungry AI data centres.

Paladin Energy (ASX:PDN) was down 6%, Deep Yellow (ASX:DYL) by 4%.

Gold names also took a breather as bullion dipped back below US$5,000 an ounce.

 

Source: Market Index

 

In the large caps space, Beach Energy (ASX:BPT) slipped after posting an 8% dip in net profit before one-offs, thanks to lower production after flooding in its Cooper Basin heartland.

JB HiFi (ASX:JBH) rolled out Australia’s first consumer electronics retail media network with Retail MediaWorks. It sounds niche, but retail media is now a roughly $2 billion category.

Neuren Pharmaceuticals (ASX:NEU) dived more than 7% despite receiving broadly supportive feedback from the FDA and the US Congress reauthorising the Rare Paediatric Disease Priority Review Voucher program through to 2029.

Neuren also said it’s about to share fresh results from a major late-stage trial for Phelan-McDermid Syndrome, which is the next big catalyst investors are watching.

On paper, that’s bullish. But in practice, stocks trade on whether the news beats the hype that’s already priced in.

 

ASX LEADERS

Today’s best performing stocks (including small caps) intraday:

Security Description Last % Volume MktCap KLV Klevo Rewards Ltd 0.026 30% 8,050,155 $30,719,299 EPN Epsilon Healthcare 0.038 27% 433,066 $11,373,120 IMI Infinitymining 0.012 26% 15,480,442 $5,081,532 RHY Rhythm Biosciences 0.220 26% 2,578,693 $57,236,973 ABR Albrightmetals Ltd 0.005 25% 2,390,434 $5,942,663 BP8 Bph Global Ltd 0.003 25% 28,144,086 $3,706,969 CHM Chimeric Therapeutic 0.003 25% 116,833 $8,837,407 ROG Red Sky Energy. 0.003 25% 3,952,089 $10,844,454 CDR Codrus Minerals Ltd 0.031 24% 1,842,158 $5,168,359 1AI Algorae Pharma 0.024 20% 788,975 $33,776,169 BUY Bounty Oil & Gas NL 0.003 20% 619,000 $3,904,002 SNX Sierra Nevada Gold 0.057 19% 8,949,354 $23,375,041 LMS Litchfield Minerals 0.825 19% 1,865,172 $39,891,999 FIN FIN Resources Ltd 0.013 18% 1,999,920 $11,620,734 LSR Lodestar Minerals 0.013 18% 2,058,182 $12,636,276 AVE Avecho Biotech Ltd 0.011 17% 1,663,952 $33,061,173 BPH BPH Energy Ltd 0.011 17% 2,494,989 $12,184,640 BIT Biotron Limited 0.004 17% 1,771,739 $8,105,598 IPB IPB Petroleum Ltd 0.007 17% 1,202,890 $5,118,023 SPX Spenda Limited 0.004 17% 7,228,445 $16,254,775 TEE Topendenergylimited 0.036 16% 1,970,182 $8,670,497 JNS Januselectricholding 0.145 16% 185,214 $12,065,537 MVL Marvel Gold Limited 0.022 16% 17,755,701 $26,969,722 T88 Taitonresources 0.150 15% 6,631 $14,477,499 WordPress Table

 

Klevo Rewards (ASX:KLV) has turned Fly Wallet into a live Mastercard rewards card and digital wallet platform it owns and operates end-to-end.

Epsilon Healthcare (ASX:EPN) has signed a 3-year manufacturing deal with New Zealand’s largest medicinal cannabis producer, Puro, to make EU GMP-certified products for export to the UK from Q1 2026.

With Europe to follow,the company is guiding to around $6 million in manufacturing revenue over the initial term.

BPH Global (ASX:BP8) has raised $1m at market price to scale its revenue-generating Indonesian seaweed platform, after delivering record monthly sales and its second-best month since launching trading in May 2025.

The cash lets it immediately lift volumes and exports from its licensed Makassar operation, while also funding R&D to move into higher-margin products.

Litchfield Minerals (ASX:LMS) has hit thick, continuous copper and zinc mineralisation from near surface at Oonagalabi, including a standout 161-metre zone with multiple higher-grade sections, confirming the system is large and consistent rather than patchy.

The drilling shows the mineralisation runs both sideways and deeper, is still open in multiple directions.

 

ASX LAGGARDS

Today’s worst performing stocks (including small caps) intraday:

Security Description Last % Volume MktCap RRE Right Resources 0.175 -49% 3,375,710 $30,625,885 ADS Adslot Ltd. 0.001 -33% 2,021 $8,791,084 TEM Tempest Minerals 0.006 -25% 755,608 $8,815,010 MGH Maas Group Holdings 4.330 -23% 2,928,414 $2,037,253,198 M79 Mammothmineralsltd 0.089 -23% 3,045,622 $64,274,992 PUR Pursuit Minerals 0.110 -21% 1,644,643 $26,334,089 AUK Aumake Limited 0.002 -20% 10,967 $9,619,647 SER Strategic Energy 0.008 -17% 3,690,680 $10,025,400 TEG Triangle Energy Ltd 0.003 -17% 1,378,084 $6,668,834 APC APC Minerals 0.011 -15% 1,444,124 $9,543,636 DTZ Dotz Nano Ltd 0.034 -15% 597,997 $27,723,964 SRL Sunrise 9.640 -15% 429,953 $1,621,055,378 ENV Enova Mining Limited 0.006 -14% 55,978 $11,053,200 PGY Pilot Energy Ltd 0.003 -14% 2,110,490 $9,444,138 PR2 Piche Resources 0.120 -14% 368,142 $13,515,521 SIS Simble Solutions 0.006 -14% 71,500 $8,948,312 KNB Koonenberrygold 0.031 -14% 13,971,998 $36,988,560 TGN Tungsten Min NL 0.280 -14% 4,637,162 $363,152,672 AZI Altamin Limited 0.025 -14% 263,859 $22,979,158 YUG Yugo Metals Ltd 0.045 -13% 28,000 $16,669,334 ELS Elsight Ltd 4.020 -13% 884,842 $1,015,537,672 KLR Kaili Resources Ltd 0.135 -13% 35,662 $22,847,056 AJX Alexium Int Group 0.007 -13% 99,750 $25,022,280 WordPress Table

 

IN CASE YOU MISSED IT

Black Rock Mining (ASX:BKT) has awarded the bulk earthworks contract for its Mahenge graphite project in Tanzania, to the tune of US$11m.

Red Mountain Mining (ASX:RMX) has acquired the historical Thompson Falls high-grade antimony project, adjacent to the only operating smelter in the US.

Koonenberry Gold (ASX:KNB) has extended the mineralised zone at the Sunnyside prospect of its Enmore gold project in NSW.

Micro-X (ASX:MX1) has started activation at its first hospital trial site, the Royal Melbourne Hospital, for its portable Head CT scanner designed to rapidly detect stroke.

 

LAST ORDERS

Cynata Therapeutics (ASX:CYP) will present on its Cymerus iPSC-derived MSC technology today at the 2026 Euroz Hartleys Healthcare Forum.

Cymerus is a cell-therapy production platform designed to overcome the limitations of commercially scaling cell therapies with conventional methods.

The presentation will take place today, Thursday February 5, at 8:50am AWST (11:50am AEDT).

European Lithium (ASX:EUR) has offloaded about 2.5 million shares in Critical Minerals Corp for about $45 million, increasing its cash reserve to $356 million.

EUR now holds just over 45.5 million shares in Critical Minerals Corp, worth just over US$689.4 million based on the company’s last closing price.

 

At Stockhead, we tell it like it is. While Cynata Therapeutics and European Lithium are Stockhead advertisers, they did not sponsor this article. 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.