X2M.AX down 30.00% pre-market on ASX: top loser and short-term outlook

X2M.AX stock opened sharply lower pre-market after the price dropped to A$0.007, down 30.00% from the prior close of A$0.01. The move makes X2M Connect Limited (X2M.AX) one of the top losers on the ASX today as volume surged to 6,093,766 shares versus an average of 1,625,851. Traders are pricing heightened short-term risk for this small-cap IoT provider in Australia while analysts watch quarterly metrics and the March earnings date closely.