ASX Small Cap Lunch Wrap: Who wasn’t invited to the party today?
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The White House is planning to hold an electric vehicles (EV) event with President Joe Biden this coming Thursday.
The invite list includes the usual suspects: General Motors, Ford, Chrysler…
But oddly, Tesla wasn’t on the list.
It’s even stranger considering that Stellantis (the parent company of Chrysler) is not even an American company (it’s Dutch).
Analysts are still dumbfounded, including Elon himself.
Yeah, seems odd that Tesla wasn’t invited
— Elon Musk (@elonmusk) August 5, 2021
To the ASX….
Miners were the main drag on the ASX 200 today, as as the iron ore price fell on Chinese domestic consumption concerns.
The ferrous metal fell as much as 5.6% on the Dalian Commoditive Exchange to US$154.54, the lowest since May.
Despite the sentiment, the broader index ended flat going into lunch break, with Tech stocks the best performing sector, rising by 1.8%.
Afterpay (ASX:APT) was the best stock in Tech today, rising by 5% on no news.
APT investors are still mulling whether to sell or keep the stock, after the acquisition announcement by Square on Monday.
Here are the best performing ASX small cap stocks in morning trade for Friday, August 6:
Swipe or scroll to reveal the full table. Click headings to sort.
Hot Chilli (ASX:HCH) gained 17% this morning after announcing a $40m capital raising to acquire the ramaining 15% stake in the company’s world- class Cortadera copper-gold discovery in Chile. The capital raise was cornerstoned by an investment from Glencore, which will now own 9.99% stake in HCH.
Lifesciences company AnteoTech (ASX:ADO) rose by 14.5% after signing a Philippines distribution deal with UC Biosciences. UC will now become the exclusive seller of the EuGeni SARS-CoV-2 Antigen reader platform in the country.
Apiam Animal Health (ASX:AHX) rose by 1.7% after announcing a plan to acquire the Golden Plains Group, which will bolster its presence in the fast growing Greater Geelong region.
Scroll or swipe to reveal table. Click headings to sort.