This year, Tesla founder Elon Musk has been both nemesis and godsend to Bitcoin, Dogecoin and Shiba Inu investors, but today he did a favour to Hertz investors – and it paid off for him too.

Overnight, Tesla secured its largest ever order for EVs from the rental car giant. Hertz will buy 100,000 Teslas to use in its fleet in a deal worth more US$4 billion – based on the typical price for a Tesla in the US.

The gain made Tesla a US$1 trillion company and Musk the richest man to ever walk the planet, worth an estimated $US250 billion. But it also boosted Hertz shares too – by 10%.

(Possibly related – ASX lithium stocks are having a day out.)

The car rental industry can be frustrating to deal with and there can be little to no difference between outlets. But finding out you’ve got a Tesla could make up for the long queues and substantial paperwork.

To markets, where the ASX is up again today, although only slightly – by 0.14% as at 11.45am.

The most scruitinised stock this morning was Crown (ASX:CWN) in the wash-up of the Victorian government’s royal commission into it.

Despite the report finding the casino’s conduct “disgraceful”, it recommended a two-year grace period under the control of a “special manager” who will then make a formal recommendation to the regulator as to whether or not it should keep its licence.

Its shares rallied this morning.

 

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for Tuesday October 26 [intraday]:

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Stocks highlighted in yellow made market-sensitive announcements

Bluechiip (ASX:BCT), a company developing a tracking technology designed for medical samples stored at sub-zero temperatures, signed a licence and development agreement with Fujifilm Irvine Scientific.

In resources, Korab Resources (ASX:KOR) rose despite not having any news leading to trading being paused. Emmerson Resources (ASX:ERM) meanwhile did have news – in the form of visible copper intersections at its Tennant Creek project.

Camplify (ASX:CHL), a campervan and motorhome sharing community which has more than tripled since listing in June, announced a $7m+ acquisition deal. It is buying the Mighway and SHAREaCAMPER businesses and assets in Australia and New Zealand.

 

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for Tuesday October 26 [intraday]:

Swipe or scroll to reveal full table. Click headings to sort:

Stocks highlighted in yellow made market-sensitive announcements

Medibio (ASX:MEB) fell after updating shareholders on its path to get FDA approval for its technology used to diagnose sleep disorders, announcing it was pivoting to another pathway to regulatory clearance.

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