Tesla has secured an order of 100,000 cars from Hertz, boosting Tesla to a US$1 trillion company and Hertz by 10%. (Image via Getty)
ASX Small Cap Lunch Wrap: Who’s benefited from Elon’s US$250 billion touch this morning?
News
share
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]:
Swipe or scroll to reveal full table. Click headings to sort:
Stocks highlighted in yellow made market-sensitive announcements
| Code | Name | Price | % Change | Volume |
|---|---|---|---|---|
| KOR | Korab Resources | 0.05 | 85 | 8504538 |
| BCT | Bluechiip Limited | 0.049 | 63 | 54301521 |
| ANL | Amani Gold Ltd | 0.0025 | 25 | 16582728 |
| LMG | Latrobe Magnesium | 0.043 | 30 | 72310932 |
| ERM | Emmerson Resources | 0.089 | 25 | 7115166 |
| BXN | Bioxyne Ltd | 0.035 | 25 | 371558 |
| MGL | Magontec Limited | 0.39 | 22 | 95584 |
| PVW | PVW Res Ltd | 0.535 | 20 | 790496 |
| AGR | Aguia Res Ltd | 0.06 | 20 | 1789495 |
| KCN | Kingsgate Consolid. | 1.915 | 17 | 1844636 |
| PRS | Prospech Limited | 0.09 | 17 | 127000 |
| TNG | TNG Limited | 0.145 | 16 | 3813152 |
| LPD | Lepidico Ltd | 0.03 | 15 | 70004506 |
| GEV | Global Ene Ven Ltd | 0.125 | 14 | 8909305 |
| NMT | Neometals Ltd | 1.005 | 14 | 4179067 |
| PTG | Proptech Group | 0.675 | 13 | 92538 |
| A8G | Australasian Gold | 0.64 | 13 | 545615 |
| CHL | Camplifyholdings | 4.84 | 14 | 249000 |
| EM1 | Emerge Gaming Ltd | 0.026 | 13 | 7382431 |
| IKW | Ikwezi Mining Ltd | 0.87 | 13 | 9586 |
| FCT | Firstwave Cloud Tech | 0.105 | 13 | 1942215 |
| NYR | Nyrada Inc. | 0.265 | 13 | 468222 |
| RXM | Rex Minerals Limited | 0.265 | 13 | 1916890 |
| A3D | Aurora Labs Limited | 0.135 | 13 | 480171 |
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
| Code | Name | Price | % Change | Volume |
|---|---|---|---|---|
| PCL | Pancontinental Energ | 0.001 | -33 | 606634 |
| NPM | Newpeak Metals | 0.0015 | -25 | 6201000 |
| CCE | Carnegie Cln Energy | 0.002 | -20 | 5326623 |
| TSC | Twenty Seven Co. Ltd | 0.005 | -17 | 1054858 |
| MTB | Mount Burgess Mining | 0.006 | -14 | 115000 |
| MEB | Medibio Limited | 0.007 | -13 | 4251322 |
| PVE | Po Valley Energy Ltd | 0.028 | -13 | 950000 |
| QXR | Qx Resources Limited | 0.024 | -11 | 14745236 |
| GNM | Great Northern | 0.008 | -11 | 4500000 |
| LCT | Living Cell Tech. | 0.008 | -11 | 2702559 |
| AMT | Allegra Orthopaedics | 0.205 | -11 | 15035 |
| FGL | Frugl Group Limited | 0.033 | -11 | 562616 |
| AXP | AXP Energy Ltd | 0.0125 | -11 | 15625042 |
| LSR | Lodestar Minerals | 0.009 | -10 | 1144200 |
| RMX | Red Mount Min Ltd | 0.009 | -10 | 127251 |
| SIH | Sihayo Gold Limited | 0.009 | -10 | 6922481 |
| FMS | Flinders Mines Ltd | 0.79 | -9 | 4015 |
| AO1 | Assetowl Limited | 0.005 | -9 | 1031 |
| BGT | Bio-Gene Technology | 0.2 | -9 | 1648294 |
| ITM | Itech Minerals Ltd | 0.31 | -9 | 1224347 |
| WFL | Wellfully Limited | 0.105 | -9 | 1321877 |
| FLN | Freelancer Ltd | 0.715 | -8 | 337992 |
| NZS | New Zealand Coastal | 0.011 | -8 | 2119732 |
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.
