Local tech stocks were buoyed by Nasdaq’s rise of 1% overnight, following Tesla’s 12% rise as it joined Apple, Google, Facebook in becoming a trillion dollar company.

Tech favourites like Afterpay (ASX:APT) rose by 3%, but the most scruitinised stock today was Crown Resorts (ASX:CWN).

Crown shares rose by 8%, after the casino escaped having its Victorian license revoked despite the Commission finding the it to be ‘unfit’ to operate a business in the State.

Crown was given 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.

The other listed casino operator, Star Entertainment (ASX:SGR), also rose by 4.5% on the news.

 

BIG CAP WINNERS

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Dicker Data (ASX:DDR) was the best performing large stock today, rising by 13% after the company’s profit before tax rose by 26% (on pcp) in Q3 to $76.6m.

Dicker’s total year-to-date revenue to September is now $1.72bn, despite ongoing supply constraints being experienced throughout the year.

The company is headed by eccentric CEO and founder, David Dicker, who cashed in $42m of his shares last month, and made an announcement to the ASX about what he will spend the money on.

Pilbara Minerals (ASX:PLS) was up almost 7% today, after finalising its joint venture (JV) with South Korean giant, Posco.

The finalised agreement will pave the way for the development of a 43ktpa jointy-owned lithium hydroxide conversion facility Gwangyang, South Korea.

Pilbara Minerals will initially hold an 18% interest in the JV, funded largely from the previously announced $79.6m convertible bond agreement with Posco.

Ultrasound specialist Nanosonics (ASX:NAN) is up 9% on no news.

BIG CAP LOSERS

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Iron ore and lithium miner, Mineral Resources (ASX:MIN), is down 7% after announcing that its average realised iron ore price for the quarter was just US$78.32 per tonne — a huge discount to current benchmark prices.

Freelancer (ASX:FLN)’s Q3 gross merchant value was down 6.2% on pcp, due to seasonality factors and post-lockdown activities by people in the northern hemisphere.

As a result, FLN reported an operating cash loss of $US1.6 million for the quarter.

Asset manager GQG Partners (ASX:GQG) made its ASX debut today at $2, and rose by as much as 6.5% to $2.13, before closing at $1.95.

The fund manager had raised $1.2bn in the IPO for a market cap of around $6bn.