Bloomberg says Tesla is in a ‘code red situation’ as the carmaker’s share price falls below the $US200 level for the first time since December 2016.

To be fair, pundits have (unsuccessfully) predicted Tesla’s imminent demise for years. But how’s this for the bears – Morgan Stanley’s worst case scenario for Tesla is $10.

And in good news for car buyers, the EV trailblazer has responded by slashing the base price of its newly upgraded Model S and Model X vehicles.

Overall, US and European share markets rose on Tuesday after a temporary easing of US trade restrictions with giant Chinese telco Huawei.

In  local news, CommSec reckons there’s a good chance the RBA cash rate will change very soon.

Monetary policy hasn’t changed in Australia since August 2016, but Commsec now expects to the RBA to cash rate by 25bp to 1.25% on June 4, with a further rate cut looking probable.

“The RBA are reluctant rate cutters,” CommSec says.

“However, persistently below target inflation, below trend GDP growth and a slight rise in the unemployment rate mean that policy easing now looks imminent.”

The ASX Small Ords Index was green in morning trade, up 13.2 points to 2848.5 by midday EST.

Here’s your morning small cap winners and losers for Wednesday, May 22:


Influencer-friendly camera equipment shop Atomos (ASX:AMS) says it’s about to make almost 20 per cent more money in fiscal 2019 than it speculated in the December IPO prospectus, thanks to social media.

Shareholders liked the update, sending the stock up 23 per cent in morning trade.

There’s no news to speak of, but battery metals hopeful Australian Mines (ASX:AUZ) is a monster this morning – up almost 40 per cent on high volume.

And it’s the same deal with Celsius Resources (ASX:CLA), which is up 21 per cent in morning trade. The explorer, which scored a speeding ticket from the ASX last week, is now up 70 per cent over the past five days.

Here are the best performing ASX small cap stocks at 11.30am Wednesday, May 22:

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

Ticker Name Price % Chg Market Cap Volume
AUZ Australian Mines 0.024 33% $73,400,000 55.6M
TBH Betmakers 0.05 27% $14,900,000 521.1k
FPL Fremont Petroleum 0.012 20% $19,900,000 9.9M
AMS Atomos 1.29 23% $196,000,000 730.5k
CLA Celsius Resources 0.04 21% $25,700,000 34.6M
TV2 TV2U International 0.006 20% $13,600,000 6.7M
RES Resource Generation 0.12 17% $66,900,000 588.3k
DRO DroneShield 0.15 15% $29,000,000 3.0M
AHL AHAlife 0.008 14% $5,400,000 679.4k
KSN Kingston Resources 0.02 14% $24,100,000 1.8M
SRI Sipa Resources 0.008 14% $13,700,000 2.1M
TGM Theta Gold Mines 0.16 14% $61,000,000 7.2k
GLN Galan Lithium 0.25 14% $32,300,000 381.2k
TDO 3D Oil 0.11 13% $29,200,000 50.0k
KAI Kairos Minerals 0.02 13% $14,500,000 633.9k
OLV Otherlevels 0.02 13% $4,900,000 23.9k
TYM Tymlez 0.18 13% $23,500,000 100.0k
MCT Metalicity 0.009 13% $5,400,000 79.5k
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To be honest, there aren’t any of note. Well done, you.

Here are the worst performing ASX small cap stocks at 11.30am Wednesday, May 22:

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

Ticker Name Price % Chg Market Cap Volume
VAR Variscan Mines 0.001 -50% $1,300,000 102.7k
PCH Property Connect 0.002 -33% $1,400,000 207.6k
XPE Xped 0.0015 -25% $2,300,000 225.0k
GGX Gas2Grid 0.003 -25% $5,200,000 111.0k
EMU Emu 0.05 -22% $7,200,000 93.3k
ROG Red Sky Energy 0.002 -20% $2,200,000 500.0k
NEW Norwest Energy 0.002 -20% $471,300,000 670.3k
GTE Great Western Exploration 0.004 -20% $3,900,000 1.0M
AYR Alloy Resources 0.002 -20% $3,400,000 2.6M
NES Nelson Resources 0.05 -20% $2,100,000 14.3k
RDN Raiden Resources 0.009 -18% $3,700,000 595.5k
SND Saunders International 0.28 -18% $29,300,000 1.0k
VIC Victory Mines 0.0025 -17% $3,200,000 8.5M
E2E Eon NRG 0.005 -17% $3,800,000 1.0M
CFE Cape Lambert Resources 0.011 -15% $11,200,000 18.0k
GGG Greenland Minerals 0.11 -15% $130,300,000 6.0M
GMC Gulf Manganese 0.006 -14% $25,300,000 72.6M
EQE Equus Mining 0.006 -14% $5,400,000 1.0k
ADY Admiralty Resources 0.013 -13% $15,100,000 1.3k
TAO Tao Commodities 0.06 -13% $1,900,000 150.0k
BLY Boart Longyear 0.0035 -13% $92,000,000 6.8M
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At Stockhead, we tell it like it is. While Australian Mines is a Stockhead advertiser, it did not sponsor this article.