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:

GOING UP

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

TickerNamePrice% ChgMarket CapVolume
AUZAustralian Mines 0.02433%$73,400,00055.6M
TBHBetmakers 0.0527%$14,900,000521.1k
FPLFremont Petroleum0.01220%$19,900,0009.9M
AMSAtomos 1.2923%$196,000,000730.5k
CLACelsius Resources 0.0421%$25,700,00034.6M
TV2TV2U International 0.00620%$13,600,0006.7M
RESResource Generation 0.1217%$66,900,000588.3k
DRODroneShield 0.1515%$29,000,0003.0M
AHLAHAlife0.00814%$5,400,000679.4k
KSNKingston Resources 0.0214%$24,100,0001.8M
SRISipa Resources 0.00814%$13,700,0002.1M
TGMTheta Gold Mines 0.1614%$61,000,0007.2k
GLNGalan Lithium 0.2514%$32,300,000381.2k
TDO3D Oil 0.1113%$29,200,00050.0k
KAIKairos Minerals 0.0213%$14,500,000633.9k
OLVOtherlevels0.0213%$4,900,00023.9k
TYM Tymlez0.1813%$23,500,000100.0k
MCTMetalicity 0.00913%$5,400,00079.5k

 

GOING DOWN

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

TickerNamePrice% ChgMarket Cap Volume
VARVariscan Mines 0.001-50%$1,300,000102.7k
PCHProperty Connect0.002-33%$1,400,000207.6k
XPEXped 0.0015-25%$2,300,000225.0k
GGXGas2Grid 0.003-25%$5,200,000111.0k
EMUEmu0.05-22%$7,200,00093.3k
ROGRed Sky Energy 0.002-20%$2,200,000500.0k
NEWNorwest Energy0.002-20%$471,300,000670.3k
GTEGreat Western Exploration 0.004-20%$3,900,0001.0M
AYRAlloy Resources 0.002-20%$3,400,0002.6M
NESNelson Resources 0.05-20%$2,100,00014.3k
RDNRaiden Resources 0.009-18%$3,700,000595.5k
SNDSaunders International 0.28-18%$29,300,0001.0k
VICVictory Mines 0.0025-17%$3,200,0008.5M
E2EEon NRG 0.005-17%$3,800,0001.0M
CFECape Lambert Resources 0.011-15%$11,200,00018.0k
GGGGreenland Minerals 0.11-15%$130,300,0006.0M
GMCGulf Manganese0.006-14%$25,300,00072.6M
EQEEquus Mining 0.006-14%$5,400,0001.0k
ADYAdmiralty Resources0.013-13%$15,100,0001.3k
TAOTao Commodities 0.06-13%$1,900,000150.0k
BLYBoart Longyear 0.0035-13%$92,000,0006.8M

 

At Stockhead, we tell it like it is. While Australian Mines is a Stockhead advertiser, it did not sponsor this article.