Top 10 at 10: Pot stock powers to profit, power company pulls M&A payday

Stockhead’s Top 10 at 10, published at ~10.40am each trading day, highlights the best (and worst) performing ASX stocks in morning trade using live data.

It’s a short, sharp update to help frame the trading day by showing the biggest movers in percentage terms.

The market opens at 10am (eastern time) and the data is taken at 10:15am, once every ASX stock has started trading.

WINNERS

Stocks highlighted in yellow made market-moving announcements (click headings to sort).

Code	Company	Price	%	Volume	Market Cap
DTM	Dart Mining NL	0.038	124%	5,588,571	$3,868,854
ME1	Melodiol Glb Health	0.0075	50%	19,869,897	$2,034,178
IEC	Intra Energy Corp	0.003	50%	20,000,000	$3,381,563
MSB	Mesoblast Limited	0.825	49%	12,335,411	$633,095,022
TPC	TPC Consolidated Ltd	11	38%	8,013	$90,742,856
AHN	Athena Resources	0.004	33%	400,000	$3,211,403
TKL	Traka Resources	0.002	33%	252,002	$2,625,988
TMK	TMK Energy Limited	0.004	33%	2,870,380	$20,267,144
MOM	Moab Minerals Ltd	0.005	25%	100,000	$2,847,854
PNM	Pacific Nickel Mines	0.03	20%	1,250,113	$10,456,328

Pot stock Melodiol (ASX:ME1) says Canadian subsidiary Mernova has approvals to launch new products across several provincial markets.

It delivered $1.75m of unaudited revenue in Q1 2024, up 13% on Q1 2023, with the Q2 order book already sitting at $373,000.

Explorer Intra Energy (ASX:IEC) identified more “compelling” lithium anomalies at the recently acquired Maggie Hays project in WA.

Power and gas retailer TPC (ASX:TPC) attracts a takeover offer from Beijing Energy International at $8.77/sh cash, plus special dividend and/or return of capital of up to $2.64/sh and the right to potential earn out scheme consideration of up to $4.41/sh.

The TPC board recommends the deal.

LOSERS

Stocks highlighted in yellow made market-moving announcements (click headings to sort).

Code	Company	Price	%	Volume	Market Cap
GEN	Genmin	0.104	-35%	3,225,196	$109,638,080
LNR	Lanthanein Resources	0.002	-33%	6,000	$5,864,727
MRD	Mount Ridley Mines	0.001	-33%	948	$11,677,324
PFE	Panteraminerals	0.038	-28%	367,000	$13,805,550
1MC	Morella Corporation	0.003	-25%	64,655	$24,715,198
MTL	Mantle Minerals Ltd	0.0015	-25%	38,753	$12,394,892
PRX	Prodigy Gold NL	0.003	-25%	30,114,082	$7,004,431
MTB	Mount Burgess Mining	0.002	-20%	75,000	$2,612,034
RDS	Redstone Resources	0.004	-20%	2,000,000	$4,626,892
ROG	Red Sky Energy.	0.004	-20%	1,520,000	$27,111,136