Hot stock: Alset up 19% after Tesla partnership announcement

Yong Jun Yuan

Published Tue, Jun 22, 2021 · 11:08 AM

ALSET International, the Catalist-listed property investment and development company formerly known as Singapore eDevelopment, was up after its Monday filing on its partnership with electric vehicle (EV) company Tesla to deliver its first 20 eco-friendly homes in the Houston area of Texas.

As at 9.04am, the stock was up 19.4 per cent, or 1.2 Singapore cents to 7.4 cents after some 9.4 million shares changed hands.

Shares in Alset eased to close at 6.6 cents on Tuesday, up 0.4 cent or 6.45 per cent.

No married deals were recorded in early trade, according to ShareInvestor data.

Alset had earlier announced that its US-based indirect subsidiary Alset EHome had signed a strategic agreement with Tesla for an initial supply of photovoltaic solar panels, Powerwall battery systems and EV chargers to be installed in 20 single-family homes in Northpark Community in Porter, Texas.