European Cobalt increases Money reader's lead


Money reader Scott Andrews has increased his lead over Angie Ellis of 80 20 Investments in week two of the four-week Shares Race.

Andrews has added more than $19,000 to take his portfolio to $137,769.

Ellis, who won two of the past three rounds, increased the value of her portfolio by more than $6000 to $116,854.

The S&P/ASX 200 index finished the week, which for the shares race is the close on Thursday, slightly down at about 5650 points.

The share price of European Cobalt, Andrews' best performer, continued last week's surge into this week with his original $10,000 in the company worth $25,000.

Cobalt is used in consumer electronics and is essential for the batteries used in electric cars, but it's in short supply.

European Colbalt is exploring and developing cobalt mines in Slovakia and Finland and when production starts, cobalt will be sold to European end-users.

Angie Ellis' best-best pick is GetSwift???, with her original $10,000 worth $15,750.

GetSwift was founded by former Melbourne AFL player Joel Macdonald and routes, tracks and delivers goods on behalf of businesses to their customers.

Logistics is a crowded and highly-competitive space, but it appears day-traders are getting behind GetSwift.

Richard Pritchard, who plays as the Chartist, remains in third spot with lithium miner Argosy still his best pick. Though its share price slipped back this week, his original $10,000 in Argosy is worth $13,095.

The Shares Race is a fantasy shares game. Contestants start with $100,000 across 10 stocks.

This story European Cobalt increases Money reader's lead first appeared on The Sydney Morning Herald.