London’s AIM Index has had something of a benign day, trading in a range of just four points to reach the closing bell down less that one point at 1055.02
- ADFVN +42%
- Volex +20%
- Naked Wine +16%
- Bion -76%
- Kefi Gold -29%
ADVFN [LON:AFN] topped the board today, adding 42% to its share price in admittedly thin trade which left a closing spread of close on 10% being quoted. There’s a General Meeting due next week which will provide some vital clarity on the future shape of the board. Today’s gains may be an early indication of confidence as to the outcome.
Volex [LON:VLX] was the day’s second biggest riser, adding 20% by the bell. A trading update this morning put results ahead of expectations, noting a robust response to the supply chain challenges and painting a generally positive picture for the future.
A notable mention for Naked Wines [LON:WINE] which also issued a trading update this morning covering the full year to 28th March. Group sales added 5% on the year and 77% on a two year basis, with sales retention coming in ahead of guidance, leaving shares 16% higher at the close.
Bion [LON:BION] was the worst performer, with a hulking 76% loss being chalked up on the day. The company’s stock had been suspended from trading for the last six months but following the filing of accounts yesterday, found shares reinstated. There is however a proverbial mile-wide spread involved here on the £2m minnow. Arguably a need for this to settle down a bit before any true post-restoration assessment can be made.
Kefi Gold [LON:KEFI] also struggled, sliding 29% by the bell. The company announced an £8m funding round this morning, so this is the resulting dilution, but the move also unwinds all the gains seen since the start of the month when a Q1 operational update was well received by the market.
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