Despite signs that the UK’s inflation peak may be coming to an end, the AIM market has failed to make any headway during Wednesday’s session, with all eyes very much on tonight’s rate call from the Federal Reserve. At 4.30pm the AIM Index was two and a half points lower at 836.02
- PCF Group +56%
- Osirium Technology +37%
- Corcel +21%
- Trackwise Design -89%
- Parsley Box -37%
PCF Group LON:PCF topped the board, up 56% at the bell. The company saw heavy selling On Tuesday off the back of that delisting announcement so this appears to be a case of some bargain hunting by committed investors, although the stock is off mid-session highs and is being quoted on a 50% spread, too.
Osirium Technology LON:OSI added 37%, helped along by a notification that an investor had accrued a 10% stake in the company. This is a £1m stock but the investor has some good form (and I believe he may be at least an occasional reader of this column, too….)
Corcel LON:CRCL gets the notable mention following news of a placing, adding 21%. This was conducted at an impressive 95% premium to market price, with a new investor providing almost £500,000 of capital. Funds will be used to pay down debt and for the development of new opportunities in the battery metals space.
- Corcel focusing on high-potential O&G assets
- Small Cap Stocks: Good Energy, Distil, Corcel
- Small Cap Stocks: Cloudcoco, Feedback, Versarien
Shares in Trackwise LON:TWD were pummelled On Wednesday morning, falling 89% by the bell after the company announced a deeply discounted placing. The raise requires the approval of shareholders and the extent of the discount is clearly uncomfortable for directors, with the note adding that a further raise will likely be required by Q3 ’23 to reach breakeven.
Parsley Box LON:MEAL is back on the radar, off a further 37% today in the wake of the General Meeting results being issued. This has shown almost universal support for the cancellation of the listing, along with a migration to Asset Match for future trading.
