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AIM round-up: Rosslyn Data, Ananda and IQE

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UK equities appear to have struggled during Thursday’s session with an uptick in the Pound’s valuation offering something of a headwind. The AIM Index did recover from session lows heading into the close but still finished down almost four and a half points at 850.27.

  • Rosslyn Data +19%
  • Ananda Developments +18%
  • Atlantic Lithium +18%
  • Star Phoenix -17%
  • IQE -36%

Rosslyn Data LON:RDT topped the board with gains of a modest 19% on the day. There has however been limited activity in the £33m market cap stock and the uptick is still eclipsed by the spread being quoted at the close.

AQUIS listed Ananda Developments [AQSE:ANA] advanced 18% today after the medical cannabis stock announced the planned acquisition of MRX Medical, along with a successful fund raise and boardroom reshuffle. MRX brings with it novel formulations of trial-ready medication, with grant funding already secured to undertake testing.

Atlantic Lithium LON:ALL is back in focus, today having added close on 18%. The company requested trading in the stock be suspended last night, has now responded to an online report where it refutes all allegations and trading has resumed. The stock is however still well down from level seen earlier in the week.

IQE LON:IQE slipped 36% off the back of a trading update. The semiconductor company notes that FY22 results are still set to come in as previously expected but weakening demand in 2023 will see H1 revenues marked down by around £30m. Management see this as a short term cyclical issue with demand returning to normal imminently.

Star Phoenix LON:STA slipped 17% finding itself in second to last place by the bell. Volumes were unremarkable but transactions are weighted on the offer and there’s no news out, but the stock has been sliding since the listing was restored a couple of weeks ago following a delay in publication of accounts.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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