Another down day for London’s junior market with the AIM Index shedding just over nine points by the closing bell to sit at 909.33.
- Shield Therapeutics +18%
- Ascent Resources +16%
- Velocys +14%
- Revolution Beauty -59%
- GYG -32%
Shield Therapeutics LON:STX topped the board on Tuesday although gains came in at a modest 18%. Yesterday’s statement regarding a $10m shareholder loan didn’t elicit much of a response at the time, but today’s move – off limited trade – could well be the market now factoring in the extra headroom available.
Ascent Resources LON:AST found itself in second place, some 16% ahead. An update this morning over revenue realisation and ongoing disputes seems to have been well received, with a meaningful uptick in volumes being seen. Shares in the £5m company now trade at levels not seen for a couple of months.
A notable mention for Velocys LON:VLS which added 14% on the day. Shares are now up by almost a third since the middle of July and Sustainable Aviation Fuel is certainly moving back onto the popular agenda. Is more news incoming?
Revolution Beauty LON:REVB was left down 59% and propping up the index today after a trading update. This saw expectations dialled down both for the near term and on into next year, with a number of factors being cited. These include the fact that two key growth markets – Russia and Ukraine – are now discounted. The stock only IPO’d just over a year ago and has lost 85% of its value since.
Superyacht painter GYG LON:GYG issued a trading update today. That suggests that full year expectations will be met and that a robust order book is in place for the second half of the year, but the company has also proposed delisting its stock from AIM. There’s a slew of factors here including the idea that the market isn’t fairly valuing the stock, but in light of today’s 32% sell off, there appear to be plenty of investors ready to jump ship.