Any optimism over the idea that the Bank of England will reign in rate hikes failed to deliver much inspiration for the junior market today with London’s AIM index shedding close on another nine points by the close to finish at 915.15
- Xeros Technologies +97%
- Frontier Developments +17%
- Revolution Bars +7%
- Tekmar -48%
- Verici DX -21%
Xeros Technologies [LON:XSG] jumped almost 100% today off the back of this morning’s announcement of its first licensing agreement being signed. There’s a comparatively wide spread here but volumes are significantly elevated, suggesting that at least some of these gains may be sustainable.
Frontier Developments [LON:FDEV] found itself in second place, up a rather more modest 17% off the back of a trading update this morning which flagged record annual revenue growth of 26%. The outlook for growth also looks positive here, adding to investor confidence.
A notable mention from Revolution Bars [LON:RBG] who issued a trading update this morning. Critically, the company noted a strong performance over the long holiday weekend meant that full year EBITDA was expected to top market expectations, with the shares adding 7% on the day.
Tekmar [LON:TGP] struggled again today following that sale process news we saw announced yesterday, with shares shedding a further 48%. Despite the upbeat veneer put on the decision to seek an external backer, investors clearly aren’t buying the optimism.
Verici DX [LON:VRCI] also struggled, shedding 21% following the publication of validation results before the open today. Despite the upbeat tone of the note, investors struggled to find inspiration here although deals were limited and the sell-off was close to the closing spread.
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