The AIM Index once again managed to make a little headway during Tuesday’s session but gains by the close were unremarkable, closing up less than one point at 985.08.
- Arena Events up 35%
- Tasty up 31%
- Tri-Star Resources down 44%
- Online Blockchain down 20%
- Immupharma up 17%
Arena Events [LON:ARE] was Tuesday’s biggest riser, adding 35% after the company published its interim results. Despite the company being hit hard by COVID-19 instituted changes, the group was cash neutral over the six month period and EBITDA on an adjusted basis was positive. Shares were also put in a relatively underwhelming response to yesterday’s vaccination news but investors will presumably be cheered by both these data points.
Restaurant operator Tasty [LON:TAST] managed to add to Monday’s gains during the session, although the usual caveats need to apply. This is a £3m market cap company and closed on a spread in excess of 10%. With that in mind, the 31% gain seen during the session may lose a bit of its lustre.
At the other end of the board, Tri-Star Resources [LON:TSTR] appears once again, shedding a further 44%. The stock has now lost close on 80% of its value over the last two days and sits on an incredibly wide 6p spread.
Online Blockchain [LON:OBC] lost 20% on Tuesday in the wake of final results. A read through shows there was little to inspire investors with a generally gloomy tone, including a note that highlighted the high fixed costs of the business and how a change in revenue may lead to an inability to cover this. Shares in the company jumped last week as Bitcoin pushed out to record highs – the stall there is likely also adding to investor woes.
Today’s notable mention goes to ImmuPharma [LON:IMM], which added 17%. The stock was buoyed in the wake of an update regarding an FDA filing which included a request to approve the drug in question – it treats an autoimmune disease – whilst the phase 3 clinical trial is underway.