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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.

Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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