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The AIM Index has spent Thursday’s session trading in a surprisingly tight range, arriving at the close just a couple of points offside at 1198.34.

  • B90 Holdings up 154%
  • Marwyn Acquisition up 80%
  • Premier African Minerals down 29%
  • Tekcapital down 24%
  • Fevertree Drinks down 13%

B90 Holdings [LON:B90] has topped the board again today, advancing an impressive 160% by the close, although gains were nearer 200% at one point. There’s no news beyond yesterday’s resumption of trading in the stock, although hopes of investors that the company’s share price can recover some of its former lustre – along with a side of “FOMO” – seems to be the key driver of enthusiasm for now. Congratulations to anyone who did manage to get in yesterday.

Marwyn Acquisition [LON:MACP] jumped 80% today and although there was no news out to justify the move higher, some confusion in the market from a SPAC with a similar name – and under the same umbrella – has made an announcement regarding its own fundraise and this could be behind the jump.

Premier African Minerals [LON:PREM] reached the bell some 29% lower, with investors digesting a corporate update which was published this morning. In short, the company is now planning to retain 100% ownership of a mining project, but with feasibility studies set to take 14 months, sentiment continues to cool for the stock. The risk of further dilution can’t be ignored.

Tekcapital [LON:TEK] also had a rough ride, shedding 24% by the close after it announced a £3.8m fundraise. The money is being used to increase investment in portfolio companies, including extending its stake in Belluscura. This venture has developed a portable oxygen enrichment technology that is delivered at a lower cost than seen by competitors. The Times reported less than two weeks ago that Belluscura was looking to revive plans for its own AIM listing which would value the business at up to £50m. Probably worth doing the sums on this one!

A notable mention for Fevertree Drinks [LON:FEVR] whose annual results published this morning received a distinctly flat response from investors. COVID shutdowns hit on-trade sales hard, but overseas expansion and more people drinking at home meant that headline revenues for the year were a mere 3% lower. However for a company which has been recording triple digit sales growth, there’s perhaps some concern creeping in now that the growth phase is starting to lose its fizz.

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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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