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AIM round-up: Bahamas Petrol, Tekcapital, Global Petroleum, 88 Energy

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After starting Wednesday’s session in negative territory, the AIM index advanced quickly, closing up 5 point at 973.84, creeping ever closer to the year-to-date high.

  • Bahamas Petrol up 33%
  • Tekcapital up 28%
  • Global Petroleum down 36%
  • 88 Energy down 18%
  • Notable mention – N4 Pharma down 7%

Bahamas Petrol [LON:BPC] added one third to its share price, fuelled by what appears to be speculation over the prospect of a drilling update. Shares are still below the levels seen at the start of the summer, but an RNS on Thursday morning could add further upside here.

Tekcapital [LON:TEK] was another strong gainer, adding 28% after news that one if its portfolio companies had signed a distribution agreement bolstered confidence in the group. The company in question makes “microsalt”, which is a finely ground variant of regular salt, so apparently you get the same salty taste, just with less sodium… If nothing else this should be a lesson for investors everywhere – there’s still opportunity to be had!

Global Petroleum [LON:GBP] slumped 36% following its successful cash call. Apparently the £1.4m raised takes the company’s market cap to a mere £2m.

88 Energy [LON:88E] was another big faller, off 18% as the stock gives back some of its recent gains. As was noted yesterday the market is desperate for a more refined update after last week’s note. This slide appears testament to that.

N4 Pharma [LON:N4P] continues its rollercoaster ride as investors keep weighing up what might happen next. Having added  10% on Tuesday, shares closed 7% lower last night, edging back towards those levels from before the RNS about its COVID-19 study was issued in early August.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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