After yesterday’s surge higher, the AIM Index found fresh legs this morning, briefly breaking above 1,200. Gains however proved difficult to sustain amidst mounting concern over the prospect of fresh COVID restrictions, leaving the market to reach the bell just in the red, down almost two points at 1,198.34.
- Catenae Innovation +50%
- Genedrive +44%
- MyHealthChecked +14%
- Gelion -23%
- Byotrol -13%
Catenae Innovation LON:CTEA surged 50% today, making its way to the top of the leaderboard. The company has been linked to COVID passport schemes in the past and the deteriorating situation in light of the Omicron variant is arguably creating some fresh potential here. The stock is however no stranger to erratic price action and remains well below levels seen just 18 months ago.
Genedrive LON:GDR also had a good day, adding 44% after confirming its rapid COVID19 test kit had been approved by European regulators. Shares have now almost quadrupled in value over the last two weeks but again remain well below the levels tested in the early days of the health pandemic.
A notable mention for MyHealthChecked LON:MHC, which added 14% today in what was a volatile session. The company’s involvement in over the counter PCR tests means they stand to benefit if the pandemic – and accompanying testing regimes – are extended, although it’s worth noting trade was volatile and the closing spread equated to around half the day’s gains.
Recently IPO’d Gelion LON:GELN is again at the foot of the board for a second consecutive day, down 23% and leaving shares sitting very close to the issue price. Again, no news to justify the move so this still looks to be a case of just finding the right level.
Byotrol LON:BYOT slipped 13% but that was sufficient to leave the infection prevention company in second to last place. Interim results published this morning painted an upbeat picture in terms of sales pipelines, but the company notes that demand and margin are both vulnerable as even a partial lockdown will impact demand for consumables.
