AIM round-up: Catenae Innovation, Sound Energy, Quiz

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15th December 2021
Tony Cross
Sound Energy, Quiz, Catenae Innovation, Vast Resources [LON:VAST]

London’s AIM Index racked up another day of losses today, although downside was limited to just over two points, reaching the bell at 1162.5.

Catenae Innovation +36%
Sound Energy +23%
Vast Resources -16%
Katoro Gold -15%
Quiz -8%

Catenae Innovation [LON:CTEA] topped the board, adding some 36%. There’s no formal news out, but with the COVID passport roll out kicking off today for large venues and an expectation that even tighter rules may now follow, the company’s previous association with the project still seems to be lending support – even if management have already tried to distance themselves from the idea.

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Sound Energy [LON:SOU] is back on the radar with gains of 23% at 4.30pm. Again, no formal update here but off the back of recent updates there’s clearly a lot of optimism in play. Limited supply does seem to be widening out the spread so this could yet see some reversion if conditions normalise in the morning.

Vast Resources [LON:VAST] was the day’s worst performer, sliding 16%. The stock has been trending lower for the last couple of years and now has a market cap of below £5m with shareholder value being eroded quickly. Evidently there are now questions being asked as to for how much longer this can be sustained.

Katoro Gold [LON:KAT] also floundered today, slipping some 15%, although that’s within the spread of this £3m company. In summary, not much to report here following a day of limited trade.

A notable mention for fashion retailer Quiz [LON:QUIZ] which saw itself marked back by 8% today. Given how quiet London seems to be in the run up to Christmas, it’s likely that hopes of a last minute rush of buying those clothes for special occasions are evaporating fast. Trade in the stock was admittedly limited and the losses barely exceeded the closing spread, but any hopes of optimism off the back of a return to normality are seemingly evaporating.

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This article is not investment advice. Investors should do their own research or consult a professional advisor.

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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