London’s AIM Index tacked on a handful of points by mid-afternoon, but given the fact the market is down almost 15% year to date, this is hardly much to get excited about. The combination of geopolitical tensions and a possible global equity market correction means there’s plenty to be concerned about. At 3pm the index sat almost four points up on the day at 1035.35.
- Eve Sleep +66%
- Borders & Southern +45%
- Synairgen +29%
- Ovoca Bio -24%
- Slingsby -20%
Mattress maker Eve Sleep LON:EVE topped the board by our 3pm copy time today, up 66% following the announcement of a retail partnership with DFS, starting on the website. This will give the company an additional audience of 2.7m unique site visitors a month – something that investors have been quick to cheer. Critically however will be the ability to see this traffic convert into meaningful sales.
Borders and Southern [LON:BOR] also fared well, adding 45%. Trade was however lumpy with only a limited number of sellers driving spreads significantly. There’s no formal news update but if some positives are heard, and especially given the bloated state of energy prices right now, then this could be one to watch.
A notable mention for Synairgen LON:SNG, which tacked on 29% by 3pm. The company’s stock took a beating on Monday off the back of a trials update and given their other ambitions beyond COVID this did seem a little overdone. Is this the start of a grind higher, or are other moves afoot?
Ovoca Bio [LON:OVB] was the biggest faller at 3pm, sitting some 24% lower. This comes on the back of sharp gains seen on Tuesday, which may have been speculative off the back of today’s news. The fact it’s a marketing authorisation for product in Russia may well have taken the shine off matters…
Slingsby LON:SLNG was the second worst performer at copy time, off some 20%. However this is a microcap stock which saw very limited trade and an absence of liquidity has resulted in this dramatic swing in share price.
