After Friday’s pummelling, London’s AIM Index posted some modest gains as the new week got underway, although it remains below that psychologically significant 1,200 level. At the bell, the junior market had added nine points, to reach 1190.74.
- Genedrive +79%
- Marshall Motor Holdings +43%
- MyHealthChecked +15%
- Arcontech -19%
- Mysale Group -15%
Genedrive LON:GDR topped the board today, adding 79% off the back of news it had submitted its COVID-19 testing kit for EU certification. The technology offers a step change in rapid molecular testing, providing positive results in as little as 7.5 minutes and approval could be completed within a couple of weeks. Whilst today’s gains will be applauded, the shares still sit well below levels seen earlier in the global health pandemic.
Marshall Motor Holdings [LON:MMH] saw its share price add 43% today following news that a bid of 400p per share had been tabled for the company. This has been accepted by the majority shareholder and represents a meaningful uplift from last week’s price. This is a stock we added to our picks last month. You can watch Editor Stuart Fieldhouse discuss the business on this Master Investor Small Caps video.
A notable mention for MyHealthChecked LON:MHC whose shares added a further 15% today. The company provides at-home PCR tests so the weekend’s confirmation that these would now be mandatory for all returning overseas travellers has given investors cause for cheer, although it’s worth reiterating that the stock continues to sit below highs seen earlier in the year.
A trading update from Arcontech Group LON:ARC saw the data trading company slide to the foot of the board today, although losses were a relatively modest 19%. One customer cut its budget and another announced it would be terminating its contract, which collectively will cut a £300k hole in revenues. Market guidance for the year is therefore being pared back, although a strong sales pipeline is noted, pointing at confidence that the position can be recovered.
Mysale Group LON:MYSL slipped 15% although there’s nothing formal behind the move. An AGM was held today but we’re yet to see notification of any outcomes here. It does however appear that the AIM listing will be cancelled in favour of an Australian market listing so this may be damping sentiment.
