It’s been another down day for London’s AIM market with the index slipping a further five points to reach 1295.66 by the bell.
- Hardide +32%
- Kropz +18%
- Galantas Gold Corp -17%
- Windar Photonics -16%
- ASOS -6%
Hardide LON:HDD found itself pushed to the top of the board today, adding an impressive 32% after the company announced a contract win ahead of the opening bell. Although the deal is only worth £200,000, it’s the company’s first production order for power generation turbine blades, and the note made clear that it expects this to be the start of a healthy pipeline.
Phosphate explorer Kropz LON:KRPZ found itself in second place, up 18% by the bell. There was very limited trade seen but a positive update over a water license in South Africa seems to have helped buoy sentiment. That said, the gain is still within the spread being quoted at the close, which stood at 33%
Galantas Gold Corp [LON:GAL] was the day’s worst performer, shedding just over 17%. There’s no fresh news here, but yesterday a director’s retirement/resignation was announced so this may just be a delayed reaction. With a market cap of £22m and a spread of around 7% however its’ difficult to read too much into this move.
Windar Photonics LON:WPHO remains under pressure with the stock losing a further 16% today. That takes losses since the start of the month to more than 35% but there’s no news out to justify the move. With a current spread of 11% and a market cap of just £10m however again this is hardly abnormal volatility.
ASOS LON:ASC gets the notable mention today after shares slumped almost 6%. Whilst there are a number of concerns facing retailers right now including supply chain issues and worries over consumer demand, we did see a broker upgrade for peer Boohoo. This may be behind the price action.
