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Home » UK Shares » AIM Round-up » AIM Round-up: Hydrogen Group, I-Nexus Global, Phimedix, Kodal Minerals

Having spent much of the day trending lower, the AIM index managed to recover from session lows as US markets opened for the session, although still ended a shade over 5 points down at 952.77.

  • Hydrogen Group +38%
  • I-Nexus Global +31%
  • Phimedix -78%
  • Kodal Minerals -27%
  • Vela Technologies -14%

Hydrogen Group [LON:HYDG] umped higher at the opening bell with investors clearly encouraged by Tuesday morning’s release of interim results. As always, context is important here – the shares are just back to where they were trading in June – and there’s a cautious tone around the outlook, but a subsequent note advised of a bid by a consortium to take the company private, tendering 40p per share, which is now as good as fully priced in.

I-Nexus Global [LON:INX] was the second best performer of the day, adding 31% in the wake of a trading update. Cash burn has been reduced significantly, allowing the company to run at a break even P&L, and the sales pipeline shows £1.8m worth of annual recurring revenues. However, the company is struggling to find additional financing and expects a modest cash shortfall by the year end.

Phimedix [LON:PHM] tumbled by 78% during Tuesday’s trade. Final results had been issued, but the company has been trading as a cash shell since March. Failure to complete an acquisition in this time means that shares will be suspended from the end of the week. Should a reverse takeover not materialise in the next six months, the shares will then be delisted.

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Kodal Minerals [LON:KOD] is back on the list again, being Tuesday’s second largest faller. Shares are admittedly up around 100% from those late August lows, but down by a third from last week’s highs. Confidence in that MoU continues to wane, although will Elon Musk’s battery day provide any stimulus for lithium miners as a whole?

A notable mention for Vela Technologies [LON:VELA]. There are diverging signals over the actual closing price, but the stock again saw some very heavy trade during the session. This follows on from Monday’s 85% uptick, although there was news of one major investor selling down his holding.

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

Tony Cross

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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