The AIM market has failed to make much headway through Tuesday’s session so despite a promising start, much of the day was spent in negative territory. Gains were limited to just over one quarter of a point, with the index closing at 1179.03.
- Kibo Energy up 35%
- Trafalgar Property up 34%
- Angus Energy down 14%
- Corcel down 13%
- Online Blockchain down 6%
Kibo Energy [LON:KIBO] found itself at the top of the board today, with the minnow extending its recent run of gains and adding a further 35% by the close. There’s no hard news behind the move but there is a feasibility study expected to be released imminently, according to a market update which was supplied just before Christmas.
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Trafalgar Property [LON:TRAF] added 34%, helped along by news that the CEO had extended his holding to some 13.8% of the company. Again there’s no current news out from the company and the PDMR trade means that nothing should be imminent, either.
Angus Energy [LON:ANGS] slipped 14%, leaving the stock at the foot of the table today. Like many in the broader energy sector, shares have been finding favour since late last year, so the moderately wide closing spread and unremarkable volumes perhaps mean there’s nothing to be read into this dip. The company did post on Twitter today photos of a pipeline completion, but there’s a string of conditionalities than need to be met, so a degree of profit taking off recent gains may be no surprise.
Corcel [LON:CRCL] was another big faller, off 13%, but the wide spread and low market cap mean there’s little to see here. A TR-1 was posted today after a broker (likely holding shares on a nominee basis) dropped its stake, something that coincided with last week’s spike higher, but in isolation there’s little cause for concern.
The notable mention goes to Online Blockchain [LON:OBC], in part following popular reader engagement in response to yesterday’s column! The stock saw a choppy day of trade, as having opened at 65p, highs of 72p were hit and then the share closed at 58p, equating to a 6% loss on the day. Volatility in the BTC price is driving sentiment here, but it’s a stock we’ll continue to watch.