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AIM round-up: Nanosynth, Alba Minerals, Challenger Energy

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After that bout of respite mid-week, the AIM index took another dip lower on Thursday. That news from the Fed last night – whilst fully expected – has served as a reminder to many that it may be time to take some money off the table as far as equities are concerned. The junior market ended down almost 10 points on the day at 1087.56.

  • Nanosynth +26%
  • Alba Minerals +32%
  • Challenger Energy -75%
  • Tintra -27%
  • ITM Power -10%

Alba Minerals [LON:ALBA] surged to the top of the leaderboard today, up 32% by the bell. The stock is no stranger to volatility and has been in for a busy session, despite no apparent news. Indeed volumes have been elevated for the last week or so, but the closing spread of 14% also needs to be taken into account when looking at the upside.

Shares in Nanosynth [LON:NNN] also fared well, adding 26% in brisk late session trade. The company is no stranger to volatility, having lurched higher in early December off the back of JV news, but there’s speculation that more is to come here, with continued mask wearing in a number of UK settings seen as adding potential upside, too.

Challenger Energy [LON:CEG] was the day’s laggard, off a hulking 75% by the close. This represents the dilution effect of this morning’s placing news however, with the cash supporting a financial restructuring plus some low risk development work. The company is extending the institutional offer on the same terms to retail shareholders and the fact the stock “only” fell 75% arguably suggests there’s some confidence in the future prospects.

Tintra [LON:TNT] is on the list again but this time as the day’s second biggest faller, off 27% at the bell. Shares have now lost around 40% from recent highs and this has evidently caught out some of those who bought in off the back of the rally. It’s a less than straightforward corporate structure here, but todays trade was lumpy and the closing spread was close on 12%.

ITM Power [LON:ITM] gets the notable mention today. The stock has been slipping for the last couple of months and now sits at less than half of the November highs. This morning’s update showed revenue up, losses widening and the company pushing ahead with expansion plans. This is certainly of the moment in terms of green energy but at times it feels as if the economics still aren’t right. The company is well capitalised but the question is whether it can start turning a profit before the money runs out again. Shares close down 10% on the day.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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