The AIM Index has been in for a bruising day, shedding 15 points to close at 1173.39. Yesterday’s budget left many struggling to find much cheer, whilst the prospect of higher interest rates also seems to be taking a toll.
- Origo Partners up 48%
- Clear Leisure up 33%
- Marechale Capital down 33%
- Westmount Energy down 25%
- MediaZest down 24%
Minnow Origo Partners LON:OPP has topped the board today adding 48%, although with the stock closing on a hulking wide spread and a comparatively small number of trades, it’s difficult to read much into this. The price actions after a period of calm could indicate that there’s some news coming, or equally this could reverse quickly, too. One to watch,
Clear Leisure [LON:CLP] also had a solid up day, adding 33% by the close. There’s been some solid buying interest in the company, which has found itself back on our radar as a result. As previously noted they want to push into the crypto space but could also benefit from a series of ongoing law suits, which would yield many times the company’s market cap.
Marechale Capital LON:MAC slipped again today, dropping 33% to find itself at the foot of the board. A trading update published shortly before the close has failed to drive any fresh interest in the stock, despite its upbeat tone. There is a chance that given the stock is down 60% over the last couple of days that buying interest could however return tomorrow.
Westmount Energy LON:WTE slipped 25% off the back of a drilling update released this morning. The note highlighted that the well encountered quality reservoirs, but non-commercial hydrocarbons. Overall however there’s perhaps something to be taken from the fact that two more wells are still to be drilled and with shares back at eight month lows, there could be interest for some here.
MediaZest LON:MDZ gets the notable mention today, with the stock having been on our radar four times in the last month. Today was a down day however with the stock dropping by 24% off the back of results. Previous gains had been driven by the idea that a strong pipeline lay ahead, but with a slightly more reserved tone regarding the outlook in today’s note, the cool response from investors is perhaps understandable. Despite today’s losses, shares remain around 75% up from pre-Christmas levels – but well off recent highs.
