The AIM All Share index struggled in Wednesday’s early trade but recovered the majority of its losses by the close, finishing less than one point lower at 952.32.
- Phimedix up 45%
- Amryt Pharma up 36%
- Marechale Capital down 20%
- Haydale Graphene down 19%
- Fevertree down 3%
Shares in Phimedix [LON:PHM] saw a volatile session, following Tuesday’s rout in the wake of that announcement over a potential suspension of shares at the end of the week. Shares were as much as 200% higher at one point before retreating. Ultimately there are limited assets in the business and the clock is ticking on the need to make an acquisition.
Amryt Pharma LON:AMYT is a company that is dedicated to developing and commercializing novel therapeutics to treat patients suffering from serious and life-threatening rare diseases. This morning they updated the market on a successful phase 3 trial for the treatment of Epidermolysis Bullos. This allows the company to move to regulatory filings, with investors quick to applaud the news.
Marechale Capital LON:MAC was the biggest faller on the day, losing 20% although there’s little to support the move. Just over two weeks ago, the company narrowly missed moving into profit but has seen its shares grinding higher regardless. However with a market cap of just £830,000 and a wide spread, it’s difficult to read anything into this.
Haydale Graphene LON:HAYD was another casualty on Wednesday although given the company completed a £3m fund raise the loss can be fully ascribed to the dilution effect. This morning’s announcement of a supply contract for a cosmetics firm ought to offer some cause for cheer, too.
FeverTree LON:FEVR published interim results on Tuesday and has seen some meaningful volatility since. Losses on the day have been modest but this is a punchy company for AIM, worth a total of almost £2.5 billion. Comparatively low volumes may have skewed the price action during Wednesday’s trade
