London’s AIM index resumed its descent today, shedding another nine points to sit at 1243.82 at the close.
- Quantum Blockchain +32%
- Falcon Oil & Gas +16%
- Good Energy +12%
- 7 Digital -43%
- Parsley Box -38%
Quantum Blockchain [LON:QBT] surged in trade today, adding 32%. This morning the company announced to the market that it had applied for a patent for a technology that can optimise the bitcoin mining algorithm. This apparently translates into a 7% efficiency gain which can be used to save energy or increase mining speeds.
Falcon Oil and Gas [LON:FOG] was up 16% today. There’s no news, volumes were comparatively unremarkable and this share is no stranger to volatility, but could an update be looming? One to watch.
Good Energy [LON:GOOD] gets the notable mention today, with shares up 12% at the close. As we have previously noted, the company is subject to a hostile bid from Ecotricity and shares slumped on lacklustre take up news earlier in the week. Although there has been a very modest commitment uptick announced today, it’s still a long way from the necessary 50% level to see the bid proceed. Today’s bounce doesn’t seem warranted.
7Digital [LON:7DIG] is propping up the board, having descended 43%. The B2B digital music solutions company issued interims to June 30th this morning and despite some vaguely positive headlines here, the note also included an update on contracts which have slipped into the next financial year, along with a note of caution over renegotiating of banking facilities.
Another laggard today was Parsley Box [LON:MEAL], off 38% at the close. Again, interim results were published this morning covering the first 8 months of the year, with revenues slightly ahead of the comparator. Labour and stock issues are however holding back growth at the company and investors are marking the shares down as a result.
