London’s AIM Index resumed its downward path on Wednesday with a soft start seeing further pressure off the back of the US open. At 4.30pm the junior market was almost six points lower at 1227.39.
- Quantum Blockchain +25%
- Light Science Technologies +17%
- Nightcap +9%
- Limitless Earth -30%
- Stanley Gibbons -11%
Quantum Blockchain LON:QBT added another 25% on the day, again with no fresh news out, although this extends Tuesday’s rally. There’s an ongoing belief that crypto assets are getting more mainstream, whilst the company also has the potential to benefit from the realignment of R&D tax credits noted in today’s budget.
Light Science Technologies LON:LST landed up as the day’s second best performer, adding 17% by the bell. The company floated less than two weeks ago but has been marching steadily higher since. Trades remain quite lumpy but there seems to be no shortage of investors believing they might find value here.
A notable mention for Nightcap LON:NGHT, whose shares added 9% on the day. Whilst the format is unlikely to see much benefit from the Chancellor’s ‘draught relief’, the extension of rate relief for hospitality premises for another 12 months is likely lending support.
At the foot of the board it’s Limitless Earth LON:LME, a company which saw a degree of excitement yesterday morning before management issued a speeding ticket. Shares have retreated a further 30% today in very limited trade, but the stock now sits back close to where it started the week.
Stanley Gibbons LON:SGI was the day’s second worst performer, down a modest 11% in thin trade. There’s nothing out to substantiate the move lower, although a subsidiary of the company remains embroiled in a rent dispute over property in New York. There’s no reason to believe this is behind today’s move but an unfavourable outcome here could certainly prove costly.
