London’s AIM Index has seen a rough start to the week, underperforming its larger peers and posting its third consecutive day of losses to finish almost 12 points offside at 1220.90
- Real Good Food +20%
- ADVFN +20%
- Escape Hunt +10%
- Frontier Developments -32%
- Tiger Royalties and Investments -14%
Some very lumpy, one way trade helped Real Good Food LON:RGD serve up a 20% gain for the share price today, moving beyond the spread. The stock has seen some volatility of late amidst suggestions of a delisting and stake building. There’s no news out to justify today’s gains, but these only help recover a fraction of the recent losses.
ADVFN LON:AFN found itself in second place today, also adding 20%. There’s no meaningful news here to support the move, but volumes were certainly elevated. An apparent historic ownership statement was however disclosed so whether we see some kind of correction here – was the date of 23-11-12 on the TR1 just mis-keyed – remains to be seen.
A notable mention for Escape Hunt [LON:ESC] who saw its share price tack on a respectable 10% in the wake of news that an open offer had been significantly oversubscribed. However it’s worth noting that this move only takes the share price back to just short of where it started the month, before the fund raise news was announced. There’s clearly confidence in the strategy but the gains need to be read in context.
Videogame producer Frontier Developments LON:FDEV found itself at the foot of the board today, sitting some 32% lower by the bell. A trading update covering the year to May 2022 was published this morning, which contained news that sales of its recently released Jurassic World Evolution 2 game had been lower than expected. The game is expected to be the largest revenue generator for the year and the company’s claim that the lacklustre reception was a timing issue evidently left investors looking for a reboot.
Tiger Royalties LON:TIR also appeared to struggle today with the company shedding 14% but trade was exceptionally thin and the decline sits inside the closing spread of this £1m minnow. Nothing to see here, by all accounts.
