Is the AIM All Share starting to enjoy something of a Santa rally? The index added two and a half points on Monday, closing at 740.72, its highest since October and up 2.5% from the late November lows.
- Catenai +50%
- Genip +30%
- Goldstone +24%
- ValiRx -48%
- QUIZ -24%
Catenai [LON:CTAI] was topping the board, up 50% on the day. Volumes were notably elevated but there’s no fundamentals out to support the move. However it’s worth noting that there’s a significant spread here and even this move is within what is being quoted.
In second place was Genip [LON:GNIP], up 30%. That’s extending the gains seen last week off the back of a stake building notification and once again meaningful buying demand was seen. The spread remains wide although like Catenai, again the company is heavily exposed to AI so are we seeing some buying interest here?
- Small Cap Stocks: Borders & Southern, GENIP, Smarttech 247
- Small Cap Stocks: i-nexus Global, Genip, Oxford Biodynamics
Goldstone LON:GRL was 24% higher off the back of a mining update, with production at a gold site in Ghana up 34% on the month and further expansion mooted. However an overdue CLN has been placed under a standstill agreement but the next update here is due on 20th December. Will the update cut any slack with lenders?
- Small Cap Stocks: Oracle Power, Surface Transforms, Goldstone Resources
- Small Cap Stocks: Mindflair, Conroy Gold, Goldstone
ValiRx LON:VAL was the biggest faller, off 48% in the wake of funding news although the heavy involvement from management was notable and the stock is trading at a modest premium to the new issue price.
- Small Cap Stocks: Guardian Metal, MediaZest, Enwell
- Small Cap Stocks: Valirx, EnergyPathways, Merit Group
Fashion retailer QUIZ LON:QUIZ was down 24%, doubling down on losses from before the weekend break when the company cautioned over trading and advised the market that a cash call could be necessary if a shareholder loan didn’t materialise. This slump will be doing little to instil confidence in the company.
