It’s been another day of modest losses for the AIM All Share, with the index closing down by one and half points, a decline that’s in line with the FTSE-100’s performance on a percentage basis.
- Ovoca Bio +74%
- Proton Motors +63%
- Electric Guitar +23%
- Enteq Technologies -46%
- Directa Plus -28%
Ovoca Bio [LON:OVB] was the biggest riser, holding onto this morning’s gains following the publication of interim results. Critically the company is on course to receive a significant rebate from authorities in Australia and this appears to be dominating the agenda.
Proton Motors LON:PPS was in second place, adding some 63%. The stock has been through a turbulent period following repeated warnings about a funding cliff edge at the year end. The gains barely cover the spread but is this indicative of news incoming?
- Small Cap Stocks: Victoria, Proton Motors, Coro Energy
- Small Cap Stocks: Star Energy, Woodbois, Proton Motor
Electric Guitar LON:ELEG gets the notable mention, up 23% on the day. The company this morning announced it was making a play into open banking with a new loyalty app, news which appears to have given investors something to at least consider cheering.
- Small Cap Stocks: Eco Buildings, IXICO, Electric Guitar
- Small Cap Stocks: Image Scan, Electric Guitar, Chaarat Gold
Enteq Technologies LON:NTQ was 46% down on the day with the move reflecting the discount attached to the latest fund raise. Funds will be used to expand the fleet size, for working capital support and to strengthen the balance sheet.
Directa Plus LON:DCTA was in second to last place, sitting 28% lower at the bell. Interim results showed a delay in some projects as impacting revenues to a meaningful extent and even a marked improvement in margins failed to have any impact on the bottom line. Management however see the headwinds as being short term although full year revenues will be materially below market expectations.
