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Small Cap Stocks: Petro Matad, Empyrean, Longboat Energy

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It’s been a day of steady losses for London equity markets with rising US treasury yields seen as being the culprit. The AIM All Share closed down eight points at 800.27.

  • Petro Matad +43%
  • Empyrean Energy +21%
  • Quadrise +17%
  • Longboat Energy -59%
  • Revolution Bars -23%

Petro Matad [LON:MATD] was the day’s biggest riser, up 43% with investors cheered by an operational update highlighting the approval of regulatory permissions.

Empyrean Energy LON:EME added 21% on the day, reversing at least some of Tuesday’s losses. Volumes were however a fraction of yesterday’s 25 million.

Longboat Energy LON:LBE was the day’s laggard, off 59% at the close. Again a corporate and operational update was behind the move with management highlighting a series of near term financial challenges. Confidence that the slimmed down company could navigate these issues has received a muted response.

Revolution Bars LON:RBG slid 23% on the day after this morning’s update. With the Nightcap proposal being ruled out the date of the planned General Meeting has been deferred until mid June, leaving the investors having to ask the question as to whether a further funding round will be worth it.

Quadrise [LON:QED] gets the notable mention, up 17%. Shares are now trading 36% higher over the week so far with a brace of corporate updates being well received.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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