London’s AIM Index had slipped almost four points by 3pm, sitting at 828.54 as rampant UK inflation pushed the idea once again that the Bank of England would persist with its policy tightening agenda.
- Advanced Oncotherapy +55%
- Versarien +27%
- Spectral MD Holdings +14%
- Woodbois -63%
- Tern -17%
Advanced Oncotherapy LON:AVO added 55% by 3pm. On Tuesday, the company announced that as part of its ongoing financing review, it was putting the business up for sale and was looking at selling to a NASDAQ listed company. That has the potential to turbocharge any valuation.
Versarien LON:VRS had advanced 27% by our 3pm copy time, putting the company in second place on the board. There’s no news here and transactions have been limited, resulting in a fairly hefty spread on the stock. No news yet but maybe something incoming?
A notable mention for Spectral MD LON:SMD which was 14% higher at the time of writing. Again this is a reaction to partnering with a NASDAQ listed company, updating news fronm last week and underlining the fact many companies see better valuation opportunities on the other side of the pond.
Woodbois LON:WBI was the worst performer at the time of writing, off some 63%. The company this morning advised that a $6m debt facility had been withdrawn, putting significant pressures on finances. A poor Q1 performance had been noted as driving the decision but management are pushing back…
Tern LON:TERN slipped 17%, extending Tuesday’s losses off the back of that portfolio update. Critically, with tech company valuations now floundering in light of the macroeconomic headwinds and the company pushing back its audit schedule, support for the stock is fading.
