London’s AIM Index was rattled as the new week got underway. With concerns – quite possibly irrational ones – mounting that the junior market may be on the receiving end of a fire sale if IHT changes go ahead, combined with the risk off sentiment that’s emerging as a result of the geopolitical situation in the Middle East, the All Share lost a further seven points to sit at 687.07 by the bell.
- Audio Boom +14%
- Atlantic Lithium +13%
- Jadestone Energy +12%
- Mind Gym -38%
- Plant Health Care -13%
Audio Boom LON:BOOM was in front, up 14% on the day. There’s clear demand for the stock but limited volumes have pushed the spread out to more than 6%. A Q3 update was forthcoming around this time last year – there’s a degree of optimism that the FY’23 equivalent could impress.
Atlantic Lithium LON:ALL advanced 13% following speculation that a license application in Ghana would soon be granted. Volumes were elevated on the day although below recent highs.
Jadestone Energy LON:JSE gets a notable mention today, up 12% off the back of a financing and operational update. The company has successfully navigated a short term reduction in borrowing facilities and notes a series of positive operational announcements covering both active production and development sites.
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- Small Cap Stocks: Plant Health Care, Gelion, ADM Energy
Mind Gym LON:MIND found itself at the foot of the table, off 38% in the wake of an interim trading update. Performance was noted as being below expectations for the first half and forecasts for the full year have been lowered significantly, despite an uptick in Q3. Capex is being reigned in where possible and the company remains confident over its longer term outlook.
Plant Health Care LON:PHC was in second to last place, down 13% at the close. Despite the £25m market cap, this is a thinly traded stock which now trades down at lows not seen in almost three and a half years.
