London’s AIM Index has continued to make progress above the 700 level during Thursday’s session but gains haven’t quite managed to keep pace with the main board. By the close the all share stood at 704.55, up almost three points.
- MobilityOne +68%
- Quantum Blockchain +43%
- Xeros Technology +42%
- Myanmar Investments -27%
- Catalyst Media -25%
MobilityOne LON:MBO topped the board, adding 68% on the day after the company issued an update on its joint venture with Super Apps. This is a slightly complex series of corporate actions but if a disposal is completed then MobilityOne will receive two payments totalling around £10m.
Quantum Blockchain LON:QBT continued to find favour, adding 43% by the close to sit in second place. There’s no news out although Bitcoin has jumped out to levels not seen since April ’22 and the stock reportedly seems to be in short supply.
Xeros Technology LON:XSG added 42% on the day to take the notable mention with news of stakebuilding released late in yesterday’s session seemingly lending some support. Trade was somewhat lumpy however and the closing spread sat above 11%.
- AIM Market Roundup: Immupharma, Poolbeg, Xeros
- Small Cap Stocks: Quantum Blockchain, Arkle Resources, Chariot O&G
- Small Cap Stocks: Symphony Environmental, Safestay, Xeros Tech
Myanmar Investments LON:MIL was the day’s worst performer, off 27% at the bell. The company this morning proposed that it would delist from AIM and sell down portfolio investments. Once this has been done a capital distribution may follow and it’s worth noting that the current market cap sits well below the advised NAV.
Catalyst Media LON:CMX was in second to last place, down 25% on the day. A major stakeholder pared their exposure but the resulting sell-off has taken a significant toll, wiping around £5m from the market cap and more than reversing gains posted off the back of recent dividend news from a portfolio company. Has the selloff been overdone?
