After yesterday’s pause for breath, the AIM index resumed its decline, shedding a further six and a half points by the bell to finish at 750.06. The prospect of BoE interest rates staying high for longer is certainly eroding confidence.
- Univision +167%
- Amte Power +33%
- Ethernity Networks +23%
- Tinybuild -79%
- Microsaic -35%
Univision LON:UVEL was the stand out performer on the day, adding 167% by the close. The stock took a beating earlier in the week after news of a contract loss but there are some suggestions the sell off could be overdone. Volumes were however thin and the spread accounted for 40% of the uptick.
Amte Power LON:AMTE was the day’s second biggest gainer, up 33%. The company advised the market that it now expects to receive UN accreditation for its ultra high power cells in Q3, following a structural defect being identified in the product. Shares have however been under significant pressure amidst extreme funding concerns that could leave shareholders with nothing if fresh investment isn’t found in the coming weeks.
Tinybuild LON:TBLD was the biggest faller, off by 79%. The company issued a trading update this morning, noting that the first half performance had come in below expectations and that the year-end cash position was set to be significantly depleted. A boardroom reshuffle was also announced.
Microsaic LON:MSYS is back on the list, off some 35% on the day. Management confirmed that results would not be ready for publication by tomorrow, so the stock would be suspended from the market on Monday. This also confirmed that further funding would be necessary in Q3.
Ethernity Networks LON:ENET gets the notable mention, up 23% on the day. The company announced a $1.5m order from an existing and long-standing customer which drove interest in the stock although the price remains depressed following that funding news and trading update last month.
