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SmallCap Round Up: Verditek, RedX Pharma, Cordel

SmallCap Round Up: Verditek, RedX Pharma, Cordel

Tuesday’s optimism has proved short lived with the AIM Index taking another step lower on Wednesday, reaching the bell down more than 16 points at 811.38.

  • Verditek +23%
  • RedX Pharma +21%
  • Cordel +15%
  • Borders & Southern -16%
  • Uru Metals -15%

Verditek LON:VDTK was the day’s biggest gainer, advancing by a relatively modest 23%. That’s within the quoted spread but the stock has seen significantly elevated levels of interest during the session.


RedX Pharma LON:REDX added 21% off the back of an update this morning regarding Jounce, a company it had already agreed to merge with. Jounce has now received an unsolicited approach from a third party, but despite this arguably generating uncertainty and leading to a bidding war, RedX found support off the news.

Cordel LON:CRDL gets the notable mention, up 15% off the back of contract news. The company has been awarded a piece of work by Amtrak valued at $6.7m over 18 months. To put that in context, H1 revenues to 31st December 2022 were just under £1m.

Borders & Sothern LON:BOR slipped 16% on the day, bit volumes were unremarkable and the move was well inside the spread.

Uru Metals LON:URU was down 15% but there was very limited trade undertaken during the day and the spread was quite literally wide enough to drive a bus through. This however pushes the stock down to levels not seen in almost three years.

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