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.
- Small Cap Stocks: URU Metals, Armadale Capital, Phoenix Copper
- Small Cap Stocks: Global Petroleum, Cropper (James), Redx Pharma
- SmallCap Stocks: T42 IOT, Cordel, Merit
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.