Sentiment may be waning on the main board, but collectively, AIM stocks posted another day of gains on Tuesday. The Index finished just under six points higher at 1012.89.
- Staffline up 19%
- Shoe Zone up 19%
- Remote Monitored Systems down 26%
- Victoria Oil and Gas down 21%
- Ncondezi Energy up 13%
Staffline [LON:STAF] found itself at the top of the pile on Tuesday with shares in the recruiter adding a healthy 19% by the close. There’s no firm news here but the valuation has fallen a long way in recent years, with COVID serving up a final blow. There are signs of stake building here so there may be speculation of a bid emerging, but for now there’s nothing concrete to support the gains.
Shoe Zone [LON:SHOE] wasn’t far behind, also tacking on just under 19% in an exceptionally busy day of trade. Results issued three weeks ago served the share price another blow in what has been a year of turmoil for many retailers. However as potentially one category that has longevity with a physical presence, are investors thinking that brighter days have to lie ahead?
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Remote Monitored Systems [LON:RMS] is back in focus, accruing another day of losses, not helped by news that the chairman had sold down two thirds of his stake. As we noted yesterday, anti-viral fabrics have applications beyond COVID, but when senior management look for the exits as shares sit at all time highs, it’s understandable that investor confidence takes a knock leaving shares down a further 26%.
Victoria Oil and Gas [LON:VOG] slipped 21%, with the upside from last week’s litigation settlement news starting to slip away. Shares are still trading at a healthy premium to where they say at the start of the month, but the absence of further news appears to be encouraging profit taking.
A notable mention from Ncondezi Energy [LON:NCCL] who we looked at yesterday. Their shares rose 13%, helped along by a major shareholder who recently joined the board upping his holding to close on 20%. In the absence of other news, that vote of confidence alone could well be responsible for these latest gains.