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The AIM all share index drifted during Thursday’s session and although losses were limited, it closed almost 4 points lower at 969.94, shunning that test of highs for the year – at least for now.

  • TriStar Resources up 24%
  • Prophotonix up 24%
  • Wandisco down 27%
  • Safestyle UK down 19%
  • Notable mention DX Group down 10%

A delay in reporting results would typically lead to a degree of caution amongst investors, but Tri-Star Resources [LON:TSTR], which advised last week that it needed an extra month to file, has been looking buoyant in recent days. Shares added around a quarter of their value and whilst volumes were inflated, there seems to be little to support the move higher – at least for now.

Prophotonix [LON:PPIX] also fared well, again adding 24% although there’s little to support the move higher. The company – with a mere £3m market cap – attracted some interest with last week’s interim earnings note but given the 27% uptick in profitability, the stock perhaps didn’t get all the upside it deserved the first time round.

Wandisco [LON:WAND] seems to have fallen short of investor expectations. The company announced on Thursday a partnership with Amazon Web Services but looking at the chart, it seems that investors have been happy not only to sell the fact, but the rumour, too. Shares were trading above 650p three months ago and shed a further 150p yesterday to close at 420p, sporting a close on 8% spread to boot.

Double glazing specialists Safestyle UK [LON:SFE] posted interims yesterday and again these were met with a frosty response. COVID-19 has clearly taken a toll, knocking a third off revenues and although there has been a significant uptick in demand since the lockdown eased, there’s also a lot of uncertainty over what happens next.

A shout out for DX Group [LON:DX] whose shares had a turbulent session in the wake of full year results. Delivery firms have typically been amongst the beneficiaries of the lockdown but the meaningful move into profitability and strong comparatives as the company moves into the new financial year still seem to be underwhelming investors. The company’s shares have had a good run in recent months, but whether the reversion is warranted remains to be seen.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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