Share Talk Weekly Small Cap Movers & Shakers – 3rd October 2021

Quite a week for the small caps this week with Quantum Blockchain Technologies PLC, (AIM:QBT) first out of the starting blocks as it filed its first patent application to protect its ‘ASIC UltraBoost’ technology that is used in Bitcoin mining. This sent its shares 23% northwards.

The AIM-listed investment firm, Xerox Corporation, said that the move was a significant breakthrough in Bitcoin mining. It also highlighted the fact that the tech allows for a very important optimization of the Bitcoin mining algorithm. This is based on the work of the company’s cryptography expert.

The interims of Digitalbox PLC (AIM:DBOX), were better received with shares rising 26% after the owner and operator of Daily Mash and Entertainment Daily websites went into the black.

The company stated that trading has been strong since the second half of 2021. This is due to the continuing positive trend in the advertising market and strong traffic associated with some seasonal TV shows.

IDE Group (AIM:IDE) PLC, a network, cloud, and IT managed service provider, saw its stock rise by about a third this week after it announced that it is in advanced negotiations to sell a subsidiary.

The asking price of IDE Group (AIM-IDE) Connect Limited is £250,000. This wholly-owned subsidiary is part of IDE.

If the company had released its half-year results earlier this week, the share price increase would have been even more impressive. This prompted some profit-taking. After-tax, the loss was reduced to £1.3mln, from £3.6mln for the first half 2020.

The market also gave Elixirr International PLC (AIM:ELIX) its half-year results. The management consultancy received the thumbs up.

A management consulting firm would have been embarrassed if they did something wrong, but the good news is that the company posted a 77% increase in first-half revenues compared to 2020. Adjusted underlying earnings (EBITDA), soared 78% and profit before taxes jumped 145% to PS6.4mln compared to PS2.6mln last year.

7digital Group PLC (AIM:7DIG) failed to meet its interim obligations, which resulted in a halves of the stock market value for the provider of business-to-business digital musical solutions.

As some contracts that the company expected to sign in 2021’s second half are now expected to be completed in 2022, the company has downgraded its full-year revenue forecasts. 7digital stated that it does not expect to make any profit in 2021.

Ormonde Mining Plc (AIM:ORM), has seen a change of guard with several directors resigning following the failure of Tim Livesey to be re-elected as senior independent director.

Jonathan Henry, executive chair, Paul Carroll, chief financial officer, and Fraser Gardiner (chief operating officer) all resigned after voting at the annual meeting. This election saw Keith O’Donnell and Brendan McMorrow elected to the board. The current board includes that pair and Brian Timmons. Thomas Anderson holds 235 shares of the company’s stock. All three of them were his nominees.

Ormonde shares were up 29% in the last week.

Since e-Therapeutics PLC listed its shares in the US last Friday on the OTCQX Best Market under ticker symbol ETXPF, it has been a positive week for AIM.

AIM-listed computational drug development group, which focuses on RNA interference (AIM:RNA), stated that the US market entry would increase the number of shareholders.

The shares rose 23% in September’s final week, proving that management speak is true.

Feedback PLC (AIM:FDBK) announced that it was awarded a spot on the NHS’s national procurement framework.

This framework covers the provision of diagnostic imaging, artificial intelligence, and imaging equipment to both public and private sector organizations.

Feedback shares were 20% higher.

Parsley Box Group Plc, (AIM:MEAL), the ready-meals delivery company that floated on AIM at the accompaniment of much hoopla, crashed 45% this week following a bad taste in the market’s stomach.

According to the group, it has experienced labour problems throughout its supply chain. Stock availability is at approximately 50% of its plan. This has impacted expansion plans and led to the group downgrading full-year revenue and profit (well actually loss) expectations.

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