Small-cap stocks often experience significant price fluctuations, which is characteristic of lower-value securities. However, the increase in value that Mirriad Advertising PLC (AIM: MIRI, OTCQX: MMDDF) experienced this week was extraordinary.
The AIM-listed ad tech company’s market capitalization more than tripled by Friday, even momentarily surging 500% on Thursday. The reason for this impressive growth was the announcement of Mirriad’s collaboration with Microsoft to develop a new application programming interface (API) for integrating Microsoft Azure cloud computing and AI capabilities for various client-driven use cases.
Mirriad’s patented SceneFinder technology, which allows companies to insert product placements into existing visual content, is considered ingenious. The partnership with Microsoft aims to scale and expand these possibilities.
CEO Stephan Beringer called the partnership with Microsoft an “important milestone” and said it could “unlock significant benefits and opportunities” for both parties.
Other noteworthy developments in the AIM market this week included Longboat Energy’s 126% increase after striking a deal with Japan Petroleum Exploration Co (Japex), and Bushveld Minerals Limited (AIM: BMN, OTC: BSHVF) surging 20% on Friday.
On the downside, Orosur Mining Inc (AIM: OMI, TSX-V: OMI) lost about a third of its market value, and Zytronic (AIM: ZYT) saw a 27% decrease in value after the release of the UK’s new gambling white paper.
Mixed signals were observed in the automotive segment of the AIM market, with CT Automotive Group PLC (AIM: CTA) shares falling around 9% while TI Fluid Systems PLC (LSE: TIFS) shares rose 18%.
Lastly, Aptamer Group PLC (AIM: APTA) experienced a dramatic 50% drop in shares on Friday due to lower-than-expected full-year revenues.
The AIM All-Share Index ended the week with a modest 0.6% increase to 826.77p, and no notable delistings occurred on the AIM market over the past five days, which was seen as a small positive.
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