Part of the brief of Stock Market Watch is to anticipate tomorrow’s winning stocks today.
It has perhaps been somewhat surprising that October to date has been a relatively weak month for shares of 4d Pharma (DDDD) going into the latest news regarding a merger with Longevity Acquisition Corporation and perhaps more importantly, a $14.6m cash injection as well as a Nasdaq listing. Not surprising the shares were up 23% to 115p, but they are still way off the dizzy heights of 180p plus seen briefly at the beginning of the month.
The stock market at the small cap end tends to like binary bets in penny stocks, with this being a case in point as far as natural resources group Ascent Resources (AST). Here the long running saga is its dispute with the Republic of Slovenia. Although perhaps instinctively one might have thought it was something of an unequal battle, investors seemed happy at the news that direct negotiations are now to take place between the two parties. The shares rallied 21% as investors were happy to stand on the cliff edge of destiny.
There was a solid looking 3p rise for Deepverge (DVRG) to 27p, as the company formerly known as Integumen returned to favour. Nevertheless, the stock is still well off the brief 70p peak seen last month when the market had yet to digest the offer for Modern Water. The company’s CEO Gerard Brandon tweeted that “Deepverge expect a rollout in 2021 involving a large consortium of partners in revenue-share large scale supply chain and sales, marketing and distribution channels in the US, EU, China, and Japan” – all of which sounded pretty comprehensive.
Shares of data science specialist Jaywing (JWNG) added 13% in the wake of news earlier this week that the two directors of Masssive Group in Australia have exercised their put option with relation to the 25% of the shares in the company held by entities controlled by the directors, not already owned by Jaywing. Indeed, it was surprising that the stock rallied after the revelation of such a tortuous sounding announcement.
Zephry Energy (ZPHR), the former Rose Petroleum, announced an update on its Rocky Mountain region project in the Paradox Basin, Utah. Here the company said it was in the run up to spudding the State 16-2 well, helped along by a $600,000 initial tranche of Department of Energy funding which will be going to cover near term costs at the group.
One of the stock markets highest share price riser of the month, Alien Metals (UFO) revealed that it had executed an Earn-in agreement with Capstone Mining regarding its Mexican copper project. The result of the deal is that Alien Metals will receive $290,000 in cash payments, and $3.6m in expenditure by Capstone.
(The opinions expressed here are those of the author, a columnist for Share Talk.)
Zakmir.com is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here.
If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned