Part of the raison d’etre of #StockMarketWatch is to fill in the gaps left by the mainstream media.
Although Fintwit can sometimes get criticised regarding ramping / de-ramping and its general Wild West / psychotic nature, when the influencers get it right the results can be impressive. This was the case in the run-up to the 36% rise in Echo Energy (ECHO), as the departure of a seller, and the arrival of a premium-priced gas contract. The only mystery here is why the seller was not able to hold on and enjoy the ride delivered in the wake of the news, although perhaps that would have spoiled the fun. The result was that many punters had a decent payday, given that the chart set up had been in play, as well as looking for the seller to be purged, with support near 0.4p ahead of a possible 0.7p chart target, on the cards for some days.
Another situation where there were apparent stirrings on the chart flagging a move ahead of time was at Physiomics (PYC). Here we were treated to a 73% jump off the back of the UK company announcing the extension of its programme of work with US pharma giant Merck. Indeed, Physiomics managed to make it two wins in a day, with it unveiling its partnership with Tabula Rasa, with the trial here targeting personalised dosing to help improve cancer patient outcomes.
“Cryptomania” continued for another session, and although it was Ripple leading the way in percentage gains, institutional demand for Bitcoin was said to be the driver. On this basis, it was hardly surprising that crypto miner Argo Blockchain (ARB) was up another 19% to 15p. In fact, it is still below its 17p post IPO price, so some traders may still regard the stock as being cheap given how much higher Bitcoin now is than it was in 2018. Indeed, digital asset app group Mode Global (MODE) also saw its share rise 5% to 41p amid the heady atmosphere for Bitcoin et al, having opened post IPO at 50p in October.
Speaking of IPOs, there was good demand for this week’s newcomer, Tirupati Graphite (TGR), where the vertically integrated graphite/graphene play has continued to build on its initial 45p float price. The shares closed at 55.5p, proving those who pointed out that Tirupati could follow in the footsteps of recent IPO successes in the resources area, Kistos (KIST) and Pensana (PRE), correct. It helped that Tirupati was able to announce winning its first order for new fire-retardant foam from a railway carriage maker in India.
Another recent stock market entrant, Helium One (HE1) saw its share price inflate by 12%. This was on the prospects for its vast Tanzania asset, where one investor suggested the gas was “seeping out from the ground”. The implication of an easy and relative quick extraction process for a gas which is a key part of the renewable energy / green revolution has even professional investors gushing at the group’s prospects for 2021.
Dividend-paying investment company Riverfort Global Opportunities (RGO) was back on the newswires as the dividend-paying investment company announced that it had signed a term sheet with Kodal Minerals (KOD) in order to acquire a 20% interest in Kodal’s West Africa gold assets. Riverfort will initially advance $150,000 of a total $2.5m. Ideally, Kodal will be looking for a potential value event by the end of October next year. For Riverfort the rationale of the deal was to gain more gold exposure to add to the Tanzanian Gold Corporation purchase earlier in 2020.
While there has been a tentative rebound in pharma and biotech plays since the positive vaccine news after the US Presidential election, the regrouping process has been slow. However, in the case of Tiziana Life Sciences (TILS), where only 15% of the company can be construed as a COVID-19 play, the move to the higher stock market status we have seen this year was underlined by Tiziana announcing its proposed admission to the main market of the London Stock Exchange and the cancellation of trading on AIM. Shares in the company – focused on oncology, inflammation and infectious diseases rose 11% on the news.
Also on the front foot, and getting rewarded for its bumping full-year results for the end of June 2020, metals processor Jubilee Metals (JLP). Here the shares stretched into the fresh higher ground for the year with a new closing high at 11.80p. This was helped along by a fresh TR1 from much-respected fund manager Slater Investments, as it opened its account on the Jubilee Metals shareholder register at 5.74%, providing validation for CEO Leon Coetzer.
Although native in-game advertising platform Bidstack (BIDS) still seems to attract the attention of the odd bearish blogger, with the shares gapping up 18% off the back of a bumper trading update, it would appear that any shorters left have the prospects of King Canute. This is because the company has noted a step change from brands wanting to activate within gaming, no doubt propelled by pandemic related contingencies. Bidstack promised to update the market early next year, so naysayers may have to bide their time at least until then.
(The opinions expressed here are those of the author, a columnist for Share Talk.)
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