Stock Market Watch: EUA, PHE, VDTK, ZOE, ALBA, QFI, CAR & IXI

Stocks that may or may not make tomorrow’s papers, but should.

@ZaksTradersCafe

Russia focused Palladium group Eurasia Mining (EUA) saw its shares on the front foot late on Monday’s session, with traders suggesting the leak of fresh license news. The finger was pointed at the Russian tax office for the “leak”, as it apparently showed that Eurasia’s Monchetundra asset has a new exploration license. The shares peaked at new all time highs nudging the 25p level. A fresh RNS update was expected by some as soon as just after the market close.

Powerhouse Energy (PHE) bounced back 12% after the waste plastic to hydrogen specialist announced the successful completion of Engineering Definition at the Protos Plastic Park. Of more stock market interest was the company’s admission that Peel Environmental would roll out many more than 11 projects, with Peel itself mentioning 70 projects in its own press release.

Solar panel group Verditek (VDTK) added to the good sentiment around renewable energy companies, adding 15%, as buyers returned ahead of expected interim results next month, as well as the possibility of further contract win news. The squeeze higher came after recent persistent bear attacks on the company, proving once again that in the present ultra strong market for small caps, the short sellers continue to find the going tough.

“Vertically integrated” CBD company Zoetic (ZOE) saw its shares stretch back up to 2 years highs at 24p, up 9%, as talk of a major imminent distribution deal continued to do the rounds. This speculation has been added to in the recent past by Spreadex upping its stake in the company from 6% to 7%, and the way that last month Zoetic moved to streamline its cultivation strategy away from Colorado to work with a European JV partner in terms of hemp seeds stocks.

Diversified mineral exploration company Alba Mineral Resources (ALBA) continued its recent stock price recovery ahead of an investor webinar to be held tomorrow. The company said it was holding the webinar following recent positive newsflow from its Clogau-St. David’s Gold Mine. Executive Chairman George Frangeskides was set to be guiding investors on the future strategy for the group. The shares rose 13%.

Disruptive residual oil technology group Quadrise Fuels (QFI) was up again to start the week, with the stock up by nearly a quarter. The announcement of an issues of new share options seemed to boost the company yet further, as it continues to bask in the light of Friday’s announcement in which Quadrise said it had started trials with Greenfield Energy.

Face shields specialist Carlco (CAR) continued to feel the benefit of last week’s revelation of a solid Q1, as well as a rejig of its finances. The shares were up 20%, as investors chose to focus on these two positives, rather than the inability as yet of the group to provide any forward guidance at this stage. However, for the time being beating management’s Q1 expectations appears to have consoled the market.

Data analytics company IXICO (IXI) was riding high on the stock market leaderboard, as it had a well received trading update. The highlight was the call that profitability for 2020 would be ahead of stock market expectations. Given that this would amount to growth of 20% plus, it was understandable that the shares were up 23% to 85p.

Source https://zakmir.com/stock-market-watch-august-24/

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

(The opinions expressed here are those of the author, a columnist for Share Talk.)


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