Part of the raison d’etre of #StockMarketWatch is to fill in the gaps left by the mainstream media.
Although shares of Guild Esports (GILD) broke their technical downtrend on Tuesday 17 November with an end of day close through 5.8p, it was not until the end of the week that the stock finally started to flourish. This was illustrated by a 1p rise to 7p to end the week, backed by a Schroders TR1 debuting at 5% – hard to quibble with. This came the day after the company announced that Guild Esports had entered into Fortnite, with the signing of top-ranked player Nikolaj Froslev.
There was finally relief in camp Remote Monitored Systems (RMS), as with a little delay following the departure of investor Braveheart (BRH), the shares rose 10%. The rather obvious clue to the rebound was perhaps the way that RMS shares only briefly lingered below the exit price of BRH’s last tranche at 2.66p. The catch for would be bargain hunters was to trade in this area for an extra couple of sessions, scaring out weak bulls before the close on Friday at 2.98p. Bulls of the stock on social media were pointing to RMS investee company Pharm2farm beefing up capacity of its anti-viral face masks, mainstream media interviews and even political lobbying of the local MP. They also suggested there were shorters in the stock attempting to prevent a rebound, so far in vain.
A 20% share price rise was the result for IQ-AI (IQAI) to close at 12p, as traders suggesting that the two FDA approvals the tumour analysis software specialist has could trigger pharma group interest. This was particularly seen as coming from the US. Earlier this month the stock nearly quadrupled in the wake of Imaging Biometrics, a subsidiary of IQ-AI, entering into an agreement with Mayo Clinic to develop a brain lesion tracking platform, IB Trax. The collaboration’s objective was said to be the development of an innovative AI technology to track metastatic and primary brain tumours.
It would appear that the new website that mining exploration and development company Alien Metals (UFO) announced the previous session was money well spent, as the stock rose strongly for a second session running . The result was a 15% rise to 1.52p . Apart from the new website there was speculation that the final Mexico licenses could be announced over the next week.
Arguably the company on the London stock market which pound for pound issues the most RNS’s is Power Metal (POW). Evidence for this came off the back of an opening TR1 from Mohamed Quraishi, opening his account with a 3.39% stake. The shares edged up 3%, on the same day that the metals exploration and development company said it was pleased to announce the commencement of the second diamond drill hole at the Kalahari Key Mineral Exploration Molopo Farms Complex Project, targeting prospective massive nickel sulphide and platinum-group metal mineralisation in Botswana.
After not really going with the great biotech / pharma recovery of 2020, it was the turn of ImmuPharma (IMM), the specialist drug discovery and development company, announced an update with respect to the new optimised international Phase 3 trial of Lupuzor™ in systemic lupus erythematosus. The FDA confirmed the date of 4 December 2020 for a Type ‘A’ Meeting Request, with Avion Pharmaceuticals, ImmuPharma’s licensing partner for Lupuzor™. Shares of ImmuPharma rose 15%.
(The opinions expressed here are those of the author, a columnist for Share Talk.)
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