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Stock Market Watch: KNB, AAA, GDR, ORPH, DVRG, MSYS, ARB, MODE, OBC TRD, BRSD & COPL

Part of the raison d’etre of #StockMarketWatch is to fill in the gaps left by the mainstream media.

By @ZaksTradersCafe

In a rampant bull market, such as 1999, and 2021, it is perhaps not whether you make money, but how much you make. In the case of medical cannabis group Kanabo (KNB), many were content to exit on the first day of trading, doubling or tripling on the 6.5p float price. However, against the odds, there was the chance of an eight-fold gain at best versus the 50p plus peak seen on day two. The shares closed up 120%, with the 40p plus close an impressive achievement.

A situation where the media spotlight seems to be ramping up, albeit after a year of heft gains, is at investment group All Active (AAA)*. Here the shares were already on the front foot in the wake of positive coverage in The Times. But they shot up 15% off news that AAA has entered into subscription option agreements for up to 100 million new ordinary shares in AAA and is exercisable at 50p per new AAA Share with Ramsey Consultants Ltd and Candy Ventures SARL. The companies are the investment offices of David Rosen and Nick Candy, both ultra-high net worth investors. Shares of AAA were standing around 30p prior to the announcement. They jumped 17% to 35p on the close, still some distance from the subscription option agreements price of 50p.

After a bear trap effect sub 130p, the Genedrive (GDR) “barmy army” of its private investors were rampant once more, as the testing company announced it has now shipped its first 96 SARS-CoV-2 Kits to the USA where manufacturing company, Beckman Coulter, will now commence initial sales activities. The stock price rose 10% to 143p.

The newsflow from pharma service group Open Orphan (ORPH) continues to be of AAA grade in the sense that the latest here being the world’s first COVID-19 characterisation study has received approval from a specially convened Research Ethics Committee. Open Orphan said the initial virus characterisation study will inoculate up to 90 volunteers, between the ages of 18 and 30 years old, to enable identification of the most appropriate dose of the virus needed to cause COVID-19 (SARS-CoV-2) infection in a safe and controlled environment. The study is set to commence shortly and is funded by the UK Government. Shares of Open Orphan rose 6% to 30.4p, an all time closing high on strong volume.

DeepVerge (DVRG), the environmental and life science AI company, was also back in focus. It announced that since the offer for the acquisition of Modern Water plc was completed on November 17, 2020, contractual obligations have been signed for the production of water contamination equipment. These are mostly for the Chinese market and worth $5 million USD (£3.6m). The orders are expected to be delivered during the current financial year ending 31 December 2021. CEO Gerard Brandon said, “The automatic detection and identification of Modern Water’s reagents by our equipment ensures optimal monitoring as our tests are a regulated benchmark and, importantly for the Company, generating recurring income from these consumables.”

There appeared to be twin drivers to the upside for Microsaic (MSYS), as the shares of the mass spectrometry producer for point-of-need analytical detection basked in the afterglow of this week’s signed non-binding Heads of Terms with DeepVerge to enter a multi-year Framework Services Agreement.  The company has also been underpinned by last month’s announcement of a £250,000 investment by life science investor Intuitive Investments Group (IIG). Social media speculation that the group could be a player in the CBD space also helped sentiment towards the stock.

With Bitcoin surging well above the $50,000 level, it was difficult to avoid the ongoing Gold Rush in this particular space. The result was another 17% rise for crypto miner Argo Blockchain (ARB), an improved performance by Bitcoin app Mode Global (MODE), rising 12%, and Online Blockchain (OBC) up 30%. The “new” play as identified by some eagled eyed traders was Triad (TRD). Here the stock was up a whopping 58%.

Also in the tech space, we witnessed a 3% rise for cybersecurity group Brandshield Systems (BRSD). Here the shares were lifted by news that the recently listed company has partnered with VSC , the agency that accelerates tech brands into vertical market leaders. Brandshield said that VSC was selected for broad U.S.-based communications and media relations, as well as support for global campaigns in the fight against fraud, phishing scams and other digital threats with an emphasis on Covid-19 vaccine-related scams.

There has been something of a slow grind higher for shares of Canadian Overseas Petroleum (COPL) since the announcement of the international oil and gas exploration and development company having repaid in cash the balance of the loan from Riverfort Global Opportunities (RGO). However, a sudden spike in the share price of Canadian mid-session rather implied that the “nearing of the completion of the Atomic acquisition” mentioned by the company on February 8th, could be imminent. Clearly, the backdrop of a $60 plus barrel WTI price does the share price no harm either.

*The author owns shares in All Active Asset Capital (AAA).

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

Source https://zakmir.com/stock-market-watch-aaa-arb-brsd-copldvrg-gdr-knb-mode-msys-orph-obctrd/

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.


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