Stocks that may or may not make the grade in the papers
Shares of New Trend Lifestyle Group (NTLG) became the latest minnow to grab the limelight, as the stock soared 243% to end the week. This came after the previous day’s announcement regarding a change of name to Conduity Capital (CCAP), with shares of the cash shell starting their trading in the new guise on Monday 5 October. Traders were hoping that with new NED Nicholas Lee of Pires (PIRI) fame, the stock would see the same kind of positive form seen at the likes of that company and many more shells so far this year.
Tech investor Pires (PIRI) was in the news itself as its investee company Ambisense launched its analysis platform. This provides for air quality monitoring to asses the risk of COVID-19 in a particular commercial or public building. Shares of Pires climbed 3%.
Shares of for sale palladium group Eurasia Mining (EUA) rise for the second day in a row by a double digit percentage, as traders continued to digest the implications of its recent ultra tight-lipped interims statement. They also noted that despite the latest rise by 27% on the day, there was no “speeding ticket” RNS to explain the reason for the rally – as is typically the case on the AIM market.
David Beckham’s esports vehicle Guild (GILD), in which Blue Star Capital (BLU) is a significant shareholder had a reasonable start to trading on the London market, closing just above the 8p placing price. The company raised £20m in the oversubscribed placing, hopefully enough to cover some of the decade of losses of Mrs Beckham’s fashion business. Although esports have been touted as the new rock and roll post COVID-19, so far the reality has not quite lived up to the growth projections at least in terms of companies exposed to it on the stock market.
Tlou Energy (TLOU) managed a 20% rebound, as the Botswana and South Africa focused power group was trading in the wake of final results on September 21. In addition, Managing Director Tony Gilby did serve up an interview regarding the company’s search for a finance partner at the Lesedi Project earlier in the week.
Shares of Toople (TOOP), a telecom services provider to UK SMEs ended the week on a positive note, with the result a 16% gain. This came in the aftermath of the company’s trading statement on September 29, in which it boasted of £1.6m of annualised savings, as well as the prospect of the business becoming far more cash generative. In addition, investors were anticipating the prospect of a recent overhang in the stock finally being cleared and allowing for a sustained rally after the improved fundamentals.
Given the revelation that Donald Trump has tested COVID-19 positive, it was the turn of stocks exposed to the pandemic’s growth to rally once more. This was the case as far as COVID status technology group Catenae Innovation (CTEA), as the shares rose 9%. The market continues to wait on deal news over and above the Afrik-ID pilot announced in July, and the first commercial use of its Onsite ID app in August.
Rurelec (RUR) remained unchanged, despite recent investor interest in the stock. This came after international power generation group unveiled its interim results on September 15. Traders pointed to the way that the company has zero debt, but is owed $14m to be paid back in monthly instalments. All of this relates to a company which currently has a market cap of £5m.
(The opinions expressed here are those of the author, a columnist for Share Talk.)
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