Part of the brief of Stock Market Watch is to anticipate tomorrow’s winning stocks today.
With stock market conditions remaining weak, it was all the more revealing to see which shares were on the up – especially without news. For instance, Open Orphan (ORPH), the fast growing pharma services at the heart of the COVID-19 battle rose 13%. Having signed a significant contract with the UK Government earlier in the month, and with the pandemic tide starting to rise again, it was evident that some traders were better on fresh contract flow at Open Orphan sooner rather than later.
Hitherto unpopular tech investor Tern (TERN) was top of the pops with traders, sporting a 24%. This was delivered in the wake of a webinar showcasing one of the company’s key portfolio investment, Wyld Networks. The excitement centred around the current interest in “track and trace”, with Wyld’s mobile mesh technology’s ability to create new applications in consumer and enterprise networks and monitor social distancing.
Also in the COVID-19 related tech space, there was a solid 33% share price rise for Catenae Innovation (CTEA). This came as something of a slow burn reaction to the company’s announcement a couple of weeks ago regarding a joint venture with BHA-Medical. This involved the supply of 350,000 COVID-19 antibody tests to businesses in the UK – including two FTSE 100 companies. The market now awaits news regarding how much revenue the JV may have delivered.
It was a day when some recent winners kept on delivering for their backers. Remote Monitored Systems (RMS) sat on top of the stock market leaderboard with a 73% rise, with the company’s new focus on anti-viral face masks continuing to delight investors. The last we officially heard from RMS was a speeding ticket RNS earlier this week, when the company said it knew of no reason for the share price rise. This of course failed to stem recent ongoing gains in the stock where traders were expecting news to land imminently. Shares of Braveheart (BRH) which is a significant stakeholder in Remote Monitored Sytems rose 20% in sympathy, and were expected to play catch up over the near term.
Fresh lockdown and COVID-19 cases misery meant it was a positive day for the pandemic ambulance / coffin chasers on the stock market. Coronavirus testing kit group Novacyte (NCYT), which has been one of the largest stock risers of the year was not only up 20%, but back above the £10 level.
It was a better day for David Beckham co-owned esports group Gild (GILD), as the market stopped fretting about how much of a payout the former football start is set to make from his relationship with the company, to how much money Gild may make itself. The 9% share price rebound came in the wake of a £3.9m sponsorship deal signed earlier this month.
Another stock rising sharply without news was Anglesey Mining (AYM), with a 20% gain, something which suggested news could be in the offing. The last that investors had officially heard from the mining group was an issue of equity earlier in October, and that a Preliminary Economic Assessment was in progress on its Parys Mountain copper, zinc, lead, gold and silver project, located on the island of Anglesey in North Wales.
(The opinions expressed here are those of the author, a columnist for Share Talk.)
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