Part of the raison d’etre of #StockMarketWatch is to fill in the gaps left by the mainstream media.
There was intrigue all around at stock market gossip generator and erstwhile Pharm2farm owner Remote Monitored Systems (RMS). Here traders were speculating on the future of the incumbent dynamic duo on the board, Paul Ryan and Trevor Brown, and whether one or both might fall on their sword. At stake is not only control of the company which they might have cede to major shareholder Dr Gareth Cave, and his private investor fanbase, but also the fate of the recent £5m fundraise / associated warrants. Interestingly enough, with the stock having been battered by all and sundry before the raise, including being flagged by RMS itself, it would be logical to assume that if the forthcoming dilution was abandoned the stock would rebound. Even if the placing remains, it might be considered the production delays / boardroom shenanigans are in the price.
With a wall of buying coming in for tech investor at the end of last week to take the shares through 10p versus 0.15p at the beginning of the year, bulls of All Active Asset Capital (AAA) might have been hoping that a fresh leg to the upside may be on its way. Certainly, the latest close with a 22% rise to 14.3p in the wake of last week’s option agreement with AAQUA, was once again heavily backed, with the suspicion being that the break into double figures has unlocked the floodgates in terms of momentum buying.
Indeed, so inspirational was the move in All Active that some in the market were looking for “the next AAA.” To this end Nakama (NAK) was picked out as the next multi-bagger contender -rising 0.8p to 1.47p. This was purely on the basis that recent TR1s coincided with investors who had previously been on the shareholder register of AAA. That said, such one plus one equals three logic does not necessarily work well when it comes to the microcap end of the stock market.
More usual fayre was provided by pharmaceutical services group Open Orphan (ORPH) where it proved that it can not only win contracts but renew them. In this instance, the world leader in vaccine and anti-viral testing using human challenge clinical trials announced a successful contract extension with a top three pharmaceutical client. This was, according to Open Orphan, enough to underpin revenue growth expectations through to the end of 2021, with the stock edging up 0.3p to 23.1p.
Switching sectors, and it was the turn of copper / gold specialist Xtract Resources (XTR) to update on the drilling at its Bushranger Project in New South Wales, Australia, which began last week. The company said that it was very encouraged with the copper mineralisation intersected to date in the first hole of its three-hole Phase One drilling programme at the Racecourse Mineral Resource. It added that substantial copper mineralisation commenced at a depth of 110m and continues to the current depth of the drill hole at 213.1m. Xtract shares notched up slightly to 1.55p.
After recent basing price action for shares of biotech Tiziana Life Sciences (TILS) and stronger price action since the announcement of the move from AIM to the main market, we saw the shares put on another 8% to 94p in the wake of a broker upgrade for its US listing. That was initially trading around the $2.17 level until news broke that the stock had been initiated as a buy at B. Riley Securities, with a punchy $8 target. Tiziana in the US has traded as high as $12 at its July peak this year, eventually closing at $2.49 in its US manifestation.
(The opinions expressed here are those of the author, a columnist for Share Talk.)
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