Stock Market Watch: RMS, VRS, ICON, AST, GDR, ARB & SLE

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

By @ZaksTradersCafe

Rather interestingly, while we are on the edge of our seats with reference to Remote Monitored Systems (RMS) and its anti-viral face mask, it was the turn of Versarien (VRS), to provide an update on its graphene enhanced face masks. The company reported that after testing of prototypes of the latest version of its non- valve mask, it has been certified as meeting the FFP3 standard, the highest standard under the European EN149 standard for filtering half face masks. Shares of Versarien edge up 1% to 49.3p.

Speaking of Remote Monitored Systems (RMS), and the market was serenaded by a RNS pointing shareholders to information on its website regarding questions and answers in relation to the forthcoming general meeting on Friday 12 February. Here the world awaits the outcome of the now legendary warrants debacle, something which makes whether to leave the EU now seem like a trivial matter. Perhaps just as noteworthy was the 17% rise in the shares, perhaps an indication that the market has moved on from the warrants issue, whatever the result on Friday.

It would appear that Iconic Labs (ICON) has managed to have more lives than a cat, perhaps much to the frustration of the bears. Nevertheless, the latest here is that there has been a new arrival at the new media group, Stephen Birrell. He enters the fray as an independent Non-Executive Director at Iconic, something which may be described as a challenge that arguably makes the North Face of the Eiger look like a walk in the park. Mr Birrell’s current gigs are at Ascent Resources (AST) and Ossian Energy.

There was a decent day in the sun for shareholders of Emmerson (EML) as the Moroccan focused potash development company said it had received the Mining Licence for its 100% owned Khemisset Potash Project. This is set to provide Emmerson with the exclusive right to develop and mine the potash deposit in the Khemisset basin ahead of the anticipated initiation of construction by the end of 2021. The news was greeted by a decent 12% share price rise for Emmerson stock.

With the stock market it can be better to travel than arrive. However, so far in the case of Genedrive (GDR) both the travelling and the arriving has been equally pleasant. The shares rose another 14% the day after announcing that it has entered a distribution agreement with Beckman Coulter Life Sciences to sell and distribute Genedrive’s SARS-CoV-2 kit in both the US and Europe. The kicker for the ongoing rise in the shares is the run-up to the commercial launch of the test later this month.

Arguably, the biggest and best story of the month on the financial markets for private investors has been the crypto bandwagon, eclipsing the death of the Gamestop rally. This was highlighted by the news that Tesla had bought $1.5bn worth of Bitcoin, with the obvious beneficiary of this being to the ongoing bull run of crypto miner Argo Blockchain (ARB). Its shares rose another 10%, as Bitcoin itself seemed set to clear $50,000 imminently.

While it may be the case that the effect of the pandemic has been to slow matters down for many sectors, it would appear that in terms of San Leon’s (SLE) investment in the Oza Oil Field things are nearing completion. The company said at the beginning of this month it was close to concluding the funding arrangements, and it anticipated being able to start the project promptly. This anticipation has clearly been enough to deliver another 18% rise for the share price

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

Source 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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