Stock Market Watch: SYME, PIRES, 7DIG, BID & OKYO

What may or may not be in the papers

@ZaksTradersCafe

Inventory monetisation specialist, Supply@Me (SYME) saw its shares rise another 75% to close at 0.57p, marking a near 10 fold gain so far this month. Speculation surrounding the company has been rife since last week’s announcement that a MOU has been signed regarding expansion into the Middle East region via iMass LLC. This was further underpinned by iMass’s estimation that the market for inventory monetisation in the UAE could be as great a $50bn. Supply@ME’s current market cap is £187m. According to the July 27 trading update, Supply@Me had initiated feasibility studies to assess the rollout of its inventory monetisation model in geographies both inside and outside Europe, with a target to start a pilot programme in the UK by the end of 2020.

Shares in tech investor Pires Investments (PIRES) were up over 10% as it was revealed serial entrepreneur Chris Akers had upped his stake in the company from 17.1% to 18%. This follows on from news last week that investee company, GetVisibility, has signed a public sector distribution agreement with immixGroup, a distributor of enterprise IT for the U.S. public sector.

One of the best risers of the day was once again music solutions and services group 7Digital (7DIG), as it held onto the bulk of its 175% share price gain. The was despite a so called “speeding ticking” announcement late in the trading session. Such announcements are a quirk of companies listed on the AIM market of the London Stock Exchange, and are arguably a boon to short sellers who can add to pressure for a company to release such statements. 7Digital stated said it was not aware of any reason for the share price movement”, a near 10 fold gain in the past 3 weeks. However, the company “notes the recent movement in its share price following increased press and market comment regarding Triller Inc., in particular the US President’s recent usage of its App.” 7Digital also unveiled a 3 month extension to its 2019 result, to be unveiled in September.

Bidstacks (BID) was a highlight once again as the in-game advertising group saw its shares rise another 32%, peaking at 8p at one point, up from below 5p at the start of this month. With its sector already helped by the surge in interest in online and computer games due to lock-down, this has been added to by Bulletin Board fuelled speculation regarding VW using in-game advertising campaigns to attack the growing number of participants in this space, via Bidstacks platform.

Shares of biotech Okyo Pharma (OKYO) rebounded by as much as a quarter following coverage of the company in the Mail On Sunday regarding the possibility of a new high profile scientist appointment. This made back some of the recent profit taking in the stock on hopes that the new arrival could deliver a fresh blockbuster treatement to the company. Indeed, it remained firm going into the close and the announcement soon after of final results for the year ending March 31 2020. Given the way that losses were revealed to be narrowed to £1.2m from £3.8m and that £1.9m had been used to buy Chemrein-101 license, traders expected that the latest recovery for the stock may continue. Okyo said it “will explore and identify novel BAM8 (OKYO-201) analogs” and that the main use “of the group’s funds was progressing the animal model trials for Chemerin and BAM8.”

ZAK MIR 300x200 - Stock Market Watch: SYME, PIRES, 7DIG, BID & OKYO

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

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

Source https://zakmir.wordpress.com/2020/08/17/stock-market-watch-august-17/


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