Part of the raison d’etre of #StockMarketWatch is to fill in the gaps left by the mainstream media.
It is usually a very positive sign if a stock rises after placing news. In the case of Wishbone Gold (WSBN), the market gave the exploration and development company a clear thumbs up with an end of day close at 13.1p versus the announced raise of £1.75m at 10p. Such a 30% plus premium on the day suggests that traders were happy to” bite the hand off” the shares in the wake of the news with strong cash reserves to push forward with exploration on the new Red Setter Project in the Patersons Ranges near Telfer in Western Australia. The company said it would extend exploration efforts in Queensland to include the newly applied for Wishbone 6 EPMA, which adjoins Wishbone’s other leases just north-west of the Ravenswood Gold Mine.
Blue Star Capital (BLU) was a 33% riser despite no news from the company, with investors both gushing over the company’s esports exposure via Dynasty eSports, and its SatoshiPay investment. One trader suggested that the valuation of SatoshiPay could be several million pounds, something which compares to the present market cap of the whole of Blue Star of £9m. Imminent news from the company was generally anticipated in what was a typically festive trading pattern around the shares.
Having sold enough shares in Remote Monitored Systems (RMS) of late to buy enough Christmas presents for a small city, Trevor Brown was at it again at Braveheart (BRH), where he and Vivian Hallam sold 945,000 and 260,980 shares respectively between 20p and 22p. Mr Brown now has 20.6% of Braveheart, although given his recent pattern of trading it might be wondered how long this state of affairs may continue. Shares of Braveheart closed up 11.75p at 23p after having paid out its hefty RMS dividend, with one or two perhaps rather less experienced traders thinking that the stock was all of a sudden going cheap.
Shares of inventory monetisation specialist Supply@Me Capital (SYME) continued to defy the bears with an 18% rise. The company appears to have successfully joined all the dots for investors in the wake of its November 30 trading update, with the stock gaining momentum since then. In particular Supply@Me said that it has progressed with all three of its funding channels.
Digital music solutions group 7digital (7DIG) put on 29% as it said that operational profitability had been achieved as expected. The company said it had been capitalising on its leading music platform and made progress in social media, home fitness and artist monetisation.
It is normally a solid sign for a stock when a major shareholder adds to their position. Indeed, with biotech group Tiziana Life Sciences (TILS), we saw Executive Chairman Gabriele Cerrone buy another 35,000 shares at 78p – just above the recent lows for the stock. This comes after Tiziana has retreated from its summer highs in the wake of the general decline in many “COVID-19” plays, despite exposure to this area only making up some 15% of the portfolio. Earlier this autumn Tiziana spun off its breast cancer diagnostic division, Accustem. Cerrone now owns just over 34% of Tiziana.
(The opinions expressed here are those of the author, a columnist for Share Talk.)
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