SMALL CAP MOVERS: Blackbird invades the US; Genedrive is rising

SMALL CAP MOVERS: Blackbird invades the US; Genedrive rises as the Covid test is approved in India

Cloud-based video editing Blackbird increased its market value by just over a third this week as more US television networks took over their platform.

The company announced that, following its recent deployment by TownNews, an organization providing digital services to local media organizations, its platform will be used by an additional 18 broadcasters for digital news production.

It was time to bypass the mulberry bush for investors again, as luxury brand Mulberry said it exceeded expectations for the year through the end of March, which is why it expects to generate a small underlying pre-tax profit.

Shares rose 58 percent over the week.

Cloud-based video editing Blackbird said more US television networks have adopted their platform

Helium One was another on the rise, rising 36 percent to 1.525p after updating the market on the progress of its wholly owned Rukwa project in Tanzania.

A rig and equipment have been mobilized at a forward storage area while support systems and ancillary materials from China, South Africa, the US, Canada, Australia and the UK are en route.

Scirocco Energy, which holds a 4.3 percent stake in Helium One, grew 42 percent – a little more than Helium One itself this week.

Elsewhere in the natural resources sector, 88 energy stocks continued their bad year, rising 47 percent after the oil explorer announced results of analyzing sidewall cores, cuttings, mud gas and fluid samples from the Merlin-1 well in Alaska over the next few expected two to ten weeks.

Stocks have settled among the big small-cap companies frequently over the past few weeks and are likely to continue to do so for a while.

If 88 Energy makes a regular appearance in the small caps roundup, there are stories about the coronavirus too, and this week’s contestant is Genedrive, a diagnostics specialist.

The company announced that its Covid-19 polymerase chain reaction test has been approved by Indian regulatory agencies after achieving 100 percent sensitivity and specificity in a performance assessment conducted by the country’s Council of Medical Research.

It plans to start “commercial activities” through existing local distributor Divoc Health, the company said, adding that it will also “look for additional avenues to market”.

Stocks were up 30 percent this week.

Genedrive shares rose after it became known that the Covid-19 test was approved by Indian regulators

Industry colleague Abingdon Health went the other way after a disappointing trade update, losing 28 percent.

The company announced that it, along with its partners in the UK Rapid Test Consortium, is continuing to make progress in commercializing the AbC-19 rapid test in both the UK private sector and internationally. However, the speed of acceptance and thus the receipt of orders takes longer than originally expected by the Board of Directors.

As a result, the Board of Directors expects the results for the current year to be significantly below current market expectations.

The share price of the operator of the financial information website ADVFN practically doubled this week as the bid rumors resurfaced.

Former ADVFN director Yair Tauman increased his stake from 9.44 percent to 18.31 percent Limited and Shellhouse Limited, which together controlled around a quarter of the company’s shares (or even just under 40 percent if you use certain online message boards believe).

Sweet Sky and Shellhouse tried to move a general meeting to force a vote to remove all directors and appoint a new board of directors. In the end, the potential predators prevailed after breaking various stock exchange regulations.

It is not known what Tauman’s plans are, but regarding the issue of the exchange regulations being incorrect, ADVFN sniffed in its ownership change announcement that “Box 7 of TR-1 was filled in incorrectly”.

TR-1 is the standard for reporting large holdings.

Perhaps not by chance, ADVFN CEO Clem Chambers exercised options on a total of 411,473 common shares at a strike price of 14p per share the day after the change in ownership was announced.

ADVFN shares currently trade at 67.5p.


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