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Stock Market Watch: 26 August

This post was written by Zak Mir, a Technical Analyst, Events Host, Presenter, CEO Interviewer and established Market Commentator

4d Pharma (DDDD) proved once again that 2020 has been the blow the lights out year for pharma companies of all persuasions, not just those on the Covid-19 bandwagon. It revealed that a combination of tumour attacking drug MRx0518 with immune checkpoint inhibitor Keytruda, can have a significantly beneficial effect on those with advanced kidney cancer. The shares put on 25% to 98%, but are still off what they were trading at over the turn of this year.

Shares of consumer credit group, Provident Financial (PFG) appeared to underline the notion that the recent selloff in the stock had already factored in the tough fundamental backdrop. The rise of nearly 20% was helped along by the company’s move to shore up its balance sheet and delay resumption of dividend payments. Perhaps counterintuitively, arrears amongst its customers have returned to close to pre-pandemic levels.

All Active Asset Capital (AAA) was high on the stock market leaderboard, boasting a near 20% rise, as buyers returned to the stock after the suspension in Asimilar (ASLR) was lifted earlier this week. As the market awaits news on Mesh’s takeover of Sentience – of which both Asimilar and All Active have stakes, traders decided that that All Active was the favoured play for now.

Experiential leisure specialist, Escape Hunt (ESC), saw its shares continue to be in recovery mode, something which has been the case since the publication of its audited results last month. The latest boost was provided by the company winning the Travellers’ Choice Awards from Tripadvisor. The shares were up 10%.

Also in recovery mode again were shares of Wishbone Gold (WSBN), after recent moves to rejig the precious metals trading and exploration company. Its shares rose 10% after last week’s confirmation of moves to commence drilling at its Wishbone II gold project in Queensland, Australia. This comes after the assurance that the company is now debt free and has cash in the bank.

Brazil focused Nickel development company, Horizonte Minerals (HZM) saw its stock up 10%, closing in on year highs, as the market continued to back the shares after Tesla boss Elon Musk’s call to arms regarding Nickel production. Given that the metal is a key component of EV’s, the shares have finally started to gather the type of momentum long term holders have been hoping for.

Shares of Non Standard Finance (NSF) continued their recent rebound with a jump of 27%. This came after the group revealed that it had repaid £15m, or £10.5m net, on a £200m securitisation facility. The company added that the breach of certain performance triggers as a result of Covid-19 has been waived. The stock remains one where speculators continue to regard it as deeply undervalued due to the perceived strong cash position.

Biopharmaceutical group Hemogenyx (HEMO) proved once again that no news is good news, with the stock price up another 15%. While some traders are waiting on a possible breakthrough in a Covid-19 treatment, the perennial speculation regarding the company continues to be the nature of potential tie ups with big pharma.

Shares of ECR Minerals (ECR) were boosted 13%, as the gold focused mineral and exploration group has traders waiting on both drilling programme and potential joint venture news. All the while the stock remains underpinned by the positive tone in the precious metals price since the pandemic began.

Zak Mir

Zak Mir

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