Shares of diversified tech investor Tern (TERN) continued to defy the bears, especially given the way that the stock has nearly tripled without a RNS – something which has upset the shorters even more. However, the market seems to have appreciated the sum of parts discount Tern shares trades at, has appreciated the latest Wyld Networks webinar, and looks forward to more newsflow and events underpinning the valuations of Device Authority, Fundamental VR and InVMA. Tern shares were up another 20% to start the week.
Also delivering a pie in the face to the bears has been Catenae Innovation (CTEA), interestingly rising more at up 23%, than many of the larger capitalisation COVID-19 plays, as we approach the second lockdown later this week – one that was announced just in time to extend furlough on October 31. Investors pointed to Catenae being one of the more rounded pandemic plays given its “rapid test kit” and “track and trace” capability in just the one small cap company. There was also talk of a fresh Afik-ID news this week.
Underlining the idea of a shift into newer, smaller COVID-19 plays, there was a fresh wave of buying in Vela Technologies (VELA) leading to a 27% rise in the share price. All of this left the stock at 0.12p, versus bumping along the bottom level this time last month at 0.06p. This recovery has been off the back of Vela investing £2.35m in a late-stage Phase II therapeutic project to develop a potential coronavirus treatment for diabetics alongside a major international pharm group and other sector luminaries.
Another recent multi-bagger back on the front foot after the Government’s second lockdown fiasco was Remote Monitored Systems (RMS). Here the shares have jumped another 39% to 4.45p, having traded well below 1p just a couple of weeks ago. The attraction with investors remains the anti-viral mask potential of P2F by as soon as the end of this year, although the most ardent are anticipating potential for the company in the run up to the November 5 sale by Braveheart (BRH) of its 52% stake in Pharm2Farm to Remote Monitored Systems. Shares of Braveheart themselves jumped 7p to 62p.
While oil & gas companies are currently somewhat less in focus as compared to COVID-19 Mania plays, it did appear that UK and Canada focused i3 Energy (I3E) was on the front foot once more as it rebounded 8%. This came in the wake of i3 completing the initial phase of its move into Canada via the Toscana acquisition, which along with Gain Energy’s assets will mean the UK listed company has over 9,000 boepd, will therefore be able to pay its first dividend in Q1 2021 (enhanced by Toscana’s tax losses) and has earned a listing on the TSX, to start later this week.
Those looking for the next new minnow to bounce were calling Mobilityone (MBO) as being one of the favoured contenders. The shares were up just under 3%, as the attractions of the company have remained in focus since its half year report on October 22. For instance, cash and cash equivalents up to nearly £6m versus a market cap of £10m, with customers such as Moneygram and Alibaba for the payments company, and revenues up more than 50% to nearly £120m.
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