Stock Market Watch: #AAA #AST #AMGO #BZT #DEV #PHE #VDTK #WSBN

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

Shares of technology investor Pires (PIRI) were on the front foot, up 7.7%, after recent stakebuilding in the stock, and in the wake of a fresh research note by Mirabaud Securities. The broker described the company as a “rare investment opportunity” and slapped a 14p target on the shares versus the 6.3p day close.
Renewable energy play Powerhouse Energy (PHE) unveiled a £5m fund raise, backed by a major shareholder, as well as Peel Environmental, and a new institutional investor. Usually, stocks fall after such news, but Powerhouse managed a 8% rise to 3.25p as investors applauded the funding of the start of its waste to energy plant rollout.
Shares of solar energy technology group Verditek (VDTK) rebounded 13%, as the market chose to focus on the prospects for fresh contracts, given the fundamental boost to its sector of the market since the pandemic. Sentiment was also helped by a tweet from the company in which it said, “we have shipped a further 3 completed orders within the last week from Lainate Italy. Verditek’s 15 strong sales teams located around the world continue to secure further orders.”
Board room bust ups are perhaps about the highest level of excitement the stock market can provide, with the soap opera at lender Amigo (AMGO) continuing to divide investors, just as much as the leading protagonists at and around the company. The stock has been supported by a promise by the founder to buy the stock up to 20p and return as CEO, while the naysayers point to the Amigo board shooting down his stated plans. However, the latest swing of the pendulum was in favour of the bulls, and the result a near 10% share price rise to 12.8p.
Tech investor All Active Asset Capital (AAA) saw its stock hit new 52 week highs up 6%, as the market started to reassess its recent announcement regarding its holding in Asimilar (ASLR).  A kicker here was the tax benefits of Asimilar buying Intrinsic Capital Jersey. In turn, Dev Clever (DEV) shares were also up 6%, as Intrinsic’s recent subscription to buy stock at 10p and exercise warrants at 25p have been supportive to the market.
Shares of Ascent Resources (AST) continued their recent recovery, closing up 17% at 3.37p – well above key resistance at 3p. Helping support the stock was a combination of the potential for compensation from the Slovenian Government and / or possible news regarding assets in the Caribbean. Last month the company announced it had submitted its application to become an operator in Cuba.
Wishbone Gold (WSBN) saw a return to form, with a 10% share price rise, as the rehabilitation of the company in the wake of this week’s news that drilling has been approved for its high grade Australian gold assets. Wishbone said that Terra Search has been engaged to fast track work to prove up the White Mountain and Wishbone II assets.
Mining group Bezant Resources (BZT) continued to rebound after its £625,000 fund raise at the end of last month. At the time the company said that it would use the proceeds for reconnaissance drilling at the Hope copper-gold asset in Namibia, as well as the Kalengwa project in Zambia. Bezant shares added 9%.

Disclaimer
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.

Zak Mir

Zak Mir

About Me

Zak Mir is a Technical Analyst, Events Host, Presenter, CEO Interviewer and established Market Commentator. Zak presents the daily Bulletin Board Heroes which can be seen here at Share Talk

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