Anyone feeling a little squeamish at returning to the COVID-19 plays on Tuesday after the great Pfizer induced meltdown on Monday might have been kicking themselves after witnessing the 145% rise in anti-viral face mask maker Remote Monitored Systems (RMS). It was quipped by one social media commentator that with an anti-viral face mask, “who needs the vaccine?” But at least with the massive rebound for RMS shares the message from the market appeared to be that both a vaccine and an effective face mask will be wanted near term. Price action will have noted that the stock opened at the day low, and closed at the day high, one of the strongest technical set ups.
Not surprisingly, Remote Monitored Systems shareholder Braveheart (BRH), currently holding around 25%, saw its share price rise 28% to 35p. That said, some were suggesting that the fair value for BRH shares given the stake it has in RMS should be closer to 58p. Apparently owning the fastest COVID-19 on the market was also seen as helping BRH in its own right.
In fact, there were reasonably rebounds for the best of the COVID-19 plays: Open Orphan (ORPH) bounced 10% after recent contract wins, Novacyte (NCYT) up 11% and N4 Pharma (N4P) up 15%.
There was also interesting “math” involved in the return of Two Shields (TSI) after the RTO with Brandshield, the online brand protection specialist with companies such as Levi’s on its roster. Here the stock came back to close at 0.1125p versus a £3.2m raise at 0.1p, and giving Two Shields a market cap of £7.25m. The conditional acquisition price for all the shares in BrandShield not already owned by TSI was approximately £13.15m.
One of the post-Covid-19 Cinderella sectors has been oil & gas, with the highlights of the day being Premier Oil (PMO) and Tullow Oil (TLW) up 31% and 16%, with Jersey Oil & Gas (JOG) managing a 19% gain. The rise in Tullow came after yesterday’s completion of a $575 million sale of Uganda assets to Total. JKX Oil & Gas (JKX) managed a 13%, with one trader saying that “there was no stock around.”
Nickel copper sulphide project owner Amur Minerals (AMC) was an interesting market, with the stock surging towards the close of the session by 15%. Perhaps rather obviously observers of the shares were suggesting that an update from the company was imminent as soon as the following market open. This is although the last official news was less than a couple of weeks ago regarding the first shipment of iron ore from its NRR investment.
The award to Shell of the Moment had to go to Mustang Energy (MUST), a company likely to be steered into the direction of fintech. The market cap remains below £1m, with the £400,000 in cash likely to last more than a year. Rather pleasingly the directors are said to be doing without remuneration until a deal is done. The shares closed up 0.75p at 11.75p.
Finally, there was decent follow through for Mosman Oil & Gas (MSMN) after the previous day’s operational update, with the stock up 16%. Investors were particularly reacting to Falcon-1, where testing operations are expected to start next week. Traders were also pointing to commercial grades of oil, gas and helium in Mosman’s Amadeus Basin Project, with all of this in a company with a market cap of just £4m.
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