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Stock Market Watch: #ARB #MHC #PIRI #RDGC #RMS #XTR

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


One of the characteristics of the small caps space is that the market can be a little slow in catching up with the merits. Fortunately, on occasion, once the merits have been appreciated things can also go over the top – much to the pleasure of shareholders. A stock which may be regarded as in the slow burn category since its late December RNS is MyHealth Checked (MHC), formerly known as the rather more enigmatic sounding, Concepta. Then it revealed that it had been made an approved provider for the UK Government Test to Release Scheme, with this applying to both general testing as well as for international travel. Given that the fundamental dial has move further in MHC’s favour in the wake of new draconian UK rules for travellers, it would appear that the latest 11% rise in the stock is appropriate. This is especially the case given the way that traders are expecting fresh news from the company imminently, given that it has been weeks since the last update, and other “testers” have rallied strongly since.

One of the stocks of the week, and one which some are suggesting could be one of the plays of the year, continues to be Ridgecrest (RDGC), with the acquisition vehicle rising another 35%. Interestingly enough, even after the spike in the stock it still only has a market cap of £3m – so is very much still in minnow territory in terms of valuation. Plus Ridgecrest has already conditionally raised £2m. Helping underpin sentiment was another double dose of TR1s, from the duo who are fast becoming the Lennon and McCartney of the stock market after their recent hit investment in Pires (PIRI). John Mahtani and Ashok Patel are both well above the 3% disclosable level.

After what seemed like waiting for forever, Remote Monitored Systems (RMS) announced that the equivalent of the “Man From Del Monte” had finally said yes to the final stage of certification for the P2F anti-viral mask. After this thumbs up the viricidal mask can be sold in the UK and Europe. The company said that it is now just a few days away from commissioning, and that the sales effort can now begin in earnest. Shares of RMS added 8%, continuing to upset the naysayers.

Another day, another update from copper – gold mining development group Xtract Resources (XTR). Here investors gave the thumbs up to the latest £5m placing at 4.5p by the stock remaining well above this level to end the week and closing at 5.15p. Xtract said that it was pleased with the first down hole plunge at the Bushranger projects, and that a follow up drill programme will be instigated to restate the size and grade of the copper-gold resource.

Finally, there was a healthy intraday rebound for crypto miner Argo Blockchain (ARB), something which was just as well as the intraday low of 61p was quite a retracement as compared to the all time high achieved just days ago at 145p. The shares closed at 77p, up 8%, helped along by a 5% plus rebound in the price of Bitcoin to end the week.

Disclaimer: 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

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