Blockchain technology solutions group Catenae Innovation (CTEA) became the event of the day as the company’s CEO Guy Meyer appeared on Sky Business News. The shares surged ahead of his appearance, showcasing Catenae’s Cov-ID electronic passport, designed to fight the battle to maintain safety and social distancing in a pandemic environment. Recently, small cap companies such as Genedrive (GDR) have seen the share prices rise sharply, and Catenae closed up 33%.
Small cap tech stocks seemed to be on the front foot this week, with both technology investor Pires (PIRI) and EdTech play Dev Clever (DEV) adding 13% and 8% respectively. The share prices of these companies, in which serial entrepreneur Chris Akers has significant stakes dipped in the wake of the return of fellow tech play, Asimilar (ASLR), but a bear trap effect looks to have taken place. For Pires, traders were betting on new broker Mirabaud raising the profile of the company in coming weeks.
Revamped Gold mining group Wishbone Gold (WSBN) continued to return to favour, after its recent pledge to go back to basics and its eponymous Wishbone II asset. Helping add to the latest good sentiment has been the company eliminating debt and having cash at the bank. All of this added another 12% to the share price.
It would appear that the powers that be at South America focused Nickel miner Horizonte Minerals (HZM) have a lot to thank Tesla founder Elon Musk for. Since last month shares in Horizonte have gone into a sharp recovery, after Musk urged mining companies to dig as much Nickel out of the ground as possible – the metal is a key constituent of Electric Vehicles. Horizonte added nearly 16% to close at 7.2p – a new 52 week high, after peaking at 8p during the session.
Technology investor Vela Technologies (VELA) was dominating the bulletin boards after the announcement by fellow tech investor Two Shields (TSI) regarding a fund raise by its investee company WeShop. Vela is a 71,429 shareholder in WeShop, with traders apparently pleased that the WeShop story is moving forward. After initially dipping as low as 0.03p on Wednesday’s session – new lows for the year, Vela shares traded relatively flat at 0.052p.
Aquis Exchange listed crypto currency investor KR1 (KR1.NEX), saw its shares surge to 15.75p, as the £20m market cap company managed a $199m investment to become a member of MetaCartel Ventures Decentralised Autonomous Organisation. The James Bond film sounding entity now has KR1 as a 7.85% shareholder.
Shares of power generator Rurelec (RUR) initially spiked as high as 3.5p, continuing their recent rally, and nearly doubling on the day at one point, before closing nearly flat on the day. The reason for coming off the boil was that the company was issues with a so called “speeding ticket” RNS – a privilege of being listed on the AIM market – to cool speculation in the stock. Indeed, Rurelec had to confess that it knows of “no reason for the share price movement” and took the opportunity of clarifying the recent capital restructuring.