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#StockMarketWatch: August 21

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

What may or may not make the grade in the weekend press…

Shares of Remote Monitored Systems (RMS) understandably rocketed late on Friday’s session as the company unveiled a conditional agreement to buy Pharm2farm Limited in stock, equating to a value of £2.3m. While Pharm2farm is involved in the world of crop nutrition, the explanation for the 32% rise in Remote Monitored Systems shares was more than likely due to Pharm2farm developing nanotechnology enabled face masks, due to be completed by the end of the year. What was interesting is the way that Braveheart (BRH), a related party to the deal, did not see its stock rise in sympathy.

Supercapacitor manufacturer, CAP-XX (CPX) rose 37%, adding to recent gains, in the wake of this week’s revelation that it had successfully defended its intellectual property in a US court. The company raked in $4.9m after the Delware District Court ruled in its favour.

Shares in embattled Anglo African Oil & Gas (AAOG) bounced back 20%, as investors preferred to cast aside the company’s efforts on the production front, and instead highlight its attractions as a potential shell. With the current lowly market cap of £1.6m this may be logical, particularly as it is argued that the group is sufficiently funded for a possible reverse takeover, and comes with hefty tax losses as an added bonus.

Integumen (SKIN) continued its recent bull run with another 17% climb, with the market clearly giving the thumbs up to the announcement made by the company last month regarding a £3m funding facility for 3 years. This was to fund the move of Labskin into Asia and the US, as well as Integumen’s Covid-19 AI product.

MetalNRG (MNRG) improved by 15% as traders suggested that fresh news from the company is imminent. This is set against a backdrop of the company’s Gold Ridge asset, with of potentially 2Moz and a pending UK onshore oil and gas deal.

Technology investor Pires (PIRI) was up 11%, feeling the benefit of serial entrepreneur Chris Aker’s recent stakebuilding up to 18%, and investment group Riverfort (RGO) at 22% on the shareholder register. Would be buyers of the shares noted little stock was available in the market, something which contributed to the squeeze higher.

There was another end of week flurry for shares of bio-delivery group Midatech (MTPH) early in the session, as traders pointed to a price spike pre-open for the company’s US listing. While some of the best gains were whittled away towards the close, the stock managed to serve up a 10% gain at 38.5p, after peaking as high as 45p.

Empire Metals (EEE) was once again on the front foot with the shares up 11%, as the market continued to positively digest its recent acquisition of the high grade Eclipse gold mining license in Australia from Philips Exploration. Interviews carried out by CEO Mike Struthers since the announcement have underlined the attractions of this formerly producing license, and the deal that has been struck at a very buoyant time for the precious metals space.

Long term recurring revenue investor Dukemount Capital (DKE) ended the week on a high note with its shares up 16% as investors await news regarding current projects in the North of England, as well as looking forward to an increase in deal flow under the new CEO, Matt Thompson.

There was a late flurry to the upside in molecular diagnostics group Genedrive (GDR), as the stock continues to build its recovery following the announcement of a collaboration with Beckman Coulter Life Sciences to acceleration Covid-19 testing. Indeed, the rally towards the close gave the impressive of a fresh announcement being imminent from the company, or perhaps a mention in the weekend press…

Zak Mir

Zak Mir

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