31st Dec 2024 10:18
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
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SMALL-CAP - WINNERS
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GSTechnologies Ltd, up 7.3% at 2.74 pence, 12-month range 0.55p-2.85p. Shares in the technology company hit this 12-month high as the year concludes. The firm, which operates businesses in the blockchain payments and financial services, foreign exchange, and cryptoasset exchange spaces, has enjoyed a rip-roaring rise in recent months. It has jumped three-fold since the end of October, bolstered by rising cryptocurrency prices in the wake of Donald Trump's US re-election.
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Digital 9 Infrastructure PLC, up 6.9% at 19.35 pence, 12-month range 14.50p-33.31p. The firm has entered into a deal to exit the EMIC-1 intercontinental subsea cable system for USD42 million. The sum is a 15% discount to the June 30 valuation of USD49.6 million, the investor in internet infrastructure, such as data centres and subsea fibre, says.
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SMALL-CAP - LOSERS
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DG Innovate PLC, down 72% at 0.022p, 12-month range 0.018p-0.26p. The developer of sustainable mobility and energy storage technology plans to exit the London Stock Exchange, hitting out at listing rules in a parting shot. DG's delisting is expected to be effective from January 31. "DGI's management team has made significant operational progress over the past 12 months, including: signing of the Indian joint venture agreement with EVage, delivering the Pareta P450 and e-brake motor prototypes to partner Cummins, and completion and initial testing of the first P80 samples in the past week. Despite this, the company has found it difficult to raise sufficient funds to invest in its commercialisation strategy during this period, and in general since coming to market via reverse takeover in April 2022. This is in part due to its current listing and the constraints of the associated prospectus rules. However, it is also clear that there has been and remains a broad lack of demand for exposure to companies at DGI's current stage of development within the UK's traditional institutional investor base," the firm said.
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Videndum PLC, down 2.0% at 144.00p, 12-month range 136.40p-362.50p. The stock fell to this 52-week low in afternoon dealings on Monday, before recovering in holiday-thinned late trade. Shares surrendered some ground early on Tuesday's abbreviated trading day, however. Videndum shares are 59% lower than they were this time last year. The provider of hardware and software for broadcasters, film studios and other media content creators did not see the pace of recovery it expected in 2024. Last year had been a torrid one for the film industry amid strikes in Hollywood. Videndum shares had plunged 67% in 2023 and lost 24% in 2022. Whether it can rediscover its form in 2021, where it surged over 50%, remains to be seen.
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Braemar PLC, down 0.5% at 235.28p, 12-month range 234.00p-317.64. Another firm to hit a 52-week low late in the year is Braemar, a provider of investment, chartering and risk management advice to shipping and energy markets. Shares have fallen around 14% in 2024. Last month, the firm reported pretax profit jumped 89% to GBP3.6 million in the six months to August 31, from GBP1.9 million a year ago. Braemar noted that market conditions remained healthy. Chief Executive Officer James Gundy said at the time: "The outlook for the shipping industry remains positive with exciting opportunities for further organic and inorganic growth. Our growing scale, expertise and infrastructure places Braemar in a strong position to attract talented individuals and businesses as we continue to successfully execute our growth plans."
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By Eric Cunha, Alliance News news editor
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