1 AIM stock to avoid
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The stock market can sometimes be like a Premier League season. You keep rooting for the big boys and all of a sudden, a certain Leicester City team outfoxes the whole lot. The Alternative Investment Market (AIM) happens to produce such stocks every now and then. I’m not saying that investing in AIM stocks is good or bad in general, just that they normally happen to be either ‘high-risk high-gain’ or ‘low-risk low-gain’ deals.
Looking for AIM stocks, I stumbled upon
Springfield Properties(LSE:SPR). The company doesn’t exactly have a high market cap but recent months have been quite dynamic in terms of the share price, peaking at 165p and plummeting to 142p in the past three months. The recent fluctuations in the share price made it quite difficult for me to predict if there was potential for me to make gains from investing in the shares now.
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A look at some of the major movers in London on Tuesday
M&C Saatchi PLC (LON:SAA) climbed 12% to 143.5p after it raised full-year guidance after the first four months of the year exceeded expectations.
The advertising agency said new business performance has been robust.
The company also announced it has entered into a new revolving credit facility.
10.00am: Powerhouse surges as its partner chooses site for second plastic to hydrogen facility
Powerhouse Energy Group PLC (LON:PHE) improved 5.2% to 6.21p after it said a second site using its waste plastic to hydrogen technology is to be developed by its partner, Peel L&P.
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A look at some of the major movers in London on Tuesday
Shefa Gems Ltd (LON:SEFA), up 56% at 3.5p, had a sparkling day after it announced a sharp change of direction.
Previously the company has been focused on exploration and development of multi-gemstone mining projects in Israel but it wants to distribute the company s current mining business to all of the company s existing shareholders via a dividend in specie, raise news funds and look for acquisitions in the web technology and software sector. This combined transaction we are asking shareholders to approve … is the result of lengthy negotiations, which were carried out under a number of key objectives, including both the benefits for the company and its shareholders (including, promoting profitability and new opportunities in a rising sector using the Israeli innovation opportunities, closing burdensome liabilities, cutting costs, and also preserving the shareholders holdings in the gem mining in Israel,