MOVERS OF WEDNESDAY 6 JANUARY 2021

Greggs (GRG CONSEQUENCESShares rose 10.34% to 1,965 pence despite their first loss in 36 years

The UK’s on-the-go grocer stocks rose during Wednesday’s trading, despite the group posting its first loss in 36 years. Greggs expects a loss of up to £ 15m in FY 2020.

GRG does not expect earnings to return to pre-Covid levels until 2022 at the earliest. The considerable uncertainty about the duration of social restrictions and the impact of higher unemployment rates make it difficult to predict performance.

‘As of the beginning of 2021, Greggs has a strong financial position for the benefit of all of its stakeholders. We have a strong pipeline of new business opportunities and expect to open around 100 new Netto stores in the coming year given the given market conditions. ‘

The bakery chain announced that its digital offering is evolving and the launch of its national delivery offering in collaboration with Just Eat is helping to recover sales levels.

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Online blockchain (OBC CONSEQUENCES) Shares rose 45.26% to 69p as the stock continues to rise

The stakes in the blockchain and cryptocurrency company, which said it had no material impact due to the coronavirus pandemic, continue to rise. In fact, stocks of online blockchain stocks have more than tripled in the past year, hitting recent highs of 71p.

Last week the company announced that it linked the recent price move to its recent £ 0.4m increase by placing 1.8m new shares through Monecor, trading as ETX Capital.

OBC will use the proceeds to fund the launch of crypto and blockchain-based products, including a new development project to decentrally fund a DeFi protocol, Umbria, which the company is expected to beta test in the first quarter of 2021.

Umbria’s goal is to enable user-friendly exchanges between pairs of crypto assets by interfacing with existing third-party DeFi protocols such as Uniswap, Sushiswap and Yearn.

OBC price chart

Arkle Resources (ARK CONSEQUENCESStocks rose 41.05% to 67 pence after high grade gold was discovered

Explorer’s shares rose after the group identified new high-grade gold-bearing vein outcrops during the company’s recent winter trench program in Inishowen.

“The trench results at Inishowen have exceeded, if not exceeded, our best expectations. The discovery of new high quality gold veins 85 meters along strike from initial drill holes in 2016 marks a turning point for the Inishowen gold project,” said the group.

John Teeling, Chairman, said, “The trench results will provide the geological team with field data that will allow a complete mapping of the vein systems in the area to determine length, average latitude and grade. The outcome of this mapping exercise will outline high priority gold targets that the company plans to explore in the spring through a fully funded drill program. ”

Based on these results, a fully funded drill program is currently being developed as the next exploration step. It believes that as the company works to identify a gold resource it has overcome these obstacles and is “confident of further positive results”.

The Inishowen wells are being planned along with the Wicklow / Wexford Mine River project to rapidly shift operations between the two projects as development progresses in 2021.

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Gaming realms (GMR CONSEQUENCES) Stocks rose 23.42% to 27.2p as US exposure increased

Gaming Content Group received a preliminary license to iGaming providers from the Michigan Gaming Control Board as it focuses on increasing its presence in the United States.

The license allows Gaming Realms to make its Slingo Originals game content available to Michigan’s licensed online casino operators once iGaming is approved by the state’s Gaming Control Board, which is expected to happen shortly.

Michigan is the tenth largest state in the United States with a population of approximately 10 million people.

“We are very pleased to have received our preliminary iGaming license in Michigan, which is a larger gaming market than New Jersey, where the group currently operates.

“We have already signed a number of contracts with Michigan licensed operators and we are confident this will be a strong market for us as Slingo is known as a successful gaming brand,” commented Michael Buckley, Executive Chairman of Gaming Realms.

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PureTech health (PRTC CONSEQUENCESStocks fell 4.52% to 391 pence after gaining ground

Shares fell today despite the fact that the stock had gained over 70% in value since early November 2020. In fact, stocks rose yesterday after the appointment of financial analyst and biotech manager George Farmer as new chief financial officer was announced.

“This is an important moment for PureTech as we recently initiated three clinical trials based on programs from our 100% pipeline and expanded our presence with the NASDAQ Global Market list. We believe George’s depth of experience is very helpful will be when we share the PureTech story with a wider investor community, ”it says.

Last month, the biotherapeutic started a phase 1 clinical trial for the potential treatment of metastatic solid tumors that are difficult to treat and have low survival rates.

The clinical trial is designed to evaluate the safety and tolerability of escalating doses of the company’s LYT-200 product. The results are expected for the fourth quarter of 2021.

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