AIM WINNERS & LOSERS : Directa Plus flags full - year revenue drop
On Wednesday, AIM witnessed significant movements in stock prices, with Ovoca Bio PLC and Electric Guitar PLC leading the risers, while Directa Plus PLC saw a notable decline. Ovoca Bio PLC experienced a more than twofold increase in its stock price, reaching 1.4 pence. The company reported a narrowed pretax loss for the first half of 2024, reducing from EUR2.4 million to EUR1.2 million. Despite not generating revenue yet, Ovoca Bio PLC has managed to decrease its administrative expenses by 69%, from EUR1.0 million to EUR319,000. The company s CEO, Tim McCutcheon, emphasized the company s efforts to optimize its corporate structure and patent portfolio, with a focus on exploring new opportunities and keeping shareholders informed. Electric Guitar PLC also saw a 23% increase in its stock price, reaching 0.8 pence. The company announced the creation of a loyalty app, integrating open banking data to enhance consumer engagement and provide personalized financial insights. This initiative is a result of a strategic collaboration between Electric Guitar PLC, its subsidiary 3radical Ltd, joint venture Marcomms.ai, and financial technology firm Little Birdie. On the other hand, Directa Plus PLC experienced a 31% decline in its stock price, dropping to 11 pence. The company reported a widened pretax loss for the first half of 2024, increasing from GBP1.9 million to GBP2.5 million. Additionally, the company s revenue fell to EUR3.4 million from EUR4.6 million. CEO Giulio Cesareo warned that the full-year revenue is expected to be materially below market expectations due to shorter term headwinds. However, the company remains optimistic about converting new material contracts from its growing pipeline of opportunities, including for Setcar, and aims to achieve a breakeven Ebitda run rate by the end of FY2025. In summary, Ovoca Bio
Source: marketscreener.comPublished on 2024-09-25
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