Home Money SMALL CAP MOVERS: Sondrel lifted by Neuralink connection rumours

SMALL CAP MOVERS: Sondrel lifted by Neuralink connection rumours

by Elijah
0 comment
Great link: The Daily Mail, citing

Is it an AIM-listed microchipped minnow? sondrel Coming to a brain implant near you?

That’s the rumor that spread through the media this week, after the Daily Mail, citing “a source with knowledge of the matter,” revealed that Sondrel played a key role in the development of the boss’s Neuralink brain-computer interface. of Tesla, Elon Musk.

According to sources, Musk asked Sondrel to lend his highly specialized knowledge in custom microchip designs to Neuralink, which was successfully implanted in a patient’s brain for the first time last Sunday.

Sondrel was not forced to confirm or deny the report, although it did remind the market that it is “one of the few companies capable of designing and supplying complex, higher-specification chips built with the most advanced semiconductor technologies.”

“The group does not comment on the identity of clients,” Sondrel said. That said, Sondrel has a “top-tier supplier to the automotive sector” on his books.

Great link: The Daily Mail, citing “a source with knowledge of the matter,” revealed that Sondrel played a key role in the development of Elon Musk’s Neuralink brain-computer interface

Tesla? Elon Musk? Neuralink? Tablet? It’s market speculation bingo. No wonder Sondrel shares are up 160 percent this week.

Looking at the broader junior market, the AIM All-Share index closed the week half a percentage point lower at 750.8, underperforming the FTSE 100’s 0.2 per cent drop.

Blue-chip stocks were weighed down by poor results from AstraZeneca, Khaki and ESS.

It was a different story across the pond: the S&P 500 hit new all-time highs, approaching 5,000 for the first time. You won’t be surprised to learn that shares of Magnificent 7, Nvidia, Microsoft and Facebook parent Meta led the charge.

Back in London, Artemis Resources Ltd led the charge in the mining sector after identifying the presence of lithium-bearing spodumene mineralization at its Marie Lithium Prospect in the West Pilbara region of Western Australia.

As a result, Artemis’ share price rose 77 percent.

Strategic minerals plc also had a bumper week with a major contract award that could see revenue decline in the current financial year.

The new customer has signed up and is expected to receive between 5,000 and 7,000 tonnes of iron ore a year, the company said. As a result, shares rose more than 28 percent.

Hemogenyx Pharmaceuticals plc was one of the leading small cap companies in the biotech space. Shares rose 28 percent over the week on news that the company’s trials of the myeloid leukemia treatment HEMO-CAR-T can continue.

The US Food and Drug Administration gave the green light for the trial to continue after problems identified in June had been successfully addressed.

In the same week that Viagra was found to potentially reduce the risk of Alzheimer’s in men, an erectile dysfunction innovator named to the AIM list Futura Medical plc enjoyed a 40 per cent rise in its market valuation following a trading update.

Investors hailed a pivotal year in Futura’s business trajectory, which marked the successful launch of Eroxon, an over-the-counter treatment for erectile dysfunction (ED), and the product’s approval in the US.

The first launches of the product, a fast-acting gel, were made in the United Kingdom and Belgium, under an agreement with Cooper Consumer Health, and exceeded expectations, capturing more than 20 percent of the market share in these regions during the first year.

In-game advertising company. Bidstack Group plc had some mare after a £2.4m loan deal with strategic investor Irdeto was thrown into doubt.

In a trading update, the group said it was “interested in continuing to work with Irdeto as previously announced” but the board “feels it must also consider other funding alternatives”.

As a result, Bidstack has appointed restructuring advisors to analyze all options for the group’s future, including a possible sale of the company’s assets. Shares fell 60 percent.

kinovo plc The shares fell 14 percent after the specialist real estate services firm warned that several delays meant the costs of its legacy projects had risen.

Bens Creek Group plc was cut by a third after the group revealed that chief executive Adam Wilson will step down from his role. Wilson said he will remain until a suitable replacement is found.

The group also announced a new loan with major shareholder Avani to provide it with additional working capital.

Bens Creek’s operations in West Virginia were affected by severe weather conditions earlier this year. While the mine was back in production, several trains scheduled to pick up contracted coal sales were delayed, causing a significant delay in coal deliveries from the beginning of the year.

Other AIM drops included Hardide plca 25 percent decline due to concerns about cash leakage, and Digital 9 Infrastructure plcfell a resounding 40 percent after Icelandic regulators blocked a planned spinoff pending a Phase II investigation.

Some links in this article may be affiliate links. If you click on them, we may earn a small commission. That helps us fund This Is Money and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.

You may also like