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Source: Vitalii Vodolazskyi, Shutterstock
Summary
- The fintech’s gross origination of client companies rose by 13 per cent in the first quarter of 2021 from a year ago.
- The firm’s number of clients was 187 on 31 March, up from 82 as on 31 March 2020.
Shares of the Britain-based fintech firm Supply@Me Capital Plc (LON:SYME) slumped 31.03 per cent in the afternoon trade on Thursday to GBX 0.40 at the London Stock Exchange after a trading update was released by the company. The stock was having a market capitalisation of £190 million as on 1 April 2021.
Trading update
The innovative fintech platform released its trading update on 1 April, according to which its gross origination of client companies jumped 13 per cent between December 2020 and March 2021. It also announced the appointment of Amy Benning as its new chief financial officer, who will take charge from 7 June. The update said that the due diligence of TradeFlow Capital Management Pte Ltd was progressing in line with the timetable.
The firm’s number of client companies was 187 on 31 March 2021, up from 82 a year ago. Moreover, it was efficiently managing its Inventory Monetisation programme to optimise the funding cost for the Italian portfolio of clients to produce higher returns and to encash on the interest of the Inventory Funder for monetising an international portfolio.
Small cap or penny stocks are shares of small-sized public companies traded at a low price. For instance, these stocks are usually traded at a share price below £1 or they have a market cap below £100 million.
While you can possibly get rich by investing in penny stocks, you may lose a big amount in a single day. Since they can be bought in large quantities, being cheap, it may cause share price volatility. So, they might be up today and down tomorrow. Therefore, the best bet is to keep a look at the fundamentals while analysing their performance.
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Select penny stocks in focus
Let us now glance through 3 penny stocks that have displayed volatile performance during the day.
The shares of Hermes Pacific Investments Plc (LON:HPAC) were down 33.33 per cent to GBX 70.0 in the afternoon trading at London today. The company had a market cap of £2.45 million. On 3 February, the company had announced that Non-Executive Director John Berry had resigned.
Another penny stock under our lens is Cobra Resources Plc (LON:COBR) which shares dropped 19.61 per cent in the afternoon trade at 2.15 PM on 1 April to GBX 2.05. The exploration company (market cap of £8.35 million) is focused on the Wudinna Gold Project in South Australia. It provided its 2021 work programme for the Wudinna Project on 1 April. It said that the company was finalising a work programme to include auger geochemical sampling at Barns and White Tank to assist the future drilling work.
Another stock which lost during the day was Boston International Holdings Plc (LON:BIH), whose shares plummeted 16.67 per cent to GBX 5.00 in the afternoon trade. It announced on 31 March that new financing worth £199,956 had been secured via fundraising undertaken by Peterhouse Capital Limited.
