Small Cap Movers: 7digital Group rockets on contract with TikTok rival Triller
7digital Group PLC (LON:7DIG) was the top riser this week, rocketing 143% higher to 1p on the back of a contract with US video platform Triller.
The digital music companys catalogue of more than 80mln tracks will be available to Triller users when editing videos.
Triller has been in the news lately as it could potentially replace TikTok in the US if a White House ban goes ahead.
TikToks parent ByteDance has just over a month to find a potential buyer in the US otherwise transactions with the Chinese company will be prohibited under an order signed by Donald Trump.
Washington is looking to disrupt the companys activity over concerns regarding personal data use.
If it goes ahead, Apple and Google would not be able to provide TikTok via their app stores, hindering its growth.
As events unfold, Triller is reportedly seeking fresh funding of US$250mln that would value it at US$1bn, a huge jump from Octobers valuation of US$130mln.
In another technology world, graphene was supposed to be the new super-strong, superconductive nano-material destined to transform all areas of life.
But who would have thought it would find commercial traction in super-safe coronavirus (COVID-19) facemasks? Directa Plus PLC (LON:DCTA), up 9%, is the second AIM firm to come to the market with a graphene-enhanced mask, following Versarien (LON:VRS), which has significant orders for its PPE product lines.
Turning to the wider market, the AIM All-Share was up 2% to 951, outperforming the FTSE 100 index which was flat at 6,043.
Sticking to the risers, N4 Pharma PLC (LON:N4P) soared 67% higher to 9p on the back of positive results from its study to evaluate COVID-19 applications for Nuvec, its delivery system for cancer treatments and vaccines.
Oiler Westmount Energy Limited (LON:WTE) surged 44% to 21p after it announced that the Stena Carron drillship has arrived at its Tanager-1 wellsite, offshore Guyana.
Sector-mate Angus Energy PLC (LON:ANGS) climbed 34% to 1p after securing an off-take agreement with Royal Dutch Shell for the entire production from the Saltfleetby Gas Field, onshore England. It is also to submit its application for an extended well test at the nearby Balcombe site next week.
In the IT sector, digital transformation firm The Panoply Holdings PLC (LON:TPX) shot up 37% to 137p after unveiling two significant contracts signed with HM Land Registry worth up to £4.8mln in total.
Elsewhere on the contract front, remote site service provider RA International Group PLC (LON:RAI) jumped 20% to 55p on the back of a new US$60mln deal with a large engineering and construction firm in Southern Africa.
Meanwhile, Horizonte Minerals PLC (LON:HZM) advanced 22% to 4p after signing up five international banks – BNP Paribas, ING Capital, Mizuho Bank, Natixis, and Société Générale – to arrange a US$325mln debt facility to get work underway at the Araguaia ferro-nickel project in Brazil. This was seen by the market as a major tick in the box for the asset and a vote of confidence in the management team, led by Jeremy Martin.
Online retailer ASOS PLC (LON:ASC) added 10% to 4,754p after lifting its profits expectations for the full-year following stronger than anticipated demand for its clothing lines.
Among the fallers, pharRead More – Source