A quarter of the way through 2021 and it looks like the pandemic boost enjoyed by many companies has dissipated.
The top 12 performers – the dynamic dozen, if you will – in London this year do not feature any companies that for one reason or another (e.g. coronavirus testing, lockdown workarounds) have done well out of the pandemic.
The Dynamic Dozen does, however, feature representatives of two (or three, if you want to be picky) sectors that look set to dominate investment themes this year: cryptocurrency/blockchain and medicinal cannabis.
The catalyst was the appointment of Jack Bai and Shayne Tan as executive directors at the end of January.
Bai is a successful technology entrepreneur, who has successfully built and exited multiple companies, including in fintech and payment solutions. He leads the development of the Coalculus blockchain technology, which enables enterprise-ready blockchain-as-a-service to financial institutions and enterprises.
Tan is the chief marketing officer for the Coalculus blockchain platform, which he co-founded with Bai.
The information and communication technology infrastructure solutions provider updated the market a month ago on its corporate strategy, which is to focus on the new higher growth synergistic business areas focussed on blockchain technology, particularly those applicable in the banking and wider financial services sector.
Short of establishing UK and Singaporean subsidiaries, the company has not actually done much publically since the high-profile board appointments but presumably, wheels are turning furiously behind the scenes.
As with GSTechnologies, expectation rather than achievement is largely responsible for the share price surge but at least in 88 Energy’s case it has put in some hard yards.
Earlier this week the company told investors that logging-whilst-drilling data indicated multiple potentially hydrocarbon-bearing zones in the Merlin-1 well in Alaska.
The initial data confirmed the presence of the Nanushuk formation, which contains the company’s primary exploration targets.
Additionally, it reported that oil shows were recorded over multiple intervals in the Nanushuk.
Shareholders wait with breath abated for the results of the wireline process, currently underway, that should provide further data insights and detail to define the intervals.
Proactive’s Dynamic Dozen
|Ticker||Name||%chg in 2021||Cause|
|GST||GSTechnologies Ltd||1280||Blockchain specialist Jack Bai acquires stake|
|CLP||Clear Leisure PLC||730||Progress in legal skirmishes|
|88E||88 Energy Ltd||661||Excitement over the Merlin-1 well in Alaska|
|ARB||Argo Blockchain PLC||620||Cryptocurrency play|
|OEX||Oilex Ltd||400||Resolution of the Cambay production sharing contract dispute|
|KNB||Kanabo Group PLC||371||Medicinal cannabis play|
|FAR||Ferro-Alloys Resources Ltd||303||Strategic investment by former Xstrata CEO|
|OHG||One Heritage Group PLC||296||Speculative buying in January mystified the directors|
|XTR||Xtract Resources PLC||277||Bushranger drilling programme success|
|FUM||Futura Medical PLC||230||Regulatory progress in the EU and US for its erectile dysfunction gel|
|PRD||Predator Oil & Gas Holdings PLC||229||Renewed commitment by the Irish Government to honour existing licences issued by the State for oil and gas.|