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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.
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AIM - WINNERS
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Blue Star Capital PLC, up 39% at 0.25 pence, 12-month range 0.12p-0.54p. The stock surges on an update concerning its SatoshiPay investee. Blockchain company Pendulum releases its 'Spacewalk' blockchain bridge, which aims to bridge the gap between the decentralized finance and traditional fintech services sectors. "Pendulum is committed to advancing foreign exchange trading into the blockchain space to integrate a tranche of the USD6.6 trillion traded daily in forex markets. It is hoped that the Spacewalk bridge will serve as critical infrastructure to bring stablecoin liquidity required for forex trading to Pendulum," Blue Star explains. Blue Star has a 28% stake in SatoshiPay, which in turn has a 5.5% interest in Pendulum's future tokens.
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ITM Power PLC, up 6.4% at 85.64p, 12-month range 66.02p-424.20p. Signs deal with utilities connections expert Power On Connections Ltd to lift power supply at Bessemer Park to 30 megavolt amperes by end of 2024 from 7.5 megavolt amps currently. "This additional power supply will enable ITM Power to significantly increase product testing aligned with our growth ambitions," ITM says.
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AIM - LOSERS
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Virgin Wines UK PLC, down 13% at 42.40p, 12-month range 42.40p-138.00p. The online wine retailer posts weaker half-year results amid inflationary pressure. Revenue in the six months to December 31 falls 17% to GBP33.6 million from GBP40.6 million a year earlier. Pretax profit plunges 97% to GBP90,000 from GBP3.2 million. "As previously announced in our year-end trading update, profitability was impacted during the first half, with a number of macroeconomic headwinds exacerbating certain internal and operational challenges which we encountered particularly over our peak Christmas trading period," Chief Executive Jay Wright says.
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By Eric Cunha, Alliance News news editor
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