AIM WINNERS & LOSERS: musicMagpie flies; video game shares fall

Mon, 09th Jan 2023 11:27

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

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AIM - WINNERS

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musicMagpie PLC, up 16% at 33.00 pence, 12-month range 5.15p-169.00p. The Stockport, England-based used-technology reseller says decluttr's refurbished disc media is now available to buy on Walmart's online marketplace. musicMagpie said decluttr will bring preowned CDs, DVDs and video games to Walmart customers at competitive prices.

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AIM - LOSERS

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Devolver Digital Inc, down 12% at 55.95p, 12-month range 50.00p-222.00p. The publisher and developer of indie video games expects revenue within guidance for 2022 but warns that its performance was poorer than expected in the second half. Sales in December were weaker than expected and three titles underperformed.

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Frontier Developments PLC, down 40% at 603.00p, 12-month range 575.00p-1,832.00p. The news from Devolver's industry peer was no better. Frontier expects a rise in first-half revenue but warned on its full-year outcome. The video games publisher and developer expects revenue of GBP57 million for the six months to November 30, up 16% year-on-year from GBP49.1 million. Interim revenue was helped by the release of the F1 Manager 2022 racing title and survival game Stranded: Alien Dawn. For the full-year, however, Frontier no longer expects to meet market consensus forecasts for revenue and operating profit, which stand at GBP135 million and GBP19 million, respectively. Sales across its portfolio were subdued during the key festive period.

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Keywords Studios PLC, down 3.8% at 2,752.00p, 12-month range 1,950.00p-3,056.00p. Shares in the video game industry services provider fall in a negative read-across from Devolver and Frontier.

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By Eric Cunha, Alliance News news editor

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