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Broadcom missed high expectations in the US last night so the whole chip supply chain is badly down. Hopefully an over reaction which will be reversed to some degree when the US opens.

One possible reason for the fall that has not been discussed, is the weighting of the institutions holding in IQE. Following the allocation of the shares in the rights issue this would result in some institutions breaching their weighing in IQE shares meaning it is necessary if not desirable, to sell down their holding prior to the listing of the new shares to avoid being overweight. Knowing that other institutions will be in the same boat may explain why there has been aa scramble to sell at the best possible price.

It is speculation on my part but that is the purpose of these chat boards. It would seem a logical explanation to me.

Navitas farms into Block1 NBK offshore South Africa

Gil Holzman , President and Chief Executive Officer of Eco Atlantic , commented:

"We are incredibly excited about the successful exercise of the Block 1 CBK Option by Navitas, marking a significant advancement of our strategic relations. This quick exercise of the option not only strengthens the bond between Eco and Navitas but also propels us toward a promising future in South Africa's offshore oil and gas landscape and puts us in an active and enhanced exploration mode. Eco and Navitas' technical and operational teams have been working closely to analyse this block and the wider region along with other assets and areas of interest. Together, we are primed to leverage our combined expertise and resources to maximise our potential in the region and beyond.

"Importantly, this agreement not only adds cash to our strong balance sheet, but more importantly signifies the continued progress Eco has made in advancing its projects. Building on our recent farm down to BP in Namibia , we have now further deepened our strategic partnership with Navitas, working not only in South Africa but also in highly prospective acreage offshore the Falkland Islands in PL001, which Eco will gain further exposure to upon the upcoming completion of our acquisition of JHI Associates Inc. Additionally, Navitas also holds options to acquire 80% of Eco's interests in the Guyana Orinduik Block where we are progressing advanced discussions with the Government over the terms of the next exploration and appraisal stages, offering scope for our partnership to extend further. Overall, these milestones highlight how Eco has successfully executed its strategy of de-risking its portfolio of world-class assets through partnering with carrying, tier-one operators across the Atlantic Margins".

The moves on ITM are not so extreme but timing identical

The intraday chart of ITM power is almost a carbon copy of CWR so certainly nothing specific to CWR which is good news. US institutions moving the market with their big bucks.

LIzard. US tech stocks only down 1-2%

Bloom down 5% ITM down 7% CWR down 17%

Is it stops being triggered, or US led tech sell off. Seems very extreme for no news

Malcy's comment on yesterday's RNS

This is the last step in the JHI acquisition process and their side is complete, all it needs now is the Falkland Islands Government to approve the Navitas operatorship which really is a no-brainer and Eco will complete the deal. I expect action to be quite imminent and then Eco will have ticked all the boxes in its portfolio and be a non-operated carried partner in all its blocks.

With the portfolio now in such good shape I maintain my very positive stance and target price of 150p and of course its long term inhabitance of the Bucket List which has been highly profitable for those followers stays rock solid.

I am sure you are right Sau trade but there is money to be made from bubbles. They generally don't burst with the first pin prick but we have to be nimble and not over exposed. I was trading in the dotcom bubble and bet against it to my cost. Go with the trend but be ready...

If we have traded almost the entire volume of placing shares today, I would see that as a positive going forward as it will not take long to get the shares out of the hands of those minded to sell and into the hands of those minded to hold.

It could prove to be a real buying opportunity as we do have a bit of a special situation here with the right shares coming on top the market. It will take a while for the shares to be absorbed but this could prove to be a very good price never to be seen again.

If you were an institution and had picked up a load of shares at 19.6p wouldn't you want to book that profit. Even if the shares are not available until Wednesday I would imagine they can sell today knowing that they can settle with the shares on Wednesday. Is it a case of everyone trying to take their profit before others knock the price down. I don't know but that sounds reasonable to me.

Norfolk-based Angling Direct (ANG:48.5p), the leading fishing tackle retailer in the UK, has reported a strong year of growth and is maintaining the momentum in the new financial year, too.

Total UK retail sales increased by 14.8 per cent to a record £99.2mn, buoyed by online growth (revenue up 20 per cent to £42.8mn) and 11 per cent higher store sales. Adjust for new store openings and like-for-like sales across the retail estate increased by 5.8 per cent. The performance was also underpinned by the success of Angling Direct’s MyAD omnichannel customer loyalty club app, which grew by almost half to 0.6mn members. Scaling the company’s social media presence is helping, too. Angling Direct now has 0.58mn social media followers, up 14 per cent year on year.

It is worth noting the improving profitability of the UK business. Higher-margin own-brand sales, better buying and pricing all contributed to a higher gross margin (up from 36.2 to 37.6 per cent). Adjusted cash profit from the UK business increased by a quarter to £5.3mn, outpacing revenue growth, reflecting its operating leverage. The loss-making European operation is heading in the right direction, cutting its cash loss by a third to £0.5mn.

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Since the year-end, UK revenue has continued its positive trajectory, rising by 11.8 per cent (February) and 7.6 per cent (March). To date, additional costs (freight and distribution fuel surcharges) incurred due to the Middle East conflict have been insignificant or fully mitigated.

For the year ahead, Singer Capital Markets pencils in 5 per cent higher revenue of £109mn and 19 per cent growth in cash profit to £5.7mn, as well as upgrading adjusted pre-tax profit estimates by 8 per cent to £3.7mn (15 per cent year-on-year growth). Analysts expect 25 per cent growth in earnings per share (EPS) to 3.9p (10 per cent upgrade), implying the shares trade on a cash-adjusted forward price/earnings ratio of 8.5, a modest rating for a company forecast to deliver 45 per cent EPS growth over the next two years.

So, having suggested buying the shares at 39p (Alpha Research: ‘Catch a small-cap stock with big potential upside’, IC, 6 February 2025), and reiterated that advice at 53p (‘Catch this small cap before the share price flies’, IC, 27 February 2026), I see upside to Singer’s raised target price of 85p (upgrade from 75p). Buy.

Strong buying into the close. Nice to see. Bodes well for tomorrow

Interestingly I bought two lots of 200K shares today at 8.00 and 8.02 and they are showing as sells. Probably because I got them below the mid price which surprised me.

Energy (EAAS:5p), an energy-as-a-service provider that designs and implements energy-efficient projects (solar, electric vehicle charging and lighting), has delivered a record first quarter and raised full-year revenue expectations, too.

eEnergy’s ability to design, fund and deliver energy infrastructure upgrades across multi-site portfolios, with zero upfront capital cost for customers, is proving a compelling and differentiated proposition. Chair Andrew Lawley points out that “the drivers behind our business have never been stronger: the race to 2030 net zero, energy volatility, and the growing need for capital-free, turnkey decarbonisation solutions across public and commercial markets”.

Indeed, by developing innovative funding structures that remove barriers to adoption and accelerate deployment, eEnergy is now unlocking decarbonisation at scale. For instance, the group is rolling out its largest ever contract, a UK government-backed programme to install solar panels, battery storage, LED lighting and electric vehicle charging across 73 schools.

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Following the year-end, the launch of an NHS-ready funding solution creates an accessible pathway for healthcare estates to undertake decarbonisation projects within existing regulatory and budgetary frameworks. The first contract under the scheme has been signed with part of Somerset NHS Foundation Trust, covering LED lighting across 18 GP surgeries. Importantly, it provides a blueprint for public sector estates seeking to move at pace on net zero while strengthening their energy security and reducing operating costs.

Having delivered first-quarter revenue of £11mn and a cash profit of £0.7mn, the directors expect to report almost 140 per cent higher first-half revenue of £24mn. Moreover, reflecting improved revenue visibility, management guidance points to a doubling of both annual revenue and cash profit to £38mn and £4.5mn, respectively. On this basis, the group has an enterprise value of just five times cash profit estimates, even though its growth trajectory is being increasingly de-risked. Buy.

Nothing much to add to this announcement an ‘important milestone’ in the due process for the JHI acquisition which is expected to complete following the final approvals from the Falkland Islands Government.

More importantly Eco is in fine shape, 2026 is the year for the company to achieve all of its corporate goals and indeed its transactional catalysts in the Falklands, Guyana and South Africa and also having ticked the box in Namibia recently.

By the end of the year Eco will have met its tough internal hurdles, they will be a non-operated, carried partner on all their blocks, by any measure one hell of an achievement. Eco remains, despite the incredible share price performance, a Bucket List favourite and my target price of 150p is by no means out of range.

With the court approval announced this morning, would expect a penny or two on the price

It is interesting to note that the intraday chart shows IQE rising since 2.30pm. Does that suggest U.S. buying. Is it seen undervalued compared to its American peers? At least it is good to see it little changed on a day when just about everything is down.