*************28 Oct 2020 00:39
While the rally in Vela (VELA) was rather more modest than that of Remote Monitored Systems, at 36%, it was arguably the stock which most captured the imagination of traders. This is because it had the magic combination of being not only one of the latest COVID-19 plays, but one of the cheapest in terms of market cap. On this basis of course, logic is that the potential upside should all go well, is that for Vela it would stretch from the present £13m to the tens of millions or more, of existing plays. All of this comes after last week’s announcement that Vela had raised £1.25m to make a £2.35m investment in a late-stage Phase II therapeutic project to develop a potential coronavirus treatment for diabetics.