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I was waiting for the II buying between 8.45 and 9 to push the price higher again - it's been happening every day this week! Volume here is now well beyond anything I've seen from an AIM small cap - Euronext has traded just shy of 2.5m shares in the first hour, so around €22m of trades. Add in the £3.5m traded on LSE and it's no surprise this continues to motor higher. A true re-rate in progress, news will be like throwing petrol on the BBQ...

Yeah I feel sorry for those who sold at 32 last night - they either had stops in place or must be over invested to get spooked like that. Predictably a fast rise this morning - this time next week should be interesting!

Indeed Newboy, the institutional holdings are one of the big positives here - Amati are a cut above & for them to hold nearly 15% is a great sign. Add in Tyndall (who I hadn’t heard of before), upping their stake at these levels + director / founder holdings of 16% + Bracco at 7% and Nukem 7% and you have nearly half the company in safe hands. A great sign for the future :)

Random one given the amount of other news since, but if anyone ever thinks about selling at these levels I always find looking at the Bidstats tender brings great context of where we currently sit;

http://bidstats.uk/tenders/2020/W41/736296992#top

£406m value versus £536m market cap at close. Simply an astonishing company.

Look at that last trade of the day, 17857 sold at 32p, all I can say is are you for real?! I've seen plenty of drops in my time but that is one of the most ridiculous - when I saw it at 33p I thought the Paraytec device had been cancelled...oh no it's a slight delay in covid masks + a conditional order for 1m per month from Jan! A nice top up for sure, but some PI's have been robbed in broad daylight on that!

That drop makes no sense at all - it's a minor delay in something of a lot less importance than their covid test... bizarre. Anyone selling at 30/31 after than is officially mad!

Another really good podcast today; https://www.**********.co.uk/articles/polarean-imaging-bahamas-petroleum-and-hummingbird-resources-a1c0df8

He really does sell the investment case well...

Also worth listening to this weeks Money Week podcast here, featuring directors from Amati (POLX largest shareholder).

https://tinyurl.com/y6txuvmz

Comment from 35 mins on POLX, which has just entered the top 10 in their VCT fund. They chose it as a stock to hold for the next 10 years, very very positive on the future prospects.

Fingers crossed we can break the 50p resistance this afternoon / soon.

Totally agree, the market has hooked quite a few PI's at the 8p range and now the fall begins. Without news, who knows where it ends, as there is no fundamental value to the business at present beyond hype.

It's a similar case at Mode Global Holdings who IPO'd on Monday - they are a fintech without any revenues (well, £2k) & yet valued themselves at £40m. You would be mad to buy at that price IMO, get them down to £5m market cap and they may be worth looking at. Calnex Solutions is at least a proper business, but I'd still not buy shares when the existing shareholders sold £16m in a £42m valuation...

Nice to have new IPO's, but you need to be very careful which ones you invest in (if any).

Would like to think that if the PoC is positive then they'll get government backing to expedite the rest of the process...

£10 @DannyWilde - at £10 this is still cheap, valued at less than 2 x recognised/contracted revenues.... It's got a long way to go beyond that, but it'll be a nice milestone!

Agree with that timeline Idiot441, however you could be undershooting on valuation...

There was a recent IPO on the NASDAQ for a company called Nano X Imaging (NNOX), their goal is to deploy their next generation X ray machines on a global basis to make access to X ray facilities available to all. They listed at $20 / $900m market cap, then shot up to $60 before being the subject of a short attack that drove the price back to $20 again... the basic premise of the short being they had faked the images that their machine had produced (it's super early stage). They now plan to exhibit the machine at a conference in November to disprove the shorters, and the price has bounced back to $40 or $1.7b market cap.

What's amazing is how much further down the line POLX are in comparison, we have already sold 23 machines, have patents & credibility in the research community, and in less than a year could / should have FDA approval, yet our market cap sits at just £77m / $100m. We are 17 x cheaper than a new entrant that has nothing except a few images in an admission doc & some multi million dollar contracts for future sales (based on a price per machine of roughtly $100k).

AIM has provided a perfect market for POLX to raise cash & progress their product in an under the radar manner, once FDA approval is complete a major marketing push could follow... Or Bracco could buy us out for mega bucks.

This has been a fantastic share so far, but as GM said we are only at the beginning... it's not too late to join as the excellent Shares Magazine piece pointed out this morning... Ps. anyone who has managed to hold since Feb without selling a single share must have either already been a millionaire or be slightly mad ;)

Interesting infor tomv; , the below would imply very bad news for AVCT if it's true...

“The UK seems a bit transfixed by getting a point-of-care antigen saliva test, which is giving us an extra technical challenge and seems to be proving more difficult to get to work than tests that use a nasal swab,” he says. He thinks it may be better to focus effort and resources on overcoming the logistical problems with the current testing system instead."

Really is all to play for here, a little bit of interest this AM has seen the price rise back to 40p, a few weak holders have appeared of course, but that rise was only from around £50k of buys!

@Info, a complete guess but I can imagine French / German funds being quite specific about market cap limits - it could also just be the ODDO effect...

Looks like it been halted in Paris at €8.25 - several 100k plus share buys showing - for context the most recent one for 122k is worth €1,006,500 assuming they paid €8.25 - that must be institutional buying. I wonder if they were waiting for it to pass the €500m market cap?

@Chromeinvestor - you've hit the nail on the head as to why 90% of the market has missed Novacyt up to now - they believed that revenues wouldn't be maintained. In actual fact they were just the start, as last weeks contract showed. A second contract of similar size is now far more likely to land (care homes, airports, other NPT areas, other countries...), and from then on the likelihood of further huge contracts grows. That is how a mid / large cap is built, this normally takes years but in our case the pandemic has pressed the fast forward button.

A fantastic write up, basically flagging that the recent contract win has taken NCYT to the next level & that the market cap is very low even based on their extremely conservative expectations of £100m EBITDA, prior to the £406m DHSC win.

Mid cap will be here before we know it in my opinion, and don’t forget the range is traditionally $2-10b, nothing to say we can’t hit the upper end of this level if the Q16’s / Q32’s become the global gold standard as Tays brilliant twitter thread suggested...

Interesting list EXMEX - you’d have to think a number of those companies have been watching the progress NCYT have been making... its not every day a company that started the year at £10m market cap is awarded a £406m contract amongst many other achievements. A bid would make things really interesting indeed!

Completely agree haha, Professor Smythe's posts were what really got me interested - this level of insight is hugely valuable as it shows that their product has a genuine chance of working.

I also liked his answer to the question; 'So you've cracked it?' with 'Well, we're well on our way', they've put 4+ solid months of work into this so it is believable that they've achieved something significant in that time period.

As I said last night, there is an avalanche of PI cash in other Covid stocks that could flow into BRH on successful PoC, it really makes no sense to be at this market cap at present, never mind on positive news - particularly with AVCT & DVRG having already said their products are unlikely to be ready until early 21 - we are right in the mix.