The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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Audioboom Group PLC, up 20% at 179.80 pence, 12-month range 130.00p-708.00p. The company extends gains after it said Thursday it reached a milestone after reaching more than one billion advertising impressions. Shares in the publisher of podcasts are still down 73% over the past 12 months, however. Back in February 2022, Sky News reported Amazon.com Inc and Spotify Technology SA were both considering making bids for Audioboom.
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Corcel PLC, up 2.9% at 0.61 pence, 12-month range 0.20p-0.69p. The firm says drilling at the Full Binga section of the Tobias-13 in Angola finds ‘several potentially productive zones seen in multiple intervals’. Executive Chair Antoine Karam says: ‘The initial results of the TO-13 well are an important moment for Corcel and highly encouraging, having successfully demonstrated hydrocarbons across multiple potentially productive zones and multiple intervals.’
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AIM - LOSERS
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Surface Transforms PLC, down 32% at 16.00p, 12-month range 12.60p-43.45p. The carbon-ceramic automotive brake disc manufacturer says that while some technical problems have been overcome, it is still seeing challenges in its production line. ‘These challenges, which are being resolved, are hindering us from creating sufficient capacity resilience and are constraining our production ramp up,’ it explains. ‘In the light of these challenges, the company is now planning its cash needs and customer commitments based on a shallower ramp and now expects to reach the required rate of production in Q1 2024, later than previously forecast.’ Surface Transforms is now cutting sales guidance for 2023 to £8.6 million. It adds: ‘Overall, the outlook for 2024 to 2027 continues to remain very positive reflecting contracts in series production and recent new business announcements, with capacity being installed to fulfil these awards.’
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