SMALL CAP MOVERS: Audioboom nets 1bn monthly advertising impressions for the first time

A billion is a huge number no matter how you look at it.

A billion pounds, a billion people – or in the case of the AIM list Audioboom Group – a billion ad impressions in just one month.

After implementing new software on its podcast platform, Audioboom achieved just that in October, scoring over a billion monthly ad impressions for the first time.

Audioboom announced this achievement on Thursday, cementing the company’s position among AIM’s top movers this week.

After creating the 1.01 billion impressions, which were then sold to brands looking to gain exposure to its 38 million unique listeners, Audioboom also said that October was the best month of the year in terms of revenue.

“(This) underlines the scale we are developing,” said CEO Stuart Last.

Given its unique software that updates ads on back catalog content, Audioboom also hinted that 2024 could see record-breaking performance, following a return to revenue growth this year.

Shares rose more than 11% to 151p by the end of the week.

Elsewhere in the digital space Sopheon became the latest British tech company to embrace the deep pockets of American investors.

Sopheon is (temporarily) on the AIM list accepted an offer of 100 cents per share from Wellspring, the specialty software group owned by Atlanta-based private equity firm Resurgens Technology Partners.

Wellspring’s offer was a tasty 88% premium to Sopheon’s weighted average share price; shares rose 85% after the announcement.

Zoo Digital was also on the rise, up 26% over the week, as the provider of end-to-end cloud-based localization and media services announced a strategic shift in India.

Zoo Digital recently suffered from the Hollywood writers’ strikes, which prompted lowered forecasts in September, but news of the new production facility in Chennai appears to have roused shareholders.

Speaking of strategic shifts, Hydrogen utopia Shares of International soared this week, adding more than 40% in the junior market.

The rally came on the back of a bullish research report on the group’s acquisition of 49% of shares in European medical cannabis company Ohrid Organics.

It was cited by Progressive Equity Research as a “potential innovative source of financing without having to resort to a dilutive equity offering.”

In addition to medicinal marijuana, cupcakes were also on the menu this week.

Really good foodthe cake decorating specialist, saw its share price almost double on Tuesday after announcing significantly lower EBITDA losses and higher gross margins in its interim trading statement.

Shares came back down to earth over the course of the week, but still managed to close almost 30% higher.

Looking at the junior market in general, the AIM All-Share Index had a strong week, up 2.6% from Monday’s open, outperforming the FTSE 100 blue-chip index.

The interest rate pauses by central banks in Great Britain and the US provided the most support.

Shares rose in London after the Bank of England maintained its benchmark interest rate at 5.25% for the second time in a row at Thursday’s meeting.

Policymakers sought to curb expectations, with Bank of England Governor Andrew Bailey saying it is “too early” to talk about rate cuts, hinting at restrictive monetary policy for the foreseeable future.

Investors were having none of that, however, viewing the pause as a win and increasing the risk/reward factor for stock portfolios.

This week, however, it wasn’t all pies, slices and cannabinoids.

Specialist in green fuels Speeds‘ The 70% plunge provided great relief about the ongoing financing problems facing British small caps.

The company said it would not be able to meet a deadline for completing a financing deal first mooted earlier this year.

While it is speaking to potential strategic investors, Velocys said there is no binding agreement.

In an update, Velocys confirmed it will need a cash injection before the end of the year.

Other decliners in the energy sectors were included Global petroleumwhich fell by 34% in the week, Cleantech lithiumwhich was a decrease of 23%, and Power station energywhich was a 31% discount.

In the production area, manufacturer of high-tech brakes Surface transformations fell 35%, which it warned about, as it warned that production issues are still hampering production.

Single Points of Failure and a learning curve in maintaining new equipment impact the production line, the report said.

Back to the climbers, Kromek Group rose 34% after it agreed to request new orders worth more than $1 million for its CBRN (chemical, biological, radiological, nuclear) detection products, most of which will be recognized in the current fiscal year.

Top players in the natural resources industry saw this Cadence minerals, Orosur Mining And Corcel all in the high 30% range.

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